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201704717
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7/14/2017 3:48:50 PM
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DEEDS
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201704717
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201704717 <br />in rents and leases in any manner allowed by law. Borrower will promptly provide Lender with true and correct copies of all existing and <br />future Leases. Borrower may collect, receive, enjoy and use the rents so long as Borrower is not in default. Borrower will not collect in <br />advance any rents due in future lease periods, unless Borrower first obtains Lender's written consent. Upon default, Borrower will receive <br />any rents in trust for Lender and Borrower will not commingle the rents with any other funds. The Lender has discretion to use the rents <br />and profits for the purposes of paying any accounts or debts mentioned under this Trust Deed, if said accounts or debts are not paid by <br />Borrower. Lender shall also have the right to apply such rents to any costs of management of the property and costs related to the <br />collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's fees. <br />12. Transfer of Real Property. If the Borrower should, without written consent of the Lender, sell, transfer encumber or alienate the real <br />property or any part thereof, whether voluntary or involuntarily, then the Lender shall have the right to declare all indebtedness and <br />obligations secured by this Trust Deed, immediately due and payable. No secondary financing of any kind shall be allowed with respect to <br />the real property without written approval of the Lender, provided such approval shall not be unreasonably withheld. <br />13. Remedies Cumulative. All remedies provided in this Trust Deed are distinct and cumulative to any other right or remedy under this <br />Trust Deed or afforded by law or equity and may be exercised concurrently, independently or successively. <br />14. Default and Remedies. As expressly agreed by Borrower, in the event of Borrower's failure to comply with each and all of the <br />conditions in this Trust Deed or Note or any other instruments affecting the loan secured hereby, time being of the essence, then the full <br />amount secured hereby shall become due and collectible at once and the whole indebtedness shall bear interest at the highest legal rate <br />not to exceed twenty (20) per cent. The Lender shall have the right to proceed to enforce the liquidation, which is secured herein, by <br />mortgage foreclosure or Trustee's Sale without further notice other than provided by Nebraska law. The Borrower will have those <br />remedies and only those remedies, available under Nebraska law or specifically mentioned in this Trust Deed. In the event default occurs <br />and Borrower has the right to and does elect to cure the default in accordance with the Farm Homestead Protection Act, Borrower will pay <br />Lender reasonable attorneys fees (not to exceed 1/2 of 1% of the principal balance then due) and a reinstatement fee of $100.00 for each <br />default so cured. <br />15. Method of Trustee Sale. If Trustee sale is elected, the Trustee, at the written request of the Lender, may sell the property in the <br />manner provided in Section 76 -1001 through 76 -1018 of the Nebraska Revised Statutes, including amendments, with such right of <br />postponement of sale as the Trustee shall deem best for the interest of all parties concerned. The Trustee shall convey to the Purchaser <br />in such sale the Trustee's title and all right and title of the Borrower to the real property. The purchaser shall be discharged of all liability <br />for the application of the purchase money once sent to the Trustee. The Trustee shall apply the proceeds of the sale, first to the expenses <br />of sale; then to all taxes and assessments due; thence to all sums advanced by the Lender as provided in this Trust Deed together with <br />interest; thence a Trustee's commission of two percent of the gross sale plus the Trustee's costs of reasonable attorney's fees and costs of <br />title evidence; thence to the payment of the indebtedness and obligations secured by this Trust Deed together with interest and thence to <br />the payment of all other Trust Deeds, mortgages and liens junior to this Trust Deed. Any proceeds of the sale in excess of the amounts so <br />applied above shall be paid to the Borrower. <br />16. Substitute Trustee. The Lender has the irrevocable power to appoint a substitute Trustee without specifying any reason therefore, <br />by following the procedures outlined in Section 76 -1004 of the Nebraska statutes. <br />17. Notices. Any notice or demand that may be given under this Trust Deed or any of the instruments affecting the loan shall be given <br />to the Trustee at its above address and to the Borrower, at the above address by depositing in the United States Mail, postage prepaid, <br />except that notices of default and sale shall be sent by certified or registered mail to each party hereto and request for such notice is <br />hereby made by each party hereto. <br />18. Release Upon Full Payment. Upon payment and satisfaction of the terms of this Trust Deed and the Note or Notes and other <br />amounts secured hereby, a reconveyance shall be made and executed by the Trustee. <br />19. Severabilitv. If any provisions of this Trust Deed shall be held invalid under Nebraska law, the validity of the remainder of this Trust <br />Deed shall not be affected and the remainder of this Trust Deed shall be construed as if the invalid provision was never included. <br />20. Successors and Assigns. This Trust Deed applies to and inures to the benefit of and binds all parties hereto, their heirs, legatees, <br />devicees, Personal Representatives, successors and assigns. The term, "Beneficiary", shall mean the owner and holder of the note, <br />whether or not named as Beneficiary herein. <br />21. Designation of Homestead. None. <br />22. Special Provisions. None. <br />
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