|
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200705574
<br />
<br />Page 4
<br />
<br />Dacuments, and (2) the liens and security interests created by this Deed af Trust as first and priar liens an the Property, whether
<br />naw awned ar hereafter acquired by Trustar. Unless prohibited by law ar Lender agrees to. the cantrary in writing, Trustar shall
<br />reimburse Lender far all casts and expenses incurrad in cannectian with the matters referred to. in this paragraph.
<br />
<br />Attarney-in-Fact. If Trustar fails to. do. any af the things referred to. in the preceding paragraph, Lender may do. sa far and in the name
<br />af Trustar and at Trustar's expense. For such purpases, Trustor hereby irrevacably appaints Lender as Trustar's attarney-in-fact far
<br />the purpase af making, executing, delivering, filing, recording, and daing all ather things as may be necessary ar desirable, in Lender's
<br />sale apinian, to. accamplish the matters referred to. in the preceding paragraph.
<br />
<br />FULL PERFORMANCE. If Trustar pays all the Indebtedness, including withaut limitatian all future advances, when due, and atherwise
<br />perfarms all the abligatians impased upan Trustor under this Deed af Trust, Lender shall execute and deliver to. Trustee a request far full
<br />recanveyance and shall execute and deliver to. Trustor suitable statements af terminatian af any financing statement an file evidencing
<br />Lender's security interest in the Rents and the Persanal Praperty. Any recanveyance fee required by law shall be paid by Trustar, if
<br />permitted by applicable law.
<br />
<br />DEFAULT. Default will accur if payment in full is nat made immediately when due.
<br />
<br />RIGHTS AND REMEDIES ON DEFAULT. If Default accurs under this Deed af Trust, at any time thereafter, Trustee or Lender may exercise
<br />any ane ar mare af the fallawing rights and remedies:
<br />
<br />Acceleratian Upan Default; Additianal Remedies. If Default accurs as per the terms af the Nate secured hereby, Lender may
<br />declare all Indebtedness secured by this Deed af Trust to. be due and payable and the same shall thereupan became due and
<br />payable withaut any presentment, demand, pratest ar natice af any kind. Thereafter, Lender may:
<br />
<br />(a) Either in persan ar by agent, with ar withaut bringing any actian ar proceeding, ar by a receiver appainted by a caurt and
<br />withaut regard to. the adequacy af its security, enter upan and take passessian af the Property, or any part thereaf, in its
<br />awn name ar in the name af Trustee, and do. any acts which it deems necessary ar desirable to. preserve the value,
<br />marketability or rentability af the Property, ar part af the Property ar interest in the Praperty; increase the incame fram the
<br />Property ar protect the security af the Property; and, with ar withaut taking passessian af the Property, sue far ar atherwise
<br />callect the rents, issues and prafits af the Praperty, including thase past due and unpaid, and apply the same, less casts and
<br />expenses af aperatian and callectian attorneys' fees, to. any indebtedness secured by this Deed af Trust, all in such order as
<br />Lender may determine. The entering upan and taking passessian af the Praperty, the callectian af such rents, issues and
<br />prafits, and the applicatian thereaf shall nat cure ar waive any default ar natice af default under this Deed af Trust ar
<br />invalidate any act dane in respanse to. such default ar pursuant to. such natice af default; and, notwithstanding the
<br />cantinuance in passessian af the Property or the callectian, receipt and applicatian af rents, issues or profits, Trustee ar
<br />Lender shall be entitled to exercise every right provided for in the Note ar the Related Dacuments ar by law upan the
<br />accurrence of any event of default, including the right to. exercise the power af sale;
<br />
<br />(b) Cammence an actian to. fareclase thIS Deed of Trust as a martgage, appoint a receiver ar specifically enfarce any af the
<br />cavenants hereaf; and
<br />
<br />(c) Deliver to. Trustee a written declaratian af default and demand for sale and a written natice af default and electian to.
<br />cause Trustar's interest in the Property to. be said, which natice Trustee shall cause to. be duly filed for recard in the
<br />appropriate affices af the Caunty in which the Property is lacated; and
<br />
<br />(d) With respect to all or any part of the Persanal Praperty, Lender shall have all the rights and remedies of a secured party
<br />under the Nebraska Unifarm CammercialCade.
<br />
<br />Fareclasure by Pawer af Sale. If Lender elects to fareclase by exercise af the Pawer af Sale herein cantained, Lender shall notify
<br />Trustee and shall depasit with Trustee this Deed of Trust and the Nate and such receipts and evidence of expenditures made and
<br />secured by this Deed of Trust as Trustee may require.
