88100274 - Laserfiche WebLink

Browse

I I 88- 100274 6 Eminent Domeln. lender 1$ hereby assigned all compensatIOn. awards. damages and other payments or reilef (herelnalter "Proceeds) In connectlon Wl:!l condemnation or other laking of the Properly or part thereof, or for conveyance '" lieu 01 condemnation. Lender shall be entitled at its option to commence. appear in and prOSflcute in its own name any action or proc\~edin9s. and 5hall also be entitled to make any compromise or settlement In connection with such taking or damage. In the event any portion of the Property is so taken or damaged. Lender shall have the option, in its sole and absolute discretion. to apply all such Proceeds. after deducting therefrom all costs and expenses incurred by it ill connection with such proceeds. upon any indebtedness secured hereby and in such order as Lender may determine. or to apply all such Proceeds. after such deductions. to the restoration of the Property upon such conditions as.- Lender may determine. Any application of Proceeds to indebtedness shall not extend or postpone the due date of "my payments under the Note. or cure any default thereunder or hereunder. 7. Perform. nee by lender. In the event of Borrower's failure to perform any of the covenents herein or make any payments required hereby. or if any act is taken or legal proceeding commenced which materially affects Lender's interest in the Property. Lender may in its own discretion. but without obligation todo so. and without notice to or demand upon Borrower and without releasing Borrower from any obligation. do any act which the Borrower has agreed bu: fails to do and may also do any other act It deems necessary to protect the security hereof. Borrow~r shall. immediately upon demand therefor by Lender. pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by Lender of the foregoing rights. together wilh interest thereon at the rate provided in Ihe Note. which shall be added to the indebtedness secured hereby. Lender shall not incur any personal liability because of anything it may do or omit to do hereunder. 8. Event. of Def.ult. The following shall constitute an event of default under this Deed of Trust: (a) Failure to pay any installment of princioal or interest or any other sum secured hereby when due. or failure to pay when due any other indebtedness of Borrower to Lender: (b) A breach of or default u:lder any provision contained in the Note. this Deed of Trust. any document which secures the Note. and any other encumbrance upon the Property: (c) A writ of execution o'r attachment or any similar process shall be entered against Borrowerwhich shall become a lien on the Property or any portion thereof or interest therein: (d) There shall be filed by or against Borrower an action under any present or future federal, state or other statute. law 01 regulation relating to bankruptcy, insolvency or other relief for debtors: or there shall be appointed any trustee. receiver or liquidator of Borrower or of all or any part of the Property. or the rents, issues or profits thereof. or Borrower shall make any general assignment for the benefit of creditors. (e) The sale, transfer. assignment. conveyance or further encumbrance of all or any part of or any mterest In the Property. either voluntarily or involuntarily. without the express written consent of Lender (f) If Borrower is not an individual, the sale. transfer. assignment. conveyance or encumbrance of more than _ percent of (it a corporation) its issued and outstanding stock or (if a partnNship) _ percent of partnership interests. 9. Remedle.: Acceleration Upon Default. In the event of any Event of Default Lender 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 Lender may' (a) Demand that Trustee exercise the POWER OF SALE granted herein. and Trustee shall thereafter cause Borrower's interest in the Property to be sold and the proceeds to be distributed, all in the manner provided in the Nebraska Trust Deeds Act: (b) Either in person or by agent. with or without bringing any action or proceeding. or by a receiver appointed by a court and without regard 10 the adequacy of its security. enter upon and take possession of the Property. or any part thereof. in its own name or in the name 01 the Truslee. and do any acts which it deems necessary or 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. with or without taking possession 01 the Property. sue for or otherwisE" collect the rents. issues and prolits thereof, including those past due and unpaid. and apply the same. less costs and expenses of operation and collectIOn including attorneys' fees. upon any indebtedness secured heieby, all in such order as Lender may determine. The entering upon and takmg possession of the Property. the collection of such rents. issues and profits and the application thereof as aloresaid. shall not cure or waive any default or notice of delault hereunder or invalidate any act done in response to such default or pursuant to such notice of delault and, notwithstanding the continuance in possession of the Property or the collection. receipt and application of rents, issues or profits, Trustee or Lender shall be entitled to exercise every right provided for in any of the Loan Instruments or by law upon occurence of any event 01 default. including the right to exercise the power of sale: and (e) Commence an action to foreclose this Deed of Trust as a mortgage. appomt a receiver. or speCifically enforce any of the covenants hereof; No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein or by law provided or permitted. but each shall be cumulative. shall be in addition to every other remedy given hereunder or now or hereafter eXIsting at law or in eqUity or by statute. and may be exercised concurrently, independently or successively. 