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20120514� 7. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written inetrument executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the Truat Estate is located and by otherwise complying with the proviaions of the applicabie law of the State of Nebraska subetitute a successor or euccessors to the 74vstee named herein or acting hereunder. 8. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, divorcee, personal representatives, aucceasors and asaigna. The tQrm "Beneficiary" shall mean the owner and holder of the Note, whether or not named as Beneficiary herein. 9. INSPECTION. Beneficiary or its agent may make reasonable entries upon and inapections of the Property. Beneficiary shall give Trustor notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. TRUSTOR NOT ftELEASED; FORBEARANCE BY BENEFICIAftY NOT A WAIVER. Ea�tension of the time for payment or modification of amortization of the swns secured by this Security Inetrument grant� by Benefieiary to any successor in interest of Trustor shall not operate to release the liability of the original Truator or �uetor's succesaore in intereat. Beneficiary shall not be required to commence proceedings against any successor in intereat or refuae to e8tend t,ime for payment or otherwiae modify amortization of the suma secured by thia Security Instrument by reason of any demand made by the original Trustor or Trustor's succeaeors in intereat. Any forhearance by Beneficiary in egercising any ri�ht or remedy shall not be a waiver of or preclude the egercise of any right or remed.y. 11. TRANSFER OF TI� PROPERTY OR A BENEFICIAL INTEREST IN TRUSTOft: If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Tnisstor is sold or transferred and Trustor is not a natural person) without Beneficiary's prior written conaent, Beneficiary may, at ite option, require immediate payment in full of all sums aecured by this Security Instrument, however, this option shall not be egercised by Beneficiary if exercise is prohibited by federal law as of the date of this Security Instrument. If Beneficiary egercises this option, Beneficiary shall give Trustor notice of acceleration. The notice shall prnvide a period of not less than 30 days from the date the notice is delivered or mailed within which the Trustor must pay a11 aums secured by this Security Inatrument. If Truetflr fails to pay these sume prior to the expiration of this period, Beneficiary may invoke any remedies permitted by thie Security Instrument without further notice or demand on Truator. 12. EVENTS OF DEFAiJLT. Any of the following events shall be deemed an event of default hereunder: a. Trustor shall have failed to make payment of any installment of interest, pri.noipal, or principal and interest or any other aum secured hereby when due; or b. There has occurred a breach of or default under an.y term, covenant, agreement, condition, provision, represen- tation or warranty contained in any of the Loan Instrumenta. 13. ACCELERATION; REMEDIES. Beneficiary shall give notice of default to Trustor priar to acceleration following Trustor's breach of any covenant or agreement in this Trust Deed. The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not lesa tha.n 30 daye from the date the notice is given to Truator, by which the default muat be cured: and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall fiirther inform Trustor of the right to reinatate after acceleration and the right to bring a court action to assert the non-e�sstence of a default or any other defense of Truator to acceleration and sale. If the default is not cured on or hefore the date specified in the notice, Beneficiary at its option may require immediate payment in full of all aums secured by thia Security Inetrument without further demand and may invoke the power of sale and any other remedies permitted by applicable law Trustor ahall be entitled to collect all e8penses incurred in pursuing the remedies provided in. this paragraph 13, including, but not limited to, reasonable attorney's fees and costa of title evidence. If power of sale ia invoked, 7.Yustee ehall record a notice of default in each county in which any part of the Property is located and shall mail copies of auch notiee in the manner prescribed by applicable law to Trustor and to the other persons prescribed by applicable law After the time required by applicable law, Truetee shall give pnblic notice of sale to the persons and in the manner prescribed by applic- able law Truatee, without demand on Trustor, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. ZYustee may poatpone eale of all or any parcel of the Property by public announcement at the time and place of any pre- viously acheduled eale. Beneficiary or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Truetee ehall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the Truatee's deed ahall be prima facie evidence of the truth of the atatements made therein. Trustee ehall apply the proceeda of the sale in the following order: ta) to all egpeensea of the sale, including, but not limited to, Truetee's feea as permitted by applicable law and reasonable attorne�s feea; (b) to all suma secured by this Security Instrument; and {c) any egceas to the person or peraons legally entitled to it. 14. BENEFICIARY IN POSSESSION. Upon acceleration under paragraph 13 or abandonment of the Property, Beneficiary (in person, by agent or by judicially appointed receiver) shall be entitled to enter upon, take posaession of and manage the Property and to collect the rents of the Property including those past due. Any rents collected by Beneficiary or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, includ- ing, but not lunited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's fees, and then to the aums aecured by this Security Inatrument. 15. REMEDIES NOT EXCLUSIVE. Truetee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebtedness or obligationa secured hereby and to egerciae all rights and powers under this Deed of Trust or under any Loan Instrument or other agreement or any laws now or hereafter in force, notwithstanding some or all of the such indebtedness and obligations aecured hereby may now or hereafter be otherwise secured, whethar by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforce- ment whether by court action or pursuant to the power of sale or other powers herein contained, shall prejudice o� in any manner affect Trustee's or Beneficiary's right to realize upon or enforc:e any other aecurity now or hereafter held by Trustee `��'�" or Beneficiary, it being agreed that Trustee and Beneficiary, and each oFthem, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Beneficiary or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted, but each ahall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter esisting at la�v or in equity or by statute. Every power or remedy given by any of the Loan Instruments to Trustee or Beneficiary or to which either of them may be otherwise entitled, may be esercised, concurrently or independently, from time to time and as often as may be deemed expe- dient by �ustee or Beneficiary and either of them may puraue inconsistent remedies. Nothing herein shall be conetrued as prohibiting Beneficiary from seeking a deficiency judgment against the Truator to the extent such action is permitted by law 16. GOVERNING LAW. This Deed of Trust ahall be governed by the lawa of the State of Nebraska. In the event that any pmvision or clause of any of the Loan Instruments conflicts with applicable laws, such conflicts shall not affect other provisions of such Loan Instrumenta which can be given effect without the conflicting provision, and to this end the pro- visions of the Loan Instruments are declared to be severable. Thia inatrument cannot be waived, changed, discharged or terminated orally, but only by an instrument in writing signed by the party againat whom enforcement of any waiver, change, discharge or termination is sought. 17. RECONVEYANCE. Upon payment of all sums aecured by this Security Inatrument, Beneficiary ahall requeat Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee sha11 reconvey the Property without warranty and without charge to the per- son or persons legally entitled to it. Such person or peraons ehall pay any recordation costs.