|
<br />I
<br />00
<br />00
<br />
<br />6 ImI","' Damatn, lr!'ndOI II heJotly o"lQned nil componllhon, awards. dnmllQolo nnd 01110' pllymonla or rollOl (hlllCtlnnllor '.Procllodl"l In connoCIlOn with
<br />COndltmnlllOn 0' olh"r likIng 01 nUl Pruperty 01 PIli' 1horllol. or lorCOnVIl'l'lInCO In lIou 01 condomnallOn Londor"Utll b,. ontlllod allla opllOn 10 commoncu. uppeD' In IInd
<br />prOSBcuta In ,IS own name IOy IcilOO Of proceedlngl, and DhllllllllO ba IInhtted to mako /Iny compromllo or aellleo.onlln connocUon with aUCt11l1king 01 damage. In Ihlt
<br />eVilnl.ny porllon or Ihe Properly II 10 laken or damaged, Leoda, Ihall tlavIII tho opllon, In 11111010 ..nd Ilbsolule diSCloUon, to apply olllluch Proceeds, after doducUng
<br />'her.l~m allea.t..nd e_pen.II' incurred by It In connecUon wlltlluch proceeds, upon In'll Indeblednellllllcured hereby and In such order 01 Lender mav determine, or to
<br />apply all luch Proceed.. aUer such deducUonl. to the restoration 0' the Property upon such conditions al Lender may delermlne. Any application 01 Proceeds to
<br />mdetltednalllh,,1I not extend or postpone the due dlto 01 any payments under Ihe Note. or cure any deraull thereunder or hereunder
<br />
<br />1. hrtonnlnnbyL,ndtr,ln lhoevcn1al BorrQwer',f.lluretoperfprm any 01 thecovenentl herem or makesny paymenls required hereby, or II any actistakenor
<br />legatprocndlngcommen,ed Whl,h maleriaUy atleetl Londer'. mterest In the P'oPA'lV. Lllnde, m8Y In lis own dlleraUon. bUI WIU10ut obligation to ao 10. ana wltnout noUCll
<br />loorder"lnd upon Borrower Ind wllhout releasing Borrower 'rom any obUgallon. do Bny act which the Borrower ha!lagreed but 'alia to do and may alia do any olher act II
<br />dNmsnecess.ryto protect the lecurltv hereol Dorrower Ihall.lmmedlalllly upon demand therefor by Lender, pay 10 Lender all cosls and expenses Incurred and sums
<br />expended by Linder Inconnecllonwilh the elercile by lenderolthe loregolng rIghts. logelher wilh interest thereon at the rate provided In the Note, which lIhall be added to
<br />the Indebledness iec:urod hereby. Lender shall not Incur any perlonal liability becaule of anything It may do or oml110 do hereunder.
<br />
<br />B Enntl Dr Get.utl, The lollowlng Ihall conslilute an event 01 delllull under Ihls Oeed 01 Trust:
<br />
<br />(al Failure 10 pay any inslallment 01 principal or Inlorest or any other sum secured hereby when due, or lallure to pay when due any other indeblednessol
<br />Borrower to Lender:
<br />
<br />(b) A breach 01 or delaull under any proviSion contained In the Nole. this Oeed 01 Trusl, any document which secures the Nole. and any other
<br />encumbrance upon the Property:
<br />
<br />leI A Wflt 01 execulion or attachment or any SImilar process shall be entered against80rrower which shall become a lien on Ihe Property or any portion
<br />thereo' or inlel1!lst therein;
<br />
<br />ldl There shall be IlIed by or agalnsl Borrower an action under any presenl or 'uture lederal. slale or olher statute. law or regulaUon relating to
<br />bankruplcy. Insolvencyor other reI lei fordeblors; or there IIhall be appolOled any Irustee, receiver or Iiquidalor of Borrower or 0' aU or any pari of the Property. or
<br />Ihe renls. Issues or profits lhereol, or Borrower shall mal:e any general assignment for the benefll of creditors
<br />
<br />lei The sale, transfer, assignment. conveyance or lurther encumbrance 01 all or any pari of or any Interest In "the Property. either volunlarily or
<br />Involunlaflly. Without Ihe express wrltlen consent of Lender
<br />
<br />CIl If 8':lrrower Is not an indh,ldual,the ~le, lranster, as:llgnmenl. conveyance or encumbrance of more Ihan _ percent of (If a corporallonllts
<br />
<br />Issued and outstanding stock or III a partnership) _ percenl 01 partnershIp mleresls
<br />
<br />9 R.medl.s; AcQItI....ton Upon O.'aull.ln Ihe event 01 any Evenl 01 Oefault Lender may declare alllndebledness secured hereby 10 be due and payable and the
<br />same shalllhel1!lupon become due and payable wHhoul any presanlmenl. demand, protest or noU,e 01 any kind. Thereafter Lander may:
<br />
<br />(al Demand Ihat Trustee exefclse the POWER OF 3ALE granled herem. and Truslea shalllharealler cause Borrower's Inlerestln the Property 10 be sold
<br />and Ihe proceeds to be dlstrlbuled. all In Ihe mannar provided 10 the Nabraska Trusl Doeds Acl;
<br />
<br />Ib) Either in person or by agenl, with or wllhout brlngmg any aclion or procaedmg, 01 by a receiver appomled by a court and without regard to the
<br />adequacy of Its security. enler upon and take possesSIon olthe Property. or any part thereal. In lis own name or In Ihe nama of the Truslae. and do any acts which
<br />n deeml necessary or desirable to pre!lerve Ihe value. markelabilily or rentablhly 01 the Property. or part Ihereol or inleresltherein, increase the income
<br />therefrom or prolect the security hereol and, with or wilhout taking possasslon 01 the Proparly, sue 10f or olherwlsecollecl tha rents, lssuas and profits thereof.
