|
F_
<br />10 RB1111AHD188 NOT EXCLUSIVE. Trustee and Beneficiary• and each of them. shall be entitled to enforce payment and perlormance of any
<br />Indebtedness or obligations secured hereby and to exercise all rights and powers under this Trust Deed or under any other Agreement executed
<br />in connection herewith or any laws now or hereafter in force• notwithstanding some or all of the such indebtedness and obligations secured
<br />hereby may now or hereafter be otherwise secured, whether by mortgage, trust deed• pledge. hen, assignment or otherwise. Neither the
<br />acceptance of this Trust Deed not its enforcement whether by court action or pursuant to the power of sale or other powers herein contained, shall
<br />prejudice or in any manner affect Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee or
<br />Beneficiary, it being agreed that Trustee and Beneficiary, and each of them, shall be entitled to enforce this Trust Deed and any other security now
<br />or hereafter held by Beneficiary or Trustee in such order and manner as they or either of them may in their absolute discretion determine No
<br />rergsdXllel�iprygltlerred upop pr reserved to Trustee or Banoliciary is intended to be exclusive of any other remedy herein or by law provided or
<br />permitted, buteeaph shall On cumulative and shall be In addition to every other remedy given horeunder or now or hereafter existing at law or
<br />equity of byfltalute. EYory power or remedy provided under this Trust Deed to Trustee or Beneficiary or to which either of them may be otherwise
<br />wAtiNsd; rOWbbexeroleed,concurrently or independently, from time lolime and asoflen as may be deemed expedient by Trustee or Beneficiary
<br />and either of them may pursue inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a deficiency
<br />Judgment against the Truster to the extent such action is permitted by law
<br />11 TRANSFER OF THE PROPERTY; ASSUMPTION. It all or any part of the Property or interest Iherem is sold, transferred or otherwise
<br />conveyed by Trustor without Beneficiary's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Trust
<br />Deed. (bl a transfor by operation of law upon the death of a Trustor who is a joint tenant or (c) the grant of any leasehold interest of throo (3) years or
<br />less which does not contain an option to purchase, such action Is a breach of this agreement, and Beneficiary may, at Beneficiary's option,
<br />declare atilh6 sums securedby this Trust peed lobe Immediately due and payable, provided, further, this Trust Deed may, at Beneficiary's option,
<br />be declared Immedialo4v due and pavah }e it (1) Trustor Is a partnership and any Interest in the partnership is sold or assigned by any means
<br />whatsoever, or (2l if the Trustot is 41 corpo alyon and a transfer of the majority stock ownership interest in the corporation occurs• or the Truster
<br />corporation merges in any loom with anot"o- gmporalion or entity. Beneficiary shall have waived such option to accelerate d• prior to the sate,
<br />( transferor conveyanco. Benaf rclaryandtheporsontowhomthePropertylstobesoldortransferredreachagreementinwritingthalthecreditof
<br />1 such person is satlsfactoryloBeneflciaty and vital Me interest payable on the sums secured by this Trust Deed shall boat such rate as Beneficiary
<br />shall request
<br />12. ACCELERATION UPON DEFAULT; REMEDAES; SALE. The failure by the T rustor, to make any payment or to perform any of the terms and
<br />conditions of this Trust Deed, or the terms and conuttions of the Nola, or any renewals, modifications or extensions thereof• or the failure to make
<br />I
<br />paymcrta! any, lift ,- indeb.edness,priceer sues equenit telihlsTrustDeer1•{ IntlgArti radbythinproperly. orthwdeathnfnnenrmoresTrllslnrsshAll
<br />be a breach avid default or this Trust Deed and the Beneficiary may declare a default and may declare all sums secured hereby immediately due
<br />and payable andthe same shalt thereupon become due and payable without presentment• demand, protest or notice of any kind, provided. Truster
<br />shall have any statutory right to cure the default before any notice of default and demand for sale may be delivered to the Trustee Thereafter.
<br />r
<br />Beneliclary may deliver to Trustee a written declaration of default and demand for sole. Trustar agrees and hereby grants Ihat Iho Trustee sha11
<br />t.
<br />have the power of sale of the Property and If Beneliclary decides the Properly is to be sold it shall deposit with Trustee Ihis Trust Deed and the Note
<br />I.
<br />or notes and any other documents evidencing expenditures secured hereby• and shall deliver to Trustee a written notice of default and election In
<br />cause the properly to be sold, and Trustee, in turn, shall prepare a similar notice in the form required bylaw. which shall beduly filed for record by
<br />Trustee.
<br />(a) Alter the lapse of such time as maybe required bylaw following the recordation of Notice of Default. and Notice of Detault anti Notice
<br />of Sale having been given as required by law. Trustee, without demand on Truslor. shall sell tho Property if not rpdoemed. In one at
<br />I more parcels and in such order as Trustee may determine on the date and the time and place designated in said Notice of Sale, at
<br />public auction according to law.
