201508764 - Laserfiche WebLink

Browse

thereof. _ n r° DEED OF TRUST 0 THIS DEED OF TRUST is made on December 23, 2015 The Trustor /Borrower is Midwest Builders, Inc. The Trustee is Fidelity National Title Insurance Company whose address is P 0 Box 627, Grand Island, NE 68802. The Beneficiary/Lender is Housing Plus, LLC Beneficiary's address is 2502 A North Webb Road, Grand Island, NE 68803. Borrower irrevocably conveys to Trustee, in Trust, with power of sale, the following: Lot Fifty Five (55), of LARUE Third Subdivision, in the City of Grand Island, Hall County, Nebraska. Together with all the rents and profits therefrom and subject to easements and restrictions of record, if any. Borrower owes Lender $34,000.00, evidenced by Borrower's note of even date, payable according to the terms -ry CD CJ1 CD CX) --J c» s This Security Instrument secures to Lender the Debt evidenced by said note, the payment of all other sums, with interest, advanced under the provisions hereafter to protect the security and the performance of Borrower's covenants and agreements. Borrower covenants that Borrower is lawfully seised of such real estate and has the legal power and lawful authority to convey the same and warrants and will defend title to the real estate against the lawful claims of all persons. BORROWER AND LENDER AGREE AS FOLLOWS: 1. Borrower shall pay when due, the principal and interest as provided in said note. 2. All payments received by Lender shall be first applied to advances which may have been made by Lender and then to interest due and last to principal due. 3. Borrower shall pay all general real estate taxes and special assessments against the property before the same become delinquent. 4. If Lender determines that any part of the property is subject to a lien, except for Borrower's Construction Financing, which is or may attain priority over this security instrument, Lender may give Borrower a notice identifying the lien and Borrower shall satisfy the lien within 10 days. 5. Borrower shall keep the improvements on said premises insured against loss by fire and hazards included within the term "extended coverage" for their insurable value and policies for the same shall include a standard mortgage clause showing Lender herein. In event of loss, Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be applied to restoration or repair of the property damaged, unless both parties otherwise agree, except if restoration or repair is not economically feasible or Lender's security is not lessened, otherwise said proceeds shall be paid on the debt herein, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any payments or proceeds from insurance shall not extend or postpone the due date of the monthly payments provided in said note, or change the amount of the payments. 6. Borrower shall keep described Property in compliance with all applicable laws, ordinances and regulations relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws "). Borrower shall keep the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein as "Hazardous Materials "). Borrower hereby warrants and represents to Lender that there are no Hazardous Materials on or under the Property. Borrower hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees and agents, and any successors to Lender's interest, from and against any and all claims, damages, losses and liabilities arising in connection with the presence, use disposal or transport of any Hazardous Materials on, under, from or about the Property. THE FOREGOING WARRANTIES AND REPRESENTATION, AND BORROWER'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST. 7. If Borrower fails to perform the covenants and agreements herein contained. Lender may do and pay for