200509650 - Laserfiche WebLink

Browse

200509650 (c) A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a lien on the Property or any portion thereof or interest therein; (d) There shall be filed by or against Trustor or Borrower an action under any present or future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shall be appointed any trustee, receiver or liquidator of Trustor or Borrower or of all or any part of the Property, or the rents, issues or profits thereof, or Trustor or Borrower shall make any general assignment for the benefit of creditors; (e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or any part of or any interest in the Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be perm itted to execute a lease ofthe Property that does not contain an option to purchase and the term of which does not exceed one year; (t) Abandonment of the Property; or (g) TfTrustor is not an individual, the issuance, sale, transfer, assignment, conveyance or encumbrance of more than a total ofTen Percent (10%) of (if a corporation) its issued and outstanding stock or (if a partnership) a total ofTen Percent (10%) of partnership interests during the period this Deed of Trust remains a lien on the Property. 12. Remedies. Acceleration Upon Default. Tn the event of any Event of Default Lender may, without notice except as required by law, declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable without any presentment, demand, pretest or notice of any kind. Thereafter Lender may: (a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause Trustor's interest in the Property to be sold and the proceeds to be distributed, all in the manner provided in the Nebraska Trust Deed Act; (b) Exercise any and all rights provided for in any of the Loan Instruments or by law upon occurrence of any Event ofDefauIt; and (c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof, No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein, in the Loan Instruments or by law provided or permitted, but each shall be cumulative, shall be in addition to every other remedy given hereunder, in the Loan Instruments or now or hereafter existing at law or in equity or by statute, and may be exercised concurrently, independently or successively. 13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without cause appoint a successor or substitute Trustee. Trustee shall not be liable to any party, including without limitation Lender, Borrower, Trustor or any purchaser of the Property, for any loss or damage unless due to reckless or willful misconduct, and shall not be required to take any action in connection with the enforcement of this Deed of Trust unless indemnified, in writing, for all costs, compensation or expenses which may be associated therewith. In addition, Trustee may become a purchaser at any sale of the Property Uudicial or under the power of sale granted herein); postpone the sale of all or any portion of the Property, as provided by law; or sell the Property as a whole, or in separate parcels or lots at Trustee's discretion. 14. Fees and Expenses. In the event Trustee sells the Property by exercise of power of sale, Trustee shall be entitled to apply any sale proceeds first to payment of all costs and expenses of exercising power of sale, including all Trustee's fees, and Lender's and Trustee's attorney's fees, actually incurred to extent permitted by applicable law. In the event Borrower or Trustor exercises any right provided by law to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs and expenses actually incurred as a result of Trustor's default, including without limitation all Trustee's and attorney's fees, to the extent permitted by applicable law. 15. Miscellaneous Provisions. (a) Borrower not released Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modifY amortization of the sums secured by this Deed of Trust by reason of any demands made by the original Borrower and Borrower's successors in interest. (b) Lender's Powers. Without affecting the liability of any other person liable for the payment of any obligation herein mentioned, and without affecting the lien or charge of this Deed of Trust upon any portion of the Property not then or theretofore released as security for the full amount of all unpaid obligations, Lender may, from time to time and without notice (i) release any person so liable, (ii) extend the maturity or alter any of the terms of any such obligations, (iii) grant other indulgences, (iv) release or reconvey, or cause to be released or reconveyed at any time at Lender's option any parcel, portion or all of the Property, (v) take or release any other or additional security for any obligation herein mentioned, or (vi) make compositions or other arrangements with debtors in relation thereto. (c) Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Deed of Trust. (d) Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Trustor. All covenants and agreements of Trustor shall be joint and several. The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof. (e) Request for Notices. The parties hereby request that a copy of any notice of default hereunder and a copy of any notice of sale hereunder be mailed to each party to this Deed of Trust at the address set forth above in the manner prescribed by applicable law. Except for any other notice required under applicable law to be given in another manner, any notice provided for in this Deed of Trust shall be given by mailing by such notice by certified mail addressed to the other parties, at the address set forth above. Any notice provided for in this Deed of Trust shall be effective upon mailing in the manner designated herein. TfTrustor is more than one person, notice sent to the address set forth above shall be notice to all such persons. (t) Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Trustor notice prior to any such inspection specifYing reasonable cause therefor related to Lender's interest in the Property. (g) Reconveyance. Upon payment of all sums secured by this Deed of Trust, Lender shall require a Trustee to reconvey the Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this 14109.CV (9/04) 3304376 Page 3 of4 GOTO(OO 128d4c)