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201606625
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Last modified
10/4/2016 3:56:43 PM
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10/4/2016 3:56:43 PM
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DEEDS
Inst Number
201606625
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2. This Deed of Trust is governed by the laws of the state where the Property is located. <br />3. The following notice is given by the Bank to Borrower: <br />CHI 67430504v4 <br />5 <br />201606625 <br />and any and every part thereof (in one or more parcels), in whole or in parcels, at public venue, to the <br />highest bidder, for cash, at the location designated in the notice of sale as required by law, first giving notice <br />of default and notice of such sale in the manner prescribed by applicable law; and upon such sale shall <br />execute and deliver a deed of conveyance of the property sold to the purchaser or purchasers thereof. Any <br />statement or recital of fact in such deed shall be prima facie evidence of the truth of such statement or <br />recital. The Trustee, or its successor, shall receive the proceeds of said sale out of which Trustee shall pay <br />(a) the costs and expenses of exercising the power of sale and of the sale, including lawful compensation to <br />the Trustee for its services as provided by statute, which shall be immediately due upon first publication of <br />sale as aforesaid; (b) to the Bank, its endorsees or assigns, upon the usual vouchers therefor, any money <br />required to be paid by Borrower under this Deed of Trust including, without limitation, money advanced for <br />ground rents, taxes, insurance, repairs, judgments upon statutory lien claims and any other advances <br />hereunder and interest thereon at the Default Rate as defined in the Loan Agreement, if any; (c) the amount <br />unpaid under the Loan Agreement, together with the interest accrued thereon at the Default Rate, if any, and <br />all charges provided for herein; (d) all the other amounts secured by this Deed of Trust and (e) the balance <br />of such proceeds, if any, shall be paid to the Person legally entitled thereto. The purchaser at any foreclosure <br />sale shall not be obliged to look to the application of the proceeds thereof. If the Bank, at its option, shall set <br />aside any declared acceleration of maturity under the Loan Agreement, the terms and provisions therein <br />stated and the covenants, terms and conditions in the Loan Agreement and this Deed of Trust shall revive <br />and continue with the same force and effect as if such acceleration had not occurred. <br />G. This Deed of Trust remains in effect until the Trustee conveys the Property upon Bank's request, to <br />Borrower, to a purchaser at a foreclosure sale, or to some other individual or entity legally entitled thereto in <br />accordance with applicable law. <br />1. Upon full and final payment and performance of all of Borrower's Obligations, Bank will <br />request that Trustee convey the Property to Borrower, to a purchaser at a foreclosure sale, or the <br />individual or entity entitled thereto, and release the Property from the lien of this Deed of Trust. <br />2. Upon such reconveyance, this Deed of Trust will be void. <br />H. State Specific Provisions. <br />1. In the event of any inconsistencies between the terms and provisions of this Deed of Trust and Section <br />H of the Deed of Trust, the terms and provision of Section H shall govern and control. <br />Unless you provide evidence of the insurance coverage required by your agreement with us, we may <br />purchase insurance at your expense to protect our interests in your collateral. This insurance may, but <br />need not, protect your interests. The coverage that we purchase may not pay any claim that you make or <br />any claim that is made against you in connection with the collateral. You may later cancel any insurance <br />purchased by us, but only after providing evidence that you have obtained insurance as required by our <br />agreement. If we purchase insurance for the collateral, you will be responsible for the costs of that <br />insurance, including the insurance premium, interest and any other charges we may impose in <br />connection with the placement of the insurance, until the effective date of the cancellation or expiration <br />of the insurance. The costs of the insurance may be added to your total outstanding balance or <br />obligation. The costs of the insurance may be more than the costs of insurance you may be able to <br />obtain on your own. <br />4. Bank gives Borrower the following notice: A CREDIT AGREEMENT MUST BE IN <br />WRITING TO BE ENFORCEABLE UNDER NEBRASKA LAW. TO PROTECT YOU <br />
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