|
201400240
<br /> DEED OF TRUST
<br /> Loan No: 10008537 (Con#inued} Page 5
<br /> the instrument securing such indebtedness and is not cured during any applicable qrace period in such instrument,
<br /> or any suit or ather action is commenced to foreclose any existing lien on t[�e Property.
<br /> Right to Cure. Ef any default, other than a default in payment is curable and if Trus#or has not been given a notice
<br /> of a breach of the same provision of this Deed af Trust within the preceding twelve I12} months, it may be cured if
<br /> Trustor, after Lender sends written notice to Trustor demanding cure of such default: {1) cures the default within
<br /> tvuenty {20] days; or (2} if the cure requires more than twenty (20] days, immediately initiates steps which
<br /> Lender deems in Lender's sala discretion to he sufficient to c�re Yhe default and thereafter continues and
<br /> completes a11 reasona6le and necessary steps sufficient to produce compliance as saan as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAUlT. [f an Event of befau[t occurs uncler this Deed of Trust, a#any time thereafter,
<br /> 3rustee or Lender may exercise any one or more of the fol[owing rights and remedies:
<br /> Acceleration Upon Default;Additional Remedies. [f any Event of Defau[#occurs as per the terms of Ehe Note
<br /> secured hereby, Lender may dedare all Indeb#edness secured by this Deed of Trust to be due and paya6le and
<br /> the same shal!thereupon become due and payabEe withaut any presentment, demand, protest or noEice of any
<br /> kind. Thereafter, Lender may:
<br /> {a} Either in person or by agent, wiih or witf�out bringing any action or proceeding, or by a receiver
<br /> appointed by a court and without regard to the adeq�acy of its security, enter upon and take possession
<br /> of the Property, or any part thereof, in its own name Or i�the name of Trustee, and do any acts which it
<br /> deems necessary or desirable ta preserve the�alue, marketa6ility or renta6ility af the Property, or part o�F
<br /> the Praperty or interest in tf�e Property; increase the income from the Property or protect the security of
<br /> the Properry; and, with ar without taking possession of the Property, sue for or atherwisa co][ect the
<br /> rents, issues and profits of tf�e Property, including those past due and unpaid, and apply the same, ]ess
<br /> Cos'Cs and expenses of aperation and col[ectian attorneys' fees,ta any indebtedness secured by this Deed
<br /> of Trust, al[ in such order as Lender may determine. The en�ering upon and taking possession of the
<br /> Property, Yhe col�ecTion of such rents, issues and profits, and the application thereof shal! not cure or
<br /> waive any default or noYice of default under this �eed of Trusi or invalidate any act done in response to
<br /> such default or pursvant to such notice of defauft; and, notwithstanding the continuance in possession of
<br /> the Property or the col[ection, 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 bocuments or by law upon the
<br /> occurrence of any event o€defau[t, including the right to exercise the power of sale;
<br /> fb] Commence an action ta foreclose this Deed of Trust as a mortgage, appain€a receiver or specifically
<br /> enforce any of#he covenants hereof; and
<br /> (c1 Deliver to Trustee a written declaration of default and demand for sale and a written notice of default
<br /> and e[ection to cause Trustor's interest ir�the Property to be sold, which notice Trustee shall cause ta be
<br /> duly fi[ed for recard in the appropriate offices af the County in which the Property is located; and
<br /> (d) With respect to a[I or any part of the Parsonal Praperty, Lender sha][ have all the r9ghEs and remedies
<br /> of a secured party under the f�ebrasfca Uniform Commercia[ Code.
<br /> Forec�osure by Powar of Sale. lf Lender elects to foreclose by exercise of the Power of Sa[e herein contained,
<br /> Lender shalE notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and sucf� receipts
<br /> and evidence of expenditures made and secured by this �eed of Trust as Trustee may require.
<br /> {a} Upon receipt of such notice fram Lender, Trustee shal[ cause to be recorded, published and defivered
<br /> to Trustor sucf� Notice of Default and Notica of Sale as then required by law and 6y this Deed of Trust.
