|
202103657
<br />incompetent, or revokes or disputes the validity of or liability under any Guaranty
<br />of the Indebtedness;
<br />(1) The sale, transfer, assignment, conveyance, or further encumbrance of
<br />all or any part of or any interest in the Property, either voluntarily or involuntarily,
<br />without the express written consent of Lender or as otherwise permitted herein;
<br />(m) Abandonment of the Property;
<br />(n) A material adverse change occurs in Borrower's or Trustor's financial
<br />condition, or Lender believes the prospect of payment or performance of the
<br />indebtedness is impaired; or
<br />(o) Lender in good faith believes itself insecure.
<br />12. Remedies; Acceleration Upon Default. Upon occurrence of any Event of Default,
<br />Lender may, without notice except as required by law, declare all indebtedness secured hereby to
<br />be due and payable, and the same shall thereupon become due and payable without any
<br />presentment, demand, protest, or notice of any kind. Thereafter, Lender may:
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein,
<br />and Trustee shall thereafter cause Trustor's interest in the Property to be sold and
<br />the proceeds to be distributed, all in the manner provided in the Nebraska Trust
<br />Deeds Act;
<br />(b) Exercise any and all rights provided for in the Note, this Deed of
<br />Trust, or by law; and
<br />(c) Commence an action to foreclose this Deed of Trust as a mortgage,
<br />appoint a receiver, or specifically enforce any of the covenants hereof.
<br />No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of
<br />any other remedy herein, in the Note, or by law provided or permitted, but each shall be
<br />cumulative and shall be in addition to every other remedy given hereunder, in the Note, or now
<br />or hereafter existing at law or in equity or by statute, and may be exercised concurrently,
<br />independently, or successively.
<br />13. Trustee. The Trustee may resign at any time without cause, and Lender may at any
<br />time and without cause appoint a successor or substitute Trustee. Trustee shall not be liable to
<br />any party, including without limitation Lender, Borrower, Trustor, or any purchaser of the
<br />Property, for any loss or damage unless due to reckless or willful misconduct, and shall not be
<br />required to take any action in connection with the enforcement of this Deed of Trust unless
<br />indemnified in writing for all costs, compensation, or expenses that may be associated therewith.
<br />In addition, Trustee may become a purchaser at any sale of the Property (judicial or under the
<br />power of sale granted herein), postpone the sale of all or any portion of the Property as provided
<br />by law, or sell the Property as a whole or in separate parcels or lots at Trustee's discretion.
<br />14. Fees and Expenses. In the event that Trustee sells the Property by exercise of
<br />power of sale, Trustee shall be entitled to apply any sale proceeds first to payment of all costs
<br />and expenses of exercising power of sale, including all Trustee's fees, and Lender's and
<br />Trustee's attorney's fees actually incurred to the extent permitted by applicable law. In the event
<br />that Borrower or Trustor exercises any right provided by law to cure an Event of Default, Lender
<br />shall be entitled to recover from Trustor all costs and expenses actually incurred as a result of
<br />Trustor's default, including without limitation all Trustee's and attorney's fees, to the extent
<br />permitted by applicable law.
<br />15. Future Advances. Upon request of Borrower, Lender may, at its option, make
<br />additional and future advances and re -advances to Borrower. Such advances and re -advances,
<br />with interest thereon, shall be secured by this Deed of Trust. At no time shall the principal
<br />amount of the indebtedness secured by this Deed of Trust, not including sums advanced to
<br />protect the security of this Deed of Trust, exceed the original principal amount stated herein.
<br />16. Miscellaneous Provisions.
<br />(a) Borrower Not Released. Extension of the time for payment, or
<br />modification of amortization, of the sums secured by this Deed of Trust granted
<br />by Lender to any successor in interest of Borrower shall not operate to release, in
<br />any manner, the liability of the original Borrower and Borrower's successors in
<br />interest. Lender shall not be required to commence proceedings against such
<br />successor or refuse to extend time for payment or otherwise modify amortization
<br />of the sums secured by this Deed of Trust by reason of any demands made by the
<br />original Borrower and Borrower's successors in interest.
<br />Page 4 of 6
<br />
|