|
201500967
<br /> DEED OF TRUST
<br /> Loan Na: 872059959 ',(Continued] Page 5
<br /> (b} Commence an action to foreclose this �eed of�rust as a mortgage, appoint a receiver or specifically
<br /> enforee any of the covenants hereof;;and
<br /> {c) Deliver to Trustee a written decleration of defau[t and demand for se[e and a writYen notice of default
<br /> and election to cause Trustor's inter'est in the Properry to be sold, which notice Trustee shaEl cause to be
<br /> du[y filed for record in the appropriate offices of the Coun#y in which the Property is located; and
<br /> Id] With respect to all or any part ot the Persanal Properry, Lender shall have al1 the rights and remedies
<br /> of a secured party under the Ne6raska Elniform Commercial Code.
<br /> Foreclosure by Power of Sale. I€Lender elects to foreclose by exercise of the Power of 5ale herein contained,
<br /> �ender shall notify Trustee ancf shall dep�,osit with 7rustee this Deed of 7rus# and the Credit Agreement and
<br /> such receipts and evic[enee of expenditures made and secured by#his Deed of Trust as Trustee may require.
<br /> (a) Upon receipt of such notice,frorr� Lender,Trustee shall cause to be recarded, published and delivered
<br /> to Trustor suCh Notice of Default and f�otice of 5ale as then required by law and by this Deed of Trust.
<br /> Trustee shal[, without demand on Trvstor, after sucf� time as may then be required by law and after
<br /> recordation of such �[otice of Defau]'t and after Notice of Sale having been given as required by law, sell
<br /> ths Property at the time and plaee !of sale fixed by it in sucF� Notice of 5ale, either as a whole, or in
<br /> separate lats or parcels or items as Trustee shalE deem expedient, and in such order as it may determine,
<br /> at public auction to the highest bidder for cash in lawful money of ihe United States payable at the time
<br /> of sale. Trustee shall deliver to such purchaser ar purchasers thereof its good and sufficient deed or
<br /> deeds conveying The property So sold, but without any covenant or warranty, express or imp[ied. The
<br /> recitals in such deed of any mattersl or facts shal] be conclusive proof of the truthfulness thereof. Any
<br /> person, including without limitation Trusior,Trustee,or Lender, may purchase at such sale.
<br /> [b} As may �e permitted by law, after deductirtg al[ costs, fees and expenses of Trustee and of t[�is
<br /> Trust, including CoStS of evidence of�,tiEle in connection wEth sale,Trustee shall apply the proceeds af sale
<br /> to payment of (i) a�l sums expended under the terms of #his Deed of Trust or undar the terms of the
<br /> Credit Agreement not then repaid, imcluding but nat limited to accrued interest and late chsrges, {ii] alE
<br /> other sums then secured hereby, and [iii) the remainder, if any, to the person or persons legally entitled
<br /> thereto. ,
<br /> [c} Trustee may in the manner provided by law postpone sale af all or any portion of the Property.
<br /> Fterrtedies iVot Exclusive. Trustee and Lendier, and each of them, sha�l be entitled ta enforce payment and
<br /> performanes of any indebtedness or obliga'tions secured by this Deed of Trust and to exercise al] rights and powers
<br /> under this Deed of Trust, under the Credit Agreerrtent, under any of the Related Documents, or �nder any other
<br /> agreement or any laws now or hereafter in force; notwithstanding, some or aEl of s�ch indebtedness and
<br /> obligations secured by this Deed of Trust may�i now or hereafter be atherwise secured, whether by mortgage, deed
<br /> o�trust, pledge, lier�, assignment or otherwise. Neither the acceptance of this Deed of Trust nor i#s enforcement,
<br /> whether by court action or pursuant to the power of sale or other powers cantained in this Deed of Trust, shall
<br /> preje�dice or in any manner affect Trustee's ori Lender's right to realize upon or enforce any other security now or
<br /> hereaf[er held by 7rustee or Lender, it being agreed that Trustee and Lender, and each of them, shall be entit[ed to
<br /> enforce this Deed af Trust and any otf�er security now or hereafter helc! by Lender or Trustee in such order and
<br /> mans�ar as they or either of them may in tEisir absolute discretion determine. No remedy conferred upon or
<br /> reserved to Trustes or Lender, is intended to'6e exclusive of any other remedy in this Deed of Trust or by law
<br /> provided or permitted, but each shall be cum�ulative and shall be in addition tn every other remedy gi�en in this
<br /> Deed of Trust or now or hereafter existing aT]aw or in equi'ry or by statute. E�ery power or remedy given by the
<br /> Credit Agreement ar any of the Related Documents to Trustee or Lender or to which either of them may 6e
<br /> otherwise entitled, may be exercised, concur�ent[y or independenily, fram time to time and as often as may be
<br /> deemed expedient by Trustee or �ender, end�lieither of them may pursue inconsistent remedies. Nothing in this
<br /> Deed of 7rust sha[I be canstrued as prohibiting Lender from seeking a de�riciency judgment against the Trustor to
<br /> the extent such action is permitted by]aw. ',
<br /> Election af Remedies. All of Lender's rightsi and remedies wi][ be cume�lative and may be exercised a]orse or
<br /> togethes. If Lender decides to spenti money or to perform any of Trustor's obligations under this Deed of 7rust,
<br /> after Trustor's fai3ure to do so, that decision by Lender will not affect Lender's right ta declare Trus#or in default
<br /> and to exercise Lender's remedies.
