99105138 - Laserfiche WebLink

Browse

, , . . ' 9g '�16513L� the Note or the debt evidenced thereby or creating or extending a period of redemption from any sale made in collecting said debt. To the full extent Grantor may do so, Grantor agrees that Grantor will not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, extension or redemption, and Grantor, for Grantor, and Grantor's heirs, devisees, representatives, successors and assigns, and for any and all persons ever claiming any interest in the Premises, to the extent permitted by law, hereby waives and releases all rights of redemption, valuation, appraisement, stay of execution, notice of election to mature or declare due the whole of the Secured Indebtedness and marshalling of assets in the event of foreclosure of the lien hereby created. If any law referred to in this Section and now in force, of which Grantor, Grantor's heirs, devisees, representatives, successors and assigns or other person might take advantage despite this Section, shall hereafter be repealed or cease to be in force, such law shall not thereafter be deemed to preclude the application of this Section. Grantor expressly waives and relinquishes any and all rights and remedies which Grantor may have or be able to assert by reason of the laws of the State of Nebraska pertaining to the rights and remedies of sureties. 4. 3 Loan Commitment. The terms and conditions of that certain loan commitment letter from Beneficiary to Grantor dated September 28, 1998, as amended are hereby incorporated by reference and made a part hereof as if fully set forth herein. 4 .4 Captions. The captions or headings at the beginning of each Section hereof are for the convenience of the parties and are not a part of this Deed. 4 . 5 Invalidity of Certain Provisions. If the lien of this Deed is invalid or unenforceable as to any part of the debt, or if the lien is invalid or unenforceable as to any part of the Premises, the unsecured or partially secured portion of the debt shall be completely paid prior to the payment of the remaining and secured or partially secured portion of debt and all payments made on the debt, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the debt which is not secured or fully secured by the lien of this Deed. 4. 6 Subroqation. To the extent that proceeds of the Note are used to pay any outstanding lien, charge or prior encumbrance against the Premises, such proceeds shall be deemed to be advanced by Beneficiary at Grantor's request and Beneficiary shall be subrogated to any and all rights and liens owned by any owner or holder of such outstanding liens, charges and prior encumbrances, irrespective of whether said liens, charges or encumbrances are released. 4 .7 No MercLer. If both the lessor' s and lessee's estates under any lease or an�� portion thereof which constitutes a part of the Premises shall at any time become vested in one owner, this Deed and the interest created hereby shall not be destroyed or terminated by application of the doctrine of inerger and, in such event, Beneficiary shall continue to have and enjoy all of the rights and privileges of Beneficiary as to the separate estates. In addition, upon the foreclosure of the lien created by this Deed on the Premises pursuant to the provisions hereof, any leases or subleases then existing and created by Grantor shall not be destroyed or terminated by application of the law of inerger or as a matter of law or as a result of such foreclosure unless Beneficiary or any purchaser at any such foreclosure sale shall so elect. No act by or on behalf of Beneficiary or any such purchaser -21-