200007571 - Laserfiche WebLink

Browse

200007571 sum remains unpaid for fifteen (15) days thereafter, BENEFICIARIES can cause Notice of Default to be given and the premises be sold as provided herein. H. As additional and collateral security for the loan, and effective forthwith upon filing of a Notice of Default, this instrument shall serve as an assignment by the TRUSTORS to the TRUSTEE, of all rents and revenues resulting from the property, and TRUSTEE is authorized to take possession of the property, rent or lease the same on terms he deems best and to collect the rents and revenues and apply the same upon unpaid interest, principal, taxes or insurance premiums or for maintenance and preservation of the premises. I. The waiver by TRUSTEE or BENEFICIARIES of any default of TRUSTORS under this Deed of Trust, on one occasion, shall not be or be deemed to be a waiver_ of any other or similar defaults subsequently occurring. J. If title to any part of the property herein shall be taken in condemnation proceedings, by right of eminent domain, or similar action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to the BENEFICIARIES, who shall apply such payment, or any part thereof, in their sole discretion, to the sum due at that time on this Deed of Trust and Trust Deed Note, with any balance above the amount due hereunder payable to the TRUSTORS. K. The BENEFICIARIES, their agents or representatives, are hereby authorized to enter, at any reasonable time, upon any part of the trust property for the purposes of inspecting the same and for the purpose of performing any of the acts they are authorized to perform under the terms of this Deed of Trust and other accompanying documents. L. This Deed of Trust and all accompanying documents are subject to, constructed and governed by the laws of the State of Nebraska for all purposes. M. In the event any one or more of the provisions contained in this Deed of Trust, Trust Deed Notes, or any other instrument given in connection with this transaction, shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall, at the option of the BENEFICIARIES, not affect any other provisions of this Deed of Trust or Trust Deed Note, but this Deed of Trust and Trust Deed Note shall be construed as if such invalid, illegal or unenforceable provision had never been contained therein, it being the intention of the parties that the provisions of this Deed of Trust are declared to be severable. N. This Deed of Trust shall inure to and bind the heirs, devisees, personal representatives, successors and assigns of the parties hereto. The TRUSTORS request that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to them at the address herein set forth, or such other addiebs as ti-ley may provide to the TRUSTEE and BENEFICIARIES. TRUSTORS further state that they have given the BENEFICIARIES a written Acknowledgment which states that as TRUSTORS, they understand that the document that they are executing herein is a Deed of Trust and not a mortgage, and that the power of sale provided for in this Deed of Trust provides substantially different rights and obligations than a mortgage and in an event of default or breach of the obligations set forth herein, the TRUSTEE and the BENEFICIARIES may take such action as herein provided, including the exercise of the power of sale, and the parties agree that said Acknowledgment above referred to has -4-