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201107409
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10/5/2011 2:24:04 PM
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10/5/2011 2:24:03 PM
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DEEDS
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201107409
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�0�10�409 <br />1111059754 <br />Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any <br />Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of <br />release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a <br />Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by <br />any governmental or regulatory authority, or any private pariy, that any removal or other remediation of any <br />I�azardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary <br />remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on <br />Lender for an Environmental Cleanup. <br />NON-UNIFORM COVENANTS. Borrower and Lender further covena.nt and agree as follows: <br />22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration <br />following Borrower's breach of any covenant or agreement in this Security Instrnment (but not prior <br />to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: <br />(a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the <br />date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure <br />the default on or before the date specified in the notice may result in acceleration of the sums secured <br />by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the <br />right to 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 Barrower to acceleration and sale. If the default is not cured on or <br />before the date specified in the notice, Lender at its option may require immediate payment in full of <br />all snms secured by this Security Instrument without further demand and may invoke the power of <br />sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all <br />expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, <br />reasonable attorneys' fees and costs of title evidence. <br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which <br />any part of the Property is located and shall mail copies of such notice in the manner prescribed by <br />Applicable Law to Borrower and to the other persons prescribed by Applicable Law. After the time <br />required by Applicable Law, Trustee shall give public notice of sale to the persons and in the manner <br />prescribed by Applicable Law. Trustee, without demand on Borrower, shall sell the Properly at public <br />auction to the highest bidder at the time and place and under the terms designated in the notice of sale <br />in one or more parcels and in any order Trustee determines. Trnstee 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 />Lender or its designee may purchase the Property at aay sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed <br />conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth oF <br />the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to <br />all costs and expenses of exercising the power of sale, and the sale, including the payment of the <br />Trustee's fees actually incurred and reasonable attorneys' fees as permitted by Applicable Law; (b) to <br />all sums secured by this Security Instrument; and (c) any excess to the person or persons legally <br />entitled to it. <br />23. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall <br />request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing <br />debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Properiy without wananty to <br />the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Lender <br />may charge such person or persons a fee for reconveying the Property, but only if the fee is paid to a third <br />party (such as the Trustee) for services rendered and the charging of the fee is permitted under Applicable <br />Law. <br />24. Substitute Trustee, Lender, at its option, may from time to time remove Trustee and appoint a <br />NEBRASKA—Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENI' <br />� 338.5 Page 13 of l4 Form 30281lO1 <br />
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