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201008729
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Last modified
11/23/2010 2:40:08 PM
Creation date
11/23/2010 2:40:08 PM
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DEEDS
Inst Number
201008729
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201008729 <br />6. If Borrower fails ta perform the covenants and agreements herein contained, Lender may do and pay for <br />whatever is necessary to protect the value of the property and Lender's rights in the property, including the <br />paying of any sum secured by a lien which has priority over this security instrument, appearing in Court, <br />paying reasonable attorney fees and entering the property to make repairs. Any amount disbursed by <br />Lender under this paragraph shall become an additional debt of Borrower secured by this security <br />instrument, to bear interest from the date oF disbursement and said amount, together with the then unpaid <br />principal amount, shall bear interest at the highest lawful rate until refunded by Borrower. <br />7, The proceeds of any condernnation award are hereby assigned and shall be paid to Lender and shall be <br />applied to the surns secured by this security instrument, whether or not then due, with any excess paid to <br />$orrower. <br />8. Any extensions or modifications of the ]oan granted by Lender to any successor in Interest of Borrower <br />shall not operate to release the liability oFthe original Borrower or Borrowers, successors in interest. Any <br />forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of <br />any right or remedy. <br />9. Any notice to �3orrower provided for in this security instrument shall be given by delivering it or may <br />mailing it by first class mail unless Nebraska law requires use of another method, at the Borrowers' last <br />known address. <br />10. This security instrument, and the Nate which it secures, shall be governed by Nebraska law. <br />I 1. Lender shall give notice to Borrower following Borrowers' breach of any covenant or agreement in this <br />security agreement and the Note which it secures. The notice shall specify (a) the default, (b) the action <br />required to cure th� default, (c) a date not less than thirty (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 the date <br />specified in the notice may result in acceleracion of the surn secured by this security agreement and resale <br />of the property. The notice shall further inform Borrower oFthe right to reinstate, after acceleration, and <br />the right to bring a Court action to asse�t the nonexistence of a default or any other defense of Borrower to <br />acceleration and sale. If default is not cured, on or before the date speci�ed in the natice, Lender, at its <br />option, may require immediate payment in full of all sums secured by this Security Agreement without <br />further demand and may invoke the power of sale and any other remedies permi�ted by Nebraska law. <br />Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph, <br />including, but not limited to, reasonable attorney fees and costs of title evidence. <br />12. if the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of <br />the property is located and shall mail copies of such notice in the manner prescribed by Nebraska law. <br />Trustee shall give public notice af sale to the persons and in the manner prescribed by Nebraska law. <br />Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder at the <br />time and place and under the terms designated in the notice of sale in one (1) or more parcels and in any <br />arder Trustee deterrnines. Trustee may postpone sale of all or any parcel of the property by public <br />announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase <br />the property at any sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to th� purchaser Trustee's Deed conveying <br />the property. The recitals in the Trustee's Deed sha11 be prima facie evidence of the truth of the statements <br />rnade therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the <br />sale including, but not limited to, Trustee's fees as permitted by Nebraska law and reasonable attorney fees, <br />(b) to all sums secured by this security agreement; and (c) any excess to the persan or persons legally <br />entitled to it. <br />13. Upon acceleration under Paragraph 12 or abandonment of the property, Lender (in person, by agent or by <br />judicially appointed receiver) shall be entitled to enter upon, take possession of and rnanage the property <br />and to collect the rents of the property, including those past due. Any rents collected by Lender or the <br />receiver shall be applied �rst to payment of the costs of management of the property and collection of rents <br />including; but not litnited ta, receiver's fees, premiums on receiver's bonds and reasonable attorney fees, <br />and then to the sutns secured by this security instrument. <br />14. Upon payment of all sums as berein provided, Lender shall direct Trustee to reconvey the property and <br />shall surrender this security instrument and the Note secured. Trustee shall reconvey the property without <br />warranty and without charge to the persons legally entitled to it. <br />2 <br />
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