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201104912
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Last modified
9/14/2011 12:26:17 PM
Creation date
7/1/2011 4:37:30 PM
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DEEDS
Inst Number
201104912
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20�iO49�2 <br />(� Receiver. Beneficiary may apply for and obtain, without notice and upon ex parte application, the <br />appointment of a receiver for the Mortgaged Property without regard to Trustor's financial condition or solvency, the <br />adequacy of the Mortgaged Property to secure the payment or performance of the Obligations, or the existence of <br />any waste to the Mortgaged Property. <br />(g) Foreclosure. Beneficiary may foreclose this Deed of Trust. <br />(h) Power of Sale. Subject to compliance with the Nebraska Trust Deeds Act (Nebraska Rev. Stat. <br />76-1001, et seq.) authorize and empower Trustee to fix the day, time, and place of sa1e, to sell the Mortgaged <br />Property and all estate, right, title and interest, claim and demand therein, and right of redemption thereof, at one or <br />more sales as an entirety or in pazcels; said sale to be by public outcry to the highest bidder for cash or cash <br />equivalent pursuant to the power of sale granted in the Nebraska Trust Deeds Act (Nebraska Rev. Stat. 76-1001, et <br />seq.). Beneficiary may bid at said sale and purchase said Mortgaged Property, or any part thereof, as the highest <br />bidder therefor. At the foreclosure sale the Mortgaged Properiy may be offered for sale and sold as a whole without <br />first offering it in any other manner or tnay be offered for sale and sold in any other manner Trustee may elect. The <br />Trustee shall have full power to conduct any sale through an agent appointed by the Trustee for the purpose, but said <br />appointment of agent need not be recorded; <br />(i) Set-off. Beneficiary may set-off Trustor's Obligations against any amounts due by Beneficiary to <br />Trustor including, but not limited to, monies, instruments and deposit accounts maintained with Beneficiary. <br />(j) ' Collateral. Beneficiary may exercise a11 rights against the Collateral allowed a secured party <br />under the Uniform Commercial Code or other applicable law, including without limitation to sell the Collateral or <br />any part thereof at public or private sale, for cash, upon credit or for future delivery, at such price or prices as <br />Beneficiary may deem satisfactory, and in connection with any such sale, Trustor hereby agrees that ten (10) days' <br />prior written notice of the time and place of any such sale or other intended disposition of any of the Collateral <br />consritutes "reasonable notification" within the meaning of applicable provisions of the Uniform Commercial Code, <br />except that shorter or no notice sha11 be reasonable as to any Collateral which is perishable or threatens to decline <br />speedily in value or is of a type customarily sold on a recognized market. Beneficiary may proceed under this Deed <br />of Trust solely as to the real property interests, or solely as to the personal property interests, or as to both the real <br />and personal property interests in accordance with its rights and remedies in respect of the real property interests. <br />(k) Lawsuits. Beneficiary may institute suits for collection of the Obligations, the specific <br />performance of any covenant or agreement herein contained or ia aid of the execution of any power herein granted. <br />Beneficiary may commence an action against Trustor under Nebraska law for the recovery of any balance due under <br />the Credit Documents which was not retired as a result of the exercise of any foreclosure proceedings or the power <br />of sale granted herein. <br />(I) Termination of Commitment to Lend. Beneficiary may terminate any commitment or obligation <br />to lend or disburse funds under any Credit Document. <br />(m) Other Rights and Remedies. Beneficiary may exercise any and all other rights and remedies <br />which Beneficiary may have under the Credit Documents, under applicable law or otherwise. <br />The enumeration of the availability of specific remedies in the event of default shall not impair the demand <br />nature of any of the Obligations which by its terms or otherwise is payable on demand. Beneficiary's rights are <br />cumulative and may be exercised together, separately and in any order. In the event that Beneficiary institutes an <br />action seeking the recovery of any of the Mortgaged Property by way of a preyudgment remedy in an action against <br />Trustor, Trustor waives the posting of any bond which might otherwise be required. <br />Section 5.2 Proceeds of Foreclosure. Subject to applicable law, the proceeds of any sale held at the <br />instance of the Beneficiary in foreclosure of the liens and security interests evidenced hereby shall be applied in <br />such order or priority as the Beneficiary may elect, in its sole discretion, which may include the application thereof <br />in accordance with the following: FIRST, to the payment of all necessary costs and expenses incident to such <br />foreclosure sa1e, including but not limited to all reasonable attorneys' fees and legal expenses, all court costs, <br />DOCS/1045495.1 14 <br />
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