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86- 101863
<br />DEED OF TRUST
<br />This Deed of Trust is made this Is day of __AprlI ,
<br />1986, by and among DUANE D. DREIKOSEN and JOANN T. DREIKOSEN,
<br />husband and wife, hereinafter referred to as "Trustors," whose
<br />mailing address is 318 North Greenwich, Grand Island, Nebraska
<br />68801; AREND R. MACK, Attorney at Law, hereinafter referred to
<br />as "Trustee," whose mailing address is P. O. Box 790, Grand
<br />Island, Nebraska 68802; and RICHARD B. LOCKWOOD and CAROLINE B.
<br />LOCKWOOD, husband and wife, hereinafter referred to as "Benefi-
<br />ciaries," whose mailing address is 1802 West John Street, Grand
<br />Island, Nebraska 68803.
<br />For valuable consideration, Trustors irrevocably grant,
<br />transfer, convey and assign to Trustee, in trust, with power of
<br />sale, for the benefit and security of Beneficiaries, under and
<br />subject to the terms and conditions of this Deed of Trust, the
<br />following - described property, located in Ball County, Nebraska,
<br />to -wit:
<br />Lot Two (2), in Block Twenty -Two (22), in
<br />Nagy's Addition to the City of Grand Island,
<br />Hall County, Nebraska;
<br />together with all buildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, privileges and appurte-
<br />nances located thereon or in any way pertaining thereto, and the
<br />rents, issues, profits, reversions and the remainders thereof,
<br />including all such personal property that is attached to the
<br />improvements so as to constitute a fixture, all of which, includ-
<br />ing replacements and additions thereto, are hereby declared to be
<br />a part of the real estate conveyed in trust hereby, it being
<br />agreed that all of the foregoing shall be hereinafter referred to
<br />as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of indebtedness evidenced by
<br />Trustors' note of even date herewith in the principal
<br />sum of Eighteen Thousand and No /100 Dollars
<br />($18,000.00), together with interest at the rate or
<br />rates provided therein, or the principal and interest
<br />on any future advance not to exceed the total principal
<br />sum initially secured hereby as evidenced by promissory
<br />notes stating they are secured hereby, and any and all
<br />renewals, modifications and extensions of such notes,
<br />both principal and interest on the notes being payable
<br />in accordance with the terms set forth therein, which
<br />by this reference is hereby made a part hereof;
<br />(b) the performance of each agreement and cove-
<br />nant of Trustors herein contained; and
<br />(c) the payment of any sum or sums of money which
<br />may be hereafter paid or advanced by Beneficiaries
<br />under the terms of this Deed of Trust, together with
<br />interest thereon at the rate provided in the note.
<br />To protect the security of this Deed of Trust, Trustors
<br />hereby covenant and agree as follows:
<br />I , PaYment of Indebtedness. To pay when due, the prin-
<br />cipal o£, an the interest on, the indebtedness evidenced by the
<br />note, charges, fees and all other sums as provided in the loan
<br />instruments.
<br />2. Title. Truster, are the= owiors of the property and
<br />have the richt: and authority to e :;f-ut.c this DE>•'.3 Of +
<br />respect :.-> +-11(,!
<br />Pr u:;
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