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201606825
<br />4. If Lender determines that any part of the property is subject to a lien, which is or may attain priority over
<br />this security instrument, Lender may give Owner a notice identifying the lien and Owner shall satisfy the
<br />lien within ten (10) days.
<br />5. Owner shall keep the improvements on said premises insured against loss by fire and hazards included
<br />within the term "extended coverage ", for their insurable value and policies for the same shall include a
<br />standard mortgage clause showing Lender herein. In event of loss, Lender may make proof of loss if not
<br />promptly made by Owner. Insurance proceeds shall be applied to restoration or repair of the property
<br />damaged, unless both parties otherwise agree, except if restoration or repair is not economically feasible or
<br />Lender's security is not lessened, otherwise said proceeds shall be paid on the debt herein, whether or not
<br />then due.
<br />Unless Lender and Owner otherwise agree in writing, any payments or proceeds from insurance shall not
<br />extend or postpone the due date of the monthly payments provided in said Note, or change the amount of
<br />the payments.
<br />6. If Owner fails to perform the covenants and agreements herein contained, Lender may do and pay for
<br />whatever is necessary to protect the value of the property and Lender's rights in the property, including the
<br />paying of any sum secured by a lien which has priority over this security instrument, appearing in Court,
<br />paying reasonable attorney fees and entering the property to make repairs. Any amount disbursed by
<br />Lender under this paragraph shall become an additional debt of Borrower secured by this security
<br />instrument, to bear interest from the date of disbursement and said amount, together with the then unpaid
<br />principal amount, shall bear interest at the highest lawful rate until refunded by Borrower.
<br />7. The proceeds of any condemnation award are hereby assigned and shall be paid to Lender and shall be
<br />applied to the sums secured by this security instrument, whether or not then due, with any excess paid to
<br />Borrower.
<br />8. Any extensions or modifications of the loan granted by Lender to any successor in Interest of Borrower
<br />shall not operate to release the liability of the original Borrower or Borrowers, successors in interest. Any
<br />forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of
<br />any right or remedy.
<br />9. Any notice to Borrower provided for in this security instrument shall be given by delivering it or may
<br />mailing it by first class mail unless Nebraska law requires use of another method, at the Borrowers' last
<br />known address.
<br />10. This security instrument, and the Note which it secures, shall be governed by Nebraska law.
<br />11. Lender shall give notice to Borrower following Borrowers' breach of any covenant or agreement in this
<br />security agreement and the Note which it secures. The notice shall specify (a) the default, (b) the action
<br />required to cure the default, (c) a date not less than thirty (30) days from the date the notice is given to
<br />Borrower by which the default must be cured, and (d) that failure to cure the default on or before the date
<br />specified in the notice may result in acceleration of the sum secured by this security agreement and resale of
<br />the property. The notice shall further inform Borrower 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 Borrower to
<br />acceleration and sale. If default is not cured, on or before the date specified in the notice, Lender, at its
<br />option, may require immediate payment in full of all sums secured by this Security Agreement without
<br />further 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 paragraph,
<br />including, but not limited to, reasonable attorney fees and costs of title evidence.
<br />12. If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of
<br />the property is located and shall mail copies of such notice in the manner prescribed by Nebraska law.
<br />Trustee shall give public notice of sale to the persons and in the manner prescribed by Nebraska law.
<br />Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder at the
<br />time and place and under the terms designated in the notice of sale in one (1) or more parcels and in any
<br />order Trustee determines. Trustee may postpone sale of all or any parcel of the property by public
<br />announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase
<br />the property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's Deed conveying
<br />the property. The recitals in the Trustee's Deed shall be prima facie evidence of the truth of the statements
<br />made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the
<br />sale including, but not limited to, Trustee's fees as permitted by Nebraska law and reasonable attorney fees,
<br />(b) to all sums secured by this security agreement; and (c) any excess to the person or persons legally
<br />entitled to it.
<br />13. Upon acceleration under Paragraph 12 or abandonment of the property, Lender (in person, by agent or by
<br />judicially appointed receiver) shall be entitled to enter upon, take possession of and manage the property
<br />and to collect the rents of the property, including those past due. Any rents collected by Lender or the
<br />receiver shall be applied first to payment of the costs of management of the property and collection of rents
<br />including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney fees, and
<br />then to the sums secured by this security instrument.
<br />14. Upon payment of all sums as herein provided, Lender shall direct Trustee to reconvey the property and shall
<br />surrender this security instrument and the Note secured. Trustee shall reconvey the property without
<br />warranty and without charge to the persons legally entitled to it.
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