89103881 - Laserfiche WebLink

Browse

18. MleeeNanaosts ProvNions. 89_ 10388 r, (a) borrower Not Rsia " Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust granted by lender to any successor In Interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors In Interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demands made by the original Borrower and Borrower's auccassors in interest (b) Lender's Powen. Without affecting the liability of any other person liable for the payment of any obligation herein mentioned, and without affecting the lien or charge of this Deed of Trust upon any portion of the Property not then or theretofore released as security for the full amount of all unpaid obligations. Lender may, from time to time and without notice (1) release any person so liable, (ii) extend the maturity or alter any of the terms of any such obligations. (iii) grant other indulgences, (iv) release i or reconvey, or cause to be released or reconveyed at any time at Lender's option any parcel, portion or all of the Property, (v) take or release any other or additional security for any obligation herein mentioned, or (vi) make compositions or other arrangements with debtors In relation thereto. (c) Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder. or otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's righkto accelerate the maturity of the indebtedness secured by this Deed of Trust (d) Succeeson and Aeftns Bound; Joint and fieveral Uablilty; Captlons. The covenants and agreements herein con= talned shall bind. and the rights hereunder shall inure to, the respective successors and assigns of Lend-of' and Trustor. All covenants and agreements of Trustor shall be Joint and several. The captions and headings of the paragrwlis of this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof. (e) Request for Notices. The parties hRreby request that a copy of any notice of default hereunder and a copy of any notice of sW..e hereunder be mailed to each party to this Deed of Trust at the address set forth above In the mv'MI r prescribed by apok.-able law. Except for any other notice required under applicable law to be given in another manner, an. y- notice provided for to this Deed of Trust shall be given by mailing such notice by certified mail addressed to the other parties, at the address set forth above. Any notice provided for in this Deed of Trust shall be effective upon mailing in the manner designated herein. It Trustor is more than one person, notice sent to the address set forth above shall be notice to all such persons. (f) Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lender shall give Trustor, notice prior to any such inspection specifying reasonable cause therefor re;..ated to Lender's interest in the Property. (g) Reeonvsyance. Upon payment of all sums secured by this Deed of Trust, Lender shall request Trustee to reconvey the Property and shaft surrender this Deed of Trust and all notes evidencing indebtedness secured by this Deed at'Trust to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legaliy•entitled thereto. Trustor shall pay all costs of recordation, if any. (h) Personal Property; Security Agreement. As additional security for the payment of the Note, Trustor hereby grants Lender under tha Nebraska Uniform Commercial Code a security interest in all fixtures. equipment and other personal property used in connection with the real estate or tr*ovements located thereon, and not otherwise declared or deemed to be a part of the real estate secured hereby. This Instrument shall be construed as a Security Agreement under said Code. and the Lender shalt have all the rights and remedies of a secured party under said Code in addition to the rights and remedies created under and accorded the Lender pursuant to this Deed of Trust; provided that Lender's rights and remedies under this paragraph shall be cumulative with, a=-?d in, rio way a lirttilation oft. Lender's rights and remudica under any other security, agrearrmnt stored by - Borrower or Trustor. (1) Lien and Encumbrances. Trustor hereby warrants and represents that there is nadeftult under the provisions of any mortgage. deed attrust. tease or purchase contract describing all or any part of the Prom, ar. other contract. Instrument or agreement consfituting a Rein or encumbrance against all or any part of the Property (coU*-1iv*. "Liens'), existing as of the date of this Deed of `Trust. and that any and all existing Liens remain unmodified, "cept as disclosed to Lender in Trustor's wrlUm disclosure of liens and encumbrances provided for herein. Trustor shelf timely perform all of Trustor's obligations. covenants, representations and warranties under any and all exisiting and future Liens, shall promptly forward to Lender copies of all notices of default sent in connection with any and all existing or future Liens, and shall not without Lender's prior written consent in any manner modify the provisions of or allow any future advances under any existing or future Liens. q) Application of Payntenb. Unless otherwise required by law, sums paid to Lender hereunder, including without limitation payments of principal and interest, insurance proceeds, condemnation proceeds and rents and profits, shall be applied by Leader to the amounts due and owing from Trustor and Borrower in such order as Lender in its sole discretion deems desirable. (k) Severabtiity. ff any provision of this Deed of Trust conflicts with applicable law or is declared invalid or otherwise unenforceable, such conflict or invalidity snail not affect the otherprovisons of this Deed of Trust or the Note which can be i given effect without the conflicting provision, and to this end the provisigns of this. Deed of Trustend the Note are declared to be severable. (1) Term. The terms "Trustor" and "Borrower" shall Include both-singuler• arid; plural, and when fire.. Mustor and Borrower are 'the same person(s), those terms as used in this Deed of Trust shalt be, I'Mrolangeable. (m) Governing Law. This Deed of TrtW shall be governed by the lak•i ,ihe•State of Nebraska. Trustor has executed this Deed of Trust as of the date written above. On' Trustor (Ray C. Nibbels) Trustor (Veda M. Nibbels) r- _ L