|
�8- iG44'72
<br /> � 'NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br /> 17. Acx�eleration;Remedies. Fxcept as provided in paragraph 16 hereof,upon Borrower's breach of any covenant
<br /> or agreement of Borrower in this Deed of Trust, including Borrower's failure to pay, by the end of 10 calendar days
<br /> after they are due, any sums secured by this Deed of Trust,Lender prior to acceleration shall give notice to Borrower
<br /> as provided in paragraph 12 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date,
<br /> not less than 20 days from the date the notice is mailed to Borrower,by which such breach must be cured; and(4) that
<br /> failure to cure such breach on or before the date specified in the notice may result in acceleration of the sums secured
<br /> by this Deed of Trust and sale of the Property. The notice shall further inform Borrower of the right to reinstate after
<br /> acceleration and the right to bring a wurt action to assert the nonexistence of a default or any other defense of
<br /> Borrower to acceleration and sale. If the breach is not cured on or before the date specified in the notice, Lender,
<br /> at Lender's option, may declare all of the sums secured by this Deed of Trust to be immediately due and payable
<br /> without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender
<br /> shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided in this
<br /> paragraph 1'7, including, but not limited to, reasonable attorneys' fees.
<br /> If the power of sale is invoked, Trustee shall record a notice of default in each county in which the Property or
<br /> some part thereof is located and shall mail copies of such notice in the manner prescribed by applicable law to
<br /> Borrower and to the other persons prescribed by applicable law. After the lapse of such time as may be required by
<br /> applicable law,Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law.
<br /> Trustee,without demand on Borrower,shall sell the Properry at public auction to the highest bidder at the time and
<br /> place and under the terms designated in the notice of sale in one or more parcels and in such order as Trustee may
<br /> determine. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and
<br /> place of any previously scheduled sale. Lender or Lender's designee may purchase the Property at any sale.
<br /> Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the
<br /> Property sold. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made
<br /> therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all reasonable costs and expenses
<br /> of the sale, including,but not limited to,Trustee's fees actually incurred of not more than 5.0 0 0 % of
<br /> the gross sale price,reasonable attorneys'fees and costs of title evidence; (b)to all sums secured by this Deed of Trust;
<br /> and (c) the excess, if any, to the person or persons legally entitled thereto.
<br /> 18. Bonower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Deed of
<br /> Trust, due to Bonower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce
<br /> this Deed of Trust discontinued at any time prior to the earlier to occur of(i)the fifth day before sale of the Property
<br /> pursuant to the power of sale contained in this Deed of Trust or (ii) entry of a judgment enforcing this Deed of Trust
<br /> if: (a) Bonower pays Lender all sums which would be then due under this Deed of Trust and the Note had no
<br /> acceleration occurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained
<br /> in this Deed of Trust; (c) Bonower pays all reasonable elcpenses incurred by Lender and Trustee in enforcing the
<br /> covenants and agreements of Bonower contained in this Deed of Trust and in enforcing Lender's and Trustee's
<br /> remedies as provided in paragraph 17 hereof,including,but not limited to,reasonable attorneys'fees;and(d)Bonower
<br /> takes such action as Lender may reasonably require to assure that the lien of this Deed of Trust, Lender's interest in
<br /> the Property and Borrower's obligation to pay the sums secured by this Deed of Trust shall wntinue unimpaired.
<br /> Upon such payment and cure by Borrower, this Deed of Trust and the obligations secured hereby shall remain in full
<br /> force and effect as if no acceleration had occurred.
<br /> 19. Assignment of Rents; Appointment of Receiver, Lender in Pos.�ession As additional security hereunder,
<br /> Borrower hereby assigns to Lender the rents of the Property,provided that Borrower shall,prior to acceleration under
<br /> paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become
<br /> due and payable.
<br /> Upon acceleration under paragraph 17 hereof or abandonment of the Property,Lender,in person,by agent or by
<br /> judicially appointed receiver shall be entitled to enter upon,take possession of and manage the Property and to collect
<br /> the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied first
<br /> to payment of the costs of management of the Property and collection of rents,including,but not limited to,receiver's
<br /> fees,premiums on receiver's bonds and reasonable attorneys'fees,and then to the sums secured by this Deed of Trust.
<br /> Lender and the receiver shall be liable to account only for those rents actually received.
<br /> 20. Reoonveyance. Upon payment of all sums secured by this Deed of Trust, Lender shall request Trustee to
<br /> reconvey the Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this
<br /> Deed of Trust to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or
<br /> persons legally entitled thereto. Such person or persons shall pay all costs of recordation, if any.
<br /> 21. Substitute Trustee. Lender,at Lender's option,may from time to time remove Trustee and appoint a successor
<br /> trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Deed of Trust is
<br /> recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties
<br /> conferred upon the Trustee herein and by applicable law.
<br /> 22 Request for Notices. Borrower requests that copies of the notice of default and notice of sale be sent to
<br /> Borrower's address which is the Property Address.
<br /> REQUEST FOR NOTICE OF DEFAULT
<br /> AND FORECLOSURE UNDER SUPERIOR
<br /> MORTGAGES OR DEEDS OF TRUST
<br /> Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance with a lien which
<br /> has priority over this Deed of Trust to give Notice to Lender,at Lender's address set forth on page one of this Deed
<br /> of Trust, of any default under the superior encumbrance and of any sale or other foreclosure action.
<br /> NEBRASKA-SECOND MORTGAGE-1/80-FNM.A/FHLMC UNIFORM INSTRUMENT Form 3828
<br /> Document S}�stems,Ina(800)649-1362 Page 4 of 5
<br />
|