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200103,19
<br />Trustorts) rnd mach of them further covenirma an3 sgraaa w1th Pen ficfary ax to'a .. rs•
<br />1. To lsny all Bent, iudgrnents, or other assessments against the property, c id to pay when due aN essaasmel'•� ;, taxes, rents, fees, or charges upon
<br />the prcfert•/ of under tiny lease, permit, license, or privilege assigned to Banefctgry as additional secirrity•to this Trust Deed, including Vt cse in or
<br />on,va lore Svmefn.
<br />2. To i,tsure and kpap insured WiUngs and other improvements ktctudiN fixtures and attachments now on Or hereafter placed on the property to
<br />the satisfaction of Beneficiary. Such insurance will be approved by and depos�ud with Beneticiary, and r,•rdorsed with loss payaste clauaa tc
<br />Beneficiary. Any sums so received by BanafiC ary may be used to pry for racr n :truction of the destroyed improvements or it not to apple may
<br />be applied, at the option of Banefictary, in pa ant of any indebtedness -natured or unmatured sec and by this Trust Deed. Such insurence will be
<br />in an amount at least equal to the lasser of the loan balance, the actual cash value of ttta collateral, or" replacement cost of the praparty, and
<br />will at a mir;imum, cover losses caused by tire, lightning, explosion; -lot, aircraft, *steins, vandalism, Civil commotion, smoke, rrind%torm, and hair,
<br />7rustorlsl will obtain and keep flood Insurers in force to Cover bases by flood as required by Beneficiary and by the National Float Insurance Act
<br />of 1968, as amended• and by regulations implementing the sarrw. Trustof(s) furt,'1er agree that Beneficiary is not and will not be liable for any failure
<br />by Trustor(e) cr by any insurer, for whatever reason, to obtain and keep this i nstirance in force.
<br />3. To keep all buildings, fixtures, attachments, and other imprevements now on or hereafter placed on tt+p property occuplad a'rd in good repair,
<br />maintenance, and condition and to neither commit not permit any acts of waste or any impairment of ze value of the property. Beneficiary may
<br />enter upon the property to inspect the same or to perform any acts authorized herein or in the toan agreement($).
<br />4. in the event Trustorts) fails to pay Any liens, judgments, assessments, taxes., rents, fees, or charges cr maintain any Insurance on the property,
<br />buiidinaa, fixtures, attachments, or improvements as provided herein or in the ban agreement(s), Beneficia: y, at its option, may m:t%a such payments
<br />rr provide insurance, maintenance, Of repairs and an, amounts paid therefor will become part of the pttncipal Indebtedness tacured hereby, be
<br />irymediat3ly due and payable Lind bear Interest at the default rate provided in the notes) from the dete of pavment until paid, The advancement by
<br />Beneficiary of shy such amounts will in no mariner iir.At the right of Beneficiary to declare Trustor(s) in default or exorcise any of Beneficiary's other
<br />rights arxi remedies.
<br />S. In the event Beneficiary is a party to any litigation• affecting the property or the lien of this Trust Deed, including any action by Ban efi;iery to
<br />enforce this Trust Doed or any suit in which Beneficiay Is named a defendant (including condemnation and bankruptcy proceedings) 3enericlary
<br />may incur expenses and advance payments tot abstrac. fees, attorneys fees ito the extent allowad by taw), costs, expenses, appraisal leas, and
<br />other charges and any amounts so advanced wilt became t ±ft of the principal indebtedness secured hereby, be immediately due and payable and
<br />boar interest at the defau)t rate provided in the nota(s) from the date of advance until paid.
<br />6. Any awards made to Trustor(s) or their successors by the exercise of eminent domain are hereby assigned to Beneficiary; and Beneficiary is
<br />hereby authorized to collect and apply the as" in payment of any indebtedness, mature or umnatured, secured by this Trust Deed.
<br />7. in the evert of default in the payment when due off any sums secured hereby (principal, Interest, advancements, or protective advances), of failure
<br />to perform or observe any covenant.- and conditions contained herein, in the note(si, loan agreementis), or any other instruments, or any proceedings
<br />is Lrought under any Bankruptcy laws-, SQ."ficiary, at its option, may deciisre the entire indebtedness secured hereby to be immediately due and
<br />payab e anc to whole will bi)sr interest at the default rate as provided In the hotels) and Beneficiary may immediately authorize Trustee to exercise
<br />the Poy;er of Sala granted herein in the msnntr provided in the Nebraska Trust Deeds Act, or, at the option of the Beneficiary, may foreclose the
<br />Trust Dc ^d in the manna: provided by law for the foreclosure of mortgagas on real property, including the appointment of a Receiver upon ex pane
<br />app4cation, notico being hereby expresaly waived, without regard to the vahue of the property or the sulticiently thereof to d!sahargo the
<br />noebtodness sa_cu ed hereb or in the lean agreement(s) . Delay by Beneficiary in exercising its rights upon default will not be construed as a waiver
<br />thereof and any act of Sare.iciary waiving any s eifiod default will not be construed as a waiver of any future default. if the proceeds under such
<br />sale or forcc:osu; a are insufficient to pay the total indebtedness secured hereby, Trustor(e) do hereby agree to be personally bound to pay the unpaid
<br />balance, and Beneficiary will be entitled to a deficiency judgment.
