|
� 201209915
<br /> DEED OF TRUSl"
<br /> Loan No: 173051732 (Continued� 1'age 5
<br /> dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> Right to Cure. If any default,other than a default in payment is curable and if Trustor has not been given a notice
<br /> of a breach of ihe same prevision of this Deed ot Trust�vithin the preceding twelve(1 2)months,it may be cured if
<br /> Trustor,after l�ender sends written notice to Trustor demanding cure of such default: (t) cures the defaWt within
<br /> iweniy (20) days; or (2� if the cure requires more than twenty (20) days, immediately initiaTes steps �vhich
<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 sufricient Co produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT, If an Event of�efault 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 remediesi�
<br /> AcceleraYion Upon Default;Additional Remedies, If any Event oF�efiault 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 payabie without any presentment,demand,protest or notice of any
<br /> kind. Thereafter,Lencier may:
<br /> (a) �ither in person or by agent, with or withput bringing any action or proceeding, or by a receiver
<br /> appointed by a court and wiihout regard to the adequacy of its security,enter upon and take possession
<br /> of ihe Property,or any part thereof,in its owr name or in the name of Trustee,ar=d do any acts�vhich it
<br /> deems necessary or desirable to preserve ihe value,markeiability or rentability of the Property,or part o(
<br /> the Property or interest in the PropeRy;increase the income from the Property or protect the security of
<br /> the Property; and, with or without takinq possession of the Property, sue for or otnerwise collect ttie
<br /> rents, issues and profiYs of�ihe Property, including those past due and unpaid, and apply the same,less
<br /> costs and expenses of operation and collection attomeys'fees,to any indebtedness secured by this Deed
<br /> of Trust, allin such ordar as Lender may determine. The cntering upon and taking possession of the
<br /> Property, the collection of such rents, issues and profiYs, and the application thereof shall not cure or
<br /> waive any default or notice of default under Yhis Deed of Trust or invalidate any act done in response to
<br /> such default or pursuant to such notice of default;and,notv�ithstanding the continuance 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 laov upon the
<br /> occurrence of any event of default,including the right to exercise the power of saie;
<br /> (b) Commenc�an action to foreclose�this Deed of Trusz as a mortgac�e,apUoint a receiver or specifically
<br /> eniorce any of the covenants hereof;and
<br /> (cl Deliver to Trustee a wriften declarefion oT default and demand for sale ancl a written notice of default
<br /> and election to cause Trustor's interest in the Property to be sold,which notice Trustee shall cause to be
<br /> duly filed for record in rhe appropriate offices of the County in which the Property is located;and
<br /> (d) With respect to all or any part of the Personal Property, Lcnder shall have all the rights and remedies
<br /> of a secured party under the Nebraslca Uniform Commercial Code.
<br /> Foreciosure by Power of Sale. If Lender elecxs to foreclose by exercise of the Power of Sale herein contained,
<br /> Lender shall notify Trustee and shall deposit wiYh Trustee this Deed of Trust and the Note and such receipts
<br /> and evidence of expendifures made and secured by fhis Deed of Trust as Trustec may reyuire..
<br /> fai Upon receipt of such notice from Lender,Trustee shall cause to be recorded,pubfished 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 'ny law and after
<br /> recordation of such Notice of Default and after Notice of Sale havi�g been given as required by IaNi,sell
<br /> the Property a[the time and place of saie fixed by it in such Notice of Safe, ei�ther as a whoie, or ir
<br /> separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may deYermine,
<br /> at public auc[ion to the highest bidder for cash in lawful money of the United S�tates payable at the time
<br /> of sale. Trustee shall d0liver to such purchaser or purchasers ihereof its good and sufficieM deed or
<br /> deeds conveying tl�e property so sold, but without any covenant or warranty, express or implied. 7he
<br /> recitals in such deed of any matters or facts shall 6e conclusive proof of the truchfulness thereof. Any
<br /> person,including without limitation Trustor,Trustee,or Lender,may purchase at such sale�.
<br /> (b1 As may he permitted by law, aFter deducting all costs, fees and expenses of Trustee and of ihis
<br /> Trust,including costs of evidence of title in connection with sale;Trustee shall apply[he proceeds of sale
<br /> ta payment of (i)all sums expended under the terms of this Deed of Trust or under the ierms of the Note
<br /> not then repaid,including but not limited to accrued interest and late charges, (ii) all other sums then
<br /> secured hereby,and (iiij the remainder,ifi any,to the person or persons legally enfitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedies Not Exclusive. ?rustee and Lender, and eacli of ihem, shall be entitled to enforce payment and
<br /> performance of any indebtedness or o6ligations secured by this Deed of Trust and to exercisz all rights and powers
<br /> under this Deed of Trust,under the Note,under any of the Related Documents,or under any other agreement cr
<br /> any Iaws now or hereafter in force; notwithstanding,some or all of such intlebtedness and obligations secured by
<br /> this Deed of Trust may now or hereafter be otherwise secured,evhether by morigage,deed of trust,pledge, lien,
<br /> assignment or otherwise. Neiiher the acceptance of 2his Deed of Trust nor its enforcement, whether 6y court
<br /> action or pursuant to the power of sale or other powers contained in this Deed of Trust,shalf prejudice or in any
<br /> manner affect Trustee's or Lender's right to realize upon or en(orce 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 entitled to enforoe this Deed
<br /> qf 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 tf�eir absolute diseretion determine. No remedy eonferred upon or reserved to Trustee or
<br /> Lender,is intended to be exclusive�of any other remedy in th�is Deed o�Trust or by law provided or permitted,but
<br /> each shal! be cumulativc and shail be in addition io every other remedy given in this Deed of Trust or now or
<br /> hereafter existing at law or in equity or by statute, cvery power or remedy given by the Note or any of the Related
<br /> Documents to Trustee or Lender or to whicl� either of them may be otherwise entitled, may �e exercised,
<br /> concurrently or independently,from time to time and as often as may be deemed expedienf by�i�ustee or Lender,
<br /> and either of them may pursue inconsistent remedies. Nothing in ttiis Deed of Trust shall be construed as
<br /> prohfbiting Lender from seeking a deficiency judgmenY against the Trustor to the extent such action is permit[ed by
<br /> law.
<br /> Election of Remedies. All of Lender's rights. and remedies will be cumuiative 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 Trustor's failure to do so,that decision by Lender will not affect Lender's right to dedare Trustor in default
<br /> and to exercise Lender's remedies.
<br /> Request fior Notice. Trustor,on behalf of Trustor and Lender,ii.ereby requests that a copy of any Notice of Default
<br /> and a copy of any Notice of Sale under this Deed of Trust be mailed to them at the addresses set`orth in the first
<br /> paragra�h of tF�is Deed of Trust.
<br />
|