Laserfiche WebLink
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
` �' �'� �'' DEED O� TRUST 2 010 0 7 6 91 <br />Loan Nn: 122270 (Continued) Page 4 <br />Payment �efeult. Trustor fails to make any payment when due under #he Indabtedness. <br />Break Qther Promises. Trustor breaks any promise made to Lender or fails to perform promptly at the time and strictly in #he mannar <br />provided in this �eed of Trust or in eny agreement releted to this Deed of Trus#. <br />Compliance �efault. Failure to comply with any other term, obligatinn, cpvenent or cpndition contained in this f�eed of 1`rust, the Note <br />or in eny qf tha Ralated Documents. <br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to meke eny payment for taxes or <br />insurance, or any o#her payment necessary to prevant filing pf pr to effect discharge of any lien. <br />False Statements. Any representation or statement mada or furnished to Lender by Trustor or on Trustor's behalf under this Deed of <br />Trust or the Related Documents is false or misleading in any material respect, either now or at the time mede or furnishad. <br />Defective Collateralization. This Deed of Trust or any of the Related Documents csesea to be in full fprca and effect (including failure <br />af eny colleteral document to create e velid and perfacted security interest or lien) at any time and for any reason. <br />Death or Insolvency. The desth of Trustor, the insolvency of Trustor, the appointment of a receiver for any part af Trustor's property, <br />any assignment for the benefit of creditors, any type of creditor workput, or the commencement of any proceeding under any <br />bankruptcy or insolvency laws by or against trustor. <br />Taking of the Property. Any creditor ar governmental agency tries to take any of the Property or any qther of Trustor's prnperty in <br />which Lender hss e lien. 7his includes taking of, garnishing of or levying on Trustor's accounts with Lender. However, if Trustor <br />disputes in good faith whether the claim on which the taking of the Property is besed is valid or reasonable, and if Trustor gives <br />Lender written notice of the claim and furnishes Lender with monies or e surety bond sstisfactory to Lender to satisfy the claim, then <br />this default provision will not apply. <br />Breach of Other Agreement. Any breach by Trustor under the terms of eny other egreement betwean Trustor and Lender that is not <br />remedied within any graoa perind prnvided therein, including without limitation any agreement cancerning any indebtedness or other <br />obligation of Trustor tp Lender, whether existing now or Ister. <br />Events Affecting Guerantar. Any of the praceding avents occurs with respect to any guarantor, endorser, surety, or accommndation <br />party of any af the Indebtedness or any guarantor, andnrser, sursty, or accommodation party dies or becomes incompetent, or <br />ravokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. <br />Insecurity. Lender in good faith believes itself insecure. <br />Existing Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is not mede within the <br />time required by the promissory note evidencing such indebtedness, or a defaulY occurs under the instrument securing such <br />indebtedness and is not cured during any applicable grece peripd in such instrument, or any suit or other action is commenced to <br />foreclose any existing lien on the Property. <br />Ftight to Cure. If any default, other than a default in payment is cura6le and if Trustor has not been given a notica of e breach of the <br />same provision of this Deed of 7rust within the preceding twelve (12► months, it may be cured it Trustor, after Lender senda written <br />natice tn Trwstpr demanding cure of such default: (1) cures the default within fifteen (15) days; or (2) if the cure requires more than <br />tifteen (15) days, immsdietely ini#iates steps which Lendsr deema in Lender's sqle discretion to be sufficient to cure the default and <br />thereafter continues and completes all reasonable and necessary steps sufficient to produce complience es spon as reasonably <br />practical. <br />FtIGM7S ANq REMEDIES ON D@FAULT. If an Event of Default occurs under this Deed af Trust, at any time thereafter, Trustee or Lender <br />mey exercise any one nr mnre of the fqllowing rights and remedies: <br />Acaeleretion Upon Defauk; Additional Hemedles. If any Event of Default occurs as per the terms of the Ndfe secured hereby, <br />Lender mey declare all Indebtedness secured by this Deed of 7rust to be due and payable and the same shall thereupon become <br />due and payeble without eny presentment, demand, protest or notice of any kind. Tharaafter, Lender may: <br />�a) Either in persnn or by agent, with ar wi#hout bringing any action or proceeding, or by a receiver appointed by a court and <br />without regard ta the adequacy of its security, enter upon and take possession of the Property, or any part theranf, in its <br />own name or in the name of Trustee, and do any acts which it deems necessary ar desirable to preserve the value, <br />markstability or rentability nf the Praperty, ar pert of the Property or interest in the F'roperty; increase the income from the <br />Property or protect the security of the Property; and, wi#h or wfthout taking pnssession of the Property, sue for or otherwise <br />collect the rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less cpsts and <br />expenses of operation and collection attorneys' fees, to any indebtedness 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 #he application therepf shall not cure or waive eny defeult or notice of default under this qeed of Trust or <br />invalidate any act done in response to such default or pursuant to such notice of defeult; and, notwithstanding tha <br />continuance in possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or <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 defeult, including the right to exercise #he power of sale; <br />(b) Commence an ac#ion to foreclose this Deed of Trust as a mortgege, appoint a recaiver pr specificelly enfprce any of the <br />covenants hereof; and <br />(c) Deliver to Trustee a written declaration of default and demand for sale and a written notice 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 for record in the <br />appropriate offices of tha County in which the Prqperty is Ipcated; end <br />�d) With respect to all or any pert af the Parsonel Property, Lsnder shell heve all the rights and r9msdiss pf a sacurad psrty <br />under the Nebraska Uniform Commercial Code. <br />Foraclosure hy Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained, Lender shall notify <br />Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and <br />sacured by this Daed of 7rust es 7rustee may require. <br />(a) Upon receipt nf such notice frnm Lender, Trustee shall cause ta be recorded, published and delivered to Trustor such <br />Notice of Default and Notice of Sale as then requ(ced by I�w and by this Deed of Trust. Truetee shall, without demand on <br />Trustor, after such time as may then be required by law and af[er recordatipn of auch Notice of Defeult and after Notica 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 percels or items as Trustee shall deem expedient, and in such order as it may <br />dstermine, at public euction to the highas# bidder fpr cesh in lawful money nf the United States psyeble at the time of sale. <br />Trustee shall deliver ta such purchaser or purchasers thereof its good and sufficient deed or deeds conveying the property so <br />sold, but without any covenant or warranty, express or implied. 'The recitals in such deed of any matters or facts shall be <br />conclusive prqof of the truthfulness thersof. Any psrson, including withaut limitstian Truator, Trustee, or Lendsr, may <br />purchase at such sale. <br />(b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, including costs of <br />evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of (i) all sums expended under <br />the terms of this Deed of Trust or under the terms of the Note not then repaid, including but not limited to accrued interest <br />end I�te charges, (ii) all other sums then secured hsr�by, snd (iii) the remeinder, if eny, tn the person or persnns legally <br />entitled thereto. <br />(c) Trustee may in the manne� provided by law postpone sale of all or any portion of the Property. <br />Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and performar�ce of any <br />indebtedness or obligations secured by this beed af 7rust and to exercise all rights snd powers under this Deed of Trust, under the <br />Note, under any of the Relatad Donuments, or under any other egreement or any laws now or hereafter in force; notwithstanding, <br />