|
<br />r
<br />I co
<br />co
<br />
<br />6. Einlnenl Domain. Lender 15 hereby assigned all compensation. awards, damages and other payments or rei lei lheremsller "Proceeds") In connection With
<br />conr1emnallon or other laking or the Property Of part therB:,>I. or for conveyance In lieu of condemnation Lender shall be enlltled all1s option to commenco. appear In and
<br />prosecute in its own name any aclion or proceedings. and !:ihall also be enlitled 10 make any compromise or seUlemenlm connection with such laking or damage. In the
<br />9'V'enll1ny portion of the Propeny Is 50 taken or damaged. Lender shall have the option, in its sole and absolute discrellon, 10 apply all such Proceeds. after deducting
<br />C\l therefrom all costs and expenses Incurred by it In connection with such proceeds. upon any indebtedness secured hereby and In such order as Lender may determine, or to
<br />
<br />00 ~::~~t:~nS:s~hs~~~~e~d:~t:~:ro~upc:SI~~~~c:~~r:~~Od~~: ~:~t~;a~~~~~~:~~:~~i:h~y NUcit~~ o~ucCu~ec~~:~~f~~I~~h;~~~~~e~~~ ~:::~~:e~' Any application 01 Proceeds to
<br />
<br />C'\l 1. P.rformanc.br Lender. In theavent of Borrower's failure to perform any of the covenents herein or make any payments required hereby. or if 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 10 do 90, and without notice
<br />o to or demand upon Borrower and without releasing Borrowerfrom any obligation, do any act which 1he Borrower has agreed but fails to do and may als~ do any other act It
<br />
<br />...... :=::sd:c;:r:,~d~r r~~:~~~~~~~~i~~~hhee;:~:~~~~~~:~~:~~f :~e~~~~~~~g ~~90h~S~~~~~~~~:~~~~t~~e~~~hde~~:~~t 't~;~~t~e;r~l~i~~~t~nat~~ ~~:~~~~~~~~~~~:~~dse~~~
<br />
<br />the Indebtedness secured hereby. lender shall not incur any personal liability because of anything it may do or omit to do hereunder
<br />
<br />8. EnntJi 01 aefault, The following shall con5titute an event of default under thiS Deed 01 Trust:
<br />
<br />(a) Failure to pay any Installment of principal or interest or any other sum secured hereby when due. orfailure to pay when due any other Indebtednossof
<br />Borrower to Lender:
<br />
<br />(b) A breach of or default under any provision conlalned in the Nole. this Deed of Trust. any document which secures the Note, and any other
<br />encumbrance upon the Property;
<br />
<br />(e) A writ at execution or attachment or any similar process shall be entered against Borrower which shall become a lien on the Property or any portion
<br />th9reof or interest therein:
<br />
<br />(d) There shall be filed by or against Borrower an action under any present or future federal, state or other statute, law or regulation relating to
<br />bsnkruptcy, Insolvency ar a1herrelie' for debtors: or there shall be appointed any trustee, recelveror liquidalorof Borrower or of all or any part at the Property, or
<br />the renls, issues or profits thereot. or Borrower shall make any general assignment for the benefit of creditors
<br />
<br />(e) The sale. transler. assignment. conveyance or further encumbrance 01 all or any part of or any inlerest in the Property, either voluntarily or
<br />Involuntarily, without the express written consent of Lender.
