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<br /> ,y� � � i l.Events of Defautt. The following shall consdmu an Event of Defautt uader this Deed of Tnut: � 9�4 ������ ' `��•.°' , .
<br /> �� � �� . (a)FaiI�ue to pay aay instaUment of principal or interest of atry other swa secured hereby when du�;
<br /> � , `� � • (t►)A breach of or defanit undet anyr provision contained in the Notc.this Deed of Tmst,azry of the Loan Instruments.o� . `�V . ,� .�
<br /> ` , any other lien or encumbranse upon the Property; : ` � �~ . `
<br />"`' . . _ � ' ' (c)A writ of execution or auacLment or any similaz process shall 6e entered against Truswr whtch sbali becotne a lien o�� � .�� `� �t .
<br /> �. • , the Properry or aay pnrtioa thereof or iatcrest therein; � . � . '
<br /> : � (�7itere shall be fited by or against TnLCwr or Eonower an actiaa under aay present or future federal. state oc other� �' `
<br /> : statute.law or regulation relating to bankn�ptry.iasolvency ar oti�er relief for debtors;or there sdal!be appointed any trustee, ` �' ��` � ��
<br /> receiver or liguidawr of Trustor or Borrower or of all or atfy pars of the Property.ar the rents, iss�ces or profits thereaf,or �s
<br /> Tn�swr or Horrower shall make any general assignment for the benefit of crediWrs; ���;�
<br /> � ' � � ' (e)The sale, transfer. �ease, assignment, convcyaucc or fi�nher encumbrance of all or aay part of or any interest in the , •
<br /> � :�,n:'..��:_ Property, either volunrarily or involuntarily, arichout the express wriuen consent of Lender; provided ihat Trostor shaU be � �
<br /> <.-�—` '�-,, permttted w execaie a Icase of dte Praperty dtat does not ca�ain an opt�an w pttrcl�aad the icrm of urhich does noi exceed --� � .�S
<br /> '` � : one year; , . .
<br /> (� A6andonment of the Property:or .
<br /> � . , ; (g)If Tcustor is not an individual, the is.tivance.sate,transfer,assignmen�conveyance or eacumbrance of more t�an(if a
<br /> s� . � corporation)a mtal of �o_o percent of its issued and outsranding stnck,or Cf a paime�ship)a wtal of N!A pecccnt y •
<br /> :�L� ., . , af pamiership interests.or(if a limited liab'il'itY���3+?a wial of N�n percent of the limiu:Q liab�7iry company interests ° .'. •`
<br />- ;. ; or voling rights d�uing tite period this Deed of Tnut remains a lien on the property. , r� :-
<br />==:, ` ` (h)If the obligadon secured heieby is guaranteed in whole or iu part by the Farmers Home Administradon,borrower further ' _ -
<br />�;; � agrees that the Loan(s}secured by this instmment ari116e in default shoutd auyr laan praceeds be Qsed for a pwpose tl�at ariU •�;: w��.�`%__'s:
<br />- � • ' conm�uie W excessive erosioq of highty emdible land or tn the coavezsian of wetland to produce or to make poss�ble the . <,'+?"'`,
<br /> - �; , '. � production of an agricultnral wmmodity,as fiuther explaiued in 7 CFR Pan 1940,Snbput G,Exlu'bit M. �_ =_
<br /> �`<,' ' � ` 12.Remedies;A.ccetetatton Upon Default. Ia the event of an}+fivent of DefaWt Lender may,witho�nntice except as required �. `
<br /> �"� , �t by law� declare all inde6Dedness secured hereby to be due and payable aad the same sLall thereupon become due and Qayabte �. °�_• ' �
<br /> --� . ' ' wiihout ar►Y Presenm�em,demand.Protest or nodce of a�r kind 1'hereafter Lender may: � ;,
<br />-..� :; � '::,;. (a)Demaad tbat Trustee exercise the POWER OF SA1.E gcanted herein,aad Trustee shall thereafi�t cavse Trustor's iniecest :��4�' �,. �
<br /> -"�. . � . . in the Praperty m be sotd and dte proceeds to be dism'bnted,all in the marmer pmvided in the Nebraska Trast Deeds Act; . " __
<br />-- . � (b)F,xercise aay aad all rights provided for in aay of the Loan Instrumeats or by law apon occursence of atry Eveat of - -�
<br /> ��5`-�: � - � Default;and �:,; _��.
