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201206526
<br /> DEED OF TRUST
<br /> Loan No: 70003477 (COntlBlued) Page 5
<br /> not made within the time required by the promissory note evidencing such indebtedness, or a default occurs under
<br /> the instrument securing such indebtedness and is not cured during any applicable grace period in such instrument,
<br /> or any suit or other action is commenced to�foredose any existing lien on the Property.
<br /> Right to Cure_ ff any defiauR, other than a default in payment is curable and ifi Trustor has not been given a notice
<br /> of a breach of the same provision of this Deed of Trust within the preceding twelve (T2) months, it may be cured if
<br /> Trustor, after Lender sends written notice to Trustor demanding cure of such default: ("I) cures the default withfn
<br /> twenty (20) days; or (2) if the cure requires more than twenty (20) days, immediately initiates steps which
<br /> Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and
<br /> completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT_ Ifi an Event of Default occurs under this Deed ofi T�ust, at any time ihereafter,
<br /> Trustee or Lendet may exercise any one or more of the following rights and remedies:
<br /> Acceleration 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 tnis Deed of Trust to be due and payable 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 actiort or proceeding, or by a receiver
<br /> appointed by a court and without regard�to the adequacy of iis security, enier upon and take possession
<br /> ofi the Property, or any part thereof, in iYs own narne 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 ofi the Property, including those past due and unpaid, and apply ihe same, less
<br /> costs and expenses of operation and collection attorneys`fees,to any indebtedness secured by this Deed
<br /> of Trust, alI in such order as Lender may determine. The entering upon and. taking possession of the
<br /> Property, the� coilection of sucn rents, issues and profits, a�nd the application thereof shall not cure� or
<br /> waive any default or notice of default under this Deed of Trusi 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 Yhe collection, receipt and application of rents, issues or profits, Trustee or Cender shall
<br /> be entiiled to exercise every right provided for in the Note or the Related Documents ot by law upon the
<br /> occurrence of any event of default,including 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 ofi the covenants hereof; and
<br /> (c) DeFiver to Trustee a written dedaration of defiault and demand for sale and a written notice of default
<br /> and election To cause Trustor's interest in the Property io be sold, which notice Trustee shall cause to be
<br /> duly filed for record in the appropriate oifices of Yhe County in which the Property is located; and
<br /> (d) With respect to all or any part of the Personal Property, Lender shall have aIl 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 foredose by exercise ofi the Power of Sale herein con[ained,
<br /> Lender shall notify Trustee� and shall deposit with Trustee tnis Deed of Trust and the Note and such receipts
<br /> and evidence of expenditures made and secured by tnis Deed of 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 sucn Notice of Default and Notice of Sale as then required by law and by this Deed ofi Trusi.
<br /> Trustee shall, without demand on Trustor, after such time as may then be required by law and after
<br /> recordation of such Notice ofi Defiault and afiter Notice ofi Sale 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 exped'ient, and in such order as it may determine,
<br /> at public auction to the highest bidder for cash in lawful money ofi 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 matters or facts shall be conclusive proof of the trwthfulness thereof. Any
<br /> person, induding without limita2ion Trustor,Trustee,or Lender, may purchase at such sale.
<br /> � (b) As may be permitted by Iaw, after deducting a❑ costs, fees and expenses of Trustee and ofi tnis
<br /> Trust, including costs of evidence of title in connection with sale,Trustee shall apply the proceeds of sale
<br /> to payment of (i) aII sums expended under ihe terms of this Deed of Trust or under tne terms of the Note
<br /> not then repaid, including but not limited to accrued interest and late charges, (ii) all other sums tnen
<br /> secured hereby, and (iii) the remainder, if any,to ihe person or persons legally entitled tnereto.
<br /> (c) Trustee m.ay in the manner provided by law postpone sale ofi all or any portion of ttie Property.
<br /> Remedies Not Exdusive. Trustee and Lender, a�nd each of them, shall be entitled to enforce payment and
<br /> performance�of any indebtedness or obligations secured by Yhis Deed of Trust and to exetcise 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; notwithstanding, some or all ofi such indebtedness and obl.igations secured by
<br /> this Deed of Trust may now or hereafter be oYherwise seoured, 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 sale or other powers contained in this Deed of Trust, shall prejudice or in any
<br /> manner afifect Trustee's or Lender's rignt to realize upon or enforce any other security now or hereafiter held by
<br /> Trustee�or Lender, it being agreed that Trustee and Lender, and each of them,shall be entitled to enforce this Deed
<br /> ofi 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 /> �ender, is intended to be exclusive of any other remedy in this Deed of Trust or by law provided or permitted, but
<br /> each. shall be cumulative and shall be in addition to every other remedy given in this Deed of TrusY or now or
<br /> hereafter existing at law or in equity or by statute. Every power or remedy given by the Note or any ofi the Related
<br /> Documents to Trustee or Lender or to whicn either ofi them may be otherwise entitled, may be exercised,
<br /> concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Lender,
<br /> and either ofi them may pursue inconsistent remedies. Nothing in this Deed of Trust shall be construed as
<br /> prohibiting Lender from seeking a defiiciency judgment against the Trustor to the e�ctent such action is permitted by
<br /> law.
<br /> Election of Remedies. All of Lender°s rights and remedies will be cumulative and may be exercised alone or
<br /> together. Ifi Lender decides to spend money or to perform any of Trustor's obligations under this Deed of Trust,
<br /> after Trustor's fiailure to do so, that decision by Lender will not afifect Lender's right to dedare Trustor in default
<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 Defauk
<br /> and a copy ofi any Notice of Sale under this Deed of Trust be mailed to them at the addresses set forth in the first
<br /> paragraph o#this Deed of Trust.
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