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201002922
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Last modified
5/3/2010 4:17:36 PM
Creation date
5/3/2010 4:11:43 PM
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DEEDS
Inst Number
201002922
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201002922 <br />thereon as provided therein, in such order and manner as Master Collateral Agent may <br />determine; (iii) third, to the payment of the principal amounts outstanding under the Benefited <br />Creditor Documents in such order and manner as Master Collateral Agent may determine and all <br />other Indebtedness; (iv) fourth, to the payment of all accrued but unpaid interest due under the <br />Benefited Creditor Documents in such order and manner as Master Collateral Agent may <br />determine; and (v) fifth, to Subsidiary. Subsidiary, any guarantor of the Indebtedness and any <br />other party liable on the Indebtedness, including, without limitation, Arctic Group, shall be liable <br />for any deficiency remaining in the Indebtedness subsequent to any sale referenced in this <br />subsection (i) subject to the provisions of the Benefited Creditor Documents which may limit <br />Master Collateral Agent's recourse against Arctic Group. <br />(g) Master Collateral Agent shall have the right to become the purchaser at <br />any sale of the Property hereunder and shall have the right to be credited on the amount of its bid <br />therefor all of the Indebtedness due and owing as of the date of such sale. <br />(h) If Master Collateral Agent shall accelerate the Indebtedness following the <br />occurrence of an Event of Default, any payments received by Master Collateral Agent following <br />such acceleration, whether as the result of voluntary payments made by Subsidiary or as a result <br />of the sale of the Property, shall be deemed voluntary prepayments of the Indebtedness and <br />accordingly, the prepayment fee required under the Benefited Creditor Documents shall also be <br />payable, subject to the terms of the Benefited Creditor Documents . <br />(i) To the extent provided by applicable law, the purchaser at any trustee's or <br />foreclosure sale hereunder may disaffirm any easement granted, or rental, lease or ather cantract <br />made in violation of any provisions of this Instrument and may take irnrnediate possession of the <br />Property free from, and despite the terms of, any such grant of easement, rental, lease or other <br />contract. <br />2S. RELEASE. Upon payment of all sums secured by this lnstrurnent, Master <br />Collateral Agent shall release this Instrument at Subsidiary's cost. <br />26. SUBSTITUTE TRUSTEE. Trustee shall not be liable for any error of judgment <br />or act done by Trustee, or be otherwise responsible or accountable under any circumstances <br />whatsoever. Trustee shall not be personally liable in case of entry by it or anyone acting by <br />virtue of the powers herein granted it upon the Property for debts contracted or liability or <br />damages incurred in the management or operation of the Property. All monies received by <br />Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which <br />they were received, but need not be segregated in any manner from any other monies (except to <br />the extent required by law) and Trustee shall be under no liability for interest on any monies <br />received by it hereunder. <br />Trustee may resign by giving of notice of such resignation in writing to Master <br />Collateral Agent. If Trustee shall die, resign or became disqualified from acting, or shall fail or <br />refuse to exercise its powers hereunder when requested by Master Collateral Agent so to do, or if <br />for any reason and without cause Master Collateral Agent shall prefer to appoint a substitute <br />trustee to act instead of the original Trustee named herein, or any prior successor or substitute <br />21 <br />(Grand Island, Hall County, Nebraska) <br />10476803.5 <br />14451-2246 <br />
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