|
201208583
<br /> DEED OF TRt1ST
<br /> Loan No_ 10004'i31 (Contitlued)
<br /> Page v
<br /> ReghY to Cure. lf any default, other Than a detault in payment is curable and if Trustor has not been given a noti�ce
<br /> of a breach of the same provision of ihis Deed of Trust withi�the preceding twelvE (12) months, it may be cured if
<br /> Trustor, after Lender sends written notice to Borrower demanding cure of such default: (I) cures the default
<br /> within*wenty (20) days; or (2) ifi the cure requires more xhan twenty (20) days, immeciiately initiates steps which
<br /> Lender deems in Lender's soie discretion to be sufficient to cure ihe defiauk and thereafiter continues and
<br /> completes all reasonable and necessary steps sufificient to ptoduce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event ofi Defiault occurs under this Deed of Trust, 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 accurs as pee the terms of Yhe Note
<br /> secured hereby, Lender may declare al�l Indebtedness secured by this Deed of Trust io 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 proceeding, or by a receiver
<br /> appointed by a court and without regard �to the adequacy of its security,. enter upon and�take. possessiort
<br /> af the Property, or any par2 thereof, in its own name or in the name of Trustee, and do any acts which it
<br /> deems necessary or desiraole to preserve the vaiue, marketability or rentabiiity of the Property, or part of
<br /> the Property or interest in the Property; increase ihe income from tfie Property or protect the security af
<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 expens�es of operation and collection attorneys' fees, to any indebtedness secured by this Deed
<br /> ofi Trust, all in such order as Lender may determ.ine. 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 ofi default under this Deed of Trust or invalida[e any act done in response io
<br /> such default or pursuant to such notice of default; �nd, notwithstanding the continuance in possession of
<br /> ihe Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall
<br /> be entitled to exercise 2very right provided fior in the Note or tne Related Documents or by law u.pon the
<br /> occurre�ce of any event of default, including the right to exercise the power ofi sale;
<br /> (6) Commence an action to foreclose fhis Deed of Trust as a morigage, appoint a receiver or specificaily
<br /> enfo�rce any of the covenants hereof; and
<br /> (c) Deliver to Trustee a written dedaration 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, whi�ch notice Trustee shall cause to be
<br /> duly filed for record in the appropriate offices of ihe County in.which the Property is located; and
<br /> (d) With respect to all or any part of fhe Personal Property, Lender shall have all the rights and remedies
<br /> of a secured party under the Nebraska Uniform �ommercial Code.
<br /> Foreclosure by Power of Sale_ If Lender elects to foredose by exercise of the Power of Sale herein contained,
<br /> Lender shall notifiy Trustee and shall deposit with Trustee this Daed of Trust and the Note and such receipts
<br /> . and evidence ofi expenditures made and secured by this Deed ofi Trust as Trustee may require.
<br /> (ai Upon receipt of such notice from Lender, Trustee shall cause to be recorded, pubfished and delFvered
<br /> � to Trustor such Notice of Defauft and Notice ofi Sale as then required by law and by this Deeu' of Trust.
<br /> Trustee shall, without demand on Trustor, after such tirne as may tfien be required by law anci after
<br /> recordation of such Notice of Defiault and after Notice of Sale having been given as requiied by law, seii
<br /> the Property at the time and place of sale fixed by it in such Notice of Sale, either as a wfiole, or in
<br /> separaie lots or parcels or items as Trustee shall deem expedient, and in such order as it may determine,
<br /> ai public auction to the highest bidder for cash in lawful money of the United States payable at the time
<br /> of sale. Trustee shatl deiiver to such purchaser or pu�chasers 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 /> rec:itals in such deed of any matters or facts shall. be concFusive proof of the truthfulness thereof_ Any
<br /> person, inclutling withou�t limitation Trustor,Truste�e, or Lender, may purchase at such.sale.
<br /> (b) As may be permi22ed by law, after deducting a❑ costs, fees and expenses of Trustee and of this
<br /> Trust, induding costs of evidence ofi title i.n connection with sale,Trustee shall apply Che proceeds of sale
<br /> Yo payment of (i} all sums expended under the terms of this Deed of Trust or under tne terms of the Note
<br /> not then repai�, inciuding bui not limited to accrued interest anci lat� charges, (ii) all other sums then
<br /> secured hereby, and (iii)the remainder, if any,�o the person oe persons iegally entitled tF�ereta.
<br /> ic) Trc�.stee snay�in tfhe manner provSded by faw postpone sale ofi ai!or any portion of the Property.
<br /> Remedies IVot Excfusive_ Trusiee and Lender, and each of them, shalf be entitied to enfiorce payrnent and�
<br /> performance of any indebtedness or obiigations secured by this Deed of Trust and to exercise all rights and powers
<br /> under this Deed of Trust, under the Note, under any of the Related Documents, or und�.er any other agreement or
<br /> any laws now or hereafiter in force; notwithstanding, some or all of such indebtedness and obligati��ons secured by
<br /> this Deed of Trust may now or hereafter be otiherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br /> assignment or otherwise. Neither the acce�ptance of this Deed of Trust nor its enfiorcement, whether by court
<br /> action or pursuant to the power oF sale or other powers coniained in this Deed of Trust, shall prejudice or in any
<br /> manner affect Trustee's or Lender's right to realize upon or enforce any other security now or hereafter held by
<br /> Trustee or Lender, it being agreed that Trustee and Lender, and each of them, shall be entiiled to enforce this Deed
<br /> of Trust and any other security now or hereafter held by Lender or Trustee in sucn order and manner as they or
<br /> either of them may in their absolute d�scretion deYermine. No remedy conferred upon or reserved to Trustee or
<br /> Lender, is intended to be exclusive �f any other remedy in this Deed of Trust or by law provided or permitted, but
<br /> each sfnall be cumulative and shall be in addition to every other remedy giren in this Deed ofi Trust or now or
<br /> hereafter existing at iaw or in equity or by statute_ Every�ower or remedy given by the Note or any of the Related
<br /> Documents to Trustee or Lender or to whi:ch eiiher of tnem may be otherwise entitled, may be exercised,
<br /> concurrently or inde�endently, firom time to time and as often as may be deemed expedient by Trustee or Lencier,
<br /> and either of them may pursue inconsistent remedies. Nothing in this Deed of Trust shall be construed as
<br /> prohibiting Lencler from seeking a cieficiency judgment against the Trustor to ti�e extent such action is permitted by
<br /> law.
<br /> Election of Remedies. All ofi Lender's rights and remedies will 6e cumulative and may be exercised alone or
<br /> together. If Lender decides to spend money or to perform any of Trustor's obfigations under this Deed of Trust,
<br /> after Trustor's failure to do so, that decision by Lender wiil not affiect Lender's right to declare Trustor in default
<br /> and to exercise Lender s remedies.
<br /> Fiequest for Notice_ TrusYor, an behalf ofi'f-.rustor and Lender, hereby requests that a copy of any Notice of Default
<br /> and a copy of any Notice oi'Safe under this Deed of Trust be mailed to thern at Lhe addresses set forth irn the first
<br /> parayraph of this Deed of Trust.
<br /> Attorneys° Fees; Expenses. If Lender institutes any suit or ac[ion to enforce any vf 'Che terms of this Deed. o#
<br /> �rust, Lender shali be entitled to recover such sum as the court may a�judge reasonable as attorneys' fees at trial
<br /> an@ upon any appeal. Whether or not any court action is involved, and to tne extent not prohibited by law, all
<br /> reasonable expenses Lender incurs that in Lender's opinion are necessary ac any time fior Yhe protecYion ofi its
<br />
|