|
2� 1 ��2325
<br /> aEEC� �]F TRUST
<br /> �G�ntinued� 1Page 5
<br /> �or�-t�wer`s or Trustor`s finan�ia[ cond��ion. �B} Bvrr�wsr dves nat meet the repayment terms of the Credit Agreement.
<br /> ��� Trus�or's acti�n or inac�ion ad�e�se�y affects�he cvllatera[vr Lender's r�ghts in the col�ateral. This can in�lude,fvr
<br /> example, fai�ure�o maintain required insurance, was�e❑r destruc�i�e use of the dwel[ing,failur�to pay taxes, death of
<br /> al[ persans liabi� on the account, �ransfer of ti�le o�- sa�e of the dwel[ing, creatian of a seniar lien on the dweliing
<br /> without Lender's permission,fvr�closure�y the holder of anvther lien,ar the use a�funds or the dwel[ing for prvhibited
<br /> purp�ses.
<br /> RiGHTS AND REIIJIED[ES �N DEFAULT. If an Eu�nt of Default occurs under fhis ❑eed af Trust, at any#im�#herea�ter,
<br /> Trustee or Lende�may exerc�se any ane❑r more of th�fallowing rights and remedies:
<br /> Acceleratian Upon Dsfau��; Addi�ionai Rem�dies. If any Event of Defau�t accurs as per the terms of the Gr�dit
<br /> Agreement s�cured hereby, Lender may dec�are all lndeb�edness �ecured by�this Deed vf Trus��v be due and
<br /> payable and the same shal[�hereupan b��ome due and payable withau�any presentmen#, demand, protest�r
<br /> notic�of any kind. Thereaf�er, Lender rna�:
<br /> {a} Either in p�rson or by agent, wi�h vr without bringing any action ar proceeding, ar by a receiver
<br /> appoin#ed by a caurt and withaut rega�rd ta the adequacy af its security, en�er upon and take passessivn
<br /> o��he Prvpe�ky, or any par�thereaf, in i�s own name or in�he narne of Trust�e, and do any acts which i�
<br /> deems necessary or desirable to preserve the value, marke�ability ar rentability of the Proper#y, or par�af
<br /> the Property or inferest in�he Proper�y; increase�he in�vme from the Property vr prv�ect the security af
<br /> the Property; and, w�th ar withvut taking possess�on o�the Praper�y, sue for ❑r otherw�se collect the
<br /> rents, issues and profts of the Prap�r�y, includ�ng �hose past due and unpaid, and apply�he same, less
<br /> cvsts and expenses of operativr�and collectian a�tarneys'fees,tv any indeb�edness secured by�his Deed
<br /> of Trus�, ail in such �rder as Lender may determine, The entering upon and �aking pvssession of the
<br /> Property, the colle�tian of such rents, issues and profits, and �he applica�ion thereof sha�� not cure vr
<br /> wa��e any defau�t or notic� of defaul� under this ❑eed of Trus�❑r in�alida�� any act done in response to
<br /> such default ar pursuant to such not�c�af defaul�;and, na�withstanding the cont�nuance in passession af
<br /> �he Property or the co[I�ction, receipt and applicativn of rents, issues❑r profi�s, Trustee or L�nder shall
<br /> be enti�led to exercise e�ery right prauided�ar in the �r�dit Agreement ar the Rela�ed ❑ocuments ❑r by
<br /> law upan the❑�currence of any�vent�f defau�t,includ�ng the right to exer�ise the pawer of sale;
<br /> �b} Commence an a�tivn tfl��recfose this Deed vf Trust as a martgage, appoint a recei�er❑r speci�ically
<br /> enforce any of the co�enants herev�;and
<br /> �c} Deli�er�ta Trusfee a�rvri#ten declara�[an af d�fau�t and demand fvr sale and a written notice of defauE�
<br /> and ele�tion to cause Trustor's �nterest in the Praperky tfl be sold,which notice Trustee shall cause to be
<br /> duly filed�or recvrd in�he apprQpr��te offices of the Count�in which the Pr�per�y is Ivcated;and
<br /> {d} V11ith respect�o all ar any part of t�e Persona� Property, Lender shall ha�e ai]th� rights and remed�es
<br /> o�a secured party under the Nebraska Uniform�ommercia[Code.
<br /> Foreclosure by Power vf Sale. If Lender elects�❑foreclnse by�xercise o�the Power of 5ale herein cvntained,
<br /> L�nder sha[� nvfiify Trustee and shal[ depasit with Trustee �his Deed of Trust and �he Cr�dit Agreement and
<br /> su�h receip�s and ev�dence of�xpenditures made and�ecured by this[]eed of Trus�as Trustee may r�quire,
<br /> �a} L1pvn re�eipt of such no�ice frorn Lender, Trustee shall cause tv be recorded, published and deli�ered
<br /> ta Trustor such hlot��e ❑f De�ault and Notfce af Sale as�hen required by law and by this De�d of Tru�t.
