|
l
<br />g�... 144TA,
<br />a EMIMM Detssin. Lender is hereby assigned all compensation, awards. damages and other payments or relief thereinafter " Procsadtl') in connection with
<br />condamnshem or other taking of the Property or part thereof, or for conveyance in lieu of condemnation. Lender shall be entitled at its option to commence, appear in and
<br />promcuN in its own name shy action or proceedings, and shall also be tantitled to make any compromise or settlement in connection with such taking or damage 1111118
<br />event any petition of the Property is to taken of damaged, Leader shall have ins option, in Its sole and absolute discretion, to apply all such Proceeds. after deducting
<br />th"nom Acosta and ex incurred by it mconnection with, such proceeds, upon any indebtedness secured herabyand in such order as lender maydearmfne,olo
<br />apply all such Proceeds, after such, deductions, to the restoration of it" Propill upon such conditions as Lender may determine. Any application of Proceeds to
<br />shNI not extend or postpone The due data of any payments under the Note, or cure any default thereunder or hereunder.
<br />7. P 4100 me by Lender. In the event of Borrower a failure to Worm any of tha covertents herein or make any payments required hereby, or any act is taken Of
<br />legal pr ewmmeneedwhmh maahnstlyalfects Lender's interest in cise Properly. Lender may in its own discretion. but without obligation to do so. and without notice
<br />tow demand upon Borrower and without releasing Borrower from any obligation, do any act which the Borrower has agreed but fails to do and may also do any otheract it
<br />doom neciamary to protect the security hereof. Borrower shah. immediately upon demand therefor by lender. pay to Lender all costs and expenses incurred and sums
<br />expanded by Letdtrm connection wimmeexercise by Lerharof the foreg" rights. together with interest thereon at the rate provided in the Now, which shall be addedt0
<br />the indebtedness secured harstry. Lender shall not incur any personal hablhty because of anything it may do or omit to 00 hereunder.
<br />8. Eve st of DeMM. The following snail constitute an event of default under this Deed of Trust.
<br />(a) Failure to pay any installment of principal of Interest or any other sum secured hereby when due, or failure to pay when due any other indebtedness of
<br />Borrower to Lanier:
<br />(b) A breach of or default under any provision contained in the Note, this peed of Trust, any document which secures the Note, and any other
<br />enuumbrance upon the Property:
<br />(c) A writ of execution or attachment or any similar process shah be entered against Borrower which shall become alien on the Property or any portion
<br />tmeretal or Interest thereto:
<br />(a) Thee shall be tiled by of &"test Borrower an action under any present or future federal. slate or other statute, law or ragufahon relating to
<br />bankruptcy, inaolvercy oromer relief for debtors: or there shall be appointed any trustee. receiver or liquidator of Borrower or of all or any part of the Property, or
<br />Tiro rents, issues or profits thereof, or Borrower shall make any general assignment for the benefit of creditors.
