|
<br />r
<br />83- 0064r~O
<br />
<br />r
<br />
<br />further, this Deed of Trust may. at Lender's oPtion, be declared immediately due and payable if (1) Borrower isa
<br />partnership and sells or assigns by any means whatsoever any partnership interest, or (2) if Borrower-is a corporation
<br />and 8.orrower or its parent corporation sells or assigns by any means whatsoever _ % or more of the-stock.
<br />of the- corporation or par.ent corporation or it said Borrower or its parent corporation merges in any form with
<br />another corporatron or entity, or (3) If Borrower is a corporation and there is a change in the majoritY of the mem-
<br />bers of the Board of Directors of the Borrower or its parent corporation, or (4) if Bom>wer is a corporation and
<br />there is a change in the person of Chief Executive Officer of said corporation or its parent corporation; Beneficiary
<br />shall have wai'led such opti.nn to' accelerate. if, prior to the sale, transfer or conveyance. Beneficiary and the person to
<br />whom the property is to be sold or transferred reach agreement in writing .that the credit of such- person -is satis~
<br />factory to Beneficiary and that the interest payable on the sums secured by this Deed of Trust shail be at such
<br />rate as Beneficiary .hall request,
<br />
<br />12. Acceleration upon Default; Remedies; Sale. Upon default by Trustor in the payment of or performance
<br />of the- terms and conditions of the Note. or any renewals, modifications or extensions thereof; or the paym-ent-of
<br />any other indebtedness secured hereby or in the performance of any of the covenants or agreements hereunder,
<br />Beneficiary may declare all sums secured hereby immediately due and payable and the same shall thereupon become
<br />due and payable without presentment, demand, protest or notice of any I<ind. Thereafter, Beneficiary may deliver to
<br />Trust.. a written declaration of default and demand for sale. Trustee shail have the power of sale of the Property
<br />and if Beneficiary decides the Property is to be sold it shall deposit with Trustee this Deed of Trust aOOthe Note or
<br />notes and any other documerns evidencing expenditures secured herebY, and shall deliver to Trustee a written notice
<br />of default and election to cause the Property to be sold, and Trustee, in turn, shail prepare e similar notice in the
<br />form required by law, which shall be duly filed for record by Trustee,
<br />
<br />lal After the la"", of such time as may be required by law foilowing the recordation of Notice
<br />of Default. and Notice of Default and Notice of Sale having been given as required by law,
<br />Trustee, without demand on Trustor, shail $811 the Property in one or more parcels and in
<br />such order as Trustee may determine on the date and at the time and place designuted in said
<br />Notice of Sale, at public auction to the highest bidder, the purchase price payable in cash in
<br />!awful money of the United States at the time of sate. The person conducting the sale may,
<br />for any cause he or she deems expedient, postpone the sale from time to time until it shall
<br />be completed and, in evlfY such case, notice of postponement shail be given by public decla-
<br />ration thereof by such person at the time and place last appointed for the sate; provided, if
<br />the Site is postpOned for longer than one III day beyond the day designated in the Notice of
<br />Slle. notice thereof wn be given in the same manner as the original Notice of Sate. Trustee
<br />shall ""ecule and deliv... to the purchaser its Deed conveying the PropertY so sold, but
<br />Wtthout any covenam or warrantY, express, or lmp!iect The recitals in the Deed of any
<br />matters or facts shall be conclUSIVe proof of the truthfuln... thereof. Any person, inciuding
<br />without limitation Beneficiary or Trustee, may purch.se- at the sale.
<br />
<br />ibl When Trustee sail. pursuant to the _. herein, Trustee shell apply the proceed. of the
<br />saie- to oayment of the cOSts and e:xpenl8$ of -axereising the power of sale and of the sale.
<br />inc-tuding, without limitation, the payment of Trusteets Fees incurred, which Trustee'$; Fees
<br />shall not In the aggrogate ...coed the sum of Five Hundred and No/1OO i$500,OOl plus 1/2
<br />of 1% of the amount socured hereby and remainIng unpaid and then to the items .et fonh
<br />in wbpM-agraph fe) hereof in the order therein ,tlted.
<br />
<br />lcl After !lOVing the items _fied in iUbparograph \bl. if the sale is by Trustee. or the proper
<br />coon and other casu of forectooure and sale if the ...le is pursuant to judicial foreclosure,
<br />the ptoeeeds of sale shall be applied in the order stated below to the payment of:
<br />
<br />(1) Cost of any evidence of title procured in connection with ;uch Slle and at any reve,
<br />nue required to be paid;
<br />
<br />121 All sums then secured hereby;
<br />
<br />(31 The rerneinder, if any, to the _son legally entitled thereto.
<br />
<br />13. Additlonel SecuritY Instruments. Trustor, at iu exp""",, will execute and deliver to the Beneficiary,
<br />promptly upon demand, such security instrumenu as may be required by Beneficiary, in form end substance ISti..
<br />factl>ty to s-ficiary, """ering any of the Property conveyed by this Deed of Trust, which security inst:rumenu
<br />shell be adlIftional seo,ority 10< TrustO< 's faithful performance of all of the torm., covenanu and conditions of this
<br />Qqd of Trust. the promismrv notes secured hereby. and any other security irutruments executed in connection
<br />with this transaction. Such instruments shall be re<lOfded or filed at Trustor's exPenta,
<br />
<br />14. ApPointment of SuCCO'SSOf Trutt... Beneficiary may, from time to time, by a written instrument ex..
<br />cuud and acknoWledged by 8onelicilory, mailed to Trustor and recorded in the county or counties in which the
<br />Property il !ocosted and byothatwue complying with the provision. of the applicable 1-. of the State of Nebraska
<br />~ a _ or WCCOIIOrI to the Trust.. named herein or acting hereunder,
<br />
<br />15. t~io~ a-ficiarV. or its aQanl1. repr........ti... Of workmen, are authoriZed to enter at eny
<br />r~ t~uflQO or in any part "f the Property lor the 1lU_ of I~ing the same and for the purpo$O of
<br />I*fclfmltlt."Y oHhe _ it .. 4lUtIlorind to pwform undor the terms of the Deed of Trust.
<br />
<br />"',",!>tU
<br />
<br />PlIQll 4 of E
<br />
|