10. Tru.I... The Trustee may resign at any time without cause. and Lender may at any time and Without cause appOInt a successor or substitute Trustee. Trustee shall not be liable for any loss or damage unless due to actionable negligence or Willful misconduct. and shall not be required to take any action in connection with the enforcement 01 this Deed of Trust unless indemnified. in writing. for all costs. compensatIOn or expenses which may be associated therewith_ In addition. Trustee may become a purchaser at any sale of the Properly (judicial or under the power of sale granted herem): postpone the sale of all or any portion of the properly. as provided by law: or sell the Property as a whole. or in separate parcels or lots 11. Fulure Advance.. Upon request of Borrower. Lender may. at its option. make additional and luture advances and readvances [0 Borrower. Such advances and readvances, with interest thereon. shall be secured by this Deed of Trust. At no time shall the principal amount of Ihe mdebtedness secured by this Deed of Trust. not in- cluding sums advanced to protect the security of thiS Deed of Trust. exceed the anginal principal amount stated herein. or slo.o...nOQ- 00 -_. whichever is greater. 12. Mlscelleneous Provisions. (a) Borrower Not Aelealed. Extension 9f the time lor payment or modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release. In any manner. the liability of the anginal Borrower ~nd Borrowers successors in irilerest Lender shall not be required to commence proceedings agamst such successor or reluse to extend time lor payment or otherwise modify amortizalion 01 the sums secured by this Deed of Trust by reason of any demands made by the onglOal Borrower and Borrowers 3uccessors in Interest. (b) lende,'. Power.. Without afleeting the liability of any other person liable lor the payment 01 any obligation herem mentioned. and without aflecting the lien orcharge of this Deed of Trust upon any portion of the Property not then or theretofore released as security for the full amount of all unpaid obligations. Lender may. from time to time and without notice (i) release any person so liable. (Ii) extend the maturity or alter any 01 the terms of any such obligations. (iii) grant other indulgences. (iv) release or reconvey. or cause to be released or reconveyed at any lime at Lender's options any parcel. portion or all of the Property, (v) take or release any other or additional security for any obligahon herein mentioned. or (vi) make compositions or olher arrangements with debtors in relation thereto. (c) Fome.rance by LenderNol1I Waiver. Any lorbearance by Lender In exercising any right or remedy hereunder. or otherwise aflorded by applicable law. shall not be a waiver of or preclude the exercise 01 any such right or remedy. The procurement of insurance or the payment 01 taxes or other liens or charges by lender shall not be a waiver 01 Lender's right to accelerate the matunty 01 the indebtedness secured by this Deed 01 Trust. (d) Succ...ors .nd A..lgn. Bound: Joint and Sever.' L1.bmty; C.pllon.. The covenants and agreements herein contained shall bind. and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower. subject to the provisions 01 paragraph 8 (e) hereof. All covenants and agreements of Borrower shall be joint and several. Thecaptions and headings of the paragraphs of this Deed of Trust are lor convenience only and are not 10 be used to interpret or define the provisions hereof. (e) R~u..ttorNotlce.. The parties hereby request that a copy 01 any notice 01 default hereunder and a copy of any nolice of sale hereunder be mailed to each party tothis Deed 01 Trust at the address set lorth above in the manner p~escribed by applicable law. Except for any other notice required under applicable law to be given in another manner. any notice prOVided lor In this Deed 01 Trust shall be given by mailing such notice by certified mail addressed to the other parties, at the address set lorth above. Any notice provided for in this Deed 01 Trust shall be deemed to have been gIVen to Borrower or Lender when given in the manner designated hereifl (f) In.pecllon. Lender may make or cause to be made reasonable entries upon and inspections of the Property. proVided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property (g) Reconvey.nce. Upon payment of all sums secured by this Deed 01 Trust. Lender shall request Trustee to reconvey the Property and shall surrender this Dl!cd of Trust and all notes evidencing indebtedness secured by this Deed 01 Trust 10 Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled thereto. Such person or persons shall pay all costs of recordation, il any. (h) Penon.IProperty. Securlly Agreement As additional security for the payment 01 the Notc alllixtures. equipment. and other personal property used in connection with the real estate or improvements located thereon. and not otherWise declared or deemed to be a pari of the real estate secured hereby. shall be subject to a security interest in lavor 01 the Lender undpr the Nebraska Uniform Commercial Code ThiS IOstrum~nt shall be construed as a Security Agreement under said Code, and the Lender shall have all the righls and remedies of a secured patty under said Code in addition to the fights and remedies created under and accorded the Lender pursuant to this Deed of Trust. (i) Severebfllty. In the event that any proviSion of this Deed of Trust con ict With applicable la are declared invalid or otherwise unenlorceable. such conflict or invalidity shall not affect the other provisions 01 this Deed olTrust or he Note which ca e giv cHecl without the conflicting provision. and to this end the provisions of tha Deed of Trust and the Note are declared to be se'lierab Borrower has executed this Deed of Trust the date written above. "-'j J~ Wi \'.~ ("- I'.:.'. LO ./11 '.~-' / , ~. "