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201903152
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201903152
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Last modified
12/9/2019 6:24:50 PM
Creation date
6/3/2019 4:10:25 PM
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DEEDS
Inst Number
201903152
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201903152 <br />D. Trustor agrees that upon or at any time after (1) the occurrence and <br />continuance beyond any applicable grace or cure period of an Event of <br />Default hereunder, under the Loan Agreement, or under the Note or the <br />other Loan Documents, or (2) the recordation of a notice of public trustee <br />sale for the foreclosure of this Deed of Trust pursuant to applicable <br />Nebraska law, or (3) the commencement of an action to foreclose this Deed <br />of Trust pursuant to applicable Nebraska law, or (4) the commencement of <br />any period of redemption after foreclosure of this Deed of Trust, <br />Beneficiary shall, in any such event, and at any such time, upon application <br />to the court of competent jurisdiction in the county where the Mortgaged <br />Property or any part thereof is located, by an action separate from the <br />foreclosure, in the foreclosure action, or by independent action (it being <br />understood and agreed that the existence of a foreclosure or a foreclosure <br />action is not a prerequisite to any action for a receiver hereunder), be <br />entitled as a matter of right, without notice (notice being hereby expressly <br />waived) and without giving bond to Trustor, to the appointment of a <br />receiver for the Mortgaged Property and for the Rents, issues, profits and all <br />other income of every kind which shall accrue and be owing for or from the <br />use or occupancy of the Mortgaged Property or any part thereof, whether <br />before or after foreclosure, or during the full statutory period of redemption, <br />if any. <br />E. Provided an Event of Default has occurred and has not been cured, <br />Beneficiary shall be entitled as a matter of right to the appointment of a <br />receiver without regard to waste, adequacy of the security or solvency of <br />Trustor. The court shall determine the amount of the bond to be posted by <br />the receiver. The receiver, who shall be an experienced property manager, <br />shall collect (until the Secured Indebtedness is paid in full and, in the case <br />of a foreclosure sale, during the entire redemption period, if any) the Rents, <br />issues, profits and all other income of any kind from the Mortgaged <br />Property, manage the Mortgaged Property so as to prevent waste, execute <br />leases within or beyond the period of the receivership, if approved by the <br />court, and apply all Rents, issues, profits and other income collected by him <br />in the following order or as otherwise set forth in the receivership order: <br />i. to payment of all reasonable fees of the receiver, if any, <br />approved by the court; <br />ii. the payment of real property taxes and assessments, insurance <br />premiums, utilities and repayment of Tenant security deposits; <br />iii. to expenses for normal maintenance, operation and management <br />of the Mortgaged Property, including but not limited to <br />Beneficiary's out-of-pocket costs and all other costs and <br />expenses which Beneficiary is entitled to pay or incur pursuant <br />to this Deed of Trust and/or the other Loan Documents; and <br />13 <br />
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