|
� :
<br /> %'. ""' �.--- ---. .. _ .
<br /> , .
<br /> ,
<br /> , c��;., �0144"!1
<br /> ' IBI Any folluro on tha purt of the Truetor to muot the ropaymont torms in respect to tho Loan Agreement and any �
<br /> othor advancos under thle Deed of Truet heroby secured; end, � _
<br /> IC) Any actian by the Trustor prohlbfted by tho terms of the Loen Agraement or thla Deed of 7rust or any fallure ot -
<br /> the Truetor to oct ea requlred by the Loen Aflreement or thls Deed of Trust,each of whlch 7ruator hereby agrees
<br /> hnvu an ndvarso effoct on the Baneflclary's aecurlty for the line of credit eateblished and tha rtghta of the , .
<br /> � Beneticlary fn such security.
<br /> �•;:a��
<br /> end upon iho happening of any auch event of default, Deneflciery may declere ell sums secured hereby Immediateiy . .
<br /> due and peyeble by deliver to Truetee of written declaretion of defeult. Tho Truatee shell heve the powor of sale of �
<br /> the Property,and if Beneflciary dealres tho Property to be aold,It shell deposlt with Truatee thts Deed of Truat and all ;
<br /> promiasory notea and documenta evidencing expenditures secured hereby and shall deliver to Trustee a written notice r. :
<br /> �`Q: '
<br /> of default end electlon to ceuse the Property to be sold, And the Trustee In turn shall prepare e notice In the form .�r:���`�.,
<br /> raqulred by lew, whlch ahall be duty filed for record by Trusteo. '� �-Y
<br /> .,.�=��..�.__
<br /> + • ;�;-���w,:_
<br /> 1 (A) After the lepse of such time ea mey be requlred by lew following the recordatlon of said notice of default, and --`_•
<br /> notice of default end notice of sele heving boen given as requlred by law, Trustee, wlthout demand on Trustor, �°� '
<br /> I ahall sell the Property on the date and at the time end plsce designated in said notice of sale, at publlc auction to ' `�;���,��-,._�
<br /> � the higheat bldder, tho purchase price payable In lewful money of the United Statea at the time of sale. The �=-
<br /> � person conducting the sale may, for eny cause he deems expedient, postpone the sele from tfine to time untll It ., .�. _
<br /> shail be completed and,in every such ceso, notice of postponement al�all be given by pubtic declaration thereof �,, -_._
<br /> � by such pe�son at tho time and place lest appointed for the sele, provided,if the sele Is postponed for longer than _--
<br /> one11) riey beyond the dey designeted in the notice of sele, notico thereof shell be given in the same manner sa _
<br /> • the original notice of sele. 1'rustee shell execute and deliver to the purcheser its Deed conveying the Property so - - -
<br /> sold,but without endy covenent or werranty,express or Implied. The recitels In the deed of any mattera or acts -�----°-
<br /> •� � shell be concluslve proof of the truthfulness thereof. Any person,including Bonef(ciery, mey purchase at the salo. �_„� �
<br /> � (B) When Trustee sells pursuent to the powers herein,the Trustee shell epply the proceeds of the sele to payment _�
<br /> ' of the costs end expensea of exercising the power of sale ond of the sele, inaluding the payment of the Trustee's �
<br /> fees ectually Incu��ed, which Trustee's fees shell not in the aggregate exceed the following amount based upon �
<br /> s s the emount secured hereby and remeining unpaid;6 percentum on the firat 81,000 thereof, 1 percentum on the .�;;=`� �
<br /> balance thereof end then tc the items in subperagreph (CI in ths order there stated. -
<br /> �� T (C)After paying the Items specified in subparegrap� {61 ii ihe s�itl is uy Tru�isa, ar 2l�:.psopss cossri and oihpr��sts --
<br /> '.�;s,, of forAClosure and sale ff the sale is pursuant to Judicfal foreclosure, the proceeds of sele shetl be epplied in the order -
<br /> `: �� etated tc the payment of:
<br /> (I) Cost of any evldence of title procured In connection with such sale and of any revenue stemps;
<br /> 111) All aums the secured hereby; �°
<br /> � (III) The remetndor, if any,to the person legally entitled therato. �"�
<br /> . 13, DuUes and Oblipetiona of Truats�s. (a) The duties and obligations of trustea shell be determined solely by _
<br /> � the express provisions of this Deed ot Truat, and Trustee shall not be lieble except for the performance of such duties