<br /> Trustee sha[I, without demand on Trus�vr, af�er such time as may �h�n be required by �aw and a�er
<br /> recvrdation of such Nati�e of aefaul�and after NQtice of Sale ha�ing been gi�en as required by law, sell
<br /> the Pr�pe�ty at the time and pla�e vf sal� fixed by it in such Notice of 5ale, either as a whole, vr in
<br /> separate lots or parcels❑r items as Trustee sha[I deem expedient, and in such vrder as i#may determine,
<br /> at pub[ic auct�on tv the highest bidd�r�or cash in �awful mvney of the United 5�ates payable a�the�im�
<br /> of sale. Trustee shall deli�er to s�ch purchaser or purchasers #her�o� [ts good and suf�icien� deed or
<br /> deeds canveying �he praperty sa sold, but wi�hout any co�enant ar warranty, express or implied. Th�
<br /> rec��als in such deed af any matters ❑r facts shall he conclusi�� proof of�he truthfu)ness thereaf. eqn�
<br /> person, inciuding withaut limi#ation Tr�stor,Trustee, or Lend�r, may purchase at su�h sale.
<br /> �b} As may be permi�ted by �aw, af��r deducting all costs, fees and expenses of Trustee and of this
<br /> Trust, including�osts af e�idence a�F ti�(e in connection wit�sale,Trustee shall apply the proceeds of sale
<br /> . #o payment of �i} all sums expended under�he terms vf this ❑eed of Trust ar under�he terms �f�he
<br /> Credi�Agreemen� not then repaid, including but not limited to accrued interes�and late charges, �ii} all
<br /> other sums�hen secured hereby, and �iii}the remainder, if any, tv�h�person nr persons legally en�itled
<br /> �herefio.
<br /> �c} Trustee may in the manner pro�rided by law pvstpone safe vf all�r any partion af the Proper�y.
<br /> Remedies Not Exciusi�e. T�-us�ee and Lender, and each of them, sha�! be entit�ed to enfvrce payment and
<br /> performance❑f any indebtedness vr obliga�iar�s se�ured by this Deed af Trus�and to exercise all righ�s and pvwvers
<br /> unde�-this Deed of Trust, under�he Credit�greement, under any of the Rela�ed Documents, vr under any other
<br /> �greement or any �aws nvw or herea�ter in fvrce; notwithstanding, svme or all of such indebtedness and
<br /> ab(igativns secur�d by th�s Deed vf Trus�may naw or hereafter be otherwise secured,whether by mor�gag�,d�ed
<br /> of�rust, pledge, lien, ass`tgnment or otherwise. hleitt�er the ac�ep�ance of this Deed af Trust nvr its enfor�emen#,
<br /> whe�her by cou�t ac�ian or� pursuant to �he p�w�r of sale or o�her powe�-s cvntained in this Deed nf Tt-ust, shall
<br /> pr�judice or in any manner a�ffect Trustee's �r Lender's right to realize upon ar enforce any other security now�r
<br /> hereafter held by Trustee or Lender, it being agre�d tha�Trustee and Lender, and each o�them, shall be entit�ed to
<br /> en�orce fihis Deed af Trus� and any ather s�cu ri�y now or hereafter held by L�nder or Trustee in such vrder and
<br /> manner as th�y vr �i�her nf them may in their absa�ute discre�ivn dete�-mine. No remedy conferred upvn ❑r
<br /> reserved �o Trustee vr Lender, �s intended �ta be excfus��e af any other remedy in this Deed of Trusf or by law
<br /> pro�ided ❑r permitted, but each shall be cumula�ive and shall be in addition to e�ery other remedy gi�en in this
<br /> Deed of Tt-ust or now or hereafter existing at iav�or in equity or by sta�ute. E�ery power vr remedy g€�en by the
<br /> Credit Agreement ar any of the Rela�ed Docut-nents to Trustee or L�nder or tv which either of them may be
<br /> otherwise en�itled, may be ex�rcised, concurrentiy �r independently, frvm fiime �o time and as a�ten as may be
<br /> deemed expedient by Trustee or Lender, and e��her of them may pursue inconsisten� remedies. No�hing in th�s
<br /> ❑�ed a�Trust sha�� be construed as prohibi#ing Lender from seekEng a defi�iency judgment against the Trusto��o
<br /> �he extent such action�s permitted by law.
<br /> Electivn of Remedies, A�! vf Lender`s righfs and rernedies will be cumu�ati�e and may be exercised alone ❑r
<br /> together. lf Lender decides tv spend money or�o perfvrm any of Trus�or's vbligations under�his fleed of Trust,
<br /> af�er Trustor's faifure to do sa, tha� decisian by Lender wilf n��afFect Lender's right fo declare Trustor in default
<br /> and to exercise Lender`s remedies.
<br /> Reques�for Natice. Trusto�, an behalf of Trustor and Lender, hereby reques�s�hat a copy o�any No�ice vf❑efau[t
<br /> and a copy o�f any Noti�e of Sale under this Deed af Trus�be mai�ed ta them at fihe address�s se�farth in the first
<br /> paragraph of this Deed of Trust.
<br /> Attvrneys' Fees; Expenses. [f Lender ins�i�u�es any suit ar action #o enforce any of�he terms O�th45 Deed of
<br /> Trust, Lender shall b�en���led ta recover such sum as the court may adjudge reasonable as attorneys'fees a#�r�al
<br /> and upan any appeal. Whether ❑r not any c�ur� act�on is in�olved, and to the �xtent nat �arohibited by law, all
<br />
|