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201210850
<br />fees, evidence of title and other sale expenses, and a trustee's fee not to exceed one percent
<br />(1 %) of the gross sale price;
<br />(2) To the payment of the obligation secured by this Deed of Trust and Trust Deed Note;
<br />(3) To the payment of junior trust deeds, mortgages or other lienholders;
<br />(4) The balance, if any, to the person or persons legally entitled thereto.
<br />E. Upon the occurrence of any default hereunder, BENEFICIARIES shall have, in addition to such other
<br />options as may be granted herein, the further option to foreclose this Deed of Trust in the manner
<br />provided by law for foreclosures of mortgages on real property.
<br />F. BENEFICIARIES may from time to time substitute a successor or successors to any TRUSTEE
<br />named herein or acting hereunder. Upon such appointment, and without conveyance to the successor
<br />TRUSTEE, the latter shall be vested with all title, powers, and duties conferred upon any TRUSTEE
<br />herein named or acting hereunder. Each such appointment and substitution shall be made by written
<br />instrument and executed by BENEFICIARIES, containing reference to this Deed of Trust and its
<br />place of record, which, when recorded in the office of the Register of Deeds of the county or counties
<br />in which said property is situated, shall be conclusive proof of proper appointment of the successor
<br />TRUSTEE. The foregoing power of substitution and the procedure therefore shall not be exclusive of
<br />the power and procedure provided for by law for the substitution of a TRUSTEE in the place of the
<br />TRUSTEE named herein.
<br />G. TRUSTORS covenant and agree that upon any attempted conveyance, assignment, pledge or transfer
<br />of any of their interest in the premises during the term of the loan secured hereby, the
<br />BENEFICIARIES shall have the option of declaring the unpaid balance immediately due and
<br />payable, and if said sum remains unpaid for ten (10) days thereafter, BENEFICIARIES can cause
<br />Notice of Default to be given and the premises be sold as provided herein.
<br />H. As additional and collateral security for the loan, and effective forthwith upon filing of a Notice of
<br />Default, this instrument shall serve as an assignment by the TRUSTORS to the TRUSTEE, of all
<br />rents and revenues resulting from the property, and TRUSTEE is authorized to take possession of the
<br />property, rent or lease the same on terms he deems best and to collect the rents and revenues and
<br />apply the same upon unpaid interest, principal, taxes or insurance premiums or for maintenance and
<br />preservation of the premises.
<br />I. The waiver by TRUSTEE or BENEFICIARIES of any default of TRUSTORS under this Deed of
<br />Trust, on one occasion, shall not be or be deemed to be a waiver of any other or similar defaults
<br />subsequently occurring.
<br />J. If title to any part of the property herein shall be taken in condemnation proceedings, by right of
<br />eminent domain, or similar action, or shall be sold under threat of condemnation, all awards, damages
<br />and proceeds are hereby assigned and shall be paid to the BENEFICIARIES, who shall apply such
<br />payment, or any part thereof, in their sole discretion, to the sum due at that time on this Deed of Trust
<br />and Trust Deed Note, with any balance above the amount due hereunder payable to the TRUSTORS.
<br />K. The BENEFICIARIES, their agents or representatives, are hereby authorized to enter, at any
<br />reasonable time, upon any part of the trust property for the purposes of inspecting the same and for
<br />the purpose of performing any of the acts they are authorized to perform under the terms of this Deed
<br />of Trust and other accompanying documents.
<br />L. This Deed of Trust and all accompanying documents are subject to, constructed and governed by the
<br />laws of the State of Nebraska for all purposes.
<br />M. In the event any one or more of the provisions contained in this Deed of Trust, Trust Deed Note, or
<br />any other instrument given in connection with this transaction, shall for any reason be held to be
<br />invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall, at
<br />the option of the BENEFICIARIES, not affect any other provisions of this Deed of Trust or Trust
<br />Deed Note, but this Deed of Trust and Trust Deed Note shall be construed as if such invalid, illegal or
<br />unenforceable provision had never been contained therein, it being the intention of the parties that the
<br />provisions of this Deed of Trust are declared to be severable.
<br />N. TRUSTORS hereby waive their right to designate the property subject to this Deed of Trust as a
<br />homestead under Neb. Rev. Stat. §40 -101 (Reissue 1993).
<br />O. This Deed of Trust shall inure to and bind the heirs, devisees, personal representatives, successors and
<br />assigns of the parties hereto.
<br />The TRUSTORS request that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to
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