|
DEED OF TRUST
<br />Loan No: 10022430 (Continued)
<br />201704555
<br />Page 5
<br />the Property; and, with or without taking possession of the Property, sue for or oJL6 herwiSe collgot the
<br />rents, issues and profits of the Property, including those past due and unpaid, and -apply the same, less
<br />costs and expenses of operation and collection attorneysr fees, to any indebtedness secured by this Deed
<br />of Trust, all in such order as Lender may determine. The entering upon and taking possession of the
<br />Property, the collection of such rents, issues and profits, and the application thereof shall not cure or
<br />waive any default or notice of default under this Deed of Trust or invalidate any act done in response to
<br />such default or pursuant to such notice of default; and, notwithstanding the continuance in possession of
<br />the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall
<br />be entitled to exercise every right provided for in the Note or the Related Dorum-ents or by law upon the
<br />occurrence of any event of default, including -the right to exercise the power of sale;
<br />(b) Commence an action to forec-lose this Deed of Trust as a mortgage, appoint a receiver or specifically
<br />enforce any of the covenants hereof; and
<br />(c) Defiver to Trustee a written declaration of default and demand for sale and a written notice of default
<br />and election to cause Trustor"s interest in the Property to be sold, which notice Trustee shall cause to be
<br />duly filed for record in the appropriate offices of the County in which the Property is located; and
<br />(d) With respect to all or any part of the Personal Property, Lender shall have all the rights end remedies
<br />of a secured party under the Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exerc-ise of the Power of Sale herein contained,
<br />Lender shall notify Trustee and shall deposit with Trustee this Dead of Trust and the Note and SUGh receipts
<br />and evidence of expenditures made and secured by this Deed of Trust as Trustee may require.
<br />(a) Upon recelpt of such notice from Lender, Trustee shall oause to be recorded, published and delivered
<br />to Trustor such Notice of Default and Notice of Sale as then required by law and by this Deed of Trust.
<br />Trustee shall, without demand on Trustor, after suGh time as may then be required by law and after
<br />recordation of such Notioa of Default and after Notice of Sale having been given as required by law, sell
<br />the Property at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in
<br />separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may determine,
<br />at public auction to the highest bidder for cash in lawful money of the United States payable at the time
<br />of sale. Trustee shall deliver to such purGhaser or purchasers thereof its good and sufficient deed or
<br />deeds conveying the property so sold, but without any covenant or warranty, express or implied. The
<br />recita[s in such dead of any matters or facts sha[l be conclusive proof of the truthfulness thereof. Any
<br />person, including without limitation Trustor, Trustee, or Lender, may purchase at such sale.
<br />(W As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this
<br />Trust, including costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale
<br />to payment of (i) all sums expended under the terms of this Deed of Trust or under the terms of the Note
<br />not then repaid, inc-luding but not limited to accrued interest and late charges, (ii) all other sums then
<br />secured hereby, and (iii) the rernallnder,' if any, to the person or persons legally entitled thereto.
<br />(c) Trustee may in the manner provided by law postponesale of all or any portion of the Property.
<br />Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br />performance of -any indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powers
<br />under thia Dead of Trust, under the Note, under any of the Related Documents, or under any other agreement or
<br />any laws now or hereafter in force; notwithstanding, some or all of such indebtedness and obligations secured by
<br />this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br />assignment or othervvi:se. Neither the acceptance of this Deed of Trust nor its enforGament, whether by court
<br />ar,tion or pursuant to the power of sale or other powers contained in this Deed of Trust, shall prejudice or in any
<br />manner affect Trwms-'s or Lender's right to realize upon or enforoe any other security now or hereafter held by
<br />Trustee or Lender, it being agreed that Trustee and Lender, and each of them, shall be entitled to enforce this Deed
<br />of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
<br />either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or
<br />Lender, is intended to be eXC[USiVe of any other remedy in this Deed of Trust or by law provided or permitted, but
<br />each shall be cumulative and shall be in addition to every other remedy given in thi:s Deed of Trust or now or
<br />here -after existing at law or in equity or by statute. Every power or remedy given by the Note or any of the Related
<br />Documents to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised,
<br />concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Lender,
<br />and either of them may pursue inconsistent remedies. Nothing in this Deed of Trust sh-all be construed as
<br />prohibiting Lender from. seeking a deficiency judgment against the Trustor to the extent such action is permitted by
<br />law.
<br />Election of Remedies. AH of Lender's rights and remedies will be cumulative and may be exercised alone or
<br />together. If Lender decid-as to spend money or to perform any of Trustor's obligations under this Deed of Trust,
<br />after Trustor's failure to do so, that decision bV Lender will not affect Lender's right to declare Trustor in default
<br />and to exercise Lender"s remedies.
<br />Request for Notice. Trustor, on behalf ot Trustor and Lender, hereby requests that a copy ot any Notice of Default
<br />and a copy of any Notice of Sale under this Deed of Trust be mailed to them a -L the addresses set forth in the first
<br />paragraph of this Deed of Trust.
<br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of
<br />Trust, Lender shall be entitled -to recover such sum as the court may adjudge reasonable as attorneys' tees at trial
<br />and upon any appe-al. Whether or not any court action is involved, and to the ex -tent not prohibited by law, all
<br />reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its
<br />interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
<br />interest at the Note rate from the date of the expenditure unt'll repaid. Expenses rnvered by this paragraph include,
<br />without limitation, however subject to any 1�mits under applicable law, Lender's attorneys' fees and Lender"s legal
<br />expenses, whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings
<br />�including eftorts to modify or vacate any automatic:stay or injuncti!W-, appeals, and any anticipated post -judgment
<br />colleation services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors'
<br />reports-, and appraisal fees, title insurance, and fees for -the Trustee-, to the extent permitted by applicable law.
<br />Truslor also will pay any court costs, in addition to all other sums provided by law.
<br />Rights of Trustee. Trustee shal[ have all of the rights and duties of Lender as set forth in this section.
<br />POWERS AND OBLIGATIONS OF TRUSTEE, The following provisions relating to the powers -and obligations of Trustee
<br />are part of -this Deed of Trust-.
<br />Powers of Trustee. In addition to all powers of Trustee arising as a rnatter of [aw, Trustee shall have the power to
<br />take the foilowing actions with respect to the Property upon the written request of Lender and Trustor: (a) join in
<br />preparing and filing a map or plat of the Real Property, including the dedication of streets or o-ther rights to the
<br />public; (b) join in granting any easement or crea-ting any restriction on the Real Proporty; and M join in any
<br />subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust.
<br />
|