201307953 - Laserfiche WebLink

Browse

201307953 • Property ID 847 Property Address 960 Allen Drive Grand Island, NE 68803 Beneficiary; or (iii) be a representation or warranty of any kind regarding the Property (including its condition or value or compliance with any laws) or the Environmental Report (including its accuracy or completeness). In the event Beneficiary has a duty or obligation under applicable laws, regulations or other requirements to disclose an Environmental Report to Trustor or any other party, Trustor authorizes Beneficiary to make such a disclosure. Beneficiary may also disclose an Environmental Report to any regulatory authority, and to any other parties as necessary or appropriate in Beneficiary's judgment. Trustor further understands and agrees that any Environmental Report or other information regarding a site visit, observation or testing that is disclosed to Trustor by Beneficiary or its agents and representatives is to be evaluated (including any reporting or other disclosure obligations of Trustor) by Trustor without advice or assistance from Beneficiary. 6. ACCELERATING TRANSFERS. DEFAULT AND REMEDIES. 6.1 Accelerating Transfers. (a) "Accelerating Transfer" means any sale, contract to sell, conveyance, lien, encumbrance, or other transfer, whether voluntary, involuntary, by operation of law or otherwise, of all or any material part of the Property or any interest in it, including any transfer or exercise of any right to drill for or to extract any water (other than for Trustor's own use), oil, gas or other hydrocarbon substances or any mineral of any kind on or under the surface of the Property. "Accelerating Transfer" also means withdrawal or removal of any managing member,termination of the limited liability company or any transfer or transfers o£ in the aggregate, more than ten percent (10%) of the voting power or in the aggregate more than ten percent (10%) of the ownership of the economic interest in the Trustor. (b) Trustor agrees that Trustor shall not make any Accelerating Transfer, unless the transfer is preceded by Beneficiary's express written consent to the particular transaction and transferee. Beneficiary may withhold such consent in its sole discretion. If any Accelerating Transfer occurs; Beneficiary in its sole discretion may declare all of the Secured Obligations to be immediately due and payable, and Beneficiary and Trustee may invoke any rights and remedies provided by Paragraph 6.3 of this Deed of Trust. 6.2 Events of Default. The occurrence of any one or more of the following events, at the option of Beneficiary, shall constitute an event of default("Event of Default") under this Deed of Trust: (a) The Obligors fail to make any payment, when due, under any of the Debt Instruments, or any other default occurs under and as defined in the Debt Instruments or in any other instrument or agreement evidencing any of the Secured Obligations; (b) Trustor fails to make any payment or perform any obligation which arises under this Deed of Trust; (c) Trustor makes or permits the occurrence of an Accelerating Transfer in violation of Paragraph 6.1; (d) Any representation or warranty made in connection with this Deed of Trust or the Secured Obligations proves to have been false or misleading in any material respect when made; Deed of TrustCFT Developments.NE#847 Page 11