|
<br />,
<br />co
<br />co
<br />
<br />6 Emlnen' Domain. Lender IS hereby aSSigned all compensation. awards. damages and other payments or relief (hereinafter "Proceeds"lm connechon wllh
<br />condemnation or other taking ol1he Properly or part therenf. or for conveyance In lieu of condemnation Lender shall be enUlted at its option to commence. appear In and
<br />prosecute in its own name any action or proceedings. and 5hall also be entitled 10 make any compromise or settlement in cannaellan wllh such taking or damage. In the
<br />Bvent any portion 01 the Proper1y is so laken or damaged. Lander shall have the option. In its sole and absolute discretion, to apply all such Proceeds, after deducting
<br />Iherefrom all cosls and exppnses incurred by it in connection wl1h such proceeds. upon any Indebtedness secured hereby and in such order as lendar may determine, or to
<br />apply all such Proceeds. aner such deductlDns, to the restoration of the ProperlY upon such conditions 8S lender may determine, Any application of Proceeds 10
<br />indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder.
<br />
<br />7. Performlnee by Lender. In the event of Borrower's failure to perform any of the covenants herein or make any p3yments required hereby, or 11 any act Is taken or
<br />legal proceeding commenced which materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation to do so. and without oollce
<br />to or demand upon Borrower and without releasing Borrower from any obligation, do any act which the Borrower has agreed but falls to do and may also do any other act it
<br />deems necessar\' to protect 1I,e security hereor. Borrower shall. immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums
<br />expended by Lender in connection witl'1the exercise by lender of the foregoing rights. 10gether with interest thereon at the rate provided in the Note, which shall be added to
<br />the indebtedness secured hereby, Lender shal~ not incur any personalliabllily because of anything it may do or omit to do hereunder,
<br />
<br />8, Eventlol D.r.ull. The following shall constitute an event 01 default under this Deed of Trust'
<br />
<br />(a) Failure to pay any Installment of principal or Interest or any other s\Jm secured hereby when due, or failure to pay when due Bny other indebtedness of
<br />Borrower to Lender;
<br />
<br />(b) A breach of or default under any provision contaIned in the Note, this Deed 01 Trust. any document which secures the Note. and any other
<br />encumbrance upon the Property;
<br />
<br />(c) A writ of execution or attachment or any similar process shall be entered against Borrower which shall become a lien on the Property or any portion
<br />thereof or Interest therein;
<br />
<br />(d) There shall be flied by or against Borrower an action under any present or future federal, state or other statute, law or regulation relating to
<br />bankruptcy, insolvency or other relief for debtors: or there shall be appointed any trustee, receiver or liquidator of Borroweror of all or any part of the Property, or
<br />the rents, issues or profl1s therdof, or Borrower shall make any general assignment for Ihe benefit of creditors
<br />
<br />Ie) The sale, transfer, assignment, cDnveyance or further encumbrance 01 all or any pari of or any interest in the Property, either voluntarily or
<br />involuntarily; without the eKpress written consent of Lender
<br />
<br />(f) If Borrower is not an individual. the sale, transler. assignment. conveyance or encumbrance of more than - percent Go; tit a corporation) its
<br />
<br />issued and outstanding stock or (if a partnership) ~ percent of partnership Interests
<br />
<br />9 Remedleli Accele'lllon Upon Deflul.. In the event 01 any EVE"t of Defaull Lender may declare all indebtedness secured hereby to be due and payable and the
<br />same shall thereupon become due and payable without any presentment, demand, protes1 or notice of any kind. Thereafter lender may:
<br />
<br />la) Demand that Trustee exercise Ihe POWER OF SALE granted herein, and Trustee shall thereafter cause Borrower's interest in the Property to be sold
<br />and the proceeds to be distributed. all In the manner provided 10 the Nebraska Trust Deeds Act;
<br />
<br />(b) Either in person or by agent. with or Without bflnglOg any action or proceeding. or by a receiuer appointed by a court and Without regard \0 the
<br />adequacy of its security, enter upon and take possession ollhe Property, or any pari thereof, In ItS own name or in the name of the Trustee. and do any acts which
<br />it deems necessary or desirable to presef\le the value, marketability or rentability of the Property, or part thereof or interesttherelO, increase the Income
<br />therefrom or protect the security hereof and. WIth or without taking possession of the Property, sue for orotherwisecollect the rents. Issues and profits thereof.
