|
9 9 1121'8 3 ' � �' +' '� -
<br /> If Lender invokes the power of sale, Lender shall execute or cause Trustee to execute a written notice of the
<br /> occurrence of an event of default and of Lender's election to cause the Property to be sold. Trustee shall cause this notice to be
<br /> recorded in each county in which any part of the Property is located. Lender or Trustee shall mail copies of the notice as
<br /> prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. Trustee shall give public
<br /> notice of sale to the persons and in the manner prescribed by applicable law. After the time required by applicable law,
<br /> Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and
<br /> under the terms designated in the notice of sale in one or more pazcels and in any order Trustee determines. Trustee may
<br /> postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled
<br /> sale. Lender or its designee may purchase the Property at any sale.
<br /> Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty,
<br /> expressed or implied. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made
<br /> therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not
<br /> limited to, reasonable Trustee's fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or
<br /> persons legally entitled to it.
<br /> 19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Security
<br /> Instrument due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce this
<br /> Security Instrument discontinued at any time prior to sale of the Property or entry of a judgment enforcing this Security
<br /> Instrument if: (a)Bonower pays Lender all sums which would be then due under this Security Instrument and the Note had no
<br /> acceleration occuned; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this
<br /> Security Instrument; and (c) Borrower pays all trustee's fees actually incuned, not exceeding the greater of$50.00 or one-half
<br /> of one percent of the unpaid principal sum secured, and court costs. Upon such payment and cure by Borrower, this Security
<br /> Instrument and the obligations secured hereby shall remain in full force and effect as if no acceleration had occurred. This
<br /> right to reinstate shall not apply, however, in the case of acceleration pursuant to Pazagraph 17.
<br /> 20. Assignment of Rents; Appointment of Receiver. As additional security hereunder, Borrower hereby assigns to
<br /> Lender the rents of the Property, provided that Borrower shall, prior to acceleration under Paragraph 18 hereof or
<br /> abandonment of the Property, have the right to collect and retain such rents as they become due and payable.
<br /> Upon acceleration under Paragraph 18 hereof or abandonment of the Property, Lender, in person, by agent or by
<br /> judicially appointed receiver, sha11 be entitled to enter upon, take possession of and manage the Property and to collect the
<br /> rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied first to payment of
<br /> the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on
<br /> receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Security Instrument. Lender and the
<br /> receiver shall be liable to account only for those rents actually received.
<br /> 21. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
<br /> Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the
<br /> Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or
<br /> storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate for normal
<br /> residential uses and for maintenance of the Property.
<br /> Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by
<br /> any govemmental or regulatory agency or private party involving the Property and any Hazardous Substance or
<br /> Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any govemmental or
<br /> regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary,
<br /> Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.
<br /> As used in this Pazagraph 21, "Hazazdous Substances" are those substances defined as toxic or hazardous substances
<br /> by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br /> pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used
<br /> in this Paragraph 21, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that
<br /> relate to health, safety or environmental protection.
<br /> 22. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to
<br /> reconvey the Property and sha11 surrender this Security Instrument and all notes evidencing debt secured by this Security
<br /> Instrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it.
<br /> Such person or persons shall pay Lender's reasonable charge for preparation of any payoff statement or other document in
<br /> connection with the reconveyance, any Trustee reconveyance fee and any costs of recordation, unless applicable law provide
<br /> otherwise. �
<br /> � �
<br /> NEBRASKA DEED OF TRUST cs�oiiOriginal - Record �
<br /> M003-6NE Page 6 of 7 0089034599
<br />
|