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., p�21_1998 DEED OF TRUST �8� Page 5
<br /> Loan No 702654 (Continued) 1�'3�5
<br /> or invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the continuance in
<br /> possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall be entitled to
<br /> exercise every right provided for in the Note or the Related Documents or by Iaw upon the occurrence of any event of default,including the
<br /> right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the covenants
<br /> hereof;and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to ceuse Trustor's
<br /> interest in the Property to be sdd,which notice Trustee shall cause to be duly filed for record in the appropriate offices of the Counly in
<br /> which the Prope�iy is located;and :
<br /> (d) With respect to all or any part of the Personal Property, Lender shalt have all the �ights and remedies of a secured party under the
<br /> Nebraska UnNorm Commercial Code.
<br /> Foreclosure by Power ot Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained,Lender shall notity Trustee and
<br /> shall deposit with Trustee this Deed of Trust and the Note and such receipfs and evidence of expenditures made and secured by this Deed of
<br /> Trust as Trustee may require.
<br /> (a) Upon receipt of such notice t�om Lender,Trustee shali cause to be recorded,published and delivered to Trustor such Notice of Default
<br /> and Notice of Sale as then required by law and by tMs Deed of Trust. Trustee shali,without demand on Trustor,after such Hme as may ?
<br /> then be required by law and after recordation of such Notice of Defautt and after Notk;e of Sale having been given as required by law,sell
<br /> the Property at the time and place of sale fnced by it in such Notice of Sale,either as a whole, or in separate lots or parcels or items as
<br /> Trustee shall deem expedient,and in such order as it may determine, at public suction to the highest bidder for cash in lawful money of
<br /> the UnHed States peyable at tive tlme of sale. Trustee shaN ds�ver to such purchaser or purchasers thereof ib good and sufficient daed or
<br /> deeds conveying the property so sold,but without any covenant or warranty,express or implied. The recitals in such deed of any matters
<br /> or facts shall be conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br /> purchase at such sale. :
<br /> (b) As may be permitted by Iaw,after deducting all costs,fees and expenses of Trustee and of this Trust,including costs of evidence of
<br /> title in connection with sale,Trustee shall apply the proceeds of sale to payment of (i)all sums expended under the ierms of this Deed of
<br /> Trust or under the terms of the Note not then repaid,including but not limited to axrued interest and late charges, (ii)all other sums then
<br /> secured hereby,and (iii)the remainder,if any,to the person or persons legally entitled thereto.
<br /> (c) Trustee may in the manner provided by Iaw postpone sale ot all or any portion of the Property.
<br /> Remedks Not Exciusive. Trustee and Lender,and each of ihem,shall be entitled to enforce payment and performance of any indebtedness
<br /> or obligations secured by this Deed of Trust and to exercise all rights and powers under this Deed of Trust, under the Note, under any of the
<br /> Related Documents, or under any other agreement or any Iaws now or hereafter in force; notwithstanding, some or all of such indebtedness
<br /> and obligations secured by ihis Deed o(Trust may now or hereafter be otherwise secured, whether by morfgage, deed of trust, pledge, lien, ?
<br /> assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement,whether by court action or pursuant to the power of
<br /> sale or other powers contained in this Deed of Trust, shall prejudice or in any manner affect Trustee's or Lender's right to realize upon or
<br /> enforce any other security now or hereaHer held by Trustee or Lender, it being agreed that Trustee and LAnder, and each of them, shall be
<br /> entitled to enfwce this Deed of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
<br /> either of them may in their absolute discretion determine. No remedy confened upon or reserved to Trustee or Le�der, is intended to be
<br /> exclusive of any other remedy in ihis Deed of Trust or by law provided or permitted,but each shall be cumulative and shall be in addition to
<br /> every other remedy given in this Deed of Trust or now or hereafter exisHng at law or in equity or by statute. Every power or remedy given by the
<br /> Noie or any of the Releted Dxuments to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised,
<br /> concurcently or independendy, kom time to time and as oHen as may be deemed expedient by Trustee or Lender, and either of them may
<br /> pursue inconsistent remedies. Nothing in this Deed of Trust shall be construed as prohibiting Lender from seeking a deficiency judgment
<br /> against ihe Trustor to the extent such action is permitted by Iaw.
