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201207609
<br /> � ' DEED OF TRUST
<br /> Loan No: 10004016 (COntinued) Page 5
<br /> 6dsting Indebtedness. The payment of any installment of principal or any interest on the Existing lndebtedness is
<br /> not made within the time required by the promissary 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 foreclose any existing lien on the Property.
<br /> Right to Cure. If any default,other than a default in payment is curable and if Trustor has�ot been given a notice
<br /> of a breach ofi the same provision of this Deed of Trust within the preceding twelve(12)months,it may be cuted if
<br /> Trustor,after Lender sends written notice to Trustor demanding cure of such default: 11) cures the defaolt within
<br /> twenty (20) days; or 12) if the cure requires more than twe�ty (20) days, immediately initiates steps which
<br /> Lender deems in Lender's sole discYetion to be sufficient to cure thA 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. If an Event of Default occurs under this Deed of Ttust,at any time thereafter,
<br /> Trustee or Lender 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 this Deed of Trust to be due and payable and
<br /> the same shall thereupon become due and payable without any presentment,demand,peotest 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 /> appointed by a court and without regard to the adequacy of its security,enter upon and take possession
<br /> of 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 /> �ents,issues and profits of the Property,including those past due and unpaid,and apply the same, less
<br /> costs and expenses of operation and collection attorneys'fees,fo any indebtedness secured by this Deed
<br /> of Trust, allin such order as Lender may determine. The entering upon and taking possession of the
<br /> Property, the collection of such rents, issues and profits, and the application thereof shall not cure or
<br /> waive any default or notice of default under this Deed of Trust or invalidafe any act done in response to
<br /> such default or pursuant to such notice of default;and,notwithstanding tFie conYinuance in possession of
<br /> the Property or the collection,receipt and application of rents,issues or profits,Trustee or Lender shall
<br /> be entitled to exercise every right provided for in the Note or the Related Documents or by law uport the
<br /> occurrence of any eVent of default,including the right to exetcise the power of sale;
<br /> (b) Comrnence an action to foreclose this Deed of Trust as a mortgage,appoint 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 interestin the Property to be sold,which notiee Trustee shall cause to be
<br /> duly filed for record in the appropriate offices of the County in which the Property is located;and
<br /> (d) With respect to all or any part of the Personal Propeny,Lender shall have all the rights and remedies
<br /> of a secured party under the Ne6raska Uniform 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 Note and such receipts
<br /> and evidence of expenditures made and secured by this 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 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 Peoperty at the time and place of sale fiixed 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 tfine
<br /> of sale. Trustee shall deliver to such purchaser or purchasers thereofi 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 condusive proof of the truthfulness thereof. Any
<br /> person,including without limitation Trustor,Trustee,or Lender,may purchase at such sale.
<br /> Ibl 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 tlie proceeds of sale
<br /> to payment of (i)all sums expended under the terms of this Deed of Trust or under the terms of ihe Note
<br /> not then repaid,including but not limited to accrued interest and late charges, (ii) all other sums then
<br /> secured herehy,and (iii)the remainder,if any,to the person or persons legally entitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedies Not Ezclusi�e. Trustee and Lender, and eacfi of them, shall be entitled to enforce payment and
<br /> performance of any indebtedness or obligations secured by this Deed of Trust and m exercise 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 of such indebtedness and obligations secured 6y
<br /> this Deed of Trust may now or hereafter be otherwise secured,.whether by mortgage,dsed of trust,pledge, lien,
<br /> assignment or oiherwise. Neither the accepiance of Yhis 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 upo�or enforce any other secarity 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 Deed
<br /> of Trust and any other security now or hereafEer 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,but
<br /> each shall be cumulative and shall be in addition to every other remedy given in this Deed 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 entitled, may he exercised,
<br /> concurrently or independently,from time to time and as often as may be deemed expedient by Trustee or Lender,
<br /> and either of them may pursue inconsistent remedies. Nothing in this Deed ofi Trust shall be construed as
<br /> prohibiting Lender from seeking a deficiency judgment against the Trustor to the extent such action is permitted by
<br /> 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 Trusmr's failure to do so,thai decision by Lender will not affect Lender's right to declare Trustor in default
<br /> and to exercise Lender's remedies.
<br /> Request for Notice. Trustor,on behalf of Trustor and Lender,hereby tequests that a copy of any Notice of Default
<br /> and a copy of aoy Notice of Sale under this Deed of Trust be mailed to them�at the addresses set forth in the first
<br /> paregraph of this Deed of Trust.
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