Loading...
RES 2009-1283 - Accept net proceeds of property at 5347 N 47th St M F Planning Department c ,.�.��� [" z s `:'l'!*Fl 1 6 0 Omaha/Douglas Civic Center any -vpil' (� ] Y i"� �P �,� 1819 Farnam Street,Suite 1100 + P ` n r Omaha,Nebraska 68183 ® ta f , �� C� (402)444 5150 �� ``c �,p�rFD FEaRvr,� - �� r• Telefax(402)444-6140 ` l" �'3i �, R.E.Cunningham,RA,F.SAME City of Omaha � , �'g €fi##/ r A A Director f FS1 q, L,. IY t Jim Suttle,Mayor November 10, 2009 Honorable President and Members of the City Council, Attached is a proposed Resolution allowing for the early depreciation of the principal of a deferred payment loan executed by Monique M. Cribbs. The terms of the 2006 Deed of Trust securing this loan provided for the partial financing of the acquisition of property located at 5347 North 47th Avenue, such financing consisting of a HOME funded deferred payment loan in-the original amount of $25,000.00. This financing was provided through the Homeownership Program. Ms. Cribbs is leaving Nebraska to pursue other job opportunities. She will no longer be able to comply with the own and occupy requirements of the City financing. The terms of the Deferred Payment Loan Promissory Note allow for the loan principal to depreciate 5% each year for ten years from the date of the Note (July 21, 2006). The depreciated deferred payment loan principal balance ($20,000.00) plus the payoff amount on her first mortgage ($67,803.92 as of 9/1/2009) plus reasonable closing costs will most likely exceed the market value/sales price of her property. Ms. Cribbs has received market price estimates from three major real estate companies that range from approximately$60,000.00 to $85,000.00 and the assessed value of$56,700.00. Ms. Cribbs has made written request to the City that the principal balance of the deferred payment loan be forgiven to facilitate the sale of her property. While requiring Ms. Cribbs to repay the full amount would place a significant burden on her, forgiving the entire amount would grant her an undue benefit. Under similar circumstances in the past, the City has agreed to accept the net proceeds from the sale rather than require the borrower to pay the full depreciated balance. This Resolution reduces Ms. Cribbs repayment obligations related to the City's interest to the net proceeds from the sale of her property, net proceeds being defined as the amount of the sales price minus the balance of any liens superior to that of the City plus reasonable closing costs. This reduction will only apply upon the sale of her property at a reasonable market price acceptable to the Planning Director. Your favorable consideration of the Resolution is requested. Sincerely, Referred to C. , ou i cil for Consideration: A-t- �.�i dn L , . Cunn' gha , -.•v . SAME Mayo Of ill 'Fie Planning 1 t rector Plnlsf1326-cover letter 11 istrict 5 $ E"�5 • l.� $ `-'l� ` �1 ``--��,, Cul-de•Sacs $ \v -0 D $ 10 -0 0 $ 1 o - 00 $ oC o • c $ 05-W Total miles of Residential Street Plowing requested: I b C All bidders warded a contract in the amount of$5,000 or more must comply with the Contract Compliance Ordinance and have on file with the Human Rights& Relations apartment the Contract Compliance Report(Form CC-1). This report shall be in effect for 24 months from the date received by the Human Rights& Relations[Vann-lent. Any questions regarding the Contract Compliance Ordinance should be directed to the Human Rights&Relations Department at (402)4445055, 'Refer any Questions regarding the BID or SPECIFICATIONS directly to the Purchasing Department(402)444-7155 or as shown on bid. (PLEASE PRINT LEGIBLY OR TYPE)( Payment Tams ‘S % UO Firm: Reese. c C prtc >' L✓(�G Incorporated In: Ot✓ Delivery(orcompletion) Name: 'rV V t S eee 52.E Signature: calendar clays following award Title: K,keA Ac\ae,y^ Phone: a 3$—G9(C{ y Fax: Address:&O (,e,fl.\ Cik• ).-11-1•tA 1 1. (03%;U�- StreetiP.O.Box City Stet Zip Email Address: t.eSe.-e-k-A" X )r(SQS LLC 6) ma,, • C.C�YY� 08 - - 111111111111 • 111111111111111111111111=°Rgeive�o ` `PIAN L. THIS PAGE INCLUDED FOR INDEXING PAGE DOWN FOR BALANCE OF INSTRUMENT IAiec471. 0 . s Fri 3u - oo sao BKP C/O N COMP oeL� Fsc ,. s- G or. rfullerton@siddillon.com 2 Make check payable to: Sid Dillon & GMAC If you are taking delivery and paying the same day 1 Make check payable to: Sid Dillon { ING! DO NOT BID BASE TRUCK with 1WT, XL, or ST PACKAGE ON THIS SHEET!! 2628 OF 2008 3 Qtr Ton Ext Cab 4-Door 4x4 Diesel Pickup.doc Page 15 ith 9WT,XL, or ST ON THIS SHEET! 2629 OF 2008 3 Qtr Ton Crew Cab 4-Door 4x4 Diesel Pickup.doc Page 13 • « k` CDCD n CD Z -! ` • DEED OF TRUST, CONSTRUCTION SECURITY AGREEMENT AND ASSIGNMENT OF RENTS THIS CONSTRUCTION SECURITY AGREEMENT (HEREINAFTER MAY BE REFERRED TO AS SECURITY AGREEMENT) SECURES AN OBLIGATION; WHICH THE DEBTOR INCURRED FOR THE PURPOSES OF MAKING IMPROVEMENTS ON THE REAL PROPERTY DESCRIBED BELOW. THIS DEED OF TRUST, CONSTRUCTION SECURITY AGREEMENT AND ASSIGNMENT OF RENTS made this 21st day of July,2006 among Monique M. Cribbs,a single person,5347 North 47th Avenue,Omaha,NE,68104, as Trustor; Jackie Barfield,Attorney-at-Law,P.O. Box 11570,Omaha,Nebraska,68110, as Trustee;and, City of Omaha,a Municipal Corporation, 1819 Farnam Street,Omaha,Nebraska,68183, as Beneficiary: WITNESSETH: That Trustor irrevocably grants,transfers and assigns to Trustee in trust,with power of sale,the following described Real Estate: Lot 25, Block 4, Alscher Homes, an addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska (commonly known as 5347 North 47th Avenue) together with all interest which Trustor now has or may hereafter acquire in and to said Real Estate and in and to: (a)all easements and rights of way appurtenant thereto and all of the estate, right, title, interest, claim and demand whatsoever of Trustor in the Real Estate, either at law or in equity, now or hereafter acquired:(b)all structures,buildings and improvements of every kind and description now or at any time hereafter located or placed on the Real Estate(the"Improvements");(c)all machinery, appliances,apparatus,equipment and fixtures now or hereafter located in, upon or under the Real Estate or the Improvements, or any part thereof, and used or usable in connection with any present or future operation thereof, and all additions thereto and replacements therefore;(d)all articles of personal property and any additions to,substitutions for,changes in or replacements of the whole or any part thereof, including,without limitation, all furniture and furnishings, noyv or at any time hereafter affixed to,attached to,placed upon or used in any way in connection with the use, enjoyment, occupancy or operation'of the Real Estate or the Improvements, or any portion thereof,and owned by the Trustor or in which Trustor now has or hereafter acquires an interest; (3)all of the rents,royalties,issues and profits of the Real Estate and the Improvements, or arising from the use or enjoyment of all or any portion thereof or from any lease, license, concession, occupancy agreement or other agreement pertaining thereto (the "Rents and Profits"), and all right, title and interest of Trustor in and to all leases, licenses and occupancy agreements of the Real Estate or of the Improvements now or hereafter entered into and all right,title and interest of Trustor thereunder, including without limitation,cash or securities deposited thereunder to secure performance by tenants,lessees or licensees,as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion, voluntary or involuntary,of any of the foregoing into cash or liquidated claims, including,without limitation,proceeds of insurance and condemnation awards; and(h) all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom,whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as"such property". After filing return to: Omaha Planning Department Attn: Bridget Hadley 1819 Farnam Street, Suite 1111 Omaha, NE 68183 Page I of 6 Revised 1/31/06 directly to the Purchasing Department(402)444-7155 or as shown on bid. (PLEASE PRINT LEGIBLY OR TYPE)( Payment Tams ‘S % UO Firm: Reese. c C prtc >' L✓(�G Incorporated In: Ot✓ Delivery(orcompletion) Name: 'rV V t S eee 52.E Signature: calendar clays following award Title: K,keA Ac\ae,y^ Phone: a 3$—G9(C{ y Fax: Address:&O (,e,fl.\ Cik• ).-11-1•tA 1 1. (03%;U�- StreetiP.O.Box City Stet Zip Email Address: t.eSe.-e-k-A" X )r(SQS LLC 6) ma,, • C.C�YY� 08 - - FOR THE PURPOSE OF SECURING: A. Payment of the principal sum of Twenty-five Thousand and 00/100 Dollars ($25,000.00). comprised of SI5,000.00 in HOME funds and S10,000.00 in American Dream Dowpayment Initiative(ADDI) HOME funds (S4,499.00 of the ADD1 HOME funds is for closing costs) as evidenced by that certain promissory note dated of even date herewith (hereinafter referred to as the"Promissory Note") issued by Trustor in said amount and payable to the order of Beneficiary, together with interest thereon, late charges and prepayment bonuses according to the terms of the Promissory Note and all renewals,extensions and modifications thereof. B. Performance, discharge of and compliance with every obligation, covenant and agreement of Trustor incorporated by reference or contained herein or in any other security agreement or deed of trust at any time given to secure any indebtedness hereby secured, or any part thereof, including the Agreement with the City of Omaha dated October 26, 2004 by City Council Resolution No. 1348 and American Dream Downpayment Initiative(ADDi)funds as approved by City Council Resolution No. 1295 on Novembber 8,2005. C. Payment of all fees and charges of Beneficiary,whether or not set forth herein. D. Payment of future advances necessary to protect such property. E. Payment of future advances to be made at the option of Trustor and Beneficiary. TO PROTECT THE SECURITY OF THIS DEED OF TRUST,TRUSTOR COVENANTS: 1. Title:That it is lawfully seized and possessed of a good and indefeasible title and estate to such property in fee simple and will forever warrant and defend the title thereto against the claims and demands of all persons whosoever;that it will at its expense,maintain and preserve the lien of this Deed of Trust as a Second lien upon such property subordinate to superior lien(s) in an aggregate amount that shall not exceed the lesser of$70,999.00,or the existing balance of said superior lien(s). 