|
201207755
<br /> DEED OF T63UST
<br /> Loan No: 8100'i'I'B 5 (COittinueC9j Page 6
<br /> Trustee or Lender, it being agreed that Trustee and Le-nder, and each of them,shail be entitled to enforce this Deeci
<br /> of Trusi and any other security now or hereafter heid by Lender or Trustee in such order and manner as they or
<br /> either ot them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or
<br /> Lender, is� intended to be exclusive of any other remedy in this Deed of Trust or by law provided or permitted, but
<br /> each shali be cumulative and shail be in addition. to every other remedy give�n in this Deetl of Trust or now or
<br /> hereafter existing at law or in equity or by s[atute. Every power or remedy given by the Note or any of the Related
<br /> Documents to Trustee or Lender or to which either of them may be otherwise eniitled, may be exercised,
<br /> concurrently or i.ndependently, from �time f.o time and as often as may be deeme�d expedient by Trustee o�r Lender,
<br /> and either of tnem may pursue i.nconsistent remedies. Nothing in this Deed of Trust shall be construed as
<br /> prohibiting Lender from seeking a defici:ency judgment against the Trustor to the extent such action is permitted by
<br /> Law. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to
<br /> make expenditures or to taI<e action to perform an obligation of Trustor under this Deed of Trust, after Trustor's
<br /> failure to perform, shall not afifect Lender's right to dedare a defiault and exercise its remedies.
<br /> Request for Notice. Trustor, on 6ehaif of Trusior and Lender, hereby requests that a copy of any Notice of Defauit
<br /> and a copy of any Notice ofi Sale under 2his Deed of Trust be mailed to them at the addresses set forth in the fiirst
<br /> paragraph of this Deed of Trust.
<br /> Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of
<br /> Trust, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial
<br /> and upon any appeal. Whethe:r or not any court action is involved, and to the extent not prohibited by law, all
<br /> reasonable expenses Lender i.ncurs that in Lender's opinion are .necessary at any time for the protiection of its
<br /> interest or the enforcement ofi its rights shall 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 limitation, however subject to any limits under applicable law, Lender's attorneys' fees and LendePs legal
<br /> expenses, whether or not tnere is a lawsuit, induding attorneys' fees and expenses for bankruptcy proceed�ings
<br /> (including efforts to modify or vacate�any automatic stay or injunction), appeals, and any anticipated post-judgment
<br /> collection services, the cost ofi searching records, obtaining title reports (including foreclosure reports), surveyors'
<br /> reports, and appraisal fees, title insurance, 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 /> Righ4s of Trustee. Trustee shali have all of the rights and duties of Lender as set forth in this section.
<br /> POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee
<br /> are part of this Deed ofi 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 Yhe Property upon the written request ofi Lender and Trustor. (a)join in
<br /> preparing and filing a map or plat ofi the Real Property, including tne dedication of streets or other rights to the
<br /> public; (b) join in granting any easement or creating any restriction on tne Real Property; and (c) join in any
<br /> subordirtation or other agreement affecting this Deed ofi Trust or tne interest of Lender under tnis Deed of Trus[.
<br /> Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. in addition to the rights
<br /> and remedies set fiorth above, with respect to alI or any part ofi the Property, the Trustee shall� have the right to
<br /> foreclose by noti�ce and sale, and Lender shall have the rignt to foredose by judicial foredosure; in either case in
<br /> accordance with and to the full extent provided by applicable law.
<br /> Successor Trustee: Lender, at Lender's option, may from time to•time appoint a successor Trustee to any Trustee
<br /> appoi��nted under this Deed of Trust by an instrument executed and acknowledged 6y Lender and recorded in the
<br /> office of tihe recorder of HALL County, State ofi Nebraska. The instrument shall contain, in addition to all other
<br /> matters required by state law, the names of tne original Lender, Trustee, and Trustor, the 600k a�nd page (or
<br /> computer systern reference) where this Deed of Trust is recorded, and. the name and address of the successor
<br /> trustee, and the instrument shall be executed and acicnowiedged by all tne beneficiaries under this Deed of Trust or
<br /> their successors in interest. The successor trustee, without conveyance ofi tne Property, snall 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 /> substituti�on ofi Trustee shall govern to the exclusion of all other provisions for su6stitution.
<br /> NOTICES. Any notice required to be given under this Deed of Trust, including without li�miiation any notice ofi defiault
<br /> and any notice of sale shall be given in writing, and shall be effec�ive when actually delivered, when actuaily received
<br /> by telefacsirnile (uniess otherwise required by law), when deposited with a national:ly re:cognized.overni�ght courier, or, if
<br /> mailed, when d.eposited in the United SYates mail, as first dass, certified or registered mail postage prepaid, d�irected 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 iien which has priority over this Deed of Trust shall be sent to Lender's addtess, as shown near the beginning of
<br /> this Deed of Trust. Any party may change its address for noti�.ces under this Deed of Trust by giving formal writien
<br /> notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice
<br /> purposes, Trustor agrees to keep Lender informed at all times of Trustor's current address. Unless otherwise provided
<br /> o�r requited by law, if tnere is more than one Trustor, any notice given by Lender to any Trustot is dee�med to be notice
<br /> given.to all Trustors.
<br /> MISCELLANEOUS PROVISIONS. The foliowing misceilaneous provisions are a part ofi this Decd of Trust:
<br /> Amendmsnts.. This Deed of Trust, together with any Relate.d Documents, constitutes the entire understanding and
<br /> agreement of the parties as to the matters set forth in th:is Deed of Trust. No alteration of or amend�ment to this
<br /> Deed of Trust shaJl be effective unless given in writing and signed by the party or parties sought to be charged or
<br /> bound 6y the alteration or amendment.
<br /> Annual Reports. If the P�operty is used for purposes ather than Trustor`s r�sidence, Trustor shall fumish to
<br /> Lender, upon request, a certified statement of net operating income received from the Property during TrusYor's
<br /> previous fiscal year in such form and detait as Lender shall require. "Net operating income" shall mean all cash
<br /> receipts firom the Property less all casn expendi:tures made in connection with the operation of ihe Prope�rty.
<br /> Gaption Headings. Caption headings in Yhis Deed of Trust are for convenience purposes only and are not to be
<br /> used to i�nterpret or define the provisions of this Deed ofi 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 any time held by or for the benefit ofi Lender in any capacity, without tne written consen2
<br /> of Lender. .
<br /> Governing Law. This Deed of Yrust will be governed by federal law appficable to Lender and,to the extent not
<br /> preernpted by federal law,the laws of the State of lVebraska without regard to its conflicts of law provisions. Thes
<br /> Deed of Trust has been accepted by Lender in the Sta4e of Nebraska.
<br /> Choice of Venue. Ifi tf�ere is a lawsuit, Trustor agrees upon Lender`s request to submit to �the jurisdi.ction of the
<br /> courts of Hali County,SYate of Nebraska.
<br /> Joint and Several Liability_ All obligations of Borrower and Trustor under this Deed of Trust snall be j�oint and
<br /> several, and all references to Trustor shall mean each and every TrusYor, and all references to Borrower shall mean
<br /> each and every Borrower. This means that each Trustor signing below is responsible for all obligations in this Deed
<br /> of Trust.
<br />
|