<br /> Request For Notice. Trustor,on behalf of Trustor and Lender, hereby requests that a copy of any Notice of Default and a copy of any Notice
<br /> of Sala under this E)eed of Trust be mailed.to them a#the addr�ses set fo�th in lJas fi�st paragra�h-�Jhis.D�vd af Irist.--- -
<br /> Waiver, Election of Remedies. A waiver by any party of a breach of a provision of this Deed of Trust shall not constitute a waiver of or
<br /> prejudice the pariy's rights otherwise to demand strict compliance with that provision or any other provision. Election by Lender to pursue any
<br /> remedy provided in this Deed of Trust,the Note, in any Related Document,or provided by Iaw shall not exclude pursuit of any other remedy,
<br /> and an election to make expenditures or to take action to perform an obligation of Trustor under this Deed of Trust after failure of Trustor to
<br /> perform shall not affect Lender's right to declare a default and to exercise any of its remedies.
<br /> Attorneys'Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust,Lender shall be entitled to
<br /> recover such sum as the cou�t may adjudge reasonable as attorneys' fees at trial and on any appeal. Whether or not any cou�t action is
<br /> involved,all reasonable sxpenses incurred by Lender which in Lender's opinion are necessary at any time tor the protection of its interest or the
<br /> enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of
<br /> expenditure until repafd. Expenses covered by this paragraph include,without limitation, however subject to any limits under applicable law,
<br /> Lender's attorneys' feas whether or not there is a lawsuit, including attorneys' fees for bankruptcy proceedings (including efforts to modify or
<br /> vacate any sutomatic stay or injunction), appeals and any anticipated post-judgment collection services, the cost of searching records,
<br /> obtaining tiUe reports (including forectosure reports), surveyors' reporls,appraisal fees, title insurance, and fees for the Trustee, to the exient
<br /> permitted by applicable law. Trustor also wiil pay any court costs,in addition to all other sums provided by law.
<br /> Rights of Trostee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
<br /> POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obiigations of Trustee are part of this Deed of
<br /> Trust.
<br /> Powers of Trustee. In addition to all powers of Trustee arising as a matter of law,Trustee shall have the power to take the following aclions
<br /> with respect to the Property upon the written request of Lender and Trustor: (a)join in preparing and filing a map or plat of the Real Property,
<br /> including the detlication of streets or other rights to the public; �b)join in granting any easement or creating any restriction on the Real Prope�iy;
<br /> and (c)join in any subordination or other agreement aifecting this Deed of Trust or the iMerest of Lender under this Deed of Trust.
<br /> Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set forth above,
<br /> with respect to all or any part of the Property,the Trustee shall have the right to foreclose by notice and sale,and Lender shail have the right to
<br /> foreclose by judicial fpreclosure,in either case in accordance with and to the fWl extent provided by applicable lew.
<br /> Successor Trusiee. lender,at Lender's option,may from Gme to time appoint a successor Trustee to any Trustee appointed hereunder by an
<br /> instrument executed and acknowledged by Lender and recorded in the office of the recorder of HALL County Nebraska. The instrument shall
<br /> contain, in addition to all other mafters required by state Iaw, the names of the original Lender,Trustee, and Trustor,the book and page(or
<br /> computer system reference)where this Deed of Trust is recorded,and the name and address of the successor trustee,and the instrument shatl
<br /> be executed and acknowledged by all the beneficiaries under the Deed of Trust or their successors in interest. The successor trustee,without
<br /> conveyance of the Property,shall succeed to all the title,power,and duties conferred upon the Trustee in this Deed of Trust and by applicable
<br /> law. This procedure for substitution of trustse shall govern to the exclusion of all other provisions for substitution.
<br /> NOTICES TO TRUSTOR AND OTHER PARTIES. Any notice under this Deed of Trust shall be in writing, may be sent by telefacsimile (unless
<br /> otherwise required by Iaw), and shall be effective when actually delivered, or when deposited with a nationally recognized ovemight courier, or,if
<br /> mailed,shall be deemed eHective when deposited in the United States mail first class,certified or registered mail,postage prepaid, directed to the
<br /> addresses shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formaf
<br /> written notice to the othe�parties,specifying thatthe purpose of the noNce is to change the party's address. All copies of notices of foreclosure from
<br /> the holder of any lien which has priority ovec this Deed of Trust shall be sent to Lender's address,as shown near the beginning of this Deed of Trust.
<br /> For notice purposes,Trustor agrees to keep Lender and Trustee informed at all times of Trustor's current address.
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br /> Amendmenta. This Deed of Trust,together with any Related Documents,constitutes the entire understanding and agreement of the parties as
<br /> to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing and
<br /> signed by the party or parties sought to be charged or bound by the alteration or amendment.
<br /> Applicable law. This Deed of Trust has been delivered to Lender and accepted by Lender in the State of Nebraske. This Deed of Trosf
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