2. Maintenance: To keep such property in good condition and repair; to complete or restore promptly and in good and workmanlike manner any building which may be constructed,damaged or destroyed thereon and to pay,when due,all claims for labor performed and materials furnished therefore and for any alterations thereof; to comply with the provisions of restrictions affecting such property; not to remove, demolish or materially alter any building,or the character or use thereof at any time thereon;not to drill or extract nor to permit the drilling for or extraction of oil,gas or other hydrocarbon substances or any mineral of any kind unless the written consent of Beneficiary is first had and obtained;not to commit or permit any waste thereof or any act upon such property in violation of law; to do all other acts in a timely and proper manner which from the character or use of such property may be reasonably necessary to protect and preserve said security, the specific enumerations herein not excluding the general. 3. Construction of Improvements: To complete in good and workmanlike manner any building or improvement or repair relating thereto which may be begun on such property or contemplated by the loan secured hereby,to pay when due all costs and liabilities incurred therefore,and not to permit any construction lien against such property. Trustor also agrees,anything in this Deed of Trust to the contrary notwithstanding: (a)to promptly commence work and to complete the proposed improvements promptly, (b) to complete same in accordance with plans and specifications as approved by Beneficiary, (c) to comply with all of the terms of any construction loan agreement between Trustor and Beneficiary, (d) to allow Beneficiary to inspect such property at all times during construction, and (e) to replace any work or materials unsatisfactory to Beneficiary, within fifteen (15)days after written notice from Beneficiary of such fact, which notice may be given to Trustor by registered or certified mail,sent to his last known address,or by personal service of the same. 4. Fire and Casualty Insurance: To keep such property insured against loss or damage of fire and other risk or risks which, in the opinion of Beneficiary should be insured against,under policies of insurance with loss payable to Beneficiary in form,amount and companies acceptable to Beneficiary. Said policies shall be delivered to and remain in possession of Beneficiary as further security for the faithful performance of these obligations, which delivery shall constitute an assignment by Trustor to beneficiary to all rights thereunder, including all return premiums; to deliver to beneficiary a policy or policies renewing or extending any expiring insurance with a receipt showing premiums paid at least thirty(30) days before expiration. If Trustor fails to so deliver any renewal policies, Beneficiary may procure such insurance as it may elect and make payment of premiums thereon, which payment is repayable on demand. Neither Trustee nor Beneficiary shall be responsible for obtaining or maintaining such insurance. Beneficiary, from time to time, may furnish to any insurance agency or company, or any other person, any information contained in or extracted from any insurance policy theretofore delivered to Beneficiary pursuant hereto, and any information concerning the loan secured hereby. in no event and whether or not default hereunder has occurred shall Beneficiary, by the fact of approving, accepting or obtaining such insurance, incur any liability for the amount of such insurance,the form or legal sufficiency of insurance contracts, solvency of insurers, or payment of losses by insurers, and Trustor hereby expressly assumes full responsibility therefore and liability, if any, thereunder. In the event of loss,Trustor shall give immediate written notice to Beneficiary,and Beneficiary may, but is not obligated to, make proof of loss if not made promptly by Trustor. In case of any loss the amount collected under any policy of insurance on such property may, at the option of the Beneficiary, be applied by Beneficiary upon any indebtedness and/or obligation secured hereby and in such order and amount as Beneficiary may determine; or said amount or any portion thereof may, at the option of the beneficiary, either be used in replacing or restoring the Improvements partially or totally destroyed to a condition satisfactory to said Beneficiary, or said amount, or any portion thereof, may be released to the Trustor. in any such event neither the Trustee nor the Beneficiary shall be obligated to see the proper application thereof; nor shall the amount so released or used be deemed a payment on any indebtedness secured hereby. Such application, use,and/or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. Any unexpired insurance and all returnable insurance premiums shall inure to be the benefit of, and pass to,the purchaser of the property covered thereby at any Trustee's sale held hereunder. If said property is sold pursuant to the power of sale contained herein or pursuant to any decree of foreclosure, all right, title and interest of Trustor in and to the proceeds of fire and other insurance policies for damage prior to the sale, which proceeds are not received prior to the date of said sale,shall belong to Beneficiary. Page 2 of 6 Revised 1/31/06 5. Taxes and Other Sums Due: To pay, satisfy and discharge, at least ten (10) days before delinquency, all general and special taxes and assessments affecting such property,and in no event later than the date such amounts become due: (1)all encumbrances,charges and liens,with interest, on such property, or any part thereof, which are, or appear to Beneficiary to be prior to or superior hereto, (2) all costs, fees and • expenses of that trust, whether or not described herein, (3) fees or charges for any statement regarding the obligation secured hereby in any amount demanded by Beneficiary,not to exceed the maximum amount allowed by law therefore at the time when such request is made,(4)such other charges as the Beneficiary may deem reasonable for services rendered by Beneficiary and furnished at the request of Trustor or any successor in interest to Trustor, (5) if such property includes a leasehold estate, all payments and obligations required of the Trustor, or his successor in interest, under the terms of the instruments or instruments creating such leasehold,Trustor hereby agreeing not to amend, change, or modify his leasehold interest or the terms on which he has such leasehold interest, or to do so without the written consent of Beneficiary being first obtained, (6) all payments and monetary obligations required of the owner of such property under any declaration of covenants, conditions and restrictions pertaining to such property or any modification thereof. Should Trustor fail to make any such payment,Beneficiary, . without contesting the validity or amount, may elect to make or advance such payment, together with any costs, expenses, fees or charges relating thereto, including employing counsel and paying his reasonable fees. Trustor agrees to notify Beneficiary immediately upon receipt by Trustor of notice of any increase in the assessed value of such property and agrees that Beneficiary, in the name of Trustor, may contest by appropriate proceedings such increase in assessment. In the event of the passage of any law deducting from the value of real property for the purposes of taxation any lien thereon or changing in any way the laws for the taxation of deeds of trust or debts secured by deeds of trust for state or local purposes, or the manner of the collection of any such taxes, so as to affect this Deed of Trust,the holder of this Deed of Trust and of the obligations which it secures shall have the right to declare all sums secured hereby due as of a date to be specified by not less than 30 days' written notice to be given to Trustor by Beneficiary; provided, however, that such election shall be ineffective if Trustor is permitted by law to pay the whole of such tax in addition to all other payments required hereunder and if, prior to such specified date, does pay such tax and agrees to pay any such tax when hereafter levied or assessed against such property. 6. Sums Advanced to Bear Interest: To pay upon demand any sums advanced or paid by Beneficiary or Trustee under any clause or provision of this Deed of Trust. Any such sums,until so repaid,shall be secured hereby and bear interest from the date advanced or paid at the default rate in the Promissory Note and shall be secured by this Deed of Trust. 