|
<br />DEED OF TRUST 01~, ~U~9~5
<br />r
<br />THIS DEED OF TRUST, is made as of the ~ day of ~~,
<br />1981, by and among CHATEAU DEVELOPMENT CO., C. a Nebra corpor-
<br />ation; RAYMOND WATSON and WAYNE MOLCK, TRUSTOR, whether one or more,
<br />whose mailing address is 3307 West Capital Avenue, Grand Island, ---
<br />Nebraska b8~301; THE OVERLAND NATIONAL BANK OF GRAND ISLAND, NE-~
<br />BRASKA, TRUSTEE, whose mailing address is 304 West Third- Street,-
<br />Grand Island, Nebraska 68801; and LU'T'HERAN HOMES, INC., a Nebraska
<br />corporation, BENEFICIARY, whose mailing address is P. 0~.~ Box 2300,
<br />Grand Island, Nebraska 6$802.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, con-
<br />veys, and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the
<br />benefit and security of Beneficiary, under and subject to the terms
<br />and conditions of this Deed of Trust, the real property located in
<br />the City of Grand Island, County of Hall, State of Nebraska, and
<br />legally described as follows {the "Property"):
<br />Part of Lot Two {2), Dau Subdivision, mere particularly described as
<br />follows: Commencing at the Southwest corner of Lot One (1), Dau Sub-
<br />division, thence Easterly along the South line of said Lot One (1) a
<br />distance of 514 1'cer. to the Southeast corner cf said Lot One (1),
<br />thence Southerly along the East line of Lot `Two (2), a distance of
<br />130 Peet to th^~"forth line of Fifth Street, in Che City of Grand Is-
<br />land, thence Westerly along the North line of Fifth Street 535.5 Feet
<br />to a point, thence Northeasterly a distance of 131.53 Feet to place
<br />of beginning, in Hall County, aebraska, also known as Lots One (1)
<br />through Twenty-Three (23} in Chateau Orleans Subdivision, in the City
<br />of Grand Island, Nebraska.
<br />The fare going real estate will be platted as Chateau Orleans
<br />Subdivision. Beneficiary agrees to cause Trustee to issue Deeds of
<br />ileconveyance for each lot i^ said Subdivision for which Txrustor ob-
<br />tains a building permit and upon payment to Beneficiary of $3,000.00
<br />per lot.
<br />Trustor agrees to pay all of the sanitary sewer special assess-
<br />ments for District Fdo. 453, ae~:~ all of the water main special assess-
<br />ments for District No. i50, ;which are levied against that part of Lot
<br />Two (2}, Dau Subdivision, whic~: will be replotted into Lots 1 thre--3h
<br />23, Chateau Orleans Subdivi..>i~:~. In addition, Trustor shall pay all
<br />paving assessments levied aSai::~,t the lots in Chateau Orleans Subdi-
<br />fisian, except Lot '.w~:.ty_>'aur E24).
<br />,1., .~_,,. ~.t II, al.. ten. ~:: , casements , apgurtenances , ere ita-
<br />men:s, into-es~ _ ?.: er.loi;:f_-~_, roads, streets, and alleys, improve-
<br />^ents ~:.z.t buiicinZ;s a~~azly 1_..d situated thereon and all personal
<br />propprv'y tha~. ::fay be or .ice*_-water becomes an integral part of such
<br />buiidi_~gs and impr~°:cn^._Cs,
<br />'itz;~ p.~opoz+-v z:_d i:he entire es*_ate and interest conveyed to
<br />the °'rustee ar:; referred to collectively as the "Trust Estate".
<br />:FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of
<br />of .?30,000.00, with interest thereon, as evidenced by that certain
<br />Pramissory Note of even date (Che "Note'") with a matuzity date of
<br />November 15 1981 executed by Trustor, which has been delivered
<br />an ,.s pays e to t e order of Beneficiary, and which by this refer-
<br />ence is hereby made a part hereof, and any and all modifications,
<br />extensions and renewaYs thereof, and
<br />b, Payment of all :sums advanced by Beneficiary to protect the
<br />Trust Estate, with interest at the rate of 16 pert-ent per annum upon
<br />de-fault pursuant to the Promissory Nate,
<br />
|