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2 0 0~ o s s 5 3 ~ 11 X299220
<br />11. Foreclosure by Power of Sah If Beneficiary elects to foreclose by exercise of the Power of Sale herein
<br />captained, Beneficiary shall ratify Trustee and shall deposit with Trustee this Second Deed of'I'rust and any note evidencing the
<br />Indebtedness and such receipts and evidence of expenditures made and secured hereby as Trustee may require.
<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be recorded, published and
<br />delivered to Trustar such Notice of Default and Notice of Sale as then required by law and by this Second Decd of
<br />Trust. Trustee shall, without demand on Trustor, after such time as may then be required by law and after recordation
<br />of such Notice of Default and after Notice of Sale having been given as required by law, sell the Trust Estate at the time
<br />and place of sale fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels ar items as Trustee
<br />shall deem expedient, and in such ardor as it may determine, at public auction to the highest bidder for cash in lawful
<br />money of the United States payable at the time of sale. Trustee shall deliver to such purchaser ar purchasers thereof its
<br />good and sufficient deed or deeds conveying the property sa sold, but without any covenant or wan-anty, express or
<br />implied. The recitals in such deed of any matters or facts shall he conclusive proof of the truthfulness thereof Any
<br />person, including without limitation Trustor, Trustee or Beneficiary, may purchase at such sale.
<br />(b) As may he permitted by law, after deducting all costs, fees and expenses of Trustee and of this
<br />Trust, including costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of
<br />(i) the Indebtedness (ii) all other sums then secured hereby, and (iii) the remainder, if any, to the person or persons
<br />legally entitled thereto.
<br />(c) "l~rustee may in the manner provided by law postpone sale of all or any portion of the Trust lastale.
<br />(d) Any person (including his successor and assigns) receiving title to the Property through foreclosure
<br />or decd in lieu of foreclosure shall receive title to such property free and clear of any collateral agreements restricting
<br />the use of such praperiy.
<br />(e) If any holder of the First Deed of Trust (the "Senior Lien Haider") shall acquire title to the Property
<br />pursuant to a deed in lieu of foreclosure, the lien of this Second Deed of "Trust shall automatically terminate upon the
<br />Senior Lien Holder's acquisition of title, provided that (i) Beneficiary has been given written notice of a default under
<br />the First Decd of Trust and (ii) Beneficiary shall not have cured the default under the First Decd of Trust within 30 days
<br />of the notice sent to Beneficiary.
<br />12. Remedies Not Exclusive. '1'ntstee and Beneficiary, and each of them, shall be entitled to enforce payment
<br />and performance of any indebtedness or obligations secured hereby and to exercise all rights and powers under this Second Deed
<br />of Trust or under any Loan Instrument or other agreement or any laws paw ar hereafter in force; notwithstanding, some or all of
<br />the such indebtedness and obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of
<br />trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Second Deed of Trust nor its cnfbrccmcnt, whether by
<br />court action or pursuant to the power of sale or other powers herein contained, shall prejudice or in any manner affect ']~rustee's
<br />or Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiary, it being
<br />agreed tlrnt Trustee and Beneficiary, and each of thorn, shall be entitled to enforce this Second Deed of Trust and any other
<br />security now or hereafter held by Beneftciary or Trustee in such ardor and trapper as they ar Dither of them may in their absolute
<br />discretion determine. No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any
<br />other remedy herein ar by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy
<br />given hereunder or now or hereafter existing al law ar in equity ar by statute. livery power or remedy given by any of the Loan
<br />Instruments to Trustee or Beneficiary or to which either of them may be otherwise entitled, may be exercised, concurrently nr
<br />independently, from time to time and as after as may he deemed expedient by Trustee or $eneficiary and either of them may
<br />pursue inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a deficiency judgment
<br />against the 'I'rustor to the extent such cotton is permitted by law.
<br />13. Request For Notice. Trustor and all other parties set forth herein hereby requests a copy of any Notice of
<br />Default and a copy of any'Notice of Sale hereunder be mailed to them at the address set forth in the first paragraph of this Second
<br />Deed of Trust.
<br />14. Governing Law. 'T`his Second Deed of "Trust shall be governed by and construed in accordance with the laws
<br />of the State of Nebraska. In the event that any provision or clause of any of the Loan Instruments contlicts with applicable laws,
<br />such conflict shall not affect other provisions of such Loan Instruments which can be given effect without the conflicting
<br />provision, and to this end the provisions of the Loan Instruments are declared to be sevemhle. This instrument cannot be waived,
<br />changed, discharged or terminated orally, but only by an instrument in writing signed by the party against wham enforcement of
<br />any waiver, change, discharge or termination is sought.
<br />1VIFAABCFOItMIC.doc
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<br />$ N1FA ABC Loan/Form K
<br />(6/Q9)
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