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87104486
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Last modified
10/19/2011 10:29:45 AM
Creation date
3/27/2008 2:36:42 PM
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DEEDS
Inst Number
87104486
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10 4 4 <br />POWNP <br />LOU satisfaction of Leader, Leader may, at its o option, exercise one or more <br />p f the <br />following rights and remedies and any other rights and remedies available to it. <br />(a) Accelerate the maturity of the Indebtedness, declare the in- <br />debtedness to be immediately due and payable, and exarcipe any <br />and all other rights and powers granted to the holder of the <br />Note in the event of a default; <br />(b) Exercise all rights and remedies available to Leader under <br />the April 25, 1985 Loan Agreement, as amended by the August 8, <br />1996 Loan Agreement Amendment and the July 1987 Second <br />Loan Agreement Amendment; <br />(c) Exercise all rights and remedies provided under the Nebraska <br />Trust Deeds Act to the holder, beneficiary and/or trustee of a <br />trust deed containing a power of sale; and <br />(d) Exercise the power of sale herein contained, or proceed to <br />bring an action at law on the Indebtedness, or proceed to <br />foreclose this Trust Deed in the manner provided by law for the <br />foreclosure of mortgages on real property. <br />If foreclosure is elected, this Trust Deed may thereupon be foreclosed <br />immediately and without any prior notice or demand. All costs and expenses incurred <br />by Lender in enforcing any right under this Trust Deed, including, without limita- <br />tion, abstract or title fees, appraisal fees, premiums for title insurance, attorney <br />fees and court costs, shall be and constitute indebtedness secured by this Trust <br />Deed, shall be included in the amount adjudged due under this Trust Deed in any <br />foreclosure decree and shall bear interest at the rate then applicable under the Note <br />from the date incurred. <br />If exercise of the power of sale is elected, Trustee shall record a notice <br />of default in each county in which the Property or some part thereof is located and <br />shall mail copies of such notice in the manner provided by, and to those persons <br />entitled to receive such notice under, applicable law. After the lapse of one month <br />from the date of recording of such notice of default, or such lesser period of time <br />as any then be required under applicable law, Trustee shall give public notice of <br />sale to the persons and in the manner prescribed by applicable law and thereupon may <br />sell the Property at public auction to the highest bidder at the time and place and <br />under the terms designated in the notice of sale, in one or more parcels, and in such <br />order as Trustee may determine. Trustee may postpone sale of all or any parcel of <br />the Property by public announcement at the time and place of any previously scheduled <br />sale. Lender or Leader's designee may purchase the Property at any sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the <br />purchaser a Trustee's deed conveying the Property sold. The recitals in the Trus- <br />tee's deed shall be prima facie evidence of the truth of the statements made therein <br />and shall operate as conclusive evidence in favor of bona fide purchasers and encum- <br />brancers for value without notice. Trustee shall apply the proceeds of sale in the <br />following order: <br />(a) to the costs and expenses of exercising the power of sale and <br />of the sale, including, but not limited to, Trustee's fees <br />actually incurred, reasonable attorney fees, and costs of title <br />evidence; <br />(b) to the Indebtedness; <br />(c) to the payment of junior trust deeds, mortgages or other lien <br />holders; and <br />(d) the excess, <br />if any, to the person or persons legally entitled <br />thereto. <br />16. Trustee's Ri&ht to Reinstate. If Trustor, within one month of Lender's <br />recording of Trust Deed, if the power of sale is to be <br />exercised, Khali pay to Lender <br />(a) the entire amount then due under the terms of this Trust Verd <br />and under the terms of the Indebtedness secured hereby, other <br />than such portion of' the Indebtedness as would not then be due <br />had no default occurred Gridebtedness evidenced My arty r1t)te <br />6 <br />
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