<br />including those past due and unpaid. and apply the same, less costs and expenses of operation and collection including auorneys' fees. upon any indebtedness
<br />secured hereby, all in such order as Lender may determine. The enlenng upon and laking possession 01 the Property, the collection of such rents. issues and
<br />profits and the application thereof as aloresaid, shall not cure or waIve any defaull or notIce of default hereunder or Invalidate any act done in responselosuch
<br />default or purs'uant to such notice 01 default and. notwlthstandlOg the contInuance In possession 01 the Property or the collection. receipt and application of
<br />rents. issues or profits, Trustee or Lender shall be entitled to exercise every righl proVIded for 10 any of the Loan Instruments or by law upon occurence ot any
<br />event of default. including the right to eKercise the power of sale: and
<br />
<br />(c) Commence an aclion to foreclose this Deed of Trust as a mortgage. apPoint a receiver, or speCIfically enforce any of the covenants hereof;
<br />
<br />No remedy herein conferred upon or reserved t-:> Trustee or Lender IS intended to be exclusive of any other remedy herem or by law proVided or permitted. but each shall be
<br />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.
<br />independently or successively.
<br />
<br />10, Trultae. The Trustee may r.asign at any time WllhDut cause and Lender may al any lime and WIthout cause appoInt a successor or substitute Trustee_ Trustee
<br />shall not be liable for any loss or damage unless due to actionable negligence or Willful misconduct. and shall not be reqUIred to lake any action in connection wllh the
<br />enforcement of this Deed of Trust unless indemnified. '" writing. lor all cos1s. compensation or expenses which may be assOCIated therewith. In addition. Trustee may
<br />become a pUrCh8!er at any sale of the Property (judicial or under the power 01 sale granted hereIn). postpone the sale 01 all or any portion of the property. asprovlded by law:
<br />or sell the Property as a whole. or in separate parcels or lols
<br />
<br />11. Fulure Advance.. Upon request of Borrower. Lender may. at Its option, make addlllonal and future advances and readvances to Borrower. Such advances and
<br />readvances. with interest thereon, shall be secured by thiS D'3ed of Trust. At no time shalllhe prinCipal amount of the IOdebtedness secured by lhls Deed 01 Trust. not in-
<br />
<br />cluding sums advanced to protect the security of this Deed of Trust. exceed the Original principal amDunlstated hereIn, or $_____ --- . whichever1s
<br />greater.
<br />
<br />12, MlsceUlneous Provlllonl.
<br />
<br />(11) Borrower Not Relelsed. Extension of the time ior payment or modification 01 amortization of the sums secured by thiS Deed 01 Trust granted by
<br />Lender to any successor in interest of Borrower shall not operate to release. '" any manner, the liability of the Original Borrower and Borrower's successors 10
<br />interest. Lender shall not be reqUired to commence proceedings agamst such successor or refuse to extend ume tor payment or otherWise modify amor1lzation
<br />of the sums secured by this Deed of Trust by reason of any demands made by the original Borrower and Borrower's successors m interesl
<br />
<br />(b) Lende,'s power.. Without aUecting the liability 01 any other person liable lor the payment of any obligatIon herem mentioned, and wltnouUl1eC1lng
<br />t:'e lien or charge of this Deed of Trust upon any portion of the Property nol then or lheretofore released as securltv tor Ihe full amount of all unpaid obligatiOns.
<br />Lender may. from time 10 time and without notice Ii) release any person so liable, Ilil extend the matunty or alter any of Ihe terms of any such obligatIOns. (iii)
<br />grant other indulgences. (iv) release or recon\ley, or cause to be released or reconveyed at any time at Lender's options any parcel. portIOn or all 01 the Property,
<br />(v) take or release any other or additional secunty for any oblIgation herein mentioned, or (VI) make compositions or other arrangements With debtors m relation
<br />thereto.