7. Assignment of Deposits: That as further additional security if this be a construction loan, Trustor hereby transfers and assigns to Beneficiary during continuance of these Trusts,all rights,title and interest to any and all monies deposited by Trustor or deposited on behalf of Trustor with any city,county,public body or agency,sanitary district,gas and/or electric company,telephone company and any other body or agency,for the installation or to secure the installation of any utility by Trustor,pertaining to such property. • 8. Failure of Trustor to Comply with Deed of Trust: Should Trustor fail to make any payment, or to do any act as provided in this Deed of Trust, or fail to perform any obligation secured by this Deed of Trust, or do any act Trustor agreed not to do, Trustor shall be in default under this Deed of Trust. Beneficiary, but without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof and without contesting the validity or amount of the same,may(a) make or do the same in such manner and to such extent as it may deem necessary to protect the security hereof,Beneficiary being authorized to enter upon such property for such purposes,and (b) pay, purchase,contest or compromise any encumbrance, charge or lien, which in its judgment is or appears to be prior or superior hereto, and(c)in exercising any such power, pay necessary expenses,employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary. IT IS MUTUALLY AGREED THAT: 9. Litigation: Trustor shall defend this Trust in any action or proceeding purporting to affect such property, whether or not it affects the security hereof, or purporting to affect the rights or powers of Beneficiary or Trustee, and shall file and prosecute all necessary claims and actions to prevent or recover for any damage to or destruction of such property,and either Trustee or Beneficiary is hereby authorized,without obligation so to do, to commence, appear in or defend any such action, whether brought by or against Trustor, Beneficiary or Trustee, or with or without suit,to exercise or enforce any other right,remedy or power available or conferred hereunder,whether or not judgments be entered in any action or proceeding; and Trustor or Beneficiary may appear or intervene in any action or proceeding,and retain counsel therein; and take such action therein, as either may be advised and may settle, compromise or pay the same or any other claims and, in the behalf and for any of said purposes, may expend and advance such sums of money as either may deem necessary. Whether or not Trustor so appears or defends,Trustor on demand shall pay all costs and expenses of Beneficiary and Trustee, including costs of evidence of title and attomey's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by virtue of being made a party defendant or otherwise and irrespective of whether the interest of Beneficiary or Trustee in such property is directly questioned by such action, including but not limited to any action for the condemnation or partition of such property. 10. Condemnation: All sums due, paid or payable to Trustor, or any successor in interest of Trustor, whether by way of judgment, settlement or otherwise,(a)for injury or damage to such property,or(b)in connection with any condemnation for public use or injury to such property or any part thereof, or(c) in connection with the transaction financed by the loan secured hereby, or (d) arising out of all causes of action, whether accruing before or after the date of this Deed of Trust, sounding in tort or contract, including causes of action for fraud or concealment of a material fact, together with the settlements, proceeds, awards and damages, direct and consequential, in connection therewith, are hereby absolutely and irrevocably assigned and shall be paid to Beneficiary. Beneficiary shall be entitled, at its option, to commence, intervene in, appear in and prosecute in its own name, any action or proceeding, or to make any compromise or settlement, in connection with any such taking or damage. Trustor agrees to execute such further assignments of any compensation, award, damages, rights of action and proceeds as Beneficiary may acquire. Page 3 of 6 Revised 1/31/06 All amounts received by Beneficiary pur.._...nt to this Deed of Trust under any fire or othe.. insurance policy, in connection with any condemnation for public use of or injury to such property, for injury or damage to such property or in connection with the transaction financed by the loan secured hereby are to be applied, at the option of Beneficiary, upon any indebtedness secured hereby. No such application, use or release shall cure or waive any default,or notice of default,hereunder or invalidate any act done pursuant to such notice. 1 1. Consent, Partial Reconveyance, Etc.: That at any time, or from time to time, without liability therefore, and without notice, upon written request of Beneficiary, and without affecting the personal liability of any person for payment of the indebtedness secured hereby, or the lien of this Deed of Trust upon the remainder of such property for the full amount of the indebtedness then or thereafter secured hereby,or the rights or powers of the Beneficiary or Trustee with respect to the remainder of such property. Trustee may(a) reconvey any part of such property, (b) consent to the making of any map or plat thereof, (c)join in granting any easement thereon, or(d)join in any extension agreement or any agreement subordinating the lien or charge hereof. 12. Full Reconveyance: Upon written request of Beneficiary stating that all sums secured hereby have been paid. Trustee shall reconvey, without warranty, the property then held hereunder. The recitals in such reconveyance of any matters of fact shall be conclusive proof of the truthfulness thereof. The grantee in such reconveyance may be designated as "the person or persons legally entitled thereto." Such request and reconveyance shall operate as a reassignment of the rents,income, issues and profits herein before assigned to Beneficiary. 13. Right to Collect and Receive Rents and Profits:Notwithstanding any other provisions hereof, Beneficiary hereby grants permission to Trustor to collect and retain the rents, income, issues and profits of such property as they become due and payable,but reserves the right to revoke such permission at any time, with or without cause, by notice in writing to Trustor, mailed to Trustor at his last known address. In any event, such permission to Trustor automatically shall be revoked upon default by Trustor in payment of indebtedness secured hereby or in the performance of any agreement hereunder. On any such default, Beneficiary may at any time without notice, either in person,by agent, or by receiver to be appointed by the court,and without regard to the adequacy of any security for the indebtedness secured hereby, enter upon and take possession of such property,or any part thereof,make,cancel enforce or modify leases;obtain and eject tenants,set or modify rents; in its own name sue or otherwise collect the rents, income,issues and profits thereof,including those past due and unpaid;and apply the same, less costs and expenses of operation and collection, including reasonable attorneys' fees, upon any indebtedness secured hereby and in such order as Beneficiary may determine; and except for such application, Beneficiary shall not be liable to any person for the collection or noncollection of any rents, income, issues or profits, for the failure to assert or enforce any of the foregoing rights, nor shall Beneficiary be charged with any of the duties and obligation of a mortgagee in possession. The entering upon and taking possession of such property,the collection of such rents, income, issues or profits, the doing of other acts herein authorized, and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. 14. Judicial Foreclosure or Trustee's Sale on Default: Upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, or any agreement secured hereby, Beneficiary may declare all sums secured hereby immediately due and payable and, at the option of the Beneficiary, this Deed of Trust may be foreclosed in the manner provided by law for the foreclosure of mortgages on real property; or may be sold in the manner provided in the Nebraska Trust Deeds Act under the power of sale conferred upon the Trustee hereunder. In the event that the property is sold pursuant to the power of sale conferred upon the Trustee hereunder,the Trustee shall cause to be filed of record a written notice of default and election to sell such property. After the lapse of such time as then may be required by law following recordation of such notice of default, and notice of sale having been given as then required by law, Trustee, without demand on Trustor, shall sell such property,either as a whole or in separate parcels, and in such order as it or Beneficiary may determine at public auction to the highest bidder. Trustee may postpone the sale of all or any portion of such property by public announcement at the time and place of sale, and from time to time thereafter may postpone the sale by public announcement at the time and place fixed by the preceding postponement. Trustee shall deliver to such purchaser its deed conveying the property so sold,but without any covenant or warranty,express or implied. The recital in such deed of any matters of fact or otherwise shall be conclusive proof of the truthfulness thereof. Any person, including Trustor, Trustee or Beneficiary, may purchase at such sale. Trustee may also sell at any sale and as part thereof any shares of corporate stock securing the obligation secured hereby, and Trustor waives demand and notice of such sale. (Beneficiary at its option may also foreclose on such shares by independent pledge sale,and Trustor waives demand and notice of such sale.) The Trustee shall apply the proceeds of the Trustee's sale,first,to the costs and expenses of exercising the power of sale and of the sale, including the payment of Trustee's fees actually incurred,not to exceed five percent of the principal balance unpaid at the time of recording the notice of default, second,to the payment of the obligation secured by this trust deed, third, to the payment of junior trust deeds, mortgages or other liens, and the balance, if any, to the person or persons legally entitled thereto. Upon any default under this Deed of Trust or any note secured hereby and following any acceleration of maturity of the indebtedness secured hereby, a tender of payment of the amount necessary to satisfy the entire indebtedness secured hereby, made at any time prior to a foreclosure sale,whether under the power of sale contained herein or pursuant to judicial foreclosure proceedings,shall constitute an evasion of the payment terms hereof and shall be deemed a voluntary prepayment of the indebtedness; and any such payment, to the extent permitted by law, must, therefore, include a premium required under the prepayment privilege,if any,contained in any note secured hereby;or, if at that time there shall be no privilege of prepayment,then such payment,to the extent permitted-by law,will include a premium for such prepayment of five percent of the then principal balance. 