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201206406
<br /> SUBORDINATION OF DEED OF TRUST
<br /> Loan No: 8'1001024 (CoYttll�ued) Page 2
<br /> � ierms of this Subordination; (B) this Subordinatton is executed at Borrower'S request and not at the request of Lender;
<br /> (C) Lender has made no tepreseMation to Beneficiary as to the creditworthiness of Borrower; and (D) Beneficiary has
<br /> eStablis�hed adequate means of obtaining from Borrower on a continuing basis infiormatio.n�regarding Borrower's financial
<br /> condition. Beneficiary agrees to keep adequately informed from such means of any facts, events, or circumstances
<br /> which might in any way affect Beneficiary's risks under this Subordination, and Beneficiary further agrees that Lender
<br /> shall have no obligation to disclose to Beneficiary information� �or material acquired by Lender in the co�urse of its
<br /> relavonship with Beneficiary.
<br /> BENEFICIARY WAIVERS. Beneficiary waives any right to require Lender. {q) to make, extend, renew, or modify any
<br /> loan to 6orrower or to grant any other financial accommodationS to Borrower whatsoever; (B) to make any
<br /> presentment, protest, demand, or noYice of any kind, including noti:ce of any nonpayment of any Superior Indebtedness
<br /> secured by Lend�er's Lien, or notice of any action or nonaction on ihe part of Borrower, Lender, any surety, endorser, or
<br /> other guarantor in connection with the Superior Indebtedness, or in connection with the creation of new or additional
<br /> indebtedness, (C) to resort for payment or to proceed directly o�r at once against any person, including Borrowe.r, (D)
<br /> to proceed directly against or exhaust any collateral. held by Lender firom Borrower, any other guarantor, or any other
<br /> person; (E) to give notice of the terms, time, and place ofi any public or privaie sale of personal property security held
<br /> by Lender from Borrower or to compiy with any other applicable provisions of the Uniform Comm�.ercial Code; (F) to
<br /> pursue any other remedy within LendePs power; or (G) to commit any act or omission of any kind, at any ti:me, with
<br /> respect to any matter whatsoever.
<br /> LENDER'S RIGHTS�_ Lender may take or omit any and all actions with respect to Lender's Lien�witF�out affecting
<br /> whatsoever any of Lender's rights under this Subordination. Fn particular, without limitation, Lender may, without
<br /> notice of any Icind to Benefiiciary, (A) malce one or more additional secured or unsecured loans to Borrower; (B)
<br /> repeatedly a�her, compromise, renew, extend, accelerate, or otherwise change the time for payment or other terms of
<br /> the �u�p�,e,rio�ln,deb'tedness or any part of it, induding increases a�nd decrease„s ofirth,e rate ofi interest on the Superior
<br /> Indeti�'atl�'e�s�s;'se�tensigns rrr�y.:lae��'repeated and may be for lonc3-ed T,�a��.�rigi�i�l'loan term; (C) take and nold
<br /> collateral for the payment of the Superior lndebtedness, and exchange, enforce, waive, and release any such collateral,
<br /> with or without the substitution of new colla'teral; (D) release, subs'[itute, agree not to sue, or deal with any one or
<br /> more of Borrower's sureties, endorsers, or guarantors on any terms or manner Lender chooses; (E) determine how,
<br /> when and wnat application of payments and cred�its, snall be made on the Superior Indebtedness; (F) a�pply sucn
<br /> security and direct the order or manner of sale of the security, as Lend�er in its dis��cretio�n may determine; and (G)
<br /> transfer this Subordin�ation to another party�.
<br /> DEFAULT BY BORROWER�. If Borrower becomes insolvent or bankrupt, this Subordination shall remain in full force and
<br /> effect. In the event of a corporate reorganization o�r corporate arrang:ement of Borrower under the provisions of the
<br /> Bankruptcy Gode, as amended, this Subordination shall remain in full force and effect and the court having jurisdiction
<br /> over the reorganization or arrangement is hereby authorized to preserve such priority and subordination provided under
<br /> this Subordination in approving any such plan of reorganization or arrangement. Any default by Borrower under the
<br /> te:rms of the Subordinated Inde6tedness also shall constitute an event of default under the terms of the Superior
<br /> Indebtedness in favor of Lender. �
<br /> MISCELLANEOUS PROVISIONS. The follow�ing miscellaneous provisions are a part of this Subordination:
<br /> Amendments. This Subordination constitutes the entire understanding and agreement of the parties as to the
<br /> matte�rs set forth in this Subordination. No alteration ofi or amendment to this Subordination shall be effiective
<br /> unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or
<br /> amendment.
