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<br />88- 1-01~~t 0
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<br />ri~hts and benefits l.lCCTlIillg 10 the Borrower tinder any unci all nil and
<br />gas leases 011 said prcmisc..., with the ri~ht to rec(.'ivc and r{'ccipt lor
<br />the same and apply them to said indeh'.cdnC5S as well hefore as after
<br />default in the condition.' of Ihis instrument, and Ihc Lcndcr may dc.
<br />mand. sue for and recover any such paymenLli when due and payahle.
<br />but shall not be required so to do. This assignment is to terminate and
<br />become null and void upon release of this instrument.
<br />
<br />10, That the Borrowcr will kccp the huildings npnn said prcmiscs in
<br />good repair. and neither commit nor permit waste upon said land. nor
<br />surfer the said premises to be used for any unlawful purpnsl'.
<br />
<br />I I. That if the prcmises, or any part thercof, he cnndcmned under
<br />Ihe power of cminent domain. or acquircd for" puhlic use, the
<br />damages awarded. the proceeds for the taking of, or the consideration
<br />for such acquisition, to the extent of the full amount or indehtednp.'i..."i
<br />upon this instrument and the note which it is given lo !-l'cure remain-
<br />ing unpaid, arc hereby assigned hy the Borrower 10 the Lender, and
<br />shall be paid forthwith to said Lender to be applied hy thc lallcr on
<br />account of the ncxt maturing installments of such indebtcdness.
<br />
<br />12. The Borrower further agrees that should Ihis instrument and Ihe
<br />nnte secured herchy nnl be eligihle for insurance under Ihe Nalional
<br />/lousing Act within eight monlhs From the date hereof (wrillen state,
<br />ment of any officer of the Department of Housiog and Urban
<br />Development or authorizcd agent of Ihe Secrelary of Housing and Ur-
<br />ban Developmcnt dated sub,equent to the ei!(ht monlhs' time from Ihe
<br />date of this instrument, declining to insure said note and this morl,
<br />gage, heing deemed conclusive proof of such incligibility), the Lendcr
<br />or holder of the note may, al its option, declare all sums secured
<br />hercby immediately due and payable, Notwithstanding Ihe forcgoing,
<br />this option may not be exercised by Ihe Lender or the holder of the
<br />note when the ineligibility for insurance under the National Housing
<br />Act is due to the Lendcr's failure to remit the mortgage insurance
<br />premium to the Department of Housing and Urhan De,'c1opmenl.
<br />
<br />13. That if the Borrower fails to make any payments of money when
<br />the same become due, or rails to cf'nform to and cornpl~' with any of
<br />the conditions or agreements contained in this instrument. or the note
<br />which it Sct.'IUCS. then lhe entire principal sum and accllrcd interest
<br />shall at once bewme due and payable. at the election of the Lender.
<br />
<br />Lender shall give notice to Borrower prior 10 aceeleration following
<br />Borrower's breach of any rovenant or agreement in this instrument
<br />(but oot prior tn acceleration under paragraph 12 unles.< applicable
<br />law provides otherwise). The notice shall specify: (a) thc default; (b)
<br />thc action required to cure the default; (c) a datc, not less than 30
<br />day; From the date the notice is given to Borrower, by which thc
<br />default must be cured; and (d) that failure to curc the default on or
<br />before the date specified io the nolice may resnlt in accelcration of the
<br />sums sccured by this instrument and sale of the Property. The notice
<br />shall further inform Borrower of the right to reinstatl' aftcr accelera-
<br />tion and thc right to bring a court action to asserl the non-existcnce of
<br />a default or any olher defense of Borrower to accelcration and sale, If
<br />the default is nol cured on or hefore the date specified in the notice,
<br />Lender at its oplion may requirc immcdiate payment in full of all
<br />sums secured by this inslrument without Further demand and may in-
<br />voke thc powcr of sale and any other remedies pcrmitted by ap-
<br />plicable law, Lender shall be cntilled to collect all cxpcnses incurred
<br />in pursuing the remedies provided in this paragr..ph 13, including. but
<br />not limited to, reasonable attorncy's fees and cosl, of title evidence,
<br />
<br />H II\(' power of saIl' i."i invoked, Trustee shall T(lcord a notice of
<br />ddault in each county in which any part of the Property is located
<br />and shall mail eupic-IIi of such notice in the manner pre!'C"ribcd by ap-
<br />plicable law tu Borrower and to the other person!' prescrihcd by ap-
<br />plicahle law, Aftcr thc time required by applicable law, Trustee shall
<br />g.ive public notice of sale to the persons and in the manner prescribed
<br />hy applicahle law. Trustee, without dcmand on Borrower, shall sell
<br />the Property at public auction to the highest bidder at the time and
<br />place and under the terms designatcd in the nolicc of sale in one or
<br />more parcels and in any order Trustee determines. Tru!'tec may
<br />postpooe salc of all or any parcel of the Property by public announce-
<br />menl al the lime and placc of any prcviously schcduled salc, Lender
<br />or its dc.,ignee may purchase the Property at any sale,
<br />
<br />Upoo receipl of payment of Ihc price hid, Trustee shall deliver to
<br />Ihe pllrchascr Truslec's dced conveying the Property. The recitals in
<br />Ihe Trustee's deed shall he prima facie e,'idcnce of Ihe truth of thc
<br />statcnwnts made therein. Trustee shall apply thc procecds of the sale
<br />io the following order: (a) to all expcnses of thc sale_ including but
<br />oot limited to. Truslec's fees as pcrmitted by applicahlc law and
<br />rcasonable attorneys' fees; (b) to all sums secured by this Security In-
<br /><lrllIlll'nt; aud (c) any escc.<-' to Ihe person or person.' legally entitled
<br />to il.
