NE Lender Payoff/Satisfaction Notification

LENDER PAYOFF/SATISFACTION NOTIFICATION

This notification is given pursuant to the Nebraska Security Instrument Satisfaction Act by the below-named closing agent with regard to the payoff and release or satisfaction of the lien of a security instrument in which you are named the secured creditor.

a. The closing agent is ________________________.  The mailing address of the closing agent is ___________________________________________.

b. The security instrument that is the subject of this notification was entered into on ___________ by ___________________mortgagor, trustor(s); to ___________________, as trustee, and _______________, as beneficiary, or _________________,as mortgagee, recorded on ____________ in Book _____, page(s) _____, or as Inst. No. __________ of the mortgage records of ____________ County, Nebraska, against the following-described real estate:

c. The closing agent has reasonable grounds to believe that:

1. i. The real property described in the security instrument is residential real property;
   ii. The person to whom this notification is being given is the secured creditor; and
   iii. Full payment or performance of the secured obligation has been made in accordance with a payoff statement furnished by the secured creditor prior to or contemporaneous with the giving of this notification.

d. The closing agent has authority, pursuant to a designation of authority if the closing agent is a title insurance agent, to execute and record a certificate of satisfaction of the security interest unless within sixty days after notification:

1. i. The secured  creditor records a deed of reconveyance or a release or satisfaction of the security interest;
   ii. The closing agent is notified by the secured creditor that the secured obligation remains unsatisfied; or
   iii. The closing agent receives from the secured creditor a notification that the secured creditor has assigned the security interest and identifying the name and address of the assignee.

e. This notification shall constitute a written request for a deed of reconveyance of a trust deed or release or satisfaction of a mortgage pursuant to sections 76-252 and 76-1014.01.  These statutes provide for liability on the part of a mortgagee or beneficiary who fails to deliver such deed of reconveyance or release or satisfaction of a mortgagee within sixty days following such written request.  Liability shall be five thousand dollars or actual damages resulting from such failure, whichever is greater, together with court costs to include reasonable attorney’s fees.

Dated:________________________ 

___________________________________
Closing Agent

BY:  _______________________________