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200011176 <br />such costs and expenses, and all such sums shall be a part of the Indebtedness, payable on <br />demand with interest at the default rate provided in the Note. Borrower shall remain liable for <br />any deficiency resulting if the proceeds of sale are inadequate to repay the Indebtedness. <br />26.3 Notice of Sale. Lender shall give Borrower reasonable notice of the time and <br />place of any public sale of any personal property or of the time after which any private sale or <br />other intended disposition of the personal property is to be made. Reasonable notice shall mean <br />notice given in accordance with applicable law, including notices given in the manner and at the <br />times required for notices in a nonjudicial foreclosure. <br />26.4 Waiver, Election of Remedies. A waiver by either party of a breach of a <br />provision of this Instrument shall not constitute a waiver of or prejudice the party's right <br />otherwise to demand strict compliance with that provision or any other provision. Election by <br />Lender to pursue any remedy shall not exclude pursuit of any other remedy, and all remedies of <br />Lender under this Instrument are cumulative and not exclusive. An election to make <br />expenditures or take action to perform an obligation of Borrower shall not affect Lender's right <br />to declare a default and exercise its remedies under this Instrument. <br />27. RECONVEYANCE. Upon payment of all sums secured by this <br />Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this <br />Instrument and all notes evidencing Indebtedness secured by this Instrument to Trustee. Trustee <br />shall reconvey the Property without warranty to the person or persons legally entitled thereto. <br />Such person or persons shall pay Trustee's costs incurred in so reconveying the Property. <br />28. PROVISIONS REGARDING TRUSTEE. Trustee shall not be liable for <br />any error of judgment or act done by Trustee, or be otherwise responsible or accountable under <br />any circumstances whatsoever. Trustee shall not be personally liable in case of entry by it or <br />anyone acting by virtue of the powers herein granted it upon the Property for debts contracted or <br />liability or damages incurred in the management or operation of the Property. All monies <br />received by Trustee shall, until used or applied as herein provided, be held in trust for the <br />purposes for which they were received, but need not be segregated in any manner from any other <br />monies (except to the extent required by law) and Trustee shall be under no liability for interest <br />on any monies received by it hereunder. <br />Trustee may resign by giving of notice of such resignation in writing to Lender. If <br />Trustee shall die, resign or become disqualified from acting, or shall fail or refuse to exercise its <br />powers hereunder when requested by Lender so to do, or if for any reason and without cause <br />Lender shall prefer to appoint a substitute trustee to act instead of the original Trustee named <br />herein, or any prior successor or substitute trustee, Lender shall have full power to appoint a <br />substitute trustee and, if preferred, several substitute trustees in succession who shall succeed to <br />all the estate, rights, powers and duties of the aforenamed Trustee. Upon appointment by Lender <br />and upon recording of the substitution in the land records of Hall County, Nebraska any new <br />Trustee appointed pursuant to any of the provisions hereof shall, without any further act, deed or <br />conveyance, become vested with all the estates, properties, rights, powers and trusts of its <br />predecessor in the rights hereunder with the same effect as if originally named as Trustee herein. <br />24 <br />01- 288814.04 <br />Grand Island, NE <br />