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RE- RECORDED � f�5826 86- -10620 4 86 NONUNIFORM COVENANTS. Borrower and Lender further versant and agree as follows: 19. Acceleration. Remedies. Leader shall give notice to if prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraphs 13 and 17 unless Mpi101bie law provides otherwise). The notice shall specify: (a) the default (b) the action required to are the default; (e) a date, not kss boat 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to care the defa t on or before the date specified In the notice may result in seederation of the sums s'r m by thin Security Instrument and sale of the Property. The notice shall farther Inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non- existence of a default or any other defame of Harrower to acceleration and ask- If the default is not cured on or before the date specified to the notice, Lender at IN option my require immediate payment In full of all an= secured by this Security Instrument witboot further demand and nay invoke the power of sale and nay other remedies permitted by applicable law. Leader shall be entitled to collect all expenses Incurred In pursuing the remedies provided In this paragraph 19, including, but not limited to, reasonable attorneys' fax and costs e! title evidence. If the power of ask is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall mall copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of ask to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale or an or nay parcel cf the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order. (a) to all expenses of the sale, including, but not limited to, Trustee's fees as permitted by applicable law and reasonable attorneys' fees; (b) to all sums secured by this Security Instrument and (c) any excess to the person or persons legally entitled to it. 20. Lender in Possession. Upon acceleration under paragraph 19 or abandonment of the Property, Lender (in person, by agent or by judicially appointed receiver) shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. Any rents collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Security Instrument. 21. Reeonveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. 22. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. 23. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower's address which is the Property Address. 24. Riders to this Security Instrument If one or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. [Check applicable box(es)] []Adjustable Rate Rider Condominium Rider ❑ 2-4 Family Rider ❑ Graduated Payment Rider Planned Unit Developmen, Rider ❑ Other(s) [specify] BY SIGNING BELOW. Borrower accepts and agrees to the terms and covenants contained in Instrument and in any rider(s) executed by Borrower and recorded with it, . ......... Micheal- - ehael R. Phillips Bonita R. Phillips (space Selo n,s Lm ror Ackr. pWdgv..W) STATE OF 'NLBRASKJA. ......... Hall ................... 101.:nty ss- this Security ...........(Seal) — 8orro"r .........(Seal) - -Borroe. On this ...... 17th day of . October.........., 19.A6, before me, the undersigned, a N ry Public duly commissioned and qualified for said county, personally c flxchae! R. Phillips and Bonita R. Phillips, Husband and Wife Micheal ............. I to me known to be the identical aersontsl whose name(sl are subscribed to the foregoing instrument and ackn<7wrledged the execution thereof to be -, their voluntary act and deed. Witness my hand and notarial seal •t ,, Grand Island sa)d �- ounty, thF, aa _< aforesaid. /' e t................. h ? -ty, is FnTr::......