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201007636
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Last modified
10/18/2010 2:47:30 PM
Creation date
10/18/2010 2:47:28 PM
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DEEDS
Inst Number
201007636
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2�100763G <br />interest in such collateral as security for the Obligations secured hereby and the Grantor will pay <br />the cost of filing or recording such financing statements or ather documents and this 5ecurity <br />Instrument; and ( fl the remedies of the Authority hereunder are cumulative and the exercise of <br />any one or more of the remedies provided for herein or under the Uniform Cammercial Code <br />shall not be construed as a waiver of any of the other rights of the Authority including having <br />such collateral deemed part of the realty upon any foreclosure thereof. <br />24. Grantor has agreed and does covenant and agree that the Subaward shall become <br />due, at the option af the Authority, upon failure of Grantor of the herein described Premises to <br />comply with any law of the State of Nebraska or with the requirements of any ordinance, <br />condition, rule, regulation of any department of the city and county in which the Property is <br />situated relating to the mortgaged property or any part thereof within thirty (3�) days after notice <br />of such requirement shall have been given to Grantar by the Authority, unless a longer period af <br />time is needed to correct such matter and Grantor diligently prasecutes the completion af such <br />requirement and such governmental body extends the time period ta cure such requirement. <br />25. Each of the following shall be an event of default under this Recapture Deed of <br />Trust (each, an "Event of Default"): <br />(a) Grantar's failure to pay (i) any Obligations when due thereunder or (ii) <br />any other surns due under this Recapture Deed of Trust or otherwise secured by this <br />Recapture Deed of Trust; <br />(b) Grantor's failure ta perform or observe any covenant ar agreement <br />contained in this Recapture Deed of Trust, the 1602 Agreement ar the other 1602 <br />Documents; <br />(c) if the Property is materially destroyed by �re or other causes and the <br />insurance procesds and other proceeds available to Grantor are insufficient to repair and <br />complete the rebuilding of the Praperty; or <br />(d) if Grantor fails to comply with any requirement of any governmental <br />authority having jurisdiction over the Property within thirty (30) days after written notice <br />of such requirement shall have been given to Grantor; or <br />(e) Grantor shall: <br />(i) have an order for relief entered with respect to it under any law <br />relating to bankruptcy, insolvency, reorganization or relief of debtors <br />("Bankruptcy Law"); <br />(ii) not pay, or adrnit in writing its inability to pay, its debts generally <br />as they become due; <br />(iii) rnake an assignment for the bene�t of its creditors; <br />15 <br />Recapture Deed of 7rust and Security Agreement <br />4848-2546-7143.3 <br />
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