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202105455
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Last modified
6/28/2021 4:18:47 PM
Creation date
6/28/2021 4:10:16 PM
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DEEDS
Inst Number
202105455
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202105455 <br />5. Borrower shall keep the improvements on said premises insured against loss by fire and <br />hazards included within the term "extended coverage", for their insurable value and policies for <br />the same shall include a standard mortgage clause showing Lender herein. In event of loss, <br />Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be <br />applied to restoration or repair of the property damaged, unless both parties otherwise agree, <br />except if restoration or repair is not economically feasible or Lender's security is not lessened, <br />otherwise said proceeds shall be paid on the debt herein, whether or not then due. <br />Unless Lender and Borrower otherwise agree in writing, any payments or proceeds from <br />insurance shall not extend or postpone the due date of the monthly payments provided in said <br />Note, or change the amount of the payments. <br />6. If Borrower fails to perform the covenants and agreements herein contained, Lender may do <br />and pay for whatever is necessary to protect the value of the property and Lender's rights in the <br />property, including the paying of any sum secured by a lien which has priority over this security <br />instrument, appearing in Court, paying reasonable attorney fees and entering the property to <br />make repairs. Any amount disbursed by Lender under this paragraph shall become an additional <br />debt of Borrower secured by this security instrument, to bear interest from the date of <br />disbursement and said amount, together with the then unpaid principal amount, shall bear interest <br />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 <br />shall be applied to the sums secured by this security instrument, whether or not then due, with <br />any excess paid to Borrower. <br />8. Any extensions or modifications of the loan granted by Lender to any successor in Interest of <br />Borrower shall not operate to release the liability of the original Borrower or Borrowers, <br />successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be <br />a waiver of or preclude the exercise of any right or remedy. <br />9. Any notice to Borrower provided for in this security instrument shall be given by delivering it <br />or may mailing it by first class mail unless Nebraska law requires use of another method, at the <br />Borrowers' last 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 <br />agreement in this security agreement and the Note which it secures. The notice shall specify (a) <br />the default, (b) the action required to cure the default, (c) a date not less than thirty (30) days <br />from the date the notice is given to Borrower by which the default must be cured, and (d) that <br />failure to cure the default on or before the date specified in the notice may result in acceleration <br />of the sum secured by this security agreement and resale of the property. The notice shall further <br />inform Borrower of the right to reinstate, after acceleration, and the right to bring a Court action <br />to assert the nonexistence of a default or any other defense of Borrower to acceleration and sale. <br />If default is not cured, on or before the date specified in the notice, Lender, at its option, may <br />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 <br />law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided <br />in this paragraph, including, but not limited to, reasonable attorney fees and costs of title <br />evidence. <br />12. If the power of sale is invoked, Trustee shall record a notice of default in each county in <br />which any part of the property is located and shall mail copies of such notice in the manner <br />prescribed by Nebraska law. Trustee shall give public notice of sale to the persons and in the <br />manner prescribed by Nebraska law. Trustee, without demand on Borrower, shall sell the <br />property at public auction to the highest bidder at the time and place and under the terms <br />designated in the notice of sale in one (1) or more parcels and in any order Trustee determines. <br />Trustee may postpone sale of all or any parcel of the property by public announcement at the <br />time and place of any previously scheduled sale. Lender or its designee may purchase the <br />property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to the <br />purchaser Trustee's Deed conveying the property. The recitals in the Trustee's Deed shall be <br />prima facie evidence of the truth of the statements made therein. Trustee shall apply the <br />
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