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201601108
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Last modified
5/17/2016 12:56:36 PM
Creation date
2/24/2016 3:47:43 PM
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DEEDS
Inst Number
201601108
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11. Any extensions or modifications of the loan granted by Lender to any successor in <br />interest of Trustor shall not operate to release the liability of the original Trustor or Trustor's <br />successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be <br />a waiver of or preclude the exercise of any right or remedy. <br />12. Any notice to Trustor provided for in this Deed of Trust shall be given by <br />delivering it or mailing it by First -Class Mail, unless Nebraska Law requires use of another <br />method, at the Trustor's last -known address. <br />13. This Deed of Trust shall be governed by Nebraska Law. <br />201601108 <br />14. Lender shall give notice to Trustor following Trustor's breach of any covenant or <br />agreement in this Deed of Trust and the Debt that it secures. The notice shall specify (a) the <br />default, (b) the action required to cure the default, (c) a date not less than ten (10) days from the <br />date the notice is given to Trustor by which the default must be cured, and (d) that failure to cure <br />the default on or before the date specified in the notice may result in acceleration of the sum <br />secured by this Deed of Trust and sale of the Property pursuant to the power of sale herein <br />granted. The notice shall further inform Trustor of the right to reinstate after acceleration and the <br />right to bring a court action to assert the nonexistence of a default or any other defense of Trustor <br />to acceleration and sale. <br />If default is not cured on or before the date specified in the notice, Lender, at their option, <br />may require immediate payment in full of all sums secured by this Deed of Trust without further <br />demand and may invoke the power of sale and any other remedies permitted by Nebraska Law. <br />Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this <br />paragraph or otherwise taken to protect their interest in collateral described in this Deed of Trust <br />or enforce any provisions hereof, including but not limited to reasonable attorney fees and costs <br />of title evidence. <br />15. If the power of sale is invoked, Trustee shall record a notice of default in each <br />county in which any part of the Property is located and shall mail copies of such notice in the <br />manner prescribed by Nebraska law. Trustee, without demand on Trustor, shall sell the Property, <br />at public auction to the highest bidder at the time and place and under the terms designated in the <br />notice of sale, in one or more parcels and in any order Trustee determines. Trustee may <br />postpone sale of all or any parcel of the Property by public announcement at the time and place <br />of any previously- scheduled sale. Lender or its designee may purchase the Property at any sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser a <br />Trustee's Deed conveying the Property. Trustee shall apply the proceeds of sale in the following <br />order: (a) to all expenses of the sale, including but not limited to Trustee's fees as permitted by <br />Nebraska law and reasonable attorney fees; (b) to all sums secured by this Deed of Trust; and (c) <br />any excess to the person or persons legally entitled to it. <br />16. As additional security for the Debt, Trustor shall cause Makers to assign all rents, <br />issues and profits of the Property to Lender. Upon acceleration under paragraph 14 or <br />abandonment of the Property, Lender (in person, by agent, or by judicially- appointed receiver) <br />shall be entitled to enter upon, take possession of, and manage the Property and to collect the <br />rents of the Property, including those past due. Any rents collected by Lender or the receiver <br />shall be applied first to payment of the costs of management of the Property and collection of <br />rents, including but not limited to receiver's fees, premiums on receiver's bonds, and reasonable <br />attorney fees, and then to the sums secured by this Deed of Trust. <br />17. Upon payment of all sums as herein provided, Lender shall direct Trustee to <br />reconvey the Property and shall surrender this Deed of Trust and the Debt secured hereby. <br />Trustee shall reconvey the Property without warranty and without charge to the persons legally <br />entitled to it. <br />18. Lender, at its option, may from time to time remove Trustee and appoint a <br />successor Trustee by an instrument recorded in the county in which this Deed of Trust is <br />recorded. Without conveyance of the property, the successor Trustee shall succeed to all the <br />title, power, and duties conferred upon Trustee herein and by Nebraska Law. <br />3 <br />
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