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200803604
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Last modified
4/29/2008 5:01:45 PM
Creation date
4/29/2008 4:17:51 PM
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DEEDS
Inst Number
200803604
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<br />200803604 <br /> <br />State of Nebraska. It is agreed that the interest provided for in subsection (g) above shall be at <br />the same rate as specified in the Note secured hereby on the principal thereof after default and <br />maturity. <br /> <br />2. In the event Trustor, without the prior written consent of Beneficiary shall sell, <br />transfer or conveyor contract to sell, transfer or convey the Real Estate, or any part thereof or <br />any interest therein, the entire balance of the indebtedness hereby secured shall become and <br />be immediately due and payable at the option of Beneficiary; provided, however, Beneficiary <br />may waive such option to accelerate if, prior to such sale, transfer or conveyance or contract <br />therefor, Beneficiary and the person to whom the Real Estate is to be sold or transferred reach <br />an agreement in writing that the credit of such person is satisfactory to Beneficiary and that the <br />interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary <br />shall request. <br /> <br />3. As further security for the payment of the Note and the indebtedness thereby <br />evidenced and the performance of all of the terms, covenants and conditions hereof, Trustor <br />agrees that Beneficiary shall and does hereby have the right, power and authority during the <br />continuance of this Deed of Trust to collect the rents, issues and profits of the Property with or <br />without taking possession of the Property affected thereby; and Trustor hereby absolutely and <br />unconditionally assigns all such rents, issues and profits to Beneficiary. Beneficiary, however, <br />hereby consents to Trustor's collection and retention of such rents, issues and profits as they <br />accrue and become payable so long as Trustor is not at such time in default with respect to <br />payment of any indebtedness secured hereby or in the performance of any agreement <br />hereunder. Upon any such default, Beneficiary may at any time, either in person, by agent, or <br />by receiver to be appointed by a court, without notice and without regard to the adequacy of any <br />security for the indebtedness hereby secured (a) enter upon and take possession of the <br />Property or any part thereof and in its own name sue for or otherwise collect such rents, issues <br />and profits, including those past due and unpaid, and apply the same, less costs, and expense <br />of operation and collection, including reasonable attorney's fees, upon any indebtedness <br />secured hereby and in such order as Beneficiary may determine; (b) lease the same or any part <br />thereof for such rental, term and upon such conditions as Beneficiary's judgment may dictate or <br />terminate or adjust the terms and conditions of any existing lease or leases. Unless Trustor and <br />Beneficiary agree otherwise in writing, any application of rents, issues or profits to any <br />indebtedness secured hereby shall not extend or postpone the due date of the installment <br />payments as provided in the Note or change the amount of such installments. The entering <br />upon and taking possession of the Property, the collection of such rents, issues and profits, and <br />the application thereof as aforesaid, shall not waive or cure any default or notice of default <br />hereunder, or invalidate any act done pursuant to such notice. Trustor assigns to Beneficiary, <br />as further security for the performance of the indebtedness and obligations secured hereby, all <br />prepaid rents and all moneys which may have been or may hereafter be deposited with Trustor <br />by any lessee of the Property, to secure the payment of any rent or damages, and upon default <br />in the performance of any of the provisions hereof, Trustor agrees to deliver such rents and <br />deposits to Beneficiary. Delivery of written notice of Beneficiary's exercise of the rights granted <br />by this paragraph third to any tenant occupying the Property or any portion thereof shall be <br />sufficient to require said tenant to pay said rent to Beneficiary until further notice. <br /> <br />9 <br /> <br />Initials 111412 JSry <br />!Jet!/ (€"~~? <br />o/fr <br />(fJ <br />~. j? A. I{JcJ <br />r YIL) <br />
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