200701052 - Laserfiche WebLink

Browse

200701052 <>.ryended by the Beneficiary for the above purposes, and any sum so expended shall be added to the indebtedness secured hereby and become secured by the lien hereof. The Beneficiary shall no incur any liability because of anything it may do or omit to do hereunder. 7. The Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents, issues and profits of the property and of any personal property located thereon with or without taking possession of the property atfected hereby, and Trustors hereby absolutely and unconditionally assign all such rents, issues and profits to the beneficiary. The beneficiary, however, hereby consents to Trustors' collection and retention of such rents, issues and profits, so long as Trustors are not, at such time, in default with respect to payment of any indebtedness secured hereby, or in the perfonnance of any agreement hereunder. I f any event of default described hereafter in respect to this Deed of Trust shall have occurred and be continuing, the Beneficiary, as a matter of right and without notice to Trustors or anyone claiming under Trustors, and without regard to the value of the trust estate or the interest of the Trustors therein, shall have the right to apply to any court having jurisdiction to appoint a receiver of the property. 8. The Beneficiary, or its agents, are authorized to enter at any reasonable time upon or in any part of the property for the purpose of inspecting the same and for the purpose of performing any of the acts they are authorized to perfonn under the tenns of any loan instruments executed by Trustors. 9. If all or any part of the property or any interest of Trustors is sold, transferred or further encumbered without the written consent of the Beneficiary, the Beneficiary may declare all sums secured by this Trust Deed to be immediately due and payable and proceed to the remedies available to it under the default provisions contained herein. 10. Any of the following events shall be deemed an event of default hereunder: a. Trustors shall have failed to make payment of any installment of principal or interest or any other sums secured hereby when due; b. There has occurred a breach of or default under any tenn, covenant, agreenlent, condition, provision, representation or warranty contained in this Deed of Trust, the note or any other loan instrument secured hereby; c. There has been a default by the Trustors in the payment of any prior or subsequent lien or encumbrance in respect to all or any part of the property; d. Trustors shall file a voluntary petition in bankruptcy or shall be adjudicated bankrupt or insolvent, or shall make an assignment for the benefit of creditors in respect to the property; or an action to enforce any lien or encumbrance or judgments against the property is commenced. 11. In the event of any default, the Beneficiary may declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter, the Beneficiary may: a. either in person or by agent, with or without bringing any action or proceeding, or by receiver appointed by a court and without regard to the adequacy of any security, enter upon and take possession of the property, or any part thereof, in its own name or in the name of the Trustee, and do any acts which it deems necessary and desirable to preserve the value, marketability or rentability of the property, or part thereof, or interest therein, increase the income therefrom or protect the security hereof and, without taking possession of the property, sue for or otherwise collect the rents, issues and profits thereot: including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including attorney fees, upon any indebtedness secured hereby, all in such order as the Beneficiary may determine. The entering upon and taking possession of the trust estate, the collection of such rents, issues and profits and application thereof as aforesaid shall not cure or waive any default or notice of default hereunder or invalidate any act and in response to such default or pursuant to such notice of default and notwithstanding the continuance in possession of the property or the collection, receipt and application of rents, issues or profits, Trustee or the Beneficiary may be entitled to exercise every right provided for in any of the loan instruments or by law upon occurrence of any event of default, including the right to exercise the power of sale; b. commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof; c. deliver to Trustee a written declaration of default and demand for sale, and written notice of default and election to cause Trustors' interest in the property to be sold, which notice Trustee shall cause to be duly filed for record in the official records of the county in whieh the property is located. 12. Should the Beneficiary elect to foreclose by exercise of the power of sale herein contained, the Beneficiary shall notify Trustee and shall deposit with Trustee this Deed of Trust and the note and such receipts and evidence of expenditures made and secured hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shall cause to be recorded, published and delivered to Trustor such Notice of Default and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall without demand on Trustor, after such time as may then be required by law and after recordation of such Notice of Default and after Notice of Sale having been given as required by law, sell the property at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may detennine, at public auction to the highest bidder for cash and shall deliver to such purchaser or purchasers thereof a deed to the property sold, consistent with the law then in effect. Recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all reasonable costs and expenses of the sale, including but not limited to Trustee's fees of not more than 2% of the gross sale price, reasonable attorney fees and costs of title evidence; (b) to all sums secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legally entitled thereto. Any person, including the Beneficiary, may purchase said property at said sale. Trustee may in the manner provided by law, postpone sale of all or any portion of the property. 13. Trustee and the Beneficiary, and each of them, shall be entitled to enforce payment and perfonnance of any indebtedness or obligation secured hereby and to exercise all rights and powers under this Deed of Trust or under any loan instrument or other agreement or any laws nor or hereafter enforced notwithstanding some or all of the indebtedness and obligations secured hereby which may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enf~rcement, whether by court action or pursuant to the power of sale or other powers hereirl . contained,sliall prejudice or in any manner- affect Trustee's or the Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee or the Beneficiary, it being agreed that Trustee and the Beneficiary, and each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by the BenefIciary or Trustee in such order and manner as they may irl their absolute discretion detennine. No remedy herein conferred upon or reserved to Trustee or Beneticiary is intended to be exclusive of any other remedy herein or by law provided or pennitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or equity or by statute. Every power or remedy given by any of the loan instruments to Trustee or the Beneficiary or to which either of them may be otherwise entitled may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Beneficiary, and either of them may pursue inconsistent remedies. Nothing herein shall be construed as prohibiting the Beneficiary from seeking a deficiency judgment against Trustors to the extent such action is pennitted by law. 14. Trustors hereby request a copy of any notice of default and that any notice of sale hereunder be mailed to Trustors at the address set forth in the first paragraph ofthis Deed of Trust. 15. The Beneticiary may, by a written instrument executed and acknowledged by Beneficiary, mailed to Trustors and recorded in the County in which the property is located and by otherwise complyirlg with the provisions of the applicable law of the State of Nebraska, substitute a successor to the Trustee named herein or acting hereunder.