10-27-2000 200100013 DEED OF TRUST Page 5
<br />Loan No 25983 (Continued)
<br />Trust as Trustee may require.
<br />(a) _Upon receipt of such notice from Lender, Trustee shall cause to be recorded, published and delivered to Trustor such Notice of Default
<br />and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall, without demand.on Trustor,, after such, time as may
<br />..then be required bylaw and after recordation of such Notice of Default and after•Notice of Sale having bean given as required bylaw, sell
<br />the, Property et the, time and place of sate tbked by It in such yotice of Sale, either - as a while, grin separate bts or perceis or it as
<br />Trustee shall deem expedient, and in,such order as,it may determine, at public auctjon to tt;e highest bidder for cash 1p•lawful,-money of
<br />the United States payable at the time of sale.` Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient rleed or
<br />deeds conveying the property so sold, but without any covenant' or warranty, express or impled.. The recitals in such deed'of arty matters
<br />or facts shall be conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee; or Lender, may
<br />purchase at such sale.
<br />(b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, including costs of evidence of
<br />title in connection with sale, Trustee shall apply the proceeds of sale to payment of (1) all sums expended under the terms of this Deed of
<br />Trust or under the terms of the Note not then repaid, including but not limited to accrued interest and late charges, (ii) all other sums then
<br />secured hereby, and (IN) the remainder, if any, to the person or persons legally entitled thereto.
<br />(c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br />Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and performance of any indebtedness
<br />or obligations secured by this Deed of Trust and to exercise as rights and powers under this Deed of Trust, under the Note, under any of the
<br />Related Documents, or under any other agreement or any taws now or hwaobr,f1dlF aiky tadld
<br />and obligations secured of st�m „poW,_hsrftgl pe tense tired vltettx�jy;
<br />�ift'6?� tarwise :” N �ncm oof �i s' Geed of Trust nor its enforcement; whether by court action or pursuant to the power of
<br />sale or other powers contained In this Deed of Trust, shall prejudice or in any manner affect Trustee's or Lender's right to realize upon or
<br />enforce any other security now or hereafter held by Trustee or Lender, it being agreed that Trustee and Lerldsr, and each of them, shall be
<br />entitled to enforce this Deed of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
<br />either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or Lender, Is Intended to be
<br />exclusive of any other remedy M this Deed of Trust or by law provided or permitted, but each shall be cumulative and shall be in addition to
<br />every other remedy given In this Deed of Trust or now or hereafter existing at law or in equity or by statute, Every power or remedy given by the
<br />Note or any of the Related Documents to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised,
<br />concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Lender, and either of them may
<br />pursue Inconsistent remedies. Nothing in this Deed of Trust shall be construed as prohibiting Lender from seeking a deficiency judgment
<br />against the Trustor to the extent such action is permitted by law:
<br />Request For Notice. Trustor, on behalf of Trustor and Lender, hereby requests that a copy of any Notice of Default and a copy of any Notice
<br />of Sale under this Deed of Trust be mailed to them at the addresses set forth in the: first paragraph of this Deed of Trust.
<br />Waiver; Election of Remedies. • A waiver by any party of a breach of a provision of this Deed of Trust shah not constitute a waiver of or
<br />prejudice the party's rights otherwise to demand strict compliance with that provision or any other provision. Election by Lender to pursue any
<br />remedy provided in this Deed of Trust, the Note, in any Related Document, or provided bylaw shall not szclude pprsult of any other remedy,
<br />and an election to make expenditures or to take action to perform an obligation of Trustor under fills Cesd of Trust after failure of Trustor to
<br />perform shall not affect Lender's right to declare a default and to exercise any of its remedies.
<br />Rights of Trustee. Trustee shall 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 are part of this Deed of
<br />Trust.
<br />Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take the following actions
<br />with respect to the Property upon the written request of Lender and Trustor: (a) join in preparing and filing a map or plat of the Real Property,
<br />Including the dedication of streets or other rights to the public; (b) join in granting any easement or creating any restriction on the Real Property;
<br />and (c) join in any subordination or other # d of 1F tur the of WxW this Deed of Trust.
