|
� 201201010
<br /> DEED OF TRUST
<br /> Loan No: 872058457 (Contlnuecl) Page 5
<br /> the Property or tfie collection, receipt and application of rents,issues or profits;Trustee or Lender shall
<br /> be entitled to exercise every right provided for in the Credit Agreement or the Related Documents or by
<br /> taw upon the occurrence of any event ofi default,including the 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 specificaily
<br /> enforce any of the cove�ants hereof;and
<br /> (c1 Deliver to Trustee a written declaration of default and tlemand for sale and a written notice of default
<br /> and election 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 Counry in which the Property is located;and
<br /> (d) With tespect to all or any part of the Personal Property,Lender shall have ail the rights and remedies
<br /> of a secured party under the Netiraska Uniform Commercial Code. �
<br /> Foredosure 6y Power of Sale. If Lender elects to foreclose 6y exe�rcise of the Power of Sale herein contained,
<br /> Lender shall notify Trustee and shall deposit with Trustee this Deed of Trusf and the Gredit Agreement and
<br /> such receipts and evidence of expenditures made and secured 6y this Deed of Trust as Trustee may requite.
<br /> (a) Upon receipt of such notice from Lender,Trustee shali cause to be recorded,published and delivered
<br /> to Trustor such Notice of Defaulf and Notice of Sale as then required by law and 6y 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 Default and after Notice of Sale having been given as teq.uired by law,sell
<br /> the Property at the time and piace of sale fixed by it in such Notice of Sale, either as a whole, or in
<br /> se�arate 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 for cash in lawful money of the.United States payable at 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 /> recitals in such deed of any matters or facts shall be conctusive proof o#the truthfulness thereof. Any
<br /> person,inciuding without limitation T�ustor,Trustee,.or Lender,may purchase at such sale.
<br /> (b) As may be permitted hy law, after deducting ali costs, fees and expenses of Trustee and of this
<br /> Trust,including costs of evidence of title i�connection with sale,Trusiee shall apply the proceeds of sale
<br /> to payment of (i) all sums ezpended under the terms of this Deed of Trust or under the terms o'F the
<br /> Credit Agreement not then repaid,including tiut 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 /> Ic) Tiustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedies Mot Exdusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> performance oT any indeb*,edness o�obligations secured by this�eed of Trust and to exercise all rights and powers
<br /> under this Deed oi Trust,under the Credit Agreement, under any of the Related Documents,or under any other
<br /> agreement or any Iaws now or hereafter in force; notwithstanding, some or all of such indebtedness and
<br /> obligations secured 6y 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 Trust nor its enforcement,.
<br /> whether by court action or pursuant to the power of sale or other pawers contained in this DeBd of Trust, shall
<br /> prejudice or in any manner affect Trustee's or Lender's right to realize upon or enforce any other securiry now or
<br /> hereafter held by Trustee or Lender,it being agreed that Trustee and Lender;and each of them,shall be entitled m
<br /> enforce this Deed of Trust and any other security now or hereafter held py Lender or Trustee in such order and
<br /> manner as they or either of them may in their absolute 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 of Trust or by 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 power or remedy given 6y the
<br /> Credit Agreement or any of the Related Documents to Trustee or Lender or to which either of them may be
<br /> otherwise entitled, may 6e exercised, concurtently or independently, f�om lime to time and as often as may be
<br /> deemed expedient by Trustee or Lender, and either of them may pursue inconsistent remedies. Nothing in this
<br /> Deed of Trust shall be construed as prohibiting Lendet from seeking a deficiency judgment against tfie Trustor to
<br /> the extent such action is permitted by law.
<br /> Election of Remedies. All of Lender`s rights and remedies will be cumulative and may 6e exercised alone or
<br /> together. If Lender decides to spend money or to perform any of Trustor's obligations unde�this Deed of Trust,
<br /> after Trustor's failure to do so,that decision by Lender will not affect Lender's right to declare Trustor in defaulY
<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�eed of Trust be mailed to them at the addresses set forth in the first
<br /> paragraph of this Deed of Trust. �
<br /> Attorneys' Fees;Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of
<br /> Trust,Lerder shall be entitled to recover such sum as the court may adjudge reasonable as a'Ctorneys'fees at trial.
<br /> and upon any appeal. Wheiher or not any court action is involved, and to the e�ctent not prohibited by law, all
<br /> reasonabie expenses Lender incurs that in Lender's opinion are necessary a�i any time for the protection of its
<br /> interest or the enforcement o`its rights shall become a part of the Intlehtedness payable on demand and shall.bear
<br /> interest at the Credit Agreement rate from the date of the expenditure until repaid. Expenses covered by this
<br /> paragraph Include,without limitation,however subject to any limits under applicable law,Lender's attorneys'fees
<br /> and Lender's fegal expenses, whether or not thete is a lawsuit,. including attorneys' fees and expenses for
<br /> bankruptcy proceedings (induding efforts to modify or vacate any automatic stay or injunctionL appeals,and any
<br /> anticipated post-judgment collection services,. the cost of searching records, obtaining title reports (includi.ng
<br /> foreclosure reportsl,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 Lender as set forth in this section.
<br /> POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee
<br /> are part of this�eed of Trust:�
<br /> Powers of Trustee. In addition to all powers of Trustee arising as a matter of law,Trustee shall have the power m��
<br /> take the following acYions with respect to the Properfy upon the written request of Lender and Trustor. (a3 join in
<br /> preparing and filing a map or plat of the Real Property,including the dedicaiion of streets ot other rights to the
<br /> pu6lic; (6� join in granting any easement or creating any restriction on the Real Property; and (c) join in any
<br /> subordination or other agreement affecting this Deed of Trust or the inYerest of Lender under this Deed of Trust.
<br /> Trustee. Trustee shall meet all qualifications required for Trustee under applicabie law. In addition to the rights
<br /> and remedie5 set forth a6ove,with respect to all or any part of the Property,the Trustee shall have the right to
<br /> foreclose by notice and sale, and Lender will have the right to foreclose by judicial foreclosure, in either case in
<br /> accordance with and to the full e�ctent provided by applicable law.
<br /> Saccessor Trustee. Lender,at Lender's option,.may from time to time appoint a successor Trustee to any Trustee
<br /> appointed under this Deed of Trust by an insTrument executed and ack�owledged by Lender and recortled in the
<br />
|