|
Loan No: 11093583
<br />DEED OF TRUST
<br />(Continued) 2 p 12 l) 5�i 1� Page 5
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Existing Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is
<br />not made within the time required by the promissory note evidencing such indebtedness, or a default accurs under
<br />the instrument securing such indebtedness and is not cured during any applicable gtace period in such instrument,
<br />or any suit or other actlon is commenced to foreclose any existing lien on the Properly.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Everrt of Default occurs under this Deed of Trust, at any time thereafter,
<br />Trustee or Lender may exerdse any or� or more of the following rights ar� rernedies:
<br />Acceleration Upon Default; Additlonal Remedies. If any Event of Default occurs as per the temu of the Note
<br />secured hereby, Lender may dedare all Indebtedness secured by this Deed of Trust to be due and payable and
<br />the same shall thereupon bec:ome due and payable without any presentmerrt, demand, protest or notice of arry
<br />kind. Thereafter, Ler�der may.
<br />(a) Either fn person or by agerrt, with or without bringing any adion or proceeding, or by a receiver
<br />appoirrted by a court and without regard to the adequacy of its security, errter upon and take possession
<br />of the Property, or arry part thereof, in its own name or in the name of Trustee, and do any ads which it
<br />dcems neoessary or desirable to pr�e.serve the value, maricetability or rentability of the Properly, or part of
<br />the Properiy or irrterest in the Properiy; inaease the income from the Properly or protect the security of
<br />the Properly; arid, with or without taking pa�ssion of the Property, s� for or othervvise colled the
<br />rerrts, issues ar� proflts of the Properly, induding those past d� and unpaid, and apply the same, less
<br />c�sts and e�erues of operation and colledion attomeys' fee.s, to any indebtedness seaired by this Deed
<br />of Trust, all in such order � Lender may deteRnirre. The er�tering upon and taking posse,ssion of the
<br />Properiy, the collection of suc� rerrts, issues and profits, and the applicatlon thereof shall not cure or
<br />waive any default or notice of default wider this Deed of Trust or irnralidate any ad done in respor�e to
<br />such default or pursuarrt to such noUce of default; and, notwithstanding the �n�nuanae in posse.ssion of
<br />the Property or the collecUon, receipt and applicatlon of rents, issues or proflts, Trustee or Lender shall
<br />be enUUed to exerdse every right provided for in the Note or the Rdated Documerrts or by law upon the
<br />occurnen� of any everrt of default, induding the right to exerdse the power of sale;
<br />(b) Comrnence an adion to for�ed�e this Deed of Tnast as a mortgage, appoirrt a receiver or spedflcally
<br />enfor� arry of the c�ovenants hereof; and
<br />(c) Deliver to Trustee a written dedaration of default and demand for sale and a written noti� of default
<br />and eledion to cause Trustors inter�est in the Properly to be sold, which notice Trustee shall ca�e to be
<br />duly filed for record in the appropriate offic�s of the Courriy in which the Property is located; and
<br />(� With re,sped to all or arry part of the P�sonal Properly, Lender shall have all the rights and remedies
<br />of a secured party under the N�raska Uniform Comrnercial Code.
<br />Foreclosure by Power of Sale. If Lender eleds to foreclose by exercise of the Power of Sale herein contai�red,
<br />Lender shall noUfy Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts
<br />ar� evidenoe of expenditur� rr�de and secured by this Deed of Trust as Trustee may nequire.
<br />(a) Upon re�ipt of such notice from Lender, Trustee shall puse to be r�rded, published ar� delivered
<br />to Trustor such NoUce of Default and Notice of Sate � then required by law and by this Deed of Trust.
<br />Trustee shall, without demand on Trustor, after such tlme as may then be required by law ar�d after
<br />n�ordatlon of such NoUce of Default ar� after Notice of Sale having been given � required by law, sell
<br />the Properly at the tlme and plaoe of sale fixed by it in suc� Notice of Sale, e(ther � a whole, or in
<br />separate lots or paroels or items as Trustee shall dcem e�edierrt, and in such order as it may determirie,
<br />at public auctlon to the highest bid�r for c�h in lawful money of the Un(ted States payable at the time
<br />of sale. Trustee shall deliver to such purch�er or purchaseas thereof its good and sufficient deed or
<br />deeds conveying the property so sold, but without any �venant or warranty, e�r+e,ss or implied. The
<br />reatals in such deed of any matters or facts shall be conGusNe proof of the truthfulness theneof. Any
<br />person, induding without Iimitation Trustor, Trustee, or Lender, may purchase at such sale.
<br />(b) As may be permitted by law, after deductlng all c�sts, fees and e�er�ses of Trustee and of this
<br />Trust, induding costs of evidenoe of title in connectlon with sale, Trustee shall appty the prooeeds of sale
<br />to paymertt of p) all sums eaa�ended under the terms of this Deed of Trust or under the temis of the Note
<br />not then repaid, induding but not IimRed to acxxued IMere.st and late charges, (ii) all other sums then
<br />secured hereby, and (fii) the remainder, if any, to the person or per�ru legally entitted thereto.
<br />(c) Trustee rriay in the �nner provi�d by law postpor�e sale of all or any portlon of the Properly.
<br />Remedi� Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br />perFormance of any indebtedness or obligations secured by this Deed of Trust and to exerdse all 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; norivithstanding, some or all of such indebtedness and obligations secured by
<br />this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br />assignment or otherwise. Nefther 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 any
<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 that Trustee and Lender, and each of them, shall be entitled to enforce this D�d
<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 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 law provided or permitted, bui
<br />each shall be cumulative and shall be in additlon to every other remedy gNen in this D�d 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 may be otherwise entitted, may be exercised,
<br />concurrently or Independentiy, from tlme to time and as often as may be deemed expedient by Trustee or Lender,
<br />and either of them may pursue inconsistent remedles. Nothing in this Deed of Trust shall be construed as
<br />prohibiting Lender from seeking a deflciency judgment agafnst the Trustor to the extent such acUon is permitted by
<br />law.
<br />Election of Remedies. All of Lender's rights and remedi�a witl be cumulative and may be e�cerdsed alorre or
<br />together. If Lender deddes to sper�d money or to perform any of Trustor's obflgations under this Deed of Trust,
<br />after Trustor"s failure to do so, that decision by Lender will not affect Lenders �ight to dedare Trustor in default
<br />and to exerc�se Lenders remedies.
<br />Request for Notice. Trustor, on behalf of Trustor and Lender, hereby requests that a copy of any NoUce of Default
<br />and a copy of any Notice of Sale under this Deed of Trust be mailed to them at the addresses set forth in the flrst
<br />paragraph of this Deed of Trust.
<br />Attomeys' Fees; Exper�. If Ler�er (nstitutes any suft or acUon to enforce any of the terms of this Deed of
<br />Trust, Lerxler shall be entitled to r�over such sum as the court may adjudge re�onable � attomeys' fees at trial
<br />and upon any appeal. VVhether or not any court actlon is involved, and to the extent not prohibited by law, all
<br />re.aso►iable expenses Lender incurs that in Lender's opinion are ne�sary at any Ume for the protedion of its
<br />
|