|
87- 102246
<br />NONUNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />19. Acceleration; Remalles. Lender shrill 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 am117
<br />who applicable law provides otherwise). The notice shrill specify: (a) the default; (b) the action required to cure the
<br />(c) a dete, not less than 30 days from the data 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 deft specified in the notice may result in acceleration of the sums
<br />by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />reinstate after acceleration ail the right to bring a court action to assert the non - existence of a default or any other
<br />defense of Borrower to aeceleration and sale. If the default is not cured on or before the date specified in the nodes, Lender
<br />at its option may require Immediate payment in full of all sums cured by this Security Instrument without further
<br />demand and may invoke the power of sale and may other remedies permitted by applicable law. Lender shall be entitled to
<br />coRM all expenses incurred in pursuing the remedies provided in this paragraph 19, including, but not limited to,
<br />ressomkbie attorneys' fees and costs of tltie 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 shall 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, without demand or Borrower, shall cell the
<br />Property at public auction to the highest bidder at 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 the
<br />Property at my sate.
<br />Upon receipt 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 shall 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' 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 />20. Lender in Possession. Upon acceleration under paragraph 19 or abandonment of the Property, Lender (in
<br />person, by agent or by judicially appointed receiver) shall be entitled to enter 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 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 />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 notes evidencing debt secured by this Security
<br />Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons
<br />legally entitled to it. Such person or persons shall pay any recordation costs.
<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 all the title, power and duties conferred upon
<br />Trustee herein and by applicable law.
<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 the Property Address.
<br />24. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with
<br />this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and
<br />supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security
<br />Instrument. (Check applicable box(es)]
<br />Adjustable Rate Rider F] Condominium Rider [] 2-4 Family Rider
<br />❑ Graduated Payment Rider 7 Planned Unit Development Rider
<br />Az� Other(s) [specify] Acknowledgement
<br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security
<br />Instrument and in any rider(s) executed by Borrower and recordedd with it. ,yam
<br />......................................................... ............................... f/.,1C2?....�!.(.:......... .........................(Seal)
<br />Dean M. Olson — aorrower
<br />......................................................... ............................... ....
<br />'cd........................ .................. (scal)
<br />Sandra K. Olson —ft^ow
<br />STATE OF NEBRASKA, Hall County ss:
<br />On this 14th day of April '19 87 , before me, the undersigned, a Notary Public
<br />duly commissioned and qualified for said county, personally came Dean M. Olson and Sandra K. Olson,
<br />husband and wife , to me known to be the
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution
<br />thereof to be their voluntary act and deed.
<br />Witness my hand and notarial seal at Grand Island in said county, the
<br />date aforesaid.
<br />gtNMa atititar -eat. ar aaaraNa � `
<br />My Commission expires: fRAt/DKfO
<br />Lraaaa �t�.4
<br />Noters
<br />REQUEST FOR RECONVEYAN(
<br />'To Tpusrtu:
<br />The undersigned is the holder of the note or notes secured by this Deed Of I'ruA. Said note or notes, totether m
<br />with all other indcbtedncss secured by this Deed of'frnu, have been paid in full. You are herebt directed to dnrcl s;ud
<br />note or notes and thin Fred of Trust, which are delkered heteby, and to recomrv, xothout tr;urann, all thr quite
<br />now held by you under this Decd of Trust to the per <on or person, levalls ewitictl 1I1etctt,
<br />f )air
<br />
|