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86_0 ` 106279 NoN- Uxu =oRt t CAvENANn. Borrower and Lender further covenant and agree as follows: 19. Acceleration; Remedies. Leader " give,nodce to Borrower prior to acceleration following Borrower's broach of any covemo or agrees 1 - is this Security Instrument (hat ant prior to acceleration under paragraphs 13 said 17 adess applicable law ptmiia otherwise). The undue shall specitl. (a) the default; (b) the action required to care the Admit; W a Lee, aft ins tbm 30 days from the date the trustier is given to Borrower, by which the default own be cored; and (d) that failure to cm e the ' 1 11 an or beta the date specified in the notice any result in acceleration of the seats secured by tbk Security Imstrumemt M ado of the Property. The teadee sbdl further Worse Borrower of the right to m rhRe after acceleration and thus tiara to bring a ¢Dort action to ssset the nee- existatae of a ddadt or nay other Memo of Do own to acceleradom and sale. If the ddadt is not cmei on or betim the date specified in the notice. Leerier at IN epdm my equb r kumdimte p 13 P In fall of ON sums s0 ' I I by this Seemity battlement without farther demand and nay Wake the power of ode and my other reraedisa permuted by applicable law. Leader Ball be entitled to adect all expenses incurred In psnssing the remedies provided is this I 1 19, including, but not limited to, nmmwMe athmaeys' fen and cosh cftike evide am If the power of ode is invoked, Trustee shall record a notice of default in each county is which any part of the Property b located and shall mall copies of sack notice in the summer prescrilmd by applicable law to Borrower and to the other persons praaSed by mppBcabk law. Alter the time required by applicable law, Trustee sbali give public notice of sale so the pawn and in the manner psua>rxibed by applicable law. Trustee, without demand on Borrower, shall sell the 14 oprty at public auction to the highest bidder at the time and piece and under the term designated in the [mice of sale in one err more prods and k any order Trustee Aeteraioes. Trustee may postpone sale of all or any parcel of the Property by pobBe aoorm mm at at the time and place of my previously scheduled sale. Leader or its designee may purchase the Ply n uy ode. 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 shell be prima facie evidence of the truth of the statements made therein. Truster shall apply the proceeds of the sale is the following order: (a) to all expenses of the sale, including, but not limited to, Trustee's fees as permitted by appHemble haw and reasonable attorneys' fees; (b) to all son secured by this Security Instrument; and (c) my 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 receivers bonds and reasonable attorneys' fees, and then to the sums secured by this Security Insttvment. 21. Recorneymee. Upon payment of all sutras 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 he sent to Borrower's address which is the Property Address. 24. Riders to this Security Imstrament. 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 J 2-4 Family Rider tt7 Graduated Payment Rider Planned Unit Developme.:t Rider YXOther(s) [specify] Acknowledgment BY SiGNTNG BELow, Borrower accepts and agrees to the terms and covenants contained to this Security Instrument and in any rider(s) executed by Borrower and recorded - it. ....... : :: ....._ . James S. Reed . :.::., .. ..................... ...........s................... ....(Seal) Precious A. Reed _80+O.1w [Space eeio. Thia Line For [WCnOWWdVnerttl STATE Or NEBRASKA, .........U"L .................... County ss: On this day of ......October..... , 19.86. if.re ;ne, the undersigned, a Notary Public duly coimissloned aid qualified for said c 1, personally came .James. S.. Reed. and. Precious. Z.- Reed,.liusband. and -wife ....... .................................................... to me known to be the identical personis) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof to he ....their.... OIILU)tar� act and deed. Witness my hand and notarial Neal at ..... Grand.Island,.UE.......... 1 n said count. y, the date aforesaid. "" I,tft M Gl`-!` r�? � ................. . WNW 4. IN 11 M Nr,l ary 1171- Ifi� :' xmiset<>n r_xp :res: