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201302389
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Last modified
3/27/2013 4:30:05 PM
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3/27/2013 3:24:59 PM
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DEEDS
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201302389
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2 013 0 2 3 8 9 OMB Approval N o . 2 302 014) <br />ADDENDUM <br />(Nebraska) <br />HUD Project Number: 103 -11065 <br />Project Name: French Village Apartments <br />This Security Instrument shall be governed by and interpreted in accordance with <br />the Nebraska Trust Deeds Act, Nebraska Revised Statutes Article 76, Sections 76 -1001 <br />through 76 -1018, as amended, or any successor legislation. <br />The following language amends and supplements the Security Instrument in <br />order to conform to Nebraska law governing Deed of Trust transactions. <br />43. ACCELERATION: REMEDIES: The following language supplements and <br />is hereby incorporated by Section 43 of the Multifamily Deed of Trust, Security <br />Instrument, Assignment of Rents and Fixture Filing: <br />The power of sale conferred in the Nebraska Trust Deeds Act upon the trustee shall <br />not be exercised until: <br />(1) The trustee or the attorney for the trustee shall first file for record in the office <br />of the register of deeds of each county wherein the trust property or some part or parcel <br />thereof is situated a notice of default identifying the trust deed by stating the name of <br />the trustor named therein and giving the book and page or computer system reference <br />where the same is recorded and a description of the trust property, containing a <br />statement that a breach of an obligation for which the trust property was conveyed as <br />security has occurred, and setting forth the nature of such breach and of his or her <br />election to sell or cause to be sold such property to satisfy the obligation; <br />(2) After the lapse of not less than one month the trustee or the attorney for the <br />trustee shall give notice of sale as provided in section 76 -1007, or its successor <br />legislation. <br />(3) Borrower has the right to bring an action to assert the non - existence of an <br />Event of Default or any other defense of Borrower to acceleration and sale. Lender <br />shall be entitled to collect all costs and expenses incurred in pursuing such remedies, <br />including attorneys' fees, costs of documentary evidence, abstracts and title reports. <br />(4) Trustee may sell the Mortgaged Property at the time and place and under the <br />terms designated in the notice of sale in one or more parcels and in such order as <br />Trustee may determine. Trustee may postpone sale of all or any part of the Mortgaged <br />Property by public announcement at the time and place of any previously scheduled <br />sale. Lender or Lender's designee may purchase the Mortgaged Property at any sale. <br />(5) Trustee shall deliver to the purchaser at the sale, within a reasonable time <br />after the sale, a Trustee's deed conveying the Mortgaged Property so sold without any <br />HUD- 94000M -ADD <br />Security Instrument - Addendum <br />
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