|
200001756
<br />(b) A breach of, or default under, any provision contained in the Note, this Deed of Trust,
<br />any of the Loan Instruments, or any other lien or encumbrance upon the Property;
<br />(c) A writ of execution or attachment, or any similar process, shall be entered against
<br />Trustor which shall become a lien on the Property or any portion or interest therein;
<br />(d) There shall be filed by or against Trustor or Borrower an action under any present or
<br />future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other
<br />relief for debtors, or there shall be appointed any trustee, receiver or liquidator of Trustor or
<br />Borrower or of all or any part of the Property, rents, issues or profits thereof, or Trustor or
<br />Borrower shall make any general assignment for the benefit of creditors;
<br />(e) The sale, transfer, assignment, conveyance or further encumbrance of all or any part
<br />of or any interest in the Property, either voluntarily or involuntarily, without the express written
<br />consent of Lender or as otherwise herein permitted; or
<br />(f) Abandonment of the Property.
<br />12. Remedies, Acceleration Upon Default. In the event of and Event of Default, Lender may, without
<br />notice except as required by law, declare all indebtedness secured hereby to be due and payable, and the same shall
<br />thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter,
<br />Lender may:
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee
<br />shall thereafter cause Trustor's interest in the Property to be sold and the proceeds to be
<br />distributed, all in the manner provided in the Nebraska Trust Deeds Act;
<br />(b) Exercise any and all rights provided for in the Note, this Deed of Trust or by law upon
<br />occurrence of any Event of Default; and
<br />(c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver
<br />or specifically enforce any of the covenants hereof.
<br />No remedy herein conferred upon, or reserved to, Trustee or Lender is intended to be exclusive of any other remedy
<br />herein, in the Note or by law provided or permitted, but each shall be cumulative, shall be in addition to every other
<br />remedy given hereunder, in the Note or now or hereafter existing at law or in equity or by statute, and may be
<br />exercised concurrently, independently or successively.
<br />13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without
<br />cause appoint a successor or substitute Trustee. Trustee shall not be liable to any party, including, without limitation,
<br />Lender, Borrower, Trustor or any purchaser of the Property, for any loss or damage unless due to reckless or willful
<br />misconduct, and shall not be required to take any action in connection with the enforcement of this Deed of Trust
<br />unless indemnified, in writing, for all costs, compensation or expenses which may be associated therewith. In
<br />addition, Trustee may become a purchaser at any sale of the Property (judicial or under the power of sale granted
<br />herein); postpone the sale of all or any portion of the Property, as provided by law; or sell the Property as a whole, or
<br />in separate parcels or lots at Trustee's discretion.
<br />14. Fees and Expenses. In the event Trustee sells the Property by exercise of power of sale, Trustee shall
<br />be entitled to apply any sale proceeds first to payment of all costs and expenses of exercising power of sale, including
<br />all Trustee's fees, and Lender's and Trustee's attorney's fees actually incurred to the extent permitted by applicable
<br />law. In the event Borrower or Trustor exercises any right provided by law to cure an Event of Default, Lender shall
<br />be entitled to recover from Trustor all costs and expenses actually incurred as a result of Trustor's default, including,
<br />without limitation, all Trustee's and attorney's fees, to the extent permitted by applicable law.
<br />15. Future Advances. Upon request of Borrower, Lender may, at its option, make additional and future
<br />advances and readvances to Borrower. Such advances and readvances, with interest thereon, shall be secured by this
<br />Deed of Trust. At no time shall the principal amount of the indebtedness secured by this Deed of Trust, not including
<br />sums advanced to protect the security of this Deed of Trust, exceed the original principal amount stated herein.
<br />16. Miscellaneous Provisions.
<br />(a) Borrower Not Released. Extension of the time for payment or modification of amortization of
<br />the sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate
<br />to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall
<br />not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise
<br />modify amortization of the sums secured by this Deed of Trust by reason of any demands made by the original
<br />Borrower and Borrower's successors in interest.
<br />(b) Lender's Powers. Without affecting the liability of any other person liable for the payment of
<br />any obligation herein mentioned, and without affecting the lien or charge of this Deed of Trust upon any portion of
<br />the Property not then or theretofore released as a security for the full amount of all unpaid obligations, Lender may,
<br />Page 3 of 5
<br />
|