15. Personal Property:This Deed of Trust is also intended to encumber and create,and Trustor does hereby grant to Beneficiary,a security interest in any and all of such property which is personal property owned by Trustor and now or hereafter located on or used in connection with such property including, but not limited to, all equipment, fixtures, furniture,appliances and articles of personal property owned by Trustor and now or hereafter located on, attached to or used in and about the improvements which are necessary to the complete and comfortable use and occupancy of the Improvements for all purposes for which they are intended and such other goods and chattels and personal property owned by Trustor as are ever to be used or furnished in operating the Improvements, or the activities conducted therein,and all renewals or replacements Page 4 of 6 Revised 1/31/06 ere the lowest responsible bid from a resident bidder is equal in all respects to one from a nonresident bidder from a state which has no preference law,the resident bidder shall be awarded the contract. NONDISCRIMINATION-The Nebraska Fair Employment Practice Act prohibits contractors of the State of Nebraska,and their subcontractors,from discriminating • against any employee or applicant for employment,to be employed in the performance of such contracts,with respect to hire,tenure,terms,conditions or privileges of employment because of race,color,religion,sex,disability,or national origin.(State Statute Sections 48-1101 through 48-1125)The bidder guarantees compliance • with the Nebraska Fair Employment Practice Act,and breach of this provision shall be regarded as a material breach of contract.The contractor shall insert a similar provision In all subcontracts for services to be covered by any contract resulting from this Invitation to Bid. TAXES-Purchases made by the State of Nebraska are exempt from the payment of Federal Excise Taxes,and exemption certificates will be furnished on request. State and local taxes are exempt by State Statute Section 77-2704(I)(m)R.R.S.1943 and must not be included in the bid prices.Exemption by statute precludes the furnishing of State exemption certificates. DRUG POLICY-Bidder certifies that it maintains a drug free work place environment to ensure worker safety and workplace integrity. Contractor agrees to provide a copy of its drug free workplace policy at any time upon request by the State. GRIEVANCE AND PROTEST-Grievance and protest procedure is available by contacting the buyer.Protest must be filed within ten(10)days of award. NE ACCESS TECHNOLOGY STANDARDS-Vendor agrees to ensure compliance with Nebraska Access Technology Standards. See website at: http:/www.nitc.state.ne.us/standards/accessibility/ Revised: 02/2004 6 OF 6 thereof or therefore, whether or not the sal.._ shall be attached to the Improvements in any mam,—, and all building materials and equipment hereafter situated on or about the Real Estate or the Improvements. The foregoing security interest shall also cover Trustor's leasehold interest in any of the foregoing items, which are leased by Trustor. Trustor shall, from time to time, upon request of Beneficiary, provide Beneficiary with a current inventory of all of the personal property in such detail as Beneficiary may require. 16. Security Agreement: This Deed of Trust constitutes a security agreement between Trustor and Beneficiary with respect to all personal property in which Beneficiary is granted a security interest hereunder, and, cumulative of all other rights and remedies of Beneficiary hereunder. Beneficiary shall have all of the rights and remedies of a secured party under the Nebraska Uniform Commercial Code. Trustor hereby agrees to execute and deliver on demand and hereby irrevocably constitutes and appoints Beneficiary the attorney-in-fact of Trustor to execute and deliver and, if appropriate,to file with the appropriate filing officer or officers such security agreements, financing statements,continuation statements or other instruments as Beneficiary may request or require in order to impose, perfect or continue the perfection of the lien or security interest created hereby. Upon the occurrence of any default hereunder not cured within any applicable grace period, Beneficiary shall have the right to cause any of such property which is personal property and subject to security interest of Beneficiary hereunder to be sold in one of public or private sales as permitted by applicable law, including at a sale held in conjunction with the sale of such property by Trustee,as provided for in this Deed of Trust, and Beneficiary shall further have all rights and remedies, whether at law in equity or by statute,as are available to secured creditors under applicable law. Any such disposition may be conducted by an employee or agent of Beneficiary or Trustee. Expenses of retaking, holding, preparing for sale, selling or the like shall be born by Trustor and shall include Beneficiary's and Trustee's fees and legal expenses. Beneficiary shall have the right to enter upon the Real Estate and the Improvements or any other real property or any personal property which is the subject of the security interest granted herein as located to take possession of,assemble and collect such personal property or to render it usable, or Trustor, upon demand of Beneficiary, shall assemble such personal property and make it available to Beneficiary at a place deemed reasonably convenient to Beneficiary. If notice is required by law, Beneficiary shall give Trustor at least five (5) days prior written notice of the time and place of any public sale or other disposition of such property or of the time of or after which any private sale or other intended disposition is to be made, and, if such notice is sent to Trustor, as the same is provided for the mailing of notices herein, it is hereby deemed that such notice shall be and is reasonable notice to Trustor. Any sale made pursuant to the provisions of this paragraph shall be deemed to have been a public sale conducted in a reasonably commercial manner if held contemporaneously with the sale under the power of sale granted in this Deed of Trust upon giving the same notice with respect to the sale under the power of sale given the Trustee under this Deed of Trust. 17. Fixture Financing Statement: This Deed of Trust is intended to be a financing statement within the purview of the Nebraska Uniform Commercial Code with respect to those items of such property as constitute fixtures on the Real Estate. The address of Trustor(Debtor)and Beneficiary(Secured Party) are set forth on the first page of this Deed of Trust. This Deed of Trust is to be filed for record with the Douglas County Register of Deeds where the real estate is located. Trustor is the record owner of the real estate. 18. Substitution of Trustee: That Beneficiary may,from time to time, by instrument in writing,substitute a successor or successors to any Trustee named herein or acting hereunder, which instrument executed and acknowledged by Beneficiary and recorded in the office of the register of deeds of the county or counties where such property is situated,shall be conclusive proof of proper substitution of such Trustee or Trustees,who shall,without conveyance form the Trustee predecessor,succeed to all its title,estate,rights,power and duties. • 19. No Waiver by.Beneficiary: No waiver by Beneficiary of any right under this Deed of Trust shall be effective unless in writing. Waiver of Beneficiary of any right granted to Beneficiary under this Deed of Trust or of any provision of this Deed of Trust as to any transaction or occurrences shall not be deemed a waiver as to any future transaction or occurrences. By accepting payment of any sum secured hereby after its due date, or by making any payment or performing any act on behalf of Trustor that Trustor was obligated hereunder, but failed to make or perform, or by adding any payment so made by Beneficiary to the indebtedness secured hereby,Beneficiary does not waive its right to require prompt payment when due of all other sums so secured or to require prompt performance of all other acts required hereunder, or to declare a default for failure so to pay. 20. Waiver of Statute of Limitations: Time is of the essence in all Trustor's obligations hereunder; and to the extent permitted by law, Trustor waives all present or future statutes of limitations with respect to any debt,demand or obligation secured hereby in any action or proceeding for the purpose of enforcing this Trust or any right or remedies hereunder. 