201803650 - Laserfiche WebLink

Browse

11. This Deed of Trust shall be governed by Nebraska Law. 201803650 10. Any notice to Guarantors provided for in this Deed of Trust shall be given by delivering it or mailing it by First -Class Mail, unless Nebraska Law requires use of another method, at the Guarantors' last -known address. 12. Landlord shall give notice to Guarantors following Guarantors' breach of any covenant or agreement in this Deed of Trust and the Lease Guaranty that it secures. The notice shall specify (a) the default, (b) the action required to cure the default, (c) a date not less than ten (10) days from the date the notice is given to Guarantors by which the default must be cured, and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sum secured by this Deed of Trust and sale of the Property pursuant to the power of sale herein granted. The notice shall further inform Guarantors of the right to reinstate after acceleration and the right to bring a court action to assert the nonexistence of a default or any other defense of Guarantors to acceleration and sale. If default is not cured on or before the date specified in the notice, Landlord, at its option, may require immediate payment in full of all sums secured by this Deed of Trust without further demand and may invoke the power of sale and any other remedies permitted by Nebraska Law. Landlord shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph or otherwise taken to protect its interest in collateral described in this Deed of Trust or enforce any provisions hereof, including but not limited to reasonable attorney fees and costs of title evidence. 13. If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall mail copies of such notice in the manner prescribed by Nebraska law. Trustee, without demand on Guarantors, shall sell the Property, at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale, in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously - scheduled sale. Landlord or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser a Trustee's Deed conveying the Property. Trustee shall apply the proceeds of sale in the following order: (a) to all expenses of the sale, including but not limited to Trustee's fees as permitted by Nebraska law and reasonable attorney fees; (b) to all sums secured by this Deed of Trust; and (c) any excess to the person or persons legally entitled to it. 14. As additional security for the Lease Guaranty, Guarantors hereby assign all rents, issues, and profits of the Property to Landlord. Upon acceleration under paragraph 13 or abandonment of the Property, Landlord (in person, by agent, or by judicially- appointed receiver) shall be entitled to enter upon, take possession of, and manage the Property and to collect the rents of the Property, including those past due. Any rents collected by Landlord or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including but not limited to receiver's fees, premiums on receiver's bonds, and reasonable attorney fees, and then to the sums secured by this Deed of Trust. Page 4 of 5