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Lots Twenty -Three (23) and Twenty -Four (24) in the Second Addition
<br />to Holcomb's Highway Homes Subdivision, An Addition to the City
<br />of Grand Island, Hall County, Nebraska. (Also known as 2114 Brahma Street)
<br />201506039
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made on this 2. day off p 2 b pr , 2015. The
<br />Trustor (whether one or more) is KENT CHARLES ORR AND DIANNA LYNN ORR, Trustees
<br />of the Orr Living Trust, dated December 23, 2009, whose address for purposes of notices in
<br />respect to this Deed of Trust is 2114 Brahma St., Grand Island, Nebraska and is sometimes
<br />herein identified as "Borrower ". The Trustee is Galen E. Stehlik, Attorney at Law and member
<br />of the Nebraska State Bar Association, whose address is P.O. Box 400, Grand Island, Nebraska ,
<br />68802 -0400. The Beneficiary is MONTE L. ORR, whose mailing address is ZbO Q 3w-
<br />VC\ q. h1� , Beneficiary. and is sometimes herein identified as
<br />Lender.
<br />BORROWER IRREVOCABLY CONVEYS TO TRUSTEE, IN TRUST, WITH POWER
<br />OF SALE, THE FOLLOWING:
<br />together with all buildings, improvements, fixtures, rights, privileges and appurtenances located
<br />thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to
<br />constitute a fixture, including, but not limited to, heating and cooling equipment and together
<br />with the homestead or marital interests, if any, which interests are hereby released and waived,
<br />all of which, including replacements and additions thereto, is hereby declared to be a part of the
<br />real estate secured by the lien of this Deed of Trust and all of the foregoing being referred to
<br />herein as the "Property ".
<br />Borrower owes Lender the total sum of Eighty Six Thousand and No /100 Dollars
<br />($86,000.00) evidenced by Borrower's Note of even date herewith (hereinafter referred to as
<br />"Debt") which has a stated maturity date of April 1, 2016. This Debt shall include any and all
<br />modifications, extensions and renewals thereof or thereto and any and all future advances and
<br />readvances to Borrower (or any of them more than one) hereunder pursuant to one or more
<br />promissory notes or credit agreements (herein called "Note ").
<br />This Deed of Trust secures to lender the Debt evidenced by said Note, the payment of all
<br />other sums, with interest, advanced under the provisions hereafter to protect the security and the
<br />performance of Borrower's covenants and agreements.
<br />Borrower covenants that Borrower is lawfully seised of such real estate and has the legal
<br />power and lawful authority to convey the same and warrants and will defend title to the real
<br />estate against the lawful claims of all persons.
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />1. Borrower shall pay when due, the principal and interest as provided in said Note.
<br />2. All payments received by lender shall be first applied to advances which may have
<br />been made by Lender and then to interest due and last to principal due.
<br />3. Borrower shall keep the improvements on said Property insured against loss by
<br />fire and hazards included with the term "extended coverage" for their insurable value and policies
<br />for the same shall include a standard mortgage clause showing Lender herein. In event of loss,
<br />Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be
<br />applied to restoration or repair of the Property damaged, unless both parties otherwise agree,
<br />except if restoration or repair is not economically feasible or Lender's security is not lessened,
<br />otherwise said proceeds shall be paid on the debt herein, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any payments or proceeds from
<br />insurance shall not extend or postpone the due date of the monthly payments provided in said
<br />instrument of indebtedness, or change the amount of the payments.
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