201206390 - Laserfiche WebLink

Browse

7. APPOINTMENT OF SUCCESSOR TR.USTEE. Beneficiary may, from time to time, by a written instrument executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the �ust Eetate is located and by otherwise complying with the proviaions of the applicable law of the State of Nebraska subetitute a succesaor or successora to the Trustee named herein or acting hereunder. 8. SUCCE5SORS AND ASSIGNS. This Deed of Trust appliee to, inures to the benefit of and binds all parties hereto, their heirs, legatees, divorcee, persanal repreaentatives, successors and assigns. The term "Beneficiary" ehall mean the owner and holder of the Note, whether or aot named as Beneficiary herein. 9. INSPECTION. Beneficiary or its agent may make reasonable entriea upon and inapections of the Property. Beneficiary shall give Trustor notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. TRUSTOR NOT RELEASED; FORBEARANCE BY BENEFICIAR,Y NOT A WAIVER. Extension of the time for payment or modification of amortization of the sums aecured by this Security Instrument granted by Beneficiary to aay succeasor in intereat of Trustor ahall not operate to release the liability of the original Trustor or Truetor's sucxesaore in interest. Beneficiary shall not be required to commence proceedi.ngs against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by thia Security Instrument by reaeon of any demaad made by the original Trustor or ZYustor's succeasors in interest. Any forbearance by Beneficiary in esercising any right or remetiy shall not be a waiver of or preclude the egercise of any right or remedy. 11. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEAEST IN TRUSTOR. If all or any part of the Property or any interest in it is aold or transferred (or if a beneficial interest in Truetor is sold or transferred and Truator is not a natural person) without Beneficiary's prior written conaent, Beneficiary may, at ite option, require immediate payment in full of all eums aecured by this Security Instrument, however, thia option ahall not he egercised by Beneficiary if exerciae is prohibited by federal law as of the date of this Security Instrument. If Beneficiary exercisea thia option, Beneficiary shall give Trustor notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which the Trustor muat pay all sums secured by this Security Instrument. If T'ruetor faile to pay theae sums prior to the expiration of this period, Beneficiary may invoke any remediea permitted by thia Security Instrument without further notice or demand on Trustor. 12. EVENTS OF DEFAULT. Any of the following events ahall be deemed an event of default hereunder: a. Trustor shall have failed to make payment of any installment of interest, prinoipal, or principal and interest or any other aum secured hereby when due; or b. There has occurred a breach of or default under any terxn, covenant, agreement, condition, proviaion, represen- tation or warranty contained in any of the Loan Instruments. 13. ACCELERATION; REMEDIES. Beneficiary ahall give notice of default to Trustor prior to acceleration following Truator's breach of any covenant or agreement in this Trust Deed. The notice shall apecify: (a) the default; (b) the action required to cure the default; (c) a date, not lesa than 30 days from the date the notice ia given to ��ustor, by which the . default must be cured: and (d) that failure to cure the default on or before the date specified in the notice may result in� acceleration of the sums secured by this Security Instrument and sale of the Property. The notic� shall further inform: Trustor of the right to reinstate after acceleration and the right to bri.ng a court action to assert the non-existence of a. default or any other defense of �Yuator to acceleration and sale. If the default is not cured on or before the date apecified�, in the notice, Beneficiary at ita option may require immediate payment in full of all aums secured by thie Security, Instrument without further demand and may iavoke the power of sale and any other remedies permitted by applicable� law Trustor shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 13, including, but not limited to, reasonable attorney's fees and costs of title evidence. If power of sale ie invoked,l�uetee shall record a notice of default in each county in which any part of the Property is located and shall mail copies of auch notice in the manner prescribed by applicable law to Truetor and to the other peraons prescribed by applicable law AfteF the time required by applicable law, Truatee ahall give public notice of sale to the persons and in the manner prescribed by applic- able law Trustee, without demand on Trustor, ehall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Truatee may postpone sale of all or any parcel of the Property by public announcement at the time and place of any pre- viously scheduled eale. Beneficiary or ite designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee ahall deliver to the purchaser Truetee's deed conveying the Property. The recitala in the Trustee's deed shall be prima facie evidence of the truth of the atatements made therein. Trustee ehall apply the proceeda of the sale in the following order: (a) to all espenses of the eale, including, but not limited to, Tcvsetee's fees as permitted by applicable law and reasonable attorney's feea; (b) to all aums secured by thia Security Inatrument; and (c) any ezcess to the pereon or persons legally entitled to it. 14. BENEFICIARY IN POSSESSION. Upon acceleration under paragraph 13 or abandonment of the Property, Beneficiary (in person, by agent or by judicially appointed receiver) shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those pest due. Any rents collected by Beneficiary or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, includ- ing, but not lunited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's feea, and then to the sums secured by this Security Inetrument. 15. REMEDIES NOT EXCLUSIVE. Truetee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebtedness or obligations secured hereby and to egercise all rights and powera under this Deed of Trust or under any Loan Instrument or other agreement or any laws now or hereafter in force, notwithstanding some or all of the such indebtedness and obligations secured hereby may now or hereafter be otherwiae secured, whether by mortgage, deed of trust, pledge, lien, asaignment or otherwise. Neither the acceptance of this Deed of Truat nor its enforce- ment whether by court action or purauant to the power of sale or other poayers herein contained, shall prejudice or in any manner affect Trustee's or Beneficiary's right to realize upon or enforce any other aecurity now or hereafter held by Truatee or Beneficiary, it being agreed that Trustee and Beneficiary, and each of them, ahall be entitled to enforce this Deed of Trust and any other aecurity now or hereafter held by Beneficiary or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred upon or reserved to Truetee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter earisting at law or in equity or by statute. Every power or remedy given by any of the Loan Instruments to Truatee or Beneficiary or to which either of them may be otherwise entitled, may be egercised, concurrently or independently, from time to time and se often as may be deemed expe- dient by Trustee or Beneficiary and either of them may pursue inconsistent remediea. Nothing herein shall be construed as prohibiting Beneficiary from aeeking a deficiency judgment against the Trustor to the extent such action is permitted by law 16. GOVERNING LAW. This Deed of Trust shall be governed by the laws of the State of Nebraska. In the event that any provision or clauae of any of the Loan Instrumenta conflicts with applicable laws, such conflicts shall not affect other provisions of such Loan Instruments which can be given effect without the conflicting proviaion, and to thie end the pro- visione of the Loan Instruments are declared to be severable. This inatrument cannot be waived, changed, discharged or terminated orally, but only by an instrument in writing aigned by the party against whom enforcement of any waiver, change, diacharge or termination is sought. 17. RECONVEYANCE. Upon payment of all sums aecured by this Security Instrument, Betteficiary ahall request Trustee to reconvey the Property and shall surrender this Security Instrument and all aotes evidencing debt secured by this Security Instrument to Trustee. Trustee ahall reconvey the Property without warranty and without charge to the per- son or persons legally entitled to it. Such person or persona shall pay any recordation coats.