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85-004178
<br />DEED OF TRUST
<br />a
<br />THIS TRUST DEED made this (;Q7 day of August, 1985, between
<br />TIMOTHY J. MOHANNA and LOUISE M. MOHANNA, husband and wife, as
<br />TRUSTORS, whose address is 104 West Oasis Place, Cairo, "- braska
<br />68824; B. J. CUNNINGHAM, JR., Attorney at Law, 222 North Cedar
<br />Street, P. 0. Box 2280, Grand Island, Nebraska 68802 as TRUSTEE;
<br />and GLENN LaVERNE ROBERTS, whose address is 606 West Egypt Street,
<br />Cairo, Nebraska 68824 as BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant
<br />to TRUSTEE IN TRUST, his successors or assigns, with power of
<br />sale, the following described real property:
<br />Lot Eiaht (8) of Harb Subdivision of Block Two (2), Ingalls
<br />Turner Sub - Division in the Village of Cairo, (tall County,
<br />Nebraska.
<br />together with all buildings, improvements and appurtenances thereon,
<br />together with the personal property described in the Installment
<br />Sale Contract dated the 9 day of August, 1985, between the
<br />TRUSTORS and BENEFICIARY.
<br />The TRUSTORS hereby covenant and agree with the TRUSTF.F and
<br />BENEFICIARY that they are lawfully seized and the owners of the
<br />above described property; that they have good, right and lawful
<br />authority to sell and convey said premises and that said premises
<br />are free and clear of all liens and encumbrances and further, that
<br />TRUSTORS will warrant and defend the title to saic premises forever
<br />against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTORS herein contained and the payment of FORTY- THFJ:E 'THOUSAND
<br />SIX HUNDRED FIFTY DOLLARS ($43,650.00), as evidenced by a Promissory
<br />Note bearing even date, at the rate of interest and on the terms
<br />and conditions as set forth in such Note until Laid. The principal
<br />sum and interest shall be payable in accordance with and upon the
<br />terms and conditions of said Note of even date, and in any event
<br />the entire principal balance due hereunder and any accrued interest
<br />shall be paid on September 1, 2001. All installment payments here-
<br />under shall be applied first to the payment of interest computed
<br />monthly on the unpaid principal balance, pursuant to an amortization
<br />schedule, a copy of which has been provided to each of the parties
<br />hereto, and the remainder of each installment to be applied to
<br />principal. All payments due hereunder shall be paid at the residence
<br />of the BENEFICIARY as above described, or at such other place as
<br />such BENEFICIARY or the holder Of saki security shall designate
<br />in writing.
<br />It is aq_reed by and between the parties hereto that while t.itI:_?
<br />is vested in the TRUSTEE. and until filinq of Notice of Default, the
<br />TRUSTORS shall:
<br />A. Retain possession of the premises at all ti.sues,
<br />except as may be otherwise agreed by the parties
<br />in writing.
<br />B. Maintain the buildings and improvements and all
<br />personal }:jroperty sold under the parties' Install-
<br />ment sale contract, in (rood coridi tion aril repair.
<br />C. Pay all general anti special taxes and -Al sp:ci:rl
<br />s SSiefssments of every }:and 1CV1 -1 (.'r
<br />c:;ainst or due tq,on said F,roperty hof-0 do an-
<br />}uenc /, and to dcy. liver to F +FNFFI:']P.il� o {,:
<br />t-ect .pts : ;howino payment ol
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