|
201200629
<br /> DEED OF TFtUST
<br /> Loan No: 872058423 (Continued) Page 5
<br /> (b) Commence an action to foredose this Deed of Trust as a mortgage,appoint a receiver or specifically
<br /> enforce any of the covenants hereof;and �
<br /> Ic) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default
<br /> and election to cause Trustor's interest in the Proper[y 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 located;and
<br /> (d) With respect to all or any part of the Personal Property,Lender shall have all the rights and remedies
<br /> of a secured party under the Nebraska Uniform Commercial Code. -
<br /> � � Fo�eclosure by Power of Sale. If Lender elects�to foredose by exercise of the Power of Sale herein contained,
<br /> Lender shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Credit Agreement and
<br /> such receipts and evidence of expenditures made 2nd secured by this Deed of Trusi 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 Notioe of�efault 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 Notice of�efauft and after Notice of Sale having been given as required by 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 it�ems as Trustee shail deem expedient,and in such order as it may determine,
<br /> at public auction to the highest bidder for cash in lawful money of the United States payable aY the time
<br /> of sale. Trustee shall deliver to 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 /> recitais in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any �
<br /> person,including withoutlimitation Trustor,Trustee,or Lender,may purchase at such sale.
<br /> (b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this
<br /> Trust,induding costs of evidence of title in co�nection with sale,Trustee shall apply the proceeds of sale
<br /> io payment of {i� all sums expended under the terms of tfiis Deed of Trust or under the terms of the
<br /> Credit Agreement not then repaid,including but not limited to accrued interest and late charges, (ii)ail
<br /> other sums then secured hereby,and (iii)the remainder,if any,to the person or persons legally entitled
<br /> thereto. � �
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> performance of any indebtedness or o6ligations secured by this Deed of Trust and to exercise all righfis and powers
<br /> under this Deed of Trust, under the Credit Agreement, under any of the Related Documents, or under any other
<br /> agreement or any laws now or hereafter in force; notwithstanding, some or all of such indebtedness and
<br /> obligations secured by this Deed of Trust may now or hereafter be otherwise secured,whether by mortgage,deed
<br /> of trust,pledge,lien,assignment or otherwise. Neither the acceptance of this Deed of T�ust nor its enforcement,
<br /> whether by court action or pursuant io the power of sale or other powers contained in this Deed of Trust, shall
<br /> prejudice or in any manner affect Trustee's or Lender's right to realize upon oe enforce any other security now or
<br /> hereafter held by Trustee or Lender,it being agreed that Trustee and Lender,and each of them,shall be entifled to
<br /> enforce this Deed of Trust and any other security now or hereafter held by Lender or Trustee in such order and
<br /> manner as they or either of them may in their a6solute discretion determine. No remedy conferred upon or
<br /> reserved to Trustee or Lender, is intended to be exclusive of any other remedy in this Deed ofi Trust or 6y law
<br /> provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given in this
<br /> Deed of Trust or now or hereafter existing at law or in equity or by statute. Every powe�or remedy given by the
<br /> Credit Agreement or any of the Related Documents :o Trustee or Lender or to which either of them may be
<br /> otherwise entitled, may be exercised, concurrently or independently, feom time to time and as often as may be
<br /> deemed expedient by Trastee or Lender, and either of them may pursue inconsistent remedies. Nothing in this
<br /> Deed of Trust shall be construed as prohibiting Lender from seeking a deficiency judgment against the Trustor to
<br /> the extent such action is permitted by law. -
<br /> Election of Remedies. All of Lentler's rights and remedies wili be cumulative and may be exercised alone or
<br /> together. If Lender decides to spend money or to perform any of Ttustor's obligations under this Deed of Trust,
<br /> after Trustor's failure to do so,that decision by Lender will not afifect Lender's right to declare Trustor in default
<br /> and to exercise Lender's remedies. �
<br /> Request for Notice. Trustor,on behalf of Trustor and Lender,hereby requests that a copy of any Notice of Default
<br /> and a copy of any Notice of Sale under this Deed of Trust be mailed Yo them at the addresses set forth in the first
<br /> paragreph of this Deed of Trust.
<br /> Attorneys' Fees; F�cpenses. If Lender institutes any suit or action to enforce any of the terms of tliis Deed of
<br /> Trust,Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys'fees at trial
<br /> and upon any appeal. Whether or not any court action is involved,and to the extent not prohibited 6y faw, all
<br /> reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its .
<br /> interest or the enforcemenY of its rights shall become a part of the Indebtedness payable on demand and shall bear
<br /> interest at the Credit Agreement rete from the date of the expenditure until repafd. Expenses covered by this
<br /> paragraph include, without limitation,however su6ject m any limits under applicable law,Cender's�attorneys'fees
<br /> and Lender's legal expenses, wfiether or not there is a lawsuit, including attorneys' fees and expenses for
<br /> �bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunctioN,appeals,and any
<br /> anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including
<br /> foreclosure reporcs),surveyors'reports,and appraisal fees,title insurance,and fees for the Trustee,to the extent
<br /> permitted by applicable law. Trustor also will pay any court costs,in addition to all other sums provided by law.
<br /> Rights of Trustee. Trustee shall have all of the rights and duties of Lendet as set forth in this section.
<br /> POWERS AND OBLIGATIONS OF TRUSTEE. The following provisiQns relating to the powers and obligations of Trustee
<br /> are part of this Deed of Trust:
<br /> Powers of Trustee. In addition to all powers of Trustee arising as a matter of�law,Trustee shall have the power to
<br /> take the following actions with respect to the Property upon fhe written request of Lender and Trustor. (a)join in
<br /> preparing and filing a map or plat of the Real Property, including the dedication of streets or other rights to the
<br /> public, (b) join in grenting any easement or creatPng any restriction on the Real Property; and (ci join in any
<br /> subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust.
<br /> Trustee. Trustee shall meet all qualifications required for Trustee under applicable Iaw. In addition to Yhe rights
<br /> and remedies set forth above,with respect to all or any part of the Property,the Trustee shall have the rigFit to
<br /> foreclose by notice and sale, and Lender will have the right to foreclose 6y judicial foredosure, in either case in
<br /> accordance witli and to the full eMent provided by applicable law.
<br /> Successor Trustee. Lender,at Lender's option,may from time io time appoint a successor Trustee to any Trustee
<br /> appointed under this Deed of Trust by an instrument executed and acknowledged by�ender and recorded in the .
<br /> office of the recorder of HALL County, State of Nebraska. The instrument shall contain, in addition to all other
<br /> matters requi�ed 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 ihe name and address ofi the successor
<br />
|