|
<br />200809776
<br />
<br />(a) Failure to pay any installment of principal or interest or any other sum secured hereby
<br />when due;
<br />
<br />(b) A breach at: or default under, any provision contained in the Note, this Deed of Trust,
<br />any of the Loan Instruments, or any other lien or encumbrance upon the Property;
<br />
<br />(c) A writ of execution or attaclunent, or any similar process, shall be entered against
<br />Trustor which shall become a lien on the Property or any portion or interest therein;
<br />
<br />(d) There shall be filed by or against Trustor or Borrower an action under any present or
<br />future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other relief
<br />for debtors, or there shall be appointed any trustee, receiver or liquidator of Trustor or Borrower or of
<br />all or any part of the Property, rents, issues or profits thereof, or Trustor or Borrower shall make any
<br />general assigmnent for the benefit of creditors;
<br />
<br />(e) The sale, transfer, assignment, conveyance or further encumbrance of all or any part of
<br />or any interest in the Property, either voluntarily or involuntarily, without the express written consent
<br />of Lender or as otherwise herein permitted; or
<br />
<br />(f) Abandonment of the Property.
<br />
<br />12. Remedies: Acceleration Upon Default. In the event of and Event of Default, Lender may, without notice
<br />except as required by law, declare all indebtedness secured hereby to be due and payable, and the same shall thereupon
<br />become due and payable without any presentment, demand, protest or notice of any kind, Thereafter, Lender may:
<br />
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall
<br />thereafter cause Trustor's interest in the Property to be sold and the proceeds to be distributed, all in
<br />the manner provided in the Nebraska Trust Deeds Act;
<br />
<br />(b) Exercise any and all rights provided for in the Note, this Deed of Trust or by law upon
<br />occurrence of any Event of Default; and
<br />
<br />(c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or
<br />specifically enforce any of the covenants hereof,
<br />
<br />No remedy herein conferred upon, or reserved to, Trustee or Lender is intended to be exclusive of any other remedy
<br />herein, in the Note or by law provided or permitted, but each shall be cumulative, shall be in addition to every other
<br />remedy given hereunder, in the Note or now or hereafter existing at law or in equity or by statute, and may be exercised
<br />concurrently, independently or successively.
<br />
<br />13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without cause
<br />appoint a successor or substitute Trustee, Trustee shall not be liable to any party, including, without limitation, Lender,
<br />Borrower, Trustor or any purchaser of the Property, for any loss or damage unless due to reckless or willful misconduct,
<br />and shall not be required to take any action in connection with the enforcement of this Deed of Trust unless indemnified,
<br />in writing, for all costs, compensation or expenses which may be associated therewith. In addition, Trustee may become
<br />a purchaser at any sale of the Property (judicial or under the power of sale granted herein); postpone the sale of all or
<br />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
<br />discretion,
<br />
<br />14, Fees and Expenses, In the event Trustee sells the Property by exercise of power of sale, Trustee shall be
<br />entitled to apply any sale proceeds first to payment of all costs and expenses of exercising power of sale, including all
<br />Trustee's fees, and Lender's and Trustee's attorney's fees actually incurred to the extent permitted by applicable law, In
<br />the event Borrower or Trustor exercises any right provided by law to cure an Event of Default, Lender shall be entitled
<br />to recover from Trustor all costs and expenses actually incurred as a result of Trustor's default, including, without
<br />limitation, all Trustee's and attorney's fees, to the extent permitted by applicable law.
<br />
<br />15. Future Advances. Upon request of Borrower, Lender may, at its option, make additional and future
<br />advances and readvances to Borrower. Such advances and readvances, with interest thereon, shall be secured by this
<br />Deed of Trust. At no time shall the principal amount of the indebtedness secured by this Deed of Trust, not including
<br />sums advanced to protect the security of this Deed of Trust, exceed tlle original principal amount stated herein, or
<br />$500,000,00, whichever is greater.
<br />
<br />16. Miscellaneous Provisions.
<br />
<br />(a) Borrower Not Released, Extension of the time for payment or modification of amortization of the
<br />sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to
<br />release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be
<br />required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify
<br />amortization of the sums secured by this Deed of Trust by reason of any demands made by the original Borrower and
<br />Borrower's successors in interest.
<br />
<br />3
<br />
|