|
��15�45US
<br /> DEED �F TRLJST
<br /> ���r�t[t�ue�1} page 6
<br /> RIGHT�AND REMEDIES �]hl DEFAULT. If an Event o�Default accurs under this ❑��d af Trust, a�any t�me thereafter,
<br /> Trust�e or Lender may exercise any one ar mare of the f��lowing rights and remedies:
<br /> Accelerat�on Upon ❑efault; Additianal Remedies. ff any E�en�vf D��au�t occurs as per the terms of the Credi�
<br /> Agreement secured h�reby, Lender may dec�are all lndebtedness secured by this Deed ❑f Trust�o be due and
<br /> payabie and�he same shail �hereupon becom�due and payable withaut any pres�ntmer,�, demand, prates�or
<br /> no��c�of any kind. Thereaft�r, Lende�may:
<br /> �a} Either in person�or hy agent, with or wifhout brEng�ng any a�tian o� pro�eed'€ng, ar by a receiver
<br /> appain�ed by a �our# and without regard to the adequacy of its security, �nt�r upon and take possession
<br /> ��the Property, or any part the�eaf, in i�s awn name or in the name o�Trustee,and do any a��s which it
<br /> - de�ms necessary or des�rable t❑ pres�rve th��aiu�, marketability or r�n�abifity of th� Praperty,or par�v�
<br /> the Property or interest in �he Property; incr�a�e the income from the Property or pratect the securi�y of
<br /> the Praperty; and, with o�- wi#hau� taking pvssession of �he Prope�ty� 5u� for ar o�herwise �allect �he
<br /> rents, issues and pro�its of the Property, including thos� past due and unpaid, and apply#h� same, less
<br /> casts and expenses of vpera�ian and collectian attarneys'fees,to any indeb#edness secu��d by#his Deed �
<br /> o�Trust, a(I in such orde� as Lender may de�ermine. The enfering upon and �aking possession of the
<br /> Prop�r�y, the ��Ile��ion ❑f such rents, issu�s and pr��its, and the application thereof shal! not cure or
<br /> wai�e �ny d�faul�or�notice of default under this D�ed o�Trus#❑r in�a�idate any a��done �n response to
<br /> such d�fau�t or pursuant tv such noti�e a�f default; and, natwithstanding the continuance in passession of
<br /> the P�-ope�ty ar the cafle��ion, receipt and app�ication ofi rents, issues or prafts, Trustee or Lender shall
<br /> be en�itled #a exer�ise e�ery righ# pro�ided�ar�n the Credi�Agreement ar fhe Related Documents or by
<br /> law upon th�:o�cur�ence of any e�ent a�defaul�,inc�uding the�-ig���o exe�cise the pvwer of sale;
<br /> �h} Cammence an action to f�reclase this Deed o€Tru�t as a rnortgage,appaint a re�e�ver or specifically
<br /> enforce any of�he covenan#s hereaf;and
<br /> {c} De�iv�r tQ Trustee a wr�t�en d�cfaratian of de�auit and demand far sale and a wri��en noti�e af defauit
<br /> and election to cause T�ustor's interes�in the Property to be sold,whi�h notice Trustee sh�fl cause to be
<br /> duly f�ed�or re�ord in the appropriate offices af the Caunty in whi�h the Property is located; and
<br /> �d} W�th respec��o all or any part o�the Personal Proper�y, Lender shall ha�e alf the rights and remed�es
<br /> of a s�Gured par�y under the Nebraska Uniform�ommercial Cod�.
<br /> Fareclasure t�y Pow�r o�Sale. If Lender elects�o fvreclose by exerc�se of the Power of Saie herein cont�ined,
<br /> Lender shall n�fiify Trustee and shall deposit w�th Truste� this Deed af Trust and the Gr�dit Agreement and
<br /> such receip�s and e�idence of�xp�nditures made and secur�d by this❑eed of Trust as Trustee may require.
<br /> �a} Upon receipt�f such no�i��fr�m Lender, Trustee shall cause to be re�orded, puhlished and d��ivered
<br /> to Trus#�r such Na�ice of Defauit and Notic� o�5a�e as then requir�d by law and by fihis De�d of Trust.
<br /> Trus�ee shall, withou� demand ❑n Trustor, after such time as may then be r�equired by law and after
<br /> recordation a�such Na�ice a�D�fault and afi�er N�tiee of Sale ha�ing been gi�en as required by law, se[1
<br /> the Prope�ty at the time and place af saie fixe� by i# in such Notice of Sale, either as a who�e, or� �n
<br /> separate lots�r parGels or items as Trus#ee shail deem expedien#, and in such order as i�may determine,
<br /> at public auction to the highest bidder�for cash in !a►nr�ul money �f the Uni�ed States payahle at�he time
<br /> o� sale. T�usf�e shall deli�er to such purchas�r or purchas�rs thereaf i�s g�od and sufficien# deed or
<br /> deeds conveying the property s� safd, �ut withou� �ny co�enant or warranty, express or implied. The
<br /> recitals in such deed of any matters ar fac�s shall be concIusi�e proof of the firuth�ulness thereaf. Any
<br /> person, €nc�uding without limitation Trustor,Trus��e,ar Lender,may purchase a�su�h sale.
<br /> �b} As may be permitted by law, after deducting all costs, fees and expenses af T�us#ee and af th�s
<br /> Trust, including costs af e��dence af title in connectian with sale,Trusfiee sha�l apply the praceeds of sale
<br /> to paymer�t o� �i} al� sums expended under the t�rms of this Qeed of Trusf or under the terms of the
<br /> �redit Agreement nat then repa�d, €ncluding but not limi�ed to a�crue�l interest and late charges, �ii} all
<br /> other sums then secured hereby, and ���i}the rernainder, if any, to#he pers�n or persons I�gaily�nti��ed
<br /> there�o.
<br /> �c} Trustee may�n�he manner pro�id�d by law postpane sale�f al!ar any po�ian o�the Properk�.
<br /> Remedies No� Exclusi�e, Trus#ee and Lender, and each of them, sha�l be entitled to enforce payrnertt and �
<br /> p�rfarman�e o�any indeb�edness Qr obligatians secured by this Deed of Trus#and ta exer�ise all rights and powers
<br /> under this Deed of Trust, under the Gr�dit Agreemen#, unde�any of the Related Documents, or under any ofher
<br /> � agreemen� a� any laws now or herea�te�- in forG�; nQtwithstanding, same or all o# such indeb#edness and
<br /> ahligations secu�ed by this Deed of Trus�may novv or hereafter be o�herwise secu�-ed, whether by mor�gage, deed
<br /> c�f trusfi, pledge, l�en, assignmen#or ath�rvv�se. Ne�ther the a�ceptan�e af this Deed of Trust nar its enfarcement,
<br /> vvhether by caur� a��ion flr pursuant to the power of sale ar o#her powers contained in this D�ed of Trust, shall
<br /> prejudice or in any manner a�fe�t Trust�e's or Lender's right to realize upon or enforce any other security now o�
<br /> hereafte�held!�y Trustee or Lender, it being agreed'�hat Trus�ee and Lende�-,and each��f�hem,shall b� entitled ta
<br /> enfarce �his De�d of Trust an� any other security now or h�r�after hefd by Lender or Trustee €n such �rder and
<br /> manner as they or either o� them may in their �bso�u�e discretian determine, Na remedy �onferred upan or
<br /> reserved to Trustee ar Lender, is �ntended to be exc�usive o€any ather remedy in this D�ed a�Trus� or by law
<br /> pravided or permitted, but each shal� be cumuiat��e and shafl be in addition to e�ery other remedy gi�en in this
<br />
|