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12.1885/33N 85-- 006281 NOTICE OF DEFAULT Notice is hereby given that default has occurred under that Deed of Trust and Security Agreement executed by Grand Island South Investors, a Nebraska general partnership, to Joseph Polack, Attorney at Law, Trustee and Continental Mortgage Co., Beneficiary, securing indebtedness in the amount of $1,050,000.00, dated December 5, 1984 and recorded December 5, 1984 in the Office of the Register of Deeds of Hall County, Nebraska as Document No. 84- 006368, assigned by Continental Mortgage Co. to Champlain Valley Federal Savings and Loan Association by Assignment dated December 5, 1984 and recorded December 5, 1984 in the Office of the Register of Deeds of Hall County, Nebraska as Document No. 84- 006370. Said Deed of Trust and Security Agreement covers the real estate and other "Trust Property" more particularly described on Exhibit "A" attached hereto and by this reference incorporated herein, including a tract of land located within the South Half of the Southwest Quarter of Section 27, Township 11 North, Range 9 West of the 6th P.M.. in Hail County, Nebraska. A breach of an obligation for which the trust property was conveyed as security has occurred, in that Trustor has failed to make the following payments required under and secured by the Deed of Trust: 1. November 1, 1985 payment: Principal and Interest $13,480.00 Late Charge $ 1,348.00 Replacement Reserve $ 1,000.00 Si�ffrm 2. December 1, 1985 payment: Principal and Interest $13,480.00 Late Charge $ 1,348.00 Replacement Reserve $ 1,000.00 $15.828.00 Trustor has elected to sell, or cause to be sold, the Trust Property to satisfy the obligation secured by said Deed of Trust. {-� V A 301 Century Building 11213 Davenport Street Omaha. Nebraska 68154 L� a i