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<br />80~ ~~tr x$04
<br />TRUST DEED
<br />THIS TRUST DEED made this Zt day of November 198fl,
<br />between RAYMOND A. WATSON and JUANITA WATSON, as Trustor,
<br />whose address is 1524 Coventry Lane, Grand Island, Nebraska;
<br />JOHN R. BROWNELL, as Trustee; and COMMERCIAL SAVINGS C0~IPANY
<br />OF GRAND ISLAND, an Industrial Loan and Investment Company,
<br />whose address is 2121 North Webb Road, Grand Island, Nebraska.,
<br />as Beneficiary.
<br />WZTNESSETH:
<br />That Trustor cpnveys, tells, and warrants to Trustee in
<br />trust, with power of sale, the following described real
<br />property:
<br />Lots Five (5}, Six (6), Seven (7), and Eight (8),
<br />Piper's Glen Subdivision, being a Subdivision of
<br />Lots Eight (8) and Nine (9}, Warren Subdivision,
<br />in the City of Grand Island, Hall County, Nebraska.
<br />The intention being to convey hereby an absolute title in
<br />fee simple, together with all buildings, fixtures, improve-
<br />ments, and appurtenances thereto belonging.
<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, ri.aht, and lawful authority to sail and
<br />convey said premises; that said premises arP free and clear
<br />of all liens and encumbrances; and *_hat Trustor will warrant
<br />and defend the title to said premises unto the Trustee anal
<br />5is successprs and assi~tns ~~,rrver against the claims ~_ all
<br />pw> rspn s ,
<br />-~ ~ SE DF _u__;RZNr perfgrm-an..~ _,.. each agrees
<br />ment ofryTrustorRherein .contained and the -_ -n,,,~ ,__ zdi-,~
<br />'t`housand Doiiars ($90,000.00), as evidenced~by~a promissory
<br />note bearing even date on a floating rate, not to exceed
<br />nineteen percent (19s?) nor less than twelve percent (12~),
<br />as more fully set out therein, per annum until paid; the
<br />principal sum and interest shall be payable on demand.
<br />A12 payments shall be made at the office of the Beneficiary,
<br />2121 North Webb Road, Grand Island, Nebraska, or at such
<br />other place as the hoiden may designate in writing.
<br />It is agreed by and between the parties hereto that
<br />while title is vested i.n the Trustee and until filing of
<br />Notice of Default, the Truster shall:
<br />A. Retain possession of the premises and collect the
<br />rents and revenues therefrom.
<br />8. Maintain the buildings and imprpvements laeated
<br />thereon ir. good condition and repair,
<br />C. flay all taxes and special assessments leeied oz
<br />assessed against or due urn said premis+~s befttlee
<br />delinquency, and to deliver to Beneficiary co~?i~Fs
<br />of receipts showinw payment of such tars..
<br />6. Procure and maintain policies of insuranpe against
<br />khe izsua.l hazards of fire, hail, windstorm., and'
<br />other similar risks, in sums and underwritten ~'
<br />companies acceptable tp the Beneficiary, with lass
<br />payabla to the parties as their interest aiay
<br />appear.
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