200400218 - Laserfiche WebLink

Browse

200400214 7. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written instrument executed and acknowledged by Beneflinny, mailed to Truster and Recorded in the County in which the Trust Estate is located and by otherwise complying with the provisions of the applicable law of the State of Nebraska substitute a successor ar successors to the Trustee earned herein or acting hereunder. H. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, divorcee, personal representatives, successor, nod asaigns'I'he term "Beneficiary" shall mean the owner and holder of the Note, whether or not named as Beneficiary herein. 9. INSPECTION. Beneficiary or its agent may make reasonahle entries upon and inspection, of the Property. Beneficiary shall give'llastor notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10.TRUSTORNOTBE1,KASED: FORBEARANCE BY BENK!,ICIARY NOT AWAIVER. Extension of the time for payment or nddficatien of aaam Li¢aGnn at the e orms secured by this Sceurity Instrument granted by Benef 'ary to one successor in interest. ntT,usfia shall noL opa,ate to release the liability of the original Tension or'fruelof's suceeasors in interest. Beneficiary shall flat be required to rnmmena proceedings against any successor in interest or refuse in extend time for payment or otherwise modify auurti a tin, of 'the sums secured by this Security Instrument by reason of u,sv demand made by the original Trustor or A rustor'a sucanssmo in interest. Any forbearance by Beneficiary in exercising any right or remedy shall not be a amver of or preclude the exercise of any right or remedy. 11. TRANSFER OF THE PROPERTY OR A BENEFICIAL IN'T'EREST IN TRU'STOR. Hall or any part of the Property or any interest in it is sold or tri nsfon'oI (or if a beneficial interest in Trustor is sold or transferred and Trustor is not a natural person) I Almut Beneficiary, prior w, ja cn consent, Beneficiary sag it its option, require immediate payment in full of ell sums eecmvd by this Sceurity Instrument, however, this option shall not be exercised by Beneficiary if exercise is prohibited by federal law as of the date of this Security Lnstmment. If Bwieficany exercise, this option. Beneficiary shall give Trustor nonuse of acceleration. The nonce, shall provide a period of not less than 30 days from the date the notice is delivered or ,nailed within which the Trus fur must pay all sum, secured by this Security Instrument. If Truster fails to pay these sums prior to [lie expiration of this period. Beneficiary may invoke any remedies permitted by this Security Instrument without fincher notice or demand on Trustee 12. EVENTS OF DEFAULII My of the following events shall be deemed an event of default hereunder: a. T, it,,, hall have failed W nufke paynnent of any installment of interest, principal, or principal and interest or any other such secured hereby when due; or b. There has nn(urred a breach of or default under any term, covenant, agreement, condition, provision, represen- tation or warranty contained in any of the Loan Instruments. 13. ACCELERATION; REMEDIES. Beneficiary shall give nuance of default to Trustor print to acecleraton following T,ustcr's breach of any covenant ar agreement in this Trust Won. The notice shall specify: is) the default; Ib) the action required to cure the default tee a date, not less than 30 days from the date the notice is given to Truster, by which the default must be cured- and (d 1 that failure to cure the default on or before Um date specified in the notice may result in acceleration of the sums secured by this Security Instieffivnt and sale of the Property. The notice shall further inform Trustor of the fight to reinstate after aurelmation and the right to bring a curt action to assert the non- exis'teua of et default or any other defense of Tai stir to acceleration and sale if the default is not cured on or before the date .specified in the notice, Beneficiary it it, option nay require immediate payment in full of all sums secured by Llde Security Instrument without furtlmf demand and may invoke the power of sale and any other remedies permitted by applicable law. Tio bur shall k he entitled to collect all expenses incurred in pursuing the remedies provided in this pa,ngraph 13, including, hat not limited to reasonable otters vs fee, and ... is of title. evidence U power of sole is invoked. Trustee shall record a unfit, ni default in each county in which any part of the Property is located and shall mail copies of such notice in the manner prescribed by upplicahle law to Truster and to the other persons preset bed by applicable Iasi After the time required by applicable law, Trustee shall give public notice of sale to the persons and in the manner prescribed by applic- able law. Trustee, without demand un Trustee, shall sell the Property at public auction to the highest hidder, at the tittle and place and under the terns designated in the notice of sale in ome or more parole and in any civil, Ti carve determines. 'I'cu tee may puatpune sole of all or any parcel of the Property by public announcnmmnt at the time and place of any pre- viously scheduled .sale. Beneficiary or its c1p,mee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee ehnll deliver to the purchaser Trustee's deed conveying the Property The recitals in the Trustee's decd shall be prima facie evidence of the truth of the statements made therein Trustee shall apply the proceeds of tin lisle in the following ,,der (a) to all expenses of Lhe sal,, including, but not limited to, Trustee's fees as permitted by upplicable law and rea,anable inborn, *, fees, fbl to all sums severed by this Security instrument; all(] (c) any excess to the person or persons legally entitled to it 19. RPNEFICIARY IN POSSESSION. Upon acceleration under paragraph 13 or abaicommnt of the Property, Beneficiary (in person, by agent or by,judiciallc appointed receiver) shall be entitled to order upon, take possession of and manage the Properly and to collect tho rents of the Property including those past due. Any rents collected by Beneficiary or the receiver shall he appBed first to payment of the alts of management of the Property and collection of rents, includ- ing, but at limited to reedier', fees, premiums on eveniver's bonds and reasonable s ttmncy's fees, and then to the sums secured by this Security Instrument. 1.9 REMEDIES NOT E%C'.LUSIVE_ Trustee nerd Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebteducss or obligations secured hereby and to exercise all rights and powers under this heed of Trust or under any Loan Instrument or other avrecment or any laws now or hereafter in force, notwithstanding some it all of the Kush Indebtedness and obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of trust. pledge, lieu, assignment or otherwise. Neither the acceptance of this Deed ofTrust nor its cnforce- encal whether by court action or pursuant to the power of sale or other powers herein contained, shall prcjudire or in any manner affect Trustee's or Bcneftciary's right to realize upon or enforce any other security now or hereafter held by Trustee of Beuciieiwr u being agreed CmtTrustee and Beneficiary, and each of them, shall he entitled W enforce this Deed ofTrust and any oLlor security now or hereafter held by Beneficiary or Trustee in such order and manner as they or ei0mr of them may in the,, absolute dis'crction determine_ No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedv herein or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. Every power or remedy given by any of the Loan lnetrumemts to Trustee or Beneficiary or to which either of them may be otherwise entitled, may be exercised, concurrently of independently, from time to Lime and as often as may he deemed expe- dient by Trustee or Beneficiary and either of them may pursue inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a def oicncy judgment against the Trustor to the extent such action is permitted by law, 16. GOVERNING LAW. This Deed of shall be governed by the Iowa of the State of Nehraaka. In the event that any provision nr clause of any of the Loon Instruments conflicts with applicable laws, such conflicts shall not affect other provisions of such Loan Instruments which can be given effect without the conflicting provision, and to this end the pro- visions of the Loan Instruments are declared to be severable This instrument cannot be waived, changed, discharged or termimatcd orally but only by an instrument in writing signed by the party against whom enforcement of any waiver, change, discharge or nua lnation is sought. 17. RECONVEYANCE. Upon payment of all some secured by this Security Instrument, Beneficiary shall request Trustee to reanvey the Property sod ,hall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall ....here the Property without warranty and without charge to the per- son or persons legally entitled to it. Such person or persons shall pay any recordation costs.