|
DEED OF TRUST ���. 2 U 14 ��
<br />(Continued) Page 6
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable lew. In addition to the rights
<br />and remedies set forth above, with respect to all or any part of the Property, the Trustee shall heve the right to
<br />foreclose by notice and sale, and Lender will have the right to foreclose by judicial foreclosure, in either casa in
<br />accordance with and to the full extent provided by applicable lew.
<br />Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to eny Truatee
<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, Stete of Nebraska. The instrument shall contain, in addition to all other
<br />matters required by state law, the names of tha original Lender, Trustee, and Trustor, the book end page (or
<br />computer system reference) where this Deed of Trust is recorded, and the name end eddress of the successor
<br />trustee, and the instrument shall be executed and acknowledged by all the beneficiaries 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, and 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 ell other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Deed of Trust, including without limitation eny 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 law1, when deposited with a netionally recognized overnight courier, or, if
<br />mailed, when deposited in the United States mail, as first class, certified or registered mail postege prepeid, directed to
<br />the addresses 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 shall be sent to Lender's address, as shown near the beginning of
<br />this Deed of Trust. Any person may change his or her address for notices under this Deed of Trust by giving farmel
<br />written notice to the other person or persons, specifying that the purpose of the notice is to change the person's
<br />address. For notice purposes, Trustor agrees to keep Lender informed at all times of Trustor's current address. Unless
<br />otherwise provided or required by law, if there is more than one Trustor, any notice given by Lender to eny Trustor is
<br />deemed to ba notice given to all Trustors. It will be Trustor's responsibility to tell the others of the notice from Lender.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Dead of Trust:
<br />Amendments. What is written in this Deed of Trust and in the Related Documents is Trustor's entire egreement
<br />with Lender concerning the matters covered by this Deed of Trust. To be effective, any change or amendment to
<br />this Deed of Trust must be in writing and must be signed by whoever will be bound or obligated by the change or
<br />amendment.
<br />Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and ere not to be
<br />used to interpret or define the provisions of this Deed of Trust.
<br />Merger. There shall 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 eny time held by or for the benefit of Lender in eny capecity, without the written consent
<br />of Lender.
<br />Governing Law. This Deed of Trust will be governed by federal law applicable to Lender and, to the extent not
<br />preempted by federal law, the lews of the State of Nebraska without regard to its conflicts of law provisions. This
<br />Deed of Trust has been accepted by Lender in the State of Nebraska.
<br />Choice of Venue. If there is a lewsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the
<br />courts of Richardson County, State of Nebraska.
<br />Joint and Several LiabiUty. All obligations of Trustor under this Deed of Trust shall be joint and several, and all
<br />references to Trustor shall mean each and every Trustor. This means that each Trustor signing below is
<br />responsible for all obligations in this Deed of Trust.
<br />No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under this Deed of Trust
<br />unless Lendar does so in writing. The fact that Lender delays or omits to exercise any right will not mean that
<br />Lender has given up that right. If Lender does agree in writing to give up one of Lender's rights, that does nat
<br />mean Trustor will not hava to comply with the other provisions of this Deed of Trust. Trustor also understends
<br />that if Lender does consent to e request, that does not mean that Trustor will not have to get Lender's consent
<br />again if the situation happens again. Trustor further understands that just because Lender consents to one or more
<br />of Trustor's requests, that does not mean Lender will be required to consent to any of Trustor's future requests.
<br />Trustor weives presentment, demand for payment, protest, and notice of dishonor.
<br />Severability. If a court finds thet any provision of this Deed of Trust is not velid or should not be enforced, that
<br />fact by itself will not mean that the rest of this Deed of Trust will not be valid or enforced. Therefore, e court will
<br />enforce the rest of the provisions of this Deed of Trust even if a provision of this Deed of Trust may be found to be
<br />invalid or unenforceable. �
<br />Successors and Assigns. Subject to any limitations steted in this Deed of Trust on tranafer of Trustor's interest,
<br />this Deed of Trust shall be binding upon and inure to the benefit of the partiQs, their successors and essigns. 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 waive the right to any jury trial in any action, proceeding, or
<br />counterclaim brought by any party against eny other party.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rfghts and benefits of the homestead
<br />exemption laws of the State of Nebreska as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
<br />Beneficiary. The word "Beneficiary" means Richardson County Bank & Trust Co., end iYs succ and assigns.
<br />Borrower. The word "Borrower" means TRACY S. RHODUS and ROBIN E. RHODUS and iricludes all co-si�ners
<br />and co-makers signing the Note and all their successors and essigns.
<br />Deed of Trust. The wards "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and
<br />includes without limitation all assignment and security interest provisions relating to the Personal Property and
<br />Rents.
<br />Environmental Laws. The words "Environmentel Lews" mean eny and all state, federal and local statutes,
<br />regulations and ordinances releting to the protection of human health or the environment, including without
<br />limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as emended, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments end Reauthorization Act af 1986, Pub. L.
<br />No. 99-499 ("SARA"1, the Hazerdous Materials Trensportation Act, 49 U.S.C. Section 1801, et seq., the Resource
<br />Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal lews, rules,
<br />or reguletions adopted pursuant thereto.
<br />Event of Default. The words "Event of Dafault" mean any of the events of default set forth in this Deed of Trust in
<br />the events of default section of this Deed of Trust.
<br />
|