|
• . . ,,
<br /> 98'� 1�r3494
<br /> The Power of Sale conferred upon the Trustee shall not be exercised until the Trustee shall first file for record, in
<br /> the Office of the Re�ister of Deeds of each county wherein the trust property or some part or parcel thereof is situated,
<br /> a Notice of Default, identifying the Trust Deed by stating the names of the Trustor named therein and giving the Book and
<br /> Page where the same is recorded, a description of the trust property, and containing a statement that a breach of an
<br /> obligation for which the trust property was conveyed as security has occurred, and setting forth the nature of such breach
<br /> and his election to sell or cause to be sold such property to satisfy the obligation; and after the lapse of not less than one
<br /> month,the Trustee shall give aotice of sale as provided by Nebraska law. ,
<br /> After Nodce of Default and lapse of not less than one month, the Trustee shall �ve written notice of the time and
<br /> place of sale particularly destxibiug the Property to be sold by publication of such aotice, at least five times, once a week
<br /> for five consecutive weeks, the last publication to be at least 10 days but not more than 30 days prior to the sale, in some
<br /> newspaper having general circulation in each county in which the property to be sold, or some part thereof, is situated.
<br /> Upon such sale, the Trustee shall execute and deliver a deed of conveyance of the property sold to the purchaser
<br /> or purchasers thereof and any statement or recital of fact in such deed in relation to the exercise of the Power of Sale and
<br /> sale of the property described herein, including recitals concerning any mailing, personal delivery and publication and
<br /> posting of notice of such sale, and the conduct of sale, shall constitute prima facie evidence of such compliance and
<br /> conclusive evidence thereof in favor of bona fide �urchasers and encumbrancers for value and without notice. The Trustee's
<br /> deed shall operate to convey to the Purchaser, v�nthout right of redemption, the Trustee's title and all right, title and claim
<br /> of Trustor and his successors m interest subsequent to the execution of the Trust Deed. The Trustee shall ap�ly the proceeds
<br /> of the Trustee's sale, FIRST, to the cost and expenses of exercising the Power of Sale, and of the sale, includmg the payment
<br /> of the Trustee's fees actually incurred, which fees shall include a reasonable attorneys fee, not to exceed $350.00; SECOND,
<br /> to the payment of the obligations secured by the Trust Deed; THIRD, to the payment of junior trust deeds, mortgages or
<br /> other lienholders,and the balance,if any,to the person or persons legally entitled thereto.
<br /> And the Trustee covenants faithfully to perform the trust herein created. Trustee shall have no obligations uader
<br /> this Trust Deed other than those expressly provided for herein.
<br /> BENEFICIARY may from time to time substitute a successor or successors to any Trustee named herein or acting
<br /> hereunder to execute the Power of Sale under this Trust Deed. Upon such appointment and without conveyance to the
<br /> successor, the latter shall be vested with all tide, powers, and duties confened upon any trustee herein named or acting
<br /> hereunder. Each such substitution and appointment shall be made in accordance with the laws of the State of Nebraska
<br /> applicable thereto.
<br /> The waiver by the Trustee or Beneficiary of any default of Trustor under this Trust Deed shall not be deemed to
<br /> be a waiver of any other or similar defaults subsequently occurring.
<br /> This Trust Deed shall be construed according to the laws of the State of Nebraska.
<br /> This Trust Deed shall inure to and bind the heus, legatees, devisees, administrators, executors and assigns of the
<br /> parties hereto.
<br /> The parties hereto request that a copy of any notice of default or notice of sale hereunder shall be mailed to the
<br /> Trustor at , GRAND ISLAND, Nebraska 68803 and to the Beneficiary at 2511 LAKEWOOD DRIVE, GRAND ISLAND,
<br /> NE 68801, by certified mail, unless either party shall be advised, in writing, of any change in address.
<br /> Wherever the context so requires, singular words shall be construed in the plural and vice versa, and the masculine
<br /> gender shall be construed to include the feminine and vice versa.
<br /> WITNESS OUR HANDS this 14th day of Apri1,1998.
<br /> JOHNSON AND JOHNSON,INC.
<br /> by �
<br /> ( or r te
<br /> STATE OF NEBRASKA
<br /> COUNTY OF HALL
<br /> The foreg oin mstrument was acknowled ed before me this 14th day of April, 1998 by JOHNSON AND JOHNSON, INC.
<br /> BI'JAY B.J�NSON,PRESIDENT on �alf of the corporation.
<br /> GENERAL NOTARY State ol Nebra�43
<br /> � II! MARGARET M.DILION
<br /> , '.�,,,,�^�� My Comm.Exp.lolY 2,Z000
<br /> NOTICE
<br /> When this Trust Deed has been paid in full, the Beneficiary, in order to release the lien, must:
<br /> 1. Mark the original Promissory Note and Trust Deed 'Paid In Full' over the signatures of all beneficiaries and date
<br /> all signatures.
<br /> 2. Advise the Trustee, in writing, that all amounts secured have been paid in full and authorize the Trustee to issue
<br /> a Deed of Reconveyance.
<br /> 3. Mail the orig�'nal Promissory Note, Trust Deed and written authorization to the Trustee at the address indicated
<br /> on the first page of this'Trust Deed.
<br /> Pursuant to Nebraska law, the 1Yustee cannot and will not issue a Deed of Reconveyance unless and until the
<br /> foregoing items 1.,2.,and 3.have been compiled with.
<br /> Paga 2 Form Soflwara by AuWmated Raal EstaM Systems,Ine. 1-800-330-1295 88-5588/a8-5588
<br />
|