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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. <br />