|
D~~D U~ TRUST
<br />I~aan No: 8QS301 (Continued) 2 010 0 fi 4 2'7 P~g~
<br />Other Defaults. Trustee's act or failure to act adversely affects L.ender's security interest in the Properly, or any right of lender's in
<br />such security.
<br />Right to Cure. If any default, other than a default in payment is curable Fled if Trustnr has not. been given a noire of a breach of r.he
<br />same provision of this Deed of Trust within the preceding twelve (12) months, it may he cured if Trustnr, after Lender sends written
<br />notice to Trustnr demanding cure of such default: 11- cures tktc default within twenty (7.0) days; or 12) if the cum requires more
<br />than twenty (7.0) nays, immediately initiates steps which Lander deems in Lender's sole discretion to be sufficient to cure the default
<br />and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably
<br />practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default acct+rs under this Dead of Trust, at any time thereafter, Trustee or Lender
<br />may exercise any tine or more of the following rights and remedies:
<br />Acceleration Upon Default; Additional Remedies. If any Evnnl of Uerault occurs as per the tc!rms of the Note secured hereby,
<br />Lender may declare all Indebtedness ser.ured by this Ueed of Trust to he due and payable anti the serer: shall thereupon become
<br />due and payable without any presentment, demand, protest yr notice of any kind. Thereafter, Lender rnay:
<br />lal Either in person or by agent, with or without ktr'inging any action or pror,~ading, or by a receiver appointed by a court and
<br />without regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its
<br />own Warne or in the name of Trustee, and do any arts which it deems necessary or desirable tr:t preserve the value,
<br />marketability or rentability of the Property, or part of the Property ar interest in the Property; increase the income from the
<br />Property or protect the security of the Property; and, with or without taking possession of the Property, sue for or otherwise
<br />collect the rents, issues and profits of th(t Property, including those past duo and unpaid, and apply the same, less casts and
<br />expenses of operation and collection attorneys' Tees, to arty irnJebledness secured by this Deed of Trust, all in such order as
<br />Lender may determine. -the entering upon and taking possession of the Property, the collection of such rents, issues and
<br />profits, and the application thereof shall not curd or waive any default or notice of default un(ier this Ueed of Trust or
<br />invalidate any act done in response to such default or pursuant to such notice aF default; ctnd, notwithstanding the
<br />continuance in possession of the Proparty or the rollctetion, receipt anti applicatiart of rents, issucts or profits, Trustee ur
<br />Lender shall be entitled to exercise every right provided for in the Note or the Related Documents or by law upon the
<br />occurrence of any event of default, including the right to oxerr.isa the power of sale;
<br />Ihl Commence an action to foreclose this Uee(1 aF Trust as a mortgage, appoint a receiver or specifically enforce any of the
<br />covenants hereof; and
<br />(c) Deliver to Trustee a written declaration of default anti demand for sale and a written entice of default and election to
<br />cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to be duly filed far record in the
<br />appropriate offices of the County in which the Property is located; and
<br />(d) With respect to all or any part of the Personal Property, Lander shall have all the rights and rerrtedies of a secured party
<br />under the Nebraska Uniform Gommrtrcial Code.
<br />Foreclosure by Power of Sale. If Lender elects to foredc:rse by exercise of the Power of Sale! horrin contained, Lender shall notify
<br />Trustee and shall deposit with Trustee this Deed of 'I'rusl: and the Note and such r~(,eipts and evidence of expenditures made and
<br />secured by this Ueed of Trust as Trustee may require.
<br />Ia1 Upan receipt of such notice from lender, Trustee shall cause to be recorded, published and delivered to 'Tntstar such
<br />Notice of Uefault and Notice of Sale as then required tty law and by this 1:)Ped of T"rust., '>-rustee shall, without dctmand on
<br />Trustnr, after such time as may Then be required by law and after recordal.ion of such Notice of Ur~fault and after Notice of
<br />Sale having been given as required by law, sell the Property at the time and place of sale fixed by it in such Notice of Sale,
<br />either as a whole, or in separate lots or parcels ar items as Trustee shall deem expedient, an(1 in s(.(c;h order as it may
<br />determine, at public auction to the highest bidder for rash in lawful money of the United States payable at the time of sale.
<br />Trustee shall deliver to such purchaser or purr.hasars thereof its good and sufficient deed or deacls conveying the property so
<br />sold, but without any covenant or warranty, express or implied. "f he recitals in such deed of any matters or farts shall be
<br />conclusive proof of the truthfulness thereof. Any persvn, inclcding without limitation Trustnr, Trustee, or Lender, may
<br />purchase at such sale.
