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ADAMS COUNTY, NE
FILED
INST. N02.Q,~1 r.~ `,?,r 1 0` ~
Date ~ -b~ TimeL:Y.
TER OF DEEDS
IIIIIIIIIIIIIIIIIIIIIIIII
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DEED OF TRUST
This Deed of Trust, hereinafter referred to as Security Instrument, is made on this 23rd: day of
November, 2007. The Trustor, hereinafter refen-ed to as Borrower, is Jessica L. She 1rJ ierd, a single person, whose
address is 407 S Nance, Minden, NE.
The Trustee, hereinafter referred to as Trustee is Douglas Pauley, member of the Nebraska State Bar
Association. The Beneficiary, hereinafter referred to as Lender, Housing Development Corporation, which is
organized and existing under the laws of the State of Nebraska, and whose address is 301 S. Burlington, P.O. Box
1005, Hastings, NE 68902. Borrower owes Lender the principal sum of Twelve Thousand and 00/100 Dollars
($12,000.00 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument,
hereinafter referred to as Note. Tlvs Security Instrument secures to Lender: (a) the repayment of the debt evidenced
by Note(s), together with interest thereon, any further advances, and all extensions, modification, substitutions, and
renewals thereof; (U) the payment of all other sums, with interest advanced under Section Eight hereof to protect the
security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this
Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust,
with Power of Sale, the following described real estate:
Lot Orre (1), Block Two (2), Southwood Third Addition to the City of Hastings,
Adams Cowrty, Nebraska, according to the recorded plat thereof
which is located in Adams County, Nebraska, having the address of 114 East `H' Street, and is hereinafter referred
to as "Property Address."
Together with all the improvements now or hereafter erected on the property and all easements, rights,
appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or
hereafter a part of the said property. All replacements and additions shall also be covered by this Security
Instrwnent. All of the foregoing is referred to in this Security Instrument as the "Property".
Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant
and convey the Property and that Che Property is unencumbered, except for encumbrances of record. Borrower
warrants and will defend generally the.title to the Property against all claims and demands, subject to any
encumbrances of record. Borrower and Lender covenant and agree as follows:
1. TRUST DEEDS ACT. That this Trust Deed shall be goveried by the terms of Section 76-1001, and
following, of the Revised Statutes of the State of Nebraska, also known as the Nebraska Trust Deeds Act.
2. PAYMENT. That the Borrower shall pay to the Beneficiary the principal and interest under the terms of
the Promissory Note(s).
3. TAXES. That the Borrower shall pay all general real estate taxes and special assessments levied
hereinafter against the property when the same become due and before the same become delinquent.
4. INSURANCE. That the Borrower shall insure the property against loss by fire, hazards, included within
the term "Extended Coverage" and any other hazards for which the Lender requires insurance in an amount not less
than the balance due on any pronussory note or notes secured hereby with a company qualified in the State of
Nebraska by a policy containing a clause for loss payable to the Beneficiary and the Borrower as their respective
interests exist at the time of the loss and to provide evidence of payment of the premium of said policy upon
reasonable demand by the beneficiary.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not
lessened, or the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not
then due, with any excess paid to Borrower.
if Borrower abandons the Property, or does not answer within thirty (30) days a notice from Lender that the
insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the
proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then
due. The thirty (30) day period will begin when the notice is given.
Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not
extend or postpone the due date of the payments referred to in Section 2 hereof, or change the amount of the
payments. If the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this
Security Instrument inuuedialely prior to the acquisition.
S. WASTE. That the Borrower shall not corrunit or suffer any waste of the property.
Removal of Improvements. Borrower shall not demolish or remove any improvements from the real property
without Lender's prior written consent. As a condition to the removal of any improvements, Lender may require
Borrower to make arrangements satisfactory to Lender to replace such improvements with improvements of at least
equal value.
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6. CONDEMNATION. The proceeds of any award or claim for damages, direct or consequential, in
comnection with any condemmnation or other taking of any part of the Property, or for conveyance in lieu of
condemnation, are hereby assigned and shall be paid to Lender.
