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201004018 <br />11. Foreclosure by Power of Safe. If Beneficiary elects to foreclose by exercise of the Power of Sale herein <br />contained, Beneficiary shall notify Trustee and shall deposit with Trustcc Wis Second Aced of Trust and arty 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 Beneficaary, Trustee shall cause to be recorded, published and <br />delivered to Trustor such Notice of Default and Notice of Salo as then required by law and by this Sewed heed 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 a8er Notice of Sala having been given as required by law, sell the Trust Estate at the time <br />and place of sale frxed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as Trustee <br />shall deem expedient, and in such order es it may detemtine, 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 or purchasers thereof its <br />good and sufficient deed or deeds conveying the property so sold, but without any covenant or warranty, express or <br />implied. The recitals in such dead of any matters or facts shall be 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 be permitted by law, after deducting all costs, fees and expenses of Trustee and of this <br />Trust, including coats 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) Trustee may in the manner provided by law postpone sale of all or any portion of the Trust Estate. <br />(d) Any person (including his successor and assigns} receiving title to the Froperty through foreclosure <br />or deed in lieu of foreclosure shall receive title to such property free and clear of any collateral agreements restriet;ng <br />the use of such property. <br />(e) If any holder of the First Deed of Tntst (the "Senior Lien Holder'? shall acquire title to the Property <br />pursuant to a deed in lieu of foreclosure, the lien of this Sceond Aeed of Trust shall automagcally terminate upon the <br />Senior Lien Holder's acquisition of Lille, provided that (i) Beneficiary has been given wriuen notice of a default under <br />the First Deed of Trust and (ii) Beneficiary shall not have cured the default under the First Deed of Trust within 3() days <br />of the natice sent to Beneficiary. <br />12. Remedies Net ExciustvG Trustee 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 Reed <br />of Trust ar under any Loan Instrument or other agreement or any laws now or 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 enforcement, whether by <br />court action or pursuant to the power of sale or other powers herein contained, shall prejudice ar in any manner affect Trustee's <br />or Beneficiary's right to realize upon or enforce arty other security now or hereafter held by Trustee or Beneficiary, it being <br />agreed that Trustee and $eneliciary, and each of them, shall be entitled to enforce this Second Dead of Trust and any other <br />security now or hereafter held by Beneficiary or Trustee in such arder and manner as they or either of them may in their absolute <br />discretion determine. No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusivt of any <br />other remedy herein or 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 at law or in equity or by statute. Every power or remedy given by any of the Loan <br />Instruments to Trustee or Beneficiary ar ro which either of them may be otherwise entitled, may be exercised, concurrently or <br />independently, from time to time and as o#len as may be deemed expedient by Trustee or Beneficiary and either of them may <br />pursue inconsistent remedies. Nothing herein shall be construed as prohibiting Beneftciary from seeking a deficiency judgment <br />against the Trustor to the extent such action is permitted by law. <br />13. Request For Notice. Trustor and all other parties sat 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 />Used of Trust. <br />1 Q. Governing 1:nw. This 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 nr clause of any of the Loan Instruments conflicts 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 era declared to be severable. This instrument cannot be waived, <br />changed, discharged or ternninated oralty, but only by an instrument in writing signed by the parry against whom enforcement of <br />any waiver, chartge, discharge or termination is sought. <br />4 NIFA ASC LoanlForm K <br />(12/09) <br />4841 4552-3717. t <br />