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<br />deed olIN" evidencing or securing an obligatlan wllh priority In rig hI 01 p_ymenl over lhls Deed 01 Trusl or Ih~~';;;;m!I~r~h?~I~ has <br />or appears to have any priority over the lien created by this Deed of Trust; or any other creditor trios 10 (or does) seize or obtain B writ 01 <br />attachment against the Property {In each case, no grace period): or <br />IF) We, oranyperson who signs the Agreement. make an assignment forthe benelll of our or such person's creditors, become Insolvent or <br />become unable to meet our or such person's obligatIons generally as they become due (no grace period); or <br />(G) The persons who sign the Agreement laU to return the checks and credll cardls) issued under the Agreement when required by the <br />lerms of the Agreement (no grace period): or <br />IH) Any person who signs the Agreement obtains or attempts to obtain sums under the Account In excess 01 the credit available under the <br />Account. as provided In the Agreement lno grace period): or <br />(I) We. or any person who signs the Agreement, fall to keep any agreement contained In any of the Credit Documents not otherwise <br />speCified In this paragraph 14, or any of the representations contained In the Credit Documents Is Incorrect {ten (1 0) day grace period, unless <br />the failure is by its nature not curable, In which case no grace period or. of another grace period is specifIed In the Credit Documents, thai <br />grace period shall prevail). <br />15. REMEDIES. First Federal Lincoln has certain rights under the Credil Documents to la) cancel the right 01 the persons sIgning the <br />Agreement to any future advances under the Account without requiring accelerated repayment of any amounts outstanding under the <br />Account 11hRt is, "freeze" the Account); or (b) not only cancel1he rlghl to luture advances bul also require accelerated repayment or the <br />amounls outstanding under the account, plus the enllreaccrued interest, and other charges imposed on the Account(that is, "termInate" the <br />Accounl). <br />The Account Is aulomatically terminated upon the occurrence 01 an Evenl of Default (see paragraph 14 abovel, unless First Federal <br />Lincoln expressly states, in the notice given under paragraph 14(a) above, that the Account is frozen. <br />In addition, despite any other terms of the Credit Documents, First Federal Lincoln may freeze the Account immediately upon the <br />occurrence of any vIolation or other event specified in paragraph 14(b) above, even if the grace period, If any, has nol expired. First Federal <br />Lincoln can take this action without giving us notice and withoul declaring Ihe violalion or other evenl an E\!ent of Delault. <br />II First Federal Lincoln Ireezes the Account pursuant to this paragraph ralher than terminates it, we Will not be obligated 10 repay Ihe <br />amounts outstanding under the Account unlil the date such amounts are due, as speCified in the Agreement. If First Federal Lincoln <br />terminates the Account pursuant to this paragraph 15, rather than merely freezes It, the amounts outstanding under the Account and any <br />other amounts oUlstanding under the Credit Documents are immediately due and payable in full and we will be required to immediately repay <br />such amounts plus the entire accrued interesl, late charges and olher charges imposed on Ihe Account. If we do nat do so, First Federal <br />Lincoln will have 1he right to invoke any remedy given it by any of the Credil Documents. or any other remedy available to First Federal Uncoln <br />under applicable law. This includes, without limitation, invoking the power 01 sale under fhis Deed 01 Trust. <br />First Federal Lincoln shall be entitled 10 collect all reasonable cosls and expenses incurred In pursuing the remedies provided in this <br />paragraph 15, including, but not limited 10, reasonable attorney's fees and Irustee lees 01 nol more Ihan 110 of sale price <br />If First Federal Lincoln freezes the Account pursuBntlo thiS paragraph 15, Firsl Federalllncoln may slllllerminate the Account for any <br />reason at a later date in accordance with this paragraph 15, <br />If First Federal Lincoln freezes or terminates the Account pursuanllo thiS paragraph 15, all credll card(s) and unused checks obtained in <br />connection with the Accounf must be immediately mailed 10 First Federal Lincoln (see paragraph 10 above), In an)' event, once First Federal <br />Lincoln freezes or terminates Ihe Account under thIs paragraph 15, the persons who sign the Agreemenl will no longer have any right to <br />obtain additional advances