200709259 - Laserfiche WebLink

Browse

200709259 0110273429 " (iii) deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause Trustor's interest in the Trust Estate to bc sold, which notice Trustee shall cause to be duly filed for record in the appropriate offices of the County in which the Trust Estate is located; or (iv) exercise such other tights or remedies at law or in equity. II. Foreclosure by Power of Sale. If Beneficiary elects to foreclose by exercisc of the Power of Sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee this Second Deed of Trust and any note evidencing the Indebtedness and such receipts and evidence of expenditures made and secured hereby as Trustee may require. (a) Upon reccipt of such notice from Beneficiary, Trustee shall cause to be recorded, published and delivered to Trustor such Notice of Default and Notice of Sale as then required by law and by this Second Deed of Trust. Trustee shall, without demand on Trustor, after such time as may then be required by law and after recordation of such Notice of Default and after Notice of Sale having been given as required by law, sell the Trust Estate at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient dccd or dccds conveying the property so sold, but without any covcnant or warranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee or Beneficiary, may purchase at such sale. (b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, including costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of (i) the Indebtedness (ii) all other sums then secured hereby, and (iii) the remainder, if any, to the person or persons legally entitled thereto. (c) Trust Estate. Trustee may in the manner provided by law postpone sale of all or any portion of the 12. Remedies Not Exclusive. Trustee and Beneficiary, and each of them, shall be entitled to enforcc payment and performance of any indebtedness or obligations secured hereby and to exercise all rights and powers under this Second Deed of Trust or under any Loan Instrument or other agreement or any laws now or hereafter in force; notwithstanding, some or all of the such indebtedness and obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Second Deed of Trust nor its enforcement, whether by court action or pursuant to the power of sale or othcr powcrs herein contained, shall prejudice or in any manner affect Trustee's or Beneficiary's right to realize upon or enforce any other sccurity now or hereafter held by Trustcc or Bencficiary, it being agreed that Trustee and Beneficiary, and each of them, shall be entitled to enforce this Second Deed of Trust and any other security now or hercafter held by Beneficiary or Trustee in sueh order and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. Every power or remedy given by any of the Loan Instruments to Trustee or Beneficiary or to which either of them may be otherwise entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Beneficiary and either of them may pursue inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a deficiency judgment against the Trustor to the extent such action is permitted by law. 13. Request For Notice. Trustor and all other parties set forth herein hereby requests a copy of any Noticc of Default and a copy of any Notice of Sale hereunder be mailed to them at the address set forth in the first paragraph of this Second Deed of Trust. 14. Governing Law. This Second Deed of Trust shall be governed by and construed in accordance with the laws of the State of Nebraska. In the event that any provision or clause of any of the Loan Instruments conflicts with applicable laws, such conflict shall not affect other provisions of such Loan Instruments which can be given effect without the conflicting provision, and to this end the provisions of the Loan Instruments are declared to be NIFAFORMH.doc SLY t'JW\t 16-34 NIFA MRB/Form H (10/06) 4827-8093-9776.8