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04-004 ® us bancorp 2013 (rev. 1.1 - 05/2014) Page 5
<br />201405963
<br />Beneficiary's own name, give receipts and releases therefor, and after deducting all expenses of
<br />collection, including reasonable attorneys' fees, apply the net proceeds thereof to any Obligations as
<br />Beneficiary may elect;
<br />(ii) make, modify, enforce, cancel or accept surrender of any leases, evict tenants, adjust Rents,
<br />maintain, decorate, refurbish, repair, clean, and make space ready for renting, and otherwise do anything
<br />Beneficiary reasonably deems advisable in connection with the Mortgaged Property;
<br />(iii) apply the Rents so collected to the operation and management of the Mortgaged Property, including
<br />the payment of reasonable management, brokerage and attorneys' fees, or to the Obligations; and
<br />(iv) require Trustor to transfer and deliver possession of all security deposits and records thereof to
<br />Beneficiary.
<br />(b) Power of Sale. Beneficiary may require Trustee, and Trustee is hereby authorized and empowered, to
<br />enter and take possession of the Premises and to sell all or part of the Mortgaged Property in accordance with
<br />the Nebraska Trust Deeds Act, as the same may be hereafter amended or modified. Trustee may sell all or any
<br />portion of the Mortgaged Property, together or in lots or parcels, and may execute and deliver to the purchaser
<br />or purchasers of such property a conveyance in fee simple. Trustee shall receive the proceeds thereof and,
<br />subject to the requirements of the Nebraska Trust Deeds Act, shall apply the same as follows: (a) first, the
<br />payment of the expenses of making, maintaining and executing this trust, protection of the Mortgaged
<br />Property, including the expense of any litigation and reasonable attorneys' fees, and reasonable compensation
<br />to Trustee; (b) second, to any advancements made by Trustee or Beneficiary pursuant hereto, with interest
<br />thereon; (c) third, to the payment of the Obligations herein secured or intended so to be, in such order as
<br />Beneficiary shall elect, and any balance of said Obligations may be the subject of immediate suit; (d) and,
<br />fourth, should there by any surplus, Trustee will pay it to Trustor, or to such person as may be legally entitled
<br />thereto. The sale or sales by Trustee of less than the whole of the Mortgaged Property shall not exhaust the
<br />power of sale herein granted, and Trustee is specifically empowered to make successive sale or sales under
<br />such power until the whole of the Mortgaged Property shall be sold; and if the proceeds of such sale or sales of
<br />less than the whole of the Premises shall be less than the aggregate of the Obligations and the expenses thereof,
<br />the Deed of Trust and the lien, security interest and assignment hereof shall remain in full force and effect as to
<br />the unsold portion of the Mortgaged Property; provided, however, that Trustor shall never have any right to
<br />require the sale or sales of less than the whole of the Mortgaged Property, but Beneficiary shall have the right
<br />at its sole election, to request Trustee to sell less than the whole of the Mortgaged Property. Beneficiary may
<br />bid and become the purchaser of all or any part of the Mortgaged Property at any such sale, and the amount of
<br />Beneficiary's successful bid may be credited on the Obligations.
<br />(c) Judicial and Other Relief. Beneficiary or Trustee may proceed by a suit or suits in equity or at law,
<br />whether for the specific performance of any covenant or agreement herein contained or in aid of the execution
<br />of any power herein granted, or for any foreclosure hereunder or for the sale of the Mortgaged Property under
<br />the judgment or decree of any court or courts of competent jurisdiction.
<br />(d) Entry on Premises; Tenancy at Will.
<br />(i) Beneficiary may enter into and upon and take possession of all or any part of the Mortgaged Property,
<br />and may exclude Trustor, and all persons claiming under Trustor, and its agents or servants, wholly or
<br />partly therefrom; and, holding the same, Beneficiary may use, administer, manage, operate, and control
<br />the Mortgaged Property and may exercise all rights and powers of Trustor in the name, place and stead of
<br />Trustor, or otherwise, as Beneficiary shall deem best; and in the exercise of any of the foregoing rights
<br />and powers Beneficiary shall not be liable to Trustor for any loss or damage thereby sustained unless due
<br />solely to the willful misconduct or gross negligence of Beneficiary.
<br />(ii) In the event of a trustee's or other foreclosure sale hereunder and if at the time of such sale Trustor or
<br />any other party (other than a tenant under a Lease as to which Beneficiary shall have expressly
<br />subordinated the lien of the Deed of Trust as hereinabove set out) occupies the portion of the Mortgaged
<br />Property so sold or any part thereof, such occupant shall immediately become the tenant of the purchaser
<br />at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of such purchaser,
<br />at a reasonable rental per day based upon the value of the portion of the Premises so occupied (but not
<br />less than any rental theretofore paid by such tenant, computed on a daily basis). An action of forcible
<br />detainer shall lie if any such tenant holds over a demand in writing for possession of such portion of the
<br />Premises.
<br />219648, vers. 2
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