84000720 - Laserfiche WebLink

Browse

g4 -,(iCJ0720 10. Remedies Cumulative. All remedies provided in this Trust Deed are distinct and cumulative to any other right or remedy under this Trust Deed or affor- ded by law or equity, aad may be exercised concurrently, independently or succes- sively. Duties imposed upon Lender under this Trust Deed aad under any other docu- ment evidencing indebtedness or other collateral security shall not be construed to be cumulative and shall be construed in the context of the purpose of the document and the nature of the particular collateral. In the event of inconsistency between such documents as to such duties, the terms of this Trust Deed shall control. 11. Successors and Assigns Bound; Joint and Several Liability; Ca~tiona. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Trustor, subject to the provisions of paragraph 14(f) hereof. All covenants and agreements of Trustor shall be joint and several. The captions and headings of the parag=apps of this Trust Aeed are f'or convenience only and are not to be used to interpret or define the provisions hereof. 12. Notice. Except for any notice required under applicable law to be given in another manner, {a) any notice to Trustor provided for in this Trust Deed shall be given by mailing such notice by certified mail addressed to Truster at 4508 W. Capital Avenue, Grand Island, Nebraska 68801 or at such other address as Trustor may designate by notice to Lender as provided herein, and {b) any notice to lender shall be given by certified mail, return receipt requested, to Lender's address stated herein or to such other address as Lender may designate by notice to Trustor as provided herein. Any notice provided for in this Trust Deed shall be deemed to have been given to Trustor or Lender when given in the manner designated herein. 13. Governing Law; Severability. This Trust Deed shall be governed by the laws of the Slate of Nebraska. In the event that any provision or clause of this Trust Deed conflicts .ith agpu cable law, such conflict shall not affect other provi- sions of this Trust Deed which can be give^ effect without the conflicting provisions and to this end the provisions of this Trust Deed are declared to be severable. 14. Events of Default. Each. of the following occurrences shall constitute an event of default hereunder {herein called "Event of -efaul.t"): (a} Borrower shall fail to pay when due any Indebtedness or Trustor shall fail to duly perform or observe any of the covenants or agreements contained in this Trust Deed, and such failure shall continue for ten calendar davs tb) Any warranty of title made by Trustor iu this Trust Deed shall be untrue ar be breached (c) Any representation or warranty made by Borrower or Trustor in any financial statements ar reports submitted to Lender by or an behalf of Borrower ar Trustor shall prove false or materi- a11y misleading {d) Borrower shall fail to pay any debt, liability or obligation awed by it to Leader or shall fail to perform or observe any obligation set forth in, ar binding upon it under, any note, financing statement, security agreement, loan or credit agxee- meat, letter of credit agreement, mortgage, or other agreement between it and Lender, or any default or event of default shall occur under any such agreements {e} Filing, as [o Barrawer or Trustor, of a petition, voluntarily ar involuntarily, for relief under the Bankruptcy Code, 11 u.S.C. Sections 101 through 17I32b, or under any other federal or state law relating to or providing for the comgositian, discharge or adjustment of rights or debts; or the appointment, or the application for appointment, of a custodian, receiver or trustee for Borrower or Trustor or for any property of Borrower or Trustor; or an assignment by Harrower or Trustor for the benefit of creditors; or any adjudication by any state or