|
�
<br /> ►
<br /> 5. TRANSFER OF THE PROPER7Y;ASSUMPTION. If all or any part of the property or interest therein is sold,transferred or
<br /> otherwise conveyed by Trustor without Beneficiary's prior written consent, excluding (a) the creation of a lien or encumbrance
<br /> ' subordinate to this Deed of Trust, (b)the creation of a purchase money security interest for household appliances, (c)a transfer by
<br /> devise,descent or by operetion of law upon the death of a joint tenant or(d)the grant of any leasehold interest of three years or less
<br /> not containing an option to purchase,such action is a breech of this egreement,and Beneficiary may,at Bene�iciary's option,declare
<br /> ell the sums secured by this Deed of Trust to be immedietely due end payable, or cause the trustee to file a notice of default.
<br /> Beneficiary shall have waived such option to accelernte ff, prior to the snle, transfer of conveyence, Beneficiary and the person to
<br /> whom the property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Beneficiary
<br /> and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary shall request.
<br /> 6. ACCELERATION UPON DEFAULT;REMEDIES;SALE.The failure by the Tr�stor to make any payment or to perform any of
<br /> the terms end conditions of the Note,or any renewals,modifications or extensions thereof,or the payment of any other indebtedness
<br /> secured hereby or in the performance of any of the covenants or agreements hereunder shall be n breech of this agreement and the
<br /> Beneficiary may declare a defauft and may declare nll sums secured hereby immediately due and payable and the seme shall �
<br /> thereupon become due and payable wfthout presentment,demand, protest or notice of any kind.Thereafter, Beneficiary may deliver �
<br /> to Trustee a written declaration of detauft and demand for sale. Trustor agrees and hereby grants that the Trustee shall have the
<br /> power of sale of the Property and if Beneficiery decides the Property is to be sold it shall deposd with Trustee this Deed of Trust and �""� ,
<br /> the Note or notes and any other documents evidencing expenditures secured hereby,and shall deliver to Trustee s written notice of �
<br /> defauk and election to cause the Property to be sold, and Trustee, in turn,shall prepare a similar notice in the form required by law, �1
<br /> which shall be duly filed for record by Trustee. �
<br /> (a) After the lapse of such time as may be required by law following the recordation of Notice of Defauk,nnd Notice of Defauk �
<br /> and Notice of Sale having been given es required by lew,Trustee,wdhout demend on Trustor,shall sell the Property in one (�
<br /> or more parcels and in such order as Trustor may determine on the date and the time and p!ace designated in said Notice
<br /> of Sale,et public auction to the highest bidder,the purchase price payable in cash in lawful money of the United States at
<br /> the time of sale.The person conducting the sele may,tor any ceuse he or she deems expedient, postpone the sale from '
<br /> time to time until it shall be completed end,in every such case,notice of postponement shell be given by public declaration
<br /> thereof by such person at the time and place lest nppointed for the sale;provided,if the sale is postponed for longer than
<br /> one (1) day beyond the day designated in the Notice of Sale, notice thereof shall be given in the same manner as the
<br /> original Notice of Sale. Trustee shall execute and deliver to the purcht►ser Rs Deed conveying the Property so sold, but
<br /> without nny covenent or wnrranty,express,or implied.The recitnls in the Deed of any manners or facts shall be conclusive
<br /> proof of the truthfulness thereof.Any person,including without limitation Beneficiary or Trustee,may purchase at the sale.
<br /> (b) When Trustee sells pursuant to the powers herein, Trustee shall npply the proceeds of the sale to payment of the costs
<br /> and expenses of exercising the power ot sale and of the sale, including,wkhout limitetion,the payment of Trustee's Fees
<br /> incurred,which Trustee's Fees shall not in the aggregate exceed the following amounts based upon the amount secured
<br /> hereby and remaining unpnid:5 percentum on the balance thereof;and then to the items in subparagraph (c)in the order
<br /> there stated.
<br /> (c) After paying the ftems specified in subparagreph (b), if the sale is by Trustee, or the proper court and other costs of
<br /> foreclosure and sale rf the sale is pursuant to judicial Mreclosure,the proceeds of sale shall be applied in the order stated
<br /> below to the payment of:
<br /> (1)Attorneys fees and costs of collection;
<br /> (2)Cost of any evidence of title procured in connection with such sale and of any revenue required to be paid;
<br /> (3)All obligations secured by this Trust deed;
<br /> (4)The remainder,"rf any,to the person legally entftled thereto.
