|
DEED OF TRUST � U 1`� U� 4 O �
<br />Loan No: 101251.�8� ;; � �� ��� p� (Continued) Pege 7
<br />the Property or interest in the Property; increase the income ftom the Property or protect the security of
<br />the Property; and, with or without teking possession of the Property, sue for or otherwise collect the
<br />rents, issues end profits of the Property, including those pest due end unpaid, and epply the same, less
<br />costs and 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, issuea end profits, and the epplication thereof shell not cure or
<br />waive any defeult or notice of default under this Deed of Trust or invelidete any act done in response to
<br />such default or pursuant to such notice of default; end, notwithstanding the continuance in possession of
<br />the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall
<br />be entitled to exercise every rlght provided for in the Note or the Related Documents or by law upon the
<br />occurrence of eny event of defeult, tncluding 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 specifically
<br />enforce any of the covenents hereof; and
<br />(c) 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 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 loceted; and
<br />(d) With respect to ell or any part of the Peraonal Property, Lender shall have all the rights and remedies
<br />of a secured party under the Nebraska Uniform Commerciel Code.
<br />Foreclosure by Power of Sele. If Lender elects to foreciose by exercise of the Power of Sale herein contained,
<br />Lender shall notify Trustee and shell deposit with Trustee this Deed of Trust and the Note end such receipts
<br />and evidence of expenditures made and secured by this Deed of Trust es 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 lew and by this Deed of Trust.
<br />Trustee shall, without demand on Trustor, after such time es may then be required by law end efter
<br />recordation of such Notice of Default end after Notice of Sale having been given as required by lew, sell
<br />the Property at tha time and place of sale fixed by it in such Notice of Sale, either as a whole, or in
<br />seperete lots or parcels or items as Trustee shall deem expedient, and in such order es it may determine,
<br />at public auction to the highest bidder for cesh in lewful money of the United States peyable et the time
<br />of sele. 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, expreas 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 purchese at such sele.
<br />(b) As may be permitted by law, after deducting ell costs, fees and expenses of Trustee and of this
<br />Trust, including costs of evfdence of title in connection with sale, Trustee ahall apply the proceeds of sele
<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, if any, to the person or persons legally entitled thereto.
<br />(c) Trustee may in the manner provided by law postpone sele 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 end
<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 the Releted Documents, or under eny other agreement or
<br />any laws now or hereafter in force; notwithstanding, some or all of such indebtedness and obligationa secured by
<br />this Deed of Trust mey now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br />assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement, whether by court
<br />action or pursuant to the power of aele or other powers conteined in this Deed of Trust, shall prejudice or in any
<br />manner affect Trustee's or Lender's right to realize upon or enforce eny other security now or hereafter held by
<br />Trustee or Lender, it being egreed that Trustee and Lender, and each of them, shall be entitled to enforce this Deed
<br />of Trust and eny 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 discretion determine. No remedy conferred upon or reserved to Trustee or
<br />Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by lew provided or permitted, but
<br />eech shall be cumuletive end shall be in eddition to every other remedy given in this Deed of Trust or now or
<br />hereafter existing 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 mey be otherwise entitled, may be exercised,
<br />concurrently or independentty, from time to time and as often as may be deemed expedient by Trustee or Lender,
<br />end either of them may pursue inconsistent remedies. Nothing in this Deed of Trust shell be construed as
<br />prohibiting Lender from seeking a deficiency judgment egeinat the Truator to the extent such ection is permitted by
<br />law. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to
<br />meke expenditures or to teke action to perform an obligation of Truator under this Deed of Trust, after Trustor's
<br />feilure to perform, shall not affect Lender's right to declare a default and exercise its remedies.
<br />Request for Notice. Trustor, on behalf of Trustor and Lender, hereby requests that a copy of any Notice of Default
<br />end e copy of any Notice of Sele under this Deed of Trust be mailed to them at the addresses set forth in the first
<br />paragraph of this Deed of Trust.
<br />
|