<br />(e) The sale, transfer, assignment. conveyance or further encumbrance of aft or any part of or any interest in the Property, either voluntarily or
<br />imotumafity, without the express written consent of Lender
<br />((1 If Borrower is not an individual, the sate, transfer assignment. conveyance or encumbrance of more than _____ - -_ percent of (if a corporation) its
<br />issued and outstanding stock or id a partnership) _._..__ __ percent of partnership Interests
<br />9. MareMek AeglagNOR (%Ppl Defaa t. in the event of any Event of Default Lender may declare all Indebtedness secured hereby to be due and payable and the
<br />same shall thereupon become due and payable without any presentment demand. Pretrial or notice of any kind Thereafter Lender may
<br />IA) Demand that Trustee exercise the POWER OF SALE granted herein. and Trustee shall thereafter cause Borrower's interest in the Property to be sold
<br />and the proceeds to be distributed. all in the manner provided In the Nebraska Trust Deeds Act,
<br />(b) Either In person or by agent with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the
<br />adequacy of its security, enter upon find take possession of the Property . or any part thereof. in Its own name or in The name of the Trustee, and do any acts which
<br />it deems necessary or desirable to preserve the value, marketability or rentability of the Property . or part thereof or interest therein. increase the Income
<br />therefrom of protect the seCunty hatect and, wsth or without taking possession of the Property. sue for or otherwise collect the rents, issues and profits ihereol,
<br />mclu" those pest due and unpaid. and apply the same. hiss costs and expenses of operation and collection including altorneya' fees. upon any indebtedness
<br />secured heratsy. all in such order as Lender may determine The entering upon antl taking possession of the Property, the collection of such rents, issues and
<br />pfoiits and The application lbereot as afolessid, shall nor cure of waive any default or notice of default hereunder or invalidate any act done In response to such
<br />default or, pursuant to Such notice of default and notwithstanding the continuance in posseasi on of the Property or the collection. receipt and application of
<br />rents, issuers of profits, Trustee Or Lender shelf be entitled to exerClae every right provided Turin any of the Loan Instruments or by law upon occurence of any
<br />event of re4aun, mctudtrig the right to exercise the power of sale, and
<br />ic; Commence an action to finagles this Dead of Trust as a mortgage appoint a receiver . or specdlcaily anlorce any of the CoWenani5 hereof.
<br />rye remedy heteen conferred upon or reserved to Trustee or Lender is mlecded TO be exc i usrve of any other remedy herein Jr by law provided or permitted, but each shall be
<br />Cumuffet". strati be in add,ndn to every tithe+ remedy given hereunder or now or hereafter er,shng al law of In equity or by slatule . and may he exercised concurrently.
<br />Or bNCCSee„My
<br />to TresNe. The Trustee may resign at any time wdhuul cause and Lender may at any time and wdnout cause appu:nt a successor or substitute Trustee. Trustee
<br />sham not be hable to any teas 0, damage unless due to acbcnabh, oaghgance or wielui misconduct . and shall not he required to take any action in connection with the
<br />off argestanl 01 fers. Deed of Trust unless ,ndembdted. in writing, for ail Costs, compensation or expellees which may he associated therewith In addition. Trustee may
<br />betolrsa a pWCtrovral any Lab of the Property (rud,Cial Or under the power or saes granted harem I. postpone the sale of allot any portion of the property. as provided bylaw.
<br />of 8411 Rio Property as a whole, of in separate parcels Or fors
<br />1 t. PWWNI ' Upon utiquaat of Borrower i. lthde, they at its siphon make additional and ft,hha advances and readvanCes to Borrower Such advances and
<br />readvmces. with fm dolt thereon shall be sacuiad oy lh:s Cfeed of Trust At ill hme 3"!1 the Prmc,pal amount of the indehlednass secured by this Deed of Trust, not m-
<br />curd" sums advanced to protect the security of thisOad of T r ust exceed Meringir?af prnr,;pm amount stated herein. ors _... _.__. ._.._., whicheverls
<br />greater
<br />12 IffiseeNenee' Ptovlalem
<br />(a) BMefivilaf Net *OMSaed, Extension of the hme for r:ay<irit or m«ddv:alaon 01 amorizahon of the sums secured by This Deed of Trust granted by
<br />Lender 10 any successor in mlerest of Borrower shall not uparata iJ release m en y marinet . the liability of the Original Borrower and Borrower a successors in
<br />interest. Lender shall -Of be requued to commence prOCriedmgs against such sec -osso, or refuse to extend time for payment or otherwise modify amortization
<br />of the sums secured by this Dead of Trust by reason N ar..y demands made by the original Borrower and Borrowers successors in interest
<br />IT)) L,~SPO" Without atfechng the habulty el any nthar Par— Able to' the Payment of any obligation herein mentioned, and without affecting
<br />the lion or charge of flue Deed of Trust upon any portion of rise Property not then or Tnarauyf ore raleaaetl its security for the full amount of all unpaid obligations.
<br />Lander may, from time to tame and wtlficul notice 1,j release any person a0 liable. („) extend The maturity or alter any of the terms of any such obligations, (lit)
<br />grant other lftdufgencf ».. (wY rataasa a+ +acnrvey. or cause tote released or recomeyed at any time at Lender s options any parcel. portion or all of The Property.
