|
�, � � � , ' ` "' °� � y `'`a DEED OF TRUST
<br />Loan No: 101241091 � (Continued) 2 01 i 0 3 6 9 2 page 6
<br />and thereafter continues and completes ail reasonable and necessary steps sufficient to produce compliance as soon as reasonably
<br />prectical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender
<br />may exercise any one or more of the following rights and remedies:
<br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Note secured hereby,
<br />Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become
<br />due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a rece(ver appointed by a court and
<br />without regard to the adequacy of its security, enter upon and teke possession of the Property, or any pert thereof, in its
<br />own name or in the name of Trustee, end do any acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentebility of the Property, or part of the Property or 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 the Property, including those past due and unpaid, and epply the same, less costs end
<br />expenses of operation end collection attornays' fees, to eny indebtedness secured by this Deed of Trust, all in such order as
<br />Lender mey determine. The entering upon and teking possession of the Property, the collection of such rents, issues end
<br />profits, and the applicetion thereof shall not cure or waive any default or notice of default under this Deed of Trust or
<br />invalidate any act done in response, to such default or pursuant to such notice of default; and, notwithstending the
<br />continuance in possession of the Property or the collection, receipt and applicetion of rents, (ssues or profits, Trustee or
<br />Lender shall be entitled to exercise every right provided for in the Note or the Related Documents or by lew upon the
<br />occurrence of any event of default, including the right to exercise the power of sale;
<br />(b) Commence en action to foreclose this Deed of Trust as a mortgage, appoint a receiver or speclfically enforce eny of the
<br />covenents 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 shell cause to be duly filed for 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, Lender shall have ell the rights end remedies of a secured party
<br />under the Nebraske Uniform Commercial Code.
<br />Foreclosure by Power of Sale. If Lender electa to foreclose by exercise of the Power of Sale here(n contained, Lender shall notify
<br />Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence af expenditures made end
<br />secured by this Deed of Trust as Trustee mey require,
<br />(a) Upon receipt of such notice from Lender, Trustee shall cause to be recorded, published and delivered to Trustor such
<br />Notice of Default and Notice of Sale as then required by law and by this Deed of Trust. Trustee shell, without demand on
<br />Trustor, aftar such time as may then be required by law and after recordation of such Notice of Defeult 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 separete lots or parcels or items as Trustee shall deem expedlent, end in such order es it may
<br />determine, at public auctton to the highest bidder for cash in lewful money of the United States payable at the time of sale.
<br />Trustee shall delivar to such purchaser or purchasers thereof its good and suffic(ent deed or deeds conveying the property ao
<br />sold, but without eny covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br />purchase et 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 repeid, including but not limited to accrued interest
<br />and late charges, (ii) ali other sums then secured hereby, and (iii) the remainder, if any, to the person or persons legally
<br />entitled fhereto. '
<br />(c) Trustee mey in the manner provided by law postpone sale of all or any portion of the Property.
<br />Remedies Not F�cclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and performance of any
<br />indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powers under this Deed ot Trust, under the
<br />Note, under any of the Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding,
<br />some or all of such indebtedness and obligetions secured by this Deed of Trust may now or hereafter be otherwise secured, whether
<br />by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement,
<br />whether by court action or pursuent to the power of sale or other powers contained in this Deed of Trust, shall prejudice or in any
<br />manner effect 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 them, shell be entitled to enforce this Deed of Trust and any other security now or
<br />hereafter held by Lender or Trustee in such order and manner as they or either of them mey in their absolute discretion determine. No
<br />remedy conferred upon or reserved to Trustee or Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by
<br />law provided or permitted, but eech shall be cumulative and shall be in addition to every other remedy given in this Deed of Trust or
<br />now or hereafter existing at law or in equity or by stetute. Every power or remedy given by the Note or any of the Related Documents
<br />to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised, concurrently or independently, from time
<br />to time and as often es may be deemed expedient by Trustee or Lender, and either of them may pursue inconsistent remedies.
<br />Nothing in this Deed of Trust shall be construed as prohibiting Lender from aeeking a deficiency Judgment egainst the Trustor to the
<br />extent such actfon is permitted by law. Election by Lender to pursue eny remedy shall not exclude pursuit of any other remedy, and
<br />an election to make expenditures or to take action to perform en obligation of Trustor under this Deed of Trust, after Trustor's failure
<br />to perform, shaii not affect Lender's right to declare a default and exercise its remedies.
<br />Request for Notice. Trustor, on behalf of Trustor end Lender, hereby requests thet a copy of any Notice of Default and a copy of any
<br />
|