|
<br />~00700361
<br />
<br />may execute and deliver to the purchaser or purchasers of such property a conveyance in fee simple. The Trustee shall receive
<br />the proceeds thereof and, subject to the requirements of the Nebraska Trust Deeds Act, shall apply the same as follows: (a) first,
<br />the payment of the expenses of making, maintaining and executing this trust, protection of the Property, including the expense of
<br />any litigation and reasonable attorneys' fees, and reasonable compensation to the Trustee; (b) second, to any advancements
<br />made by the Trustee or the Beneficiary pursuant hereto, with interest thereon; (c) third, to the payment of the Obligations herein
<br />secured or intended so to be, in such order as Beneficiary shall elect, and any balance of said Obligations may be the subject of
<br />immediate suit; (d) and, fourth, should there by any surplus, Trustee will pay it to the Trustor, or to such person as may be legally
<br />entitled thereto. The sale or sales by Trustee of less than the whole of the Property shall not exhaust the power of sale herein
<br />granted, and the Trustee is specifically empowered to make successive sale or sales under such power until the whole of the
<br />Property shall be sold; and if the proceeds of such sale or sales of less than the whole of the Premises shall be less than the
<br />aggregate of the Obligations and the expenses thereof, this Deed of Trust and the lien, security interest and assignment hereof
<br />shall remain in full force and effect as to the unsold portion of the Property; provided, however, that Trustor shall never have any
<br />right to require the sale or sales of less than the whole of the Property, but Beneficiary shall have the right at its sole election, to
<br />request the Trustee to sell less than the whole of the Property. Beneficiary may bid and become the purchaser of all or any part of
<br />the Property at any such sale, and the amount of Beneficiary's successful bid may be credited on the Obligations.
<br />
<br />I
<br />. ;l. ~ I
<br />
<br />(c) Judicial and Other Relief. Beneficiary or Trustee may proceed by a suit or suits in equity or at law, whether for the specific
<br />performance of any covenant or agreement herein contained or in aid of the execution of any power herein granted, or for any
<br />foreclosure hereunder or for the sale of the Property under the judgment or decree of any court or courts of competent jurisdic-
<br />tion.
<br />
<br />(d) Entry on Premises; Tenancy at Will.
<br />(i) Beneficiary may enter into and upon and take possession of all or any part of the Property, and may exclude Trustor, and
<br />all persons claiming under Trustor, and its agents or servants, wholly or partly therefrom; and, holding the same, Beneficiary may
<br />use, administer, manage, operate, and control the Property and may exercise all rights and powers of Trustor in the name, place
<br />and stead of Trustor, or otherwise, as the Beneficiary shall deem best; and in the exercise of any of the foregoing rights and
<br />powers Beneficiary shall not be liable to Trustor for any loss or damage thereby sustained unless due solely to the willful miscon-
<br />duct or gross negligence of Beneficiary.
<br />(ii) In the event of a trustee's or other foreclosure sale hereunder and if at the time of such sale Trustor or any other party
<br />(other than a tenant under a Lease as to which the Beneficiary shall have expressly subordinated the lien of this Deed of Trust as
<br />hereinabove set out) occupies the portion of the Property so sold or any part thereof, such occupant shall immediately become
<br />the tenant of the purchaser at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of such
<br />purchaser, at a reasonable rental per day based upon the value of the portion of the Premises so occupied (but not less than any
<br />rental theretofore paid by such tenant, computed on a daily basis). An action of forcible detainer shall lie if any such tenant holds
<br />over a demand in writing for possession of such portion of the Premises.
<br />
<br />(e) Receiver. Beneficiary may make application to a court of competent jurisdiction, as a matter of strict right and without notice
<br />to Trustor or regard to the adequacy of the Property for the repayment of the Obligations, for appointment of a receiver of the
<br />Property, and Trustor does hereby irrevocably consent to such appointment. Any such receiver shall have all necessary and
<br />proper powers and duties of receivers in similar cases, including the full power to rent, maintain and otherwise operate the
<br />Property upon such terms as may be approved by the court.
<br />
<br />(f) Remedies Cumulative, Concurrent and Nonexclusive. If the Obligations are now or hereafter further secured by chattel
<br />mortgages, other deeds of trust, security agreements, pledges, contracts of guaranty, assignments of leases, or other security,
<br />Beneficiary may, at its option, exhaust its remedies under anyone or more of said instruments and this Deed of Trust, either
<br />concurrently or independently, and in such order as Beneficiary may determine. Beneficiary shall have all rights, remedies and
<br />recourses granted in the Loan Documents and available to it at law or equity (including, without limitation, those granted by the
<br />Uniform Commercial Code), and same (a) shall be cumulative, concurrent, and nonexclusive, (b) may be pursued separately,
<br />successively or concurrently against Trustor or others obligated for the Obligations, or any part thereof or against anyone or
<br />more of them, or against the Property, at the sole discretion of Beneficiary, and (c) may be exercised as often as occasion there-
<br />for shall arise, it being agreed by Trustor that the exercise of or failure to exercise any of same shall in no event be construed as a
<br />waiver or release thereof or of any other right, remedy or recourse.
<br />
<br />(9) Waiver by the Beneficiary. The Beneficiary may permit the Trustor to attempt to remedy any default without waiving its
<br />rights and remedies hereunder, and the Beneficiary may waive any default without waiving any other subsequent or prior default
<br />by the Trustor. Furthermore, delay on the part of the Beneficiary in exercising any right, power or privilege hereunder or at law
<br />will not operate as a waiver thereof, nor will any single or partial exercise of such right, power or privilege preclude other exercise
<br />thereof or the exercise of any other right, power or privilege. No waiver or suspension will be deemed to have occurred unless
<br />the Beneficiary has expressly agreed in writing specifying such waiver or suspension.
<br />
<br />(h) Attorneys' Fees and Other Costs. Attorneys' fees and other costs incurred in connection with this Deed of Trust may be
<br />recovered by the Beneficiary and included in any sale made hereunder or by judgment of foreclosure.
<br />1714NE Page 5 of 8
<br />
|