|
20 402263
<br />provided in the note(s) or credit agreement(s) and Beneficiary may immediately authorize Trustee to
<br />exercise the Power of Sale granted herein in the manner provided in the Nebraska Trust Deeds Act, or, at
<br />the option of the Beneficiary, may foreclose the Trust Deed in the manner provided by law for the
<br />foreclosure of mortgages on real property, including the appointment of a Receiver upon ex parte
<br />application, notice being hereby expressly waived, without regard to the value of the property or the
<br />sufficiency thereof to discharge the indebtedness secured hereby or in the loan agreement(s). Delay by
<br />Beneficiary in exercising its rights upon default will not be construed as a waiver thereof and any act of
<br />Beneficiary waiving any specified default will not be construed as a waiver of any future default. If the
<br />proceeds under such sale or foreclosure are insufficient to pay the total indebtedness secured hereby,
<br />Trustor(s) do hereby agree to be personally bound to pay the unpaid balance, and Beneficiary will be
<br />entitled to a deficiency judgment.
<br />8. Should Beneficiary elect to exercise the Power of Sale granted herein, Beneficiary will notify Trustee
<br />who will record, publish, and deliver to Trustor(s) such Notice of Default and Notice of Sale as then
<br />required by law and will in the manner provided by law, sell the property at the time and place of sale
<br />fixed in the Notice of Sale, either as a whole or in separate lots, parcels, or items and in such order as
<br />Trustee will deem expedient. Any person may bid at the sale including Trustor(s), Trustee, or Beneficiary.
<br />9. Trustor(s) hereby requests a copy of any Notice of Default or Notice of Sale hereunder to be mailed
<br />by certified mail to Trustor(s) at the address(es) set forth herein.
<br />10. Upon default, Beneficiary, either in person or by agent, with or without bringing any action or
<br />proceeding and with or without regard to the value of the property or the sufficiency thereof to discharge
<br />the indebtedness secured hereby, is authorized and entitled to enter upon and take possession of the
<br />property in its own name or in the name of the Trustee and do any acts or expend any sums it deems
<br />necessary or desirable to protect or preserve the value of the property or any interest therein, or increase
<br />the income therefrom; and with or without taking possession of the property is authorized to sue for or
<br />otherwise collect the rents, issues, crops, profits, and income thereof, including those past due and
<br />unpaid, and apply the same upon any indebtedness secured hereby or in the loan agreement(s).
<br />No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any
<br />other remedy herein or by law provided or permitted, but each will be cumulative, will be in addition to
<br />every other remedy given hereunder or now or hereafter existing at law or in equity or by statute, and may
<br />be exercised concurrently, independently or successively.
<br />11. Trustor(s) acknowledges that the duties and obligations of Trustee will be determined solely by the
<br />express provisions of this Trust Deed or the Nebraska Trust Deeds Act and Trustee will not be liable
<br />except for the performance of such duties and obligations as are specifically set forth therein, and no
<br />implied covenants or obligations will be imposed upon Trustee; Trustee will not be liable for any action by
<br />it in good faith and reasonably believed by it to be authorized or within the discretion or rights of powers
<br />conferred upon it by this Trust Deed or state law.
<br />12. The integrity and responsibility of Trustor(s) constitutes a part of the consideration for the obligations
<br />secured hereby. Should Trustor(s) sell, transfer, or convey the property described herein, without prior
<br />written consent of Beneficiary, Beneficiary, at its option, may declare the entire indebtedness immediately
<br />due and payable and may proceed in the enforcement of its rights as on any other default.
<br />13. That Trustor(s) is, and shall continue to be, duly organized, validly existing and legally qualified to do
<br />business under the laws of the states in which Trustor(s) operates, in compliance with federal, state and
<br />local laws or regulations, and has legal authority in such states to conduct Trustor(s) business operations
<br />and to own agricultural real estate. No change has been made in the name, ownership, control,
<br />relationship, legal status or organizational and formation documents of any undersigned Trustor(s) since
<br />the time any such information was last provided to Beneficiary.
<br />14. That if Trustor(s), or anyone signing this Trust Deed, is a limited liability company, that those signing
<br />on behalf of said limited liability company constitute a majority of the managers or members thereof, and
<br />that the execution of this Trust Deed is in the ordinary course of the limited liability company's business
<br />and has been authorized by its members.
<br />15. Assignment of Rents including Proceeds of Mineral Leases. Trustor(s) hereby assigns, transfers,
<br />and conveys to Beneficiary all rents, royalties, bonuses, and delay moneys or other proceeds that may
<br />
|