201210417 - Laserfiche WebLink

Browse

201210417 Section 13. Recognition of Third -Party Beneficiaries. The Grantor expressly recognizes that the Lender is a third party creditor - beneficiary of this Deed of Trust. Section 14. Assignment of Authority's Rights. As additional security for the Bond, the Authority has assigned, transferred, pledged and granted a security interest in its rights, title and interest in the Bond under the Loan Agreement (except for certain fees and rights to indemnification as set forth in the Loan Agreement) and this Deed of Trust to the Lender. The Lender is hereby given the right to enforce, either jointly with the Deed Trustee or separately, the performance of the obligations of the Grantor under the Loan Agreement, and the Grantor hereby consents to the same and agrees that the Lender may enforce such rights as provided in the Loan Agreement and the Grantor will make payments required by the Loan Agreement directly to the Lender. This Deed of Trust recognizes that the Lender is a third party creditor - beneficiary hereof. Section 15. Waiver of Stay, Execution or Redemption Laws. The Grantor agrees that upon and after any Event of Default, neither the Grantor nor anyone claiming through or under it will set -up, claim or seek to take advantage of any stay, extension, redemption laws, redemption periods or grace periods now or hereafter in force and affecting the Property in order to prevent or hinder enforcement, foreclosure, sale, confirmation of sale, or conveyance of the Property upon foreclosure or the fmal and absolute putting in possession thereof immediately after any such sale of the purchaser or purchasers thereat, and the Grantor hereby waives the benefit of all such laws. Section 16. Obligations Effective upon Filing. The several obligations of the Grantor hereunder shall arise absolutely and unconditionally upon filing this Deed of Trust in the Office of the Register of Deeds of The County of Hall County, Nebraska. Section 17. Notices. It shall be sufficient service of any notice, request, complaint, demand or other paper required by this Deed of Trust to be given to or filed with the Authority, the Grantor or the Lender if the same is given or filed in the manner and at the addresses specified in Section 10.03 of the Loan Agreement. Additionally, the Deed Trustee may be served with any of the foregoing at the following address: Five Points Bank, 2015 N. Broadwell Avenue, Grand Island, NE 68803; telephone (308) 384 -5550; facsimile (308) 384 -1073. Section 18. Amendments, Changes and Modifications. This Deed of Trust may not be effectively amended, changed, modified, altered or terminated, except as provided herein and in the Borrower Documents. (a) Amendments without Consent of Registered Owner. Without the consent of the registered owner of the Bond, the Grantor and the Deed Trustee may from time to time enter into one or more amendments to this Deed of Trust, for any of the following purposes: (1) to correct or amplify at any time the description of any Property of the Grantor or to subject to the Deed of Trust additional property or to substitute property as provided in this Deed of Trust, or add additional property thereto; (2) to add to the conditions, limitations and restrictions on the terms or purposes of this Deed of Trust, as herein set forth, additional conditions, limitations and restrictions thereafter to be observed;