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200102453
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Last modified
10/14/2011 1:51:35 AM
Creation date
10/20/2005 8:14:05 PM
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DEEDS
Inst Number
200102453
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200102453 <br />of sale hereunder be mailed to each such party at the address set forth herein, as provided by the <br />Nebraska Trust Deeds Act. <br />And in the event of the foreclosure of this Deed of Trust, Trustor covenants and agrees to pay the <br />cost of extending the abstract of title or obtaining a certificate of title from the date of recording this <br />Deed of Trust to the date of filing suit, and upon failure of said party to do so, all money so <br />advanced by Trustee shall bear interest at the rate of 16 percent per annum and shall be secured by <br />this indenture. In addition, Trustor agrees to pay a reasonable attorney's fee for the prosecution of a <br />foreclosure action, which shall be added to the principal balance at the time a foreclosure decree is <br />entered or shall be paid by the Trustor if Trustee agrees that the default may be cured after the <br />institution of a foreclosure suit. <br />And in the event Trustee sells the Property by exercise of power of sale, Trustee shall be entitled to <br />apply any sale proceeds first to payment of all costs and expenses of exercising power of sale, <br />including all Trustee's fees, and Lender's and Trustee's attorney's fees actually incurred to the extent <br />permitted by applicable law. In the event Borrower or Trustor exercises any right provided by law <br />to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs and expenses <br />actually incurred as a result of Trustor's default, including, without limitation, all Trustee's and <br />attorney's fees, to the extent permitted by applicable law. Such costs shall be added to the principal <br />sum due hereunder and draw interest at the default rate of 16 percent per annum. <br />The Trustee shall have the right to release with or without consideration or credit on the <br />indebtedness hereby secured, any part of the property herein described by adequate legal instrument <br />without regard to the existence of any junior encumbrance and without the consent of such junior <br />encumbrancer, and such release shall have no further effect upon the rank, lien or estate conveyed <br />hereby or against the Trustee than is therein expressed. <br />Beneficiary may at any time and from time to time appoint a successor Trustee by filing for record <br />in each county where the trust property or part thereof is located a notice of Substitution of Trustee. <br />In the event that the real property herein described, or any portion thereof or any interest therein be <br />sold, mortgaged or conveyed, or becomes subject to an agreement to sell, mortgage or convey, prior <br />to the time the indebtedness secured hereby shall have been paid in full, then the entire <br />indebtedness secured by this Trust Deed shall at the option of the Beneficiary become due and <br />payable. A sale, assignment or transfer in any manner whatsoever of 10% or more of the capital <br />stock of the trustor corporation shall be equivalent to a sale or conveyance of the security or an <br />interest therein, and in that event Beneficiary shall have the option to accelerate the debt, declare <br />the entire loan balance due, and enforce collection of same, including foreclosure of the mortgage <br />lien. <br />That if the property, or any part thereof, be condemned under any power of eminent domain, or <br />acquired for public use, the damages, proceeds, and the consideration for such acquisition, to the <br />extent of the full amount of indebtedness upon this Trust Deed and the Deed of Trust Note secured <br />hereby remaining unpaid are hereby assigned by Trustor to the holder of said Deed of Trust Note <br />and Trust Deed and shall be paid forthwith to said holder to be applied by it firstly to the payment <br />-5- <br />
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