7. BORROWER NOT RELEASED; FORBEARANCE BY LENDER NOT A WAIVER. Extension of the
time for payment or modification of amortization of the sums secured by-this Security hstrument granted by
Lender to Borrower or any successor in interest of Borrower shall not operate to release the liability of the original
Borrower or Borrower's successors, in interest. Lender shall not be required to connnence proceedings against any
successor in interest or refuse to extend time for payment or otlerwise modify amortization of the sums secured by
this Security Instrument by reason of any demand made Uy the original Borrower or Borrower's successors in
interest. Any forbearance by Lender in exercising any right or remedy, shall not be a waiver: of or preclude the
exercise of any right or remedy.
8. DEFAULT. That, if the Borrower defaults in any of the covenants or agreements contained herein or in
performance of the Promissory Note(s) secured hereby, then the Beneficiary may perform the same and that all
expenditures made by Beneficiary in so doing shall draw interest at the rate provided'in the Promissory Note(s) and
shall Ue repayable by Borrower to Beneficiary and, together with interest and costs accruing thereon, shall be
secured by this Deed of Trust.
9. ACCELERATION UPON DEFAULT.
A. A default shall be defined as follows: Each of the following occurrences shall constitute an event of
default hereunder, (hereinafter called an "Event of Default"): (a) Borrower shall fail to pay when due any
principal, interest, or principal and interest on the indebtedness; (b) Any warranty of title made by Borrower herein
shall be untrue; (c) Borrower shall fail to observe or perform any of the covenants, agreements, or conditions is
this Deed of Trust, or any other deed of trust filed against said property; (d) Borrower shall fail to pay real estate
taxes on the Property before the same become delinquent; (e) Any representation or warranty made by Borrower
on any financial statements or reports submitted to Lender by or on behalf of Borrower shall prove false or
materially rnisleadiug; {f) Borrower shall fail to perform or observe any of the covenants, conditions or agreements
contained in, or binding upon Borrower under any building loan agreement, security agreement, loan agreement,'
financing statement, or any other agreement, instrument or document executed by trustor in connection with tfie
loan evidenced by the Note; (g) A trustee, receiver or liquidator of the Property or of Borrower shall be appoiited,
or any of the creditors of Borrower shall file a petition in bankruptcy against Borrower, or for the reorganization of
Borrower pursuant to the Federal Banknuptcy Code, or any similar law, whether federal or state, and if such order
or petition shall not be discharged or dismissed within thirty (30) days after the date on which such order or petition
was filed; (h) Borrower shall file a petition pursuant to the Federal Bankruptcy Code or any similar law, federal or
state, or if Borrower shall be adjudged a Uaricrupt, or be declared insolvent, or shall make an assignment for the
benefiC of creditors, or shall admit in writing its inability. to pay its debts as they become due, or shall consent to the
appointment of a receiver of all or any part of the Property; (i) Final Judgment for the payment of money shall be
rendered against Borrower and Borrower shall not discharge the same, or cause it to be discharged, witlin thirty
(30) days after the entry thereof, or shall not appeal therefrom or from the order, decree of process upon which or
pursuant to which said judgment was granted, Uased, or entered, and secure a stay of execution pending such
appeal; (j) Borrower shall sell or convey the Property, or any part thereof, or any interest therein,,or shall be
divested of its title, or any interest therein, in ury manner or way, whether voluntarily or involuntarily, without the
written consent of Lender being f rst had and obtained, or (k) If Borrower is a corporation or partnership and more
than tlfty (50%) percent of the shares or Uenef cial interests in such corporation or partnership, as the case may be,
shall be transferred or conveyed, whether voluntarily or involuntarily, without the written consent of Lender being
first had and obtained.
B. Acceleration of Debt, Foreclosure: Upon the occurrence of any Event of Default, or any time thereafter,
Lender may, at its option, declare all the indebtedness secured hereby immediately due and payable and the same
shall bear interest at the default rate, if any, set forth in the Note, or otherwise at the highest rate permitted by law,
and, irrespective. of whether Lender exercises said option, it may, at its option and iti its sole discretion, without any
further notice or demand to oi• upon Borrower, do one or more of the followutg: (a) Lender may enter upon, take
possession of, manage and operate the Property or any part thereof; make repairs and possession, in its own name,
sue for or otherwise collect and receive rents, issues and profits, including those past due and unpaid, and apply the
same, less costs and expenses of operation and collection, including reasonable attorney fees and
Leader's costs, upon the indebtedness secured hereby and in such order as Lender may determine. Upon request of
Lender, Borrower shall assemble and shall make available to Lender any of the Property which has been removed.
