|
_ .. . �
<br /> 0�.�20-�998 DEED OF TRUST Page 5
<br /> � Ldan No 703678 (Continued) g�— �Q3885
<br /> ` or invalidate any act done in response to such default or pursuant to such notice of defauit; and, notwiihstanding the continuance in
<br /> possession of the Property or the collection, receipt and appiication of rents, issues or profits, Trustee or Lender shall be entitled to
<br /> exercise every right provided for in the Noie or the Relaied Documents or by law upon the occurrence of any event of default,including the
<br /> right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the covenants
<br /> hereof;and
<br /> (c) Deliver to Trustee a written deciaration of default and demand for sale and a written notice of default and election to cause Trustor's
<br /> interesi in ihe Prope�ty to be sold, which notice Trustee shatl cause to be duly 81ed for record in the appropriate offices of the County in
<br /> which the Property is located;and
<br /> (d) With respect to all or any p�rt of the Personal Property,Lender shall have all the rights and remedies of a secured party under the
<br /> Nebraska U�iform Commercial Gode.
<br /> Foreclosure by Power of Sa1e. If Lender elects to foreclose by�xeroise of the Power oi Sale herein contained,Lender shail notNy Trustee and
<br /> shatt deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured by this Deed of
<br /> Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause to be recorded,published and delivered to Trustor such Notice of Default
<br /> and Notice of Sale as then required by!aw and by this Deed of Trust. Trustee shall,without demand on Trustor,after such time as may
<br /> then be required by law and after recordaiion of such Notice of Default and after Notice of Sale having been given as required by law,sell
<br /> the Property af the time and piace of sale fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as
<br /> Trustee shall deem expedient,and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of
<br /> the United S'tates payabie at the time�saie. Trustea SheN detMver to such purchas�r or ptxchase►s thereof ita�ood and sufNdad dsed a
<br /> deeds conveying the property so sold,bui wiihout any covertant or warranty,express or impfied. The recitals in such deed of any matters
<br /> or facts shall be conclusive proof of the truthfulness thereof. Any person, inciuding without limitation Trustor, Trustee, or Lender, may
<br /> purchase at such sale.
<br /> (b) As may be permitted by law,after deducting all costs,fees and expenses of Trustee and of this Trust, including costs of evidence of
<br /> title in connection with sale,Trustee shall apply the proceeds of sale to payment of (i)all sums expended under the terms of this Deed of
<br /> Trust or under the terms of ihe Noie 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,if any,to the person or persons legally entitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedfes Not Exclusive. Trustee and Lender,and each of them,shall be entiiled to enforce payment and performance of any indebtedness
<br /> or obligations secured by this Deed of Trust and to exercise all rights and powers under this Deed of Trust, under 1he Note, under any of the
<br /> Related Documents, or under any otfier agreement or any laws now or hereafter in force; notwithstanding, some or all of such indebtedness
<br /> and obligations secured by tnis Deed of Trust may now or hereaNer be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br /> assignment or otherwise. Neither ihe acceptance of this Deed of Trust nor its enforcement,whether by court action or pursuant to the power of
<br /> sale or other powers contained in this Oeed ot Trust, shall prejudice or in any manner affect Trustee's or Lender's right 10 realize upon or
<br /> enforce any other security now or hereaffer held by Trustee or Lender, it being agreed that Trustee and Lender, end each of them, shall be
<br /> entitled to enfo�ce this Deed of Trusi and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
<br /> either o( them may in their absolute discretion determine. No remedy conterred upon or reserved to Trustee or Lender, is intended to be
<br /> exclusive of any other remedy in this Deed ui Trust or by law provided or permitted, but each shall be cumulative and shall be in addition to
<br /> every other remedy given in this Deed of Trust or now or hereatter existing at law or in equity or by statute. Every power or remedy given by the
<br /> Note or any of the Related Documents to Trustee or Lender or to which either of them may be oiherwise entitled, may be exercised,
<br /> concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Lender, and either of them may
<br /> pursue inconsisient remedies. Nofhing in this Deed of Trust shall be construed as prohibiting Lender from seeking a deficiency judgment
<br /> against the Trustor to the extent such action is permitted by law.
<br /> Request For Notice. Trustor, on behalf of Trustor and Lender, hereby requests that a copy of any Notice of Default and a copy of any Notice
<br /> of 5ale und��"ifi`�s`D�e�t"of Trust be mailedio them si the addresses set forth in the first paragraph of this Deec}of Trusi.
<br /> Waiver; Electfon of Remedies. A waiver by any parfy of a breach of a provision of this Deed ot Trust shall not constitute a waiver of or
<br /> prejudice the party's rights otherwise to demand sirict compliance with that provision or any other provision. Election by Lender to pursue any
<br /> remedy provided in this Deed of Trust, the Note, in any Related Document,or provided by law shall nof exclude pursuit of any other remedy,
<br /> and an eleciion to make expenditures or to take action to perform an obiigation of Trustor under this Deed of Trust after failure of Trustor to
<br /> perform shali not affect Lender's righf to declare a default and to exercise any of its remedies.
