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200106256
<br />The Power of Sale conferred upon the Trustee shall not be exercised until the Trustee shall first file for record, in
<br />the Office of the Register of Deeds of each county wherein the trust property or some part or parcel thereof is situated,
<br />a Notice of Default, identifying the Trust Deed by stating the names of the Trustor named therein and giving the Book and
<br />Page where the same is recorded, a description of the trust property, and containing a statement that a breach of an
<br />obligation for which the trust property was conveyed as security has occurred, and setting forth the nature of such breach
<br />and his election to sell or cause to be sold such property to satisfy the obligation; and after the lapse of not less than one
<br />month, the Trustee shall give notice of sale as provided by Nebraska law.
<br />After Notice of Default and lapse of not less than one month, the Trustee shall give written notice of the time and
<br />place of sale particularly describing the Property to be sold by publication of such notice, at least five times, once a week
<br />for five consecutive weeks, the last publication to be at least 10 days but not more than 30 days prior to the sale, in some
<br />newspaper having general circulation in each county in which the property to be sold, or some part thereof, is situated.
<br />Upon such sale, the Trustee' shall execute and deliver a deed of conveyance of the property sold to the purchaser
<br />or purchasers thereof and any statement or recital of fact in such deed in relation to the exercise of the Power of Sale and
<br />sale of the property described herein, including recitals concerning any mailing, personal delivery and publication and
<br />posting of notice of such sale, and the conduct of sale, shall constitute prima facie evidence of such compliance and
<br />conclusive evidence thereof in favor of bona fide purchasers and encumbrancers for value and without notice. The Trustee's
<br />deed shall operate to convey to the Purchaser, without right of redemption, the Trustee's title and all right, title and claim
<br />of Trustor and his successors in interest subsequent to the execution of the Trust Deed. The Trustee shall apply the proceeds
<br />of the Trustee's sale, FIRST, to the cost and expenses of exercising the Power of Sale, and of the sale, including the payment
<br />of the Trustee's fees actually incurred, which fees shall include a reasonable attorneys fee, not to exceed $350.00; SECOND,
<br />to the payment of the obligations secured by the Trust Deed; THIRD, to the payment of junior trust deeds, mortgages or
<br />other lienholders, and the balance, if any, to the person or persons legally entitled thereto.
<br />And the Trustee covenants faithfully to perform the trust herein created. Trustee shall have no obligations under
<br />this Trust Deed other than those expressly provided for herein.
<br />BENEFICIARY may from time to time substitute a successor or successors to any Trustee named herein or acting
<br />hereunder to execute the Power of Sale under this Trust Deed. Upon such appointment and without conveyance to the
<br />successor, the latter shall be vested with all title, powers, and duties conferred upon any trustee herein named or acting
<br />hereunder. Each such substitution and appointment shall be made in accordance with the laws of the State of Nebraska
<br />applicable thereto.
<br />The waiver by the Trustee or Beneficiary of any default of Trustor under this Trust Deed shall not be deemed to
<br />be a waiver of any other or similar defaults subsequently occurring.
<br />This Trust Deed shall be construed according to the laws of the State of Nebraska.
<br />This Trust Deed shall inure to and bind the heirs, legatees, devisees, administrators, executors and assigns of the
<br />parties hereto.
<br />The parties hereto request that a copy of any notice of default or notice of sale hereunder shall be mailed to the
<br />Trustor at 2215 Macron Street, Grand Island, Nebraska 68803 and to the Beneficiary at 2511 Lakewood Drive, Grand
<br />Island NE 68801, by certified mail, unless either party shall be advised, in writing, of any change in address.
<br />Wherever the context so requires, singular words shall be construed in the plural and vice versa, and the masculine
<br />gender shall be construed to include the feminine and vice versa.
<br />WITNESS OUR HANDS this 27th day of June, 2001.
<br />STATE OF NEBRASKA
<br />COUNTY OF HALL
<br />mg instrument was acknowledged before me this 27th day of June, 2001 by Thomas H. Sutliff and Vickie D.
<br />h&td-aud Wife.
<br />BOOK NOTARY -Stab d Nebraska
<br />STEVE D. KUNZMM
<br />_ * Comm. r p. ladh 1. =
<br />NOTICE
<br />When this Trust Deed has been paid in full, the Beneficiary, in order to release the lien, must:
<br />1. Mark the original Promissory Note and Trust Deed 'Paid In Full' over the signatures of all beneficiaries and date
<br />all signatures.
<br />2. Advise the Trustee, in writing, that all amounts secured have been paid in full and authorize the Trustee to issue
<br />a Deed of Reconveyance.
<br />3. Mail the original ' Promissory Note, Trust Deed and written authorization to the Trustee at the address indicated
<br />on the first page of this Trust Deed.
<br />Pursuant to Nebraska law, the Trustee cannot and will not issue a Deed of Reconveyance unless and until the
<br />foregoing items 1., 2., and 3. have been compiled with.
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