<br /> �� , ' (c)Commence an action to foreclose this Deed of Trast as a mortgage.appoint a receivec,ar specifcally enfnrce any of the • ,�
<br /> ��rf� , `�"� covenantshereof. -
<br /> •. �' z'� No remedy herein conferred upon or resenred to Tnutee or Lender is intended to be exclusive of a�r other remedy herein,in the �- , `*'�::-'-
<br /> - _ , � ,� . •'.=f Loan Instruments or by law provided or permiued,but each sdall be cumulative,shall be in addidon to every other remedy g�ven .;�.s.`_
<br /> ' herennder,in the Loan Ins�ments or now or hereafter existing at law or in equiry or by statute.and tnay be exercised wncurcently , °. .:�:.'�:
<br /> . . . independentty or snccesgivety. _
<br /> :�� � 13.7'rostee. The Trostee may sesign at atry tane without caase, and Ixnder ma}+ at any time and cvithont cause appoimt a � �--
<br />- � ' " ' s�ccessor or substiwte Tnutee. Tn�stee shaU not 6e 1Iable w aay party.including without limitatioa Lender.Bonower,Trusror or � �; <.',- -
<br /> =:'� � . � . aay purchaser of the Property,for arry toss or damage unless due w reckless or wiUful misconduct.and shall not be reqaired to take � •` --
<br /> '� � . � �. " • azry action in connecdon with the enforcement of this Deed of Trast unless indemnified, in writing,for all costs, compensaaon or ' ""_��
<br /> �:.
<br />' ��' � . �'`� expensrs which may be assocQa�ed therewitU. In addition,Tmstee tnay become a purchaser at any sale of the Praperty(�dicial or . . --
<br />�:'; , ; under the power of sate granted Herein}; postpone the sale of all or any portion of the Property,as provided by law; or selI the -�
<br /> - . :•� • Praperry as a whole,or in separate pazceLs or Iots at Tn�stee's discredoa. � ' , ,� �
<br /> _ � ,� '.:.�� � 14.Fees and Expenses. In the event Tnutee sells ttte Property by eaercise of power of sale,Tnutee shall be entitled to appJy �'. �> •,:.:�;-__
<br />; , : .- . airy sale proceeds fust to payment of a�l costs and expenses of exercising power of sale.including all Trustee's fees.and Lender's .:, _T
<br /> '� aad Trustee's aaomey's fees, acaally incurred to extent permitted by applicable law. In the event Borrower or Truscor exercises � -�'
<br /> . . i .� ��._-::
<br /> � . azry right provided by law ta cure an Eveat of Default, I.eader shaii be entitled to recover from Trustor all costs and expenses • ;°���
<br /> .�• ' , � actualIy incurred as a result of Trustor's default, including wiWout limitation all Trustee's and attomey's fees. to the extent . ---
<br /> < < pernutted bY aPPlicable law. " ��
<br /> -- ,. .. �:� 15.firtur+e Advances. Upon request of Boaower. l.ender may. at its option. malte addidonal and future advances and � � -
<br /> ���:r�, . .� � readvanceg to Borrower. Such advances and readvances,with intemst thereon,sdall be secured by this Deed oY Trust. At no dme ,� � .; _
<br /> �,.,: •, . sLall the principal amouat of the indebtedness secured by tLis Deed of Trust.not including sams advanced to protect the security of -
<br /> , , this Deed of Trus� eaceed We aggregate of the originai principa!amounta stated herein, or $ ie�.000.00 , --
<br />_ � whichever is greater. °
<br /> • _ �. 16.Mlsceltaneous ProvLsfons. ' ;� •.
