|
�
<br /> �� ��15�58��
<br /> 4
<br /> Trus��e Wi�� deem expe�ient. Any person may bid �� �h� sale including Trustor�s}, Trus�ee, ar
<br /> Benefici�ry.
<br /> 9, Trustar�s} he�eby requesfs a copy a�any Notice a�Qefault or Nat�ce of Sale hereunde�ta be mailed
<br /> by cerkified mai!�o Trusf�r�s}at fhe address�es} set farth herein.
<br /> '��, Up�n defauC�, Beneficrary, ��ther in person or by agent, vtiri�h vr wi�hou� bringing any ac�ion or
<br /> proceeding and wi�h or withou�regard ta fhe value o�fhe property or fhe sufiFicien�y thereaf fo discharge
<br /> the �ndeb�e�ness secured hereby, is aufihori�ed and entit�ed to en��r up�n and �ake posses�ian �f�h�
<br /> property in ifis own name or in th� name of the Tr-us�e� and do any ac�s �r e�cpend any sums if deems
<br /> necessary vr �esirab[e �� prote�� or pres�rve fhe value of �he p�aperty or any interes� �herein, ar
<br /> increase �he income �h�refrom; and wi#h or v�rithout taking p�ssession �f fhe property is au�horized tv
<br /> sue far or atherwise callect �he �en�s, issues, craps, prvfits, and incvme �hereof, rncluding �hvse pas�
<br /> due and unpaid, and apply the same upon any �ndebtedn�ss secured h�T�by or in �he Iaan
<br /> agreemen��s}.
<br /> N� remedy herein c�nferred upon �� r�served �o Trustee ar Beneficia�y is intended �o be exclusi�e of
<br /> any afiher remedy herein a�by law p�ovided ar permitf�d, but�ach will be cumulative, wil� be in add"r�ian
<br /> ta e�ery a�her remedy given hereund�r or naw ar hereafter existing at law vr in e�ui�y or by sta�u#e, an�
<br /> may be exer�ised �oncurren�ly, �ndependen�[y�r successi��ly.
<br /> 11, Trus��r�s� acknavvledges�hat th�du�i�s and ❑bliga�ions a�Trus�ee vtiri�l be determined so[ely by�he
<br /> e�press provisions o��his Trust Deed or the Nebraska Trusf Deeds Act and Trustee wili not be fEabie
<br /> except f�r the performan�e af such dufies and vb�igations as are specifica[ly set farth therein, and no
<br /> impRied co�enan�s �r nb�igati�ns wi[[ be irnp�sed upon Trustee; Trustee wilC nat b� liable f�r any act�on
<br /> by i� Rn good fa��h and reasonably �elieved by i� ta b� autharized or within �he discre�i�n or righfis �f
<br /> powe�s can�er�ed upon �� by fhis Trus�Deed �r sta�e [aw.
<br /> '12. The integrity and �esponsibili�y of Trustor�s} cons�i�u�es a park af the c�n�idera�ian far the
<br /> obiigatEans secured her�by. Should T�usfor�s} sell, �ransfe�, or c�nvey the praperty described herein,
<br /> wi�hau� priar wriit�n c�ns�n� a� Benefciary, Bene�ic�ary, a� i�s op�ian, may dec�are the en�ire
<br /> indeb�edness immedia�ely due and payable and may pro�eed �n �he enfor�ement of ifs ��ghfs as on any
<br /> other d efa�u It.
<br /> '�3. Tha�Trustar�s� is, and sha[I c�n�inu�ta b�, duly organi�ed, va[�diy existing and legally qualified fo
<br /> do busrness under fhe lav�rs of the s�a�es in which Trusfor�s} opera�es, in campliance wifih �ederal, sta#�
<br /> and local faws �� regulations, and has legal autharity in such sta�es �o �onduc� Trus�or�s} business
<br /> operations and �o own agricultural real es�ate. No change has been made in the name, ownersh'rp,
<br /> controi, relationship, lega� sta�us �r organiza�iona[ and �ormation documen�s of any undersigned
<br /> Trus�ar�s� since the time any such informa�ion was las�pravrded f� Beneficiary.
<br /> 14. Tha� if Trus�or[s}, or anyane s�gning �his Trus� Deed, is a limi��d liabr�i�y company, �hat fhose
<br /> signing ❑n beha�f �� said limited Iiability company cons�i�u�e a majarify of the managers or members
<br /> ther�of, and �hat the e�ecutian of �his Trust Deed is in the ordinary course of fihe Iimited liabif�ty
<br /> campany's business and has been authorized by its members.
<br /> 1�� Assignment of Renfs �ncluding Pr�ceeds o� M�neral Leases. Trusfi�r{s} hereby assrgns, firansfers,
<br /> and can�reys �o Bene�f�ciary all renfs, roya��ies, b�nus�s, and delay moneys or a�her proceeds �hat may
<br /> from time to time b�cam� due and paya�le unde� any rea� estate lease ar under any ail, gas, gravel,
<br /> rock, or o�her mineraC lease of any kind including gea�hermai resvurces naw exis�ing ar fihat rnay
<br /> hereaf�er come info exisf�nce, ca�ering the praperty or any part ther�of. A[I such sums sv r�ceived by
<br /> geneficiary wi�l be applied tv th� indebtedness secured hereby; �r Bene�iciary, at i�s option, may �urn
<br /> o�er and d�li�er to Trus�vr{s}or�h�ir successors in in�eres�, any or al! af such sums vvifihou�prejudice ta
<br /> any o�Benefic�ary's rights t�take and retain future sums, and�►vi�hout prejud�ce�a any❑f i�s ofh�r righ�s
<br /> under this Trust Deed. This assignment will be canstrued to be a provision�ar�he payment or reduction
<br /> af the deb�, subject to �he Beneficiary's ap�ian as hereinbefore provided, �ndependen�of the lien an the
<br /> property. Upon paymen� in �u[E of the deb� and �he rec�nveyance vf �his Trus� ❑eed af record, th�s
<br /> assignmen�will become inop�rative and of no fur�her force and effect.
<br /> 'I�. This Trust De�d cons�i�ut�s a Secu�i�y Agreement w�fh r�spect�o all the prop�rty d�scribed her�in.
<br /> '!7. The co�enants can�arned in �his T�rus� Deed will be deemed �o be severahle; in fhe e�en�tha�any
<br /> p�rtion ot�hi� Trusfi Deed is de�ermin�d �a he �oid or unentorceable, fhat de�ermina�ivn wil� nof af�ect
<br /> �he�alidify af the remain�ng portions of�he T�ust D��d.
<br /> App#:5336�55; C!F#:1�7964; Note#:2�4 2fl�EA Lega[❑vc.�ate:August 24,��'�5
<br /> FaRN[5��1,Trust�eed and Assignment af Rents Page 4 of 5
<br />
|