<br />Ib) As may be permitted by law, after deducting all costs, foes and expenses of fYustee and of this Trust, irtrluding assts of
<br />evidence of title in connection with sale, Trustee shall apply the: proceeds of sale to payment of (i) all sums expanded under
<br />the terms of this Deed of 1-rust or under the terms of the Note not then repaid, including but not limited to accrued interest
<br />and late charges, (iii all other sums then secured hereby, and (iii) th(= remainder, if any, to the person or persons legally
<br />entitled thereto.
<br />Icl Trustee may in the manner provided by law postpone s:.tle of all or any portion of the Property.
<br />Remedies Mot Exclusive. Trustee and Imender, and each of t.hern, shall he entitled to enforce payment and f.rerforrrrance of any
<br />indebtedness or obligations secured by this Qeed of Trust and to exercise all rights and powers under this Deed of Trust, under the
<br />Note, under any of the Related Uacttments, or under any tither agreement or any laws now ar hereafter in force; nolwithstanrJing,
<br />sortie or all of such indebtedness and obligations secured by this Drted of Trust may now or hereafter ba otherwise secured, whether
<br />by mortgage, deed of trust, pledge, lien, assignrnenl or otherwise. Neither the acr..eptance oT this DFed of Trust nor its enforcement,
<br />whether by court action or pursuant to the power of sale or other powers contained in this Deed of Trust, shall prejudice or in any
<br />manner affect Trustee's or Lender's right to realize upon or enforce any other security now or hereafter held by Trustee or Lender, it
<br />being agreed that Trustee and Lender, and each of theta, shall he entitled to enforce ll'tis L)eed of Trust and any outer security saw or
<br />hereafter held by Lender or Trustee in such order and manner as they or eittrer of them may in their absolute discretion determine. No
<br />remedy conferred upon or reserved to Trustee or Lender, is intendec.l to be exclusive of any other remedy in this Deed oT Trust or by
<br />law provided or permitted, br.rt each shall he cumulative and shall be in addition to every tither remedy given in this Deed of -Crust or
<br />now or hereafter existing at law or in equity or by statute. Every power or remedy given by the Note or any aF the Related Uocurnents
<br />to Trustee or Lender or to which either of them rnay be otherwise entitled, may be exercised, concun'eru.ly ar independently, from time
<br />to time and as often a5 may be deemed expedient by Trustee or Lender, and either of there rnay pursue inconsistent remedies.
<br />Nothing in this Deed of Trust shall be construed as prohibiting leerier from seeking a deficiency judgment against the Trustnr to the
<br />extent such action is permitted by law.
<br />Election of Remedios. All of Lender's rights and remedies will be cumulative and may be exercised alone or together. If Lender
<br />decides to spend money or to perform any of Trustor's obligations ttnrler this Ueer.l of Trtast, after Truswr's failure to rJo so, that
<br />decision by Lender will not affect Lender's right to dec;lare'Trustnr in default and to exercise Lender's remedies.
<br />Request for Notice. Trustnr, on behalf of Trustnr and Lender, h~rrby requests that a copy of any Notice of k)efault and a ropy oT any
<br />Notice of Sale under this Deed of Trust he mailed to them ai the addresses set firth in the first paragraph of this Deed of Trust.
<br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the ter'rns of this Deed of Trust, Lender shall be
<br />entitled to recover such sum as the court rnay adjudge reasonable as attonteys' fees at trial and (span arty appeal. Whether or not any
<br />court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in tender's opinion era
<br />necessary at any time for the protection of its interest or the ertforrement of its rights shall hecorne a part of the Indebterness payable
<br />on demand and shall boar interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph
<br />include, without limitation, however subject to any limits undr-.r applicable law, Lender's attorneys' fees and Lender's legal expenses,
<br />whether or not flare is a lawsuit, including attorneys' fans and expenses Tor bankruptcy proceedings (including efforts to modify or
<br />vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cast of searching
<br />records, obtaining title reports (including foreclosure reportsl, survFyors' reports, and appraisal fees, title insurance, and fees far the
<br />Trustee, to the extent permitted by applicable law. Trustnr also will pay any court costs, in addition to all other sums provided by
<br />law.
<br />Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
<br />POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers rrncl obligations of Trustee are part of this
<br />(
<br />
|