Laserfiche WebLink
<br />DEED OF TRUST <br />(Continued) <br /> <br />200801728 <br /> <br />Page 5 <br /> <br />the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's <br />sole opinion, to accomplish the matters referrad to in tha pracading paragraph. <br /> <br />FULL PERFORMANCE. If Borrower and Trustor pay all tha Indabtadness when due, terminates the credit lina account, and Trustor <br />otherwise performs all the obligations imposad upon Trustor under this Deed of Trust, Lender shall execute and delivar to Trustee a request <br />for full raconvayance and shall execute and deliver to Trustor suitable statamants of termination of any financing statement on file <br />evidencing Lendar's sacurity interest in the Rents and the Personal Proparty. Any raconveyance fee required by law shall be paid by <br />Trustor, if permitted by applicable law, <br /> <br />EVENTS OF DEFAULT. Trustor will be in dafault undar this Deed of Trust if any of the following happen: (A) Trustor commits fraud or <br />makes a material misrepresentation at any time in connection with the Credit Agreement. This can include, for example, a false statement <br />about Borrower's or Trustor's income, assets, liabilities, or any other aspects of Borrower's or Trustor's financial condition. (B) Borrower <br />does not maat the repayment terms of the Credit Agreement. (C) Trustor's action or inaction adversely affects the collateral or Lendar's <br />rights in the collateral. This can include, for example, failure to maintain required insurance, waste or destructive use of tha dwelling, <br />failure to pay taxes, death of all persons liable on tha account, transfer of title or sale of the dwelling, craation of a sanior lien on the <br />dwelling without lender's permission, foreclosure by the holder of another lien, or the usa of funds or the dwelling for prohibited purposes. <br /> <br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or lender <br />may exercise anyone or more of the following rights and remedies: <br /> <br />Acceleration Upon Default: Additional Remedies. If any Event of Default occurs as per the terms of the Credit Agreement <br />secured hereby, lender may daclare all Indabtedness secured by this Deed of Trust to be due and payable and the same shall <br />thereupon become due and payable without any presentment, demand, protest or notice of any kind. Theraafter, Lender may: <br /> <br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and <br />without regard to the adequacy of its security, enter upon and take possession of tha Property, or any part thereof, in its <br />own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value, <br />marketability or rentability of the Property, or part of the Proparty or interest in the Property; increase the income from the <br />Property or protect the security of the Property; and, with or without taking possession of the Property, sue for or otherwise <br />collect the rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less costs and <br />expanses of operation and collection attorneys' fees, to any indebtedness secured by this Deed of Trust, all in such order as <br />Lender may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and <br />profits, and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust or <br />invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding tha <br />continuance in possession of the Property or the collection, recaipt and application of rents, issues or profits, Trustae or <br />lender shall be entitled to exercise every right provided for in the Credit Agreement or the Related Documents or by law <br />upon tha occurrence of any event of default, including the right to exarcise the power of sale; <br /> <br />(b) Commence an action to foreclose this Dead of Trust as a mortgage, appoint a receiver or specifically enforce any of the <br />covenants hereof; and <br /> <br />(c) Deliver to Trustee a written declaration of default and demand for sale and a written notica of default and election to <br />cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the <br />appropriate offices of tha County in which the Property is located; and <br /> <br />(d) With respect to all or any part of the Personal Proparty, Lender shall have all the rights and remedies of a secured party <br />under the Nebraska Uniform Commercial Code. <br /> <br />Foreclosure by Power of Sale. If lender elects to foreclose by axercise of the Power of Sale herein contained, lender shall notify <br />Trustee and shall deposit with Trustee this Deed of Trust and the Credit Agreement and such receipts and evidence of <br />expenditures mada and secured by this Deed of Trust as Trustee may require, <br /> <br />(a) Upon receipt of such notice from lender, Trustee shall cause to be recorded, published and delivered to Trustor such <br />Notice of Default and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall, without demand on <br />Trustor, after such time as may then be required by law and after recordation of such Notice of Default and after Notice of <br />Sale having been given as required by law, sail the Property at the time and place of sale fixed by it in such Notica of Sale, <br />either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may <br />determine, at public auction to the highest bidder for cash in lawful monay of the United States payable at the time of sale. <br />Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds conveying the proparty 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, faes and expenses of Trustee and of this Trust, including costs of <br />evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of (j) all sums expended under <br />the terms of this Deed of Trust or under the terms of the Credit Agreement not then repaid, including but not limited to <br />accrued interest and late charges, (ii) all other sums then secured hereby, and (iii) the remainder, if any, to the person or <br />persons legally entitled thereto. <br /> <br />(c) Trustee may in the manner provided by law postpona sale of all or any portion of the Property. <br /> <br />Remedies Not Exclusive. Trustee and lender, and each of them, shall be entitled to enforce payment and performance of any <br />indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powars under this Deed of Trust, under the <br />Credit Agreement, under any of the Related Documents, or under any other agreement or any laws now or hereafter in force; <br />notwithstanding, some or all of such indebtedness and obligations secured by this Deed of Trust may now or hereafter be otherwise <br />secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Naither the acceptance of this Deed of Trust nor <br />its enforcement, whether by court action or pursuant to the power of sale or other powers contained in this Deed of Trust, shall <br />