|
202103559
<br />DEED OF TRUST
<br />(Continued) Page 6
<br />expenses, whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings
<br />(including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post -judgment
<br />collection services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors'
<br />reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law.
<br />Trustor also will pay any court costs, in addition to all other sums provided by law.
<br />Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
<br />POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee
<br />are part of this Deed of Trust:
<br />Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to
<br />take the following actions with respect to the Property upon the written request of Lender and Trustor: (a) join in
<br />preparing and filing a map or plat of the Real Property, including the dedication of streets or other rights to the
<br />public; (b) join in granting any easement or creating any restriction on the Real Property; and (c) join in any
<br />subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust.
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights
<br />and remedies set forth above, with respect to all or any part of the Property, the Trustee shall have the right to
<br />foreclose by notice and sale, and Lender shall have the right to foreclose by judicial foreclosure, in either case in
<br />accordance with and 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
<br />appointed under this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the
<br />office of the recorder of Hall County, State of Nebraska. The instrument shall contain, in addition to all other
<br />matters required by state law, the names of the original Lender, Trustee, and Trustor, the book and page (or
<br />computer system reference) where this Deed of Trust is recorded, and the name and address of the successor
<br />trustee, and the instrument shall be executed and acknowledged by all the beneficiaries under this Deed of Trust or
<br />their successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the
<br />title, power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for
<br />substitution of Trustee shall govern to the exclusion of all other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default
<br />and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received
<br />by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if
<br />mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to
<br />the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of
<br />any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning of
<br />this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written
<br />notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice
<br />purposes, Trustor agrees to keep Lender informed at all times of Trustor's current address. Unless otherwise provided
<br />or required by law, if there is more than one Trustor, any notice given by Lender to any Trustor is deemed to be notice
<br />given to all Trustors.
<br />LENDER ADVANCES. The Lender may make advances under the Mortgage or Deed of Trust, Security Agreement or
<br />other instrument providing security for the note, to protect the Lender's interest in the Property from loss of value or
<br />damage. Any money so advanced (including reasonable costs of recovery and attorney's fees) plus interest at the
<br />default rate shall become an obligation due and owing under the terms of the note immediately upon the date advanced
<br />by Lender and is an obligation of the Borrower secured by the Mortgage or Deed of Trust, Security Agreement or other
<br />instrument providing security for the note.
<br />ACCELERATION IN THE EVENT OF SALE. In the event any or all of the real estate described in the Mortgage or Deed of
<br />Trust, Security Agreement or other instrument providing security for this note is sold, exchanged or otherwise
<br />transferred, the Lender's written consent must be obtained prior to any sale or Lender may, without notice, declare the
<br />entire unpaid balance of this note and all accrued and unpaid interest plus costs and fees due under this note
<br />immediately due and payable.
<br />ANNUAL FINANCIAL STATEMENTS. Borrower agrees to provide Lender with updated financial statements and other
<br />requested financial reports, including tax returns, not more frequently than annually and at any time when loan is
<br />delinquent or otherwise in default. The failure of Borrower to provide annual financial statements or other requested
<br />reports within a reasonable time may be declared to be a default of this note by the Lender and Lender may exercise all
<br />remedies under the provision in this note captioned "Default" or as provided elsewhere in this document.
<br />DISSEMINATION OF INFORMATION. If the Lender determines at any time to sell, transfer or assign the Note, this
<br />Security Instrument and any other security instruments, and any or all servicing rights with respect thereto, or to grant
<br />participations therein ("Participations") or issue, in a public offering or private placement, mortgage pass-through
<br />certificates or other securities evidencing a beneficial interest in the loan ("Securities"), Lender may forward to each
<br />purchaser, transferee, assignee, servicer, participant, investor, or their respective successors in such Participations
<br />and/or Securities (collectively, the "Investor"), any rating agency rating such Securities and each prospective Investor,
<br />all documents and information which Lender now has or may hereafter acquire relating to the Indebtedness and to the
<br />Borrower, any Guarantor, any Indemnitors and the Mortgaged Property, which shall have been furnished by Borrower,
<br />any Guarantor or any Indemnitors, as Lender determines necessary or desirable.
<br />JURISDICTION. If litigation is required in state court, Borrower agrees to submit to the jurisdiction of the courts of
<br />Yankton County, State of South Dakota and venue, at Lender's discretion shall be proper there. If litigation is required
<br />in federal court, Borrower agreed to submit to the jurisdiction of the federal court in Sioux Falls, South Dakota. All
<br />parties to this Mortgage or Deed of Trust hereby waive the right to any jury trial in any action, proceeding, or
<br />counterclaim brought by any party against any other party.
<br />WATER RIGHTS. Trustor shall maintain the Water Rights during the term of the loan at a level and of a nature sufficient
<br />to provide the continuing, enforceable right to receive irrigation water on the property from such sources, in such
<br />quantities and at such times and locations as has historically been available to the property without interruption or
<br />substantially increased cost and in any event sufficient to provide adequate water and/or drainage to continue the
<br />current and proposed agricultural operations on the property. All existing Water Rights benefiting or available to the
<br />property shall be maintained in full force and effect for the benefit of the property by Trustor and applied to beneficial
<br />use so as to maintain the validity and priority of such rights. Trustor shall fully comply with, and not permit a default to
<br />occur under any water licenses, permits or delivery contracts used to provide water to the property, and shall timely
<br />exercise all renewal or extension rights in such contracts. Trustor shall not modify, amend or terminate any Water
<br />Rights without the Lender's prior written consent. Trustor shall comply with the rules, regulations and ordinances of
<br />any water district, water agency or groundwater management agency in which the property or any portion thereof is
<br />located and pay all related fees and assessments prior to delinquency. All irrigation wells and related facilities used to
<br />deliver irrigation water to any portion of the property shall remain physically located within the boundaries of such
<br />property or the subject of valid, enforceable easements appurtenant to the property and encumbered hereby. If the use
<br />of any irrigation facilities or water serving the property requires consent or the use of other property, Trustor shall
<br />maintain in effect all requisite easements or other legally enforceable and assignable rights to use such facilities and/or
<br />water to service the property. Trustor shall notify the Lender if the irrigation water supply to any portion of the property
<br />
|