<br /> �� end obllgetions es ere specffically set forth herefn, and no Implied covenante or oblfgetiona shall be imposed upon
<br /> '� Trustee; lb) No p�ovtsions of this Deed of Trust shall require Trustee to expand or risk its own funds, or otherwiso
<br /> �• incur any financlal obligetion in the performance of any of its dutles hereunder, or in the exercise of any of Its rlghts
<br /> . � or power, if it shall heve groundE for believing that the repeyment of such funds or adequate indemnity against such
<br /> " • M' risk o�Ilabillry is not reasonebly assured to It; (c) Trustee mey consult wlth counsel of Its own choosing and the advlce
<br /> � of such counsel shell be full and aomplete authorization end protection in the respect of any action tpken or suffor�d
<br /> by It hereunder in good faith end reliance thereon;(d) Trustee ehall not be Ilable for any ection taken by It fn goorJ fafth
<br /> � � end reasonebly belleved by it to be euthorized or withln the discretion or rlghts end powers conferred upon it by this - -
<br /> D+3ed ot Truat. `
<br /> .,. � =___��_— - -
<br /> 14. �lddisional Soourity Ins4rumenta. Trustor, at Its exponse, wlll exeaute and dallver to►he �rustoe,promp�tly
<br /> upon demend, such security instruments es mey be�equired by Trustee,in form and substance setisfactory to Trustse,
<br /> �{. covering any of tho Property conveyed by this Deed of Trust,which securfty Mstruments shell be additional security °::'{�
<br /> � for Truator's fefthful perfarmance of all of the torms, covenents and condittons of this Deed of Truat, the Loen ; __�^'��=-
<br /> � ,,,, � Agreement,any promissory notes secured hereby end any other securiry instruments executed In connection with this ti ���,���
<br /> .,._�;:,��__,�
<br /> ��' transaction. Such Instruments shall be recorded or filed, and re-recorded and reffled, et Trustor's expense. ` � .-„�, ,
<br /> •, _ .:��
<br /> � 16. Miecellaneoua. . :�a?�.��.
<br /> (A) In the event eny ono or more of the provisions contalned in the Deed of Trust, or the Loen Agreemant or any • � . ,
<br /> • promissory note, or eny other securlty inatrumvnt given In connoction with this transection, shall for any reoson "�:
<br /> to be held to be invalid,illegel or unenforceable in any respect, such invelidlty, illegetity or unenforceebility aheil,
<br /> at the aption of Beneficiary, nQt affect eny other provision of this Deed of Trust,that this Deed of Truat shall be ,
<br /> aonstrued es if such invelid, illegel or unenforceable provision had never been conteined herein o�therein.
<br /> (B1 This Deed of Trust aheli be conetrued eccording to the lews of the State of Nebraska.
<br /> (C) the Deed of Truat sholl fnsure to end bind the heirs,legetees,deviseeu,admini3trators,executora, successors and
<br /> eseigns of the panies hereto. .,
<br /> . � tD) Trustor shell pey all texos levied upon thfa Deed of Trust or tho debt secured hereby,together wfth eny other taxes .
<br /> -_ �--._
<br /> or assessmente which mey be levled apalnst the Trustee or Beneficiery or the legal holder of the Loan Agreement
<br /> on account of the indebtedness evufence tnereoy, -
<br /> (E) Whoneva�used herein,tho singuler number shall includo the plurel, the plural,the singuler,the use of any gender r
<br /> shell be epplicable to all gendera,a�d the term "Beneffclery"shell include any payee of the indebtedness horeby �
<br /> secured or eny trensfer theroof,whether by operetion of law or otherwise.
<br /> • 18. Succeasor Trustea. Bon4ficlnry may from tims to timo substitute e successor or successors to any Trustee
<br /> named herefn or acting herounder to execute this Trust Ueed. Upon such appaintment and without conveyance to
<br /> the successor Truatee,the letter shell be vested with all titlo, powors and dutios conferrud upon eny Trustee herein
<br /> named or acting heroundor. Each such eppolntment or substitutfon shell be�nede by written instrument by Beneficlary,
<br /> containing reforence to this Deed af Trust and its place of record, which when recorded in the office of the Register
<br /> of Deeds of the r.ounty or countiea in which seld property is situated,ahall be conclusive proof of pr4per appoi�t ent
<br /> o'f the auccessor Trustee. The foregofng power of substftution end the procedure therefore shell not be�xChl9�e�f
<br /> i
<br /> 9l94 408-3
<br /> I �•
<br /> i _ _
<br />
|