The entering upon and taking possession of the Property, the collection of any rents, issues and profits, and the
application thereof as aforesaid, shall not cure or waive any default theretofore or thereafter occurring, or affect any
notice of default or notice of sale hereunder or invalidate any act done pursuant to any such notice.
Notwithstanding Lender's continuance in possession or receipt and upon or after the occurrence of an Event of
Default, including the right to exercise the power of sale. Auy of the actions referred to in tlis paragraph maybe
taken by Lender at such time as Lender may determine without regard to the adequacy of any security for the
indebtedness secured hereby; (b) Lender shall, without regard to the adequacy of any security for the indebtedness
secured hereby, be entitled to the appointment of a receiver by any court having jurisdiction, without notice, Co take
possession of, protect, and manage the Property and operate the same and collect the rents, issues and profits
therefrom; (c) Lender may bring any actiat i~ any court of competent jurisdiction to foreclose this Deed of Trust or
enforce any of the covenants hereoF, and (d) Lender may elect to cause the Property or any part thereof to be sold
under the power of sale, and'in such event, Lender or Trustee shall give such notice of default and notice of sale as
maybe then required by law. Thereafter, upon the expiration of such time and the giving of such notice as may then
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be requu-ed by law, Trustee, at the lime and place specified by the notice of sale, shall sell such Property, or any
part thereof specified by Lender, at public auction to the highesC bidder for cash in lawful money of the United
States of America. Upon receipt of payment of the price bid, Trustee shall apply the proceeds in the following
order: (i) to the cost and expenses of exercising the power of sale and of the sale, including but not limited to,
trustee's fees of not more than $500.00 plus one-half of one percent of the gross sale price, and reasonable attorney
fees, (ii) to the indebtedness, and (iii) the excess, if any, to the person or persons legally entitled thereto.
All costs and expenses incurred by.Lender in enforcing any right under this Deed of Trust, including without
linutation, abstract or title fees, appraisal fees, premiums for title insurance,, attorney fees and court costs, shall be
and constitute indebtedness secured hereby:
10. POWER OF SALE. That the Borrower hereby confers upon the Trustee a power to sell the property which
the Trustee may exercise and under which the property may be sold in the manner provided,by law. At the option of
the beneficiary, this Deed of Trust may be foreclosed in the maimer provided by law for the foreclosure of
mortgage on real property. That, if a sale of the property by the Trustee is exercised under this power of sale, the
proceeds shall be applied first to the payment of the costs and expenses of exercising the power of sale, including
the fee of the Trustee in an amount not to exceed two per cent (2%) of the sale price then to the payment of the
obligation secured by the Deed of Trust and the balance, if any, to the person or persons legally entitled thereto.
11. ACCELERATION IN THE EVENT OF TRANSFER. In the event the title to the said real estate is
transferred; or contracted to be transferred, from the undersigned for any reason or by any method whatsoever, the
entire principal sum and the accrued interest shall at once become due and payable at the election of the
Beneficiary.'Failure to exercise this option because of transfer of title as above stated in one instance shall not
constitute a waiver of the right to exercise the same u1 the event of any subsequent transfer.
12. DUTLES OF TRUSTEE: Borrower agrees that: (a) Duties and obligations of Trustee shall be determined
solely by the express provisions of this Deed of Trust and Trustee shall not be liable except for the performance of
such duties and obligations as are specif catty set forth herein, and no implied covenants or obligations shall be
imposed upon Trustee; (b) No provisions of this Deed of Trust shall require Trustee to expend or risk its own funds,
or otherwise incur any financial obligation in the performance of any of its duties hereunder, or in the exercise of
any of its rights or power; (c) Trustee may consult with counsel of its own choosing and the advice of such counsel
shall be full and complete authorization and protection in the respect of any action taken or suffered by it hereunder
in good faith and reliance thereon; and (d) Trustee shall not be liable for any action taken by it in good faith and
reasonably believed by it to be authorized or within its discretion or rights or powers conferred upon it by this Deed
of Trust.
