|
... . x,� .
<br /> .
<br /> 04-09-1999 99— 1.��852 MORTGAGE Page 6
<br /> Loan No 763540 (Continued)
<br /> UCC Remedies. With resp�t to all or any part of the Personal Property,Lender shall have alt the rights and remedies of a secured party under
<br /> the Uniform Commercial Code.
<br /> Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Property and collect the Rents, including
<br /> amounts past due and unpaid, and apply the net proceeds> over and above Lender's costs, against the Indebtedness. In furtherance of this
<br /> right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. If the Rents�are
<br /> collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment
<br /> thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response
<br /> to Lender's demand shall satisfy the obligations for which the payments are made,whether or not any proper grounds for the demand existed.
<br /> Lender may exercise its rights under this subparagraph either in person,by agent,or through a receiver.
<br /> Appoint Recelver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property,with the power
<br /> to protect and preserve the Property,to operate the Property preceding foreclosure or sale,and to collect the Rents from the Property and apply
<br /> the proceeds,over and above the cost of the receivership,against the Indebtedness. The receiver may serve without bond if permitted by law.
<br /> Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a
<br /> substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver.
<br /> Judicial Foreclosure. Lender may obtain a judiciai decree foreclosing Grantor's interest in all or any part of the Property.
<br /> Nonjudicial Sale. If permitted by applicable law, Lender may foreciose Grantor's interest in all or in any part of the Personal Property or the
<br /> Real Property by nonjudicial sale.
<br /> Deflciency Judgment. If E�ermitted by applicable law, Lender may obtain a judgment for any deficiency remaining in the Indebtedness due to
<br /> Lender after application of all amounts received from the exercise of the rights provided in this section.
<br /> Tenancy at Sufierance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise
<br /> becomes entitled to possession of the Property upon default of Grantor,Grantor shall become a tenant at sufferance of Lender or the purchaser
<br /> of the Property and shall, at Lender's option, either (a) pay a reasonable rentai for the use of the Property, or (b) vacate the Property
<br /> immediately upon the demand of Lender.
<br /> Other Remedles. Lender shall have all other rights and remedies provided in this Mortgage or the Note or available at law or in equity.
<br /> Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all right to have the property marshalled. In
<br /> exercising its rights and remedies,Lender shall be free to sell all or any part of the Property together or separately, in one sale or by s?parate
<br /> sales. Lender shall be entitied to bid at any public sale on all or any portion of the Property.
<br /> Notice of Sale. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time
<br /> after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice given at
<br /> least ten(10)days before the time of the sale or disposition.
<br /> Walver;Election ot Remedies. A waiver by any party of a breach of a provision of this Mortgage shall not constitute a waiver of or p'rejudice
<br /> the party's rights otherwise to demand strict compliance with that provision or any other provision. Election by Lender to pursue any remedy
<br /> shall not exclude pursuit of any other remedy, and an election to make expenditures or take action to perform an obligation of Grantor under
<br /> this Mortgage after failure of Grantor to perform shall not affect Lender's right to declare a default and exercise its remedies under this Mortgage.
<br /> Attorneys' Fees; F�cpenses. If Lender institutes any suit or action to enforce any of the terms of this Mortgage, Lender shall be entitled to
<br /> recover such sum as the court may adjudge reasonable as attorneys' fees at trial and on any appeal. Whether or not any court action is
<br /> involved,all reasonable expenses incurred by Lender that in Lender's opinion are necessary at any time for the protection of its interest or the
<br /> enforcement of its rights shall become a pa�t of the Indebtedness payable on demand and shall bear interest from the date of expenditure until
<br /> repaid at the rate provided for in the Note. Expenses covered by this paragraph include,without limitation, however subject to any limits under
<br /> applicable law,Lender's attorneys'fees and Lender's legal expenses whether or not there is a lawsuit, including attorneys'fees for bankruptcy
<br /> proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals and any anticipated post-judgment collection
<br /> services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees, and title
<br /> insurance,to the e�ent permitted by applicable Iaw. Grantor also wili pay any court costs,in addition to all other sums provided by law.
<br /> NOTICES TO GRANTOR AND OTHER PARTIES. Any notice under this Mortgage, including without limitation any notice of default and any notice
<br /> of sale to Grantor,shall be in writing, may be sent by telefacsimile(unless otherwise required by law),and shall be effective when actually delivered,
<br /> or v�hen deposited with a nationally recognized overnight courier, or,if mailed,shall be deemed effective when deposited in the Unite:d States mail
<br /> first class,certified or registered mail,postage prepaid,directed to the addresses shown near the beginning of this Mortgage. Any party may change
<br /> its address for notices under this Mortgage by giving formal written notice to the other parties,specifying that the purpose of the notice is to change
<br /> the party's address. All copies of notices of foreclosure from the holder of any lien which has priority over this Mortgage shall be sent to Lender's
<br /> address, as shown near the beginning of this Mortgage. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's
<br /> current address.
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Mortgage:
<br /> Amendments. This Mortgage,together with any Related Documents,constitutes the entire understanding and agreement of the parties as to
<br /> the matters set forth in this Mortgage. No alteration of or amendment to this Mortgage shall be effective unless given in writing and signed by
<br /> the party or parties sought to be charged or bound by the aiteration or amendment.
<br /> Applicable Law. This Mortgage has been delivered to Lender and accepted by Le�der in the State oi Nebraska. This Mortgage shall be
<br /> governed by and construed in accordance with the laws of the State of Nebraska.
<br /> Caption Headings. Caption headings in this Mortgage are for convenience purposes only and are not to be used to interpret or define the
<br /> provisions of this Mortgage.
<br /> Merger. There shall be no merger of the interest or estate created by this Mortgage with any other interest or estate in the Property at any time
<br /> held by or for the benefit of Lender in any capacity,without the written consent of Lender.
<br /> Multiple Parties. All obiigations of Grantor under this Mortgage shall be joint and several,and all references to Grantor shall mean each and
<br /> every Grantor. This means that each of the persons signing below is responsible for all obligations in this Mortgage.
<br /> Severability. If a court of competent jurisdiction finds any provision of this Mortgage to be invalid or unenforceable as to any person or
<br /> circumstance, such finding shall not render that provision invalid or unenforceable as to any other persons or circumstances. If feasible, any
<br />
|