<br /> Request for Notice. 7rustor, on behalf of'Trustor and Lender, hereby requests that a copy of any No#ice of Default
<br /> and a copy of any Notice of Sale under this Deed of 7rust be mailed to them at the addresses set forth in tf�e first
<br /> paragraph af this Deed of Trust.
<br /> Attomeys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of
<br /> Trust, Lender shaA be entitled #o reco�er such!�sum as the court may adjudge reasonab[e as attorneys' fees at tria]
<br /> and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, al]
<br /> reasonable expenses Lender incurs Yhat in Lender's opinion are necessary at any time for the protection of its
<br /> interest or the enforcement of its rights shall Eiecoma a part of the Indebtedness payab[e on demand and shall bear
<br /> interesE at the Credit Agreement rate from the date of the expenditure until repaid. Expenses covered 6y this
<br /> paragraph include, withaut limitation, however subject to any limits under applicable law, Lender's attorneys' fees
<br /> and Lender's legal expenses, whether or not there is a lawsuit, inc[uding attorneys' fees and expenses for
<br /> bankruptcy proceedings [including efforts to modify or vacate any automatic stay or injunction}, appeals, and any
<br /> anticipated post-judgment collection services�', the cost of searching records, obtaining title reports (including
<br /> foreciosure reportsh, surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee, to Yhe extent
<br /> permitted by applicable [aw. Trustos also will pay any court costs, in addition to ali other sums provided by law.
<br /> fiights of Trustee. Trustee shall have all of the righYs and duties of Lender as set forth in this section.
<br /> PaWERS AND QBLIGATIONS dF TRUSTEE. The foAowing provisions relating to the powers and ob[igations of Trustee
<br /> are part of Yhis Deed of TrusF: I
<br /> Powers of Trustee. In addition to all powers of Trustee arising as a matter of law,TrusYee shall have the power to
<br /> take the fo[lowing actions with respect to t[�e�iProperty upon the writte� reqvest of Lender and Trustor: {a} join in
<br /> preparing and filing a rnap or plat of the Real Property, including the dedication o# streets ar other rights to the
<br /> public; (b1 join in granting any easement or�lcreating any restriction on the Rea[ Property; and (c} join in any
<br /> subordination or oYher agreement affecting this I]eed of TrusY or the inierest of Lender ur�der tF�is Deed of Trust.
<br /> Trustee. Trustee shal] meet al[ qualifications required for Trustee under applicab[e law. ln addition to the rights
<br /> and remedies seY €orth above, with respec# to all or any part of the Property, the Trustee sha][ have the rig�t to
<br /> forec€ose by notice and sale, and Lender will'�have the right to foreclose by judicial #orec[osure, in either case in
<br /> accordance with and to the full extent pravided by applicable Eaw.
<br /> Successar Trustee. Lender, at�ender's option, may from time to time appoint a successor 7rus#ee to any Trustee
<br /> appointed under this Deed of Trust by an insirument executed and acknow�edged by Lender and recarded in the
<br /> office of the recorder of HALL County, State�of Nebraska. The instrument sha[I contain, in addition to al[ other
<br /> matters required by state law, the names of the original Lender, Trustee, and Trustor, the book and page {or
<br /> computer system reference] where this Deed'of Trust is recorded, and the name and address of the successar
<br />
|