<br /> Trustee sha[I, without demand on Trustor, after such time as may then be required by [ew and after
<br /> recordation of such Notice of Default and after NoYice of Sa[e having been given as required by law, sell
<br /> the Property at the time and place of sale fixed by it in svch Notice of Safe, either as a whole, or in
<br /> separate lots or parcels or items as Trustee sha[I deem expedient, and in such order as it may determine,
<br /> at public auctian to the highest bidder far cash in lawful money of the United States payab[e at the time
<br /> of sale. Trustee shail deliver to sucF� purchaser or purchasers thereof its goad and sufficient deed ar
<br /> deeds conveying ihe property so sald, but without any co�enant or warranty, express or implied. The
<br /> recitals in such deed of any matters or facts shail be conclusive proof o�F the truthfulness #hereof. Any
<br /> person, including without limitation Trustor, Trustee, or Lender, may purchase at such sa�e.
<br /> {b} As may be perrnitted by law, aiter deducting all costs, fees and expenses afi Trustee and of this
<br /> Trust, including costs of evidence of title in connection with sale,Trustee shall apply the prpceeds of sale
<br /> to payment of fi} a[I sums expended under Yhe terms of this Deed of Trust or�nder the tarms of the Note
<br /> not then repaid, including but not fimited to accrued in#erest and ]ate charges, (ii) aA other sums then
<br /> secured hereby, and (iii] #he remainder, if�ny,to the persan or persons Eegally entitled thereto.
<br /> (c] Trustee may in the manner provided by law postpone sale of all ar any portion of the I'roperty.
<br /> Remedies Nat Exc[usi�e. Trustee and Lender, and each oF them, shall 6e entitled to enforce payment and
<br /> performance of any indebtedness or obligations secured by this I�eed of Trust and to exercise a][ rights and powers
<br /> under this Deed of Trust, under the [Vote, under a�y of the Related Documents, ar under any other agreement or
<br /> any laws now or hereafter in farce; notwithstanding, some or a!I of s�ch indebtedness and ol�ligations secured by
<br /> this Dead of Trust may now or hereafter be otherwise secured, whether by mortgage, daed ofi trust, pledge, lien,
<br /> assignment or otherwise. Ne9t.her the acceptance of this �eed of Trust nor its enforcement, whether by court
<br /> action or pursuant to t[�e power of sale or other powers contained in this Deed of Trust, shall prejudice ar in any
<br /> manner affect Trustee's or Lender's righE to realize upon or enforce any other security naw ar hereafter he[d 6y
<br /> Trustee or Lender, it baing agreed that Trustee and Lender, and eacf�of them, shaEl be entitled to enforce this Deed
<br /> of Trust and any ot�ter security npw 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 otf�er remedy in this Deed of Trust or by law provided or permitted, but
<br /> each shaEl be cume�lative 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 6y the Note or any ofi the RelaYed
<br /> Documents to Trustee or Lender or to which eixher of them may be otherwise entitled, may be exercised,
<br /> concurrently or independently, �rom time to time and as often as may be deemed expedient by Trustee or Lender,
<br /> and either of them may pursue inconsistent remedies. �[othing in this Deed of 7rust shall be construed as
<br /> prahibiting Lender from seeking a deficiency judgment against the Trustor to the extent such action is permitted by
<br /> law.
<br /> Election of Remedies. All of Lender's rights and remedies wilf 6e cumulative and rnay be exercised a]one or
<br /> together. Ifi Lender deeides to spend money or to perform any of Trustar's obligations under this Deed of Trust,
<br /> after Trustor's faifure to do so, that decision by Lender wil] not affect Lender's right to declare Trustor in default
<br /> and to exercise Lender's remedies.
<br /> Request for Notice. Trustor, on behalfi o�Trustor and Lender, hereby requests that a copy of any Notice of Default
<br /> and a copy of any Notice af Sale under this Deed of 7rust be mailed ta them at the addresses set forth in the first
<br /> paragrap[�of this Deed of Trust.
<br /> At#orneys' Fees; Expenses. lf Lender institutes any suit or action to enforce any of the terms of this Deed of
<br />
|