13. 1tECONVEYANCE. Upon payment of all sums secured by this Security Instrument, Lender shall request
Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured
by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to
the person or persons legally entitled to it. Such person or persons shall pay any recordation costs.
14. HAZARDOUS MATERIALS. Borrower shall keep the Property in compliance with all applicable laws,
ordinances' and regulations relating to industrial hygiene or environmental protection (collectively referred to herein
as "Enviromnental Laws") Borrower shall keep the Property free from all substances deemed to be hazardous or
toxic under any Enviromnental 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, fi-om and against any and all claims, damages, losses and liabilities arising in connection with the
claims, damages, losses and liabilities arising in connection with the present use, disposal or transport of any
Hazardous Materials on, under, from or about the Property. The provisions of this section of the Deed of Trust,
nncluding the obligation to indermufy, shall survive the payment of the indebtedness and the satisfaction and
recouveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest in
the property, whether by foreclosure or otherwise.
15. SUCCESSORS AND ASSIGNS BOUND• JOINT AND SEVERAL LIABILITY: CO-SIGNERS
This Deed of Trust shall be binding upon the parties hereto and all their assigned and heirs.
The covenants and agreements of this Security Instnunent shall bind and benefit the successors and assigns of
Lender and Borrower, subject to the provisions of Section Seventeen hereof. Borrower's covenants and agreements
shall be joint and several. Any Bon-ower who co-signs this Security Instrument but does not execute the Note: (a) is
co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property
under the terns of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security
hnstrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify forbear, or make airy
accommodations with regard to the teens of this Security Listrument or the Note without that Bon-ower's consent.
16. NOTICES. Any notices to Borrower provided for in this Security Instrument shall be given by delivering it
or by mailing it by f rst class mail unless applicable law requires use of another method. The notice shall be
directed to Che Property Address or any other address Borrower designates by notice to Lender. Any notice to
Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by
notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to
Borrower or Lender when given as provided in this paragraph.
17. SUBSTI`fUTE TRUSTEE. Lender, at its option, may from time to time remove Trustee and appoint a
successor trustee to any Trustee appointed hereunder by an hislrument recorded in the County in which this
Security hnstrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the
title, power, and duties conferred upon Trustee herein and by applicable law.
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18. REGULATION Z WAIVER The Trustor agrees this transaction is not a transaction between a borrower
and a conunercial lender and waives any three (3) day right to rescind it may have, together with any rights to
disclosures and notices in addition to those made herein, if any, under federal and state Truth in Lending and
Consumer Protection legislation.
DATED this `,3 day of PSI pVC w1 b ('/ , 20 D7 .
Q.~r~.~-cE~ ~ p,r~~d y~ la
G130R1tOWE _ _ BORROWbR ,
eSS~cy, L^. Slna_~~e~~
FIousing Development Corporation,
BENEFICIARY/LENDER
STATE OF NEBRASKA )
ss.
COUNTY OF ADAMS )
By.,.
i da Addison, Executive Director
O this ~~ day of LJ<lG~ , 20Q 7 ,before the undersigned Notary Public, personally
came , a single person, and acknowledged the execution of the foregoing Deed of
Tnlst their voluntary act an deed, and for the purpose '^}Pnr~Pr~ th PYPin
GENERAL NOTARY -State o` N^~`?s~'
~ MICHELLE M. CALLAHAI~
~~ - My Comm. Exp. Aug. 18, 2008
STATE OF NEBRASKA
j ss.
COUNTY OF ADAMS )
On this~~ day of , 20 (~ ,before the undersigned Notary Public, personally
came Linda Addison, Executive Director of Housing Development Corporation, and acknowledged the execution
of the foregoing Deed of Trust as their voluntary act and deed, and for the purposes intended therein on behalf of
FIousing Development Corporation.
GENERAL NOTARY -State o` N^ti`es~'
11 MICHELLEM.AAL1g 2000
... MY Comm. Exp• 9~
No a •y Public
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