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201206263
<br /> DEED OF TRUS�
<br /> Loan No: 872058705 (COntillued) Page 5
<br /> (b) Commence an action io foreclose this Deed of Trust as a mortgage, appo�int a receiver or specifically
<br /> enforce any of the covenants 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 appropriaie offices of the Couniy in which the Property is located; and
<br /> (d) With respect to all or any part ofi the Personal Property, Lender shall have all the rights and remedies
<br /> ofi a secured party under the Nebraska Unifiorm Commercial Code_
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose 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 and secured by tnis Deed of Trust as Trusiee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee sFlall cause to be recorded, published and delivered
<br /> to Trustor such Notice of Default 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 Default and after Notice of Sale having been given as required by law, sell
<br /> the Property at the time and place of saie fixed by it in such Notice of Sale, either as a whole, or in
<br /> separate bts or parcels or items as Trustee shall deem expedient, and in such order as it may determine,
<br /> . at public auction to the highesi bidder for cash in lawful money ofi ihe United States payable at the time
<br /> ofi 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 shatl be conclusive proofi of the truthfulness thereofi. Any
<br /> person, including without Iimitation Trustor,Trustee,or Leoder,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 connection with sale,Trustee shall apply the proceeds of sale
<br /> to payment of (i) all sums expended under the terms of this Deed of Trust or under the terms of the
<br /> Credit Agreement noi then repaid, including but noY limited to accrued interest and late charges, (ii) all
<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 6y law postpone sale ofi all ot any portion ofi the Property.
<br /> Remedies Not Exclusive_ Trustee and Lender, and each of them, shall� be entitled to enfiorce payment and
<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 ihe 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 sucfi 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 oiherwise. Neither the acceptance of this Deed of Trust nor its enforcement,
<br /> whethar by court action or pursuant to the power of sale or other powers contained in this Deed ofi Trust, shall
<br /> prejudice or in any manner affect Trustee's or Lender's right to realize upon or enfio�ce 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 entitled to
<br /> enfiorce 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 absolute discretion determine. No remedy conferred upon or
<br /> reserved to Trustee or Lender, is intended to be exclusive of any other remedy in ihis Deed of Trust or by Iaw
<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 i�n equity or by statute_ Every power or remedy given by the
<br /> Gredit Agreement or any of the Related Documents io Trustee or Lender or to which either of them may be
<br /> otherwise entitled, may be exercised, concurrently or independently, from time 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 Lender from seeking a deficiency judgment against the Trustor to
<br /> the extent such action is permitted by law.
<br /> Election of Remedies_ AII of Lender's rights and remedies will be cumulative and may be exercised alone or
<br /> together. If Lender decides to spend money or to perform any of Trustor'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 defauit
<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 to them at ihe addresses set forth irt the first
<br /> paragraph of this Deed of Trust.
<br /> Attorneys' Fees; Expenses. ff Lender institutes any suit or action to enforce any of the terms of this Deed of
<br /> Trust, Lender snall be entitled to recover such sum as the court may adjudge reasonable as attorneys' €ees at trial
<br /> and upon any appeal_ Wnetner or not any court action is i��nvolved, and to the extent not prohibited�by law, all
<br /> reasonable expenses Lender incurs that i.n Lender's opinion are necessary at any time for tne protectio�n of its
<br /> interest or the enfiorcement of its rights shall become a part of the Inde6tedness payable on demand and shali 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 legal expenses, whether or not there is a Iawsuit, including attorneys' fees and expenses for
<br /> bankruptcy proceedings (including efforts To modify o�vacate any automatic stay or injunction), appeals, and any
<br /> anti�cipated posY-judgment collection services, the cost of searching records, obtaining title reports (including
<br /> foredosure reports), surveyors' reports, and appraisal fees, title insurance, and fees fior the Trustee, to the ex[ent
<br /> permitted by applicable Iaw. Trusto�also will pay any court costs, in addition to all.other sums p�rovided 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 Deed of Trust:
<br /> Powers of Trustee. In addition to all powers ofi Trustee arising as a matter ofi Iaw,Trustee shall have the power to
<br /> take the following actions with respect to the Property upon the written request of Lender and Trustor. (a)join in
<br /> preparing and filing a map or plat of the Real Property, including the dedication ofi streets or other rigfits to the
<br /> public;. (b) join in granting any easement or creating any restriction on the Real Property; and (c) joi.n in any
<br /> subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed ofi Trust.
<br /> Trustee. Trustee shall meet all. qualifications required for Trustee under applicable law. In addition to the rights
<br /> and remedies set forth above, with respect to all or any part of the Property, the Trustee shall nave the rignt to
<br /> fioreclose by notice and sale, and Lender will fiave the right to foreclose by judiciat foreclosure, in eitfier case in
<br /> accordance with and to the ful.l extent provided by applicable law.
<br /> Successor 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 acknowledged by Lender and recorded in the
<br /> ofifice ofi the recorder ofi HALL County, State of Nebraska. The instrument shall contain, in addition to all other
<br /> matters required by state law, the names of the original Lender, Trustee, and Trustor, the book and page (or
<br /> computer system refierence) where this Deed of Trust is recorded, and the name and add�ess of the successor
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