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200203199
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Last modified
10/14/2011 7:01:00 PM
Creation date
10/22/2005 5:17:34 PM
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DEEDS
Inst Number
200203199
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200203199 <br />said indebtedness, insured against loss by fire, lightning and windstorm, in such company or companies and for such <br />amounts as the holder of said Deed of Trust Note may from time to time direct, not to exceed the amount of said <br />indebtedness, except at the option of Trustor, with loss, if any, payable to the Beneficiary hereunder as its interest may <br />appear, and will deliver the policy or policies of insurance, accompanied by premium receipts to the Beneficiary <br />hereunder, as further security for the indebtedness aforesaid. And in case of the refusal or neglect of Trustor to thus <br />insure and deliver such policies of insurance or to pay such taxes or assessments, then the holder of said Deed of Trust <br />Note may procure such insurance, or pay such taxes or assessments, and all moneys thus paid, with interest thereon at <br />16.000 percent per annum, shall become so much additional indebtedness, secured by this Deed of Trust, and shall be paid <br />out of the proceeds of the sale of the lands and premises aforesaid, if not otherwise paid by said Trustor. <br />Each party to this Trust Deed requests that a copy of any notice of default and a copy of any notice of sale hereunder be <br />mailed to each such party at the address set forth herein, as provided by the Nebraska Trust Deeds Act. <br />And in the event of the foreclosure of this Deed of Trust, Trustor covenants and agrees to pay the cost of extending the <br />abstract of title or obtaining a certificate of title from the date of recording this Deed of Trust to the date of filing suit, and <br />upon failure of said party to do so, all money so advanced by Trustee shall bear interest at the rate of 16.000 percent per <br />annum and shall be secured by this indenture. In addition, Trustor agrees to pay a reasonable attorney's fee for the <br />prosecution of a foreclosure action, which shall be added to the principal balance at the time a foreclosure decree is <br />entered or shall be paid by the Trustor if Trustee agrees that the default may be cured after the institution of a foreclosure <br />suit. <br />And in the event Trustee sells the Property by exercise of power of sale, Trustee shall be entitled to apply any sale <br />proceeds first to payment of all costs and expenses of exercising power of sale, including all Trustee's fees, and Lender's <br />and Trustee's attorney's fees actually incurred to the extent permitted by applicable law. In the event Borrower or Trustor <br />exercises any right provided by law to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs <br />and expenses actually incurred as a result of Trustor's default, including, without limitation, all Trustee's and attorney's <br />fees, to the extent permitted by applicable law. Such costs shall be added to the principal sum due hereunder and draw <br />interest at the default rate of 16.000 percent per annum. <br />The Trustee shall have the right to release with or without consideration or credit on the indebtedness hereby secured, any <br />part of the property herein described by adequate legal instrument without regard to the existence of any junior <br />encumbrance and without the consent of such junior encumbrancer, and such release shall have no further effect upon the <br />rank, lien or estate conveyed hereby or against the Trustee than is therein expressed. <br />Beneficiary may at any time and from time to time appoint a successor Trustee by filing for record in each county where <br />the trust property or part thereof is located a notice of Substitution of Trustee. <br />We also agree that in the event the mortgaged premises, or any portion thereof, or any interest therein, are sold, <br />mortgaged or conveyed or become subject to an agreement to sell, mortgage or convey prior to the time this loan shall <br />have been paid in full, then the entire indebtedness shall become immediately due and payable at the option of the <br />beneficiary. A sale, assignment or transfer in any manner whatsoever of 10% or more of the capital stock of the grantor <br />corporation shall be equivalent to a sale or conveyance of the security or an interest therein, and in that event beneficiary <br />shall have the option to accelerate the debt, declare the entire loan balance due and enforce collection of same, including <br />foreclosure of the Deed of Trust lien. <br />2 <br />
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