200503788 - Laserfiche WebLink

Browse

200503788 23. Fixture Filing. This Deed of Trust shall also serve as a financing statement filed for record in the real estate records as a fixture filing pursuant to the Uniform Commercial Code with Grantor being named as the Debtor and the Beneficiary being named as the Secured Party and the Property being the Collateral. 24. Late Charge. In the event that any payment or portion thereof is not paid within ten (10) days commencing with the date it is due, Beneficiary may collect, and Grantor agrees to pay a "late charge" of 5% of the delinquent payment, but not to exceed the highest such charge permitted by applicable law. This late charge shall apply individually to each payment past due. This paragraph shall not relieve the Grantor of the obligation to make payments on or before the date on which they are due nor do the terms of this paragraph in any way affect Beneficiary's remedies pursuant to the terms of the Note secured hereby or this Deed of Trust. 25. Default; Remedies. TIME IS OF THE ESSENCE. If Grantor fails to pay any installment of principal or interest on the Note within ten (1.0) days of the date the same is due and payable, or if Grantor fails perform or observe any other covenant or agreement of Grantor contained in this Deed of Trust or in any of the Loan Documents for more than thirty (30) days after receipt of written notice specifying such default (or if Grantor is unable to cure the default within thirty days, within such additional period of time not to exceed sixty (60) days as may be reasonably necessary to cure such default provided Grantor commences such cure within thirty (30) days and thereafter proceeds diligently to cure such default), or if Grantor fails to provide or maintain the insurance required by this Deed of Trust, or if Grantor fails to perform or observe any other obligation of Grantor to Beneficiary when due, whether now existing or hereafter arising, or if any representation, warranty, or statement made by Grantor or any guarantor in any Loan Document, certificate or financial statement delivered to Beneficiary shall be incorrect or misleading in any material respect, or if Grantor makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Grantor and not dismissed within sixty (60) days, or if any guarantor of the Loan revokes, or attempts to revoke, its guaranty, or is the subject of a petition in bankruptcy or other insolvency proceeding, then and in any such event (each of such events being a default by Grantor under this Deed of Trust for the purposes of the acceleration provisions contained in the Note), the whole sum of the indebtedness, at the option of the Beneficiary or the holder of the indebtedness, shall become immediately due and payable and Beneficiary may exercise its rights and remedies under the Loan Documents and applicable law. Beneficiary may cause Trustee to execute a written notice of default and of election to cause said Real Property to be sold in the manner provided by the Nebraska Trust Deeds Act under the power of sale to satisfy the indebtedness and obligations hereof, and 'trustee shall file such notice of record in each county wherein said Real Property or some part or parcel thereof is situated and shall mail such notice to Grantor in the manner prescribed by law. After lapse of such time as may then be required by law following the recordation of said notice of default, and notice of default and notice of sale having been given as then required by law, Trustee, without demand on Grantor, shall sell said Real Property on the date and at the time and place designated in said notice of sale, either as a whole or in separate parcels, and in such order as it may determine (but subject to any statutory right of Grantor to direct the order in which such Real Property, if consisting of several lots or parcels, shall be sold), at public auction to the highest bidder, the purchase price payable in lawful money of the United States at the time of sale. The person conducting the sale may, for any cause he deems expedient, postpone the sale from time to time until it shall be completed, and in every such case, notice of postponement shall be given by public declaration thereof by such person at the time and place last appointed for the sale. Trustee shall execute and deliver to the purchaser its deed conveying said Real Property so sold, but without any covenant or warranty, expressed or implied. The recitals in the deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including Beneficiary, may bid at the sale. Trustee shall apply the proceeds of the sale to the payment of (1) the costs and expenses of exercising the power of sale and of the sale, including the payment of the Trustee's and attorneys fees; (2) cost of any evidence of title procured in connection with such sale; (3) all sums expended under the terms hereof, not then repaid, with accrued interest thereon at 12% per Doff- Nebraska -12/04 NC W1, 8 Symetra Loan No. SBOLl508