|
DEED OF TRUST ��� 10 6 2 9 G
<br />Loan No: 101244�92 (Continued) Page 7
<br />Rlght to Cure. If any default, other than e default in payment is cureble and if Trustor has not been given a notice
<br />of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if
<br />Trustor, after Lender sends written notice to Borrower demanding cure of such default: i1) cures the defeult
<br />within flfteen (15) days; or (2) if the cure requires more then fifteen (15) days, immediately initiates steps which
<br />Lender deems in Lender's sole discretion to be sufficient to cure the defeult and thereafter continues end
<br />completes all reasonable and necessery steps sufficient to produce compliance as soon es reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter,
<br />Trustee or Lender mey exercise any one or more of the following rights and remedies:
<br />Acceleretion Upon Default; Additlonal Remedies. If any Event of Default occurs es per the terms of the Note
<br />secured hereby, Lender mey dectere all Indebtedness secured by this Deed of Trust to be due and payable and
<br />the seme shell thereupon become due end payable without any presentment, demand, protest or notice of eny
<br />kind. Thereafter, Lender may:
<br />(a) Either in person or by egent, with or without bringing any action or proceeding, or by e receiver
<br />appointed by a court end 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 neme of Trustee, and do eny acts which it
<br />deems necessery or desirable to preserve the velue, marketability or rentability of the Property, or part of
<br />the Properry or interest in the Property; increase the income from 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 proflts of the Property, including those past due and unpaid, and apply the same, lesa
<br />costs and expenses of operetion and collection ettorneys' fees, to eny indebtedness secured by this Deed
<br />of Trust, atl in such order as Lender may determine. The entering upon and taking possession ot the
<br />Property, the collection of such rents, issues and profits, end the applicetion thereof shall not cure or
<br />waive any defeult 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 possession of
<br />the Property or the collection, receipt and appflcation of rents, issuea or profits, Trustee or Lender shall
<br />be entitled to exercise every r(ght provlded for in the Note or the Releted 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 thia Deed of Trust es a mortgage, appoint a receiver or spacifically
<br />enforce any of the covenents hereof; and
<br />(c) Deliver to Trustee a written declaration of default end demand for sale and a written notice of default
<br />end election to cause Trustor's interest in the Property to be sold, which notice Trustee shall ceuse to be
<br />duly filed for record in the approprlate offices of the County in which the Property is loceted; end
<br />(d) With respect to all o� any part of the Personal Property, Lender shall have all the rights and remedies
<br />of a secured party under the Nebraska Uniform Commerciel Code.
<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sele herein conteined,
<br />Lender shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts
<br />and evidence of expenditures made and secured by this Deed of Trust as Trustee mey require.
<br />(a) Upon receipt of such notice from Lender, Trustee shall ceuse to be recorded, published and delivered
<br />to Trustor such Notice of Defeult and Notice of Sale es then required by law and by this Deed of Trust.
<br />Trustee shall, without demand on Trustor, after such time as may then be required by lew and efter
<br />recordation of such Notice of Defeult and after Notice of Sele having been given as required by law, sell
<br />the Property at the time and place of sele flxed by it in such Notice of Sale, either as a whole, or in
<br />separate lots or parcels or items as Trustee 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 Stetes payable at the time
<br />of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or
<br />deeds conveying the properry so sold, but without eny covenant or warranty, express or implied. The
<br />recitals in such deed of any matters or facts shell 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, efter deducting ell costs, fees and expenses of Trustee and of this
<br />Trust, including costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale
<br />to payment of (i) all sums expended under the terms of this Deed of Trust or under the terms of the Note
<br />not then repeid, including but not limited to accrued interest and late cherges, Ui) all other sums then
<br />secured hereby, and (ili) the remainder, if any, to the peraon or persons legally entitled thereto.
<br />(c) Trustee may in the manner provided by law postpone sale of all or eny portion of the Property.
<br />Remedies Not Exclus(ve. Trustee and Lender, and each of them, shell be entitled to enforce payment and
<br />performence of any indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powers
<br />under this Deed of Trust, under the Note, under any of the Related Documents, or under eny other agreement or
<br />eny laws now or hereafter in force; notwithstanding, some or ell of such indebtedness and obligations secured by
<br />this Deed of Trust mey now or hereafter be othervvisa secured, whether by mortgage, deed of trust, pledge, lien,
<br />essignment or otherwise. Neither the acceptence of this Deed of Trust nor its enforcement, whether by court
<br />ection or pursuent to the power of sale or other powers conteined in this Deed of Trust, shatl prejudice or in any
<br />
|