200009898 - Laserfiche WebLink

Browse

20,0009898 this power of sale, the proceeds shall be applied first to the payment of the costs and expenses of exercising the power of sale, including the fee of the Trustee in an amount not to exceed two per cent (2 %) of the sale price then to the payment of the obligation secured by the Deed of Trust and the balance, if any, to the person or persons legally entitled thereto. 12. ACCELERATION IN THE EVENT OF TRANSFER. In the event the title to the said real estate is transferred, or contracted to be transferred, from the undersigned for any reason or by any method whatsoever, the entire principal sum and the accrued interest shall at once become due and payable at the election of the Beneficiary. Failure to exercise this option because of transfer of title as above stated in oneyinstance shall not constitute a waiver of the right to exercise the same in the event of any subsequent transfer. 13. DUTIES OF TRUSTEE. Borrower agrees that: (a) Duties and obligations of Trustee shall be determined solely by the express provisions of this Deed of Trust and Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth herein, and no implied covenants or obligations shall be imposed upon Trustee; (b) No provisions of this Deed of Trust shall require Trustee to expend or risk its own funds, or otherwise incur any financial obligation in the performance of any of its duties hereunder, or in the exercise of any of its rights or power; (c) Trustee may consult with counsel of its own choosing and the advice of such counsel shall be full and complete authorization and protection in the respect of any action taken or suffered by it hereunder in good faith and reliance thereon; and (d) Trustee shall not be liable for any action taken by it in good faith and reasonably believed by it to be authorized or within its discretion or rights or powers conferred upon it by this Deed of Trust. 14. RECONVEYANCE. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. 15. HAZARDOUS MATERIALS. Borrower shall keep the Property in compliance with all applicable laws, ordinances and regulations relating to industrial hygiene or enviornmental protection (collectively referred to herein as " Bnviornmental Laws ") Borrower shall keep the Property free from all substances deemed to be hazardous or toxic under any Enviornmental Laws (collectively reffered to herein as "Hazardous Materials "). Borrower hereby warrants and represents to Lender that there are no Hazardous Materials on or under the Property. Borrower hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees and agents, and any successors to Lender's interest, from and against any and all claims, damages, losses and liabilities arising in connection with the claims, damages, losses and liabilities arising in connection with the presents, use, disposal or transport of any Hazardous Materials on, under, from or about the Property. THE FOREGOING WARRANTIES AND REPRESENTATIONS AND BORROWER'S OBLIGATIONS, PURUSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST. 16. This Deed of Trust shall be binding upon the parties hereto and all their assigned and heirs. DATED this 10th day of November, 2000. L Douglas & Fotinos Adams County Bank TRUSTEE & BENEFICIARY/LENDER BY: Mark keiser, E ecutive Vice President STATE OF NEBRASKA ) ) ss. COUNTY OF ADAMS ) The foregoing instrument was acknowledged before me this 10th day of November, 2000 by Douglas G Fotinos and Beth M Fotinos, Husband & Wife, in their own right, and they acknowledge the execution of the above Deed of Trust to be their voluntary act and deed. GENERAL NOTARY-WO of Nebraska DENNIS R. UTTER My Comm. Up. March 4, 2003 Notary I