|
DEED OF TRUST
<br />(Continued)
<br />�011U�4''�1
<br />0
<br />Page 5
<br />Borrower's or Trustor's property in which Lender has a lien. This includes taking of, gamishing of r levying on
<br />Borrower's or Trustor's accounts with Lender. However, if Borrower or Trustor disputes in good fait whether the
<br />claim on which the taking of the Property is based is valid or reasonable, and if Borrower or Trustor gives Lender
<br />written notice of the claim and furnishes Lender with monies or a surety bond satisfactory to Lender o satisfy the
<br />claim, then th(s default provision will not apply.
<br />Breach of Other Agreemen� Any breach by Borrower or Trustor under the terms of any other agreenhent beiween
<br />Borrower or Trustor and Lender that is not remedied within any grace period provided therein, incl ding without
<br />limitation any agreement conceming any indebtedness or other obligation of Bonower or Trust�r to Lender,
<br />whether existing now or later. . '
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endbrser, surety,
<br />or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommbdation party
<br />dies or becomes incompetent, or revokes or disputes the validity of, ar liability under, any Gu�ranty of the
<br />Indebtedness.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Exis4ing Indebtedness.` The payment of any installment of principai or any interest on the Existing indebtedness is
<br />not made within the time required by the promissory note evidencing such indebtedness, or a default occurs under
<br />the instrument securing such indebtedness and is not cured during any applicable grace period in suc� instrument,
<br />or any suit or other action is commenced to foreclose any existing lien on the Property.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any tir�e thereafter,
<br />Trustee or Lender may exercise any one or more of the following rights and remedies: I
<br />Acceleration Upon Default; Additlonal Remedies. If any Event of Default occurs as per the term of the Note
<br />secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due an � payable and
<br />the same shall thereupon 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
<br />appointed by a court and without regard to the adequacy of its security, enter upon and tal
<br />of the Property, or any part thereof, in its own name or in the name of Trustee, and do any
<br />deems necessary or desirable to preserve the value, marketabiliry or rentability of the Prope
<br />the Property or interest in the Property; increase the income from the Property or protect t
<br />the Property; and, with or without taking possession of the Property, sue for or otherwi:
<br />rents, issues and profits of the Property, including those past due and unpaid, and appiy tl
<br />costs and expenses of operation and collection attomeys' fees, to any indebtedness securec
<br />of Trust, all in such order as Lender may determine. The entering upon and taking pos:
<br />Property, the collection of such rents, issues and proflts, and the application thereof sha
<br />waive any default or notice of default under this Deed of Trust or invalidate any act done i
<br />such default or pursuant to such notice of default; and, notwithstanding the continuance in
<br />the Property or the collection, receipt and application of rents, issues or profits, Trustee o
<br />be entiUed to exercise every right provided for in the Note or the Related Documents or by
<br />occurrence of any event of default, including the right to exercise the power of sale;
<br />�y a receiver
<br />e possession
<br />acts which it
<br />rty, or part of
<br />ie security of
<br />e collect the
<br />�e same, less
<br />by this Deed
<br />�ssfon of the
<br />I not cure or
<br />i response to
<br />�ossession of
<br />• Lender shall
<br />law upon the
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver br specifically
<br />enforce any of the covenants hereof; and
<br />(c) Deliver to Trustee a written declaration of defau'It and demand for sale and a written notice of default
<br />and election to cause Trustor's interest in the Property to be sold, which notice Trustee sh�ll cause to be
<br />duly filed for record in the appropriate offices of the County in whicM the Property is located� and
<br />(d) With respect to all or any part of the Pe�sonal Property, Lender shall have all the rights and remedies
<br />of a secured party under the Nebraska Uniform Commercial Code. I
<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale her$in contained,
<br />Lender shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and I receipts
<br />and evidence of expenditures made and secured by this Deed of Trust as Trustee may require.
<br />(a) Upon receipt of such notice from Lender, Trustee shall cause to be recorded, published
<br />to Trustor such Notice of Defauit and Notice of Sale as then required by law and by this [
<br />Trustee shall, without demand on Trustor, after such time as may then be required by
<br />recordation of such Notice of Default and after Notice of Sale having been given as require
<br />the Property at the time and place of saie fixed by it in such Notice of Sale, either as s
<br />separate lots or parcels or items as Trustee shall deem expedient, and in such order as it rr
<br />at public auction to the highest bidder for cash in lawful money of the United States payat
<br />of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and suff
<br />deeds conveying the property so sold, but without any covenant or warranty, express or
<br />recitals in such deed of any matters or facts shall be conctusive proof of the truthfulness
<br />person, including without Umitation Trustor, Trustee, or Lender, may purchase at such sale.
<br />and delivered
<br />�eed of Trust.
<br />aw and after
<br />d by taw, sell
<br />whole, or in
<br />ay determine,
<br />le at the tlme
<br />¢ient deed or
<br />implied. The
<br />thereof. Any
<br />(b) As may be permitted by law, after deducting all costs, fees and expenses of Trust e and of this
<br />Trust, including costs of evidence of title in connection with sale, Trustee shall apply the pr ceeds of sale
<br />to payment of (i) all sums expended under the terms of this Deed of Trust or under the te s of the Note
<br />not then repaid, including but not limited to accrued interest and late charges, (fi) all o er sums then
<br />secured hereby, and (iii) the remainder, if any, to the person or persons legally entitled ther to.
<br />(c) Trustee may in the manner provided by law postpone sale of all or any portion of the Prpperty.
<br />Remedies Not F�cclusive. Trustee and Lender, and each of . them, shall be entiUed to enforce'pavment and
<br />perfiarmance of any indebtednes� or obligatfons secured by this� Deed of l`rust and to exerci§e all righ
<br />under this Deed of Trust, under the Note, under any of the Related Documents, or under any other
<br />any laws now or hereafter in force; notwithstanding, some or all of such indebtedness and oblfgatio
<br />this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trus
<br />assignment or otherwise. Nefther the acceptance of this Deed of Trust nor its enforcement, whf
<br />action or pursuant to the power of sale or other powers contained in this Deed of Trust, shall prej�
<br />manner affect Trustee's or Lender's right to realize upon or enforce any other security now or hei
<br />Trustee or Lender, it being agreed that Trustee and Lender, and each of them, shall be entitled to enf
<br />of Trust and any other security now or hereafter held by Lender or Trustee in such order and man
<br />either of them may in their absolute dlscretion determine. No remedy conferred upon or reserved
<br />Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by law provided or
<br />each shall be cumulative and shall be in addition to every other remedy given in this Deed of Tr
<br />hereafter existing at_ law or in equity or by statute. Every power or remedy given by the Note or any
<br />Documents to Trustee or Lender or to which either of them may be otherwise entitled, may
<br />concurrenUy or independently, from time to time and as often as may be deemed expedient by Trus
<br />and either of them may pursue inconsfstent remedies. Nothing in this Deed of Trust shall be
<br />s and powers
<br />agreement or
<br />is secured by
<br />, pledge, lien,
<br />ther by court
<br />�ice or in any
<br />3after held by
<br />irce #his Deed
<br />ier as they or
<br />to Trustee or
<br />�ermitted,but
<br />ist or now or
<br />�f the Related
<br />be exercised,
<br />ee or Lender,
<br />construed as
<br />
|