200804918 - Laserfiche WebLink

Browse

200804918 (b) Notice of Default. Mortgagor hereby requests a copy of any notice of default and any notice of sale hereunder or under any other deed of trust recorded against the Property be mailed to Mortgagor at Mortgagor's address set forth in this Deed of Trust. While hereby expressly reserving the priority of this Deed of Trust as established by law, Trustee and Mortgagee hereunder request that a copy of any notice of default and any notice of sale under any deed of trust recorded against the Property either prior to, or subsequent to the date this Deed of Trust is recorded be mailed to each at the addresses set forth in this Deed of Trust. (c) Exercise of Power of Sale. Should Mortgagee elect to have the Deed of Trust foreclosed by exercise of the Power of Sale herein contained, Mortgagee shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured hereby as Trustee may require. Thereafter, and only in accordance with or as permitted by the Nebraska Trust Deeds Act: a) upon receipt of such notice from Mortgagee, Trustee shall cause to be recorded, published and delivered to Trustor such Notice of Default and Notice of Sale and any other notice or document or instrument as then required by law and/or by this Deed of Trust. Trustee shall, without demand on Mortgagor, after such time as may then be required by law and after recordation and/or delivery of such Notice of Default, Notice of Sale and/or any other notice required by law, sell the Property at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as Trustee may determine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof a good and sufficient deed or deeds conveying the property so sold, but without any covenant or warranty, express or implied. Any person, including. without limitation, Mortgagee (but specifically excluding the Mortgagor), may purchase at such sale, and Mortgagor hereby covenants to warrant and defend the title of such purchaser or purchasers; and b) the Trustee shall apply the proceeds of the Trustee's sale, first to the costs and expenses the power of sale and of the sale, including the payment of the Trustee's fees actually incurred not to exceed the amount which may be provided for in this Deed of Trust, second, to the payment of the obligation secured by this Deed of Trust, third, to the payment of junior deeds of trust, mortgages or other lienholders, and the balance, if any, to the person or persons legally entitled thereto; and 33 Doc# 2675364\2