<br />Yruataae. Trustee shall mW -all qualifications required for`Trustee under applicable law. In addition tolhe righlts'ttnd fbmedies sef forth "above,
<br />with respect to all or any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender shall have the right to
<br />foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law.
<br />Successor Trustee. Lender, at Lander's option, may from time to time appoint a successor Trustee to any Trustee appointed hereunder by an
<br />Instrument executed and acknowledged by Lender and recorded in the office of the recorder of BUFFALO County, Nebraska. The instrument
<br />shall contain, in addition to all other matters required by state law, the names of the original Lender, Trustee, and Trustor, the book and page (or
<br />computer system reference) where this Deed of Trust Is recorded, and the name and address of the successor trustee, and the instrument shall
<br />be executed and acknowledged by all the beneficiaries under the Deed of Trust or their successors In Interest. The successor trustee, without
<br />conveyance of the Property, shall succeed to all the title, power, and duties conferred upon the Trustee In that Deed of Trust and by applicable
<br />law. This procedure for substitution of trustee shall govern to the exclusion of all other provisions for substitution. ,
<br />NOTICES TO TRUSTOR: AND OTHER PARTIES. Any notice under this Deed of Trust shall be In writing, may be sent by telefacsimfie (unless
<br />otherwise required by law), and shall be effective when actually delivered, or when deposited with a nationally recognized ovemight courier, or, If
<br />mailed, shall be deemed effective when deposited in the United States mail first class, certified or registered mail, postage prepaid, directed to the
<br />addresses shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal
<br />written notice to the other parties, specifying that the purpose of the notice is to change the party's address. All copies of notices of foreclosure from
<br />the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning of this Deed of Trust.
<br />For notice purposes, Trustor agrees to keep Lender and Trustee informed at all times of Trustor's current address.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />Amendments. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties as
<br />to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing and
<br />signed by the party or parties sought to be charged or bound by the alteration or amendment.
<br />Annual Reports. If the Property Is used for purposes other than Trustees residence, Trustor shall furnish to Lender, upon request, a certified
<br />statement of not operating Income received from the Property dun Trustor's prwlr flscAjr. inNGh. f�r�s�and.cfpp,as_lendM shall
<br />require. ''flet operating ihcome" shaft mean aWcash- recetotsirom"tl'i6 rep r ji less all gash expendiiu'res makie In connection with the operation
<br />of the Property.
<br />Applicable Law. This Deed of Trust has been delivered to Lender and accepted by Lender in the State of Nebraska. This Deed of Trust
<br />shall be governed by and construed In accordance with the laws of the State of Nebraska.
<br />Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the
<br />provisions of this Deed of Trust.
<br />Merger. There shall be no merger of the interest or estate crested by this Deed of Trust with any other interest or estate in the Property at any
<br />time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
<br />Multiple Parties. All obligations of Trustor under this Deed of Trust shall be joint and several, and all references to Trustor shall mean each and
<br />every Trustor. This means that each of the persons signing below is responsible for all obligations in this Deed of Trust.
<br />SeverabiNty: If a court of competent jurisdiction finds any provision of this Deed of Trust to be invalid or unenforceable as to any person or
<br />circumstance, such finding shall not render that provision Invalid or unenforceable as to any other persons or circumstances: 'If feasible, any
<br />such offending provision shall be deemed to be modified to be within the limits of enforceability or validity; however, if the offending provision
<br />cannot be so modified, it shall be stricken and all other provisions of this Deed of Trust in all other respects shall remain valid and enforceable.
<br />Successors and Assigns. Subject to the limitations stated in this Deed of Trust on transfer of Trustees Interest, this Deed of Trust shall be
<br />binding upon and Inure to the benefit of the parties, their successors and assigns. If, ownership of the Property becomes vested in a person
<br />other than Trustor, Lender, without notice to Trustor, may deal with Trustoes successors with reference to this Deed of Trust and the
<br />Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of Trust or Usbillity under the
<br />Indebtedruss.
<br />Thvw Is of the Essence. Time Is of the essence in the performance of this Deed of Trust.
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