<br /> Attorneys'Fees; Expenses. If lender institutes any suii or action to enforce any of the terms of this Deed of Trust,Lender shall be entitled io
<br /> recover such sum as the court may adjudge reasonable as attorneys' fees at trial and on any appeal. Whether or not any court action is
<br /> involved,all reasonable expenses incurred by Lender which in Lender's opinion are necessary at any time for the protection of its interest or the
<br /> enforcement of its nghts shali become a parl of the indebtedness payable on demand and shall bear interest at the Note rate from the date of
<br /> expenditure uniil repaid. Expenses covered by this paragraph include,without limitation, however subjeci to any limits under applicable law,
<br /> Lender's attorneys' fees wheiher or not there is a lawsuit, including attorneys'fees for bankruptcy proceedings (including efforts to modiy or
<br /> vacate any auiomatic stay or injunciion}, appeals and any anticipaied post—judgment collection senrices, the cost of searching records,
<br /> obtaining title reports (including foreclosure reports), surveyors' reports,appraisal fees,title insurance, and fees for the Trustee, to the extent
<br /> permitted by applicabte law. Trus�or aiso will pay any court costs,in addition to all oiher sums provided by law.
<br /> Rights of Trustee. Trustee shall have ail af the rights and duties of Lender as set forth in this section.
<br /> POWERS AND OBLIGATIONS OF TRUSTEE. The fotlowing provisions relating to the powers and obligations of Trustee are part of this Deed of
<br /> Trust.
<br /> Powers of Trustee. In addition to all powers of Trustee arising as a matter of law,Trustee shall have ihe power to take the following actions
<br /> with respect to the Property upon ihe written request of Lender and Trustor: (a)join in preparing and filing a map or plat of the Real Property,
<br /> including the dedication of streets or other rights to the public; (b)join in granting any easement or creating any restriction on fhe Real Property;
<br /> and (c)join in any subordinaiion or other agreement affeciing this Deed of Trust or the interest of Lender under this Oeed of Trust.
<br /> Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to ihe rights and remedies set forth above,
<br /> wiih respect to all or any part of the Property,the Trustee shatl have the right to foreclose by notice and sale,and Lender shall have the right to
<br /> foreclose by judicial foreclosure,in either case in accordance with and to the full extent provided by appliceble law.
<br /> Successor Trustee. Lender,at Lender's option, may from time to time appoint a successor Trustee to any Trusiee appointed hereunder by an
<br /> instrument executed and acknowfedged by Lender and recorded in the o�ice of the recorder of HALL County Nebraska. The inslrument shall
<br /> contain, in addition to all other matiers required by state law, the names of the original Lender,Trustee, and Trustor, the book and page(or
<br /> computer system reference)where this Deed of Trust is recorded,and the name and address of the successor trustee,and the instrument shall
<br /> be executed and acknowledged by all the beneficiaries under tha Deed of Trust or their successors in interest. The successor trustee,without
<br /> conveyance of the Property,shall succeed to ail the title,power,and duiies conferred upon the Trustee in this Deed of Trust and by applicable
<br /> law. This procedure for substitution of irustee shall govern to the exciusion of all other provisions for substitution.
<br /> NOTICES TO TRUSTOR AND OTHER PARTIES. Any notice under this Deed of Trust shail be in writing, may be sent by telefacsimile (unless
<br /> otherwise required by law), and shall be effective when actually deiivered, or when deposited with a nationally recognized overnight courier, or, if
<br /> mailed, shall be deemed effective when deposited in the Uniied Sfates mail first class,certified or registered mail, postage prepaid, directed to ihe
<br /> addresses shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal
<br /> written notice to the other parties,specifying that ihe purpose of the notice is to chenge the party's address. All copies of notices of foreclosure from
<br /> the holder of any lien which has priority over this Deed of Trust shalt be sent to Lender's address,as shown near the beginning of this Deed of Trust.
<br /> For notice purposes,Trustor agrees to keep Lender and Trustee informed at ail times of Trustor's curcent eddress.
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br /> Amendments. This Deed of Trust, together with any Related Documents,constitutes the entire understanding and agreement of the parties as
<br /> to the matters set torih in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing and
<br /> signed by the pa�ty or parties sought to be charged or bound by the elteration or ame�dment.
<br /> Applicabie Law. This Deed of Trust has been delivered io Lender a�d accepted by Lencler in the Stat f�V�f a��k T�fs Deed of Trust
<br /> ..��;..
<br /> ���"r X�''�
<br />
|