|
200314312
<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be recorded, published and
<br />delivered to Trustor such Notice of Default and Notice of Sale as then required by law and by this
<br />Second Deed of Trust. Trustee shall, without demand on Trustor, after such time as may then be
<br />required by law and after recordation of such Notice of Default and after Notice of Sale having been
<br />and place of sale fixed by it in such Notice
<br />given as required by law, sell the Trust Estate at the time
<br />of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and
<br />in such order as it may determine, at public auction to the highest bidder for cash in lawful money of
<br />the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers Y
<br />thereof its good and sufficient deed or deeds conveying the property so sold, but without any
<br />covenant or warrant, express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor,
<br />Trustee or Beneficiary, may purchase at such sale.
<br />(b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this
<br />Trust, including costs of evidence of title in connection with sale, Trustee shall apply the proceeds
<br />of sale to payment of (I) the Indebtedness (ii) all other sums then secured hereby, and (iii) the
<br />remainder, if any, to the person or persons legally entitled thereto.
<br />(c) Trustee may in the manner provided by law postpone sale of all or any portion of the Trust Estate.
<br />12, Remedies Not Exclusive. Trustee and Beneficiary, and each of them, shall be entitled to enforce
<br />payment and performance of any indebtedness or obligations secured hereby and to exercise all rights and
<br />powers under this Second Deed of Trust or under any Loan Instrument or other agreement or any laws now
<br />or hereafter in force, notwithstanding, some or all of the such indebtedness and obligations secured hereby
<br />may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or
<br />otherwise. Neither the acceptance of this Second Deed of Trust nor its enforcement, whether by court order
<br />or pursuant to the power of sale or other powers herein contained, shall prejudice or in any manner affect
<br />Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee
<br />or Beneficiary, it being agreed that Trustee and Beneficiary, and each of the, shall be entitled to enforce this
<br />Second Deed of Trust and any other security now or hereafter held by Beneficiary or Trustee in such order
<br />and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred
<br />upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law
<br />provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given
<br />hereunder or now or hereafter existing at law or in equity or by statute. Every power or remedy given by any
<br />of the Loan Instruments to Trustee or Beneficiary or to which either of them may be otherwise entitled,
<br />maybe exercised, concurrently or independently, from time to tithe and as often as may be deemed expedient
<br />by Trustee or Beneficiary and either of them may pursue inconsistent remedies. Nothing herein shall be
<br />construed as pro9hibiting Beneficiary from seeking a deficiency judgment against the Trustor to the extent
<br />such action is permitted by law.
<br />13. Request for Notice. Trustor and all other parties set forth herein hereby requests a copy of any Notice of
<br />Default and a copy of any Notice of Sale hereunder be mailed to them at the address set forth in the first
<br />paragraph of this Second Deed of Trust.
<br />14. Governing Law. This Second Deed of Trust shall be governed by and construed in accordance with the laws
<br />of the State of Nebraska. In the event that any provision or clause of any of the Loan Instruments conflicts
<br />with applicable laws, such conflict shall not affect other provisions of such Goan Instruments which can be
<br />given effect without the conflicting provision, and to this end the provisions of the Loan Instruments are
<br />declared to be severable. This instrument cannot be waived, changed, discharged or terminated orally, but
<br />only by an instrument in writing signed by the party against whom enforcement of any waiver, change,
<br />discharge or termination is sought.
<br />I
<br />
|