|
' � DEED OF TRUST
<br />(Continued) 2 p 12 p 0 6�. � Page 6
<br />interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include,
<br />without limitation, however subject to eny limits under appliceble law, Lender's attorneys' fees and Lender's legal
<br />expenses, whether or not there is a lawauit, including attomeys' fees end expenses for bankruptcy proceedings
<br />(including efforts to modify or vacate any automatic stey or inJunctionl, appeals, and any anticipated post-judgment
<br />collection services, the cost of searching records, obtaining title reports lincluding foreclosure reportsl, surveyors'
<br />reports, and appraisal fees, title insurence, and fees for the Trustee, to the extent permitted by applicable law.
<br />Trustor also will pay any court costs, in addition to all other sums provided by law.
<br />Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
<br />POWERS AND OBLIGATIOIVS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee
<br />are part of this Deed of Trust:
<br />Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to
<br />take the following actions with respect to the Property upon the written request of Lender end Trustor: (a) join in
<br />preparing end filing a map or plet of the Real Property, including the dedication of streets or other rights to the
<br />public; (b) join in granting any easement or creating any restriction on the Real Properry; and (c) join in any
<br />subordination or other agreement affecting this Deed of Trust or the interest 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
<br />and remedies set forth above, with respect to all or any pert of the Property, the Trustee shall have the right to
<br />foreclose by notice and sale, and Lender shall have the right to foreclose by judicial foreclosure, in either case in
<br />accordance with and to the full extent provided by appticeble law.
<br />Successor Trustee. Lender, at Lender's option, may from time to time eppoint a successor Trustee to any Trustee
<br />appointed under this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the
<br />office of the recorder of Hall County, State of Nebraska. The instrument shall contain, in addition to all other
<br />matters required by state law, 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 eddress of the successor
<br />trustee, and the instrument shall be executed and ecknowledged by ell the beneflciaries under this Deed of Trust or
<br />their successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the
<br />title, power, end duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for
<br />substitution of Trustee shall govern to the exclusion of all other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default
<br />and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received
<br />by telefacsimile (unless otherwise required by law►, when deposited with a netionally recognized overnight courier, or, if
<br />mailed, when deposited in the United States mail, as first cless, certified or registered mail postage prepaid, directed to
<br />the eddresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of
<br />any lien which has priority over this Deed of Trust shell be sent to Lender's address, as shown near the beginning of
<br />this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written
<br />notice to the other parties, specifying that the purpose of the notice is to change the party's eddress. For notice
<br />purposes, Trustor agrees to keep Lender informed at ell times of Trustor's current address. Unless otharwise provided
<br />or required by lew, if there is more than one Trustor, any notice given by Lender to any Trustor is deemed to be notice
<br />given to all Trustors.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a pert of this Deed of Trust:
<br />Amendmer�ts. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and
<br />agreement of the parties es to the metters set forth in this Deed of Trust. No alteration of or amendment to this
<br />Deed of Trust shall be effective unless given in writing and signed by the party or parties sought to be charged or
<br />bound by the elteration or amendment.
<br />Annual Reports. If the Property is used for purposes other than Trustor's residence, Trustor shall furnish to
<br />Lender, upon request, a certified statement of net operating income received from the Property during Trustor's
<br />previous fiscal year in such form and detail as Lender shall requlre. "IVet operating income" shall mean all cash
<br />receipts from the Property less all cash expenditures made in connection with the operation of the Property.
<br />Caption Headings. Ception headings in this Deed of Trust ere for convenience purposes only and are not to be
<br />used to interpret or define the provisions of this Deed of Trust.
<br />Merger. There shell be no merger of the interest or estate created by this Deed of Trust with any other interest or
<br />estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent
<br />of Lender.
<br />Governing Law. This Deed of Trust will be governed by federal lew epplicable to Lender end, to the extent not
<br />preempted by federel law, the laws of the State of Nebraska without regard to its conflicts of law provlsions. This
<br />Deed of Trust has been accepted by Lender in the State of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the
<br />courts of Buffalo County, State of Nebreska.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such
<br />waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right
<br />shall operate as a weiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust
<br />shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that
<br />provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing
<br />between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustor's obligations
<br />as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting
<br />of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where
<br />such consent ia required and in all cases such consent mey be granted or withheld in the sole discretion of Lender.
<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or
<br />unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or
<br />unenforceable as to any other circumstance. If feasible, the offending provision shail be considered modified so
<br />that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be
<br />considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or
<br />unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any
<br />other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Dead of Trust on transfer of Trustor's interest,
<br />this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If
<br />ownership of the Property becomes vested in a person other than Trustor, Lender, without notice to Trustor, may
<br />deal with Trustor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or
<br />extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waive Jury. All parties to this Deed of Trust hereby watve the right to any jury trial in any action, proceeding, or
<br />counterclaim brought by any party against any other party.
<br />
|