|
I
<br />89-- 100516
<br />14. SUCCESSOR9 D A IgNS R011 F Mpi—MUT ARD 9EVERAT, ..
<br />CAPTIONS. The covenants and agreements herein contained shall bind,
<br />and the rights hereunder shall inure to, the respective successors and
<br />assigns of Lender and Borrower, subject to the provisions of Paragraph
<br />18 hereof. All covenants and agreements of Borrower shall be joint
<br />and several. The captions and headings of the paragraphs of this Deed
<br />of Trust are for convenience only and are not to be used to interpret
<br />or define the provisions hereof.
<br />15. NQTICE. Except for any notice required under applicable lair
<br />to be given.in another manner, (a) any notice to Borro notice addressed
<br />r provided for
<br />in this Deed of Trust shal•1 be given by mailing such
<br />to Borrower at 2546 South 48th Street, Suite 6, Lincoln, Nebraska
<br />68506 or at such other address as Borrower may designate by notice to
<br />Lender as provided herein, and (b) any such notice to Lender shall be
<br />given by mailing such notice to Lender at 3883 Normal Boulevard., Suite
<br />204, Lincoln, Nebraska 68506, or to such other address as'Le3lder may
<br />designate by :notice to Borrower as provided herein. Any notice
<br />provided for in this Deed ..of Trust shall be deemed to have been given
<br />to Borrower or Lender when given in the manner designated herein.
<br />16. UNIFORM p EED OF TRUST; GMRNINr LAW• SMMRA&ILLU. ,.This
<br />form of Deed of Trust combines uniform covenants for national use and
<br />non - uniform, covenants with limited variations by jurisdiction to
<br />constitute-, "a uniform security instrument covering real property. In
<br />the event that any provision or clause of this Deed of Trust or the
<br />Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Deed of Trust or the Note which can be given
<br />effect without the conflicting provision, and to this end the
<br />pros; s,i nnQ. cu of Trust and the Note are declared to be
<br />severable. This Deed of Trust shall be governed by all applicable
<br />Federal Home Loan Bank Board and governmental regulations.
<br />17. BM RCS cOPd. Borrower shall be furnished a conformed
<br />COPY of the Note and of this Deed of Trust at the time of execution or
<br />after recordation hereof.
<br />18 • �'$ANSFER OF TF4i� pAAPERTY ASEU a. ION If the Borrower or
<br />any successor in interest to the Property should, without the prior
<br />written consent of the Lender, sell, convey, transfer, or alienate the
<br />Property, or any part thereof, or any interest therein, or be divested
<br />Of its title or any interest therein in any manner, whether voluntary
<br />or involuntary, or if the Borrower or any successor in interest to the
<br />Property is a corporation, partnership, or joint venture, and more
<br />than fifty., percent (50 %) of the ownership of the corporation,
<br />partnership,; or joint venture is, without the prior written consent of
<br />the Lender, sold, conveyed, transferred or alienated, either
<br />voluntarily or involuntarily, then the Lender shall have the right at
<br />its sole option to declare any and all indebtedness or any other
<br />obligation secured hereby, immediately due+..and payable.
<br />.K0t less than thirty (30) dabs pk.ior to any sale or transfer,,
<br />Borrower shall notify Lender in writing of the
<br />transfer and shall proposed sale car..
<br />provide Lender with su.h information concerning the
<br />terms and conditions of the sale or transfer and the creditworthiness
<br />and financial condition of the proposed purchaser or transferee as
<br />Lender may require.
<br />A waiver of Lender's option to accelerate shall be subject to (1)
<br />the credit of the purchaser or transferee being satisfactory to the
<br />Lender; (2) an assumption fee of one percent
<br />outstanding principal balance p ; ( of the then
<br />and unconditional liability on the indebtedness 3b assumption
<br />purchasers of full
<br />transferees of the property on a �' purchasers or
<br />other requirements reasonably necessary to several basis, {4) any
<br />L in the Property. necessary protect Lender's interest
<br />p y• Any agreement regarding Lender's waiver of its
<br />option to accelerate must be in writing and reached prior to the date
<br />of sale or transfer. Waiver of any right granted to the Lender by the
<br />provisions of this paragraph as to one transaction, event or
<br />occurrence shall not be deemed to be a waiver of any right as to any
<br />subsequent transaction, event or occurrence.
<br />
|