|
d��, ,� - . � �� DEEDOFTRUST �Q
<br />Loan No: 101254375 (Continued) Page 7
<br />Lender deems in Lender's sole discretion to be sufficient to cure the default end thereafter continues end
<br />completes all reasonable and necessary steps sufficient to produce compliance as soon es reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Defeult occurs under this Deed of Trust, at eny time thereafter,
<br />Trustee or Lender mey exercise any one or more of the following rights and remedies:
<br />Acceleretion Upon Default: Additional Remedies. If any Event 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 peyable and
<br />the same shall thereupon become 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, with or without bringing any action or proceeding, or by a receiver
<br />eppointed by a court and without regard to the adequacy of its security, enter upon and take possession
<br />ot 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 />rents, issues and profits of the Property, including those past due and unpeid, and apply 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 es Lender may determine. The entering upon end taking possession of the
<br />Property, the collection of such rents, issues and profits, and the application thereof shall not cure or
<br />weive any defeult 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 shell
<br />be entitled to exercise every right provided for in the Note or the Related Documents or by law upon the
<br />occurrence of any event of default, including the right to exercise the power of sale;
<br />(bl Commence an action to foreclose this Deed of Trust as a mortgage, appoint e receiver or specificelly
<br />enforce any of the covenants hereof; and
<br />(c) Deliver to Trustee a written declaration of default and demend for sale and a written notice of default
<br />end 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) �th respect to all or any part of the Personal Property, Lender shall heve all the rights and remedies
<br />of a secured party under the Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sele herein contained,
<br />Lender shall notify Trustee and shell deposit with Trustee this Deed of Trust and the Note and such receipts
<br />and evidence of expenditures made and secured by this Deed ot 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 end Notice of Sale as then required by lew and by this Deed of Trust.
<br />Trustee shall, without demand on Trustor, efter such time as may then be required by law and after
<br />recordation of such Notice of Default and after Notice of Sele 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 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 metters or facts shall be conclusive proof of the truthfulness thareof. Any
<br />person, including without limitation Trustor, Trustee, or Lender, may purchese 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, including costs of evidence of title in connection with sale, Trustee shall 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 remeinder, if any, to the person or persons legelly entitled thereto.
<br />(c) Trustee may in the manner provided by lew postpone sale of all or any portion of the Property.
<br />Remedies Not Exclusive. Trustee and Lender, and each of tham, shall be entitled to enforce payment and
<br />performance of any indebtedness or obligations secured by this Deed of Trust and to exercise ell rights and powers
<br />under this Deed of Trust, under the Note, under any of the Related Documents, or under any other agreement or
<br />any laws now or hereafter in force; notwithstanding, some or all of such indebtedness and obligetions secured by
<br />this Deed of Trust may now or hereafter be otherwise secured, whether by mortgege, 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 sale or other powers contained in this Deed of Trust, shall prejudice or in eny
<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 thet Trustee and Lender, and each of them, shell 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 ebsolute discretion determine. No remedy confarred upon or reserved to Trustee or
<br />
|