|
of postponement shall be given by public declaration thereof by such person at the time and P11e00 test spPOlnted for the
<br />sale; provided, If the sale is postponed for longer than one (1) driy beyond the day designated in the notice of sale, notice
<br />thereof shall be given in the same manner as the original notice of sale. Trustee shall execute and deliver to the purchaser
<br />Its Deed conveying the Property so sold, but without any covenant or warranty, express or implied. Tate recitals In tr a deed
<br />of any matters or acts shall be conclusive proof of the truthfulness thereof. Any person, including Beneficiary, may pur-
<br />chase at fhe sale.
<br />(I3) When Trustee sells pur •pant to the powers herein, the Trustee shall apply the prc�cee;Je of the sale to payment of the
<br />costs and expenses of exercising the power of sale and of the sate, Including the payment of the Trustee's fees actually
<br />incurred, which Trustee's feed snali not in the aggregate exceed the following amount based upon the amount secured
<br />hereby and remaining unpaid; 5 percentum on the first $1,000 thereof, 1 percentum on the balance thereof and then to the
<br />Items In subparagraph (3) in the order this rvj stated.
<br />;C) after paying the items specified in subparagraph (B) If the sale is by Trustee, or Oe proper count and other costs of
<br />foreclosure and sale if the sD.le is pursuant to ;udicial foreclosure, the proceeds of sale shall be applied in the order stated
<br />;u the payment of:
<br />li) Cost of any evidence of title procured in connection with such sale and of any revenue stamps;
<br />(l ) All sums the secured hereby;
<br />till) The remainder, If any, to the person legally entitled thereto.
<br />t 1. Jut!ea and Obl!gations of Trustees. (a) The duties and obligations of Trustee shall be determined solely by the, express
<br />F soons .f this Deed of Trust, and Trustee shall not be liable except for the performance of such dunes and olMiprations as
<br />r e specific., .ly set fortn herein, and no implied covenants or obligations shall ba Imposed upon Trustee; (b) No provisions of
<br />t t;.> Deed of Trust shall require Trustee to expend or risk its own funds, or otherwise Incur any financial obligation In the pet-
<br />4
<br />,orrnance m any of Its duties hereunder, or in the exercise of any of Its rights or power, If It shall have grounds for ;believing
<br />that the repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it: (c)
<br />Trustee may consult with counsel of its own choosing and the advice of such counsel shall be full and complete authorization
<br />and protection in the respect of any action taken or suffered by it hereunder in good faith and reliance thereon; (d) Trustee
<br />shall not be liable for any action taken by it In good faith and reasonably believed by it to be authorized or w;thtn the discretion
<br />c, rights and powers conferred upon it by this Deed of Trt=.st.
<br />i 4. Additional Security Instruments. Trustor, at Its expense, will execut� I rust Pt mptty upon demanc,
<br />such security Instruments as may be required by Trustee, in form and sub".g9ADAM 001111 i. covering any of the
<br />Property conveved by this Deed of Trust, which security Instruments shall be eddittbtttl('S11t;�'li Cy' fui r .stor s faithful perfor-
<br />mance of _ii of the terms, covenants and conditions of this Deed of Trust, the Loan Agreement, any promissory notes secured
<br />hereby and any otter security Instruments executed in connection with this transaction. Such Instruments shall be recorded
<br />or filed, and re- mcorded and reified, at Trustor's expense.
<br />15. Miscolianeods.
<br />(A) In the event a:iy one or more of the provisions contained In the Deed of Trust, or the Loan Agreement or any promissory
<br />note, or any ether security instrument given in connection with this transaction, shall for any reason to be held to be In-
<br />valid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall, at the option of
<br />Beneficiary, not affect any other provision of this Deed of Trust, that this Deed of Trust shall be construed as If such in.
<br />valid, illegal or unenforceable provision had never been contained herein or therein.
<br />(B) This Deed of Trust shall be construed according to the laws of the State of Nebraska.
<br />(C) The Deed of Trust shall insure to and b!nd the heirs, legatees, devisees, administrators, executors, successors anr'
<br />assigns of the parties hereto.
