|
� 99 109896
<br /> (e) The sale, transfer, assignment, conveyance or further encumbrance of all or any part of or any
<br /> interest in the Property, either voluntarily or involuntarily, without the express written consent of Lender or as
<br /> otherwise herein pernutted;or
<br /> (� Abandonment of the Property.
<br /> 12. Remedies;Acceleration Upon Default. In the event of and Event of Default,Lender may,without notice except as
<br /> required by law, declare all indebtedness secured hereby to be due and payable, and the same shall thereupon become due and
<br /> payable without any presentment, demand,protest or notice of any kind. Thereafter,Lender may:
<br /> (a) Demand that Trustee exercise the POWER OF SALE ganted herein, and Trustee shall thereafter
<br /> cause Trustor's interest in the Property to be sold and the proceeds to be distributed, all in the manner
<br /> provided in the Nebraska Trust Deeds Act;
<br /> (b) Exercise any and all rights provided for in the Note, this Deed of Trust or by law upon
<br /> occurrence of any Event of Default;and
<br /> (c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or
<br /> specifically enforce any of the covenants hereof.
<br /> No remedy herein conferred upon, or reserved to, Trustee or Lender is intended to be exclusive of any other remedy herein, in
<br /> 15the Note or by law provided or permitted, but each sha11 be cumulative, shall be in addition to every other remedy given
<br /> hereunder, in the Note or now or hereafter existing at law or in equity or by statute, and may be exercised concurrently,
<br /> independently or successively.
<br /> 13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without cause
<br /> appoint a successor or substitute Trustee. Trustee shall not be liable to any party, including, without limitation, Lender,
<br /> Borrower, Trustor or any purchaser of the Property, for any loss or damage unless due to reckless or willful misconduct, and
<br /> shall not be required to take any action in connection with the enforcement of this Deed of Trust unless indemnified, in writing,
<br /> for a11 costs, compensation or expenses which may be associated therewith. In addition, Trustee may become a purchaser at any
<br /> sale of the Property(judicial or under the power of sale granted herein); postpone the sale of all or any portion of the Property,
<br /> as provided by law;or sell the Property as a whole, or in separate parcels or lots at Trustee's discretion.
<br /> 14. Fees and Ex enses. In the event Trustee sells the Property by exercise of power of sa1e, Trustee shall be entitled
<br /> to apply any sale proceeds first to payment of all costs and expenses of exercising power of sale, including all Trustee's fees, and
<br /> Lender's and Trustee's attorney's fees actually incuned to the extent permitted by applicable law. In the event Borrower or
<br /> Trustor exercises any ri�ht provided by law to cure an Event of Default, Lender shall be entitled to recover from Trustor all
<br /> costs and expenses actually incuned as a result of Trustor's default, including, without limitation, all Trustee's and attorney's
<br /> fees,to the extent permitted by applicable law.
<br /> 15. Future Advances. Upon request of Bonower,Lender may, at its option, make additional and future advances and
<br /> readvances to Borrower. Such advances and readvances, with interest thereon, sha11 be secured by this Deed of Trust. At no
<br /> time sha11 the principal amount of the indebtedness secured by this Deed of Trust, not including sums advanced to protect the
<br /> security of this Deed of Trust, exceed the original principal amount stated herein, or ONE HUNDRED FIFTY THOUSAND
<br /> AND NO/100($150,000.00),whichever is greater.
<br /> 16. Miscellaneous Provisions.
<br /> (a) Borrower Not Released. Extension of the time for payment or modification of amortization of the sums
<br /> secured by this Deed of Trust granted by Lender to any successor in interest of Borrower sha11 not operate to release, in any
<br /> manner, the liability of the original Borrower and Borrower's successors in interest. Lender sha11 not be required to commence
<br /> proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured
<br /> by this Deed of Trust by reason of any demands made by the original Borrower and Bonower's successors in interest.
<br /> (b) Lender's Powers. Without affecting the liability of any other person liable for the payment of any
<br /> obligation herein mentioned, and without affecting the lien or charge of this Deed of Trust upon any portion of the Property not
<br /> then or theretofore released as a security for the full amount of all unpaid obligations, Lender may, from time to time and
<br /> without notice, (i)release any person so liable; (u) e�rtend the maturity or alter any of the terms of any such obligations;
<br /> (iii)grant other indulgences, (iv)release or reconvey, or cause to be released or reconveyed at any time at Lender's option any
<br /> parcel, portion or all of the Property; (v)take or release any other or additional security for any obligation herein mentioned; or
<br /> (vi)make compositions or other arrangements with debtors in relation thereto.
<br /> (c) Forbearance bv Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy
<br /> hereunder or otherwise afforded by applicable law shall not be a waiver of,or preclude the exercise of, any such right or remedy.
<br /> The procurement of insurance or the payment of taxes or other liens or ohazges by Lender shall not be a waiver of Lender's right
<br /> to accelerate the maturity of the indebtedness secured by this Deed of Trust.
<br /> (d) Successors and Assi�ns Bound: Joint and Several Liability; Captions. The covenants and agreements
<br /> herein contained sha11 bind, and the rights hereunder shall inure to,the respective successors and assigns of Lender and Trustor.
<br /> All covenants and agreements of Trustor shall be joint and several. The captions and headings of the paragraphs of this Deed of
<br /> Trust are for convenience only and are not to be used to interpret or define the provisions hereof.
<br /> (e) Request for Notices. The parties hereby request that a copy of any notice of default hereunder and a copy
<br /> of any notice of sale hereunder be mailed to each party to this Deed of Trust at the address set forth above in the manner
<br /> prescribed by applicable law. Except for any other notice required under applicable law to be given in another manner, any
<br /> Page 3 of 4
<br />
|