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200101126
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Last modified
10/14/2011 12:19:54 AM
Creation date
10/20/2005 7:57:04 PM
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DEEDS
Inst Number
200101126
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assume unconditionally the obligations arising under the guaranty in a manner satisfactory <br />to Beneficiary, and, in doing so, cure the Event of Default. <br />Insecurity. Beneficiary in good faith deems itself insecure. <br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and <br />at any time thereafter but subject to any limitation in the Note or any limitation in this Deed of Trust, <br />Beneficiary, at its option, may exercise any one (1) or more of the following rights and remedies, <br />in addition to any other rights or remedies provided by law: <br />Accelerate Indebtedness. Beneficiary shall have the right at its option without notice to <br />Grantor to declare the entire Indebtedness immediately due and payable, including any <br />prepayment penalty which Grantor would be required to pay. <br />UCC Remedies. With respect to all or any part of the Personal Property, Beneficiary shall <br />have all the rights and remedies of a secured party under the Uniform Commercial Code. <br />Entry. Irrespective of whether Beneficiary exercises the option to accelerate the <br />Indebtedness provided above, Beneficiary in person or by agent or by court- appointed <br />receiver (in accordance with the paragraph below) may enter upon, take possession of, <br />conduct tests of, manage and operate the Property or any part thereof and do all things <br />necessary or appropriate in Beneficiary's sole discretion in connection therewith without the <br />appointment of a receiver, or an application therefor. Beneficiary or its agent or a receiver <br />may exclude Grantor, its agents and servants, wholly therefrom, and having and holding the <br />same, may use, operate, manage and control the Property or any part thereof. Beneficiary, <br />at the expense of Grantor, may make all necessary or proper repairs, renewals, replacements <br />and useful or required alterations, additions, betterments and improvements to and upon the <br />Property as Beneficiary may deem judicious and pay all costs and expenses of so taking, <br />holding and managing the same, including compensation to Beneficiary's employees and <br />other agents (including, without limitation, reasonable and actual attorneys' fees and <br />management and rental commissions) and any taxes, assessments and other charges prior to <br />the legal operation and effect of this Deed of Trust which Beneficiary may deem it wise or <br />desirable to pay, and in such case Beneficiary shall have the right to manage the Property and <br />to carry on the business and exercise all rights and powers of Grantor, either in the name of <br />Grantor, or otherwise, as Beneficiary shall deem advisable; and Beneficiary shall be entitled <br />to collect and receive all rents thereof and therefrom. The taking of possession and <br />collections of rents by Beneficiary shall not be construed to be an affirmation of any lease <br />or acceptance of attornment with respect to any lease of all or any portion of the Property. <br />Beneficiary may commence, appear in and/or defend any action or proceedings purporting <br />to affect the security hereof, and/or any additional or other security therefor, the interests, <br />rights, powers and /or duties of Trustee and/or Beneficiary hereunder, whether brought by or <br />Tracking No. 200012011 -NEB <br />13 <br />
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