21. Inspection and Business Records: Beneficiary at any time during the continuation of this Trust may enter and inspect such property at any reasonable time. Trustor agrees that in the event such property is now or hereafter used for commercial or residential income purposes, when requested by Beneficiary,Trustor will promptly deliver to Beneficiary,such certified financial statements and profit and loss statements of such types and at such intervals as may be required by Beneficiary,which will be in form and content prepared according to the usual and acceptable accounting principles and practices,which statements shall cover the financial operations relating to such property. Trustor further agrees when requested by Beneficiary to promptly deliver in writing such further additional information as required by Beneficiary relating to any such financial statements. 22. Acceleration Clause: Should Trustor be in default under this Deed of Trust, or should Trustor, or any successor in interest of Trustor, voluntarily or involuntarily sell,exchange,convey,transfer,contract to sell,lease with option to purchase,sublease,change the character or use of,or further encumber such property,or any part thereof,or any interest therein;or if any said parties shall be divested of title to such property, or any part thereof, or any interest therein, either voluntarily, or involuntarily; or if title to such property be subjected to any lien or charge, voluntarily or involuntarily, contractual or statutory, without the written consent of Beneficiary being first had and obtained, then Beneficiary shall have the right, at its option, to declare all sums secured hereby forthwith due and payable; and this same right of acceleration shall be available to Beneficiary if the undersigned is a partnership and any interest of a general partner terminates, is assigned or transferred, or is diminished;or if the undersigned is a corporation and any of the corporate stock is transferred,sold or assigned;or if the undersigned is a trustee of a trust and there is a change of any of the beneficial interest of the trust. Page 5 of 6 Revised 1/31/06 therein,and all renewals or replacements Page 4 of 6 Revised 1/31/06 ere the lowest responsible bid from a resident bidder is equal in all respects to one from a nonresident bidder from a state which has no preference law,the resident bidder shall be awarded the contract. NONDISCRIMINATION-The Nebraska Fair Employment Practice Act prohibits contractors of the State of Nebraska,and their subcontractors,from discriminating • against any employee or applicant for employment,to be employed in the performance of such contracts,with respect to hire,tenure,terms,conditions or privileges of employment because of race,color,religion,sex,disability,or national origin.(State Statute Sections 48-1101 through 48-1125)The bidder guarantees compliance • with the Nebraska Fair Employment Practice Act,and breach of this provision shall be regarded as a material breach of contract.The contractor shall insert a similar provision In all subcontracts for services to be covered by any contract resulting from this Invitation to Bid. TAXES-Purchases made by the State of Nebraska are exempt from the payment of Federal Excise Taxes,and exemption certificates will be furnished on request. State and local taxes are exempt by State Statute Section 77-2704(I)(m)R.R.S.1943 and must not be included in the bid prices.Exemption by statute precludes the furnishing of State exemption certificates. DRUG POLICY-Bidder certifies that it maintains a drug free work place environment to ensure worker safety and workplace integrity. Contractor agrees to provide a copy of its drug free workplace policy at any time upon request by the State. GRIEVANCE AND PROTEST-Grievance and protest procedure is available by contacting the buyer.Protest must be filed within ten(10)days of award. NE ACCESS TECHNOLOGY STANDARDS-Vendor agrees to ensure compliance with Nebraska Access Technology Standards. See website at: http:/www.nitc.state.ne.us/standards/accessibility/ Revised: 02/2004 6 OF 6 23. Remedies: No remedy herein provided s,._.. be exclusive of any other remedy herein or no or hereafter existing by law, but shall be cumulative. Every power of remedy hereby given to Trustee or Beneficiary, or to which either of them may be otherwise entitled, may be exercised from time to time and as often as may be deemed expedient by them, and either of them may pursue inconsistent remedies. If Beneficiary holds any additional security for any obligation secured hereby, it may enforce the sale thereof at its option, either before, contemporaneously with, or after the sale is made hereunder, and on any default of Trustor, Beneficiary may, at its option, offset against any indebtedness secured hereby,and the Beneficiary is hereby authorized and empowered at its option,without any obligation so to do,and without affecting the obligations hereof,to apply toward the payment of any indebtedness of the Trustor to the Beneficiary any and all sums of money of Trustor which Beneficiary may have in its possession or under its control,including without limiting the generality of the foregoing,any savings account,deposit,investment certificate,escrow or trust funds. 24. Acknowledgment: Trustor agrees and acknowledges that prior to the execution of this Deed of Trust,Trustor did acknowledge in writing and hereby confirms again that(a)this Deed of Trust is not a mortgage,but a deed of trust, (b)that the power of sale provided for herein provides substantially different rights and obligations for Trustor than a mortgage in the event of a default or breach of any obligation hereunder, and(c) the aforementioned written acknowledgment was executed prior to the execution of this Deed of Trust. 25. Law Applicable:That this Deed of Trust shall be construed according to the laws of the State of Nebraska. 26. Illegality: In the event that any provision or clause of this Deed of Trust conflicts with applicable law, such conflict shall not affect other provisions of this Deed of Trust which can be given effect without the conflicting provision,and to this end the provisions of this Deed of Trust are declared to be severable. 27. General Provisions: (a) This Deed of Trust applies to, inures to the benefit of, and binds all parties hereto, their heirs, legatees, devisees, administrators, executors,successors and assigns. (b)The term"Beneficiary" shall mean the owner and holder(including a pledge)of any note secured hereby,whether or not named as Beneficiary herein. (c)Wherever the context so requires,the masculine gender includes the feminine and neuter,the singular number includes the plural,and vice versa. (d)Captions and paragraph headings used herein are for convenience only, are not a part of this agreement,and shall not be used in construing it. If more than one person is named herein as Trustor, each obligation of Trustor shall be the joint and several obligation of each such person. The rights or remedies granted hereunder, or by law, shall not be exclusive,but shall be concurrent and cumulative. 28. Trustee accepts this Trust when this Deed of Trust, duly executed and acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or any action or proceeding in which Trustor,Beneficiary or Trustee shall be party,unless brought by Trustee. 29. Address Mailing Notice: Trustor hereby requests that a copy of any notice of default and a copy of any notice of sale hereunder shall be mailed to each person itemized below at the address indicated: Monique M.Cribbs,5347 North 47'1'Avenue,Omaha,NE 68104 IN WITNESS WHEREOF,Trustor has executed this Deed of Trust on the date first above written. By: LP/1 i bw l i" l • �'C��✓Y Monique M. ibbs,a single person , (CORPORATE SEAL) STATE OF NEBRASKA ) )§ COUNTY OF DOUGLAS ) On this 21st day of July, 2006, before me, the undersigned, a Notary Public duly commissioned and qualified in and for said county, personally came Monique M. Cribbs, a single person, to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that she executed the same as her voluntary act and deed for the purposes therein stated. Witness my hand and notarial seal the day and year last above written. , i My commission expires ��v • Notary Public ii GENERAL NOTARY-State of Nebraska KELLYJ.MUNDT arch 28,2008 • Page 6 of 6 Revised I/31/06 rcising any such power, pay necessary expenses,employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary. IT IS MUTUALLY AGREED THAT: 9. Litigation: Trustor shall defend this Trust in any action or proceeding purporting to affect such property, whether or not it affects the security hereof, or purporting to affect the rights or powers of Beneficiary or Trustee, and shall file and prosecute all necessary claims and actions to prevent or recover for any damage to or destruction of such property,and either Trustee or Beneficiary is hereby authorized,without obligation so to do, to commence, appear in or defend any such action, whether brought by or against Trustor, Beneficiary or Trustee, or with or without suit,to exercise or enforce any other right,remedy or power available or conferred hereunder,whether or not judgments be entered in any action or proceeding; and Trustor or Beneficiary may appear or intervene in any action or proceeding,and retain counsel therein; and take such action therein, as either may be advised and may settle, compromise or pay the same or any other claims and, in the behalf and for any of said purposes, may expend and advance such sums of money as either may deem necessary. Whether or not Trustor so appears or defends,Trustor on demand shall pay all costs and expenses of Beneficiary and Trustee, including costs of evidence of title and attomey's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by virtue of being made a party defendant or otherwise and irrespective of whether the interest of Beneficiary or Trustee in such property is directly questioned by such action, including but not limited to any action for the condemnation or partition of such property. 