<br />(b) When Trustee sells pursuant lothe powers herein. Trustee shall applythe proceeds olthe sale to payment ollhe costs and expenses
<br />of exercising the power of sale and of the sale, Including, without limitation• attorney s fees and the payment of Trustee's Fees
<br />Incurred. which Trustee's Fees shall not in the aggregate exceed the !iollowing amounts based upon the amount secured hereby, and
<br />remaining unpaid at the time scheduled for sale* 5 percentum on me balance thereof; end then to the Items in subparagraph (c) in the
<br />order there stated.
<br />(c) After paying the Items specified in subparagraph (b), if the sale Is by Trustee. or if the sale is pursuant to judicial foreclosure, the
<br />t proceeds of sale shall be applied to fire following order-
<br />(111 Cost of any evidence of title procured in connection with such sale and of any revenue transfer fee required to be paid.
<br />(2) All obligations secured by this Trust Deed;
<br />I (3) Junior trust deeds, mortgages, or other lienholders.
<br />( (4) The remainder• if any. to the person legally entitled Ine veto .
<br />=-
<br />13. APPOINTIMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from lime fc line, t;y a written Instrument executed and acknowledged by
<br />Beneficiary, mailed to Trustor and recorded in r-! -v ;:ounly or counties in whit n the f +oaerly is located and by otherwise complying wdh the
<br />provisions of the applicable laws of the State of Nebraska substitute a successor or suc cessois to the Trustee named herein or acting hereunder
<br />14. INSPECTIONS. Beneficiary, or its agents, representatives or employees. are authorized to enter at any reasonable time upon or In any part
<br />of the Properly for the purpose of inspecting the same and for the purpose of performing any of the acts it is authorized to perform under the terms
<br />of the Trust Deed.
<br />15. OPTION TO FORECLOSURE. Upon the occurrence of arty breach and upon the declaration of default hereunder Beneficiary shall have the
<br />option to foreclose this Trust Deed Ic the manner provided by .uw for the foreclosure of mortgages on real property
<br />18- FORESEARANCE IDYSENEFICCARYOR TRUSTEE NOT A WAIVER. A ^v lorebearar ce Dy Puce : -ivy or Trustee rnexcruslog any right ur
<br />remedy hereunder. ar ott►erwlse afforded ny afa. k:acle law• shall not be a waiver of or precluoe the exercise or any such right or remedy Likewise.
<br />the waiver by Benoffi¢ra *y or Trustee of arny ar lau.lr of Truslor under this Trust Dead shall, rot be deemed to be a waiver of any other or similar
<br />defaults subsequently occurring.
<br />17 !BENEFICIARY'S POWERS. Vw:rnoL r allftecimg or releasing the liability DI the Tres;a .,r any ptntee Carson '•ao a for 'he
<br />obligation herein meerri.c.red, and without alloc crag he lien or charge of fnts T •.;jl Deed uLrn any p ;, r o,r u, ^ ie Piopt`ity. Bepe',r -i°. ^•8
<br />time to time and with"", swallce at the request r.,I, 3n.i- or mote Truslors. (i, trele;o,,pany person liable rlerru,r•c�rrcrnewlneman.rry <.••,-,:
<br />t the terms of any such obligations. (In) grant oflr** .ndulgences. pvl release or reconvey or r.ausr_ Ir T i e eased r.r recnnveya,s a'' u ^ ^•: ,,
<br />Beneficiary's option any parcei or alt of the Property. (v) take or release any other or add,linnhi sec ,.rrry for any ow.gi r•nn neep,r rpr : r d4
<br />make settlements or other arrangements with Trustor in relation thereto All TruStOry titian ne ,,:, r+y r,r d fiever al•y :,n., , ;.,r,,• :.,r ", : .. ^, Li Ina -
<br />actions of the Beneficiary or any one or more Trustor as slated in this paragraph
<br />18 ATTORNEY FEES, COSTS AND EXPENSES. The Beneficial y of this Trust Ot &e4l •s entrtir•,t To vie l'aynionl (it allo'llev S fops , uati ,+ern
<br />expenses as provided in this Trust Deed, except as otherwise prohibited by law
<br />d'
<br />19 RECONVEYANCE BY TRUSTEE. Upon women request of Bellohr,,uy anti till-, vaynrpnt by 1,11slu, ,,r T tu"It,t, , I„rti i,util,•e• .,
<br />�.
<br />Iecun veytoIrustut. of the per sun of pet sons legally entitled thereto wdhoutwatrarily , fnyporbr, nt, itrrt,{, rupr ,tytrrt•r,iv•,nru, „',,,,,I,, i+r, I,r. ,
<br />Such reconveyancly of any mallets or facts shall be r Vnclusive I)#ool of the itullifullipss IltNtt•rA Ihr• tp,tnh•.• .t, .ley n•t ,u,,.•,.t ^ „• ^•t, I',
<br />described as the person or persons legally entitled thereto
<br />r'
<br />w -
<br />,
<br />
|