<br />
<br />(r) 11 Borrower is not an individual, the sale, transler, assignment. conveyance or encumbrance of more than __ percent of fit a corporation) its
<br />
<br />Issued and outstanding stock or (if a partnership) _ percent 01 partnershIp Interests
<br />
<br />9. Rem.dl..; Accel.l'lllIon Upon Default. In the event of any Event of Defaull Lender may declare all indebtedness secured hereby to be due and payable and (he
<br />same shall thereupon become due and payable without any presentment. demand, prOlest or notice of any kind. ThereaHer Lender may:
<br />
<br />(a) Demand that Trustee exercise the POWER OF SALE granled herein, and Truslee shalllherealter cause Borrower's interest in the Property 10 be sold
<br />and the proceeds to be distributed, all in the manner provided in the Nebraska Trust Deeds Act;
<br />
<br />(b) Either in person or by agent. with or Without bringing any action or proceeding, or by a receiver appOlnled by a court and without regard to the
<br />adequacy at its security, enter upon and take possession 01 the Property. or any part lhereof. in its own name or In the name of the Trustee, and do any acts which
<br />it deems necessary or desirable to preserve the value, marketability or rentability 01 the Property. or part thereof or inlereslthereln, increase the income
<br />theretrom or protect the security hereof and, with or wilhouttaking possessIon of Ihe Properly, sue for or otherwise colleclthe rents. Issues and profits thereof,
<br />including those past due and unpaid, and appty the same, less costs and ekpenses of operation and collecllon including attorneys'lees. upon any mdebtedness
<br />secured hereby, all in such order B$ Lender may determine. The entoring upon and taking possession ot the Property. tha collectIon 01 such rents. issues and
<br />profits and the application the real as aforesaid, shall nol cure or waive any delault or notice of default hereunder or invalIdate any acl done In response to such
<br />default or pursuant to such notice of default and, nolwi1hslandlng the continuance in possessIon 01 the Property or the collection, receIpt and application 01
<br />rents, issues or profits, Truslee or Lender shall be enlltied to exercIse every righl prOVIded lor In any of Ihe Loan Instrumenls or by law upon occurence of any
<br />event of default, including the right to exercise the power of sale: and
<br />
<br />Ic) Commence an action to foreclose this Deed of Trust as a mortgage, apPolnl a receiver, or speCIfically enlorce any of the covenants hereof:
<br />
<br />No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclUSive of any other remedy heretn or by law prmllded or perrT'lIlted, bul each shall be
<br />cumulative, shall be in addition to every other remedy given hereunder or now or herealler existIng allaw or In eqUity or by slatule, and may be exercIscd concurrently,
<br />independently or successively.
<br />
<br />10. Tru.IH. The Trustee may resign at any time wllhout cause. and Lender may al any time and without cause appolnl a successor or substitute Trustee Trustee
<br />shall not be liable for any loss or damage unless due to acllonable negligence or Willful mlsconducl. and shall not be reqUired to take any actIOn In connection wllh the
<br />enforcement of this Deed 01 Trust unless indemnified, In wrillng. for all costs, compensatIOn or expenses which may be associated lherewlth In addition. Trustee may
<br />become B purchaser at an~f sale of the Property (judiCIal or under the power 01 sale granled herein). postpone 1he sale 01 all or any porllon 01 the property. as prOVided by law:
<br />or sell the Property as a whole, or in separate palcels or lots
<br />
<br />11. Future Advlnc... Upon request of Borrower, Lender may, allts opuon, make addlhonal and luture advances and readvances 10 Borrower Such advances and
<br />readlta~ces, with Interest thereon, shall be secured by thiS Deed of Trust At no time shall the prinCipal amount 01 Ihe Indebtedness secured by Ihls Deed of Trust. not In-
<br />
<br />cluding sums advanced to protect the security olthls Deed 01 Trust. exceed Ihe Original prinCipal amount stated hareln. or S ~ ___ ____ __. __. - -~ . whichever IS
<br />greater.
<br />
<br />i
<br />I
<br />I
<br />I
<br />,
<br />i
<br />~
<br />
<br />12. Mlacell.n.ou. Provlllon.,
<br />
<br />(al Bonower Not R.I....d. ExtenSion ollhe time lor pa)lment or modlflcallon of amorllzalion 01 the sums secured by Ihis Deed of Trust granted by
<br />Lender to any successor in interest 01 Borrower shall not operatE' 10 reloase. 10 any manner. tha liability ollhe anginal Borrower and Borrower's successors In
<br />interest. lender shall not be required 10 commenco proceedings against such successor or reI use to eldend time lor paymenl or olherwise modify amortization
<br />ot the sums secured by this Deed 01 Trust by reason 01 any demands made by the original Borrower and Borrower's successors in Inlerest
<br />
<br />(bl lend.r'.Power.. Wlthoutaflectlng the hab,llly 01 any olher person liable for the paymenl of any obligation herein menlloned. and Without affecting
<br />the lien or charge of lhis Deed of Trust upon any porllon 01 Ihe Property notlhen or therelofore released as security lor Ihe lull amount 01 all unpaid obllgallons.
