Laserfiche WebLink
202500373 <br />(g) <br />Any reference in this Instrument to any person will be construed to include such <br />person's successors and assigns. <br />20. Subrogation. If, and to the extent that, the proceeds of the loan evidenced by the Note, or <br />subsequent advances under Section 7, are used to pay, satisfy or discharge a Prior Lien, <br />such loan proceeds or advances will be deemed to have been advanced by Lender at <br />Borrower's request, and Lender will automatically, and without further action on its part, <br />be subrogated to the rights, including Lien priority, of the owner or holder of the <br />obligation secured by the Prior Lien, whether or not the Prior Lien is released. <br />END OF UNIFORM COVENANTS; STATE -SPECIFIC PROVISIONS FOLLOW <br />21-30. Reserved. <br />31. Acceleration; Remedies. <br />(a) At any time during the existence of an Event of Default, Lender, at Lender's <br />option, may declare the Indebtedness to be immediately due and payable without <br />further demand, and may invoke the power of sale and any other remedies <br />permitted by applicable law or provided in this Instrument or in any other Loan <br />Document. Borrower acknowledges that the power of sale granted in this <br />Instrument may be exercised by Lender without prior judicial hearing. Borrower <br />has the right to bring an action to assert the non-existence of an Event of Default <br />or any other defense of Borrower to acceleration and sale. Lender will be entitled <br />to collect all costs and expenses incurred in pursuing such remedies, including <br />Attorneys' Fees and Costs, costs of documentary evidence, abstracts and title <br />reports. <br />(b) If the power of sale is invoked, Trustee will record a notice of default in each <br />county in which the Mortgaged Property is located and will mail copies of such <br />notice in the manner prescribed by applicable law to Borrower and to the other <br />persons prescribed by applicable law. Trustee will give notice of sale and Trustee <br />will sell the Mortgaged Property according to the laws of Nebraska. Trustee may <br />sell the Mortgaged Property at the time and place and under the terms designated <br />in the notice of sale in one or more parcels and in such order as Trustee may <br />determine. Trustee may postpone sale of all or any part of the Mortgaged Property <br />by public announcement at the time and place of any previously scheduled sale. <br />Lender or Lender's designee may purchase the Mortgaged Property at any sale. <br />(c) Trustee will deliver to the purchaser at the sale, within a reasonable time after the <br />sale, a Trustee's deed conveying the Mortgaged Property so sold without any <br />covenant or warranty, express or implied. The recitals in Trustee's deed will be <br />prima facie evidence of the truth of the statements made therein. Trustee will <br />apply the proceeds of the sale in the following order: (i) to all costs and expenses <br />of the sale, including Trustee's fees, actually incurred, of not more than 5% of the <br />gross sale price, Attorneys' Fees and Costs and costs of title evidence; (ii) to the <br />Nebraska <br />Multifamily Deed of Trust, Assignment of Rents <br />and Security Agreement <br />Page 19 <br />