Laserfiche WebLink
201902090 <br />$80,000.00. Such insurance policy shall contain a standard mortgage clause in favor of Beneficiaries and shall <br />not be cancelable, terminable, or modifiable without ten (10) days prior written notice to Beneficiaries. <br />Trustors shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for <br />ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the Trustors commit waste on or <br />to the Trust Estate. <br />4. ACTIONS AFFECTING TRUST ESTATE. Trustors shall appear in and contest any action or <br />proceeding purporting to affect the security hereof or the rights or powers of Beneficiaries or Trustee, and shall <br />pay all costs and expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding <br />in which Beneficiaries or Trustee may appear. Should Trustors fail to make any payment or to do any act as and <br />in the manner provided in any of the Loan Instruments, Beneficiaries and/or Trustee, each in its own discretion, <br />without obligation, may make or do the same in such manner and to such extent as either may deem necessary to <br />protect the security hereof. Trustors shall, immediately upon demand therefore by Beneficiaries, pay all costs and <br />expenses incurred by Beneficiaries in connection with the exercise by Beneficiaries of the foregoing rights, <br />including, without limitation, costs of evidence of title, court costs, appraisals, surveys and attorney's fees. Any <br />such costs and expenses not paid within ten (10) days of written demand shall draw interest at the default rate <br />provided in the Note. <br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken or <br />damaged by reason of any public improvement or condemnation proceeding, or in any other manner including <br />deed in lieu of Condemnation ("Condemnation"), or should Trustors receive any notice or other information <br />regarding such proceeding, Trustors shall give prompt written notice thereof to Beneficiaries. Beneficiaries shall <br />be entitled to all compensation and condemnation awards and other payments or relief therefore, and shall be <br />entitled to make any compromise or settlement in connection with such taking or damage. All such compensation <br />and condemnation, awards, damages, rights of action and proceeds awarded to Trustors (the "Proceeds") are <br />hereby assigned to Beneficiaries; and Trustors agree to execute such further assignments of the Proceeds as <br />Beneficiaries or Trustee may require. <br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiaries may, from time to time, by a <br />written instrument executed and acknowledged by Beneficiaries, mailed to Trustors and recorded in the County <br />in which the Trust Estate is located and by otherwise complying with the provisions of the applicable law of the <br />State of Nebraska substitute a successor or successors to the Trustee named herein or acting hereunder. <br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all <br />parties hereto, their heirs, legatees, devisees, personal representatives, successors and assigns. The term <br />"Beneficiaries" shall mean the owner and holder of the Note, whether or not named as Beneficiaries herein. <br />8. INSPECTIONS. Beneficiaries, or its agents, representatives or workmen, are authorized to enter at <br />any reasonable time upon or in any part of the Trust Estate for the purpose of inspecting the same and for the <br />purpose of performing any of the acts it is authorized to perform under the terms of any of the Loan Instruments. <br />9. EVENTS OF DEFAULT. Any of the following events shall be deemed an event of default <br />hereunder: <br />(a) Trustors shall have failed to make payment of any installment of interest, principal, or principal and <br />interest or any other sum secured hereby when due; or, <br />(b) There has occurred a breach or default under any term, covenant, agreement, condition, provision, <br />representation, or warranty contained in any of the Loan Instruments. <br />10. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should an event of default <br />occur, Beneficiaries may declare all indebtedness secured hereby to be due and payable, and the same shall <br />thereupon become due and payable without any presentment, demand, protest, or notice of any kind. Thereafter <br />the Beneficiaries 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 of the <br />Trust Estate, or any part thereof, in its own name or in the name of Trustee, and do any acts which it deems <br />necessary or desirable to preserve the value, marketability or rent -ability of the Trust Estate, or part thereof or <br />interest therein, increase the income therefrom or protect the security hereof, and with or without taking <br />possession of the Trust Estate, sue for or otherwise collect the rents, issues and profits thereof, including those <br />past due and unpaid, and apply the same, less costs and expenses of operation and collection, including attorney's <br />fees, upon any indebtedness secured hereby, all in such order as Beneficiaries may determine. The entering upon <br />and taking possession of the Trust Estate, the collection of such rents, issues and profits and the application <br />thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done <br />in response to such default or pursuant to such notice of default and, notwithstanding the continuance in <br />possession of the Trust Estate or the collection, receipt and application of rents, issues or profits, Trustee or <br />Beneficiaries shall be entitled to exercise every right provided for in any <br />of the Loan Instruments or by law upon occurrence of any event of default, including the right to exercise the <br />power of sale; <br />