<br />(v) take w release any other or addihonai security for any obngahon herein manhnned,or(,, l make compositions or other arrangements with debtors in relation
<br />t"of"o.
<br />(cl Perbowsmeey Lw*fw NM&Wod- -Any I- bearanceby Lender mexerc,sing any right or remedy hereunder or otherwise afforded by applicable
<br />few, "I not boa waiver W or preclude the exercise of any such right or remedy The proc urement of Insurance or the payment of taxes or other liens or charges
<br />by Lehner sham not be a waiver 01 Lender's right to aCCelerafe the maturity of the Indebtedness secured by this Deed of Trust
<br />,(it Saa,"s"On See, Aeafpn B xanC, JoMt and newest L4ta"; CapNeaa. The covenants and agreements harem contained shall bind. and the lights
<br />hereunder aha11 enure to. ilia fespectn* succaasofs antl assigns of Lender and BOrroWef. SuNeCt to the PfOv,s,ens of paragraph B (e) hereof All covenants and
<br />IS QtBOfrOwer sttaa be taunt afstt &aYe +al The Captions and headings of file paragraphs of This Deed of Trust are for convenience only and are not lobe
<br />used to mterpral Or define the provisforra hereof
<br />(e) NeMwN MrINYOM. The parties heabyrequest that a copy of any notice of default hereunder and a copy of any notice of sate hereunder use malted 10
<br />each belly talms Deed of Trust at the address set forth above in the manner prescribed by applcable law Except lot any other notice required under applicable
<br />law to be given in another marine,, any notice provided for in This Deed of Trust shall ha given by mailing such notice by certified mad addressed to the other
<br />part. al its@ addlinflis sat forth above.
<br />Any rrotice, provided fix in this Dead of Trust shalt t# deemed io have been given to Borrower or Lender when given in the manner designated herein.
<br />(f) tesPsQMaR Leader may make of cause to be made rrasorabre entries upon and inspections of the Property, provided that Lender shall give Borrower
<br />notice prior to any Such inspection specifying fearsoftabfe cause therefor related to Lender's interest in the Properly
<br />fill) Mae" - Vilave Upon payment otau sumasecn,red by this Deed of Trust Lender shall rag jest Trustee tore, Ohvey the Property and shall surrender
<br />Vide Used Of Trust aced all notes evidencing indebtedness secured by this Deed of T,,,st to Trustee Trjsiea shau r.co—fly the Property without warranty and
<br />SfCdheYl Charge IO the person of �lapnS Fegatiy entailed meteto Such person or persons Shall tray all costs of wcoidathon. ,f any
<br />fn) Pefas,"faOpalss,sleaterni Aff/alaMM. As additional seCUnly for the payment of the Note all fixtures, equipment. and other personal property used
<br />xs
<br />connec4fonw4h mtefeal estate Of emptovwmants located thereon, and not othennse declared or deemed to ne, apart of The real estate secured hereby. shall be
<br />te a>•Wily entererst nn favor dt 4he Lander unopr The Natrraska Uniform Commercial Code. This instrument shall be construed as a Security Agreement
<br />endear Md Cade, and lie Lender shalt have all the rigftls and re pavan a of a secured party under said Code In addition to the rights and remedies created under
<br />And Woof mss Leade, pursuent to taws Dead of Trust
<br />In the event mat airy provison of this Deed of Trust conflict with applicable law or are declared invalid or otherwise unenforceable+ such
<br />ter shaft hot ~11 tiro fpr0yts40n4 Of this Deed of Trust oil the Note which can beg wen ailed without The contlic ling provision, and to this
<br />end" ppenhagairs of s9M Deed of Trysl and the Note are declared to be wittlabte
<br />ariernewer has threc~ this Deed of T"M MG data w141e0 above
<br />Bnrrowe,ZLarry B. - ..� DBvLS
<br />no"nem,
<br />fill
<br />,
<br />
|