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<br />* This Space Reserved for Register of Deeds *
<br />
<br />DEED OF TRUST
<br />
<br />A" d... THIS DEED OF TRUST is made on June 15, 2007 the Trustor is Seth M. Davis and
<br />-~ R. Davis, a husband and wife, a/k/a Borrower. The Trustee is Dale Shotkoski, Grand
<br />Island City Attorney. The Beneficiary is THE CITY OF GRAND ISLAND, NEBRASKA, a
<br />municipal city corporation, a!k/a Lender. Borrower irrevocably conveys to Trustee, in trust, with
<br />power of sale, the following:
<br />
<br />Koehler Place, Lot 6, Block 2, Grand Island, Hall County Nebraska
<br />
<br />Together with all the rents and profits therefrom and subject to easements and restrictions of
<br />record, if any.
<br />
<br />Borrower owes Lender Fifteen Thousand One Hundred Twenty-Six Dollars and 11/100
<br />Cents ($15,126.11), evidenced by Borrower's note of even date, payable according to the terms
<br />thereof.
<br />
<br />This security instrument secures to Lender the debt evidenced by said note, the payment
<br />of all other sums, with interest, advanced under the provisions hereafter to protect the security
<br />and the performance of Borrower's covenants and agreements.
<br />
<br />Borrower covenants that Borrower is lawfully seized 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 />
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />
<br />1. Borrower shall pay when due, the principal and interest as provided in said note.
<br />
<br />2. Borrower shall pay all general real estate taxes and special assessments against
<br />the property before the same become delinquent.
<br />
<br />3. If Lender determines that any part of the property is subjeet to a lien, which is or
<br />may attain priority over this security instrument, Lender may give Borrower, a notice identifying
<br />the lien and Borrower shall satisty the lien within ten (10) days.
<br />
<br />4. Buyer shall keep the improvements on said premises insured against loss by fire
<br />and hazards included within the term "extended coverage" for their insurable value and polieies
<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 />
<br />5. If Borrower fails to perform the covenants and agreements herein contained,
<br />Lender may do and pay for whatever is necessary to protect the value of the property and
<br />Lender's rights in the property, including the paying of any sum secured by a lien which has
<br />priority over this security instrument, appearing in Court, paying reasonable attorney fees and
<br />
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