<br />
<br />(a) Upon receipt of such notice from Llmder, Trustee shall cause to be recorded, published and delivered to Trustar such
<br />Notice of Default and Notice of Sale as -chen required by law and by this Deed of Trust. Trustee shall, without demand on
<br />Trustar, after such time as may then be required by law and after recordation of such Notice of Default and after Natice af
<br />Sale having been given as required by IaN, sell the Property at the time and place of sale fixed by it in such Natice of Sale,
<br />either as a whole, ar in separate lots o.r parcels or items as Trustee shall deem expedient, and in such order as it may
<br />determine, at public auctian to the highest bidder for cash in lawful money of the United States payable at the time af sale.
<br />Trustee shall deliver to. such purchaser or purchasers thereof its good and sufficient deed or deeds conveying the property so
<br />sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br />purchase at such sale.
<br />
<br />(b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, including costs of
<br />evidence of title in connection with sale, Trustee shall apply the praceeds af sale to. payment of (i) all sums expended under
<br />the terms af this Deed of Trust or under the terms af the Nate nat then repaid, including but nat limited to. accrued interest
<br />and late charges, (ii) all ather sums then secured hereby, and (iii) the remainder, if any, to. the person ar persans legally
<br />entitled thereto.
<br />
<br />(c) Trustee may in the manner pravided :"JY law pastpane sale of all ar any partian af the Praperty.
<br />
<br />Remedies Nat Exclusive. Trustee and Lender, and each af them, shall be entitled to enforce payment and performance af any
<br />indebtedness ar abligatians secured by this Deed af Trust and to exercise all rights and powers under this Deed af Trust, under the
<br />Nate, under any of the Related Dacuments, ar under any ather agreement ar any laws naw ar hereafter in farce; natwithstanding,
<br />same or all of such indebtedness and abligatians secured by this Deed af Trust may now ar hereafter be otherwise secured, whether
<br />by mortgage, deed of trust, pledge, lien, assignment ar atherwise. Neither the acceptance af this Deed of Trust nor its enfarcement,
<br />whether by caurt actian ar pursuant to. the pawel' af sale ar other powers cantained in this Deed af Trust, shall prejudice ar in any
<br />manner affect Trustee's or Lender's right to realize upan or enfarce any other security now or hereafter held by Trustee or Lender, it
<br />being agreed that Trustee and Lender, and each of them, shall be entitled to. enfarce this Deed af Trust and any other security naw or
<br />hereafter held by Lender ar Trustee in such order and manner as they or either of them may in their absolute discretion determine. No
<br />remedy canferred upan ar reserved to Trustee or Lender, is intended to. be exclusive af any other remedy in this Deed of Trust or by
<br />law provided or permitted, but each shall be cumulative and shall be in additian to every ather remedy given in this Deed af Trust or
<br />naw ar hereafter existing at law ar in equity ar by statute. Every power or remedy given by the Note or any of the Related Documents
<br />to. Trustee ar Lender ar to. which either of them may be otherwise entitled, may be exercised, concurrently or independently, from time
<br />to time and as often as may be deemed expedient by Trustee ar Lender, and either af them may pursue incansistent remedies.
<br />Nothing in this Deed of Trust shall be construed as prohibiting Lender fram seeking a deficiency judgment against the Trustor to the
<br />extent such action is permitted by law. Electian by Lender to. pursue any remedy shall not exclude pursuit af any ather remedy, and
<br />an electian to. make expenditures ar to take actian to perform an obligation of Trustor under this Deed of Trust, after Trustor's failure
<br />to perform, shall not affect Lender's right to declare a default and exercise its remedies.
<br />
<br />Request far Notice. Trustor, on behalf of Trustor and Lender, hereby requests that a capy of any Notice of Default and a copy af any
<br />Notice of Sale under this Deed af Trust be mailed to them at the addresses set forth in the first paragraph of this Deed af Trust.
<br />
<br />Attorneys' Fees; Expenses. If Lender institutes any suit ar actian to. enfarce any af the terms af this Deed af Trust, Lender shall be
<br />entitled to. recaver such sum as the court may adjudge reasonable as attarneys' fees at trial and upan any appeal. Whether or not any
<br />court action is involved, and to the extent not prohibited by law, all reasanable expenses Lender incurs that in Lender's apinian are
<br />necessary at any time for the pratectian af its interest ar the enfarcement of its rights shall became a part af the Indebtedness payable
<br />an demand and shall bear interest at the Note rate fram the date af the expenditure until repaid. Expenses cavered by this paragraph
<br />include, withaut Iimitatian, hawever subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses,
<br />whether or not there is a lawsuit, including attarneys' fees and expenses for bankruptcy proceedings (including efforts to madify ar
<br />vacate any automatic stay ar injunctian), appeals, and any anticipated post-judgment collection services, the cost af searching
<br />records, abtaining title reparts (including fareclosure reports), surveyors' reports, and appraisal fees, title insurance, and fees for the
<br />Trustee, to. the extent permitted by applicable law. Trustor also will pay any caurt casts, in addition to all other sums pravided by
<br />
|