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200808929
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Last modified
12/2/2008 9:41:47 AM
Creation date
10/23/2008 2:43:31 PM
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DEEDS
Inst Number
200808929
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<br />2 <br /> <br />12. Acceleration; Remedies, Lender shall give notice to Borrower prior to acceleration <br />following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior <br />to acceleration under paragraph 8). The notice shall specify: (a) the default; (b) the action <br />required to cure the default; (c) a date, not less than 30 days from the date the notice is given to <br />Borrower, by which the default must be cured; and (d) that failure to cure the default on or before <br />the date specified in the notice may result in acceleration of the sums secured by this Security <br />Instrument and sale of the Property, The notice shall further inform Borrower of the right to <br />reinstate after acceleration and the right to bring a court action to assert the non-existence of a <br />default or any other defense of Borrower to acceleration and sale. If the default is not cured on <br />or before the date specified in the notice, Lender at its option may require immediate payment in <br />full of all sums secured by this Security Instrument without further demand and' may invoke the <br />power of sale and any other remedies permitted by applicable law. Lender shall be entitled to <br />collect all expenses incurred in pursuing the remedies provided in this paragraph 14, including, <br />but not limited to, reasonable attorneys' fees and costs of title evidence. <br /> <br />If the power of sale is invoked, Trustee shall record a notice of default in each county in <br />which any part of the Property is located and shall mail copies of such notice in the manner <br />prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. <br />After the time required by applicable law, Trustee shall give public notice of sale to the persons <br />and in the manner prescribed by applicable law. Trustee, without demand on Borrower,shall sell <br />the Property at public auction to the highest bidder at the time and place and under the terms <br />designated in the notice of sale in one or more parcels and in any order Trustee determines. <br /> <br />5. Condemnation, The proceeds of any award or claim for damages, direct or <br />consequential, in connection with any condemnation or other taking of any part of the Property, <br />or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. <br /> <br />In the event of a total taking of the Property, the proceeds shall be applied to the sums <br />secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. <br />In the event of a partial taking of the Property, unless Borrower and Lender otherwise agrees in <br />writing, the sums secured by this Security Instrument shall be reduced by the amount of the <br />proceeds multiplied by the following fraction: (a) the total amount of the sums secured <br />immediately before the taking, divided by (b) the fair market value of the Property immediately <br />before the taking. Any balance shall be paid to Borrower. <br /> <br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the <br />condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to <br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply <br />the proceeds, at their option, either to restore or repair the Property or to pay the sums secured <br />by this Security Instrument, whether or not then due. <br /> <br />6. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the time <br />for payment or modification of amortization of the sums secured by this Security Instrument <br />granted by Lenderto any successor in interest of Borrower shall not operate to release the liability <br />of the original Borrower or borrower's' successors in interest Lender shall not be required to <br />commence proceedings against any successor in interest or refuse to extend time for payment <br />or otherwise modify amortization of the sums secured by this Security Instrument by reason of any <br />demand made by the original Borrower or Borrower's successors in interest Any forbearance by <br />Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any <br />right or remedy. <br /> <br />7, Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants <br />and agreements of this Security Instrument shall bind and benefit the successors and assigns of <br />Lender and Borrower. Borrower's covenants and agreements shall be joint and several. <br /> <br />8. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has <br />the effect of rendering any provision of the Note or this Security Instrument unenforceable <br />according to its terms, Lender, at their option, may require immediate payment in full of all sums <br />secured by this Security Instrument and may invoke any remedies permitted by paragraph 12. <br /> <br />9, Notices. Any notice to Borrower provided for in this Security Instrument shall be given <br />by delivering it or by mailing it by first class mail unless applicable law requires use of another <br />method. The notice shall be directed to the Property address or any other address Borrower <br />designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's <br />address stated herein or any other address Lender designates by notice to Borrower, Any notice <br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender <br />when given as provided in this paragraph. <br /> <br />10. Governing Law; Severability. This Security Instrument shall be governed by the law <br />of the State of Nebraska. In the event that any provision or clause of this Security Instrument or <br />the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security <br />Instrument or the Note which can be given effect without the conflicting provision. To this end the <br />provisions of this Security instrument and the Note are declared to be severable. <br /> <br />11. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this <br />Deed of Trust. <br /> <br />200808929 <br />
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