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<br />83- 006405
<br />
<br />TRUST DEED
<br />
<br />THIS TRUST DEED made this t"J day of December 1983,
<br />
<br />between ROBERT K. POLAND and JUDITH K. POLAND, as Trustor,
<br />
<br />whose address is Rural Route #2, Box 242, Grand island, Nebraska
<br />
<br />68801; JAMES D. LIVINGSTON, Attorney, as Trustee; and ESTHER
<br />
<br />HAGMAN and ROBERT HAGMAN, husband and wife, whose address
<br />
<br />is Rural Route, Box 138, Cairo, Nebraska 68824, as Beneficiary.
<br />
<br />WITNESSETH:
<br />
<br />That Trustor conveys, sells, and warrants to Trustee
<br />in trust, with power of sale, the following described real
<br />property:
<br />
<br />The East Half of the Northeast Quarter of the
<br />Northwest Quarter (E'~NE',;NW',;) of Section Thirty Five
<br />(35), in Township Eleven (11), North, Range Nine (9),
<br />West of the 6th P.M., in Hall C,)unty, Nebraska, except-
<br />ing that part conveyed to the State of Nebraska and
<br />recorded in Book 71 at Page 241, of the Deed Records
<br />of Hall County, Nebraska, except that part condemned by
<br />the State of Nebraska shown in Document No. 82-001741.
<br />intention being to convey hereby an absolute title in
<br />simple, together with all buildings, fixtures, improvements,
<br />appurtenances thereto belonging.
<br />
<br />The Trustor covenants and agrees with the said Trustee
<br />and Beneficiary that he is lawfully seised of said premises;
<br />that he has good right and lawful authority to sell and convey
<br />said premises; that said premises are free and clear of all
<br />liens and encumbrances; and that Trustor will warrant and
<br />defend the title to said premises unto the Trustee and his
<br />successors and assigns forever against the claims of all
<br />persons.
<br />
<br />FOR THE PURPOSE OF SECURING performance on each agreement
<br />of Trustor herein contained and the payment of Fifty Six Thousand
<br />One Hundred Sixty Dollars ($56,160.00), as evidenced by a
<br />promissory note bearing even date at the rate of Nine and
<br />One-half percent (9.5%) per annum until paid; the principal
<br />sum and interest shall be payable on March I, 1989. All pay-
<br />ments shall be made at the office of the Beneficiary, Rural
<br />Route 'I, Box 138, Cairo, Nebraska, or at such other place
<br />as holder may designate in writing.
<br />
<br />It is agreed by and between the parties hereto that
<br />while title is vested in the Trustee and until filing of
<br />Notice of Default, the Trustor shall:
<br />
<br />A. Retain possession of the premises and collect the
<br />rents and revenues therefrom.
<br />
<br />B. Maintain the buildin~s and improvements located
<br />thereon in good condltion and repair.
<br />
<br />C. Pay all taxes and special assessments levied or
<br />assessed against or due upon said premises before
<br />delinquency, and to deliver to Beneficiary copies
<br />of receipts showing payment of such taxes.
<br />
<br />D. Procure and maintain policies of insurance against
<br />the usual hazards of fire, hail, windstorm, and
<br />other similar risks, in sums and underwritten by
<br />
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