under the Account. <br />If Firsl Federallincoln invokes the powerQf sale under thiS Deed 01 Trusl, First Federal Lincoln shall execule orcause Trustee 10 execute a <br />written nolice specifying, without limitation, the follOWing: (al the occurrence and nalure 01 an Event 01 Delault; (bl First Federal Lincoln's <br />election to accelerate the debt evidenced by the Agreemenl and to cause the Properly to be sold, andlcl our r.lght, If any. under applicable law, <br />to reinstate Ihe Account and avoid sale of the Property. First Federallincoln shall cause such notice to be recorded In each county In which <br />Ihe Property or some part thereol is localed, and shall have copies 01 such notice mailed to Ihe persons and In the manner preSCribed by <br />applicable law, <br />If we are permitted. under applicable law, but fail to reinslate In accordance WIth the terms of the nollce reqUired above in this paragraph <br />15, or II we are not permUted to so reinstate, Trustee shall give pubhc notice 01 sale ollhe Properly 10 the persons and in the manner <br />prescribed by applicable law. After the lapse of such time as may be required by applicable law, and our lailure to redeem Ihe Property by <br />payIng to First Federal Lincoln all sums secured by this Deed of Trust logelher wlIh all cosls and expenses Incurred by First Federal Uncoln <br />and for which it Is entitled 10 reimbursement. under applicable law. Truslee shall, wllhoul further demand on ornotlce 10 us, seUlhe Properly al <br />public auction to the highest bidder al the lime and place and under lhe terms de'lignaled 10 the publiC nollce of sale in one or more parcels <br />and in such order as Trustee may determine, Trustee may postpone sale 01 all or any parcel ollhe Properly by publiC announcemenl allhe <br />lime and place of any previously scheduled sale and from time lotlme thereafter may poslpone such sale by public announcement al the lime <br />Ilxed by the preceding postponement in the manner prescribed by applicable law. First Federal Lincoln or First Federal Lincoln's deSignee <br />may purchase the Property at any sale. <br />Trustee shall deliver to the purchaser a Trustee's deed conveying the Property so sold withoul any covenant or warranty, expressed or <br />implied. The recitals In the Trustee's deed shall be primo facie evidence 01 the truth 01 the slalements made Ihereln, Truslee shall apply Ihe <br />proceeds 01 the sale In the following order: (A) 10 all reasonable coste and expenses of lhe sale, Including, but nallimited to, reasonable <br />truslee's and attorneys' fees and costs of lIt1e evidence. all as and to the extent permllled by applicable law: (6) to all sums secured payable <br />pursuanl to paragraphs 5 and 25 01 this Deed of Trust; (C) to Interest payable under the Agreement; (01 to other charges under the Agreement <br />(E) to the principal payable under the Agreement: and (F) lhe excess, 11 any, to the person or persons legally entitled thereto. <br />16. OUR RIGHT TO REINSTATE. Regardless of Flrsl FederalUncoln's acceleralion of Ihe sums secured by Ihls Deed 01 Trust. we shall <br />have the rIghi, It permitted under applicable law. 10 receive from Truslee a cancellation 01 Nollce 01 Default II wilhln one monlh ollhe hling 01 <br />such Notice of Default pursuant 10 paragraph 1 5 above: (al we pay First Federal Lincoln all sums which would be then due under thisDeed 01 <br />Trust and the Agreement, If any. had no acceleration occurred; (b) we cure allol our breaches 01 anyothercovenanl5 or agreements contained <br />in this Deed of Trust;(c) we pay, as permitted by law, all reasonable expenses Incurred by First Federal Lincoln and Truslee in enforcing our <br />covenants and agreements contained In this Deed of Trust and in enforclnq First Foderal Lincoln's and Trustee's remedies as provided in <br />paragraph 15 of this Deed of Trust, including, bul nollimiled to. reasonable oltorney's fees; and (b) we take such action as Firsl Federal <br />Lincoln may reasonably require to assure that the lien of Ihe Deed at Trust. Flrsl Federal lincoln's inlerest in the Property and our oblIgations <br />to pay the sums secured by this Deed of Trusl shall conUnue ummparled. Upon such paymenl and cure by us, lhls Deed 01 Trust and the <br />obligations secured by this Deed of Trust shall remain in lull force and eflect os If no acceleration had occurred, <br />17. ASSIGNMENT OF RENTS: APPOINTMENT OF RECEIVER: FIRST FEDERAL LINCOLN IN POSSESSION. As additional security. we <br />hereby assign to First Federal Lincoln the renls of the Properly, provldod lhat prior 10 acceleration under paragraph 15 above or the <br />occurrence 01 an Event.of Default or abandonment olthe Properly, we shall havo Iho rlghl to collecl and retain such renls as they become due <br />and payable. fn any acllOn to Invoke the power 01 sale under this Deed 01 Trust, Flrsl Federalllncoln shall be entitled to the apPointment 01 a <br />receiver. <br />Upon acceleration under paragraph 15 above, or abandonmenl ollhe Property, Flrsl Federal lincoln, al any time and without nOlice, in <br />person, by agent or by judicially appointed receiver, and without regard to or p'oof 01 ellher(a) deprecialion of the value of the Property ar(b} <br />the Insolvency of any person who signs the Agreement or(c) the valueolthe Property or ldlthe adequacy 01 any securityforthe indebledness <br />secured by this Deed 01 Trust, shall be entitled to enler upon, lake possesSIOn 01. and manage Ihe Property, and in ils own name sue for or <br />collect the fents of the Property. including those past due. . <br />All rents collected by First Federal Lincoln or the receiver shall be applied !lrst to paymenl of Ihe costs of opera lion and management afthe <br />Property and collection of rents, im;:lur;llng, but not limiler;l to, receiver's lees. premiums on rec~iver's bonds and reasonable atlorney's fees. <br />and then to the sums secured by this Deed 01 Trust. First Federal Lincoln and Ihe receiver sholl be liable 10 accounl only lor Ihose rents <br />actually received. <br />Theenterin,g upon and taking possessionot the Property ':lnd Ihe collection and appllcallon olthe rents shall nol cure orwalve any Event of <br />Default or notlc~ of a violation under Ihls Deed of Trust or invalidate any act done pursuanlla sucl, nolice <br />We will not, wlthoutlhewrltlen consenl of First Federal Lincoln, reC'3lve or collect renl rrom any tenant 01 all. or any part 01. Ihe Properly tor <br />a period of more 1han one month in advance, and In the event of any default under Ihis Deed 01 Trust wilt pay monlhly in advance to Firsl <br />Federal Lincoln. or to any receiver appointed to collect said renls, Issues and prof Us, the fair and reasonable rental value for the use and <br />occupation of the Property or that part of the Property In our possession, and upon default in any such paymenl will vacale and surrender Ihe <br />possession 01 'he Property to Firsl ,Federal Lincoln or to such receiver. and may be evicted by sU'!lmary proceedings <br />1 B. TRUSTEE'S ACTION, At any time. without liability and Without notice, upon written request 01 Fust Federal lincoln and us, Truslee may <br />consent to the making of any map or plat 01 the Property. join In granting any easemenl on Ihe Properly. iOIn In any subordlnalton or other <br />agreement allectlng this Deed 01 Trust, or reconvey. withoul warranty, all or any pari of Ihe Properly <br />19. RECONVEYANCE. Upon payment of all sums secured by this Deed of Trust, the lulllllmenl 01 atl obligations under the Agreemenl .1n(J <br />termination at the Account, First Federalllncoln shall request Trustee to reconvey Ihe Properly and shall surrender this Deed 01 Trust and Ihe <br />Agreement to Trustee, Trustee shall cancellhe Agreement and reconvey Ihe Property Without warranty to thu person 01 pel sons legally <br />enhtled 1hereto. Such person ar persons shall pay all costs 01 recordation. If any, <br />20. SUBSTITUTE TRUStEE, First Federal Lincoln al Firsl Federal lincoln's or-lion. may !rom IlIne 10 lime remO\lF' 'J rustes and appoint a <br />successor Irustee to any Trustee appolnled under this Deed of Trust by an inslrument executed and acknowledy~ by FITst Fed~raj lmcoln <br />and recorded In the county where the Property Of soma part thereol, IS located In Ihe rnLlnnt~r presr.',I,f>d lly appl,c,lhl,' law ft". ,nSh\l1ll8nl <br />shallconlaln ournamesandlhe name of Fitst Fedoral lmcoln And Ihe ongmal Trustee, Ihe nook ann puye wtHHe mlS Dl!l~ll at T rust IS 1{~cOf(It'o <br />Bndlhe nBmoBndBddrossoltho 5ucceS50r1rustao Upon compl18nCOWllh applicable Iltw the SUC.CI!5SCl'l!uSIt't' ~;t1all '.\':!h'llll ',,\'''VI',.II1'. t~ ..! <br />the Property. succeed to all tho title. eslalo. powers and dullofl c;onlorred upon fhe r'u~tel' ,n Ill,S UI.'t'.1 01 T'w,t ;111,1 t", ,11'1"" .II'''' ~.l... T'II'. <br />DrOC~Ufllttor&ub$tltullonotlru$1ee uDon Compllonce with BpphcabJo 10..... shnlluo....!rn 10 tt'm "'c"US"J" "I f\II,'lh", l"'\\"'o""". I,,, " 1",\,'"I','n <br />21 REOuEST FOR NOTICES FHst FederAl Lincoln roqueslslhDI COPlIlo; 01 nor,r"... ot (,."aull ,111,1 ....IIt' II"'" 11", "(lIth" ,,' ,'I, ," ,\' , t. ".I' <br />pOQfII'l' over Ihls Deed of TrUli1 bo $Imllo Fnsl Fodarall1Otuln 111 PO Bo. nO'! t (Jmiltlot .....f hIt 1 (lb <br />