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87 1052492
<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 on Borrower, shall sell 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 />oae 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 any sale.
<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 ad-
<br />dress which is the Property Address. "Borrower further requests that copies of the notices of default and sale be person
<br />set forth herein."
<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 applicablebox(es)]
<br />Adjustable Rate Rider Condominium Rider 71 2-4 Family Rider
<br />Graduated Payment Rider Planned Unit Development Rider
<br />Other(s) [specify]
<br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security
<br />I rumens and in any rider(s) executed by Borrower and recorded with it.
<br />—(Seal) 4lvv�c�� �y�dr- (mil)
<br />atricia A. Luton ( k a Patricia _Borrower DeLuton� — Borrower
<br />Ann Engel)
<br />(Seal)
<br />- Borrower
<br />— Borrower
<br />Patricia A. Luton (f/k/a Patricia Am Engel) and ACKNOWLEDGMENT
<br />1 /We, Dennis D. Luton, Wife and Husband ( "Trustor "), under that certain Deed of Trust dated
<br />August 28, 1987 ( "Deed of Trust ") to be entered into
<br />amoung Trustor, Lawyers Title Insurance Corporatist
<br />( "Trustee ") and Superior Mortgage, Inc.
<br />( "Beneficiary ") covering the following described property:
<br />Lot Thirteen (13), in Partelt Subdivision, being a part of Lots Seven (7),
<br />LEGAL DESCRIPTION: Fifteen (15), Sixteen (16) and Eighteen (18) of County Subdivision of part of
<br />the South Half (S'J) of Section Five (5), Township Nine (9) North, Range Nine (9)#
<br />hereby ackowledge that it is understood that (a) the Deed of Trust to be executed by Trustor is a trust deed and not a mor-
<br />tgage and (b) the power of sale provided for in the Deed of Trust provides substantially different rights and obligations
<br />to the Trustor than a mortgage in the event of a default of breach of obligation.
<br />eWest of the 6th P.M., in the Village of Duniphan, Hall Cotunty, Nebraska.
<br />Trustor Acknowledges that this Acknowledgment was made prior to the execution of the Deed of Trust.
<br />Executed and delivered this 28th
<br />State of Nebraska )
<br />)ss,
<br />Cry of Hall )
<br />day of August , 19 87
<br />� C jltS' t �.
<br />Trustor Patricia A. Luton (f/k/, Patricia Ann Engel)
<br />Trustor Dennis D Luton
<br />The forciloing instrument was acknowledged before me this 28th day of. August
<br />,1987 .by Patricia A. Luton (f /k /a Patricia Ann Engel.) and
<br />Dennis D. Luton, Wife and Husband
<br />Witnos my hand and notarial seal at (,rand Island in staid Count, the datc aloresaid.
<br />Mt samuraission c= . °et
<br />6C� �bwawnm Notar% lInbli,
<br />�P
<br />
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