<br /> Attomeys' Fees; Expenses_ Ifi Lender institutes any suit or action to enfiorce any ofi the terms of this
<br /> Subordination, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees
<br /> at triai and upon any appeal. Wheifier or not any court actiori is involved, and to the extent not prohibited by law,
<br /> all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time fior the protection of its
<br /> interest or the enforcement of its rights shaii become a part of the Indebtedness payable on demand and sHall bear
<br /> interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include,
<br /> without limitatio�n, however subject ro any limits under applicable law, Lender`s attorneys' fiees and Lender's legai
<br /> expenses, whether or not �there is a laws�uit, induding attorneys' fees and expenses for bankruptcy proceedings
<br /> (including.efforts to modify or vacate any automatic stay or injunction); appeals, and any anYicipated post-judgment
<br /> colleciion services, the cost ofi searching records, obtaining title reports (including foredosure reports), surveyors'
<br /> reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law_
<br /> Beneficiary also will pay any court costs, in addition to ail other sums provided by law.
<br /> AutNority. The person who signs this Su:bordi�nation.as or on behalf of Beneficiary represents and warra�ts that he
<br /> or she has authority to execute this Subordination and to subordinate the Subordinated Intlebtedness and the
<br /> Beneficiary"s securety Fnt�resis in Bene#iciary's property, if any..
<br /> Caption Headings. Caption headings in this Subordination are for convenience purposes only and are not to be
<br /> used to interpret or define the provisions of Lhis Subordi�nation.
<br /> Governing Law. This Subordination will be governed by federal law applicable to Lender and, to the extent not
<br /> preempted by federal law,[V�e laws of the State of Nebraska without regard to its conflicts of law provisions. This
<br /> Subordination has been accepted by Lender in the State of Nebraslca.
<br /> Choice o�Venue_ If there is a lawsuit, Beneficiary agrees upon Lender's request to subrnit to the jurisdiction of the
<br /> courts of Hall County, State of Nebraska. �
<br /> Successors. This Subordination shall extend to and.bind the respective heirs, personal representatives, successors
<br /> and assigns of the parties to this Subordination, and the covenants of Beneficiary herein in favor of Lender shall
<br /> extend to, inciude, antl be enforcea6le by any transferee or endorsee to whom Lender may transfer any or ai!of the
<br /> Superior Indebtedness.
<br /> No Waiver 6y Len�ar. L�ender sha�ll not be deemed to have waived a�y rights under this Subordination unless such
<br /> waiver ds given in writing and signed by Lender. No delay or omission on tne part ofi Lender in exercising any rigfit
<br /> shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Subord�ination
<br /> shall not prejudice or consCitute a waiver of Lender`s right otherwise to demand strict compliance with that
<br /> provision or any other provision of this Subordination. No prior waiver by Lender, nor any course of dealing
<br /> 6etween Lender and Beneficiary, shall constitute a waiver ot any of Lender's rights or ofi any of geneficiary's
<br /> . obligations as fio any future transactions. Whenever the consent of Lender is required under this Subordination,the
<br /> granting of such consent by Lender in any instance snall not constitute continuing consent to subsequent instances
<br /> where such consent is required and in all cases such consent may be granted or withheld in the so�le discretion of
<br /> Lender.
<br /> Waive Jwry� AII partfes to this Subordination hereby waive the right Yo any jury trial en any acteon. proceeding, or
<br /> counterclaim brought by any party against any other par'ty_
<br /> EACH PARTY TO THIS SUBOORDIIV.4TION ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS
<br /> SUBORDINATiON, AIVD EACH PARTY AGREES TO ITS TERMS_ THIS SUBORDINATION IS DATED JULY 3L
<br /> 2092
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