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200609624
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200609624
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Last modified
10/30/2006 8:12:01 AM
Creation date
10/30/2006 8:11:59 AM
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DEEDS
Inst Number
200609624
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<br />. ' <br /> <br />200609624 <br /> <br />24. ACCELERATION: PREPAYMENT PRIVILEGE. Upon any default by Borrower and <br />following the acceleration of maturity as herein provided, a tender of payment of the amount necessary to <br />satisfy the entire or any portion of indebtedness secured hereby, including the late payment fee and <br />interest accrued at the default rate set forth in the Note, made at any time prior to foreclosure sale <br />(including sale under power of sale) by the Borrower, its successors or permitted assigns or by anyone on <br />behalf of Borrower, its successors or permitted assigns, shall constitute an evasion of the prepayment <br />terms of said Note and be deemed to be a voluntary prepayment thereunder and any such payment, to the <br />extent permitted by law, will, therefore, include the additional payment required under the prepayment <br />privilege, if any, contained in said Note. <br /> <br />25. BORROWER'S RIGHT TO REINSTATE. Notwithstanding Lender's acceleration of the <br />sums secured by this Security Instrument, Borrower shall have the right to have any proceedings begun <br />by Lender to enforce this Security Instrument discontinued at any time prior to the earlier to occur of (i) <br />the fifth day before the sale of the Property pursuant to the power of sale contained in this Security <br />Instrument, or (ii) entry of a judgment enforcing this Security Instrument if: (a) Borrower pays Lender <br />all sums which would be then due under this Security Instrument and the Note, had no acceleration <br />occurred, including the late payment fee and Interest accrued at the default rate set forth in the Note; (b) <br />Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Security <br />Instrument; (c) Borrower pays all expenses actually incurred by Lender and Trustee in enforcing the <br />covenants and agreements of Borrower contained in this Security Instrument and in enforcing Lender's <br />and Trustee's remedies as provided in Paragraph 23 hereof, including, but not limited to, attorneys' fees; <br />and (d) Borrower takes such other action as Lender may reasonably require to assure that the lien of this <br />Security Instrument, Lender's interest in the Property, and Borrower's obligation to pay the sums secured <br />by this Security Instrument shall continue unimpaired. Upon such payment and cure by Borrower, this <br />Security Instrument and the obligations secured hereby shall remain in full force and effect as if no <br />acceleration had occurred. <br /> <br />26. ASSIGNMENT OF RENTS: APPOINTMENT OF RECEIVER: LENDER IN <br />POSSESSION. As additional security hereunder, Borrower hereby assigns to Lender the rents of the <br />Property pursuant to the Assignment of Leases and Rents dated of even date herewith by Borrower in <br />favor of Lender, provided that Borrower shall, prior to acceleration under Paragraph 23 hereof or <br />abandonment of the Property, have the right to collect and retain such rents as they become due and <br />payable. <br /> <br />27. SECURITY AGREEMENT AND FINANCING STATEMENT UNDER UNIFORM <br />COMMERCIAL CODE. This Security Instrument encumbers, and Borrower hereby grants Lender a <br />security interest in, Borrower's interest in all personal property of any kind whatsoever, whether tangible <br />or intangible, whether or not any such personal property is now or becomes a "fixture", which is used or <br />will be used in construction of, or is or will be placed upon or is derived from or used in any connection <br />with the use, occupancy or enjoyment of the Property. Such personal property ("Collateral") shall <br />include those items as shown on the attached Exhibit "B". <br /> <br />"Fixtures" shall include all articles of personal property, furniture and furnishings which are so <br />related to the Property such that an interest arises in them under the real estate laws of the State of <br />Nebraska. To the extent of the existence of Collateral encumbered by this Security Instrument, this <br />Security Instrument shall constitute a security agreement and when filed with the Nebraska Secretary of <br />State and in the real property records of the county where the Property is situated is intended to create a <br />perfected security interest in such Collateral in favor of Lender and to constitute a "fixture filing" in <br />accordance with the provisions of Nebraska Uniform Commercial Code. This Security Instrument shall <br />be self-operative with respect to such Collateral, but Borrower agrees to execute and deliver on demand <br />such security agreements, financing statements and other instruments as Lender may request in order to <br />impose the lien hereof more specifically upon any such Collateral and to pay the recording and/or filing <br />fees associated therewith. For purpose of treating this Security Instrument as a security agreement and <br />financing statement, Lender shall be deemed to be the Secured Party and Borrower shall be deemed to be <br />the Debtor. <br /> <br />28. RECONVEYANCE. Upon payment of all sums secured by this Security Instrument, <br />Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all <br />Notes evidencing indebtedness secured by this Security Instrument to Trustee. Trustee shall reconvey <br />the Property without warranty and without charge to the person or persons legally entitled thereto. Such <br />person or persons shall pay all costs ofrecordation, if any. <br /> <br />29. SUBSTITUTE TRUSTEE. Lender, at Lender's option, may from time to time by an <br />instrument recorded in the Register of Deeds' office of the County in which this Security Instrument is <br />recorded and otherwise in accordance with the provisions of Neb. Rev. Stat. ~ 76-1004 remove Trustee <br />and appoint a successor trustee to any Trustee appointed hereunder. Without conveyance of the <br /> <br />10 <br />
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