|
200106908
<br />(f) If Borrower is not an individual, the sale, transfer, assignment, conveyance or encumbrance
<br />of more than percent of (if a corporation) its issued and outstanding stock or
<br />(if a partnership) percent of partnership interests.
<br />9. Remedies; Acceleration Upon Default. In the event of any Event of Default Lender may
<br />declare all indebtedness secured hereby to be due and payable and the same shall thereupon
<br />become due and payable without any presentment, demand, protest or notice of any kind.
<br />Thereafter Lender may-
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein,, and Trustee shall
<br />thereafter cause Borrower's interest in the Property to be sold and the proceeds to be
<br />distributed, all in the manner provided in the Nebraska Trust Deeds Act;
<br />(b) Either in person or by agent, with or without bringing any action or proceeding, or by a
<br />receiver appointed by a court and without regard to the adequacy of its security, enter upon
<br />and take possession of the Property, or any part thereof, in its own name or in the name of
<br />the Trustee, and do any acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentability of the Property, or part thereof or interest therein, increase the
<br />income therefrom or protect the security hereof and, with or without taking possession of
<br />the Property, sue for or otherwise collect the rents, issues and profits thereof, including
<br />those past due and unpaid, and apply the same, less costs and expenses of operation and
<br />collection including attorneys' fees, upon any indebtedness secured hereby, all in such
<br />order as Lender may determine. The entering upon and taking possession of the Property,
<br />the collection of such rents, issues and profits and the application thereof as aforesaid, shall
<br />not cure or waive any default or notice of default hereunder or invalidate any act done in
<br />response to such default or pursuant to such notice of default and, notwithstanding the
<br />continuance in possession of the Property or the collection, receipt and application of rents,
<br />issues or profits, Trustee or Lender shall be entitled to exercise every right provided for in
<br />any of the Loan Instruments or by law upon occurrence of any event of default, including
<br />the right to exercise the power of sale ;'and
<br />(c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or
<br />specifically enforce any of the covenants hereof,
<br />No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of
<br />any other remedy herein or by law provided or permitted, but each shall be cumulative, shall be in
<br />addition to every other remedy given hereunder or now or hereafter existing at,, law or in equity or
<br />by statute, and may be exercised concurrently, independently or successively.
<br />10. Trustee. The Trustee may resign at any time without cause, and Lender may at any time
<br />and without cause appoint a successor or substitute Trustee. Trustee shall not'be liable for
<br />any loss or damage unless due to actionable negligence or willful misconduct, and shall not be
<br />required to take any action in connection with the enforcement of this Deed of Trust unless
<br />indemnified, in writing, for all costs, compensation or expenses which may be'associated
<br />therewith. In addition, Trustee may become a purchaser at any sale of the Property (judicial or
<br />under the power of sale granted herein); postpone the sale of all or any portion of the property, as
<br />provided by law, or sell the Property as a whole, or in separate parcels or lots.
<br />11. Future Advances. Upon request of Borrower, Lender may, at its option, make additional
<br />and future advances and readvances to Borrower.' Such advances and readvarices, with interest
<br />thereon, shill be secured by this Deed of Trust. At no time 'shall the principal 'amount of the
<br />indebtedness secured by this Deed of Trust, not including sums advanced to protect the security of
<br />this Deed of Trust, exceed the original principal amount stated herein, or one 'Hundred Twenty Three
<br />Thousand Dollars ,whichever is greater.
<br />12. Miscellaneous Provisions.
<br />(a) Borrower Not Released. Extension of the time for payment or modification of
<br />amortization of the sums secured by this Deed of Trust granted by Lender to any successor
<br />in interest of Borrower shall not operate to release, in any manner, the liability of the
<br />original Borrower and Borrower's successors in interest. Lender shall not be required to
<br />commence proceedings against such successor or refuse to extend time for payment or
<br />otherwise modify amortization of the sums secured by this Deed of Trust by reason of any
<br />demands made by the original Borrower and Borrower's successors in interest.
<br />
|