|
<br />'~''''"(
<br />
<br />83-' uu5521
<br />-3-
<br />
<br />Beneficiary, mailed to Trustor and Recorded in the County in which
<br />the Trust Estate is located and by otherwise complying with the pro-,
<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.
<br />
<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.
<br />
<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.
<br />
<br />9, EVENTS OF DEFAULT. Anv of the following events shall b~
<br />deemed an event of deafult here~nder:
<br />
<br />(a) Trustor shall have failed to :;Jake payment of any install-.
<br />ment of interest, principal, or principal and interest or any other
<br />sum secured hereby when due; or,
<br />
<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.
<br />
<br />10. ACCELERATION UPON DEFUALT. .:;lJDITIONAL REMc:DIES. Should an
<br />event of dctuult occu~ Beneficiarv may declare all indebtedness
<br />secured hereby co be due and payable. imd the same shall thereupon
<br />become due and payable .~ithoue any prcsent::JcnC, demand protest or
<br />notice of any kinds. Thereafter the Beneficiary tClay:
<br />
<br />(i) Ei ther in person or by agent '"i eh ~)r wi thom: bringing
<br />any action or proceeding ~ or by .1 rece i vcr dppoiated by a Court
<br />and without regard to the adequacy of ics security, enter upon and
<br />take ?ossession or the ~;r~st Estarc, (it'" any ?art r:hereof, in its
<br />own name or in the aame of Trustee, ..lnd do any acts \yhich it deems
<br />necessary or desirabl\,; to ;)rescrve the value,. ;n.:trketabilitv or
<br />rentability of the Trust E~t3te~ or part thereof or incere~t therein,
<br />increase the Lucorne chercirom or ;)ortect the ~;ecuri ty hereof d~1tl,
<br />with or without taking possessiun vi ~he Trust Estate, sue for or
<br />otherwise .:ollect the rent.:;, issues and ?roEits thereof) including
<br />those past due and unpaid, and apply ,<he same, less costs and ex-
<br />penses of operation and collection including attorney's fees, upon
<br />any indebtedness secured hereby, all in such order as Beneficiary
<br />may determin. The entering upon and taking possession of the ':'rust
<br />Estate, the collection of such renes, issues and profits and the
<br />applicacion thereof as aforesaid, shall not cure or waive any default
<br />or notice of default: ~er-eui1der or invalidate any act done in l"'eBpon~e
<br />to such default or pursuant to such notice of default and, notwith-
<br />standing the continuance in possession of the Trust Estate or the col-
<br />lection, receipt nod application of rents, issues or profits, Trustee
<br />or Beneficiary shall be entitled to exercise every right provided
<br />for in any of the ~an Instruwents or by law upon occurrence of any
<br />event of default, including the right to exercise the power of sale;
<br />
<br />(i1) Commence an action to foreclose this Deed of Trust: as a
<br />mortgage, appoint a receiver, or specifically enforce any of the
<br />covenants hereof;
<br />
<br />(iii) Deliver to Truseee a written declaraCion oI default and
<br />demand for sale, and a written notice of ,iefault and e10ction to
<br />cause Trustor':; interest in the Trust Estate to be sold. which not-
<br />ice Trustee shall cause to be duly filed for record in the appropri-
<br />ate Official Records of the County in which the Trust Estate is lo-
<br />cated.
<br />
|