|
201109747
<br /> � ` DEED OF TRUST
<br /> Loan No: 70001021 (COntiRU�d} Page 5
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and
<br /> �ender that is not remedied.wiThin any grace period provided therein,including without limitation any agreement
<br /> concerning any indebtedness or other obligation of Trusior�to Lender,whether existing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor,endorser,surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor,endorser, surety, or accommodation pariy
<br /> � dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> 6cisting Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is
<br /> not matle within the time required by the promissory noie evidencing such indebtedness,or a default occurs under
<br /> the instrument seeuring such indebtedness and is noi cured during any applica6le grace period in such instrument,
<br /> or any suit or other action is commenced to foreclose any ezisting lien on the Property.
<br /> Right to Cure. If any default,other than a default in payment is curable and if Trustor has not been given a notice
<br /> of a breach of the same provision of this Deed of Trust within the preceding twelve(12)months,it may be cured if
<br /> Trustor,after Lender sends w�itten notice to Trustor demanding cure of such default (11 cures the default within
<br /> twenty (20) days; or (2) if the cure requires more than twenty (20) days; immed5ately initiates steps which
<br /> Lender deems in Lender's sole discretion to be sufficient to cure the defauk�and thereafter continues and
<br /> completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust,at ar.y time thereafter,
<br /> Trusfee or Lender may exercise any one or more of the following rights and remedies:�
<br /> Acceleration lDpon Default;Additional Remedies. If any EvenY of Default occurs as per the terms of the Note
<br /> secured hereby,Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shall thereupon 6ecome due and payable without any presentment,demand,protest or notice of any
<br /> kind. Thereafter,Lender may:
<br /> - (a) Either in person or by agent, wiYh or without bringing any action or proceeding, or by a receiver
<br /> appointed by a courT antl without regard to the adequacy of its security,enter upon and take possession
<br /> of the Property,or any part thereof,in its own name or in the name of Trustee,and do any acts which it.
<br /> deems necessary or desirable to preserve the value,marketability or rentability of the Property,or part of
<br /> the Property or interest in the Property;increase the income from the Property or protect the security of
<br /> � the Property; and, with or without taking possession of the Property, sue for or otherwise collect the
<br /> rertts,issues and profits of the Property,i�cluding those past due and unpaid,and apply the same, less
<br /> costs arid expenses of operation and collection attorneys'fees,to any indebtedness secured by this Deed
<br /> of Trust, all in such order as Lender may determine. The entering upon and taking possession of the
<br /> �Property, the collection of such rents, issues and profits, and the application thereof shall not cure or .
<br /> waive any default or notice of default under this Deed of Trust or invalidate any act done in response to
<br /> � such default or pursuant to such.notice of default;and,notwithstanding the continuance in�possession of
<br /> the Property or the collection, receipt and application of rents, issues or profits,Trustee or Lender stiall
<br /> be entitled to exercise every right provided ior in the Note or the Retated Documents or by law upon the
<br /> occurrence of any event of default,including the right to exercise the power of sale;
<br /> � (b) Commence an action to foreclose this Deed of Trus2 as a mortgage,appoint a receiver or specifically
<br /> enforce any of the covenants hereof;and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a written noiice of default
<br /> and electlon to cause Trustor's interest in the Property to be sold,which notice Trustee shall cause to be
<br /> duly filed for record in the appropriate offices of the County in which the Property is IocaYed;and
<br /> (d) With respect to ail or any part of the Personal Properry,Lender shall have all the rights and remedies
<br /> of a secured party under the Nebraska Uniform Commercial Code.
<br /> Forecfosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale fierein.contained,
<br /> Lender shall notify Trustee and shall deposit with Trustee this Deed of Trust and the�Note and such receipts -
<br /> and evidence of expenditures made and secured by this Deed of Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause to be recorded,published and delivered
<br /> to Trustor such Notice of Default and Notice�of Sale as.then required by law and by this Deed of Trust.
<br /> Trustee shall, without demand on Trustor, after such time as may then be required by law and after
<br /> recordation of such Noti�ce of Default and after Notice of Sale having been given as required 6y law,sell
<br /> the Property at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in
<br /> separate lots or parcels or items as Trustee shall.deem expedient,and in such order as it may determine,
<br /> at public auction to the highest bidder fior cash in lawful money of the United States payable at the time
<br /> of sale. Trustee shall deliver io such purchaser or purchasers thereof its good and sufficient deed or
<br /> deeds conveying the property so sold, but without any covenant or warranty, express or implied. The
<br /> - recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
<br /> person,including without limitation Trustor,Trustee,or Lender,may purchase at such sale.
<br /> (6)� As may be permitted by law, after deducting all costs, fees and expenses of Trustee and ofi this
<br /> Trust,induding costs of evidence of title in connection with sale,Trustee shall apply the proceeds of sale
<br /> to payment of (i)all sums expended under the terms of this Deed of Trust or under the terms of the Note �
<br /> not then repaid,including but not limited to accrued interest and late charges, (ii) all other sums then
<br /> secured hereby,and (iii)the remainder,ifi any;to the person or persons legally entitled thereto.
<br /> ' Ic) Trustee may in the manner provided by laev postpone sale of all or any portion of the Property.
<br /> Remedies Not Exclusive. TrusYee and Lender, and each of them, shall be entitled to enforce� payment and
<br /> performance of any indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powers
<br /> under this Deed of Trust, under the Note, under any of tihe Relatetl Documents,or under any other agreement or
<br /> any laws now or hereafter in force; notwithstanding,some or all of such indebtedness and obligations secured by
<br /> this Deed of Trust may now or hereafter be otherwise secured,whether by mortgage,deed of trust, pledge, lien,
<br /> assignment or otherwise. Neitfier the acceptance of this Deetl of Trust nor its enforcement, whether by court
<br /> action or pursuant to the power of sale or other powers contained in this Deed of Trust,shall prejudice or in any
<br /> manner affect Trustee's or Lender's right to realize upon or enforce any other security now or hereafter held by
<br /> Trustee or Lender,it being agreed that Trustee and Lender,and each of them,shail be entitled to enforce this Deed
<br /> of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
<br /> either of them may in their absolute d�iscrevon determine. No remedy conferred upon or reserved to Truscee or
<br /> Lender,is intended to be exdusive of any other remedy in this Deed of Trust or by law provided or permitted,but
<br /> each shall be cumulative and shall be in addition to every other remedy given in this Deed of Trust or now or
<br /> hereafi[er ewsting at law or in equity or by statute. Every power or remedy given�by the Note or any of�the Related
<br /> Documents to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised,
<br /> concurrently or independently,from time to time and as often as may be deemed expedient by Trustee or Lender,
<br /> and either of them may pursue inconsistent remedies. Nothing in this Deed ofi Trust shall be co�strued as
<br />
|