|
51668048.5
<br />15
<br />201508
<br />and examinations, title insurance policies, and similar data and assurance with respect to
<br />title as Lender may deem reasonably necessary either to prosecute such suit or to
<br />evidence to bidders at sales which may be had pursuant to such decree the true conditions
<br />of the title to or the value of the Mortgaged Property. All expenditures and expenses of
<br />the nature mentioned in this paragraph, and such other expenses and fees as may be
<br />incurred in the protection of the Mortgaged Property and Rents and income therefrom
<br />and the maintenance of the lien of this Mortgage, including the reasonable fees of any
<br />attorney employed by Lender in any litigation or proceedings affecting this Mortgage, the
<br />Note or the Mortgaged Property, including bankruptcy proceedings, or in preparation of
<br />the commencement or defense of any proceedings or threatened suit or proceeding, or
<br />otherwise in dealing specifically therewith, shall be so much additional Debt and shall be
<br />immediately due and payable by Borrower, with interest thereon at the Default Rate until
<br />paid.
<br />Trustee shall, after receiving notice of the election and demand for sale from the Lender,
<br />proceed to sell the Mortgaged Property as one parcel in its entirety or any part thereof, either in
<br />mass or in parcels, at the absolute discretion of the Trustee, at public venue at the door of the
<br />Court House, or other location then customarily employed for the purpose, in the County where
<br />the Mortgaged Property is located, to the highest bidder for cash, first making or causing to be
<br />made or given such demands or notices of the time, terms, and place of sale, and a description of
<br />the property to be sold, by advertisement published and as is provided by the laws of the State of
<br />Nebraska then in effect, and upon sale, the Trustee shall (subject to any applicable statutory
<br />periods and rights of redemption) execute and deliver a deed of conveyance of the property sold
<br />to the purchaser or purchasers thereof, and any statement or recital of fact in such deed, in
<br />relation to the non - payment of the Debt, existence of the Debt, notice of advertisement, sale, and
<br />receipt of the proceeds of sale, shall be presumptive evidence of the truth of such statements or
<br />recitals, provided further that such recitals shall constitute conclusive evidence of compliance
<br />with the foregoing matters stated therein in favor of bona fide purchasers and encumbrancers for
<br />value in the following order: (1) the costs and expenses of exercising the power of sale and of
<br />the sale, including payment of Trustee's fees actually incurred not to exceed one percent (1 %) of
<br />the then principal balance of the indebtedness secured hereby, (2) the amount due on the
<br />indebtedness secured hereby then due and unpaid, including but not limited to all amounts paid
<br />by the Lender for insurance, taxes, and other payments made by Lender as provided herein, (3)
<br />the amount due on any junior encumbrances, with interest, and (4) the balance, if any remaining
<br />shall be paid to Borrower, all in accordance with Neb. Rev. Stat. §76 -1011 (Reissue 2009). The
<br />Lender may bid and become purchaser at any sale under this Mortgage. Any sale of the
<br />Mortgaged Property under this Mortgage shall, without further notice, create the relation of
<br />landlord and tenant at sufferance between the purchaser and Borrower or any person holding
<br />possession of the Mortgaged Property through Borrower, and upon failure of Borrower or such
<br />person to surrender possession thereof immediately, Borrower or such person may be removed
<br />by a writ of possession of the purchaser in any Court having venue.
<br />The power of sale hereunder shall not be exhausted by any one or more such sales (or
<br />attempts to sell) as to all or any portion of the Mortgaged Property remaining unsold, but shall
<br />continue unimpaired until all of the Mortgaged Property has been sold or the Note and the Loan
<br />secured by this Mortgage shall have been paid in full.
<br />
|