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~n ~~p ~ ~ ~ ~` M, ~ ~~ N - ~ ~ ~ ~ ~ ~ ~. ~ ~ ~ ~ ~ ~"" d1 ~ ~ ~ ~ ~ - ~ ~ n ~ m 3 rn ~ z ~ C ° + ~ m v ~ = ~ y ~ ~~ ~ ~~ ~ m rn c' ~.~- ~ `~ c.~ ~ ~ ~ 7C _ ~ ~ C77 ~~ ~ ( t :r' ' , ~ Z rn ~U ~ rr~ ~., ~ r*t 3 r-- ~ ~ r-" A CJ ~ ~ ~ © ~ TI I O7 ~ ,,,~ Q DEED OF TRUST THIS DEED OF TRUST is made on December 22 2009. The Trustor is Darren Ivy and Cassandra Ivy, a married couple, a/k/a Borrower The Trustee is: Robert Schafer, Attorney at Law, 114 North 6'h, Beatrice, NE 6831.0 The Beneficiary is the Center for Rural Affairs, also known as Lender. Beneficiary's address is I'O Box 136 Lyons, NE 68038-0136 Borrower irrevocably conveys to Trustee, in Trust, with power of sale, the following: Lot 1, Hockensmith Subdivision, Hall Couuty Nebraska Together with all the rents and profits therefrom and subject to easements and restrictions of record, if any. Borrower owes Lender $25,000.00 (Twenty-Five Thousand and no One Hundred Dollars), evidenced by Borrower's Note of even date, 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, covenants and agreements. Borrower covenants that Borrower is lawfully seized of such real estate and has 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. BORROWER AND LENDERS 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 ten (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 piom}itly made hy~arrower. 7nsurarice proceeds shall be applied to restoralioit~r i`~air afth~prc~perty -- damaged, unless both parties otherwise agree, except if restoration or repair is not economically feasible or Lender's security is oat 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 afthe payments. 6. IfBorrower fails to perform the covenants and agreements herein contained, Lender may do and pay for whatever is necessary to protect the value of the property and Lender's rights in the property, including the paying of any sum secured by a lien which has priority over this security instrument, appearing in Court, paying reasonable attorney fees and entering the property to make repairs. Any amount disbursed by Lender under this paragraph shall become an additional debt of Borrower secured by this security instrument, to bear interest from the date of disbursement and said amount, together with the then unpaid principal amount, shall bear interest at the highest lawful rate until refunded by Borrower. l5 50