<br />(D) Trustor shall pay all taxes levied upon this Deed of Trust or the debt secured hereby, together with any other taxes or
<br />assessments which may be levied against the Trustee or Beneficiary or the legal holder of the Loan Agreement or ac-
<br />count of the indebtedness evidenced thereby.
<br />(E) Whenever used herein, the singular number shall Include tho plural, the plural, the singular, the use of any gender shall be
<br />applicable to all genders, and the term "Beneficiary" shall Include any payee of the indebtedness; hereby secured or any
<br />transfer thereof, whether by operation of law or otherwise.
<br />16. Successor Trustee. Beneficiary may from time to time substitue a successor or successors to any Trustee named herein
<br />or acting hereunder to execute this Trust Deed. Upon such appointment and without convenyance to the successor Trustee,
<br />the latter shall be vested with all title, powers and duties conferred upon any Trustee herein named or acting hereunder. Each
<br />s,:crr appointment and substitution shall be made by written instrument by Beneficiary, containing reference to this Deed of
<br />Trust and Its place of record, which when recorded In the office of the Register of Deeds of the county or counties in which
<br />said property Is situated, shall be conclusive proof of proper appointment of the successor Trustee. The foregoing power of
<br />substitution and the procedure therefor shall not be exclusive of the power and procedure provided for by law for the substitu-
<br />tion of a Trustee or Trustees In the place of the Trustee or Trustees named herein.
<br />17. Forbearance by Beneficiary or Trustee Not a Waiver. A forbearance by Beneficiary or Trustee in exercising any right or
<br />remedy hereunder, or otherwise afforded by applicable law shall not be a waiver of or preclude the exercise of any right or
<br />remedy hereunder. Likewise, the waiver by Beneficiary or Trustee of any default of Trustor under this Deed of Trust shall not be
<br />deemed to be a waiver of any other or similar defaults subsequently occurring.
<br />18. Truster Not Released. Extension of the tline for payment or modification or amortization of the sums secured by the
<br />Deed of Trust granted by Borieficiary to any successor In Interest of - rrustor shall not operate to release, In any manner, the
<br />liability of the original 7rustor and Trustoe's successor In Interest. Beneficiary shall not be required to commence proceedings
<br />agalnst such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by the
<br />Deed of Trust by reason of any demand made by the original Trustor and Trustoe's successors In Interest.
<br />19, Option to Foreclose. Upon the occurrence of any default hereunder, Beneficiary shall have the option to foreclose this
<br />Deed of Trust in the manner provided by law for the foreclosure of mortgages on real property.
<br />20. Trustoes Rights, Absent Default. Until any default In the payment of Indebtedness hereby secured, or until the breach of
<br />any covenant herein contained, the Trustor, Its successors and assigns, shalt possess and enjoy the property and receive the
<br />rents and profits therefrom. Upon payment of all sums secured by this Deed of Trust, Beneficlary shall request T .: itee to
<br />r(.-convey the property and shall surrender this Deed of Trust and all notes and Loan Agreements evidencing Indel to rl,iess
<br />secured by the Deed of Trust to Trustee, Trustee shall reconvey the property without warranty and without charge tc t t., p x•
<br />sons lega!!y entitled thereto. The Grantee In any reconveyance may be described as "the person or persons entitled 'hart to ",
<br />and the recitals therein of any matters or facts shall be conclusive proof of the lruthfulnass thereof. Such person or :arsons
<br />shall pay all rusts of recording, If any.
<br />21. Tranef it of the Property; Assumption. If all or any part of the Property or an Interest therein Is sold or transferrer! wlthok t
<br />Boneficiary' prior written consent, except as otherwise provided by law, Beneficiary may, at Beneficiary's option, dNciare all
<br />the sums secured by this Deed of Trust to be Immediately due and payable. Beneficiary shall have waived such option to ac-
<br />celerrAe If, prior to the sale or transfer, Beneficiary and the person to whom the Property Is to be sold or transferred reach
<br />Nr4' 1 " a -701
<br />
|