<br />Lender may. from time 10 tlma and wllhou1 notice (I) release any person so liable. (II) elttend the maturity or altel any of the ferms of any such obligations, (Iii)
<br />grant other indulgences, (iv) release or reconvey. or cause 10 be released or reconveyed al any lime al Lender's opllons any parcel, portion or all 01 the Property,
<br />(v) take or release any other or additional security Ict any obllQIHlon herein menlloned. or (VI) make composillons or other arrangements with debtors In relation
<br />thereto,
<br />
<br />(c) Forbll.r.nce by l.nd.r Nol. Waiver. Any forbearance by Lender In exerclslOg any right or remedy heleunder. or olherwlse afforded by applicable
<br />law, shall not be a waiver ot or preclude the exercise 01 any such right or remedy The procurement of Insurance or the payment of taKes or other liens or charges
<br />by Lender shall not be a waiver at Lendar's right 10 accelerate the maturity 01 the Indebtedness secured by this Deed of Trust
<br />
<br />(dt Succeuon .nd ...lliInl Bound; Joint Ind S.".rll Lllblllly; Clpllonl, The covenants and agreements herein contained shall bind, and the rights
<br />hereunder shall Inure to, the respectivu successors and assigns 01 Lender and Borrower. sublBCllO the prOVISIonS of paragraph 8 (el hereof. All covenanls and
<br />agreements of Borrowershall be ioinl and several_ The captions and headIngs of the pIJragraphs of thiS Deed 01 Trust are lor convenience only and are not 10 be
<br />used to interpret or derine the provisions hereol.
<br />
<br />Ie) Requ..llorNoUc... The parties hereby request that II copy of any nollce 01 default hereunder and a copy 01 any notice at sale hereunder be mailed to
<br />each party to this Deed or Trust at the address set forth above in the manner prescribed by applicable law Excepl for any other notice required under applicable
<br />law to be given in another manner, any notice provided lor in this Deed of Trus1 shall be given by maIling such notice by cer11hed mall addressed to the other
<br />parties. at the address set forth above.
<br />
<br />Any notice provided lor 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) Inlpectlon. Lender may make or causa to be made reasonable entnes upon and Inspections 01the Property, provided that Lender shall give Borrower
<br />notice prior to any such inspection specifying reasonabte cause therefor related to Lender's interest In the Property.
<br />
<br />(g) Recon...,.nc.. Upon payment 01 all sums secured by this Deed 01 Trust. Lender shall request Trustee to reconvey the Property and shalt surrender
<br />this Oeed of Trust and all noles evidencing indebtedness secured by this Deed of Trust to Trustee Trustee shall reconvey the Property wilhou1 warranty and
<br />without charge 10 the person or persons legally entitled thereto Such person or persons shall pay all cas Is of recordation, If any
<br />
<br />(hl Peraon8' Property. Security Agre.menL As additional security lor the payment of the Note aU fixtures, equlpmenl, and other personal property used
<br />In connection with the real estate o. improvements located theleon, and not otherwise declared or deemed 10 be a pari 01 the real estate secured hereby. shall be
<br />subject to a security intereat in favor of the Lender undpr the Nebraska Uniform Commercial Code. This tnstrumrmt shall be construed as a Security Agreement
<br />under said Code. and the Lender shall have all the rights and remedies of a secured party under said Code In additIon to the rights and remedies created under
<br />and accorded the Lender pursuant to this Deed of Trust
<br />
<br />(I) s.w.rabOlly. In the eventlhat an)' provision of this Deed of Trust conflict With applicable law or are declared invalid or otherwise unenforceable, such
<br />conflict or invalidity shall not affect the other provisions of this Deed of Trusl or the Note which can be given effecI withoul the confllcllng proviSion, and to thiS
<br />end the provisions 01 the Deed ot Trust and the Note are declared to be severable
<br />
<br />Borrower has executed thl! Deed of Trust Ihe date written above
<br />
<br />A 'il/, ,-" /'-;'. ,
<br />/Lli -/7<.',' t "--,. -' - ", .,
<br />Bmmwer ( Del ber t M. 'Bt,own)
<br />
<br />__0-'.a~~~i:_'_'L'"" .
<br />Bd"ower (Marian M. Brown)
<br />
|