88100024 - Laserfiche WebLink

Browse

I 88~{OO()2t.f; . rate(s) provided for herein shall be automatically reduced to the maximum lawful rate allowed under applicable law, and the Loan Agreement shall be deemed to have been, and shall be, reformed and modified to reflect such reduction; and (E) neither Mortgagor nor any guarantor or endorser shall have any action against the Beneficiary for any damages arising out of the payment or collec- tion of any Excess Interest. SECTION 5.6 Indemnification; Reimbursement. Mortgagor shall reimburse Beneficiary and Trustee, upon demand, for all costs and expenses incurred by Beneficiary and Trustee in connec- tion with the administration and enforcement of this Deed of Trust, and shall indemnify and hold harmless Beneficiary and Trustee, upon demand, from and against any and all losses, liabil- i ty (including liabi li ties for penalties), actions, suits, pro- ceedings, jUdgments, demands, costs and expenses (including, wi thout limitation, reasonable attorneys' fees and the allocated costs of staff counsel) incurred by Beneficiary or Trustee hereun- der or in connection herewith. In the event Mortgagor shall fail to perform any act or thing which it has covenanted to do hereun- der or any warranty on the part of Mortgagor contained herein shall be breached, Beneficiary or Trustee, as the case may be, may (but shall not be under obligation to) do the same or cause it to be done or remedy any such breach, and may expend its funds for such purpose. Any and all amounts so expended by Beneficiary shall be repayable to it by Mortgagor upon demand therefor, with interest at the Default Rate. If any action or proceeding is commenced to which action or proceeding Beneficiary or Trustee is made a party or in which it becomes necessary to defend or uphold the Lien of this Deed of Trust, Mortgagor shall, on demand, reimburse Beneficiary and Trustee for all reasonable expenses (including, without limitation, reasonable attorneys' fees and the allocated costs of staff counsel) incurred by Beneficiary or Trustee in any such action or proceeding. In any action or proceeding to foreclose this Deed of Trust or exercise the power of sale granted hereunder or to recover or collect the Indebted- ness, the provisions of law relating to the recovering of costs, disbursements and allowances shall prevail unaffected by this covenant. Mortgagor's obligations under this Section 5.6 shall survive the satisfaction of this Deed of Trust and the discharge of Mortgagor's other obligations hereunder. The provisions of this Section 5.6 shall not be construed in limitation of any other provision of the Loan Agreement. SECTION 5.7 Choice of Law. The internal laws of the State of Nebraska shall govern all matters hereunder. SECTION 5.8 No Merger. The rights and estate created by this Deed of Trust shall not, under any circumstances, be held to have merged into any other estate or interest now owned or hereafter acquired by Beneficiary unless Beneficiary shall have consented to such merger in writing. -30- L- L L -.J r- , j 1 J (.