Laserfiche WebLink
201202432 <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 default, the Borrower will receive any rents in trust for the Government,and <br /> Borrower will not commingle die 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 the 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, (e) 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 (f)any balance to Borrower, If the Government is the successful bidder at foreclosure or other <br /> sale of all or any part of the property,die Government may pay its share of the purchase price by crediting such amount on any <br /> debts of Borrower owing to the Government 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 /> Bar ower and recorded with tins instrument. <br /> • _J d (Borrower) C'en�i2-2_.t � WF.f, J2. (Borrower) <br /> Gregor i. Gewecke, Trustee &eanine R. Gewecke, Trustee <br /> (Borrower) (Borrower) <br /> ACKNOWLEDGMENTS <br /> STATE OF NEBRASKA <br /> COUNTY OF Iia17. ss. (Individual) <br /> On this 425 day of ■ 1 a ,before me personally appeared Gregory D. Gewecke, Trustee <br /> and Jeanine R. Gewecke, Trustee to be known to me to be the same whose name is subscribed to the <br /> foregoing instrument,and acknowledged that(lie or she) signed and delivered the instrument as(his or her)free and voluntary act, <br /> for the uses and purposes set forth. <br /> My commission expires: GfNEIiHLNOTARY-State of Nebraska <br /> DAVID P.WELIE 11 <br /> 7-12-2019 '11 My Comm.Exp.July12,2014 <br /> w .,+ David P. We1Le <br /> NOTARY PUBLIC <br /> Note:Page 7 of 7 applies to entities only and will not be recorded for individuals. ESA 1927-1 NE(01-28-05)Page 6of7 <br />