Laserfiche WebLink
201102583 <br />4. In the event Trustor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or <br />maintain any insurance on the property, buildings, fixtures, attachments, or improvements as provided <br />herein or in the loan agreement(s), Beneficiary, at its option, may make such payments or provide <br />insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal <br />indebtedness secured hereby, be immediately due and payable and bear interest at the default rate <br />provided in the Note(s) from the date of payment until paid. The advancement by Beneficiary of any such <br />amounts will in no manner limit the right of Beneficiary to declare Trustor(s) in default or exercise any of <br />Beneficiary's other rights and remedies. <br />5. In the event Beneficiary is a party to any litigation affecting the property or the lien of this Trust Deed, <br />including any action by Beneficiary to enforce this Trust Deed or any suit in which Beneficiary is named a <br />defendant (including condemnation and bankruptcy proceedings) Beneficiary may incur expenses and <br />advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs, expenses, <br />appraisal fees, and other charges and any amounts so advanced will become part of the principal <br />indebtedness secured hereby, be immediately due and payable and bear interest at the default rate <br />provided in the Note(s) from the date of advance until paid. <br />6. Any awards made to Trustor(s) or their successors by the exercise of eminent domain are hereby <br />assigned to Beneficiary; and Beneficiary is hereby authorized to collect and apply the same in payment of <br />any indebtedness, mature or unmatured, secured by this Trust Deed. <br />7. In the event of default in the payment when due of any sums secured hereby (principal, interest, <br />advancements, or protective advances), or failure to perform or observe any covenants and conditions <br />contained herein, in the Note(s), or any other instruments, or any proceedings is brought under any <br />Bankruptcy laws, Beneficiary, at its option, may declare the entire indebtedness secured hereby to be <br />immediately due and payable and the whole will bear interest at the default rate as provided in the <br />Note(s) and Beneficiary may immediately authorize Trustee to exercise the Power of Sale granted herein <br />in the manner provided in the Nebraska Trust Deeds Act, or, at the option of the Beneficiary, may <br />foreclose this Trust Deed in the manner provided by law for the foreclosure of mortgages on real property, <br />including the appointment of a Receiver upon ex parte application, notice being hereby expressly waived, <br />without regard to the value of the property or the sufficiency thereof to discharge the indebtedness <br />secured hereby or in the loan agreement(s). Delay by Beneficiary in exercising its rights upon default will <br />not be construed as a waiver thereof and any act of Beneficiary waiving any specified default will not be <br />construed as a waiver of any future default. If the proceeds under such sale or foreclosure are <br />insufficient to pay the total indebtedness secured hereby, Trustor(s) do hereby agree to be personally <br />bound to pay the unpaid balance, and Beneficiary will be entitled to a deficiency judgment. <br />8. Should Beneficiary elect to exercise the Power of Sale granted herein, Beneficiary will notify Trustee <br />who will record, publish, and deliver to Trustor(s) such Notice of Default and Notice of Sale as then <br />required by law and will in the manner provided by law, sell the property at the time and place of sale <br />fixed in the Notice of Sale, either as a whole or in separate lots, parcels, or items and in such order as <br />Trustee will deem expedient. Any person may bid at the sale including Trustor(s), Trustee, or <br />Beneficiary. <br />9. Trustor(s) hereby requests a copy of any Notice of Default or Notice of Sale hereunder to be mailed by <br />certified mail to Trustor(s) at the address(es) set forth herein. <br />10. Upon default, Beneficiary, either in person or by agent, with or without bringing any action or <br />proceeding and with or without regard to the value of the property or the sufficiency thereof to discharge <br />the indebtedness secured hereby, is authorized and entitled to enter upon and take possession of the <br />property in its own name or in the name of the Trustee and do any acts or expend any sums it deems <br />necessary or desirable to protect or preserve the value of the property or any interest therein, or increase <br />the income therefrom; and with or without taking possession of the property is authorized to sue for or <br />otherwise collect the rents, issues, crops, profits, and income thereof, including those past due and <br />unpaid, and apply the same upon any indebtedness secured hereby or in the loan agreement(s) <br />No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any <br />other remedy herein or by law provided or permitted, but each will be cumulative, will be in addition to <br />every other remedy given hereunder or now or hereafter existing at law or in equity or by statute, and may <br />be exercised concurrently, independently or successively. <br />11. Trustor(s) acknowledges that the duties and obligations of Trustee will be determined solely by the <br />express provisions of this Trust Deed or the Nebraska Trust Deeds Act and Trustee will not be liable <br />except for the performance of such duties and obligations as are specifically set forth therein, and no <br />implied covenants or obligations will be imposed upon Trustee; Trustee will not be liable for any action by <br />it in good faith and reasonably believed by it to be authorized or within the discretion or rights of powers <br />conferred upon it by this Trust Deed or state law. <br />12. The integrity and responsibility of Trustor(s) constitutes a part of the consideration for the obligations <br />secured hereby. Should Trustor(s) sell, transfer, or convey the property described herein, without prior <br />written consent of Beneficiary, Beneficiary, at its option, may declare the entire indebtedness immediately <br />due and payable and may proceed in the enforcement of its rights as on any other default. <br />13. Assignment of Rents including Proceeds of Mineral Leases. Trustor(s) hereby assigns, transfers, <br />and conveys to Beneficiary all rents, royalties, bonuses, and delay moneys or other proceeds that may <br />from time to time become due and payable under any real estate lease or under any oil, gas, gravel, rock, <br />or other mineral lease of any kind including geothermal resources now existing or that may hereafter <br />come into existence, covering the property or any part thereof. All such sums so received by Beneficiary <br />will be applied to the indebtedness secured hereby; or Beneficiary, at its option, may turn over and deliver <br />to Trustor(s) or their successors in interest, any or all of such sums without prejudice to any of <br />Beneficiary's rights to take and retain future sums, and without prejudice to any of its other rights under <br />this Trust Deed. This assignment will be construed to be a provision for the payment or reduction of the <br />debt, subject to the Beneficiary's option as hereinbefore provided, independent of the lien on the property. <br />Upon payment in full of the debt and the reconveyance of this Trust Deed of record, this assignment will <br />become inoperative and of no further force and effect. <br />14. This Trust Deed constitutes a Security Agreement with respect to all the property described herein. <br />