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<br />THIS TRUST DEED made this 14th day of January, 2005, between GALEN WILLIAMS
<br />a},d RE E CA WI�,LIAMS, usban a ife s� Uj�T� S, whose address is
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<br />JOHN M. CUNNINGHAM, 'a member of the Nebraska State Bar Association, as TRUSTEE,
<br />whose address is 222 N. Cedar St., P.O. Box 2280, Grand Island, Nebraska 68802;
<br />and COMPETITIVE MORTGAGE CO., INC., a Nebraska corporation, whose address is 3333
<br />West State Street, Grand Island, Nebraska 68803, as BENEFICIARY. '
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE,
<br />IN TRUST, his heirs, devisees, personal representatives, successors and assigns,
<br />with power of sale, the following- described real property:
<br />Fractional Lot Six (6) , Block Fifteen (15) , Lambert's Addition to the City
<br />of Grand Island, Hall County, Nebraska, and Fractional Lot Seven (7),
<br />except the Westerly Thirteen and Two Tenths (13.2) feet thereof, and all
<br />of Fractional Lot Eight (8), Block Eight (8), Evans Addition to the City
<br />of Grand Island, Hall County, Nebraska.
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARY
<br />that they are lawfully seized and the owners of the above - described property;
<br />that they have good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and encumbrances, and
<br />further, that TRUSTORS will warrant and defend the title to said premises forever
<br />against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTORS
<br />herein contained and the payment of FIFTY -FOUR THOUSAND DOLLARS ($54,000.00), the
<br />TRUSTORS have executed a Trust Deed Note bearing even date, at the rate of
<br />interest and on the terms and conditions as set forth in such Trust Deed Note
<br />until paid. The principal sum and interest shall be payable in accordance with
<br />and upon the terms and conditions of said Trust Deed Note of even date, and in
<br />any event the entire principal balance due hereunder and any accrued interest
<br />shall be paid on August 14, 2005. All payments due hereunder shall be paid at
<br />the address of the BENEFICIARY as above described, or at such other place as such
<br />BENEFICIARY or the holders of said security shall designate in writing. All
<br />installment payments hereunder shall be applied first to the payment of interest
<br />on the unpaid balance, pursuant to the Amortization Schedule, a copy of which has
<br />been provided to each of the parties hereto, and the remainder of each payment
<br />of such installment to be applied on principal.
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be otherwise
<br />agreed by the parties in writing.
<br />B. Maintain the residence and any other improvements located on the real
<br />property in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments of every
<br />kind levied or assessed against or due upon said property before
<br />delinquency, and to deliver to BENEFICIARY copies of receipts showing
<br />payment of such taxes each year.
<br />D. Procure and maintain policies of all -risk insurance on said improvements,
<br />in sums and underwritten by companies acceptable to the BENEFICIARY, in an
<br />amount at least equal to the property's full insurable value, which
<br />policies shall name the BENEFICIARY as additional insured, with the
<br />proceeds payable to the parties as their interests may appear hereunder.
<br />TRUSTORS agree to provide BENEFICIARY with copies of such policies or
<br />certificates of insurance during the term of this indebtedness, which
<br />policies of insurance may not be cancelled by said carrier, without fifteen
<br />(15) days written notice to BENEFICIARY.
<br />-1-
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<br />THIS TRUST DEED made this 14th day of January, 2005, between GALEN WILLIAMS
<br />a},d RE E CA WI�,LIAMS, usban a ife s� Uj�T� S, whose address is
<br />1.� U� 4J 11 Y�� LI�� /Ili (IJS I
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<br />JOHN M. CUNNINGHAM, 'a member of the Nebraska State Bar Association, as TRUSTEE,
<br />whose address is 222 N. Cedar St., P.O. Box 2280, Grand Island, Nebraska 68802;
<br />and COMPETITIVE MORTGAGE CO., INC., a Nebraska corporation, whose address is 3333
<br />West State Street, Grand Island, Nebraska 68803, as BENEFICIARY. '
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE,
<br />IN TRUST, his heirs, devisees, personal representatives, successors and assigns,
<br />with power of sale, the following- described real property:
<br />Fractional Lot Six (6) , Block Fifteen (15) , Lambert's Addition to the City
<br />of Grand Island, Hall County, Nebraska, and Fractional Lot Seven (7),
<br />except the Westerly Thirteen and Two Tenths (13.2) feet thereof, and all
<br />of Fractional Lot Eight (8), Block Eight (8), Evans Addition to the City
<br />of Grand Island, Hall County, Nebraska.
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARY
<br />that they are lawfully seized and the owners of the above - described property;
<br />that they have good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and encumbrances, and
<br />further, that TRUSTORS will warrant and defend the title to said premises forever
<br />against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTORS
<br />herein contained and the payment of FIFTY -FOUR THOUSAND DOLLARS ($54,000.00), the
<br />TRUSTORS have executed a Trust Deed Note bearing even date, at the rate of
<br />interest and on the terms and conditions as set forth in such Trust Deed Note
<br />until paid. The principal sum and interest shall be payable in accordance with
<br />and upon the terms and conditions of said Trust Deed Note of even date, and in
<br />any event the entire principal balance due hereunder and any accrued interest
<br />shall be paid on August 14, 2005. All payments due hereunder shall be paid at
<br />the address of the BENEFICIARY as above described, or at such other place as such
<br />BENEFICIARY or the holders of said security shall designate in writing. All
<br />installment payments hereunder shall be applied first to the payment of interest
<br />on the unpaid balance, pursuant to the Amortization Schedule, a copy of which has
<br />been provided to each of the parties hereto, and the remainder of each payment
<br />of such installment to be applied on principal.
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be otherwise
<br />agreed by the parties in writing.
<br />B. Maintain the residence and any other improvements located on the real
<br />property in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments of every
<br />kind levied or assessed against or due upon said property before
<br />delinquency, and to deliver to BENEFICIARY copies of receipts showing
<br />payment of such taxes each year.
<br />D. Procure and maintain policies of all -risk insurance on said improvements,
<br />in sums and underwritten by companies acceptable to the BENEFICIARY, in an
<br />amount at least equal to the property's full insurable value, which
<br />policies shall name the BENEFICIARY as additional insured, with the
<br />proceeds payable to the parties as their interests may appear hereunder.
<br />TRUSTORS agree to provide BENEFICIARY with copies of such policies or
<br />certificates of insurance during the term of this indebtedness, which
<br />policies of insurance may not be cancelled by said carrier, without fifteen
<br />(15) days written notice to BENEFICIARY.
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