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.TRUST I?EED-
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<br />T}fIS DHED OF TRUST, made and entered-into this},2~_.day of _-~luguai_-__- 14__$2
<br />by erred between KEITH D. STIBBS _h JOKE E. S~or, and _ Ist Puritan Title Ins . Co _ ,Trustee,
<br />and Postal Finance Company, a Nebraska Corps?ration, Beneficiary.
<br />WITNESSETH: 'Thar the Trustor do by th;Se presents grant, bargain and sell, convey and confirm wSth Powu of Sale
<br />unto the Trustee the following described Real Estate 4ncluding all buildings, impro~°ements, and fixtures of curry kind ttow nr
<br />hereafter erected or placed on the : eat estate, situated in _-_ pell____~ County, in the State of Nebraska:
<br />Property known as:
<br />Lot Sixteen !16), Island Aerta
<br />Nta+ber aiz (6), a zep?aC of Iota Flied for Re
<br />Nineteen (19} and '.t+eaty l20} I91.and Acres,
<br />City of Grand Island, Hall Count}, ylebraska
<br />a[
<br />in Hook~.__~_____ of ~~_~
<br />---.lvf.
<br />Page
<br />and possession o£ said premises now delivered unto said Trustee;
<br />TO HALE AND'TO HOLD the same, with alI righ[s, privileges, and appurtenances thereto belonging unto the Trustee,
<br />his executors, administrators, heirs, and assigns forever. And the Trustor hereby expressly waives, releases, and relinquishes
<br />unto the Trustee all right, tide, claim, interest, txnefit, and estate whatever, in and :o the above-describd premises and each
<br />and every part thereof, which is given by or result, from all laws of the State of Nebraska pertaining .o the exemption of
<br />homes[cad- And the Trustor co~.rnants with the Tr ustec that he will forever warrant and defend the titre to the same against the
<br />lawful claims of alt persons whomsoever.
<br />IN TRliST HOW`E1'ER, for the following described purposes: ~L`HEREAS, the Trustor did on !his late execute a
<br />Promissory Nutc evidenctng a loan for the prvtnpal amoum of 3_.___46Q~.Q4______ _ and interest thereon
<br />acrnrding to the terms of said Promtssory Note; said Promtssory Notc being payable in monthly instalSmrnts a+ such place as
<br />the Beneficiary may designate in venting from time to rime. Notwithstanding any provision amtaincd hcrci^ or in said
<br />Promissory Nato to tktt contrary, if not stwner purl, ap sums due and owing under the terms r+f said Promissory Note shall be
<br />paid on or before _._.__ __ _----~-k~~Z-_,_.__._-_ _ ._.
<br />(t is agrmi by and between the putics hereto Thar until filing of Nonce of Dct"auit, the Tntstor shall; (1) pay all pre=,ent
<br />and future [axes and assessments, genual snd special, ayairt_st said property before the serene be.omes delinquent or acutznable;
<br />l7l keep aki imprevemrnrs erected on the Land insured .u may ix rcyuired from time to time by beneficiary against loss by fire
<br />and ether hazards, ~ualGes and eon@ogcncirs, in such amounts aad for such puiods as are reasonable and maytx required
<br />by bcneficiarti, and to keep all policies of such insurance in force err cifcet upon the property huein described constantly
<br />assigned and delivered to beneficiary, (?) pay and comply with ail of rite Terms and corxlitions of any lien, claim or
<br />indebtedness thu may be senior to or take preccdeece to tbis Trust Deed as soon as any sudt payment on sucfir lien, claim or
<br />indebtedness shat! become due: and upon Failure of Trustor to keep any said agreements, txneficiary may pay such tax, pay tut
<br />such insurance or pay otf such liens or claims or indebtedness as the case may be, and the money so expended. togerlter, thereon
<br />as provided by the terms of the aforementiotted Promissory :vote, shall be secured by this Trust Deed, and [he Trustor agrees
<br />to repay the same upon demand, and upon failuro to do ;o the talance of the attached note shall ixcome immedia[ely due and
<br />payabk at the option of the benef5ciary; (4I speciGczlly confer upon the Trustee the power u( sale as provided in Nebraska taw;
<br />(SS main possession of the premises anZ collect [he rents and revenue therefrom.
