|
DEED OF TRUST � p�, g 0 6 6 5 8
<br />Loan No: 101'Q�3548 ,, '� ' (Continued) Page 7
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Right to Cure. If any default, other then a defeult in peyment is curable and if Trustor has not been given e 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, efter Lender sends written notice to Borrower demanding cure of such default: (1) cures the default
<br />within fifteen (7 5) days; or (21 if the cure requires more than fifteen (15) days, immediately initiates steps which
<br />Lender deems in Lender's sole discretion to be sufficient to cure the defeult end thereafter continues end
<br />completes all reasonable end necessary steps sufficient to produce compliance as soon as reasonably practicel.
<br />RIGHTS AND REMEDIES ON DEFAULT. If en Event of Default occurs under this Deed of Trust, et any time thereafter,
<br />Trustee or Lender may exercise any one or more of the following rights and remedies:
<br />Accelerat9on Upon Default: Additional Remedles. If any Event of Default occurs as per the terms of the Note
<br />secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable end
<br />the same shall thereupon become due and payable without any presentment, demand or protest of any kind.
<br />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, end do any acts which it
<br />deems necessary or desirable to preserve the velue, merketebility or rentebility of the Property, or part of
<br />the Property or interest in the Property; increase the income from the Property or protect the security of
<br />the Property; and, with or without teking possession of the Property, sue for or otherwise collect the
<br />renta, issues and profits of the Property, including those past due end unpeid, and apply the same, less
<br />costs and expenses of operation and collection attorneys' fees, to any indebtedness secured by this Deed
<br />of Trust, all in such order as Lender may determine. The entering upon end taking possession of the
<br />Property, the collection of such rents, issues and profits, and the applicetion thereof shall not cure or
<br />waive any default or notice of default under this Deed of Trust or invalidete eny act done in response to
<br />such default or pursuent to such notice of default; and, notwithstending the continuance in possession of
<br />the Property or the coilection, receipt and epplication 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 lew upon the
<br />occurrence of eny event of default, including the right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Deed of Trust es e mortgage, appoint a receiver or specifically
<br />enforce any of the covenents hereof; end
<br />(c) Deliver to Trustee a written declaration of defeult and demand for sele and a written notice of defeult
<br />and election to cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to be
<br />duly filed for record in the appropriate offices of the County in which the Property is loceted; and
<br />(d) �th respect to ell or any pert of the Personal Property, Lender shall heve all the rights and remedies
<br />of a secured party under the Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained,
<br />Lender shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note end 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 cause to be recorded, published and delivered
<br />to Trustor such Notice of Default and Notice of Sale as then required by lew and by this Deed of Trust.
<br />Trustee shall, without demand on Trustor, after such time as may then ba required by law end after
<br />recordation of such Notice of Default and after Notice ot Sale heving been given as required by lew, sell
<br />the Property at the time and place of sele fixed by it in such Notice of Sele, either as e whole, or in
<br />seperate 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 lewful money of the United States payable et the time
<br />of sale. Trustee shall deliver to such purchaser or purchesers thereof its good end 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 metters or facts shall be conclusive proof of the truthfulness thereof. Any
<br />person, including without limitation Trustor, Trustee, or Lender, may purchase at such sele.
<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 sele, Trustee shali epply 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 repaid, including but not limited to accrued interest and late charges, (ii) all other sums then
<br />secured hereby, and liii) the remainder, if any, to the person or persons legally entitled thereto.
<br />(c) Trustee may in the manner provided by law postpone sale of all or any portion of the Properry.
<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 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 any other agreement or
<br />any laws now or hereafter in force; notwithstanding, some or all of such indebtedness and obligations secured by
<br />this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br />assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement, whether by court
<br />
|