<br />Including lhose past due and unpaid, and apply the same. less costs and elCpansas 01 opomtlon and collecllon Including allornays' faes. upon any Indebledness
<br />secured hereby, all in such order as Lendar may delermlna. The anlarlOg upon and taking posllasslon olthe Properly. tha colleclion 0' such rents, issues and
<br />prohls and the application thereof as a'oreseld. shall not cure or waive any dafeull or noUce of del au II hereundar or Invalidate any act done In response to su,h
<br />defaull or pUrsuant to su,h nolice 0' defaulland. notwithstanding Ihe conlinuanca In po'Ssp.sslon ollhe Property or the collaclion. racelpt and application 01
<br />rents, issues or profits, Trustee or LendershaU beenlil!ed to elCerclsaevery righl prOVided lor In any 01 tha Loan Instruments orby law upon occurence of any
<br />event 01 de'ault, including the right to elterclse the power 01 sale: and
<br />
<br />lc) Commence an action to loreclose this Oeed 01 Trust as a mortgagE'. appoml a.recelver. or spacllically enlorce any 01 the covenants hereof;
<br />
<br />No remedy herein eonforred upon or resarved to Trustee or Lender IS Intended 10 be exclUSIVe of any otner remedy herem or by law provided or per milled, but each shall be
<br />cumulative, shall be In addillon 10 every olher remedy gIven hereunder or now or herealter eXllIting allaw or In eqully or by statute, and may beellercised eon,urrenlly,
<br />Independently or successively.
<br />
<br />10. Trul'... The Truslee may resign at any time wllhout causa. and Lendor may al any lime and Wllhout causeappoml a successor or substitule Truslee. Trustee
<br />shall nol be liable for any lOSS or dllmage unlen due 10 actionable neglioence or willlul misconduct. and shall not be requirad to lake any achon in connection with the
<br />enforcement of this Deed 01 Trusl unless Indamnlfled. in writing, for all cosls. compensation or eMpensas which may be aSSOCiated tharewith. In addJlion. Trustee may
<br />become l!lI purchaserat any saleof Ihe Properly lIudlclal or under Ihe power 01 sala granted herein I: poslpone the sale 01 all or any portion oltha property. as provided by law;
<br />or sell the Property as a whole, or In separate parcels or lols
<br />
<br />11. Fulu,.Advancea. Upon requast 01 Borrower. Lender may. ellls optIOn. make additIonal and lutureadvances and readvanees 10 Borrower. Such advances and
<br />readyances. with Inlerestlhereon. shall bel&Cured by Ihls Deed 01 Trusl At no time shall tha principal amounl of Ihe mdebtedness secured by Ihis Deed 01 Trust, notln~
<br />
<br />eluding sumladvanced to prolect the securily of this Deed of Trust. olCceed Iha orl~mal prinCIpal amounlslaled herem. or 5 . whIchever Is
<br />greater.
<br />
<br />12. Ulscallanaoul Pro!flslonl.
<br />
<br />(a) Borrower Not Raltl..ed. ElClenSlon 01 the lime lor payment or modification 01 amorllzatlon 01 the sums secured by this Deed of Trusl granted by
<br />Lender 10 any successor In inlerest 0' Borrower shall nol operate 10 felaasa. 10 any manner. Ihe liability of Ihe original Borrower and Borrower's successors in
<br />Inlerest. Lender Iha1l not be requirad 10 commence proceedings agamsl such succassor or refuse 10 extend Ume lor paymanl orolherwise modily amortlzaUon
<br />of 1he sums secured by this Deed 01 Trusl by raason 01 any demands made by the origlOll1 Borrower and Borrower's successors In Inleresl.