<br />
<br />(c) Forbe.r.nee by Lender Not a Waiver. Any iorbearance by Lender In exerCISing any nght or remedy hereunder. or otherWise attorded by applicable
<br />law. shall not bea waiver at or preclude the exercise of any such right or rem'3dy The procurement at insuranCE:! or the payment 01 taxes or other liens or charges
<br />by Lender shall nol be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by thiS Deed of Trust
<br />
<br />(d) Suce...orl and AlIlgnl Boundj Joint Ind Severa' Liability; Capllons. The covenants and agreements herem contained shall bind. and the fights
<br />hereunder shall inur9 to, the respective successors and assigns 01 Lender and Borrower. subleclto the proVISIons at paragraph B (el hereol All coyenanls and
<br />agreements of Borrower shall be joint and several The captions and headings 01 the paragraphs 01 this Deed of Trust arc for conveOlence only and are not 10 be
<br />used to Interpret or define the provisions hereof.
<br />
<br />(e) Request lor Nollcel-. The parties hereby request that a copy of any notice at default hereunder and a cop.,. 01 ony notlCf' of sale hereunder be malted to
<br />each party tothis Deed 01 Trust at the address set forth above in the manner preSCribed by applicable law Exct!pt for any other nollce reqUired under applicable
<br />law 10 be given in another manner, any notice prOVided for In this Deed cf Trust shall be given by mailing s~lch nollce by certl"ed mall addressed to the other
<br />parties, at Ihe address set forth above.
<br />
<br />Any notice provided for in this Deed of Trust shall be deemed to have been given to Borrower or Lender when gIven In the manner designated herein.
<br />
<br />(f) Inspection. Lender may make orCBuse to be made reasonable entries upon and Inspections of the Property, prOVided that lender shall give Borrower
<br />noUce prior to any such inspection specitylng reasonable cause theretor related to Lender's interest in the Properly
<br />
<br />(g) Rlconvlyance. Upon payment of all sums secured by thIS Deed of Trust, Lender shall requesl Trustee to reconvey lhe Property and shall surrender
<br />this Deed 01 Trust and all notes evidencing indebtedness secured by thiS Deed of Trust to Trustee. Trus1ee shall reconvey the Property without warranty and
<br />without charge to the person or persons legally entitled thereto. Such person Dr persons shall pay all costs of recordation, if any.
<br />
<br />(h) Perlonal Prop.rty. Security Agr..mlnt. As additional security tor the paymenl of the Nole all fixtures. equipment. and other personal property used
<br />in connection with the rBal estate or improvemenls located thereon, and not otherWIse declared or rleemed to be a part 01 the real estate secured hereby, shall be
<br />subject to a security Interest in favor of the Lender undpr the Nebraska Uniform Commercial Code ThiS inslruml'\nt shall be construed as a Security Agreement
<br />under said Code, and the Lender shall have all the fights and remedies 01 B secured party under said Code In additIon to Ihe fights and remedies created under
<br />and accorded the Lender pursuant to this Deed of Trust
<br />
<br />(i) Senrllbllty. In the event 1hat any prOVISion of thIS Deed 01 Trust contllct With applicable law or Bre declared Inva.lld or olherwlselJl,onforceable, such
<br />conflict or InvBlldltyshBII not aUeet the other provisions of thiS Deed 01 Trust or the Note which can be given I2tfect WIthout the conlhchng prOVISIon. and to thiS
<br />end the provisions of the Deed of Trust and the Note are declared to be severable
<br />
<br />Borrower has e.eculed this Deed 01 Truslthe date writ1en .bo,e ~ ~ ~
<br />
<br />
<br />
<br />Calton L.~~, husband
<br />
<br />M~~e-j"w~
<br />
<br />rQ)
<br />lJ.-,
<br />t-
<br />C'l
<br />o
<br />.....
<br />
<br />L
<br />
|