|
09/2b/2003 15:07 1- 308 - 382-7782 GI ABSTRACT,ESCROW PAGE 06
<br />200312978
<br />Secured Debt rare and shall be payable, with interest, upon notice from Landes to Truster
<br />mdNeamg Payment.
<br />14. DEFAULT. Trustor will be in default if any party obligated on the Secured Debt fails to make
<br />payment when due. Trianon will be in default if a breach occurs tinder the tehms of this Security
<br />Instrument many other document executed for the purpose of creating, securing a guarantying the
<br />Secured Debt. A good faith belief by Beneficiary that Beneficiary at any time is insecure with respect
<br />to any person or entity obligated on the Secured Debt or that the prospect of any payment or the value
<br />of the Property is impaired shall also constitute an event of default
<br />15. REN EDMS ON DEFAULT. In some instances, fedenl and state law will require Beneficiary to
<br />Provide Truster with notice of the Tigbt to cure or other notices and may establish time schedules for
<br />foreclosure actions. Subject to these limitations, if any, Beneficiary may accelerate the Secured Debt
<br />and foreclose this Security Instrument in a mamer provided by law if Trustor is in default. At the
<br />Option of Bowliciary, all or any pert of the agreed fees and charges, accrued interest and principal
<br />shall become immediately due And payable, after giving notice if required by law, upon We occurrence
<br />of a default or anytime thereafter. In addition, Beneficiary shall be entitled to all the remedies
<br />Provided by law, the terms of the Secured Debt, this Security Instrument and any related documents,
<br />including without limitation, the power to sell the Property. If there is a default. Trustee shall, in
<br />addition to any other permitted remedy, at the request of the Beneficiary, advertise and sell the
<br />Property as a whole or in separate parcels at public auction in the highest bidder for cash and Dowry
<br />absolute title free and clear of all right, tide and interest of Tmsmr at such time and place as Trustee
<br />designates. Trustee shall give notice of sale including the time, terms and place of sale and a
<br />description of the property to be sold As required by the applicable law in effect a[ the time of the
<br />proposed sale. Upon sale of the property and in the extent not prohibited by law, Trustee shall make
<br />and deliver a deed to the Property sold which conveys absolute title m the purchaser, and after first
<br />paying all fees, charges and costs, shall pay to Beneficiary all moneys advanced for repairs, taxes,
<br />insurance, hens, assessments and prior encumbrances and moment thereon, and the principal and
<br />interest on the Secured Debt, paying the surplus, if any, to Truster. Beneficiary may purchase [he
<br />Property. The recitals in my dead of conveyance shall be prima facie evidence of the facts set forth
<br />therein. All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all
<br />remedies provided at law or equity, whether or not expressly set forth. The acceptance by Beneficiary
<br />Of MY sum in payment or partial payment on the Secured Debt after the balance is due or is Accelerated
<br />or after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right to require
<br />complete cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary
<br />does not waive 7enefia2ry's right to later comuder the event a default if it continues m happens again.
<br />16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS,
<br />Except when prohibited by law, Trustor agrees to pay all of Beiheficiary's expenses if Trusror breaches
<br />any covenant in this Security Instrument. Trustor will also pay on demand any amount incurred by
<br />Beneficiary for insuring, inspecting, preserving or Odumise protecting the
<br />Property and Beneficiary's
<br />fall the
<br />security Interest. These expenses will bear interest from the dam of the payment until paid is fall at the
<br />highest innocent rate in effect as provided in the terms of the Seemed Debt. Trusmr agrees to pay all
<br />costs and expenses incurred by Beneficiary in collating, enforcing or protecting Bewficisrys' tights
<br />and remedies under this Security Instrument, This amount may include, but is not limited m,
<br />attorneys' fees, count costs, and other legal expenses. This Security Instrument shall remain in effect
<br />until released- Traitor agrees in pay for any rmordation core of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As reed in this section, (1)
<br />Bm'irot®emal Law meatus, without limimtion, the Comprehensive Environmental Resprmse,
<br />Compensation and Liability Art (CERCLA, 42 U.S.C. 9601 a seq.), and all other federal, state and
<br />local laws, regulations, ordinances, court orders, Romney general opinions of interpretive lemas
<br />concerning the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />NEBRASKA . DEED OF TRUST
<br />LENE6 iazhol
<br />1'.1.19 20032611614520
<br />
|