|
201500966
<br /> DEED OF TRUST
<br /> Loar� No: 10012605 (COrl'�i11Ued) Page 5
<br /> Existing [ndebtedness. The payment o#any installment of prineipal or any interest on the Existing Indebtedness is
<br /> not made within the time required by the promissory note e�idenoing such indebtedness, or a default occurs under
<br /> the i�strument securing such indebtedness and is not cured dur9ng any applicable grace period in such instrument,
<br /> or any suit or other action is commenced to foreclose any existing lien on the Property.
<br /> Right to Cure. If any default, other than a default in payment is curable and if Trustor has not been gi�en a natice
<br /> ofi a breach of the same pro�ision of this Deed a#Trust within the preced[ng twelve (121 months, it may be cured if
<br /> Trustor, aiter Lender sends written notice to Trustor demanding cure ofi such default: (1) cures the de�rau[i wit[�in
<br /> twenty (2D} days; or (2f if the Cure reqvires more than twenty [20f days, immediately iroitiates steps which
<br /> Lender deems in Lendar's sole discretion to be sufficient to cure the default and thereafter continues and
<br /> completes a[I reasonable and necessary steps sufficient to produce correplianCe as Soon as reasonabiy practical.
<br /> R1GF[�S ANb RFJVIEDIES ON DEFAULT. If an Event of Default occe�rs under this Deed of Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the foElowing rights and remedies:
<br /> Acceleration Upon Default;Adtlitiana[ Remedies. If any Event of Default oCCurs as per the terms of the Note
<br /> secured hereby, Lender may declare a[I Indebtedness secured by this Deed af Trust to be due and payab[e and
<br /> the same shal[tihereupon become due and payabfe without any presentment, demand, pro#est or notice of any
<br /> kind. ThereafEer, Lender may:
<br /> {a) Either in person or by agent, with ar 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 upan and take possession
<br /> of the Property, or any part thereof, in its awn name or in the name of Trustee, and do any acts which it
<br /> deems necessary os desirable to preserve the value, mar[cetabi{ity or rentability of the Property, ar part of
<br /> the Property or interest in the Praperty; increase the inCome from the Properry or protect the security of
<br /> the Praperty; and, with or without taking possessian o# tf�e Property, sue far or otherwise collec# the
<br /> rents, iss�es and profits of the Property, including those past due and unpaid, and apply the same, ]ess
<br /> costs and expenses of operation and coltection attorneys' fees,to any indebiedness secured by this Deed
<br /> of Trust, al[ in such order as Lender mey determine. The entering upon and 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 defau]t; and, notwithstanding the continuance in possession of
<br /> the Property or the callection, receipt and appfication of rents, issues or profits, Trustee or Lender shall
<br /> be eniitled to sxercise every right provided for in the Note or the Related Documents or by law vpon the
<br /> occurrsnce of any event of default, including the righ�to axercise The power ofi sa[e;
<br /> Ib1 Commence an action to foreclase this Deed af Trust as a mortgage, appoint a receiver or specifically
<br /> enforce any of the oovenants hereof; and
<br /> {c) 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, wf�ich notiCe Trustee sha11 cause to be
<br /> duly filed for record in the appropriate offices of t[�e Go�nty in which the Praperty is located; and
<br /> !d1 With respect to al] or any part of the Personal Property, Lendar shall have all the rights and remedies
<br /> of a secured party under the Nebraska Uniform Comrr�ercial Code.
<br /> Foraclosure by Pvwer of SaEe. [f Lender elects to foreclase by exercise of the Power of 5ale herein contained,
<br /> Lender sha[I notiFy Trustee and shal[ deposit with Trustee titis Deed of Trust and the Note and such receipts
<br /> and evidence of expenditures made and secured by this Deed of 3�rust as Trustee may require.
<br /> (a] Upan receipt of such notice from Lender, Trustee shafl cause tp be recordec€, pu6lished and delivered
<br /> to 7rustor such Notice of Default and Notice of Sale as then required by law and by this Deed of Trust.
