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DEED OF
<br />Loan No: 33901 (Contii
<br />to recover such sum as the court may adjudge reasonable as attorney
<br />involved, and to the extent not prohibited by law, all reasonable expel
<br />for the protection of its interest or the enforcement of its rights shall b
<br />interest at the Note rate from the date of the expenditure until rep
<br />however subject to any limits under applicable law, Lender's attorneys
<br />including attorneys' fees and expenses for bankruptcy proceedings (
<br />appeals, and any anticipated post judgment' collection services, the c
<br />reports), surveyors' reports, and appraisal fees, title insurance, and fi
<br />also will pay any court costs, in addition to all other sums provided by
<br />Rights of Trustee. Trustee shall have all of the rights and duties of L
<br />POWERS AND OBLIGATIONS' OF TRUSTEE. The following provisions r
<br />Trust
<br />Powers of Trustee. In addition to all powers of Trustee arising as a r
<br />with respect to the Property upon the written request of Lender an(
<br />Property,' including the dedication of streets or other rights to the pubs
<br />Real Property; and (c) join in any subordination or other agreement a
<br />Trust.
<br />Trustee. Trustee shall meet all qualifications required for Trustee u
<br />above, with respect to all or any part of the Property, the Trustee shall'
<br />right to foreclose by judicial foreclosure, in either case in accordance a
<br />III t>aa,
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<br />71 Page 5
<br />ether or not any court action is
<br />a', part of the Indebtedness payable on demand and shall bear
<br />penes covered by this paragraph include, without limitation,
<br />tnd Lender's legal expenses, whether or riot there is lawsuit,
<br />1 efforts to modify or vacate any automatic stay or injunction),
<br />earching records, obtaining, title reports (including foreclosure
<br />the Trustee, to the extent permitted by applicable law. Trustor
<br />3 set forth in this section.
<br />o the powers and obligations of Trustee are part of this Deed of
<br />f law, Trustee shall have the power to take the following actions
<br />C (a) join in preparing and filing a map or plat of the Real
<br />oin In granting any easement or creating any restriction on the
<br />this Deed of Trust or the interest of Lender under this Deed of
<br />plicable law. In addition to the rights and remedies set forth
<br />e right to foreclose by notice and sale, and Lender will have the
<br />to the full extent provided by applicable law.
<br />Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under this
<br />Deed of Trust by an instrument executed and acknowledged', by Lender and recorded in the office of the recorder of Nall County, State of
<br />Nebraska. The instrument shall contain, in addition to all other matters required by state law, the names of the original Lender, Trustee, and
<br />Trustor, the book' and page (or computer system reference) where this Deed of Trust is recorded, and the name and address of the
<br />successor trustee, and the instrument shall be executed and acknowledged by all the beneficiaries under this Deed of Trust or their
<br />successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the title, power, and duties' conferred
<br />upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee shall govern to the exclusion of all
<br />other provisions for substitution.
<br />NOTICES. Any notice required to be given under this geed of Trust, including without limitation any notice of default and any notice of sale shall
<br />be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law),
<br />when deposited with a; nationally recognized overnight courier, or, if mailed; when deposited' in the united States mail, as first class, certified or
<br />registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure
<br />from 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
<br />of Trust. Any person may change his or her address for notices under this Deed of Trust by giving formal written notice to the other person or
<br />persons, specifying that the purpose of the notice is to change the person's address. For notice purposes, Trustor agrees to keep Lender
<br />informed at all times of Trustor's current address. Unless otherwise provided or required by law, if there is more than one Trustor, any notice
<br />given by Lender to any Trustor 'is deemed to be notice given to all Trustors. It will be Trustor's responsibility to tell the others of the notice from
<br />Lender.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />Amendments. What is written in this Deed of Trust and in the Related Documents is Trustor's entire agreement with Lender concerning the
<br />matters covered by this Deed of Trust. To be effective, any change ',or amendment to this Deed of Trust must be in writing and must be
<br />signed by whoever will be bound or obligated by the change or amendment.
<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
<br />the provisions of this Deed of Trust.'
<br />Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at
<br />any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
<br />Governing Law, This Deed of Trust will be governed by and interpreted in accordance with federal law and the laws of the State of
<br />Nebraska. This peed of Trust has been accepted by Lender In the State of Nebraska.
<br />Choice of Venue.. If there is a lawsuit, Trustor agrees upon, Lender's request to submit to the jurisdiction of the courts of Merrick County,
<br />State of Nebraska.
<br />No Waiver by Lender. Trustor understands' Lender will not give up any of Lender's rights under this Deed of Trust unless Lender does so in
<br />writing. The fact that Lender delays or omits to exercise any right will not mean that Lender has given up that right. If Lender does agree in
<br />writing to give up one of Lender rights, that does not mean Trustor will not have to, comply with the other provisions of this Deed of Trust.
<br />Trustor also understands that if ender does consent to a request, that does not mean that Trustor will not have to get; Lender's consent
<br />again if the situation happens again. Trustor further' understands that, just because Lender consents to one or more of Trustor's requests,
<br />that does not mean Lender will be required to consent to any of Trustor's future, requests, Trustor waives presentment, demand for payment,-
<br />protest, and notice of dishonor.
<br />Severabitity. if a court finds that any provision of this Deed of Trust is not valid or should Pio°T;be'enforced, that fact by itself wi not mean
<br />that the rest of this Deed of Trust will not be valid or enforced'. Therefore, a court will enforge the rest of the provisions of this)Deed of Trust
<br />even if a provision of this Deed of Trust may found to be invalid or unenforceable. = .t
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Reed 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 Trustor's 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 Dew of Trustor liability under the
<br />Indebtedness.
<br />Time Is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the State
<br />of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
<br />Beneficiary. The word "Beneficiary" means Bank of Clarks, and its successors' and assigns.
<br />Borrower. The word "Borrower" means Lod J. Christensen, and all other persons and entities signing the Note.
<br />Deed of Trust The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limitation all
<br />assignment and security interest provisions relating to the Personal Property and Rents.'
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, ,regulations and ordinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehensive 'Environmental Response,
<br />Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ( "CERCLA "), the Superfund Amendments and
<br />Reauthorization Act of 1986, Pub. L. No. 99 -499 ( "SARA "), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the
<br />Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or regulations
<br />adopted pursuant thereto.
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default
<br />section of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, Including without,
<br />limitation a guaranty of all or part of the Note.
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