|
87-- 107016
<br />I 4. As additional security, Trustor hereby gives to and confers upon Beneficiary the right, power and authority, during the continuance
<br />of these Trusts to collect the rents, issues and profile of said property, reserving unto Trustor the right, prior to any default by Trustor
<br />in payment of any indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain such rents, issues
<br />and profits as they become due and payable. Upon any such default, Beneficiary may at any time without notice, either in person, by
<br />agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured,
<br />enter upon and take possession of said property or any part thereof, in his own name sue for or otherwise collect such rents, issues and
<br />profits, including those past due and unpaid, and apply the same upon any indebtedness secured hereby, and in such order as Beneficiary
<br />may determine. The entering upon and taking possession of said property, the collection of such rents, issues and profits and the application
<br />thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice.
<br />5. Upon default by Truster in the payment of any indebtedness secured hereby or in the performance of any agreement contained herein,
<br />all sums secured hereby shall immediately become due and payable at the option of the Beneficiary. In such event and upon written request
<br />of Beneficiary, Trustee shall sell the trust property, in accordance with the Nebraska Trust Deeds Act, at public auction to the highest
<br />bidder. Any person except Trustee may bid at Trustee's sale. Trustee shall apply the proceeds of the sale as follows: (1) to the expense
<br />of the sale, including a reasonable Trustee's fee; (2) to the obligation secured by this Deed of Trust; (3) the surplus, if any, shall be distributed
<br />to the persons entitled thereto.
<br />6. Trustee shall deliver to the purchaser at the sale its deed, without warranty, which shall convey to the purchaser the interest in
<br />the property which Trustor had or had the power to convey at the time of his execution of this Deed of Trust, and such as he may have
<br />acquired thereafter. Trustee's deed shall recite the facts showing that the sale was conducted in compliance with all the requirements
<br />of law and of this Deed of Trust, which recital shall be prima facie evidence of such compliance and conclusive evidence thereof in favor
<br />of bona fide purchasers and encumbrancers for value.
<br />7. The power of sale conferred by this Deed of Trust is not an exclusive remedy; Beneficiary may cause this Deed of Trust to be foreclosed
<br />as a mortgage.
<br />8. In the event of the death, incapacity, disability or resignation of Trustee, Beneficiary may appoint in writing a successor trustee,
<br />and upon the recording of such appointment in the mortgage records of the county in which this Deed of Trust is recorded, the successor
<br />trustee shall be vested with all powers of the original trustee. The trustee is not obliged to notify any party hereto of pending sale under
<br />any other Deed of Trust or of any action or proceeding in which Truster, Trustee or Beneficiary shall he a party unless such action or
<br />proceeding is brought by the Trustee.
<br />9. This Deed of Trust applies to, inures to the benefit of, and is binding not only on the parties hereto, but on their heirs, devisees,
<br />legatees, administrators, executors, successors and assigns. The term Beneficiary shall mean the holder and owner of the note secured
<br />hereby, whether or not named as Beneficiary herein.
<br />10. Request for Notice of Default or Notice of Sale. It is requested that a copy of any Notice of Default or Notice of Sale be mailed to
<br />each person who is named in this Trust Deed at the mailing address of such person as set out above.
<br />NOTICE TO CONSUMER: 1. Do not sign this paper before you read it. 2. You are entitled to a copy
<br />of this paper. 3. You may prepay the unpaid balance at any time without penalty and may be entitled
<br />to receive a refund of unearned charges in accordance with law.
<br />Signed this 5 day of December A.D. 19 87 .
<br />STATE OF NEBRASKA ) X ' U Hall COUNTY J X
<br />i
<br />On this 5 day of December A41, 19 87 , before me, the undersigned, a Notary Public, duly
<br />commissioned and qualified for and residing in said county, personally came Kenneth L. trhwipgpr R Janice E.
<br />Schwieger, husband & wifeto me known to be the identical person S__ whose name S affixed to the foregoing
<br />instrument as Trustor S and acknowledged the same to be t hp i r Vol-
<br />untary act and deed.
<br />Witness my hand and Notarial Seal the day and year 1 I I 6 IEAAI NARY Sttk M MlkiilD
<br />My Commission expires the 8 da
<br />o February g11ERila Y MA T �Oaa N
<br />` y Public
<br />a
<br />i
<br />STATE OF )
<br />) ss.
<br />County 1
<br />Entered in Numerical Index and filed for record in the office of the Register of Deeds of said county, the
<br />day of , 19 , at o'clock and
<br />minutes M., and duly recorded in Book _— of
<br />Mortgages page
<br />991 E82 (NE)
<br />Register of Deeds
<br />Deputy
<br />L � �
<br />L
<br />r
<br />�v
<br />N1
<br />
|