|
� 99 111078
<br /> such order as Lender may determine. The entering upon and taking possession of the Property, the collection of such
<br /> rents, issues and profits and the application thereof as aforesaid, sha11 not cure or waive any default or notice of
<br /> default hereunder or invalidate any act done in response to such default or pursuant to such notice of default and,
<br /> notwithstanding the continuance in possession of the Property or the collection, receipt and application of rents,
<br /> issues or profits, and Trustee and Lender shall be entitled to exercise evety right provided for herein or by law upon
<br /> occurrence of any Event of Default, including without limitation the right to exercise the power of sale. Further,
<br /> Lender's rights and remedies under this paragraph shall be cumulative with, and in no way a limitation on, Lender's
<br /> rights and remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee and the
<br /> receiver sha11 be liable to account only for those rents actually received.
<br /> 11. Events of Default. The following shall constitute an Event of Default under this Deed of Trust:
<br /> (a) Failure to pay any installment of principal or interest or any other sum secured hereby
<br /> when due;
<br /> (b) A breach of, or default under, any provision contained in the Note, this Deed of Trust,
<br /> any of the Loan Instruments,or any other lien or encumbrance upon the Property;
<br /> (c) A writ of execution or attachment, or any similar process, shall be entered against
<br /> Trustor which shall become a lien on the Property or any portion or interest therein;
<br /> (d) There shall be filed by or against Trustor or Borrower an action under any present or
<br /> future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other
<br /> relief for debtors, or there sha11 be appointed any trustee, receiver or liquidator of Trustor or
<br /> Borrower or of a11 or any part of the Property, rents, issues or profits thereof, or Trustor or
<br /> Borrower shall make any general assignment for the benefit of creditors;
<br /> (e) The sale, transfer, assignment, conveyance or further encumbrance of all or any part
<br /> of or any interest in the Property, either voluntarily or involuntarily, without the express written
<br /> consent of Lender or as 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
<br /> notice except as required by law, declare a11 indebtedness secured hereby to be due and payable, and the same shall
<br /> thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter,
<br /> Lender may:
<br /> (a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee
<br /> shall thereafter cause Trustor's interest in the Property to be sold and the proceeds to be
<br /> distributed, all in the manner provided in the Nebraska Trust Deeds Act;
<br /> (b) Exercise any and a11 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
<br /> or 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
<br /> herein, in the Note or by law provided or permitted, but each shall be cumulative, sha11 be in addition to every other
<br /> remedy given hereunder, in the Note or now or hereafter existing at law or in equity or by statute, and may be
<br /> exercised concurrently,independently or successively.
<br /> 13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without
<br /> cause appoint a successor or substitute Trustee. Trustee shall not be liable to any party, including, without limitation,
<br /> Lender, Borrower, Trustor or any purchaser of the Property, for any loss or damage unless due to reckless or willful
<br /> misconduct, and shall not be required to take any action in connection with the enforcement of this Deed of Trust
<br /> unless indemnified, in writing, for all costs, compensation or expenses which may be associated therewith. In
<br /> addition, Trustee may become a purchaser at any sale of the Property (judicial or under the power of sale granted
<br /> herein);postpone the sale of all or any portion of the Property, as provided by law;or sell the Property as a whole, or
<br /> in separate parcels or lots at Trustee's discretion.
<br /> 14. Fees and Expenses. In the event Trustee sells the Property by exercise of power of sale, Trustee sha11
<br /> be entitled to apply any sale proceeds first to payment of all costs and expenses of exercising power of sale, including
<br /> a11 Trustee's fees, and Lender's and Trustee's attorney's fees actually incurred to the e�rtent pernutted by applicable
<br /> law. In the event Borrower or Trustor exercises any right provided by law to cure an Event of Default, Lender sha11
<br /> be entitled to recover from Trustor all costs and expenses actually incurred as a result of Trustor's default, including,
<br /> without limitation, all Trustee's and attorney's fees,to the extent permitted by applicable law.
<br /> 15. Future Advances. Upon request of Borrower, Lender may, at its option, make additional and future
<br /> advances and readvances to Borrower. Such advances and readvances,with interest thereon, shall be secured by this
<br /> Deed of Trust. At no time sha11 the principal amount of the indebtedness secured by this Deed of Trust, not including
<br /> Page 3 of 5
<br />
|