<br />
<br />14, Upon acceleration uoder paragraph 13 or abaodonmcot of the
<br />Properly, Lcnder (in person, by agent or by judicially appointed
<br />recei,-cr) shall be entitled to enter upon, take possession of and
<br />manage the Propcrty and to collect the rcnts of tile Property including
<br />those past due. An}' rents collected by Lender or the receiver shal! be
<br />applied first to pavment of the costs of management of thc Property
<br />and collcclion of renl" including, but not limited to, receivcr's fees,
<br />premiums on rcceivcr's bonds and rcasonable attorneys' fces, and then
<br />to thc sums securcd by this instrumenl.
<br />
<br />15. Upon payment of all sums ~ccured hy this instrument, Lcndcr
<br />shall request Trustee to reconvey thc Property and shall surrpnder this
<br />instrument and all notes cvidcncing dcbt sceurcd hy this instrumcnt to
<br />Trustce, Trustee shall reconveny the Propcrty withont warranty and
<br />without charge to the pcrson or persons legally entitled 10 il. Such
<br />person or pcrson..IIi shall PQY any rccoi"dation costs.
<br />
<br />16. Lender, at its option, may from time to timc remove Trustee
<br />and appoint a successor trustee to any Trustee appointed hercunder by
<br />an instrument recorded in the county in which this instrumcnt is
<br />recordcd, Wilhout convcyance of the Property, the suec,'_<-<or truslee
<br />shall sueceed to all the title, power and duties confcrred upon Truslee
<br />hcrein and by applicable law,
<br />
<br />17. Borrower requests that copies of thc I;oliccs of ,h'faull and sale
<br />be sent to Borrower's address which is the Property Addre...
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<br />Ill. If one or morc riders are executed hy Borrower and lecorlh,d
<br />togethcr with this instrument, the covenants and agreenll'nls nf each
<br />such rider shall bc incorporated into and shall alIlend IInd supplemcnt
<br />the covcnants and agreements of this instrumcnt as if the rider(s) were
<br />a part of this instrument.
<br />
<br />19. The co"enants hcrcin contained shall bind, and the henefits and
<br />advantages shall inure to, the respective heirs, cxecutors, ad.
<br />ministrators, successors, and assigns of the parties hcreto. Whcnc\'cr
<br />used, the singular number shallincludc the plural, thc plural thc
<br />singular, and the use of any gender shall inelude all genders,
<br />
<br />By signing below, Borrower accepts and agrees to the terms covcnants contained i 'Seeurity Instrument and in any rider(s) cxecuted by
<br />Borrower and recorded with it. ~ ...... ~'~ "",
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<br />Statc of Nebraska,
<br />
<br />County of
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<br />Hall
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<br />[Seal)
<br />Borrowrr
<br />
<br />~hael D, F2i --4'
<br />'1iLLLI ...}i,Cp. iL_.L ~I~
<br />Katherina LynnJFrei
<br />
<br />[Seal)
<br />8orro1A"et
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<br />The foregoing instrument was acknowk-dged hefore mc this 10th day 01 Narch
<br />19 88 ,by Nichael D. Frei and Katherina T.ynn Frei, Husband and IE fe
<br />
<br />Witness In)' hand and notarial seal at /.~ r., /7
<br />~. . . /1'-, f f:::Y';;: (,,'~ r'"
<br />
<br />My COl1ll1lis..,hm l'Xpir('~'
<br />
<br />-...u.. . '"
<br />'J;"CEMEMt"MIARY-SlilJ of 1Jebt:s
<br />OENISE KAY LOWRY
<br />M~ Co/llm [,P Aug 25. 1991
<br />
<br />in said County. Ill(> date nfore.~aid.
<br />
<br />,.' ....--('.
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<br />^' (. t l$.J>-
<br />
<br />otary Puhlic
<br />
<br />poga 3 01 4
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<br />HU092143DT
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