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201207757
<br /> DEED OF TR4JST
<br /> Loan No: 70003950 (Gontinuesl) Pa e 5
<br /> 9
<br /> insecurity. Lender in good faith believes itselfi 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 promiss�ory 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 actio�n is commenced to foreclose any existing lien on the Property.
<br /> Right to Cure_ Pf any default, other than a default in payment is curable and if Trustor has u�ot been given a notice
<br /> of a breach of the same provision of this Deed of Trust within the preceding twelve (1 Z) months, it may be cured if
<br /> Trustor, after Lender sends written notice to Trustor demanding cure ofi such default: (1) cures the default within
<br /> twenty (20) days; or (2) if the cure requires more than twenty (20) days, immediately i�ni�tiates steps which
<br /> Lender deems in Lender's sole discretion �Eo be sufficient To cure the default and thereafter continues and
<br /> completes all reasonable and necessary steps sufficient to produce cornpliance as soon as reasonably practical.
<br /> ftIGHTS AND REMEDIES ON DEFAULT. if an Event of Default occurs under this Deed ofi Trust, at any time thereafiter,
<br /> Trustee or Lender may exercise any one or more ofi the fiollowing rights and remedies:
<br /> Acceleration Upon Default; Additional Remedies. If any Eveni 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, protest or notice of any
<br /> kind. Thereafter, Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceedi�ng, or by a receiver
<br /> appoi:nted by a court and without regard to the adequacy of i:ts security, enter upon and take possession
<br /> of the Property, or any part thereofi, 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 Properry, or part of
<br /> the Property or inYerest 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 of the Property, including those past due and unpaid, and� apply the same, less
<br /> costs and expenses of operation and collection a'ttorneys' fees,to a�.ny 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 collectio�n of such rents,. issues and profits, and the application thereof shall not cure or
<br /> waive any default or noti�.ce of default under this Deed of T�ust or invalidate any act done in response to
<br /> sucn default or pursuant to such notice of defauft; and, notwithstanding the continuance in possession�o(
<br /> the Property or the collection, receipt and application ofi rents, issues or profits, Trustee or Lender shall
<br /> be entitled to exercise every ri:ght provided fior in the Note or tfie Related Documents or by iaw upon the
<br /> � occurrence of any event of defiaulti, induding the right to exercise the power of saY�e•
<br /> (b) Commence an action to foreclose this Deed ofi Trust as a mortgage, appoint a receiver or specifically
<br /> enforce any of the covenants hereof; and
<br /> (c) Deliver fo Trustee a written declaration of default and demand for sale and a written notice of defiault
<br /> and election to cause Trustor's i.nterest in the Property to be sold, which notice Trustee shall cause to be
<br /> duly filed for record in the appropriate offices of tne County in.which the Property is located- and
<br /> (d) WiYh respect to all or any part of the Personal Property, Lender shall have all the rights and remedies
<br /> of a secured party under the Nebraska Uniform Commercial Code.
<br /> Foreclosure 6y Power of Sale. If Lender elects to fioreclose by exercise ofi the Power of Sale herein.contained,
<br /> Lender shall notify Toustee and shall deposiY with Trustee this Deed ofi Trust and the Note and such receipts
<br /> and evidence ofi expenditures made and secured by this Deed of Trust as Trustee may require.
<br /> (a) Upon receipt of such notice firom Lender,Trusiee shall cause to be recorded, published and delivered
<br /> to Trustor sucn Notice of Defiault and Notice of Sale as then required by law and by this Deed ofi Trust.
<br /> Trustee shall, witnout demand on Trustor, after such time as may then be required by faw and after
<br /> recordation ofi sucn Notice of Default and after Notice of Sale having been given as required by law, sell
<br /> the Property at tne time and place ofi sale fixed by ii 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 time
<br /> ofi sale.. Trustee shall deliver to such purchaser or purchasers thereof its good and sufifiicient deed or
<br /> deeds conveying the property so sold, but without any covenant or warranty, express or implied. The
<br /> re�citals in such deed of any matters or facYs shall be conclusive proof of the fruthfulness tnereof. Any
<br /> person,induding without Iimitation Trustor,Trustee, or Lender, may purchase at sucn sale.
<br /> (b? As may be permitted by law, after deducting alf costs, fees and expenses of Trustee and oT this
<br /> Trust, induding costs of evid.ence of title Fn�connection with safe,Trustee snall apply the proceeds of s�ale
<br /> to payment ofi (i) all sums expended under the terms ofi this Deed of Trust or under the terms of the Note
<br /> not then repaid, including but not iimited to accrued interest and late charges., (ii) a!! other sums then
<br /> secured hereby,and (iii) the remainder, ifi any,to the person or persons legally entitied Yhereto.
<br /> (c) Trus#ee may in the manner provided by law postpone sale ofi all or any porti:on of the Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of tnem, shall be entitled to enforce payment and
<br /> performance ofi any indebtedness or obligations secured by this Deed ofi Trust and to exercise all rights and powers
<br /> under this Deed of Trust, under the Note, under any ofi tne Related Documents,. or under any oiher agreement or
<br /> any laws now or hereafter in force; notwithsta�nding, some or all ofi such indebtedness and obligations secured by
<br /> this Deed of Trust may now or hereaf[er be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br /> assjgnment or otherwise. Neither the acceptance ofi this Deed of Trust nor its enfiorcement, wheiher by court
<br /> action or pursuanY to the power ofi sale or oiher powers contained in this Deed of Trust; snall prejudice or in any
<br /> manner afifect Trustee's or Lender's right to realize upon or enforce any other security now or nereafter held by
<br /> Trustee or Lender, it being agreed that Trustee a��nd Lender,and each ofi them,shall be entitled to enfiorce this Deed
<br /> of Trust and any other securiYy now or hereafter held by Lender or Trustee on such order and manner as they or
<br /> either of them may in their absolute discretion determine. IVo remedy conferred upon or reserved to Trustee or
<br /> Lender, is intended Eo be exclusive ofi any other remedy in this Deed of Trust or by law provided or permitted, but
<br /> each shall be cumulative and shall be. in add�iti�on 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 rernedy given by the Note or any of the Related
<br /> Documents to Trustee or Lender or to which either of them�. may be otherwise entitfed, may be exercised,
<br /> concurtently or independently, from time to time and as often as may be deemed expedieM by Trustee or Lender,
<br /> and either of them may pursue inconsistent rernedies. Nothing in tnis Deed of Trust shall be construed as
<br /> prohibiting Lender from seeking a def�ciency judgment against the Trustor to the extent such action is permiYted 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. If Lender decides to spend money or to perform any of Trustor's obligations under this Deed of Trust,
<br /> a'Fter Trustor's failure Yo do so, that decision by Lender will not affect Lender's right to declare Trustor in defiault
<br /> and to exercise Lender's remedies.
<br /> Request for Notice_ Trustor, on behalfi of Trustor and Lender, hereby requests that a c6py of any Nofice of�efault
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