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201210155
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12/4/2012 4:00:34 PM
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12/4/2012 4:00:34 PM
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DEEDS
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201210155
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'201210155 <br />Borrower as trustee for benefit of Lender only, to be applied to the sums secured by this Security <br />Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) <br />each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on <br />Lender's written demand to the tenant. <br />Borrower has not executed any prior assignment of the rents and has not and will not perform any <br />act that would prevent Lender from exercising its rights under this Paragraph 19. <br />Lender shall not be required to enter upon, take control of or maintain the Property before or after <br />giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at <br />any time there is a breach. Any application of rents shall not cure or waive any default or invalidate <br />any other right or remedy of Lender. This assignment of rents of the Property shall terminate when <br />the debt secured by this Security Instrument is paid in full. <br />20. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 9, <br />Lender at its option may require immediate payment in full of all sums secured by this <br />Security Instrument without further demand and may invoke the power of sale and any other <br />remedies provided by applicable law. Lender shall be entitled to collect all expenses incurred <br />in pursuing the remedies provided in this Paragraph 20, including, but not limited to, <br />reasonable attorneys' fees and costs of title evidence. <br />If the power of sale is invoked, Trustee shall record a notice of default in each county in <br />which any part of the Property is located and shall mail copies of such notice in the manner <br />prescribed by Applicable Law to Borrower and to the other persons prescribed by Applicable <br />Law. After the time required by Applicable Law, Trustee shall give public notice of sale to the <br />persons and in the manner prescribed by Applicable Law. Trustee, without demand on <br />Borrower, shall sell the Property at public auction to the highest bidder at the time and place <br />and under the terms designated in the notice of sale in one or more parcels and in any order <br />Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public <br />announcement at the time and place of any previously scheduled sale. Lender or its <br />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 <br />deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence <br />of the truth of the statements made therein. Trustee shall apply the proceeds of the sale In <br />the following order: (a) to all costs and expenses of exercising the power of sale, and the <br />sale, including the payment of the Trustee's fees actually Incurred and reasonable attorneys' <br />fees as permitted by Applicable Law; (b) to all sums secured by this Security Instrument; and <br />(c) any excess to the person or persons legally entitled to it. <br />21. Lien Priority. The full amount secured by this Security Instrument shall have the same priority over <br />any other liens on the Property as if the full amount had been disbursed on the date the initial <br />disbursement was made, regardless of the actual date of any disbursement. The amount secured <br />by this Security Instrument shall include all direct payments by Lender to Borrower and all other loan <br />advances permitted by this Security Instrument for any purpose. This lien priority shall apply <br />notwithstanding any State constitution, law or regulation, except that this lien priority shall not affect <br />the priority of any liens for unpaid State or local governmental unit special assessments or taxes. <br />22. Adjustable Rate Feature. Under the Note, the initial stated interest rate of 2.834% which accrues <br />Nebraska Deed of Trust HECM ADJUSTABLE RATE - MERS <br />
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