10. Condemnation: All sums due, paid or payable to Trustor, or any successor in interest of Trustor, whether by way of judgment, settlement or otherwise,(a)for injury or damage to such property,or(b)in connection with any condemnation for public use or injury to such property or any part thereof, or(c) in connection with the transaction financed by the loan secured hereby, or (d) arising out of all causes of action, whether accruing before or after the date of this Deed of Trust, sounding in tort or contract, including causes of action for fraud or concealment of a material fact, together with the settlements, proceeds, awards and damages, direct and consequential, in connection therewith, are hereby absolutely and irrevocably assigned and shall be paid to Beneficiary. Beneficiary shall be entitled, at its option, to commence, intervene in, appear in and prosecute in its own name, any action or proceeding, or to make any compromise or settlement, in connection with any such taking or damage. Trustor agrees to execute such further assignments of any compensation, award, damages, rights of action and proceeds as Beneficiary may acquire. Page 3 of 6 Revised 1/31/06 SCHEDULE"A" HOMEBUYER PROMISSORY NOTE DEFERRED PAYMENT LOAN Date: July 21,2006 Project: HNHC Revolving Loan Number: 04-HOME/0507 Borrower: Monique M. Cribbs, a single person Property Address: 5347 North 47`1'Avenue,Omooaha,NE 68104 Legal Description: Lot 25, Block 4,Alscher Homes, an addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska FOR VALUE RECEIVED, the Undersigned jointly and severally promise(s) to pay without interest to the order of the CITY OF OMAHA (hereinafter referred to as the "CITY"), acting by and through the Director of the Planning Department (hereinafter referred to as the "Director") or its successors, the Principal Amount of Twenty- five Thousand and No/100 Dollars ($25,000.00), comprised of$15,000.000 HOME funds and $10,000.00 ADDI HOME funds. The Principal on this Note is payable on the first day after the Undersigned conveys, grants, mortgages, assigns or no longer resides in the property as their principal place of residence, or otherwise transfer their interest or a portion thereof in the property or improvements at 5347 North 47th Avenue as legally described above without the prior written consent of the Director, in lawful money of the United States at the principal Office of the City of Omaha,Planning Department, 1819 Farnain Street,Room 1111,Omaha,Nebraska, 68183, or at such other places as shall be designated by the City. The Principal on this Note shall depreciate at the rate of five percent (5%) per year from the date of this Note, for ten (10) years if the Undersigned does not convey, grant, mortgage, assign or transfer a portion of the property or improvements thereon and continues to reside in the property as their principal place of residence. The remaining 50% balance of the Principal on this Note shall become due upon sale or transfer of the property or the Undersigned may choose to repay this balance through terms and conditions of repayment as determined by the City. The Undersigned reserve(s) the right to prepay at any time all or any part of the principal amount of this Note without the payment of penalties or premiums. IN THE EVENT the Undersigned shall fail to pay the principal amount of this Note when due, the Undersigned shall pay to the CITY a late charge of 4%per calendar month, or a fraction thereof, on the amount past due and remaining unpaid. In the event that this Note should be reduced to judgment, such judgment shall bear interest thereon at the statutory rate,but not to exceed 9%per annum. IF suit is instituted by the City to recover this Note, the Undersigned agrees to pay all costs of such collection, including reasonable attorney's fees and court costs. THIS NOTE is secured by no less than a Second Deed of Trust subordinate to superior lien(s) in an aggregate amount that shall not exceed the lesser of$67,000.00, or the existing balance of said superior lien(s), plus eligible,reasonable closing costs,duly filed for record in Douglas County,Nebraska. DEMAND, protest and notice of demand and protest are hereby waived, and the Undersigned hereby waives, to the extent authorized by law, any and all homestead and other exemption rights which otherwise would apply to the debt evidenced by this Note. IN WITNESS WHEREOF, this Note has been duly executed by the Undersigned, as of the day and year above set forth. • L 1/`�'I Cal C • c J Monique M. Abbs, a single person Witness Witness Revised: 3/27/06 d: Monique M.Cribbs,5347 North 47'1'Avenue,Omaha,NE 68104 IN WITNESS WHEREOF,Trustor has executed this Deed of Trust on the date first above written. By: LP/1 i bw l i" l • �'C��✓Y Monique M. ibbs,a single person , (CORPORATE SEAL) STATE OF NEBRASKA ) )§ COUNTY OF DOUGLAS ) On this 21st day of July, 2006, before me, the undersigned, a Notary Public duly commissioned and qualified in and for said county, personally came Monique M. Cribbs, a single person, to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that she executed the same as her voluntary act and deed for the purposes therein stated. Witness my hand and notarial seal the day and year last above written. , i My commission expires ��v • Notary Public ii GENERAL NOTARY-State of Nebraska KELLYJ.MUNDT arch 28,2008 • Page 6 of 6 Revised I/31/06 rcising any such power, pay necessary expenses,employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary. IT IS MUTUALLY AGREED THAT: 9. Litigation: Trustor shall defend this Trust in any action or proceeding purporting to affect such property, whether or not it affects the security hereof, or purporting to affect the rights or powers of Beneficiary or Trustee, and shall file and prosecute all necessary claims and actions to prevent or recover for any damage to or destruction of such property,and either Trustee or Beneficiary is hereby authorized,without obligation so to do, to commence, appear in or defend any such action, whether brought by or against Trustor, Beneficiary or Trustee, or with or without suit,to exercise or enforce any other right,remedy or power available or conferred hereunder,whether or not judgments be entered in any action or proceeding; and Trustor or Beneficiary may appear or intervene in any action or proceeding,and retain counsel therein; and take such action therein, as either may be advised and may settle, compromise or pay the same or any other claims and, in the behalf and for any of said purposes, may expend and advance such sums of money as either may deem necessary. Whether or not Trustor so appears or defends,Trustor on demand shall pay all costs and expenses of Beneficiary and Trustee, including costs of evidence of title and attomey's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by virtue of being made a party defendant or otherwise and irrespective of whether the interest of Beneficiary or Trustee in such property is directly questioned by such action, including but not limited to any action for the condemnation or partition of such property. 10. Condemnation: All sums due, paid or payable to Trustor, or any successor in interest of Trustor, whether by way of judgment, settlement or otherwise,(a)for injury or damage to such property,or(b)in connection with any condemnation for public use or injury to such property or any part thereof, or(c) in connection with the transaction financed by the loan secured hereby, or (d) arising out of all causes of action, whether accruing before or after the date of this Deed of Trust, sounding in tort or contract, including causes of action for fraud or concealment of a material fact, together with the settlements, proceeds, awards and damages, direct and consequential, in connection therewith, are hereby absolutely and irrevocably assigned and shall be paid to Beneficiary. Beneficiary shall be entitled, at its option, to commence, intervene in, appear in and prosecute in its own name, any action or proceeding, or to make any compromise or settlement, in connection with any such taking or damage. Trustor agrees to execute such further assignments of any compensation, award, damages, rights of action and proceeds as Beneficiary may acquire. Page 3 of 6 Revised 1/31/06 • October 13, 2009 City of Omaha Planning Office 1819 Farnam Street, Suite 1100 Omaha,NE 68183 Ref: 5347 North 47th Ave Dear Ms. Diesing, I am writingthis letter to request a loan modification on mycitysecond mortgage in the q amount of$22,500. The first mortgage balance is 70,000 from US Bank. Commission • average is 7%. Plus I may need to help pay the buyer's closing cost,which are on average 3%. My goal is to break even to cover my two loan balances. I am asking that the remaining balance be forgiven. My home is scheduled to go on the market mid October for$100,000. I originally purchased my home for$93,000 in July 2006. The asking price is to accommodate realtor's commission and closing costs. I had 3 realtors appraise my home and the pricing results ranged from$69,000-$85,000 still drastically less than what I purchased my home for. By forgiving the entire second loan my home could be competitively priced with other homes on the market. This would greatly increase my chances of successfully selling my home. The realtors' letters and appraisals are included for review. Please grant my request to forgive my city second mortgage, so that I can adjust my selling price. The home is in excellent condition and is move- in ready for a new family. Thank you for your time and consideration. Sincerely, . Monique . Cribbs 402-813-3417 pal on this Note shall depreciate at the rate of five percent (5%) per year from the date of this Note, for ten (10) years if the Undersigned does not convey, grant, mortgage, assign or transfer a portion of the property or