<br />
<br />(bl L.ndllr'IPowa,... Withoulallecling Ihe Itabllilyal anyolher p~rson liable lor Ihe payment 01 any obligation herelnmanlionad. andwilhout allectlng
<br />1he flen orcharga of this Deed 01 Trullt upon any panlon 01 the Property not then or tharatolore released as sacurily lor Ihe lull amount 01 all unpaid Obligations,
<br />Lender may, from time 10 tIme and wllhoul nolice (il releese any person so liable. Ill) elClend the matunly or aller any ollhe lerms of any such obligations, (i111
<br />grant other indulgences. (Iv) release or reconvey. or cause 10 be released or reconvayed at any lime al Lender's oplions any parcel. porUon or all ollhe Property.
<br />(vi lake or release any other or additional sacurlly for any obligallon herein menhoned. or (VI) make composillons or olner arrangements with deblorsin relation
<br />Ihereto.
<br />
<br />Icl ForiMllrllnc.by L.ndllrNot II W.I..r. Any forbearance by Lender 10 elCercising any tighl or remedy heraunder. or otherwlseallorded by appllcabla
<br />law, Shall not be a waiver 0' or preclude Ihe exercIse 01 any such right or remedy. The procuremenl ollOsurance or the paymant 0' taxes or other liens or charge~
<br />by Lender Ihall not be a waiver of Lender's right 10 accelerate the maturity ollhe Indel?ledness secured by this Deed 01 Trust.
<br />
<br />(dl SUGClllOrland Allflnl Bound; "oint and Senrll Uablllty; CapUon.. The covenantll and agreements herem contained shall bind. nnd Ihe righl!.
<br />heraunder shall Inure to, the respective successors and anlgns of Lendar and Borrower. subject 10 Iha prOVisions 01 paragraph (l [e) hereof. All covenants and
<br />agreemenls of Borrower shall be joint and several. The capllons and headings of the paragraphs 01 Ihls Deed 01 Trust Bre lor convenience only and are not to be
<br />uaed to Interpret or deUne tha provisions hemal.
<br />
<br />Ie) Rltqu..uorNoUcl., The parlias toereby request that a copy 01 any nolice 01 delault hereunder and a copy of any noliceol sale hereunder be mailed to
<br />each party to this Deed of Trusl at the address 581 forth above in the manner prescnbed by applicable taw, Except for Bny other notice reqUired under applicable
<br />law to be given In another manner, any noUce provided 'or in this Deed 01 Trust shall be given by mailing such notice by carllliad mail addressed to the other
<br />parties, at the address set lorth above.
<br />
<br />Any nolice provided lor in Ihls Deed 01 Trust shall be deemed to have baen givan to Borrower or Lender when givan in Ihe manner designated herein.
<br />
<br />(II InlpecUon. Lender may make orcause to be made reasonable entries upon and Inspections 01 the Property, provided Ihal Lendershall give Borrower
<br />nollce prior to any such inspectIon specllylng reasonable cause therelor related 10 Lender's InteresllO the Propertv.
<br />
<br />(91 RKOnY.Janc.. Upon payment of aU sums secured by this Deed 01 Trust, Lender shall request Trustee to reconvey Ihe Property and shall surrender
<br />this Oeed of Trust and all notes evidencing Indebtadnesssecured by Ihls Deed 01 Trustlo Trustae Trustee shall reconvey the Property without warranty end
<br />without charge to the person or persons legally entitled Iherelo. Such person or perllons shall pay all costs 01 recordation, If any
<br />
<br />(h) PerHnal Property.SecurftJ AgrHlMfllAs addlllonal securily lor the paymant ollhe Nole alllllCtures. equlpmenl. and olher personal properly used
<br />10 connecllon with the real eslateor Improvements localed thereon. and nol otherwise daclered or deemed 10 be II part 01 the real estale socured hereby. shall be
<br />subject to II security Interest In favor 0' the Lender und..r the Nebraska Uniform Commercial Code This IOlIlrum.,nt shall be construed as a Security Agreement
<br />under said Code, and the Lender shall have alllhe rights and remedies 01 a se,ured party under said Code In addilion 10 Ihe rlghlll and remedies crealed under
<br />and accorded the Lender purtuant to this Dead 01 TrUll.
<br />
<br />(il ~.ln Ihe evenl that any provilion 01 thisDeedofTrustconfllct with applicable law or are declared Invalid or olherwiseunenlorceable, such
<br />conflict or Invalidl1y shall nol attecttheothar prOVisions 01 this Deed of Trust or the Note which can be gillen eltect wllhoullha con!licllng provisIon, and to this
<br />end the provlllon, of Ihe Deed of Trust and the Nole are declared to be severable.
<br />
<br />Borrower hu eAGCuted Ihls Deed 01 Trust the date written above
<br />
<br />
<br />co
<br />00
<br />C\l
<br />CO
<br />o
<br />.....
<br />
<br />1
<br />1
<br />i
<br />
<br />J' ck Stratton Borrower
<br />" ~,.".. F"t;;;:
<br />Shirley ~ton Borrower
<br />
<br />. .
<br />
|