<br />A. Should Beneficiary elect to exercise the f ower of 5810 grantee+ heroin, Beneficiary will notify Trustee who will record, publish, and deliver to
<br />Trustor(s) such Notice cf Default and Notice of Sale as then required by law and will in the manner provided by law, sell the property at the time
<br />and place of sale fixed in the Notice of Sale, either as a whole or in separate lots, parcels, or items and in such order as Trustee will deem expedient.
<br />A.ny pparson may bid at the seta including Trustar(si, Trustee, or Beneficiary.
<br />9. 7rustor(s) hereby requests a copy of any Notice of Default or Notice of Sala hereunder to be mailed by certified mail to Tnrstor(s) at the
<br />addressles) set forth herein.
<br />10. Upon default, Beneficiary, either in petspn or by agent, with or without bringing any action or proceeding and with or -without regard to the value
<br />of the property or the sufficiency thereof to discharge the indebtedness secuicu rrcr --hv; is authorized and entitled to enter upon and take possession
<br />of the property m its own name or in the Hama of the 7rustale and do any acts or expend aa� sums it deems necessary or desirable to protect or
<br />preserve t> a va)ue of the props ty or errs interest Literal.+, or increase the income therefrom., ens with or without taking possession of the property
<br />is authorized to sue for or oti arwiso collect the rer,_s, isRuza, crops. profits, and income thereof, e.`luding those past due and unpaid, and apply
<br />the same upon any indebtedness secured hereby or A the loan agreement(s).
<br />Kc remedy herein conferred .rpon or reserved to Trustee or Beneficiary is intended to be exclusive of any cthar remedy herein or by law provided
<br />or -crmitted, but each wi)f lot cumulative, wilt be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity
<br />or �y statuta, and may be exorcised concurrently, independently or successively.
<br />11. Trustor(s) acknowledges that the duties and obligations of Trustee will be determined solely by the express i.mvisfons of this Trust Deed or
<br />the Nebraska Trust Deeds Act a.nd Trustee will not be liable except for the performance of such dupes and obfigaturr :s as are specifically set forth
<br />therein, and no implied covenants or obligations will be imposed upon Trustee; Trustee will not be Ilaale for any action lion by it In goad faith and
<br />reasonably believe! by it to he authorized or within the discretion or rights of powers conferred upon it by this Trust Deed or state law.
<br />12, Tho integrity and responsibility df Trustorts) constitutes a part of the consideration tar the obligations secured hereby. Should Trustorts) sell,
<br />transfer, or convoy the propem/ descrbed herein, without prior written consent of Beneficiary. Benel :ciaryR.at its rip: on, mry declare the entire
<br />indebtedness immediately dull and �ayablo and may proceed in the onforeement of its rights as on w.nv other default.
<br />13, Assignment of Rents including r roceads of Minoral Leases. Trustor(s) hereby assigns, transfers, and conveys to Beneficiary all rents, royalties,
<br />bonuses, and delay monays or other proceeds that may from time to time become due and payable uncc r any real estate lease or under any oil, gas,
<br />gray.l, rock, or ether mineral lease of any kind inciWing geothermal resources now existing or that r- iy hereafter come Into existence, Covering
<br />:nu proporty or any part thereof. All such sums so received by Beneficiary will be applied to the inC•.resfodn0ss secured hereby; or BenOficiary, at
<br />its oP:i^n, may turn over and deliver to Trostorts) or their successors in interest, airy or all of such aurna without prejudice to any of °cneficiary's
<br />ri ;fits to take and rota;r. future sums, and without prejudice to any of its other rights under this Trust Dw ed. This assignment will be construed to
<br />be a provision for the payment or reduction of th3 debt, Subject to the Beneficiary's option as hereinb. -,'are orovieAd, independent of the lien an thv
<br />property. Upon payment in full of the debt and the reconvayance of this Trust Deed of record, this a,signment will become inoperative and of no
<br />further force and effect.
<br />14. `his Trust Deed constitutes a Security Agreement with respect to all the property described herein.
<br />',6. Tho covenants contained in this Trust Deed will be aoerred to be severable; in the event that any portion of this Trust Deed is determined to
<br />be v�ad r eablo, that determination will not fact the validity of the remaining portions of the Trust Deed.
<br />Fxtrxac ,, ,c uvo
<br />IND(ViDLIAL BORROWER ACKNOWLEDGM1221T
<br />STATE OF NEB111 'AS uA )
<br />as
<br />COUNTY OF _)
<br />On this 9 th _ day of A2gl 2001: before me, a Notary Public, personally appeared
<br />Patrick J McGuire
<br />to me known to be the person(s) named in and who executed the foregoing Instrument, and acknowledged that he executed tte- same at
<br />_hie_ volunte;y a
<br />UKEflf�1 NOTARY -Sttte of Nebraskl '
<br />)') LANCE G, HEHNER `<
<br />ISfAI) fit Uy Cvrun. Exp. Jsay 3, N}02 r� (i
<br />!Type name underslpnarurel
<br />fill( r orwrik5ion expires -P- t, : t Notary Public In and for said C .-unty and State
<br />INDIVIDUA BORROWER A 'KNOWiEWMENT
<br />STATE OF /V
<br />its 5 �C
<br />I as
<br />couNry of
<br />Ap P; 00219380; Primary Customer 10 A: 00052320; CIF X: 38540 Legal Doc. Date: April 02, 2001
<br />FOR'1 '--,Cl 1, Trust Oonl and Assignmrnt of Rena Page 2
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