|
`` DEED OF TRUST 2 Q i � � 7 9 s 2
<br />l.oan No: 101235634 1Continued) Page 6
<br />Existing Indebtedness. The payment nf eny installment of principal or any interest on the Existing Indebtedness is not made within the
<br />time required by the promissory note evidencing such indebtedness, or a default occurs under the instrument securing such
<br />indebtedness and is not cured during any applicable grace periad in such instrument, nr any suit nr other action is commenced to
<br />foreclose any existing lien on the Prpperty.
<br />Right to Cure: If any default, other than a defeult in payment is cureble end if Trustor hes not been given a notice of a breach of the
<br />same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if 7rustor, after Lender sends written
<br />notice ta Borrawer demanding cure of such default: (1) cures the default within fifteen (16) days; or (2) if the cure requires more
<br />than fifteen (15) days, immediately initiates steps which Lender deems in l.ender's sale 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 reasonahly
<br />practical.
<br />RIGH7S ANp REMEDIES ON DEFAULT. If sn Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender
<br />may exercise eny one or more of the following rights and remedies:
<br />Acpelaratian Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of tha Npte secured hereby,
<br />Lender may declare all Indebtedness secured by this Dead of Trust to be due and payabie end the same shall thereupon become
<br />due and payable without any presantment, demand, protest or notice of any kind. 7hereafter, Lender may:
<br />(a) Either in persan or by agent, with or without bringing any action or proceeding, or by s recaiver appointed by a npurt and
<br />without regard to the adequacy of its security, anter upon and take possession af the Property, or any part thereof, in its
<br />awn name or in the name of Trustaa, and do any acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentability af the Property, or part of the Property or interest in the Property; increase the income from the
<br />Prnperty or protect the security of the Property; and, with or without taking possession of the Property, sue for or otherwise
<br />collect tha rents, issues and profits of the F'rbperty, including those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection attorneys' fees, ta any indebtedness secured 6y this Deed of trust, all in such order as
<br />Lender may determine. The entering upon and taking possession of the I'roperty, the collection of such rents, issues and
<br />profits, and the application thereof shell not cure or waive any default or notice of default under this Deed of Trust ar
<br />invalidate any act dane in response to such default or pursuant to such notice of default; and, notwithstanding the
<br />continuance in possession of the Property or the collection, receipt and applicatian of rents, issues or profits, Trustee or
<br />Lender shall be entitled to exercise every right provided for in the Note or the Related bocuments or by law upan the
<br />occurrence of any event of defeult, including the right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Daed of Trust as a mortgage, appoint a receiver or specifically enforce any pf the
<br />covenants hereof; and
<br />Ic1 Deliver to Trustaa e written declaration of default and demand for sale and s written notice of default and election to
<br />cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to k�e duly filed for recnrd in the
<br />appropriate offices of the County in which the Property is located; and
<br />(d) With respect ta all qr eny pert of the Personal Property, Lender shall have all the rights and remadies of e secured party
<br />under the Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sale. If Lender elects to foreclosa by exercise of the Power of Sale herein contained, Lender shali notify
<br />1"rustee and shall deposit with Trustae this Deed of Trust and the Note and such receipts and evidence nf expendituras made end
<br />secured by this peed of Trust as Trustee may require.
<br />(a) Upon receipt af such notice from Lender, 7rustee shall cause to be recnrded, published and delivered to Trustor such
<br />Nptice of Default and Notice of Sale as then required by law and by this Deed pf Trust. Trustee shell, without demand on
<br />Trustor, after such time as may then be requirsd by law and after recordation of such Natice of qefault and after Notice af
<br />Sale having been given as required by law, sall the Prpperty at the time and place of sale fixed by it in such Notice nf Sale,
<br />either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may
<br />- - determine, at pubtie auctian ta the highesTbidder fi�r cas�iln lewfutmoney ofthe United 5tates payable at the time af sate.
<br />7rustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds convaying the prnperty sa
<br />sold, but without any covenant or warranty, express or implied. Tha recitals in such deed of any matters or facts shall be
<br />conclusive proof of tha truthfulness thereof. Any person, including without limitation trustor, 7rustee, or Lender, may
<br />purchase at such sale.
<br />(6) As may be permitted by law, after deducting all costs, fees and expenses of Trustee end 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 af Trust ar under the terms of the Note not then repaid, including but not limited to accrued interest
<br />and late charges, (ii) all other sums then secured hereby, and (iii) the remainder, if any, to the person or persons legally
<br />entitlad theretp.
<br />(c) Trustee may in the manner provided by law postpone sale of all or any portion of the Praperty.
<br />Remedies Not Exclusive. Trustee end Lender, and each of them, shall be entitled to enforce payment and perFormance of eny
<br />inde6tedness ar obligations secured by this C7eed of Trust and to exercise all rights and powers under this Deed of Trust, under the
<br />Note, under any of the Related Documents, ar under any other agreement or eny lews now or hereafter in force; notwithstanding,
<br />some or all of such indebtadness and obligations secured 6y this Deed af Trust may now or hereafter be otherwisa secured, whether
<br />by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Truat nor Its enforcement,
<br />whether by court action or pursuant to the power of sale pr pther powers contained in this Deed of Trust, shall prejudice or in any
<br />mannar affact Trustee's or Lender's right to realiae upon or enforce any other security now or hereafter held by Trustee nr I.ender, it
<br />being agreed that Trustee and Lender, and each af them, shall be entitled to enforce this Deed of Trust end eny other security now or
<br />hereafter held by Lender or Trustee in such order and manner as they pr either nf them may in their absolute discretion determine. No
<br />remedy conferred upan or reserved ta Trustee ar Lender, is intended to be exclusive of any other remedy in this Deed of 1'rust or by
<br />law provided or permitted, but each shall be cumulative and shall 6e in addition to every other remedy given in this Deed of Trust or
<br />
|