improvements thereon and continues to reside in the property as their principal place of residence. The remaining 50% balance of the Principal on this Note shall become due upon sale or transfer of the property or the Undersigned may choose to repay this balance through terms and conditions of repayment as determined by the City. The Undersigned reserve(s) the right to prepay at any time all or any part of the principal amount of this Note without the payment of penalties or premiums. IN THE EVENT the Undersigned shall fail to pay the principal amount of this Note when due, the Undersigned shall pay to the CITY a late charge of 4%per calendar month, or a fraction thereof, on the amount past due and remaining unpaid. In the event that this Note should be reduced to judgment, such judgment shall bear interest thereon at the statutory rate,but not to exceed 9%per annum. IF suit is instituted by the City to recover this Note, the Undersigned agrees to pay all costs of such collection, including reasonable attorney's fees and court costs. THIS NOTE is secured by no less than a Second Deed of Trust subordinate to superior lien(s) in an aggregate amount that shall not exceed the lesser of$67,000.00, or the existing balance of said superior lien(s), plus eligible,reasonable closing costs,duly filed for record in Douglas County,Nebraska. DEMAND, protest and notice of demand and protest are hereby waived, and the Undersigned hereby waives, to the extent authorized by law, any and all homestead and other exemption rights which otherwise would apply to the debt evidenced by this Note. IN WITNESS WHEREOF, this Note has been duly executed by the Undersigned, as of the day and year above set forth. • L 1/`�'I Cal C • c J Monique M. Abbs, a single person Witness Witness Revised: 3/27/06 d: Monique M.Cribbs,5347 North 47'1'Avenue,Omaha,NE 68104 IN WITNESS WHEREOF,Trustor has executed this Deed of Trust on the date first above written. By: LP/1 i bw l i" l • �'C��✓Y Monique M. ibbs,a single person , (CORPORATE SEAL) STATE OF NEBRASKA ) )§ COUNTY OF DOUGLAS ) On this 21st day of July, 2006, before me, the undersigned, a Notary Public duly commissioned and qualified in and for said county, personally came Monique M. Cribbs, a single person, to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that she executed the same as her voluntary act and deed for the purposes therein stated. Witness my hand and notarial seal the day and year last above written. , i My commission expires ��v • Notary Public ii GENERAL NOTARY-State of Nebraska KELLYJ.MUNDT arch 28,2008 • Page 6 of 6 Revised I/31/06 rcising any such power, pay necessary expenses,employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary. IT IS MUTUALLY AGREED THAT: 9. Litigation: Trustor shall defend this Trust in any action or proceeding purporting to affect such property, whether or not it affects the security hereof, or purporting to affect the rights or powers of Beneficiary or Trustee, and shall file and prosecute all necessary claims and actions to prevent or recover for any damage to or destruction of such property,and either Trustee or Beneficiary is hereby authorized,without obligation so to do, to commence, appear in or defend any such action, whether brought by or against Trustor, Beneficiary or Trustee, or with or without suit,to exercise or enforce any other right,remedy or power available or conferred hereunder,whether or not judgments be entered in any action or proceeding; and Trustor or Beneficiary may appear or intervene in any action or proceeding,and retain counsel therein; and take such action therein, as either may be advised and may settle, compromise or pay the same or any other claims and, in the behalf and for any of said purposes, may expend and advance such sums of money as either may deem necessary. Whether or not Trustor so appears or defends,Trustor on demand shall pay all costs and expenses of Beneficiary and Trustee, including costs of evidence of title and attomey's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by virtue of being made a party defendant or otherwise and irrespective of whether the interest of Beneficiary or Trustee in such property is directly questioned by such action, including but not limited to any action for the condemnation or partition of such property. 10. Condemnation: All sums due, paid or payable to Trustor, or any successor in interest of Trustor, whether by way of judgment, settlement or otherwise,(a)for injury or damage to such property,or(b)in connection with any condemnation for public use or injury to such property or any part thereof, or(c) in connection with the transaction financed by the loan secured hereby, or (d) arising out of all causes of action, whether accruing before or after the date of this Deed of Trust, sounding in tort or contract, including causes of action for fraud or concealment of a material fact, together with the settlements, proceeds, awards and damages, direct and consequential, in connection therewith, are hereby absolutely and irrevocably assigned and shall be paid to Beneficiary. Beneficiary shall be entitled, at its option, to commence, intervene in, appear in and prosecute in its own name, any action or proceeding, or to make any compromise or settlement, in connection with any such taking or damage. Trustor agrees to execute such further assignments of any compensation, award, damages, rights of action and proceeds as Beneficiary may acquire. Page 3 of 6 Revised 1/31/06 1 C-25A CITY OF OMAHA LEGISLATIVE CHAMBER Omaha,Nebraska RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: WHEREAS, on October 26, 2004, a Redevelopment Agreement between the City of Omaha and Holy Name Housing Corporation was approved by City Council Resolution No. 1348 and executed by the Mayor of the City of Omaha to provide for the partial financing of home acquisition by eligible homebuyers under the HOME Investment Partnerships Program; and, WHEREAS, on July 21, 2006, Monique M. Cribbs (hereinafter referred to as "Borrower") executed a deferred payment loan Deed of Trust and Promissory Note in the amount of$25,000.00 to secure the financing of the acquisition of her property, located at 5347 North 47t" Avenue, such documents being recorded on July 21, 2006, with the Douglas County Register of Deeds as Instrument No. 2006082550; and, WHEREAS, the terms of the deferred payment loan provide for the depreciation of the loan balance by five percent (5%) each year for ten years from the date of the promissory note; and WHEREAS, the Borrower is no longer able to remain in her home due to out-of- state employment opportunities necessitating the sale the property to facilitate her relocation to another city; and, WHEREAS, the value of the property is insufficient to generate a sales price adequate to satisfy the first mortgage lien, the City's second lien, and reasonable closing costs; and, WHEREAS, the Borrower has made written request to the City that it reduce its secured interest in the property to facilitate its sale and to prevent the financial hardship of having to repay the City with funds in excess of the sale proceeds; and, WHEREAS, it is in the best interests of the citizens of the City of Omaha that the City agree to accept the net proceeds of the sale of the property as satisfaction of the debt secured by the above-referenced Deed of Trust and Promissory Note, net proceeds being defined as the amount of the sales price minus the balance of any liens superior to that of the City plus reasonable closing costs, provided the sales price is reasonable and acceptable to the Planning Director; and, By Councilmember Adopted City Clerk Approved Mayor ning unpaid. In the event that this Note should be reduced to judgment, such judgment shall bear interest thereon at the statutory rate,but not to exceed 9%per annum. IF suit is instituted by the City to recover this Note, the Undersigned agrees to pay all costs of such collection, including reasonable attorney's fees and court costs. THIS NOTE is secured by no less than a Second Deed of Trust subordinate to superior lien(s) in an aggregate amount that shall not exceed the lesser of$67,000.00, or the existing balance of said superior lien(s), plus eligible,reasonable closing costs,duly filed for record in Douglas County,Nebraska. DEMAND, protest and notice of demand and protest are hereby waived, and the Undersigned hereby waives, to the extent authorized by law, any and all homestead and other exemption rights which otherwise would apply to the debt evidenced by this Note. IN WITNESS WHEREOF, this Note has been duly executed by the Undersigned, as of the day and year above set forth. • L 1/`�'I Cal C • c J Monique M. Abbs, a single person Witness Witness Revised: 3/27/06 d: Monique M.Cribbs,5347 North 47'1'Avenue,Omaha,NE 68104 IN WITNESS WHEREOF,Trustor has executed this Deed of Trust on the date first above written. By: LP/1 i bw l i" l • �'C��✓Y Monique M. ibbs,a single person , (CORPORATE SEAL) STATE OF NEBRASKA ) )§ COUNTY OF DOUGLAS ) On this 21st day of July, 2006, before me, the undersigned, a Notary Public duly commissioned and qualified in and for said county, personally came Monique M. Cribbs, a single person, to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that she executed the same as her voluntary act and deed for the purposes therein stated. Witness my hand and notarial seal the day and year last above written. , i My commission expires ��v • Notary Public ii GENERAL NOTARY-State of Nebraska KELLYJ.MUNDT arch 28,2008 • Page 6 of 6 Revised I/31/06 rcising any such power, pay necessary expenses,employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary. IT IS MUTUALLY AGREED THAT: 9. Litigation: Trustor shall defend this Trust in any action or proceeding purporting to affect