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201104686
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201104686
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6/28/2011 3:59:42 PM
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6/28/2011 3:59:41 PM
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DEEDS
Inst Number
201104686
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20110468G <br />13. ACCELERATION; REMEDIES. Beneficiary shall give notice of default to Trustor prior to <br />acceleration following Trustor's breach of any covenant or agreement in this Trust Deed. The notice shall <br />specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from <br />the date the notice is given to Trustor, by which the default must be cured: and (d) that failure to cure the <br />default on or before the date specified in the notice may result in acceleration of the sums secured by this <br />Security Instrument and sale of the Properiy. The notice shall further inform Trustor of the right to <br />reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or <br />any other defense of Trustor to acceleration and sale. If the default is not cured on or before the date <br />specified in the notice, Beneficiary at its option may require immediate payment in full of all sums <br />secured by this Security Instrument without further demand and may invoke the power of sale and any <br />other remedies permitted by applicable law. Trustor shall be entitled to collect all expenses incurred in <br />pursuing the remedies provided in this paragraph 13, including, but not limited to, reasonable attorney's <br />fees and costs of title evidence. If power of sale is invoked, Trustee shall record a notice of default in <br />each county in which any part of the Property is located and shall mail copies of such notice in the <br />manner prescribed by applicable law to Trustor 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 and in the <br />manner prescribed by applicable law. Trustee, without demand on Trustor, shall sell the Property at <br />public auction to the highest bidder at the time and place and under the terms designated in the notice of <br />sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any <br />parcel of the Property by public announcement at the time and place of any previously scheduled sale. <br />Beneficiary or its designee may purchase the Property at any sale. Upon receipt of payment of the price <br />bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the <br />Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall <br />apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not <br />limited to, Trustee's fees as permitted by applicable law and reasonable attorney's fees; (b) to all sums <br />secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. <br />14. BENEFICIARY IN POSSESSION. Upon acceleration under paragraph 13 or abandonment <br />of the Property, Beneficiary (in person, by agent or by judicially appointed receiver) shall be entitled to <br />enter upon, take possession of and manage the Property and to collect the rents of the Property including <br />those past due. Any rents collected by Beneficiary or the receiver shall be applied first to payment of the <br />costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, <br />premiums on receiver's bonds and reasonable attorney's fees, and then to the sums secured by this <br />Security Instrument. <br />15. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, and each of them, shall be <br />entitled to enforce payment and performance of any indebtedness or obligations secured hereby and to <br />exercise all rights and powers under this Deed of Trust or under any Loan Instrument or other agreement <br />or any laws now or hereafter in force, notwithstanding some or all of the such indebtedness and <br />obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of <br />trust, pledge lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its <br />enforcement whether by court action or pursuant to the power of sale or other powers herein contained, <br />shall prejudice or in any manner affect Trustee's or Beneficiary's right to realize upon or enforce any <br />other security now or hereafter held by Trustee or Beneficiary, it being agreed that Trustee and <br />Beneficiary, and each of them, shall be entitled to enforce this Deed of Trust and any other security now <br />or hereafter held by Beneficiary or Trustee in such order and manner as they or either of them may in <br />their absolute discretion determine. No remedy herein conferred upon or reserved to Trustee or <br />Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted, but <br />each shall be cumulative and shall be in addition to every other remedy herein or by law provided or <br />permitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or <br />now or hereafter existing at law or in equity or by statute. Every power or remedy given by any of the <br />Loan Instruments to Trustee or Beneficiary or to which either of them may be otherwise entitled, may be <br />exercised, concunently or independently, from time to time and as often as may be deemed expedient by <br />Trustee or Beneficiary and either of them may pursue inconsistent remedies. Nothing herein shall be <br />construed as prohibiting Beneficiary from seeking a deficiency judgement against the Trustor to the <br />extent such action is permitted by law. <br />16. GOVERNING LAW. This Deed of Trust shall be governed by the laws of the State of <br />Nebraska. In the event that any provision or clause of any of the Loan Instruments conflicts with <br />applicable laws, such conflicts shall not affect other provisions of such Loan Instruments which can be <br />given effect without the conflicting provision, and to this end the provisions of the Loan Instruments are <br />declared to be severable. This instrument cannot be waived, changed, discharged or terminated orally, <br />but only by an instrument in writing signed by the party against whom enforcement of any waiver, <br />change, discharge or termination is sought. <br />17. RECONVEYANCE. Upon payment of all sums secured by this Security Instrument, <br />Beneficiary shall request Trustee to reconvey the Property and shall surrender this Security Instrument <br />and all notes evidencing debt secured by this Security Inst�rument to Trustee. Trustee shall reconvey the <br />Property without warranty and without charge to the person or persons legally entitled to it. Such person <br />or persons shall pay any recordation costs. �c <br />d' <br />��� <br />
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