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202401002
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Last modified
3/11/2024 11:40:12 AM
Creation date
3/11/2024 11:40:10 AM
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DEEDS
Inst Number
202401002
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202401002 <br />10. GOVERNING LAW. This security instrument and the obligations which it <br />secures shall be governed by Nebraska Law. <br />11. ASSIGNMENT. As additional security, Borrower irrevocably assigns, <br />grants and conveys to Lender (subject to the terms of the NAHTF program) all the right, <br />title, and interest in the following: (a) existing or future leases, subleases, licenses, <br />guaranties and any other written or verbal agreements for the use and occupancy of the <br />subject property, including, but not limited to, any extensions, renewals, modifications, <br />or replacements, and (b) rents, issues and profits, royalties, revenues, proceeds, accounts, <br />contract rights, general intangibles, and all other rights and claims which Borrower may <br />have that in anyway pertain to or are on account of the use or occupancy of the whole or <br />any part of the subject property. In the event any such items assigned by Borrower to <br />Lender in this section are determined to be personal property, this assignment shall also <br />be regarded as and shall constitute a security agreement. <br />occur: <br />12. DEFAULT. Borrower will be in default if any one or more of the following <br />(a) Borrower defaults under the terms of the 2023 NAHTF program and becomes <br />disqualified, ineligible, uncompliant, or otherwise unable to perform its <br />obligations under the terms of the 2023 NAHTF program for any reason; <br />(b) a breach of any term or covenant in this Deed of Trust or in any other document <br />evidencing, guaranteeing, securing, or otherwise relating to the indebtedness <br />secured by this Deed of Trust; <br />(c) the making or furnishing of any verbal or written representation, statement, <br />or warranty to Lender that is false or incorrect in any material respect by <br />Borrower or any person or entity obligated on the indebtedness secured by this <br />Deed of Trust; and/ or <br />(d) the filing of a bankruptcy case in which the Borrower is named as a debtor. <br />13. ADDITIONAL REMEDIES UPON DEFAULT/POWER OF SALE. If <br />Borrower is in default, Lender may accelerate its power of sale, and other obligations <br />secured hereby and foreclose this Deed of Trust in a manner provided by law. If <br />applicable, at the option of the Lender, all or any part of the indebtedness secured by this <br />Deed of Trust shall become immediately due and payable upon the occurrence of a default <br />or anytime thereafter. In addition, Lender shall be entitled to all the remedies provided <br />by law, the Promissory Note(s), the other written evidences of debt, this Deed of Trust, <br />and any related documents including, but not limited to, the power to sell the property <br />which is the subject of this Deed of Trust. <br />If the power of sale is invoked, Trustee shall record a notice of default in each county in <br />which any part of the property is located and shall mail copies of such notice to each party <br />Page 6 of 8 <br />
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