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<br />83-0053:96
<br />Beneficiary, mailed to Trustor and Recorded in the County in which
<br />the Trust Estate is located and by otherwise complying with thepro'"- '
<br />visions of the applicable law of the State of Nebraska substitute
<br />a successor or successors to the Trustee named herein or.acting
<br />hereunder.
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<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to,
<br />inures to the benefit of and binds all parties hereto,'their heirs,
<br />legatees, devisees, personal representatives, successors and assigns.
<br />The term "Beneficiary" shall mean the owner and holder of the Note',.
<br />whether or not named as Beneficiary herein.
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<br />8. INSPECTIONS. Beneficiary, or its agents, representatives
<br />or workmen, are authorized to enter at any reasonable time upon or
<br />in any part of the Truste Estate for the purpose of inspecting the
<br />same and for the purpose of performing any of the acts it is author~
<br />ized to perform under the terms of any of the Loan Instruments.
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<br />9, EVENTS OF DEFAULT. Any of the following events shall be
<br />deemed an event of deafult hereunder:
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<br />(a) Trustor shall have failed to make payment of any install-
<br />ment of interest, principal, or principal and interest or any other
<br />sum secured hereby when due; or,
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<br />(b) There has occurred a breach of default under any term,
<br />covenant, agreement, condition, provision, representation, or war-
<br />ranty contained in any of the Loan Instruments.
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<br />10. ACCELERATION UPON DEFUALT, ADDITIONAL REMEDIES. Shouldan
<br />event of default occu~Beneficiary may declare all indebtedness
<br />secured hereby to be due and payabl~ and the same shall thereupon
<br />become due and payable without any presentment, demand protest or
<br />notice of any kinds. Thereafter the Beneficiary may:
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<br />(i) Either in person or by agent with or \~ithout bringing
<br />any action or proceeding, or by a receiver appointed by a Court
<br />and \~ithout regard to the adequacy of its security, cntpr npon and
<br />take possession of the Trust Estate, or any part thereof, in its
<br />own. name or in the name of Trustee, and do any acts which :it deems
<br />necessary or desirable to preserve the value, marketability or
<br />rentabi.lity of the Trust Estate, or part thereof or Intc'n'r;1: th0n'in,
<br />increase the income therefrom or portect the security hereof Lllld,
<br />with or \~ithout taking possession of the Trust Estate, sue lor or
<br />otherwise collect the rents, issues and profits thereof, includi.ng
<br />those past due and unpaid, and apply the same, less costs and ex-
<br />penses of operation and collection including attorney's feeii, "pOll
<br />any indebtedness secured hereby, all in such order as Fleneric i;lr.'
<br />may determin. The entering upon and taking possessi.on of "he "nl I
<br />Estate, the collection of such rents, issues and profits am! ell.'
<br />application thereof as aforesaid, shall not cun' or waiv(~ nllY deinult
<br />or notice of default hereunder or invalidate: any act: dope' Ln- (\'sl"'llse
<br />to such default or pursuant to such notice of default ;Jnd, notwith-
<br />standing the continuance in possession of the Trust Estate or the col-
<br />lection, receipt nnd application of rents, issues or profi.ts, Trustee
<br />or Reneficiary shall be entitled to exercise every right provided
<br />for in any of the Loan Instruments or by law upon occurrence of any
<br />event of default, including the right to exercise the po\~cr of sale;
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<br />(:it) Commence an action to foreclose this Deed of Trust as .:!
<br />mortgage, appoint a receiver, or specifically enforce any of the
<br />covepants hereof;
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<br />(lii) Deliver to Trustee a written declaration of default ;111..1
<br />df'mand for sale, and a written notice of default Hnd electiun to
<br />C!.\llse 'trustor's interest in the Trust Estate to be sold, which nn(
<br />Lee. Trustee shall Cause to be duly filed for record in the appropLl-
<br />ate Official Records of the County in which the Trust Estate I,; 10-'
<br />coated.
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