202600506 - Laserfiche WebLink

Browse

20260050(D (d) That failure to cure the default on or before the date specified in the notice may result in acceleration of the sum secured by this security agreement and resale of the property. The notice shall further inform BORROWERS of the right to reinstate, after acceleration, and the right to bring a Court action to assert the nonexistence of a default or any other defense of BORROWERS to acceleration and sale. If default is not cured, on or before the date specified in the notice, LENDER, at his option, may require immediately payment in full of all sums secured by this security agreement without further demand and may invoke the power of sale and any other remedies permitted by Nebraska law. LENDER shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph, including but not limited to reasonable attorney fees and costs of title evidence. 16. If the power of sale is invoked, TRUSTEE shall record a notice of default in each County in which any part of the property is located and shall mail copies of such notice in the manner prescribed by Nebraska law. The TRUSTEE shall give public notice of sale to the persons and in the manner prescribed by Nebraska law. The TRUSTEE, without demand on BORROWERS, shall sell the property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order TRUSTEE determines. The TRUSTEE may postpone sale of all or any parcel of the property by public announcement at the time and place of any previously scheduled sale. LENDER or his designee may purchase the property at any sale. Upon receipt of payment of the price bid, TRUSTEE shall deliver to the purchaser a Trustee's Deed conveying the property. The recitals in the Trustee's Deed shall be prima facie evidence of the truth of the statements made therein. The TRUSTEE shall apply the proceeds of sale in the following order: (a) To all expenses of the sale including, but not limited to, TRUSTEE's fees as permitted by Nebraska law and reasonable attorney fees; (b) To all sums secured by this security agreement; and; (c) Any excess to the person or persons legally entitled to it. 17. Upon acceleration under paragraph 16 or abandonment of the property, LENDER (in person, by agent or by judicially appointed receiver) shall be entitled to enter upon, take possession of and manage the property and to collect the rents of the property, including those past due, any rents collected by LENDER or the receiver shall be applied first to payment of the costs of management of the property and collection of rents including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney fees, and then to the sums secured by this security agreement. 18. Upon payment of all sums as herein provided, LENDER shall direct TRUSTEE to reconvey the property and shall surrender