|
2� 1 ��7�89
<br /> DEED �F TRUST
<br /> Laan No: 'i�'i 2982�� �C�ntinued� Page �
<br /> the preceding paragraph.
<br /> FULL PERFaRMANCE. 1� Barrvwer and Trustor pay ail the Inde�tedness, inctuding withou� limitation al1 fu�ure
<br /> aduan�es. when due, and Trus�ar otherwise performs all the ❑bligations impvsed upon Trust�r under this Deed ofi Trust,
<br /> Lender shall execute and deli�er tv Truste� a request �or tull recon�eyance and shall execut� and d�li�er to Trust�r
<br /> suitabEe statemen�s of termination c�f any ��nan�ing sta�ement an file e�iden�ing Lender's securi�y interes�in the Rents
<br /> and the Personal Proper�ty. Any recon�eyance �ee �equired by law shal[ be paid by Trustor, if permitted by appkicabie
<br /> [aw.
<br /> DEFAULT. At Lender's aption,Trustor wi[E be in default under this Deed o�Trus�i�any❑f�he�ollowing happen:
<br /> Fraud ar Ma�erial N[isrepresentativn. Trus�ar cammits #raud or ma�erial misrepresentativn in c�nnection with the
<br /> terms ofi the Note.
<br /> Paymen�De#aui�. Trustor�ails ta meet the repayment term�a�th� No�e for any�u�s�anding balanc�.
<br /> ��her Defaults. Trustar's act �r �ailure to ac� ad�ersely affects Lender's security in�erest in the Property, ar any
<br /> right vf Lender's in such security.
<br /> Righ��o Cure. If any de�aul�, vth�r than a d�#ault in payment, is curable and if Trus�ar has not been giv�n a notice
<br /> of a breach❑f the same pro�ision o�this Deed of Trust within the pre�eding twe�ve {��y m�nths, it may be cured if
<br /> Trustor, afker Lender sends written notice tv Borrower demanding cure o� such d��ault; ��} cures �he de�ault
<br /> wi�hin ten ���} days; ❑r {2} if the cure requires more than ten ���} days, immediately initiates steps which Lendar
<br /> deems in Lend�r's sole discretEvn to be suf�icient tv cure the defaul� and thereafiter continues and cvmp[etes all
<br /> reasonable and necessary st�ps sufficienfi ta praduce cvmpliance as saon as reasonab�y prac�i�a[.
<br /> RIGHTS AND REIVIEDEES �N DEFAULT. I� an E�en�t of Qe�ault accurs under thEs Deed o�Trust, at any time therea�ter,
<br /> Trus�ee or Lender may exer�ise any one❑r mor�o��he fol[awing r�ghts and rem�dies:
<br /> Ac�e�e�ation Upon De�aul�; Addi�'ronal Remedies. �f any E�ent of Default accurs as pe��he �erms ❑f the No�e
<br /> secur�d hereb�, Lender may d�clar� all lndebt�dness secured by this ❑eed of Trus�ta be due and payable and
<br /> the same shall thereupan becvme due and payable without any presentment, demand, prvtest or natice o#any
<br /> kind. Ther�a�t�r, Lender may:
<br /> �a} Either in persan ar by agen�, wi�h or with�ut bringing any actian vr proc��d�ng, or by a recei�er
<br /> appointed by a caurt and without regard t� the adequacy of its security, ent�r upon and �ake passession
<br /> af the Prope��y, ar any part thereaf, in its own name�r in the name v�Trustee, and dv any acts whi�h it
<br /> deems necessary v�desirable ta pr�ser�e the �aiue, marketabili�y ar rentability o�the Proper�y, vr par�o�
<br /> the Praperty or interest in fihe P�operty; increase the income �rvm the Property �r protect�he s�curity o�
<br /> the Prvperty; and, with or wi�haut taking possession n� the Property, sue for or otherwise coilect the
<br /> ren�s, issues and profits of the Proper�y, including #hase pas"t due and unpaid� and apply the same, I�55
<br /> casts and expenses ❑�operation and cvflectivn attorneys' �ees,�o any indebtedness secur�d by this Deed
<br /> af Trus�, all in such order as Lender may determine. The en�ering upon and taking passession v� the
<br /> Property, the cvlleGtion vf such ren�s, issues and protits, and the applica�ian therevf sha�E not cure vr
<br /> wa��e any de�au��or na�i�e of defauit under this ❑eed v�Trust vr in�alida�e any a�t dane in respvnse tt�
<br /> such de�ault or pursuan�t� such nvtice ❑f de�aul�; and, no#withstanding the �ontinuance in possessivn of
<br /> the Prvper�y or �he caf[ection, receipt and app[icatian af rents. issues ❑r pr����s, Trustee or Lender shall
<br /> �� en#itled �o exercise e�ery r�ght pro�ided �or En '�he Nvte ar the Rela�ed Documents or by law upan the
<br /> accurrence o�any eWent vfi detaul�, incEuding th� �igh�ta exerGise the power of sale;
<br /> �by Cammenc� an action tv fareclose this Deed vt Trust as a mortgage, appvint a re�ei�er or speci�i�ally
<br /> en-�ar��any vf the co�enants herevf; and
<br /> {c} ❑eli�er tv Trustee a wr�tten declaration a�defauft and demand for sale and a written natice❑#de�ault
<br /> and election to cause Trustar's interest in the Praper�y to b�sald, wh�ch natsce Trustee shall �ause ta be
<br /> duEy�iled�or record in�he appropriate❑ffiGes o�the Cvun�y in which th� Property is located; and
<br /> �d� With respec�to all or any part❑��he Personal Proper�y, Lender shai� ha�e all�he rights and rem�dies
<br /> o�a secur�d party und�r�he N�braska Unifarm Commercia! Cade.
<br /> Foreclosure by Power of 5ale. If Lender elects�a �ar�close by�xer�ise o#the Power of�ale herein contained,
<br /> Lend�r shali nv#i�y Trus�ee and shall deposit wi�h Trus�e� this Deed af Trust and �he No�e and such receipts
<br /> and eW�dence of expenditures made and secured by this Deed❑�7rus�as Trustee may require.
<br /> ta} Upon re�eipt��such natice from Lender, Trustee shall cause�a be re�orded, puhlished and deli�ered
<br /> to Trustor such Notice o� De�ault and Nv�ice o�.Sale as then required by Iaw and by this ❑eed ❑'�Trust.
<br /> Trus�ee shall, withvut d�mand an Trustvr, after such timE as may then he required by law and after
<br /> reco�da�ian of such Nntice ❑�De�aul� and a�ter Natice v# S�le ha�ing been gi�en as �equired by law, seii
<br /> the Property at the time and place v� sale -�ixed by i� in such Nvtice of 5ale, either as a whale, or in
<br /> s�pa�-a�e I��s or pa�cels ❑r items as Trustee shall deem expedient, and in such vrder as it may de�ermine,
<br /> at public auction to the highest bidder#or cash in law�ul money v�th� United 5tates payable at the �ime
<br /> v� sale. Trustee shall dei�ver to such purchaser ar purchasers thereo� its goad and su��icient deed vr
<br /> deeds canveying the prnperty sa sv[d, lau� wi�hau-t any caWenant or warranty, express ❑r implied. The
<br /> recitals in such deed o� any matters or facts shaf[ be conclusive pr�of of the truth�ulness thereo�. Any
<br />
|