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200201716
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Last modified
10/14/2011 5:06:51 PM
Creation date
10/21/2005 9:26:08 PM
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DEEDS
Inst Number
200201716
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200201716 <br />cure the default, (3) a date not less than 30 days from the date the notice <br />is given to Borrower by which the default must be cured, and (4) that <br />failure to cure the default on or before the date specified in the notice may <br />result in acceleration of the sum secured by this security agreement and <br />resale of the property. The notice shall further inform Borrower of the right <br />to reinstate, after acceleration, and the right to bring a court action to <br />assert the nonexistence of a default or any other defense of Borrower to <br />acceleration and sale. If default is not cured, on or before the date <br />specified in the notice, Lender, at its option, may require immediate <br />payment in full of all sums secured by this security agreement without <br />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 <br />expenses incurred in pursuing the remedies provided in this paragraph, <br />including but not limited to reasonable attorney fees and costs of title <br />evidence. <br />M. If the power of sale is invoked, Trustee shall record a notice of default in <br />each county in which any part of the property is located and shall mail <br />copies of such notice in the manner prescribed by Nebraska law. Trustee <br />shall give public notice of sale to the persons and in the manner <br />prescribed by Nebraska law. Trustee, without demand on Borrower, shall <br />sell the property at public auction to the highest bidder at the time and <br />place and under the terms designated in the notice of sale in one or more <br />parcels and in any order Trustee determines. Trustee may postpone sale <br />of all or any parcel of the property by public announcement at the time and <br />place of any previously scheduled sale. Lender or its designee may <br />purchase the property at any sale. <br />N. Upon receipt of payment of the price bid, Trustee shall deliver to the <br />purchaser Trustee's Deed conveying the property. The recitals in the <br />Trustee's Deed shall be prima facie evidence of the truth of the statements <br />made therein. Trustee shall apply the proceeds of said sale in the <br />following order: (1) to all expenses of the sale including, but not limited to, <br />Trustee's fees as permitted by Nebraska law and reasonable attorney <br />fees; (2) to all sums secured by this security agreement; and (3) any <br />excess to the person or persons legally entitled to it. <br />0. Upon the power of sale mentioned hereinabove or abandonment of the <br />property, Lender (in person, by agent or by judicially appointed receiver) <br />shall be entitled to enter upon, take possession of and manage the <br />property and to collect the rents of the property, including those past due. <br />Any rents collected by Lender or the receiver shall be applied first to <br />payment of the costs of management of the propertv and collection of <br />rents including, but not limited to, receiver's fees, premiums on receiver's <br />bonds and reasonable attorney fees, and then to the sums secured by this <br />security instrument. <br />P. Upon payment of all sums as herein provided, Lender shall direct Trustee <br />to reconvey the property and shall surrender this security instrument and <br />the note secured. Trustee shall reconvey the property without warranty <br />and without charge to the persons legally entitled to it. <br />Q. Lender, at its option, may from time to time remove Trustee and appoint a <br />successor Trustee by an instrument recorded in the county in which this <br />Hart & Dawson, P.C. <br />Cozad, Nebraska <br />3 <br />Sec. 6 Page 13 <br />
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