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~~ ~; ~, _ ~ ~ , " ~' rn ~ c~ ----- ~ ~ r, ~ ~ _ ~ r~ \ ~ .~.r Q --, ~ -{ r`~ ~_ ~ ~ ~ ~ ~ N ~ rFt `~ ' ~ ~ rv ~ ~ -.i p C~ ~ ~ C7 ~ ~ ~~r A R ~ d ..,~ ~1,,(~' r} _ ~ ~ C~ Z ~ Q ""\) ~~ ~ 1117 Cl ~ n .....Y,y ~~ ~ ~ d to ~ c~'1 ~ ~ ~ .. _. ~ DEED OF TRUST THIS DEED OF TRUST is made on~~~, 2009. The Trustor is Richard D. Callahan and Lisa C. Callahan, husband and wife, a/k/a Borrower. / ~, ~ ~ The Trustee is Kathryn L. Mesner, a member of the Nebraska State Bar Association. 1 The Beneficiary is Gordon A. Nelson and Susan E. Nelson, husband and wife, a/k/a Lender. Beneficiary's address is 3764 Hiawatha Drive, Lake Havasu, AZ $6404. Borrower irrevocably conveys to Trustee, in Trust, with power of sale, the following: The West Fifty-two feet (W52') of Lot Two (2), and the East Thirty-eight Feet (E38') of Lot Three (3), in Block Six (6), in Parkhill Second Subdivision, an Addition to 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 $$75,000, evidenced by Borrower's note dated September 19, 2007, 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 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, 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. Buyer 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.