<br /> (a)Borrower Not ReIeased. Extension of We dme for payment or madification of amartiza�on of tIie sums secured by t8is � ;.. f
<br /> _,..,:,:: �• '`�� Deed of Trust granted by Lender to auy successor in interest of Borrower shall not operate to release, in a�r marsner. the =
<br /> -: �' • • IiabilIry of the or�inal Banower and Bonower's successots in inrerest. L.eade�shall tcoi�e seyiii i�ed to commence praceedinga � '
<br />-'��'�' ' � • against�ch successor or refuse ta extend time for payment or otherwisa modfycsmoitizauoa of tj�e s�ms secured by this Deed , . .
<br /> _ of Trust by reason of any demands made by the orisinal Bonower attd 9ottower'sanCCesuns in•iateres�
<br /> . ' �' � ' (b)I.enBer's Powers. Without affecting the liability of a�ry other person 1ia61e foi the payment of any obligauon herein , �
<br /> � . . mendoned. aad without affecdng the lien or charge of this Deed of Trust upon any portion of the Properry not then or .
<br /> •� :���:. �_ theretofore released as securiry for the full amount of all unpaid obligations.Lender may,from dme to time and wlthout notice . , .
<br /> -'���"'; • (i) release any person so liablc, {i7 e�ctend the maturity ar alter any of the t�tms of a�iy such obligations, Cii)grant other � . �
<br /> ' indulgences.(iv)release or reconvey,or cause to be released or reconveyed at ay time at Lender's option any parcel,ponion or �
<br /> �' ' all of the Properry, (v) take ar release any ather or additiona! security for any obligation hereln mendoned. or (vi) make .��. '
<br /> ' . wmposirions or other anansements with debtors in reta6on theteto. ' . •
<br /> �'�`� (c)Forbearance by Lender Not a Watver. Any forbearance by Lender in exercising any right or remedy hereunder.or . '
<br /> . , otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right ar remedy. The � . '.
<br /> - •'�: procurement of insurance or the payment of taxes or other llens or charges by Lender shall not be a waiver of Lendet's right to � �
<br />' -.'��r�- . � acceterate the maturiry of the indebtedness secured by this Deed of Trust. • �.
<br /> (d)Smccessora and Asslgns Sound;Joint and 5everal l,lability;Capdons. 'I'he covenants and agreement4 herein contained " �
<br />- . . shall hind,and the rights hereunder shall inure to.the respective successors and assigns of l.ender and'frustor. All covenants
<br /> ,; , and agreements of Trustor shall he joint and several. The captions and headings of the paragapfis of this Deed of Trust are for ' � . .
<br /> convenience only and are not to be used to interpret or define the provisians hereof. '
<br /> • (e) Request for Nottces. 'fhe parties hetehy request that a copy of any notice of default hereunder and a copy of any notice . • .
<br />• • of sale hereunder he mailed to each parry to ihis Deed of Trnst at the addres.c set forth above in the manner ptesctibed by
<br /> - _ applicable iaw. Bxcept for any ather notise required under applicable law to he given in another manner.any notice provided
<br /> ' for in this Deed of Trust shall be given by mailing such notice by certified mail addressed to the other parties,at We address set
<br /> 1 forth above. Any noHce provided for in thia Deed of Trust shall be effective upon mailing in the manner deslgnateA herein. If
<br /> ; --� ; Trusror is more than one person,nnrice scnt to the address set forth ahove shall he notice ta all such persons. �
<br /> `r_� ' (� lnspeetton. l.ender may make ar cause to he made reasonable entries upnn and inspections of the Pcoperty, provided � '
<br /> .; • � � ; that Lender shall give Trnstnr notice prior to any such inspection specifying reasunable cause therefor related to Lender's � .
<br /> � � interest in the Properry.
<br /> . � { (g)Rcconveyance. Upon payment of all sums secuted by this Deed uf'frust. Lcnder shall rcyaest Trustee tn recottvey the • '
<br /> , . . ; Property and shaU surrender this Deed��f Trust and all nntes evidencing indebtedness secured hp this bec�l of Trust to Trustee. f�
<br /> � rrusree shall reconvey the Properry without warranry and withnut charge �o the person or persnns legally entided theretu.
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<br /> - -�--� "frustor shaii pay aii rnsts of recrrrdarion,if any. . • : -
<br /> � " ` �w•wnuRp..��na nRm a;.,moe • - ' -
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