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202107049
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Last modified
8/17/2021 3:52:21 PM
Creation date
8/17/2021 3:52:19 PM
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DEEDS
Inst Number
202107049
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202107049 <br />Borrower hereby consents and directs that said sums shall be paid to Beneficiary without the necessity for <br />a judicial determination that a default has occurred under this Deed of Trust or that Beneficiary is entitled <br />to exercise its rights hereunder, and to the extent such sums are paid to Beneficiary, Borrower agrees that <br />the tenant shall have no further liability to Borrower for the same. The signature of Beneficiary alone <br />shall be sufficient for the exercise of any rights hereunder and the receipt of Beneficiary alone for any <br />sums received shall be a full discharge and release therefor to any such tenant or occupant of the Property. <br />Checks for all or any part of the rents collected hereunder shall upon notice from Beneficiary be drawn to <br />the exclusive order of Beneficiary. <br />Section 6.08. Specific Assignment of Leases. Borrower will transfer and assign to Beneficiary, <br />upon written notice by Beneficiary, any and all specific leases that Beneficiary requests. Such transfer or <br />assignment by Borrower shall be upon the same or substantially the same terms and conditions as are <br />herein contained, and Borrower will properly file or record such assignments, at Borrower's expense, if <br />requested by Beneficiary. <br />ARTICLE VII <br />MISCELLANEOUS <br />Section 7.01. Construction. In the event any one or more of the provisions contained in this <br />Deed of Trust or the Agreement shall for any reason be held to be invalid, illegal or unenforceable in any <br />respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Deed of <br />Trust, but this Deed of Trust shall be construed as if such invalid, illegal or unenforceable provision had <br />never been contained herein or therein. <br />Section 7.02. Usury. All agreements between Borrower and Beneficiary are expressly limited <br />so that in no contingency or event whatsoever, whether by reason of advancement of any sums pursuant <br />to the Agreement, acceleration of maturity of the unpaid principal balance thereof, or of the Bond, or <br />otherwise, or advancement of any sums under the provisions of this Deed of Trust, shall the amount paid <br />or agreed to be paid to Beneficiary for the use, forbearance or detention of the money to be advanced <br />thereunder or hereunder exceed the highest lawful rate permissible. If, from any circumstances <br />whatsoever, fulfillment of any provision of this Deed of Trust or the Agreement or any other agreement <br />referred to herein, at the time performance of such provision shall be due, shall involve transcending the <br />limit of validity prescribed by law which a court of competent jurisdiction may deem applicable thereto or <br />hereto, then, ipso facto, the obligations to be fulfilled shall be reduced to the limit of such validity, and if <br />from any circumstance any Beneficiary shall ever receive as interest an amount which would exceed the <br />highest lawful rate, such amount which would be excessive interest shall be applied to the reduction of the <br />unpaid principal balance due hereunder and not to the payment of interest, or if such excessive interest <br />exceeds the unpaid principal balance due hereunder, the excess shall be refunded to Borrower or its <br />successors or assigns. <br />Section 7.03. Notices. All written notices expressly provided hereunder and all notices and <br />demands of any kind or nature whatsoever shall be in writing and shall be served by registered or certified <br />mail, return -receipt requested. Any such notice or demand so served by registered or certified mail shall <br />be deposited in the United States mail, with postage prepaid thereon fully prepaid and addressed to the <br />parties as follows: <br />Borrower: <br />Central Nebraska Education Agency <br />c/o Grand Island Public Schools <br />123 South Webb Road <br />13 <br />
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