|
2� 17��929
<br /> DEED �F TRUST
<br /> tC�ntinued} Page 6
<br /> perfect, continue, or preserve �1} Borrvwer's and Trustor's❑bligativns under the Credit Ag�eement,this Deed❑f
<br /> Trust, and the Related Documents, and �2} the liens and security interests created by this Deed af Trus#on the
<br /> Property, whether now❑wned or herea�ter acquired by Trustor. Unless prohEbited by faw vr Lender agrees to the
<br /> �nntrary in writing, Trusto� shall reimburse Lender far a�� casts and expenses incurred �n connection with the
<br /> matters referred to in this paragraph.
<br /> Attorney-in-Fact. If Trustor fails to do any o�the things referred to in the preceding parag�aph, Lender may do sa
<br /> for and in th� name of Trustor and a�Trustor's expense. For such purposes, Trustvr her�hy Erre�acabfy appoin#s
<br /> Lender as Trustor's attorney-in-fact fvr the purpose of making,executing, deli�ering,filing, recording,and doing ail
<br /> other things as may be necessary ar desirable, in Lender's sale ap�nion, to accvmplish the matters referred to in
<br /> �he preceding paragraph.
<br /> FLILL PERFnRMANCE. !f Barrower and Trustar pay ali the Indebtedness when due, termina#es the credit line account,
<br /> and Trustvr othsrwise perfvrms afl the obligations imposed upvn Trustor under this Deed of Trust, Lender shall execute
<br /> and deli�er to Trustee a request�or full �e�on�eyance and shalf exe�ute and deli�er to Trustor suitable statements vf
<br /> termination of any financing statement on file e�idencing Lender's security interes# in the Rents and the Persona!
<br /> Property. Any re�on�eyanGe#ee required by!aw shall be paid by Trustor, if permitted by applicable law.
<br /> EVENTS�F DEFAULT. Trustor wil! be in detault under this Deed o�Trust if any of�he foilowing happen: �A} Trust�r
<br /> commits fraud or makes a material misrepresentat�on at any time in connection with the Credit Agreement. Th�s can
<br /> include,for example, a faise statement about Bvrrower's❑r Trustar's income, assets, liabilities, ar any other aspects of
<br /> Barrower's ar Trustor's financial�ondition. �B} B�rrvwer does not meet the repayment terrns of the Credit Agresment.
<br /> �C} Trustor's action or inaction ad��rsely affects the collatera� or Lender's rights in the cailateral. This can in�lude,for
<br /> example, failure to maintain required insurance, waste or destructi�e use of the dwelling,failure t❑pay taxes, death of
<br /> all persons liable ❑n the a�count, transfer of title or sale of the dwefling, �rea#ian o� a senior I�en vn the dwelling
<br /> without Lender's permissivn, �areclosure by the holder of another lien,vr the use vf�unds or the dwelling for prohibited
<br /> purpases.
<br /> RIGHTS AND REMED�ES ON DEFAIILT. I�an E�ent of❑e�auft occurs under this Deed of Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any❑ne or more of the foElowing rights and remedies:
<br /> Accelerativn Upan�efault;Additiona!Remedies. If any E�ent of Default accurs as per the#erms of the Credit
<br /> Agreement secured hereby, Lender may deciare all Indebtedness secured by this Deed of Trust to be due and
<br /> payable and the same shall thereupon become due and payable without any presentment,demand, protest or
<br /> notice of any kind. Thereafter, Lender may;
<br /> �a} Ei#her in pe�rson or by agent, with ❑r without bringing any action or proceeding, or by a receiver
<br /> appointed by a�ourt and withaut regard to the adequacy af its security, enter upon and take passessivn
<br /> of the Property, ar any part thereof, in its own r�am�or in the nam�of Trustee, and do any acts which it
<br /> deems necessary or desirable to preserve the�a1ue, marketabili#y or rentability of the Prvperty,or part af
<br /> the Property❑r interest in the Prop�rty; increase the incom�fram the Prvperty❑r prote�t the security of
<br /> the Property; and, with or without taking possession of the Property, sue for or vtherwise �vllect the
<br /> rents, issues and profts af the Property, including th�se past due and unpaid, and apply the same, less
<br /> costs and expenses of operation and�vliection attvrneys'fees,to any indebtedness se�ured by this ❑eed
<br /> of Trust, all in such order as Lend�� may determine. The entering upon and taking possession ❑f the
<br /> Property, the collection of such rents, �ssues and profits, and the applicatian thereo� sha�l nvt �ure ❑r
<br /> wai�e any default or nvtice of defau�t under this Deed ❑f Trust vr in�alidate any act done in response ta
<br /> such default❑r pursuant to such notice of default;and, notwithstanding#he continuance in passession of
<br /> the Prvperty or the callection, receipt and application of rents, issues or profts, Trustee ar Lender shali
<br /> b� entitied ta exercise every right provided for in the Credit Agreement or the Related Documents or by
<br /> law upon the occurren�e of any e�ent o�default,includEng the right to exercise the power of sale;
<br /> �b} �ommence an action tv forecfose this Deed af Trust as a mor�gage, appoint a recei�er or specifically
<br /> enforce any of the co�enants hereof;and �
<br /> {c} Deliver to Trustee a written declaration vf default and demand for sale and a written notice of default
<br /> and election to cause Trustor's interest in the Prvperry ta be sold,which notice Trustee sha11 cause to be
<br /> duly filed for rec�rd in the appropriate o�fces of the County�n which the Property is facated;and
<br /> �d} With respect to all or any part of the Pe�sonal Property, Lender shall ha�e all the rights and remedies
<br /> vf a secured party under the Nebraska Lln�form Commercial Code.
<br /> Fore�losure by Power of Sale. If Lender elects to foreclose by exercise vf the Power af Sale herein cantained,
<br /> Lender shall nati�y Trus#e� and shall depasit with Trustee this Deed of Trust and #he Credit Agreement and
<br /> such receipts and e�idence of expenditures made and secured by this Deed of Trust as Truste�may require.
<br /> �a} Upon receipt of such natice from Lender,Trus��e shall�ause#o be recorded, pu�lished and de[i�ered
<br /> to Trustor such Notice of Default and Notice vf Sale as then required by law and by this Deed of Trust.
<br /> Trustee shali, without demand on Trustor, after such time as may then be requFred by law and after
<br /> recvrdatian of such Notice of Default and after Notice Qf 5ale having been gi�en as required by lawr SEII
<br /> fhe Property at#he time and pla�e af sale fixed by it in such Nvtice of 5ale, either as a whvle, or in
<br /> separat�[ats vr parcels or items as Truste�shall deem expedient,and in such order as i#may determine,
<br />
|