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<br />Loan No: 101253832
<br />DEED OF TRUST � � 1 2 � 4�'7 7
<br />(Continued) Page 9
<br />Deed of Trust shall be effactive untess given in writing and signed by the party or parties sought to be charged or
<br />bound by the alteration 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 opereting income received from the Property during Trustor's
<br />previoua fiscsl year in such form and deteil as Lender ahall requi�e. "Net operating income" shall mean ell cash
<br />receipts from the Properry less ell cesh expenditures mede in connection with the operation of the Property.
<br />Caption Headinga. Caption headings in this Deed of Truat are for convenience purposes only end 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 beneflt of Lender in any capacity, without the written consent
<br />of Lender.
<br />Goveming Lew. This Deed of Trust will be govemed by federal law applicable to Lender end, to the extent not
<br />preempted by federal law, the laws of the Stete of Nebraska wtthout regerd to tts confltcts of law provtstons. This
<br />Deed of Trust has been accepted by Lender in the State of Nebraske.
<br />Choice of Venue, if there is a lawsuit, Trustor agrees upon Lender's request to submit to tha jurisdiction of the
<br />courts of Hall County, Stete of Nebraska.
<br />No Waiver by Lender. Lender shall not be deemed to have weived 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 />shell operete as e waiver of such right or eny other right. A weiver by Lender of a provision of this Deed of Trust
<br />shell not prejudice or constitute a waiver of Lender's right otherwise to demand atrict compflance with that
<br />provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor eny courae of dealing
<br />between Lender and Trustor, shall constitute e waiver of any of Lender's rights or of any of Trustor's obligations
<br />as to eny future transactions. Whenever the consent of Lender is required under this Deed of Trust, the grenting
<br />of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where
<br />such consent is required and in ell ceses such consent may be grented or withheid in the sole discretion of Lender.
<br />Severabilhy. If e court of competent jurisdiction flnds any provision of this Deed of Trust to be illegal, invalid, or
<br />unenforceable as to eny circumstance, that flnding shell not make the offending provision illegal, invelid, or
<br />unenforceable as to any other clrcumstance. If feasible, the offending provision shall be considered modifled so
<br />thet it becomes legal, valid and enforceable. If the offending provision cannot be so modiNed, 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 effect the legality, validity or enforceability of eny
<br />other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to eny limitations steted in this Deed 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 e 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 forbearence or
<br />extension without releasing Trustor ftom the obligetions of this Deed of Trust or liabflity under the Indebtedness.
<br />Ttme is of the Essenca. Time is of the essence in the performence of this Deed of Trust.
<br />Walver of Homestead Facemptfon. Trustor hereby releases and weives ell rights end benefits of the homastead
<br />exemption laws of the State of Nebreske as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in thia Deed of
<br />Trust. Unlesa speclfically steted to the contrary, ell references to dollar amounts shall mean amounts in lawful money
<br />of the United States of Americe. Words end terms used in the singular shall include the plural, end the plural shell
<br />include the singular, as the context may require. Words end terms not othervvise defirted in this Deed of Trust shell
<br />heve the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneftciary. The word °Beneficiary" means Five Points Benk, end its successors and assigns.
<br />Bonower. The word "Borrower" means THE GRAND FOUNDATION INC and includes all co-signers end co-mekera
<br />signing the Note and ell their successors and essigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, end Trustee, and
<br />includes without Omitation ell assignment and aecurity interest provisions relating to the Personel Properry and
<br />Rents.
<br />Default. The word "Defeult" means the Default set forth in this Deed of Trust in the section titled "Defeult°.
<br />Environmental Lawa. The words "Environmental Lews" mean any and all state, federel end locel atetutes,
<br />regulations and ordinances relating to the protection of humen health or the environment, including without
<br />Umitetion the Comprehensive Environmentel Responae, Compensation, and Liability Act of 1980, as amended, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br />No. 99-499 ("SARA"1, the Hazardous Materials Trenaportetion Act, 49 U.S.C. Sectfon 1801, et seq., the Resource
<br />Conservation end Recovery Act, 42 U.S.C. Section 6901, et seq., or other appliceble stete or federal laws, rulea,
<br />or regulations adopted pursuant thereto.
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