|
200009395
<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be recorded,
<br />published and delivered to such Notice of Default and Notice of Sale as then required by
<br />law and by this Deed of Trust. Trustee shall, without demand on Trustors, after such time
<br />as may then be required by law and after recordation of such Notice of Default and after
<br />Notice of Sale having been given as required by law, sell the Trust Estate at the time and
<br />place of sale fixed by it in such Notice of Sale, either as a whole, or in separate lots or
<br />parcels or items as Trustee shall deem expedient, and in such order as it may determine, at
<br />public auction to the highest bidder for cash, in lawful money of the United States, payable
<br />at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof, its good
<br />and sufficient deed or deeds, conveying the property so sold, but without any covenant or
<br />warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including, without limitation,
<br />Trustee, and Beneficiary, may purchase at such sale, and hereby covenants to warrant and
<br />defend the title of such purchaser or purchasers.
<br />(b) As may be permitted by law, after deducting all costs, fees, expenses of Trustee
<br />and of this Trust, including costs of evidence of title in connection with sale, Trustee shall
<br />apply the proceeds of sale to payment of (i) all sums expended under the terms hereof, not
<br />then repaid, with accrued interest at sixteen (16 %) percent per annum, (ii) all other sums
<br />then secured hereby, and (iii) the remainder, if any, to the person or persons legally entitled
<br />thereto.
<br />(c) Trustee may, in the manner provided by law, postpone sale of all or any portion
<br />of the Trust Estate.
<br />13. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, and each of them,
<br />shall be entitled to enforce payment and performance of any indebtedness or obligations
<br />secured hereby and to exercise all rights and powers under this Deed of Trust or under any
<br />Loan Instrument or other agreement or any laws now or hereafter in force, notwithstanding
<br />some or all of the such indebtedness and obligations secured hereby may now or hereafter
<br />be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or
<br />otherwise. Neither the acceptance of this Deed of Trust nor its enforcement whether by
<br />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
<br />any other security now or hereafter held by Trustee or Beneficiary, it being agreed that
<br />Trustee and Beneficiary, and each of them, shall be entitled to enforce this Deed of Trust
<br />and any other security now or hereafter held by Beneficiary or Trustee, in such order and
<br />manner as they or either of them may in their absolute discretion determine. No remedy
<br />herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of
<br />any other remedy herein or by law provided or permitted, but each shall be cumulative and
<br />shall be in addition to every other remedy given hereunder or now or hereafter existing at
<br />law or in equity or by Statute. Every power or remedy given by any of the Loan
<br />Instruments to Trustee or Beneficiary or to which either of them may be otherwise entitled,
<br />may be exercised, concurrently or independently, from time to time, and as often as may be
<br />deemed expedient by Trustee or Beneficiary; and either of them may pursue inconsistent
<br />remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a
<br />deficiency judgment against the to the extent such action is permitted by law.
<br />14. REQUEST FOR NOTICE_ Trustors hereby request a copy of any notice of
<br />default, and that any notice of sale hereunder be mailed to them at the address set forth in
<br />the first paragraph of this Deed of Trust.
<br />15. GOVERNING LAW. This Deed of Trust shall be governed by the laws of the
<br />State of Nebraska. In the event that any provision or clause of any of the Loan Instruments
<br />conflicts with applicable laws, such conflicts shall not affect other provisions of such Loan
<br />Instruments which can be given effect without the conflicting provisions; and to this end,
<br />the provisions of the Loan Instruments are declared to be severable. This instrument
<br />cannot be waived, changed, discharged, or terminated orally, but only by an instrument in
<br />writing signed by the party against whom enforcement of any waiver, change, discharge or
<br />termination is sought.
<br />16. RECONVEYANCE BY TRUSTEE. Upon written request of Beneficiary stating
<br />that all sums secured hereby have been paid, and upon surrender of this Deed of Trust and
<br />the Note to Trustee for cancellation and retention and upon payment by Trustors of
<br />
|