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200206032
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200206032
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Last modified
10/14/2011 11:42:59 PM
Creation date
10/22/2005 8:47:35 PM
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DEEDS
Inst Number
200206032
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200206032 <br />10. This Deed of Trust and the Note which it secures shall be governed by <br />Nebraska law. <br />11. Lender shall give notice to Borrower following Borrower's breach of any <br />covenant or agreement in this Deed of Trust and the Note which it secures. The notice shall <br />specify (a) the default, (b) the action required to cure the default, (c) a date not less than thirty <br />(30) days from the date the notice is given to Borrower by which the default must be cured, <br />and (d) that failure to cure the default on or before the date specified in the notice may result <br />in acceleration of the sum secured by this Deed of Trust and resale of the property. The <br />notice shall further inform Borrower of the right to reinstate, after acceleration, and the right <br />to bring a court action to assert the nonexistence of a default or any other defense of Borrower <br />to acceleration and sale. If default is not cured on or before the date specified in the notice, <br />Lender, at its option, may require immediate payment in full of all sums secured by this Deed <br />of 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 for in this paragraph, including but not limited to reasonable <br />attorney fees and costs of title evidence. <br />12. If the power of sale is invoked, the Trustee shall record a notice of default in <br />each 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 shall give public notice of sale to the persons <br />and in the manner 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 place under the terms <br />designated in the notice of sale in one or more parcels and in any order Trustee determines. <br />Trustee may postpone sale of all or any part of the property by public announcement at the <br />time and place of any previously scheduled sale. Lender or its designee may purchase the <br />property at any sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to purchaser Trustee's <br />Deed conveying the property. The recitals in the Trustee's Deed shall be prima facie evidence <br />of the truth of the statements made therein. 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 fees as <br />permitted by Nebraska law and reasonable attorney fees; (b) to all sums secured by this Deed <br />of Trust; and (c) any excess to the person or persons legally entitled to it. <br />13. Upon acceleration under Paragraph 12 or abandonment of the property, Lender <br />(in person, by agent or by judicially appointed receiver) shall be entitled to enter upon, take <br />possession of and manage the property and to collect the rents of the property, including those <br />past due. Any rents collected by Lender or the receiver shall be applied first to payments of <br />the costs of management of the property and collection of rents including, but not limited to, <br />receiver's fees, premiums on receiver's bonds and reasonable attorney fees, and then to the <br />sums secured by this Deed of Trust. <br />14. Upon payment of all sums as herein provided, Lender shall direct Trustee to <br />reconvey the property and shall surrender this Deed of Trust and the Note secured by this <br />
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