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201202431
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Last modified
4/3/2012 3:04:26 PM
Creation date
3/29/2012 11:51:22 AM
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DEEDS
Inst Number
201202431
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201202431 <br /> 30. Assignment of leases and rents. Borrower agrees that the assignment of leases and rents in this instrument is immediately <br /> effective on the recording of this instrument. Upon defitult,the Borrower will receive any rents in trust for the Govermnent,and <br /> Borrower will not commingle the rents with any other funds, Any amounts collected shall be applied at the Government's discretion <br /> first to costs of managing,protecting and preserving the property,and to any other necessary related expenses. Any remaining <br /> amounts shall be applied to reduce the debt evidenced by the note(s). Borrower agrees that the Government may demand that <br /> Borrower and Borrower's tenants pay all rents due or to become due directly to the Government if the Borrower defaults and the <br /> Government notifies Borrower of die default. Upon such notice,Borrower will endorse and deliver to the Government any <br /> payments of rents. If the Borrower becomes subject to a bankruptcy,then Borrower agrees that the Government is entitled to <br /> receive relief from the automatic stay in bankruptcy for the purpose of enforcing this assignment. <br /> 31. Application of foreclosure proceeds. The proceeds of foreclosure sale shall be applied in the following order to the <br /> payment of: (a) costs and expenses incident to enforcing or complying with this instrument, (b) any prior liens required by law or a <br /> competent court to be so paid, (c) the debt evidenced by the note and all other debt to the Government secured by this instrument, <br /> (d) inferior liens of record required by law or a competent court to be so paid, (e) at the Government's option,any other debt of <br /> Borrower to the Government, and (0 any balance to Borrower. If the Government is the successful bidder at foreclosure or other <br /> sale of all or any part of die property,the Government may pay its share of the purchase price by crediting such amount on any <br /> debts of Borrower owing to the Govermnent in the order prescribed above, <br /> 32. Substitute trustee. The Government and its assigns,without notice and without specifying any reason therefore,may <br /> appoint a substitute trustee by filing for record in the office where this instrument; is recorded an instrument of appointment. The <br /> substitute trustee may or may not be an employee of the Government. Upon such filing, all the estates,rights,powers,and trusts <br /> granted to Trustee shall transfer to the substitute trustee. Any right to notice of substitution and bond from any trustee are hereby <br /> waived. <br /> 33. Future Advances. Upon request of Borrower, Government may,at its option,make additional and future advances to the <br /> Borrower. Such advances with interest thereon, shall be secured by this Trust Deed. <br /> 34. Request for Notice. The parties hereby request that a copy of any notice of default and a copy of any notice of sale be <br /> mailed to each party to this Trust Deed at the address set forth in the manner prescribed by applicable law. Except for any other <br /> notice required by law to be given in another manner,any notice provided for in this Trust Deed shall be given by mailing such <br /> notice by certified mail addressed to the parties, at the address set forth above. <br /> By signing below,Borrower accepts and agrees to the terms and covenants contained in this instrument and in any rider executed by <br /> Borrower and recorded with this instrument. <br /> Las . ri QAI'IA"ArZ., (Borrower) (Borrower) <br /> rJGre A L. Gewecke <br /> G <br /> AG .� (Borrower) (Borrower) <br /> Ashley Gewecke <br /> ACKNOWLEDGMENTS <br /> STATE OF NEBRASKA <br /> COUNTY OF Hall } ss, (Individual) <br /> On this 2,f7 4v‘ day of \in(a uk \10 I) before me personally appeared Jeremy L. Gewecke and <br /> Ashley Gewecke, husband and wife to be known to me to be the same whose name is subscribed to the <br /> foregoing instrument, and acknowledged that(he or she) signed and delivered the instrument as(his or her)free and voluntary act, <br /> for the uses and purposes set forth, <br /> mow..®uvmas��ow�. l <br /> My commission expires: GER6HAt NorArtYvtate of Hatuas&a <br /> Ali DAVID f'wait <br /> k!mrqrs, My Comm,eup,July 12,2014 ,-, <br /> 7-12-2014 .,.+ ameaa , ,ten... . <br /> David F. He�te <br /> NOTARY PUBLIC <br /> Note:Page 7 of 7 applies to entities only and will not be recortlec{for{n,divklnals, FSA 1927-1 NE(01-28-05)Page 6 of'7 <br />
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