Laserfiche WebLink
Loan No: 1 01314597 <br />201804790 <br />DEED OF TRUST <br />(Continued) Page 7 <br />Borrower or Trustor and Lender that is not remedied within any grace period provided therein, including without <br />limitation any agreement concerning any indebtedness or other obligation of Borrower or Trustor to Lender, <br />whether existing now or later. <br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, <br />or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party <br />dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the <br />Indebtedness. <br />Adverse Change. A material adverse change occurs in Borrower's or Trustor's financial condition, or Lender <br />believes the prospect of payment or performance of the Indebtedness is impaired. <br />Insecurity. Lender in good faith believes itself insecure. <br />Existing Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is <br />not made within the time required by the promissory note evidencing such indebtedness, or a default occurs under <br />the instrument securing such indebtedness and is not cured during any applicable grace period in such instrument, <br />or any suit or other action is commenced to foreclose any existing lien on the Property. <br />Right to Cure. If any default, other than a default in payment, is curable and if Trustor has not been given a notice <br />of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if <br />Trustor, after Lender sends written notice to Borrower demanding cure of such default: (1) cures the default <br />within fifteen (15) days; or (2) if the cure requires more than fifteen (15) days, immediately initiates steps which <br />Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and <br />completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. <br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, <br />Trustee or Lender may exercise any one or more of the following rights and remedies: <br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Note <br />secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and <br />the same shall thereupon become due and payable without any presentment, demand, protest or notice of any <br />kind. Thereafter, Lender may: <br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver <br />appointed by a court and without regard to the adequacy of its security, enter upon and take possession <br />of the Property, or any part thereof, in its own name or in the name of Trustee, and do any acts which it <br />deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part of <br />the Property or interest in the Property; increase the income from the Property or protect the security of <br />the Property; and, with or without taking possession of the Property, sue for or otherwise collect 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 attorneys' 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 Documents 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 foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically <br />enforce any of the covenants hereof; and <br />(c) Deliver 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 and remedies <br />of a secured party under the Nebraska Uniform Commercial Code. <br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained, <br />Lender shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts <br />and evidence of expenditures made and secured by this Deed of Trust as Trustee may require. <br />(a) Upon receipt of such notice from Lender, Trustee shall cause 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 such time as may then be required by law and after <br />recordation of such Notice 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 purchaser 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 />