200901437 - Laserfiche WebLink

Browse

200901437 3.14 Effect of Forbearance under Lease Agreement. No release or forbearance of any of Trustor's obligations under the Lease Agreement, pursuant to the Lease Agreement or otherwise, shall release Trustor from any of its obligations under this Deed of Trust. 3.15 No Merger of Interests. Unless Beneficiary shall otherwise expressly consent in writing, the fee title to the Premises and Trustor's leasehold estate therein shall not merge, but shall always remain separate and distinct, notwithstanding the union of the aforesaid estates either in the lessor or the lessee under the Lease Agreement or a third party by purchase or otherwise. IV. EVENT OF DEFAULT AND REMEDIES 4.1 Event of Default. The occurrence of an "Event of Default," as such term is defined in the Credit Agreement, shall constitute an "Event of Default" under this Deed of Trust. 4.2 Foreclosure and Sale. Upon the occurrence and during the continuance of a Default or Event of Default, Beneficiary may foreclose this Deed of Trust, either by judicial action or through the Power of Sale conferred upon the Trustee by this Paragraph. The Trustee may sell the Property in the manner prescribed by the Nebraska Trust Deeds Act after an Event of Default. If this Deed of Trust encumbers more than one parcel of real estate, foreclosure may be by separate parcel or en masse, as Beneficiary may elect in its sole discretion. Foreclosure through Trustee will be initiated by Beneficiary's filing of its notice of election and demand for sale with Trustee. Upon receipt of such notice of election and demand for sale from the Beneficiary, Trustee shall first file for record in the office of the register of deeds of each county wherein the trust property or some part or parcel thereof is situated a notice of default identifying the trust deed by stating the name of the Trustor named therein and giving the book and page or computer system reference where the same is recorded and a description of the trust property, containing a statement that a breach of an obligation for which the trust property was conveyed as security has occurred, and setting forth the nature of such breach and of his or her election to sell or cause to be sold such property to satisfy the obligation. After the lapse of not less than one month, the Trustee shall give written notice of the time and place of sale particularly describing the property to be sold by publication of such notice, at least five times, once a week for five consecutive weeks, the last publication to be at least ten days but not more than thirty days prior to the sale, in some newspaper having a general circulation in each county in which the property to be sold, or some part thereof, is situated. The sale shall be held at the time and place designated in the notice of sale which shall be between the hours of nine a.m. and five p.m. and at the premises or at the courthouse of the county in which the property to be sold, or some part thereof, is situated. All fees, costs and expenses of any kind incurred by Beneficiary in connection with foreclosure of this Deed of Trust, including, without limitation, the costs of any appraisals of the Property obtained by Beneficiary, all costs of any receivership for the Property advanced by Beneficiary, all costs of any environmental audits or tests incurred by Beneficiary and all attorneys' and consultants' fees incurred by Beneficiary, shall constitute a part of the Secured Indebtedness and may be included as part of the amount owing from Trustor to Beneficiary at any foreclosure sale. The proceeds of any sale under this Section shall be applied first to the fees and expenses of the Trustee or other officer conducting the sale (all of whichPshall be part of the obligations secured by this Deed of Trust), and then to the reduction or - 10-