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200011176
<br />of real estate or by Chapter 9 of the UCC relating to the sale of collateral after default by a debtor
<br />(as such laws now exist or may be hereafter amended or succeeded), or by any other present or
<br />subsequent articles or enactments relating to same. With respect to any notices required or
<br />permitted under the UCC, Borrower agrees that ten business days' prior written notice shall be
<br />deemed commercially reasonable. At any such sale (i) whether made under the power herein
<br />contained, the UCC, any other legal requirement or by virtue of any judicial proceedings or any
<br />other legal right, remedy or recourse, it shall not be necessary for Trustee to be physically
<br />present at, or to have constructive possession of, the Property (Borrower shall deliver to Trustee
<br />any portion of the Property not actually or constructively possessed by Trustee immediately upon
<br />demand by Trustee), and the title to and right of possession of any such property shall pass to the
<br />purchaser thereof as completely as if Trustee had been actually present and delivered to
<br />purchaser at such sale, (ii) each instrument of conveyance executed by Trustee shall contain a
<br />general warranty of title, binding upon Borrower, (iii) each recital contained in any instrument of
<br />conveyance made by Trustee shall conclusively establish the truth and accuracy of the matters
<br />recited therein, including without limitation nonpayment of the Indebtedness, advertisement and
<br />conduct of such sale in the manner provided herein and otherwise by law, and appointment of
<br />any successor Trustee hereunder, (iv) any prerequisites to the validity of such sale shall be
<br />conclusively presumed to have been performed, (v) the receipt of Trustee or other party making
<br />the sale shall be a sufficient discharge to the purchaser or purchasers for his or their purchase
<br />money and no such purchaser or purchasers, or his or their assigns or personal representatives,
<br />shall thereafter be obligated to see to the application of such purchase money or be in any way
<br />answerable for any loss, misapplication or nonapplication thereof and (vi) to the fullest extent
<br />permitted by law, Borrower shall be completely and irrevocably divested of all of its right, title,
<br />interest, claim, equity, equity of redemption, and demand whatsoever, either at law or in equity,
<br />in and to the property sold and such sale shall be a perpetual bar both at law and in equity against
<br />Borrower, and against all other persons claiming or to claim the property sold or any part thereof,
<br />by, through or under Borrower. Lender may be a purchaser at such sale and if Lender is the
<br />highest bidder, may credit the portion of the purchase price that would be distributed to Lender
<br />against the Indebtedness in lieu of paying cash.
<br />(b) If at the time of the sale the said Trustee, or the one acting, shall deem it
<br />best for any reason to postpone or continue said sale for one or more days, they or he may do so,
<br />in which event notice of such postponement or continuance shall be made in such manner as the
<br />Trustee, or the one acting, may deem sufficient under the laws of the State of Nebraska.
<br />(c) At any such public sale, Trustee may execute and deliver to the purchaser
<br />a conveyance of the Property or any part of the Property in fee simple with special warranty and,
<br />to this end, Borrower hereby constitutes and appoints Trustee the agent and attorney -in -fact of
<br />Borrower to make such sale and conveyance, and thereby to divest Borrower of all right, title or
<br />equity that Borrower may have in and to the Property and to vest the same in the purchaser or
<br />purchasers at such sale or sales. Said appointment is coupled with an interest and shall be
<br />irrevocable.
<br />(d) Upon any public sale pursuant to the aforementioned power of sale and
<br />agency, the proceeds of said sale shall be applied as provided by law. In the event that such
<br />proceeds are insufficient to pay all costs and expenses of sale, Lender may advance such sums as
<br />it in its sole and absolute discretion shall determine for the purpose of paying all or any part of
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<br />01- 288814.04
<br />Grand Island, NE
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