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202103878
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Last modified
5/10/2021 11:50:25 AM
Creation date
5/10/2021 11:43:57 AM
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DEEDS
Inst Number
202103878
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202103878 <br />first apply to the expenses of such recovery including attorney fees, then at the option of <br />Beneficiary, to restoration of the security or payment of the indebtedness secured by <br />this Deed of Trust, then to Trustor. Trustor agrees to make such further assignments as <br />necessary to give this provision effect. <br />7. Additional Liens and Protection of Security and Subrogation. <br />7.1 Beneficiary in its sole discretion may make any payment, expend, <br />or advance any funds it deems necessary to protect the security of this Deed of Trust. <br />Such payment, expenditures, or advancements, with interest, shall become secured <br />hereby. <br />7.2 Beneficiary is subrogated to the claims and liens of all parties <br />whose claims and liens are discharged or paid with the proceeds of the indebtedness <br />secured hereby. Beneficiary is further subrogated to Trustor for all insurance proceeds, <br />claims, or damages to the security. <br />8. Default, Remedies, Acceleration, Sale. <br />8.1 If Trustor does not: (1) make payment according to the terms of <br />the Loan Agreement or any extensions, modifications, or renewals thereof; (2) make <br />payment of any other indebtedness secured by the Deed of Trust; (3) perform any of the <br />covenants of the Deed of Trust; or (4) if Beneficiary has to expend sums to protect the <br />security, then Trustor has breached this agreement, is in default, and Beneficiary may <br />declare default and may declare all sums secured hereby immediately due and payable <br />and such sums immediately become due and payable without presentment, demand, <br />protest, or notice of any kind except as may be provided in the Deed of Trust Note, and <br />may invoke the power of sale and/or any other remedies permitted by applicable law <br />including the right to foreclose this Deed of Trust in the manner provided by law for the <br />foreclosure of mortgages on real estate. Beneficiary shall be entitled to collect all <br />reasonable costs and expenses incurred in pursuing such remedies including, but not <br />limited to, reasonable attorney's fees. <br />a. If the power of sale is invoked, Trustee shall proceed to sell <br />the property complying with the Nebraska Trust Deeds Act in regard to notice, time, and <br />manner of sale. Trustee may sell the property in one or more parcels and in such order <br />as Trustee may designate, at public auction to the highest bidder, purchase price <br />payable in cash or as otherwise suitable to Trustee at the time of sale. Trustee may <br />postpone the sale from time to time. Trustee shall execute and deliver to the purchaser <br />a Trustee's Deed conveying the property sold, but without any covenant or warranty, <br />express or implied. The recitals in the deed of any matters or facts shall be conclusive <br />proof of the truthfulness thereof. Any person, including without limitation, Beneficiary or <br />Trustee, may purchase at the sale. <br />b. When Trustee sells pursuant to the powers herein, Trustee <br />shall apply the proceeds of the sale to the payment of the costs and expenses of <br />exercising the power of sale and of the sale, including, without limitation, the payment of <br />Trustee's fees incurred. Trustee's fees hereunder shall be deemed reasonable if they <br />are the greater of either the actual costs incurred by Trustee or five percent (5%) of the <br />balance of the original amount secured hereby. After the payment of Trustee's fees, if <br />the sale is by a Trustee, or the proper court and other costs of foreclosure and sale <br />Page 4 of 11 <br />
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