|
201302663
<br /> DEED OF TRUST
<br /> {Continued) Page 5
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor,endorser,surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor.endorser, surety,or accommodation party
<br /> dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the
<br /> prospect of payment or performance of the Indebtedness is impaired,
<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 bean given a notice
<br /> of a breach of the same provision of this Deed of Trust within the preceding twelve 1121 months,it may be cured if
<br /> Trustor,after Lender sends written notice to Trustor demanding cure of such default: Ill cures the default within
<br /> twenty 1201 days; or 12) if the cure requires more than twenty 120) days, immediately initiates steps which
<br /> Lender deems in Lender's sole discretion to he sufficient to cure the default and thereafter Corttinues 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 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 occurs as per the terms of the Note
<br /> secured hereby,Lender may declare all Indebtedness secured by this Dead 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 /> lal 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 end 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 Progeny 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 attorneys'fees,to any indebtedness secured by this Deed
<br /> of Trust, all in such order as Lander may determine, The entering upon end 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 invalidate any act done in response to
<br /> such default or pursuant to such notice of default;and,notwithstanding the continuance in possession of
<br /> the Property or the collection,receipt and application of rents, issues or profita,Trustee or Lender shall
<br /> be entitled to exercise every right provided for In the Note or the Related Documents or by law upon the
<br /> occurrence of any event of default,including the right to exercise the power of sale;
<br /> Ili Commence 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 /> lc/ 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 interest in the Property to be sold,which notice Trustee shall Cause to be
<br /> duly filed for record in the appropriate offices of the County in which the Property is 100ated;and
<br /> Id) With respect to all or any part of the Personal Property,Lander shall have all the rights and remedies
<br /> of a secured party under the Nebraska 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 /> (al 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 Property at the time and place of sale fixed by it in such Notice of Sale,either as a whole, or in
<br /> separate Iota 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 /> of sale. Trustee shall deliver to such purchaser or purchasers thereof 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 conclusive proof of the truthfulness thereof. Any
<br /> person,Including without limitation Trustor,Trustee,or Lender,may purchase at such sale,
<br /> Ibi 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 the proceeds of sale
<br /> to payment of (i)all sums expended under the terms of this Deed of Trust or under the terms of the Note
<br /> not then repaid, including but not limited to accrued interest and late charges, Oil all other sums then
<br /> secured hereby,and Iiiii the remainder,if any,to the person or persons legally entitled thereto,
<br /> Icl Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedies Not Exclusive, Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> performance of any indebtedness or obligations 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 under any other agreement or
<br /> any laws now or hereafter In force;notwithstanding,some or all of such indebtedness and obligations secured by
<br /> this Deed of Trust may now or hereafter be otherwise secured,whether by mortgage,deed of trust,pledge,lien,
<br /> assignment or otherwise. Neither the acceptance of this 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 effect 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 entitled to enforce this Deed
<br /> of 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 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 be 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 of 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. Election by Lender to pursue any remedy shell not exclude pursuit of any Other remedy,and an election to
<br /> make expenditures or to take action to perform an obligation of Trustor under this Deed of Trust,after Trustor's
<br /> failure to perform,shall not affect Lender's right to declare a default and exercise Its remedies.
<br /> Request for Notice. Trustor,on behalf of Trustor and Lender,hereby requests that a copy of any Notice of Default
<br />
|