<br /> Trustee shall, witf�out demand on Trustor, after such time as may then be required by law and after
<br /> recordation of such Notice of Default and after Notics of 5ale having been given as required by law, se[I
<br /> the Property at the time and place of sale fixed by it in such Notice of Sale, either as a whoEe, or in
<br /> separate [ots or parcels or items as Trus#ee shall deem expedient, and in suc[� order as it may de#ermine,
<br /> at public auction to the highest bidder for cash in lawful money of the United States payable at the time
<br /> of safe. Trustee shaEl deliver to such purchaser or purchasers #hereof its good and sufficient deed or
<br /> deeds conveying the property so sold, but without any covenant or warranty, express or impGed. The
<br /> recitals in se�ch deed o€ any matters or facts shall �a conclusi�e proof of the Yruthfulness thereof. Any
<br /> person, inc�uding without[imitation Trustor, 7rustee, or Lender, may purchase at such sa[e.
<br /> {b} As may be perrriitted 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 shalf apply the prpceeds of sale
<br /> to payrrient of fi} aCl sums expended under the terrris of this �eed of Trust or under the terms of the Note
<br /> not then repaid, including but not ]imited to aecrued interesF and late charges, (ii} a[I other sums then
<br /> secured hereby, and ;iii}the remainder, i€any,to the person or persons]egal[y entitled thereto.
<br /> {c} Trus#ee may in the manner provided 6y law postpone sale of al[or any portian of the Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, sha11 be entitled to enforce payment and
<br /> performance of any indebtedness or abligations secured 6y this Deed of TrusE and to exercise al] rigf�ts and powers
<br /> under this Deed of Trust, under the Noie, under any of the Re[ated Documents, or under any other agreement or
<br /> any ]aws now or hereafter in force; natwithstanding, some or al] of such inde�Otedness and obfigations secured by
<br /> xhis Deed of Trust may now or hereaf-ter be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br /> assignment or otherwise. Neither the accepEance af this Deed of Trust nor its enforcement, whether by courf
<br /> action or pursuant ta the power of sale or other powers contained in this Deed af Trust, shall prejudice or in any
<br /> manner affec# Trustee's or Lender's right to realize upon or enforce any other security now or hereafter held by
<br /> Trusiee or Lender, it being agreed that Trustee and Lender, and each of them, shal] be entitled to enforce xhis Deed
<br /> of Trust and ar�y oiher security now or E�erea�iter helcE by Lender ar Trustee in such order and manner as they ar
<br /> either of them may in their absolute discretion determine. No rernedy conferred upon or reserved to Tretstee or
<br /> Lender, is 9ntended to be exclusive of any other remedy in this �eed of Trust or by faw provided or permitted, but
<br /> each shall be cumuEative and shalf be in addition to every other remedy given in this Deed of Tr�st or now ar
<br /> hereafter exisiing at[aw or in equity or 6y statute. Every power or remedy given by the Note or any of the Related
<br /> Documents ta Trustee or Lender or to which either of them may �e otherwise entitled, may be exercised,
<br /> concurrently ar independe�tly, from time to time and as ofiten as may be deemed expedient by Trvstee or Lender,
<br /> and either of thern may pursve inconsistent rerrEed'ies. Nothing in this Deed of Trust shal] be construed as
<br /> prohibiting E.ender from see[cing a deficiency judgment against the Trustor to the extent such action is permitted by
<br /> law,
<br /> Election of Remedies. A[I of Lender's rights and remedies wiil be cumularive and may be exercised a[one or
<br /> together. ]f Lender decides to spend money or to perform any of Trustor's obligations under this Deed of Trust,
<br /> a�Fter Trustor's failure to do so, that decision by Lender will not affect Lender's right to dec[are 7rustor in default
<br /> and to exercise Lender's remedies.
<br /> Request for Notice. Trustor, on behaif of Treastor and Lender, hereby requests that a copy of any Notice o#Defau[t
<br /> and a copy of any f�[otice of 5ale under this Deed of Trust be mailed to them at the addresses set forth in Yhe first
<br /> paragraph of this aeed of TrusC.
<br />
|