|
DEED (Continued)ST 200210627 Pages
<br />Upon default, Truster shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably
<br />convenient to Trustor and Lender and make it available to Lender within three 13) days after receipt of written demand from Lender to
<br />the extent permitted by applicable law.
<br />Addresses. The mailing addresses of Truster (debtor) and Lender lectured party) from which information concerning the security
<br />interest granted by this Deed of Trust may be obtained )each as required by the Uniform Commercial Code) are as stated on the first
<br />page of this Dead of Trust.
<br />FURTHER ASSURANCES; ATTORNEY -IN -FACT. The following provisions relating to further assurances and attorney -in -fact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Truster will make, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lander, cause to be filed, recorded,
<br />refined, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of
<br />further assurance, cartificates, and other documents as may, in the sale opinion of Lender, be necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve 111 Borrower's and Tructor's obligations under the Credit Agreement, this Deed
<br />of Trust, and the Related Documents, and 121 the hens and security interests created by this Deed of Trust on the Property, whether
<br />w owned or hereafter acquired by Truster. Unless prohibited by law or Lender agrees to the contrary In writing, Truster shall
<br />reimburse Lender for all costs and expenses Incurred in connection with the matters referred to in this paragraph.
<br />Attorney in -Fact. If Truster fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name
<br />of Truster and at Truslor's expense. For such purposes, Truster hereby irrevocably appoints Lender as Tructor's attorney in -fact for
<br />the purpose of making, executing, delivering, filing, retarding, and doing all other things as may be necessary or desirable. in Lender's
<br />sole opinion, to accomplish the matters referred to in the preceding paragraph.
<br />FULL PERFORMANCE. If Borrower pays all the Indebtedness when due, terminates the credit line account, and otherwise performs all the
<br />obligations imposed upon Truster under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and
<br />shall execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing Lender's security
<br />interest In the Rents and the Personal Property. Any reconveyance lee required by law shall be paid by Trustor, If permitted by applicable
<br />law.
<br />EVENTS OF DEFAULT. Trustor will be in default under this Deed of Trust if any of the following happen: (A) Trustor commits fraud or
<br />makes a material misrepresentation at any time in connection with the Credit Agreement. This can include, for example, a false statement
<br />about Borrower's or Tructor's income, assets, liabilities, or any other aspects of Borrower's or Tractor's financial condition. (B) Borrower
<br />does net meet the repayment terms of the Cretlit Agreement. IC) Tructor's action or inaction adversely affects the collateral or Lender's
<br />rights in the collateral. This can include, for example, failure to maintain required Insurance, waste or destructive use of the dwelling,
<br />failure to pay taxes, death of all persons liable on the account, transfer of title or sale of the dwelling, creation of a senior lien on the
<br />dwelling without Lender's permission, foreclosure by the holder of another lien, or the use of funds or the dwelling for prohibited purposes.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter. Trustee or Lender
<br />may exercise any one or more of the following rights and remedies:
<br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Credit Agreement
<br />secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust 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, Lender may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and
<br />without regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its
<br />own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentability of the Property, or part of the Property or interest In the Property; increase the income from the
<br />Property or protect the security of the Property; and, with or without taking possession of the Property, sue for or otherwise
<br />collect the rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection attorneys' fees, to any indebtedness secured by this Deed of Trust, all in such order as
<br />Lender may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and
<br />profits, and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust or
<br />invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the
<br />continuance in possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or
<br />Lender shall he entitled to exercise every right provided for in the Credit Agreement or the Related Documents or by law
<br />upon the occurrence of any event of default, including the right to exercise the power of sale;
<br />Ib) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the
<br />covenants hereof; and
<br />Ind Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to
<br />cause Tructor's Interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the
<br />appropriate offices of the County in which the Property Is located; and
<br />(d) With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party
<br />under the Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained, Lender shall notify
<br />Trustee and shall deposit with Trustee this Deed of Trust and the Credit Agreement and such receipts and evidence of
<br />expenditures made and secured by this Deed of Trust as Trustee may require.
<br />(a) Upon receipt of such notice from Lender, Trustee shall cause to be recorded, published and delivered to Trustor such
<br />Notice of Default and Notice of Sale as then required by law and by this Dead of Trust. Trustee shall, without demand on
<br />Trustor, after such time as may then be required by law and after recordation of such Notice of Default and after Notice of
<br />
|