<br /> 7. ADDITIONAL SECURITY INSTRUMENTS.Trustor, at its expense,will execute and deliver to the Beneflciary,promptly upon
<br /> demand, such security instruments as may be required by Beneficiary, in form and substance satisfactory to Beneficiary, covering
<br /> any of the Property conveyed by this Deed of Trust, which security instruments shall be additional security for Trustor's faithful
<br /> performance of all the terms, covenants and conditions of this Deed of Trust, the promissory notes secured hereby, and any other
<br /> security instruments executed in connection with this transaction.Such instruments shall be recorded or filed at Trustor's expense.
<br /> 8. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written instrument executed and
<br /> acknowledged by Beneficiary, mailed to Trustor and recorded in the county or counties in which the Property is located and by
<br /> otherwise complying with the provisions of the applicable laws of the State of Nebraska substitute a successor or successors to the
<br /> Trustee nnmed herein or acting hereunder.
<br /> 9. INSPECTIONS. Beneficiary,or its egents, representatives or workmen, sre authorized to enter at eny reasonable time upon
<br /> or in any part oi the Property for the purpose ot inspeding the seme and for the purpose of performing any of the acts R is authorized
<br /> to perform under the terms of the Deed of Trust.
<br /> 10. OPTION TO FORECLOSE. Upon the occurrence of any breach and upon the declaration of defauft hereunder, Beneficiary
<br /> shall have the option to foreclose this Deed of Trust in the menner provided by law for the foreclosure of mortgages on real property.
<br /> t 1. FOREBEARANCE BY BENEFICIARY OR TRUSTEE NOT A WAIVER. Any forebearance by Beneficiary or Trustee in
<br /> exercising any right or remedy hereunder, or otherwise afforded by applicable law,shall not be a waiver of or preclude the exercise
<br /> of any such right or remedy hereunder. Likewise, the waiver by Beneficiary or Trustee of any default of Trustor under this Deed of
<br /> Trust shall not be deemed to be a waiver of any other or similar de�s subsequently occurring.
<br /> `°`"'"`-...�..
<br /> 12. TRUSTOR NOT RELEASED. Extension of the time for aymertt'o�Rip��„t�ortization of the sums secured by this
<br /> �
<br /> Deed of Trust granted by Beneficiary to any successor in interes�of�[�I��t1�tl��,q 9af�r,�,'je 'n any manner,the liability of
<br /> the original Trustor and Trustor's successor in interest. Bene6oinry sfi�Il�i�tSt.,a,�re� ed to co en e proceedings against such
<br /> successor or refuse to extend time for payment or otherwise modify am 't11� sQ�: ed by this Deed of Trust by
<br /> reason of any demand made by the original Trustor and Trustor's successors in interest"'�""°`' .
<br /> 13. BENEFICIARY'S POWERS. Without affecting or releasing the liability ot the Trustor or any other person liable for the
<br /> payment of any obligation herein mentioned, and without affecting the lien or charge of this Deed of Trust upon any portion of the
<br /> Property not then or theretofore released as security for the full amount of all unpaid obligations, Beneficiary may,from time to time
<br /> and without notice at the request of one or more Trustors(i)releese any person so liable,(ii)extend or renew the maturiry or aRer any
<br /> of the terms of any such obligations, (iii)grant other indulgences, (iv)relense or reconvey,or cause to be releesed or reconveyed at
<br /> any time at Beneficiary's options any parcel, portion or all of the Property, (v)take or release any other or additional security for any
<br /> obligation herein mentioned, (vi) make compositions or other arrangements with debtors in relation thereto. All Trustors shall be
<br /> jointly and severally obligated end bound by the actions of the Beneficiary or any trustor as herein stated.
<br /> 14. ATTORNEY FEES,COSTS AND EXPENSES.If the Beneficiary of this Deed of Trust is a bank as defined by Nebraska law,
<br /> any statement contained in any other section of this deed notwithstanding,the Beneficiary shall not be entitled to receive or take and
<br /> debtor shall not be obligated to pay or give;any confession of judgment,power of attorney to confess judgment,power of attorney to
<br /> appear for e borrower in a judicial proceeding or agreement to pay the costs of colledion or the attorneys'fees, unless the interest
<br /> payable by the terms of the Note referred to in this deed is 1696 per annum or less,or the note referred to in this deed is repayable in
<br /> two or more equal or unequal installments and over a period of more than one hundred forty-five(145)months.Provided,however,
<br /> that this section does not apply to the trustee fee referred to in Paragraph 6.6(b).Provided further that this Paragraph 6.14 shall not
<br /> apply to this Deed of Trust,'rf the Beneflciary herein is not a bank.
<br /> ORI4INAL(1)
<br /> ao7e7t HEV.i�-Oa No6reake � wnoonweo rtnov n� ,.,,,�.,..�. .
<br />
|