201801750 - Laserfiche WebLink

Browse

Return To: Center for Rural Affairs POB 136 Lyons, NE 68038 -0136 DEED OF TRUST THIS DEED OF TRUST is made on March 22, 2018. The Trustors are Michael W. Daniels and Victoria W. Daniels, Husband and Wife a/k/a Owners 20180 1750 The Trustee is Daniel A. Smith, Attorney At Law, P.O. Box 250, Lyons, NE 68038 -0250. The Beneficiary is the Center for Rural Affairs — REAP and the Rural Investment Corporation, also known as Lender. Beneficiary's address is P.O. Box 136, Lyons NE 68038 -0136. Owners irrevocably convey to Trustee, in Trust, with power of sale, the following: Lot Eight (8), Block Three (3), Kernohan and Decker's Addition to the City of Grand Island, Hall County, Nebraska EXCEPT a certain tract of land more particularly described in Book 66, Page 81 together with all the rents and profits therefrom and subject to easements and restrictions of record, if any. Owners are guaranteeing Lender payment of $20,000.00 (Twenty Thousand and 00/100 Dollars), evidenced by name s of borrowers Note #2153 payable to the Center for Rural Affairs and Rural Investment Corporation dated March 22, 2018, payable according to the terms thereof. 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 Borrowers, owners, covenants and agreements. Owners covenant that Owners are lawfully seized of such real estate and have the legal power and lawful authority to convey the same and warrant and will defend title to the real estate against the lawful claims of all persons. OWNERS AND LENDERS AGREE AS FOLLOWS: 1. Owners 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. Owners 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, which is or may attain priority over this security instrument, Lender may give Borrowers a notice identifying the lien and Owners shall satisfy the lien within ten (10) days. 5. Owners 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 Owners. 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.