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<br />88- 106572 <br /> <br />NON.UNIFORM COVENANTS. Borrower and Lender further covenant Bod agree as follows: <br /> <br />19. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's <br />breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraphs 13 Bnd 17 <br />unless applicable Ja" pro,ides otherwise), The notice shall specify: (s) the default; (b) tbe Dction required to cure the <br />~efault; (c) a date, not less than 30 days from the date the Dotice Is given to Borrower, by which the default must be cured; <br />and Cd) that failure to cure the default on or before the date specified in the notice may reiult in acceleration of the sums <br />secured by this Security Instrument and sale of tbe Property. The nutlee shall further Jnform Borrower of the right to <br />reinstate after acceleration and the right to bring a court action to BSsert the non-existence of a default or any other <br />defense of Borrower to acceleration and sale. trthe default Is not cured on or before the date specified In the notice, Lender <br />at its option may require immediate payment in full of all SUIDS secured by this Security Instrument without further <br />demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to <br />eoUeet all expeoses Incurred In pursuing the remeelles provided in this para!P'llph 19, Including: but not limited to, <br />reasonable attorneys' fees and costs of title evidence. <br />It the power ot :sale ~s invoked, Trustee shall record a notice of default In each county in which any part of the <br />Property 15 located BllilshaU mail copies of such notice in the manner prescribed by applicable law to Borrower and to the <br />other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of <br />sale to the persons and in the manner prescribed by applicable law, Trustee, witbout demand on Borrower. shall sell the <br />Property at public auction to the highest bidder at the time and place and under t~e 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 p~rcel of the Property by <br />public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the <br />Property al any sale. <br />Upon ret~ipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the <br />Property, The recitals in the Trustee's deed sbaD be prima facie evidence of the truth of the statements made therein. <br />Trustee shall apply the proceeds of the sale in the followinil 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' fees; (b) to all sums secured by this Security <br />Instrument; and (c) any excess to the person or persons legally entitled to it. <br /> <br />20. Lender in Possession. Upon acceleration under paragraph lq or abandonment of the Property. Lender (in <br />person, by agent or by judicially appointed receiver) shall be entitled to enler upon, take possession of and manage the <br />Property and to collect the rents of the Property including those past due. Any rents collected by Lender or the receiver <br />shall be applied first to payment of the costs of management of the Property and collection of rents, including. but not <br />limited 10. 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 Security Instrument, Lender shall request Trustee to <br />reconvey the Property and shall surrender this Security Instrument and all noles evidencing debt secured by this Security <br />Instrumenl to Truslee, Trustee shall reconvey Ihe Propeny without warranty and without charge to the person or persons <br />legally entilled to it, Such person or persons shall pay any recordation costs. <br /> <br />22, Substitute Trustee. Lender, at its option. may from tIme to time remove Trustee and appoint a successor trustee <br />to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. <br />Without conveyance of the Property. the successor trustee shall succeed to an the title. power and duties conferred upon <br />Truslcc herein and by applicable law. <br /> <br />23, Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower"s <br />address which is Ihe Property Address. <br /> <br />24. Riders to thil Security Instrument. If one or more riders arc executed by Borrower and recorded together with <br />this Security Instrument. the covenants and agreements or each such rider shall be incorpol1ltm into and shall amend and <br />supplement the covenants and asreemenls of this Security Instrumenl as if the rider(s) were a part of this Security <br />Instrumen!. [Check applicable OO.(es)] <br /> <br />D Adjustable Rate Rider 0 Condominium Rider D 2-4 Family Rider <br /> <br />D Graduated Paymenl Rider <br /> <br />D Planned Unil Dcl'elopment Rider <br /> <br />D Other(s) [specify] <br /> <br />By SIONING BELOW, Borrower accc:pts and agrees 10 Ihe lenns and covenants contained in rhis Security <br />Instrument and in any ridcr(s) executed by Borrower and recorded wilh il. <br /> <br /> <br />.;'id.:.G....Piiif!.~~........~~ <br />.L...~...................(ScaJ) <br />Phelps -80,.-, <br /> <br /> <br />STATE OF NElIRA"A. Hall <br /> <br />CilUI1lY ~s: <br /> <br />On lhis 1st day of December . 19 BB . hcfon.' llIe, the um.lcr~i!!ned, a NOlary Publk <br />duly commissioned and quuliried for snld county, pmonalll' came Reginald G. Phelps and Patricia L. <br />Phelps, eech in his end her own right. and es spousa of each other. 10 me known 10 be Ihe <br />idenlical pcrson(s) whose nomc(s) Ilrc subscribed lO the roregoin~ in~lrlln1t'lIt and ud~nowlL'dged the execution <br />thereof 10 be their volunlary act and deed, <br />Witncs~ my hand and notarial seal at Grand Island, Nebraska in ..aid COIlI1l~', Ihl.' <br />date aforesaid, <br /> <br />My Commission expire>: I.J::E~ I.. !jctVLJ. ('Q?.',!,:y, <br />....'.lill'l'uhlh. <br />REQUEST FOR RECONHY,\Nl'E <br /> <br />TIITRtJ'i'r-J:I" <br />The undcr,igllC't..!,\ lhl" h~IIJl"r Illlhc Imll' III lllHt" \l.'l."llTl.'tJ h, Ihl' Dt'C'd {II Ilu,'. 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