83005795 - Laserfiche WebLink

Browse

I 83-. 005795 f even date at the rate of interest as set forth on such note until paid; the principal sum and interest shall be payable in accordance with a note of even date and in any event on the 15th day of October, 1984. Any installments to be applied first on the payment of interest computed monthly on the unpaid principal balance and the remainder of each installment to be applied to principal. All payments shall be made at the office of the BENEFICIARY, First National Bank of Grand Island, 202 West Third Street, Grand Island, Nebraska, or at such other place as the holder may designate in "r1ting. It is agreed by and between the parties hereto that while title is vested 1n the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall A. Retain possession of the premises and collect the r~nts and revenues therefrom. B. MaHlta1t1 the bUIldings and improvements located thereon in good condi tion and repai r. c. Pay ail taxes and special assessments levied or assessed aqatrlst or due upon said pr'emises before delinquency, and to deliver to BENEFICIARY copies of receipts shOWIng payment of such taxes. D. Procure and maIntain policies of insurance against the usual hazards of fire, hail, windstorm and ot.her slm1lar rIsks, in sums and underwritten by companH's acceptable to the BENEFICIARY, with loss payable to the parties as their interest may appear. l E. Pay to the BENEFICIARY, if BENEFICIARY so requires, together with and in addition to the regular monthly payments of pr1nc~pal and interest, on t.he date set fOI'th for the making of the payment each month, a sum as established by the BENEFICIARY equal to the taxes and special assessments next due on the premises, plus the premium that will next become due and payable on insurance policies covering the premises, divided by the number of months to elapse befO!'e one month pr ior to the date when such taxes. spec~al assessments and premium will be due, Said sums to be held by t.he BENEFICIARY in trust to pay the taxes, special assessments and insurance premiums. Any deficiency in the amount of any aggregate monthly payment (principal, interest, taxes, special assessments and insurance premium) shall constitute a default. The arrangements prOVIded for in this subpal'agraph - 2 "