|
202404027
<br />LOAN #:12512481
<br />4. Actions Affecting Trust Estate. Truster shall appear in and contest any action or proceeding
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all
<br />costs and expenses, including cost of evidence of title and attorneys' fees, in any such action or proceeding
<br />in which Beneficiary or Trustee may appear. If Trustor fails to make any payment or to do any act as and in
<br />the manner provided in any of the Loan Instruments, Beneficiary and/or Trustee, each in their own discretion,
<br />without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from
<br />any obligation, may make or do the same in such manner and to such extent as either may deem necessary
<br />to protect the security hereof. Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs
<br />and expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights,
<br />including without limitation costs of evidence of title, court costs, appraisals, surveys and attorneys' fees.
<br />5. Eminent Domain. If the Trust Estate, or any part thereof or interest therein, be taken or damaged
<br />by reason of any public improvement or condemnation proceeding, or in any other manner including
<br />deed in lieu thereof ("Condemnation"), or if Trustor receives any notice or other information regarding
<br />such proceeding, Trustor shall give prompt written notice thereof to Beneficiary. Trustor shall be entitled
<br />to all compensation, awards and other payments or relief thereof and shall be entitled at its option to
<br />commence, appear in and prosecute in its own name any action or proceedings. Trustor shall also be
<br />entitled to make any compromise or settlement in connection with such taking or damage.
<br />6. Appointment of Successor Trustee. Beneficiary may, from time to time, by a written instrument
<br />executed and acknowledged by Beneficiary, mailed to Trustor and recorded in the County in which the
<br />Trust Estate is located and by otherwise complying with the provisions of the applicable law of the State
<br />of Nebraska substitute a successor or successors to the Trustee named herein or acting hereunder.
<br />7 Successors and Assigns. This Second Deed of Trust applies to, inures to the benefit of and
<br />binds all parties hereto, their heirs, legatees, devisees, personal representatives, successors and assigns.
<br />The term "Beneficiary" shall mean the owner and holder of any promissory note given to beneficiary.
<br />8. Merger, Consolidation, Sales or Transfers. Trustor covenants that Trustor will not sell, transfer
<br />or otherwise dispose of any of the Trust Estate. In the event that Trustor sells, transfers or otherwise
<br />disposes of any part of the Trust Estate, Beneficiary may at its option declare the Indebtedness secured
<br />hereby immediately due and payable without any presentment, demand, protest or notice of any kind,
<br />whether or not any default exists. Beneficiary shall consent to a transfer of the Trust Estate to a third
<br />party to the extent such third party meets the requirements contained in, and assumes the obligations
<br />set forth in the First Deed of Trust. The covenants contained herein shall run with the Property and shall
<br />remain in full force and effect until the Indebtedness is paid in full.
<br />9. Events of Default. Any of the following events shall be deemed an event of default hereunder:
<br />(a) default shall be made in the payment of the Indebtedness or any other sum secured hereby
<br />when due; or
<br />(b) Trustor shall perform any act in bankruptcy; or
<br />(c) a court of competent jurisdiction shall enter an order, judgment or decree approving a petition
<br />filed against Trustor seeking any reorganization, dissolution or similar relief under any present or
<br />future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other
<br />relief for debtors, and such order, judgment or decree shall remain unvacated and unstayed for an
<br />aggregate of sixty (60) days (whether or not consecutive) from the first date of entry thereof; or any
<br />trustee, receiver or liquidator or Trustor or of all or any part of the Trust Estate, or of any or all of
<br />the royalties, revenues, rents, issues or profits thereof, shall be appointed without the consent or
<br />acquiescence of Trustor and such appointment shall remain unvacated and unstayed for an aggregate
<br />of sixty (60) days (whether or not consecutive); or
<br />(d) a writ of execution or attachment of any similar process shall be entered against Trustor
<br />which shall become a lien on the Trust Estate or any portion thereof or interest therein and such
<br />execution, attachment or r similar process of judgment is not released, bonded, satisfied, vacated or
<br />stayed within sixty (60) days after its entry or levy; or
<br />(e) there has occurred a breach of or default under any term, covenant, agreement, condition,
<br />provision, representation or warranty contained in the First Deed of Trust or any prior deed of trust
<br />or mortgage affecting the Trust Estate.
<br />10. Acceleration upon Default; Additional Remedies. If an event of default occurs, Beneficiary may
<br />declare the Indebtedness secured hereby to be due and payable and the same shall thereupon become due
<br />and payable without any presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may:
<br />(a) either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br />appointed by a court and without regard to the adequacy of its security, enter upon and take possession
<br />of the Trust Estate, or any part thereof, in its own name or in the name of Trustee, and do any acts which
<br />Second Deed of Trust/HBA
<br />4.1.21
<br />ICE Mortgage Technology, Inc.
<br />Page 3 of 5
<br />I1052NEDE 0621
<br />I1052NEDE (CLS)
<br />08/20/2024 12:14 PM PST
<br />
|