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201302395
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Last modified
3/27/2013 4:41:58 PM
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3/27/2013 3:39:28 PM
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DEEDS
Inst Number
201302395
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201302395 <br />OMB Approval No. 2502 -0598 <br />(Exp. 04/30/2014) <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 />covenant or warranty, express or implied. The recitals in Trustee's deed shall be prima <br />facie evidence of the truth of the statements made therein. <br />(6) The trustee shall apply the proceeds of the trustee's sale, first, to the costs <br />and expenses of exercising the power of sale and of the sale, including the payment of the <br />trustee's fees actually incurred not to exceed the amount which may be provided for in the <br />trust deed, second, to payment of the obligation secured by the trust deed, third, to the <br />payment of junior trust deeds, mortgages, or other lien holders, and the balance, if any, to <br />the person or persons legally entitled thereto. <br />49. FUTURE ADVANCES: The following language supplements and is hereby incorporated <br />by Section 49 of the Multifamily Deed of Trust, Security Instrument, Assignment of Rents, and <br />Fixture Filing: Protection of Lender's Security: <br />(1) Pursuant to the Nebraska Trust Deeds Act transfers in trust of real property <br />may be made to secure (a) existing debts or obligations created simultaneously with the <br />execution of the trust deed, (b) future advances necessary to protect the security, (c) any <br />future advances to be made at the option of the parties, or (d) the performance of an <br />obligation of any other person named in the trust deed to a beneficiary. <br />(2) Future advances necessary to protect the security shall include, but not be <br />limited to, advances for payment of real property taxes, special assessments, prior liens, <br />hazard insurance premiums, maintenance charges imposed under a condominium <br />declaration or other covenant, and costs of repair, maintenance, or improvements. <br />(3) (a) Except as provided in subdivision (b) of this subsection, all items <br />identified in subsection (1) of this section are equally secured by the trust deed from <br />the time of filing the trust deed as provided by law and have the same priority as the <br />trust deed over the rights of all other persons who acquire any rights in or liens upon <br />the trust property subsequent to the time the trust deed was filed. <br />(b) (1) The trustor or his or her successor in title may limit the <br />amount of optional future advances secured by the trust deed under <br />subdivision (2) of this section by filing a notice for record in the office of the <br />register of deeds of each county in which the trust property or some part <br />thereof is situated. A copy of such notice shall be sent by certified mail to <br />the beneficiary at the address of the beneficiary set forth in the trust deed. <br />The amount of such secured optional future advances shall be limited to not <br />less than the amount actually advanced at the time of receipt of such notice <br />by the beneficiary. <br />(2) If any optional future advance is made by the beneficiary to <br />the trustor or his or her successor in title after receiving written notice of the <br />filing for record of any trust deed, mortgage, lien, or claim against such trust <br />property, then the amount of such optional future advance shall be junior to <br />such trust deed, mortgage, lien, or claim. The notice under this subdivision <br />FRENCH VILLAGE HUD- 94000M -ADD <br />Contingent Repayment Mortgage Security Instrument - Addendum <br />
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