|
201503711
<br />Default and after Notice of Sale having been given as required by law, sell the Trust
<br />Estate at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or
<br />in separate lots or parcels or items as Trustee shall deem expedient, and in such order as
<br />it may determine, at public auction to the highest bidder for cash, in lawful money of the
<br />United States, payable at the time of sale. Trustee shall deliver to such purchaser or
<br />purchasers thereof, its good and sufficient deed or deeds, conveying the property so sold,
<br />but without any covenant or warranty, express or implied. The recitals in such deed of
<br />any matters or facts shall be conclusive proof of the truthfulness thereof. Any person,
<br />including, without limitation, Trustee, and Beneficiaries, may purchase at such sale, and
<br />hereby covenant to warrant and defend the title of such purchaser or purchasers.
<br />(b) As may be permitted by law, after deducting all costs, fees, expenses of
<br />Trustee and of this Trust, including costs of evidence of title in connection with sale,
<br />Trustee shall apply the proceeds of sale to payment of (i) all sums expended under the
<br />terms hereof, not then repaid, with accrued interest at three (3 %) percent per annum, (ii)
<br />all other sums then secured hereby, and (iii) the remainder, if any, to the person or
<br />persons legally entitled thereto.
<br />(c) Trustee may, in the manner provided by law, postpone sale of all or any
<br />portion of the Trust Estate.
<br />12. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiaries, and each of them,
<br />shall be entitled to enforce payment and performance of any indebtedness or obligations
<br />secured hereby and to exercise all rights and powers under this Deed of Trust or under
<br />any Loan Instrument or other agreement or any laws now or hereafter in force,
<br />notwithstanding some or all of the such indebtedness and obligations secured hereby
<br />may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge,
<br />lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its
<br />enforcement whether by court action or pursuant to the power of sale or other powers
<br />herein contained, shall prejudice or in any manner affect Trustee's or Beneficiaries' right
<br />to realize upon or enforce any other security now or hereafter held by Trustee or
<br />Beneficiaries, it being agreed that Trustee and Beneficiaries, and each of them, shall be
<br />entitled to enforce this Deed of Trust and any other security now or hereafter held by
<br />Beneficiaries or Trustee, in such order and manner as they or either of them may in their
<br />absolute discretion determine. No remedy herein conferred upon or reserved to Trustee
<br />or Beneficiaries is intended to be exclusive of any other remedy herein or by law provided
<br />or permitted, but each shall be cumulative and shall be in addition to every other remedy
<br />given hereunder or now or hereafter existing at law or in equity or by Statute. Every
<br />power or remedy given by any of the Loan Instruments to Trustee or Beneficiaries or to
<br />which either of them may be otherwise entitled, may be exercised, concurrently or
<br />independently, from time to time, and as often as may be deemed expedient by Trustee
<br />or Beneficiaries; and either of them may pursue inconsistent remedies. Nothing herein
<br />shall be construed as prohibiting Beneficiaries from seeking a deficiency judgment
<br />against the to the extent such action is permitted by law.
<br />13. REQUEST FOR NOTICE. Trustor hereby request a copy of any notice of
<br />default, and that any notice of sale hereunder be mailed to them at the address set forth
<br />in the first paragraph of this Deed of Trust.
<br />14. GOVERNING LAW. This Deed of Trust shall be governed by the laws of the
<br />State of Nebraska. In the event that any provision or clause of any of the Loan
<br />Instruments conflicts with applicable laws, such conflicts shall not affect other provisions
<br />of such Loan Instruments which can be given effect without the conflicting provisions; and
<br />to this end, the provisions of the Loan Instruments are declared to be severable. This
<br />instrument cannot be waived, changed, discharged, or terminated orally, but only by an
<br />instrument in writing signed by the party against whom enforcement of any waiver,
<br />change, discharge or termination is sought.
<br />15. RECONVEYANCE BY TRUSTEE. Upon written request of Beneficiaries
<br />stating that all sums secured hereby have been paid, and upon surrender of this Deed of
<br />Trust and the Note to Trustee for cancellation and retention and upon payment by Trustor
<br />of Trustee's fees, Trustee shall reconvey to, or the person or persons legally entitled
<br />4
<br />
|