|
<br />NON.UNIFORM COVENANTS, Borrower Dnd Lender further cO\lcnanl and agree os fOIlOW~8- 10600 3:
<br />
<br />19. Acceleration; Remedies. Lender shall gin notice to Borrower prior to Acceleration following Borrower's
<br />breach or any conRant or agreement in tbis Security Instrument (but not prior to acceleration under paragraphs 13 and 17
<br />unless applicable law provides otherwise), The notice sball s;>>eclfy: (a) the default; (b) the action required to cure the
<br />default; (c) B date, not less than 30 days from the date the notice is gillen to Borrower, by which the default must be cured;
<br />and (d) that failure to cure the derault on or before the date specified in the notice mBY result In acceleration of the sums
<br />secured by this SecurllY Inslrument and sale of the Pruperly, The ootl.e shall furlher lofurm Borro"er of the right to
<br />reInstate after Bceeleration and the right to bring B court action to assert the non~exlstence of a default or any other
<br />defense of Borrower to acceleration and salr. It the default Is not cured on or before the date specified I... the notice, Lender
<br />at its option may require immediate payment In full of all sums secured by this Security Instrument without further
<br />demond and may Invoke the po"er of sale and any other remedies permitted by applicable law, Lender sball be entitled to
<br />collect all expenses incurred in punuing the remedies provided in tbis paragraph 191 including; but not limited to,
<br />reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the
<br />Property is located and mall mail copies .jt"such notice in the manner prescribed by applicable law to Borrower and to the
<br />other pt!r5ons prescribed by applicable law. After the time rei}uired by applicable law, Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on porrower, shall sell the
<br />Property at public auction to the highest bidder aC the time and place and under the terms designated in the notice of sale in
<br />one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by
<br />public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase tbe
<br />Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee sball deliver to the purchaser Trustee's deed conveying the
<br />Property, The recitals in the Trustee's deed shill be prima facie evidence of the truth of the statements made therein.
<br />Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including. but not limited
<br />to, Trustee's fees' as permitted by applicable law and reasonable attorneys' feesj (b) to all sums secured by this Security
<br />Instrument; and (c) any excess to the per50n or persons legally entitled to it,
<br />
<br />20. Lender in Possession. Upon acceleration under paragraph 1'9 or abandonment of the PropenYl Lender (in
<br />person, by agent or by judicially appointed receiver) shall be entilled to enter upon, take possession of and manage the
<br />Property and to collect the' rents of the Property including those past due, Any renls collected by Lender or the receh'er
<br />shall be applied first to payment. of the cosls of management of the Property and collection of rents, including, but not
<br />limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by
<br />this Security Instrument,
<br />
<br />21. Reconveyance. Upon payment of all sums secured by this Securit}' Instrument, Lender shall request Trustee to
<br />reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security
<br />Instrumenl to Trustee, Trustee shall reconvey the Property wi1hout warranty and wilhout charge to the person or persons
<br />legally entitled to it. Such person or persons shan pay any recordation costs,
<br />
<br />22, Substitute Trustee. Lender, at its option, may from time to lime remove Trustee and appoint a successor trustee
<br />to any Trustee appointed hereunder by an instrument recorded in lhe county in which this Security Inslrumenl is recorded,
<br />Without conveyance of the Property. the successor trustee shall succeed to all the title, power and duties conferred upon
<br />Trustee herein and by applicable law,
<br />
<br />23, Request for Notices, Borrower requests lhat copies of the notices of default and sale be sent lo Borrower's
<br />address which is the Property Addrc5s,
<br />
<br />24. Riders to this Security Instrument. If one or more riders are execuled by Borrower and recorded togelhcr with
<br />this Security Instrument, the covenants and agreements of each such rider shall be incorporated inlo and shall amend and
<br />supplement the covenants and agreements of lhis Security Instrument as if the rider(s) were a part of this Security
<br />Instrument. [Check applicable boxers)]
<br />
<br />o Adjustable Rate Rider 0 Condominium Rider 0 2-4 Family Rider
<br />
<br />o Graduated Payment Rider
<br />
<br />o Planned Unit Development Rider
<br />
<br />o Other(s) [specify]
<br />
<br />By SIGNING BELOW, Borrower accepls and agrees to lhe teons and covenants contained in this Security
<br />Instrument and in any rider(s) executed by Borrower and recorded with it.
<br />
<br />
<br />.......................m..............m......m.. '..}~~""'.'" . ...~!~~.!
<br />
<br />~.o.u..a.j""'~"-.Q\, ul....'"\L)j.. .....(SeaI)
<br />~~ann Phipps .----,,----- -Borrower
<br />
<br />STATE OF NEBRASKA,
<br />
<br />Hall Cou",y S',:
<br />
<br />On lhis 7th day of November ,19 88, before me, Ihe undersigned. a Nalary Public
<br />duly commissioned and qualHied for said county, personalty l:amc James Phipps and Louann Phipps teach
<br />in his and her own right, and as spouse of each other .. ID me known In hc ll1e
<br />identical person(s I whose name(s) are subscribed to lllc foregoing imlrumCnI and adnowlcdged 1I11.. C\Cl'ul ion
<br />thereof to be their voluntary act and deed.
<br />Witness my hanJ and nOIarial seal al GrBnd~Sla 1 braSk8.. . in 'oilid t.:'OUIlI) , IIII.'
<br />dale aforcsaid, /' --;
<br />
<br />
<br />My Com ....... ~.......@.Zl:c;.k7<<.
<br />,,' ~"Ia'\ I'ut'h. //1
<br />UEST REeO 'EYANU '.
<br />
<br />
<br />To TKUSTI'F
<br />The under..igncd i~ Iht.' hnldl'r nltllt... nnle or null.''' w.:url'd h~ rl1." Ikl'd ,,1 111I~I, "'illlllhllt.' 1'1 [HIll''', !"!!l'lhn
<br />'" .Ih all nlher jm.Jehledm...... "l'UlIl"d h~ ,hi" Dl:ct..I of 1 ru"l. hil\ t.' ht.'l'n p;ud III 1 ull ... "1I ,Ill' hel, II.. ,III l I,'d h', :l1h'l'l ",lId
<br />1101<.. or nole.. illld 111l..lJl'C'd III fIU..I, U:hll:h an...dcll~L"I...d Ill'reln, ,llId 11'I('ll'lllL'\ \\111\\'111 \\.I!I,II', ,Iii II,. "I,LlI
<br />fl\l\lo ht.'It.! h~ ~tHJ IIndt'f lhl..l>l"~'d Illlru..t Illlht., pl""lJ!l,ll Pl'I""II, k~'all\ l'1111Tkd 'h,I,"'-
<br />
<br />Dalt'
<br />
|