<br />Upon pawteni of aIt the Burns secured by this Trusz Deed, the Beneficiary shalt request the Trustee to reconvey the
<br />property and shall surrender this Trust Decd and all notes evidencing indebtedness secured by this "T'rust Deed to the "Trustor.
<br />Trustee shall reconvey the property xithout warranty to the person or persons legally ennded thereto; but it default be erratic in
<br />the peyrntm[ of said nox or any par! thereof cr any of the interest thueon when due or ir. the tai+.h[ut performance of erne or
<br />either of said agreements as aforcctid, cheat the witcte of said note shall become due and be paid as hereinalter provided, and
<br />this detd shall remain in force; the Trustee or his attorney may proceed to set{ the praper[y ir. as entirety or in parcel, et the
<br />option of the Trustee !mrcinbefore described at public auction, to the highest 6iddu, for cash. However, the power of sale
<br />frrein canterred upon the Trustee shall not be exer~isod until (1) the Trustee shall first Silc i~or record, ir. the offi,7c of the
<br />register of dads of cash county wherein the trust property or some part or paten therein is situated, a notice of default,
<br />identifying the ~I~ustee by stating the name,; of the Trustor and n.-unes therein and giving the b~k and page where the Banes s
<br />iecordod, a descripfron of the trust property. and containing a statement that a breacie of err: obligation for •x~hich the trust
<br />property ~ canyeycd as security has ouurred, and setting forth the nature oC such breach aad ttf his election ro sell o, c~aasc
<br />Uu be mld such pro~rry to satLafy the obligation; and l2) after the lapse of net lc<s than cne month, the _ruste~e =hail give
<br />tatice of salt as presdded by Nebraska latvr..After notice of default and laps. of r ut ies than unc month, the Trutee r i En~E
<br />yrritrea no, ice of tGe time and place of sale partitutarly desecibing the property w !7c sold by publican at of iuvl no4cc e Is.ast
<br />fee times, one: a week fee five consecutrve weeks, the last publication u' he at tease ;J days but ^o[ more !ban ?t) day;. prtcx to
<br />Lhe salt, ir. some newspagcr haying a general circulation in each ; ounty in •.vhi.Y. the , rnfxrty tai be void, .Yr Boyne pier. tStcr:ot,
<br />is situated, L'pon such Sala the Trustee ;hall exccnte and deliver a deed of conveaancc of t?~:e property s,id to ~ltc purrhass;r of
<br />purcha rrs thereof and any statentett as recital of rasa in ,uch 4eed ur rciatian to the asenicc cr# cnr po~.~zr of save ar_! sole of
<br />the propt_*ty described thuein, including recitats a?ncerntrg any mailing, pers~,naf d i -_r; and ~nh[;~:...t„ . -E~e ~ _~~- ~•t
<br />de?auit, arty rnailirtg sod the pr;bP.catiar. and frosting bf .u,ice ~ , ss!e, and +.he con.:,uct :..ale: ~,.i " >ue't r,..._ , _ ,.a,. ~,i,. ... _
<br />psirna sa~ic ei`idet~:t cf such tr,mpliaacr a.nd :ortclusive e,i.ir._ce ,hettaf ;r, .a:~.r ,t b :., .-z.c pus.-.as.~~a,..c .,..u ,.~ .., , ~.,.
<br />4f value and ~+-ithOU: roc;cc. 'i ne Tniatcc's :iec<f shall r>c ate to -o., -.y -.~ ~~~ 9u~c, tic _,' My~ a'•.: retie-at , ~.
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