201701464 - Laserfiche WebLink

Browse

2� 17� 14�4 aEE� �F TRUST Loan No: '1�'I 3�2�75 �Continued� Page 7 E�ents Affecting Guarantvr. Any af the preceding e�ents occurs with r�spect to any guarantor, endorser, surety, ar acc�mmvdation party ❑f any of th� �ndebtedn�ss ❑r any guarantor, endorser, surety, ar accammadation party dies ar becomes incampetent, ❑r re�akes or disputes �he �alidity vf, or liabi��ty under, any Guaranty of the Indebtedness. Ad�erse Change. A material ad�erse change occurs in Bvrrawer's or Trustvr's financial canditian, nr Lender belie�es the praspect af paymen�ar performance of the Indebtedness is impaired. Ins�curity. L�nder in gvod faith believes itself insecure. Existing Indebtedness. The payment ❑fi any installment of prFncipal or any interest ❑n the Existing lndebtedn�ss is nat made within the time required by the prvmissory nvte e�idencing such indebt�dness, ❑r a default ❑ccurs under the instrum�nt securing such indebtedness and is not cured during any applicable grace periad in such instrumen�, ar any suit ar ather action is commen�ed to forec�ase any existing �ien on the Property. Right to Cure. If any default, ❑ther than a default in payment, is curabl� and if Trustar has nat been gi�en a notice �f a breach of the same pra�isifln vf this Deed vf Trust within the preceding twel�e �12} manths, it may be cured it Trustor, after Lender sends written notice to gvrrawer demanding cure �� such default: �1� cures th� default within fifteen �1 5} days; vr �� if the cure requ�res more than fifteen ��5} days, immediate�y initiates steps which Lender deems in Lender's sale discretion to be sufficient t❑ cure the default and thereafiter con�inues and completes all reasnnable and necessary steps sufficient to produce compliance as soon as reasonably pra�ti�al. RIGHTS AND REMEDlES �N DEFAULT. If an E�ent af Default occurs under this Deed af Trust, at any time thereafter, Trustee ❑r Lender may ex�rcise any ane ar more of the following rights and remedies: Acceleration Upan Default: Additionat Remedies. If any E�ent of Default occurs as per the terms vf the Note secured hereby, Lender may declare a�! In�ebtedness secured by this ��ed �f Trust to be due and payable and the same shail thereupon bec�me due and payable withvut any presentment, demand �r prvtest vf any kind. Thereafter, Lender may: �af Either in person vr by agent, with ar without bringing any action or praceeding, ar by a recei�er appo�nted by a court and without re�ard to the adequaGy ❑t its se�urity, enter upon and tak� possession o� the Prvperty, or any part thereof, in its own name ar in the name af Trustee, and d❑ any acts which it deems necessary ❑r desirable to preser�e the �alue, marketability or rentabifity of the Property, ❑r part o# �he Property or interest in the Praperty; increase the incame frvm the Prvperty or protect the se�urity of the Property; and, with or without taking possessi�n af the Property, sue for ❑r ❑therwise callect the rents, issues and prafits af th� Property, including thase past due and unpa�d, and appfy the same, less costs and expenses vf aperatian and c�itectian attorneys' fees, to any indebtedness secured by this ❑eed of Trust, all in such arder as Lender may determine. The enter�ng upon and taking poss�ssian of th� Prop�rty, the cof�ection of su�h rents, issues and profits, and the application thereaf shall not cure vr wa��e any default flr natice of default under this Deed of Trust or in�alidate any a�t done in respanse tv such default or pursuant to such noti�e of default; and, notwithstanding the cvntinuance in pvssession of the Praper�y ar the co�lection, receipt and app�tca�ivn of r�nts, issues or profits, Trustee ❑r Lender sha�! be entitled tv exercise e�ery right prv�ided far in the Nc�te or the Related avcuments ar by law upon the oc�urrence of any e�ent of default, including the right to exercise the pawer af sale; �b� Cammence an action t� foreclose this Deed af Trust as a mortgage, appo�nt a recei�er ❑r specifically enfarce any of the ca�enants hereof; and �c} Deli�er�o Trustee a written deciaration ❑f default and demand for sale and a written nfltice of defiault and ele�tion t� cause Trustar's intere�t in the Property to be said, which natice Trustee shall cause �o be duly filed f�r re�ard in the appropriate offices of the Cvunty in which the Property is lacated; and tdy With respect t❑ all ar any part❑f the Personal Praperty, Lender sha(� ha�e all the rights and remedies vf a secured party under the Nebraska Uniform CammerGial C�de. Foreclosure by Power of Sale. !f Lender elects to fvreclose by exercise o�the Pawer of Sa�e herein contained, Lender shall n�tify Trustee and sha�� depasit with Trustee thf5 Deed of Trust and the Note and such re�eipts and e�idence �f expenditures made and secured by this Deed ot Trust as Trustee may r�quire. �a7 Upon re�eipt vf such notice tram Lender, Trustee shall �ause to be recorded, pub�ished and deli��red to Trus�or such Nntice ❑f Default and Noti�e of 5ale as then required by law and by this Deed af Trust. Truste� shafl, without demand on Trustar, after such time as may then be required by law and after recordatian ❑f such Natice ❑# Default and a�ter Notice �f Sale ha�ing been gi�en as required by law, sell the Prvperty at the time and place of sale fixed by it in such fVvtice ❑f 5a�e, either a� a whole, ar �n separate iots or parcels ❑r items as Trustee s�all deem expedient, and in su�h ❑rdsr as it may determine, at public auction to the highest bidder for cash in lawful maney of the United States payable at the time ❑f sale. Trustee shali deli�er to such purchaser or purchasers thereof its good and sufficient deed vr de�ds con�eying the property so sold, �ut w�thaut any co�enant or warranty, express �r implied. The recitals in such deed ❑f any matters ❑r facts shall be conclusi�e proof af the truthfu�ness therevf. Any person, including without lim�tation Trustor, Trus�ee, or Lender, may purchase at such sale. th� As may be permitted by law, atter deducting all �osts, fees and expenses of Trust�e and vf this