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200200618
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200200618
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Last modified
10/14/2011 3:41:49 PM
Creation date
10/21/2005 9:13:54 PM
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DEEDS
Inst Number
200200618
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200200618 <br />8. If Borrower fails to perform the covenants and agreements herein contained, <br />Lender may do and pay for whatever is necessary to protect the value of the property and <br />Lender's rights in the Property, including the paying of any sum secured by a lien which <br />has priority over this Deed of Trust, appearing in Court, paying reasonable attorney fees <br />and entering the Property to make repairs. Any amount disbursed by Lender under this <br />paragraph shall become an additional debt of Borrower secured by this Deed of Trust, to <br />bear interest from the date of disbursement and said amount, together with the then <br />unpaid principal amount, shall bear interest at the highest lawful rate until refunded by <br />Borrower. <br />9. The proceeds of an condemnation award are hereby assigned and shall be paid <br />to Lender and shall be applied to the sums secured by this Deed of Trust, whether or not <br />then due, with any excess to be paid to Borrower. <br />10. Any extensions or modifications of the loan granted by Lender to any succes- <br />sor in interest of Borrower shall not operate to release the liability of the original Bor- <br />rower or Borrower's successors in interest. Any forbearance by Lender in exercising any <br />right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. <br />11. Any notice to Borrower provided for in this Deed of Trust shall be given by <br />delivering it or mailing it by first class mail, unless Nebraska Law requires use of another <br />method, at the Borrower's last known address. <br />12. This Deed of Trust shall be governed by Nebraska Law. <br />13. Lender shall give notice to Borrower following Borrower's breach of any <br />covenant or agreement in this Deed of Trust and the Debt that it secures. The notice shall <br />specify (a) the default, (b) the action required to cure the default, (c) a date not less than <br />ten (10) days from the date the notice is given to Borrower by which the default must be <br />cured, and (d) that failure to cure the default on or before the date specified in the notice <br />may result in acceleration of the sum secured by this Deed of Trust and sale of the <br />Property pursuant to the power of sale herein granted. The notice shall further inform <br />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 <br />and sale. If default is not cured, on or before the date specified in the notice, Lender, at <br />its option may require immediate payment in full of all sums secured by this Deed of <br />Trust without further demand and may invoke the power of sale and any other remedies <br />permitted by Nebraska Law. Lender shall be entitled to collect all expenses incurred in <br />pursuing the remedies provided in this paragraph or otherwise taken to protect its interest <br />in collateral described in this Deed of Trust or enforce any provisions hereof, including <br />but not limited to reasonable attorney fees and costs of title evidence. <br />14. If the power of sale is invoked, Trustee shall record a notice of default in each <br />county in which any part of the Property is located and shall mail copies of such notice in <br />the manner prescribed by Nebraska law. Trustee, without demand on Borrower, shall sell <br />the Property at public auction to the highest bidder at the time and place and under the <br />terms designated in the notice of sale in one or more parcels and in any order Trustee <br />determines. Trustee may postpone sale of all or any parcel of the Property by public <br />announcement at the time and place of any previously scheduled sale. Lender or its <br />designee may purchase the Property at any sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser <br />Trustee's Deed conveying the Property. Trustee shall apply the proceeds of sale in the <br />following order: (a) to all expenses of the sale including, but not limited to, Trustee's <br />fees as permitted by Nebraska law and reasonable attorney fees; (b) to all sums secured <br />by this Deed of Trust; and (c) any excess to the person or persons legally entitled to it. <br />15. As additional security for the Debt, Borrower hereby assigns all rents, issues <br />and profits of the Property to Lender. Upon acceleration under paragraph 13 or <br />abandonment of the Property, Lender (in person, by agent or by judicially appointed <br />receiver) shall be entitled to enter upon, take possession of and manage the Property and <br />to collect the rents of the Property, including those past due. Any rents collected by <br />
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