201606625 - Laserfiche WebLink

Browse

CHI 67430504v4 201606625 Borrower and Bank expressly intend that this Deed of Trust secure any and all protective, optional or obligatory future advances that Bank may make to Borrower from time to time, and that the Borrower may agree to pay, but any and all optional future advances are discretionary and are subject to such terms and conditions as Bank may require in its sole, absolute discretion. This Deed of Trust secures future advances or future obligations. The total amount of the obligations which may be secured by this Deed of Trust shall not exceed, at any time, Four Million Eight Hundred Thousand Dollars ($4,800,000.00) plus the costs of protecting and preserving the Property and the lien of this Deed of Trust paid by Bank pursuant to this Deed of Trust. Nothing contained in this Subsection C.4. shall be deemed to obligate Bank to make any future advances to Borrower. It shall be deemed a default hereunder if, pursuant to §76- 1002(b)(i) of the Nebraska Trust Deeds Act, Borrower files a notice of record limiting the amount of future advances secured by this Deed of Trust. D. Trustee accepts this Deed of Trust upon recording in the public records of the county in which the Property is located as provided by law. 1. Trustee will hold all funds in connection with this Deed of Trust in trust for the benefit of Bank for the purpose(s) for which the funds were received. 2. Bank may unilaterally replace Trustee at any time and for any reason by: a. Notifying Trustee of such replacement; b. Executing a document appointing a successor trustee and recording it in the appropriate recording office of the state where the Property is located in accordance with applicable law; 3. Trustee may resign by giving ninety (90) days written notice of resignation to Bank in a form suitable in substance for public recording and in accordance with applicable law; 4. Any successor trustee will be vested with all the rights, duties, and powers of the original named Trustee as if the successor had been the originally named Trustee without any further act or conveyance and Trustee will: a. Upon Bank's request, execute and deliver any and all documents in recordable form transferring Trustee's rights, duties, and powers to the successor trustee; b. Duly assign, transfer, and deliver any property and/or funds held by Trustee for the benefit of Bank to the successor trustee to hold for the benefit of Bank. 3