|
DEED OF TRUST
<br />Loan No: 101242936 (Continued) � Q 1� v���� page 6
<br />RIGHTS AND REMEDIES ON DEFAlILT. If an Event of Default occurs under this Deed of Trust, at any time thereafter,
<br />Trustee or Lender 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
<br />secured hereby, Lender mey declare all Indebtedness secured by this Deed of Trust to be due and payabie and
<br />the same shall ihereupon become due and payable without any presentment, demand, protest or notice of any
<br />kind. Thereafter, Lender may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br />appointed by a court and without regard to the adequacy of its security, enter upon and take possession
<br />of the Property, or any part thereof, in its own name or in the name of Trustee, and do any acts which it
<br />deems necessary or desirable to preserve the value, marketability or rentebility of the Property, or part of
<br />the Property or interest in the Property; increase the income trom the Property or protect the security of
<br />the Property; and, with or without taking possession of the Property, sue for or otherwise collect the
<br />rents, issues and profits of the Property, including those past due and unpaid, and epply the same, fess
<br />costs and expenses ot operation and collectiot� atiorneys' fees, to any indebtedness secured by this Deed
<br />of Trust, all in such order as Lender may determine. The entering upon and taking possession of the
<br />Property, the collection of such rents, issues and profits, and the application thereof shall not cure or
<br />waive any default or notice of default under this Deed of Trust or invalidate any act done in response to
<br />such default or pursuant to such notice of default; and, notwithstanding the continuance in possessibn of
<br />the Properry or the coffection, receipt end application of rents, issues or profits, Trustee or Lender shall
<br />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 default, including the right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically
<br />enforce any of the covenartts hereot; and
<br />(c) Deliver to 7rustee a writtan declaration of default and demand for sale and a written notice of defeult
<br />and election to cause 7rustor's interest in the Property to be sold, which notice Trustee shall ceuse to be
<br />duly filed for record in tha appropriate offices of the County in which the Property is located; and
<br />(d) With respect to all or any part oF the Persohal Property, Lender shail have all the rights and remedies
<br />of a secured party under the Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sele. If Lender elects to foreclose by exercise of the Power of Sale herein contained,
<br />Lender shell notify Trustee and shall deposit with Trustee this beed of Trust end the Note and such receipts
<br />and evidence of expenditures made and secured by this Qeed of Trust as Trustee may require.
<br />ia) Upon receipt of such notice from Lender, Trustee shall cauae to be recordad, publishad and delivered
<br />to Trustor such IVotice of befault and Notice of Sale as therl required by law and by this Deed of Trust.
<br />Trustee shall, without demarld on Trustor, after such time as may then be required by law and after
<br />recordation of such Notice ot DefaulY and after Notice of Sale having been given as required by law, sell
<br />the Property at the time and place of sale fixed by it in such Notice of Sele, either es a whole, or in
<br />separate lots or parcels or items as 7rustee shall deem expedient, and in such order as it may determine,
<br />at public auction to the highest bidder for cash in lawful money of the United States payable at the tirrle
<br />of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or
<br />deeds conveying the property so sold, but without any covenant or warranty, express or implied. The
<br />recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
<br />person, including without limitation Trustor, Trustee, or Lender, may purchase at such sale.
<br />(b) As may be permitted by law, after deducting all costs, fees and expehses of Trustee and of this
<br />Trust, including costs of evidence of title in con�lection with sale, Trustes shall apply the proceeds of sale
<br />to peyment of (i) all sums expentled under the tsrms of this Deed of Trust or under the terms of the Note
<br />not then repaid, including but not limited to accrued interest and late charges, (ii) all other sums then
<br />secured hereby, and (iii? the remainder, if any, to the person or persons IegaUy entitled thereto.
<br />(c? Trustee may in the manner 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
<br />performance of any indebtedness or obligations secured by this Deed of 7rust a�d to exercise all rights and powers
<br />under tF�is Deed of Trust, ur�der the Note, under any of the Related Documents, or under any other egreement or
<br />any laws now or hereafter in force; notwithstanding, some or all of such indebtedness and obligations secured by
<br />this Deed of 7rust may now or hereafter be ot�ierwise secured, whether by mortgage, deed of trust, piedge, lien,
<br />assignment or otherwise. Neither the acceptance of this Deed Of Trust nor its entorcement, whether by court
<br />action or pursuant to the power of sale or other powers contained ih this Deed of Trust, shall prejudice or in any
<br />manner affect Trustee's or Lender's right to realize upon or eriforce any other security now or hereafter hefd by
<br />Trustee or Lender, it being agreed that Trustee and Lender, and each of them, shall be entitled to enforce this Deed
<br />of firust and eny other security now or hereafter held by Lender or Trustee in such order and manner as they or
<br />either of them may in their absolute discretion determine. IVo remedy conferred upon or reserved to Trustee or
<br />Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by lew provided or permitted, but
<br />each shall be cumulative and shall be in addition to every other remedy given in this Deed of Trust or now or
<br />hereafter existing at law or in equity or by statute. Every power or remedy given by the Note or any of the Related
<br />
|