such property, whether or not it affects the security hereof, or purporting to affect the rights or powers of Beneficiary or Trustee, and shall file and prosecute all necessary claims and actions to prevent or recover for any damage to or destruction of such property,and either Trustee or Beneficiary is hereby authorized,without obligation so to do, to commence, appear in or defend any such action, whether brought by or against Trustor, Beneficiary or Trustee, or with or without suit,to exercise or enforce any other right,remedy or power available or conferred hereunder,whether or not judgments be entered in any action or proceeding; and Trustor or Beneficiary may appear or intervene in any action or proceeding,and retain counsel therein; and take such action therein, as either may be advised and may settle, compromise or pay the same or any other claims and, in the behalf and for any of said purposes, may expend and advance such sums of money as either may deem necessary. Whether or not Trustor so appears or defends,Trustor on demand shall pay all costs and expenses of Beneficiary and Trustee, including costs of evidence of title and attomey's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by virtue of being made a party defendant or otherwise and irrespective of whether the interest of Beneficiary or Trustee in such property is directly questioned by such action, including but not limited to any action for the condemnation or partition of such property. 10. Condemnation: All sums due, paid or payable to Trustor, or any successor in interest of Trustor, whether by way of judgment, settlement or otherwise,(a)for injury or damage to such property,or(b)in connection with any condemnation for public use or injury to such property or any part thereof, or(c) in connection with the transaction financed by the loan secured hereby, or (d) arising out of all causes of action, whether accruing before or after the date of this Deed of Trust, sounding in tort or contract, including causes of action for fraud or concealment of a material fact, together with the settlements, proceeds, awards and damages, direct and consequential, in connection therewith, are hereby absolutely and irrevocably assigned and shall be paid to Beneficiary. Beneficiary shall be entitled, at its option, to commence, intervene in, appear in and prosecute in its own name, any action or proceeding, or to make any compromise or settlement, in connection with any such taking or damage. Trustor agrees to execute such further assignments of any compensation, award, damages, rights of action and proceeds as Beneficiary may acquire. Page 3 of 6 Revised 1/31/06 C-25A CITY OF OMAHA LEGISLATIVE CHAMBER Omaha,Nebraska Page 2 WHEREAS, the repayment terms stated in this Resolution would only become effective upon the sale of the property. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: THAT, as recommended by the Mayor, in consideration of the extenuating circumstances regarding the employment situation of Monique M. Cribbs, the City agrees to accept the net proceeds of the sale of her property, located at 5347 North 47th Avenue, as satisfaction of the terms of the Deed of Trust and Promissory Note securing the City's interest in the property, net proceeds being defined as the amount of the sales price minus the balance of any liens superior to that of the City plus reasonable closing costs, provided the sales price is reasonable and acceptable to the Planning Director. Be it further resolved, the repayment terms authorized by this resolution will only be valid and occur upon the sale of the property. APPROVED AS TO FORM: rl SISTANT CITY ATTORNEY Date Plnlsf1326-res • • By Councilmember Adopted t�O 1 .0 2009 6 City Clerk ii/Wel Approved.. ... Mayor er city; and, WHEREAS, the value of the property is insufficient to generate a sales price adequate to satisfy the first mortgage lien, the City's second lien, and reasonable closing costs; and, WHEREAS, the Borrower has made written request to the City that it reduce its secured interest in the property to facilitate its sale and to prevent the financial hardship of having to repay the City with funds in excess of the sale proceeds; and, WHEREAS, it is in the best interests of the citizens of the City of Omaha that the City agree to accept the net proceeds of the sale of the property as satisfaction of the debt secured by the above-referenced Deed of Trust and Promissory Note, net proceeds being defined as the amount of the sales price minus the balance of any liens superior to that of the City plus reasonable closing costs, provided the sales price is reasonable and acceptable to the Planning Director; and, By Councilmember Adopted City Clerk Approved Mayor ning unpaid. In the event that this Note should be reduced to judgment, such judgment shall bear interest thereon at the statutory rate,but not to exceed 9%per annum. IF suit is instituted by the City to recover this Note, the Undersigned agrees to pay all costs of such collection, including reasonable attorney's fees and court costs. THIS NOTE is secured by no less than a Second Deed of Trust subordinate to superior lien(s) in an aggregate amount that shall not exceed the lesser of$67,000.00, or the existing balance of said superior lien(s), plus eligible,reasonable closing costs,duly filed for record in Douglas County,Nebraska. DEMAND, protest and notice of demand and protest are hereby waived, and the Undersigned hereby waives, to the extent authorized by law, any and all homestead and other exemption rights which otherwise would apply to the debt evidenced by this Note. IN WITNESS WHEREOF, this Note has been duly executed by the Undersigned, as of the day and year above set forth. • L 1/`�'I Cal C • c J Monique M. Abbs, a single person Witness Witness Revised: 3/27/06 d: Monique M.Cribbs,5347 North 47'1'Avenue,Omaha,NE 68104 IN WITNESS WHEREOF,Trustor has executed this Deed of Trust on the date first above written. By: LP/1 i bw l i" l • �'C��✓Y Monique M. ibbs,a single person , (CORPORATE SEAL) STATE OF NEBRASKA ) )§ COUNTY OF DOUGLAS ) On this 21st day of July, 2006, before me, the undersigned, a Notary Public duly commissioned and qualified in and for said county, personally came Monique M. Cribbs, a single person, to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that she executed the same as her voluntary act and deed for the purposes therein stated. Witness my hand and notarial seal the day and year last above written. , i My commission expires ��v • Notary Public ii GENERAL NOTARY-State of Nebraska KELLYJ.MUNDT arch 28,2008 • Page 6 of 6 Revised I/31/06 rcising any such power, pay necessary expenses,employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary. IT IS MUTUALLY AGREED THAT: 9. Litigation: Trustor shall defend this Trust in any action or proceeding purporting to affect such property, whether or not it affects the security hereof, or purporting to affect the rights or powers of Beneficiary or Trustee, and shall file and prosecute all necessary claims and actions to prevent or recover for any damage to or destruction of such property,and either Trustee or Beneficiary is hereby authorized,without obligation so to do, to commence, appear in or defend any such action, whether brought by or against Trustor, Beneficiary or Trustee, or with or without suit,to exercise or enforce any other right,remedy or power available or conferred hereunder,whether or not judgments be entered in any action or proceeding; and Trustor or Beneficiary may appear or intervene in any action or proceeding,and retain counsel therein; and take such action therein, as either may be advised and may settle, compromise or pay the same or any other claims and, in the behalf and for any of said purposes, may expend and advance such sums of money as either may deem necessary. Whether or not Trustor so appears or defends,Trustor on demand shall pay all costs and expenses of Beneficiary and Trustee, including costs of evidence of title and attomey's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by virtue of being made a party defendant or otherwise and irrespective of whether the interest of Beneficiary or Trustee in such property is directly questioned by such action, including but not limited to any action for the condemnation or partition of such property. 10. Condemnation: All sums due, paid or payable to Trustor, or any successor in interest of Trustor, whether by way of judgment, settlement or otherwise,(a)for injury or damage to such property,or(b)in connection with any condemnation for public use or injury to such property or any part thereof, or(c) in connection with the transaction financed by the loan secured hereby, or (d) arising out of all causes of action, whether accruing before or after the date of this Deed of Trust, sounding in tort or contract, including causes of action for fraud or concealment of a material fact, together with the settlements, proceeds, awards and damages, direct and consequential, in connection therewith, are hereby absolutely and irrevocably assigned and shall be paid to Beneficiary. Beneficiary shall be entitled, at its option, to commence, intervene in, appear in and prosecute in its own name, any action or proceeding, or to make any compromise or settlement, in connection with any such taking or damage. Trustor agrees to execute such further assignments of any compensation, award, damages, rights of action and proceeds as Beneficiary may acquire. Page 3 of 6 Revised 1/31/06 !(-- 7/1. H \am. < • I. Q in aO Q..Cco C bs co • co 9 w O ya O � o oou i w cn F.' c " pwa o C . Uo ir.= 'C �'w M� � Zo cA � ; o o » 0 A) o CD Uc () Cil p * X aO v co. Ap CD CD ti co '� T 0 ' .+W co cn ,+ CD C „ w '. p '. 6 aZt. 1 I C. n V [ I :i} iIStH • Page 13 • « k` CDCD n CD Z -! `