|
<br />--. .
<br />
<br />87-10726t1
<br />
<br />I
<br />
<br />described real estate and that a breach of an obligation, for which said real
<br />estate was conveyed as security, has occurred, and setting forth the nature of
<br />such breach and the Trustee's election to sell the real estate to satisfy the
<br />obligation; and after the lapse of not less than one (1) month, the Trustee
<br />shall give written notice of the time and place of sale which may be between
<br />9:00 a.m. and 5:00 p.m. at the premises, or at the Courthouse in the County
<br />wherein such property is located, describing the property to be sold by its
<br />legal description, said notice to be published in a newspaper of general circula-
<br />tion in the County wherein such property is located, once a week for five (5)
<br />consecutive weel(S, the last publication to be at least ten (10) days, but not
<br />more than thirty (30) days, prior to the sale; and the Trustee shall then sell
<br />said property at the time and place designated in the notice, in the manner
<br />provided by law in effect at the time of filing said notice, at public auction
<br />to the highest bidder for cash al1d shall deliver to such purclllUSer a deed to the
<br />property sold, consistent with the law in effect at the time.
<br />
<br />Upon receipt of payment of the price bid, Trustee shall deliver to thEl
<br />purchaser, Trustee's deed conveying the property sold. Recitals in the Trustee 1 s
<br />deed shall be prima facie evidence of the truth of the statements made therein.
<br />'frustee shall apply the proceeds of the sale in the following order: (a) to
<br />all reasonable costs and expenses of the sale, including but not limited to,
<br />Trustee's fees of not more than one (1)% of the: gross sale price, reasonable
<br />attorney fees anet costs of title evidence; (b) to all sums secured by this
<br />Deed of Trust Construction Security Agreanent; and (c) the excess, if any, to
<br />the person or persons legally entitled thereto. Any person, including Beneficiary,
<br />may purclllUSe said property at said sale.
<br />
<br />'111e person conducting the sale may, for any cause he or she deans expedient,
<br />postpone the sale fran tiroo to time w1til it shall be canpleted and, in every
<br />such case, notice of postponement shall be given by public declaration thereof
<br />by such person at the time and place last appointed for the sale; provided, if
<br />the sale is postponed for longer than one (1) day beyond the date designated in
<br />the notice of sale, notice thereof shall be given in the same manner as the
<br />original notice of sale.
<br />
<br />14. Hanedies Not Exclusive. Trustee and Beneficiary, and each of than, shall
<br />be entitled to enforce payment and perfo~lce of any indebtedness or obligation
<br />secured hereby and to exercise all rights and powers under this Deed of Trust
<br />Construction Security Agreanent or under any loan instrumnnt or other agreanent
<br />or any laws nem or hereafter enforced, notwithstanding sane or all of the indebted-
<br />ness and obligations secured hereby which may nem or hereafter be otherwise secured,
<br />whether by lrortgage, deed of trust, pledge, lien, assignment or othenvise. Neither
<br />the acceptance of this Deed of Trust Construction Security Agreanent nor its enforce-
<br />ment, whether by court action or pw'suant to the power of sale or other powers herein
<br />contained, shall prejudice or in any manner affect Trustee's or Beneficiary's right
<br />to realize upon or enforce any other security now or hereafter held by Trustee or
<br />Beneficiary, it being agreed that Trustee and Beneficiary, and each of thEll1, shall
<br />be entitled to enforce this Deed of Trust Construction Security Agreement and any
<br />other security now or hereafter held by the Beneficiary or Tnlstee in such order
<br />and manner as they, or either of thEll1, may in their absolute discretion detennine.
<br />No ranedy herein conferred upon or reserved to Trustee or Beneficiary is intended
<br />to be exclusive of any other remedy herein or by law provided or pennitted, but
<br />each shall be cumulative and shall be in addition to every othElr remedy given here-
<br />under or nem or hereafter existing at law or in equity or by statute. Every power
<br />or ranedy given by any of the loan instruments to Trustee or Beneficiary or to
<br />which either of thEll1 may be othenvise entitled I1UIY be. exercised, concurrently or
<br />independently, fran time to tiJl~ and as often as may be deaned expedient by 'l'rustee
<br />or Beneficiary, and either of them may pursue inconsistent ranedies. Nothing herein
<br />shall be construed as prohibiting Beneficiary fran seeking a deficiency judgment
<br />against Trustor to the extent such action is pennitted by law.
<br />
<br />
<br />r--
<br />
<br />15. Request for Notice. Trustor hereby requests a copy of any notice of
<br />default and that any notice of sale hereunder be mailed to Trustor at the address
<br />set forth in the first paragraph of this Deed Construction Security Agreement.
<br />
<br />IL
<br />
<br />16. Appointment of Successor Trustee. Beneficiary may, fran time to time, by
<br />written instnunent executed aud acknowledged by I3eneficiary, mailed to Trustor alld
<br />recorded in the County in which the property is located and by otherwise canplying
<br />with the provisions of the applicable law of the State of Nebraska, &1.lbstitute a
<br />successor or successors to the Trustee named herein or acting hereunder.
<br />
<br />
<br />I
<br />h
<br />
<br />-4-
<br />
|