|
DEED OF TRUST
<br />Loan No: 780085 (Continued) 200400207 Page
<br />extent such action Is permitted by law. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and
<br />an election to make expenditures or to take action to perform an obligation of Truster under this Deed of Trust, after Trustor's failure
<br />to perform, shall not affect Lender's right to declare a default and exercise its remedies.
<br />Request for Notice. Trustsr, on behalf of Truster and Lender, hereby requests that a copy of any Notice of Default and a copy of any
<br />Notice of Sale under this Deed of Trust be mailed to them at the addresses set forth in the first paragraph of this Deed of Trust.
<br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be
<br />entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any
<br />court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are
<br />necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable
<br />on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph
<br />elude, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses,
<br />whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or
<br />vacate any automatic stay or injunction), appeals, and any anticipated post judgment collection services, the cost of searching
<br />cords, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees, title insurance, and fees for the
<br />Trustee, to the extent permitted by applicable law. Truster also will pay any court costs, in addition to all other sums provided by
<br />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 are part of this
<br />Deed of Trust:
<br />Power, of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have, the power to take the following
<br />actions with respect to the Property upon the written request of Lender and Truster: Is) join in preparing and filing a map or plat of
<br />the Real Property, including the dedication of streets or other rights to the public; fall join in granting any easement or y eating any
<br />restriction on the Real Property; and (c) join in any subordination or other agreement affecting this Deed of Trust or the Interest of
<br />Lender under this Deed of Trust.
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set
<br />forth above, with respect to all or any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender
<br />shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable
<br />law.
<br />Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under
<br />this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of HALL County.
<br />State of Nebraska. The instrument shall contain, in addition to all other matters required by state law, the names of the original
<br />Lender, Trustee, and Truster, the book and page for computer system reference) where this Deed of Trust is recorded, and the name
<br />and address of the successor trustee, and the instrument shall be executed and acknowledged by all the beneficiaries under this Deed
<br />of Trust or their successors in Interest. The successor trustee, without conveyance of the Property, shall succeed to all the title,
<br />power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee
<br />shall govern to the exclusion of all other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Used of Trust, including without limitation any notice of default and any notice of
<br />sale shall be given in writing, and shall be effective when actually delivered when actually received by teleficuraile (unless otherwise
<br />required by law), when deposited with a nationally recognized overnight courier, or. If mailed when deposited in the United States mail, as
<br />first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All
<br />copies of notices of foreclosure from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address, as
<br />shown near the beginning of this Deed of Trust. Any party may change Its address for notions under this Deed of Trust by giving formal
<br />written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notira purposes, Truster
<br />agrees to keep Lender informed at all times of Faster's current address. Unless otherwise provided or required by law, if there is more
<br />than one Truster, any notice given by Lender to any Truster is deemed to he notice given to all Trusters.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />Amendments. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the
<br />parties as to the matters set forth In this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless
<br />given In writing and signed by the party or parties sought to be charged or bound by the alteration or amendment.
<br />Annual Reports. If the Property is used for purposes other than Trustor'a residence, Trader shall furnish to Lender, upon request, a
<br />certified statement of net operating income received from the Property during Theater's previous fiscal year in such form and detail as
<br />Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in
<br />connection with the operation of the Property.
<br />Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or
<br />define the provisions of this Deed of Trust.
<br />Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the
<br />Property at any time held by or for the benefit of Lender In any capacity, without the written consent of Lender.
<br />Governing Law. This Deed of Trust will be governed by, construed and enforced in accordance with federal law and the laws of the
<br />State of Nebraska. This Dead of Treat has bean accepted by Lender in the State of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Truster agrees upon Lender's request to submit to the jurisdiction of the courts of Hall County,
<br />State of Nebraska.
<br />Joint and Several Liability. All obligations of Borrower and Trustur under this Deed of Trust shall be joint and several, and all
<br />references to Truster shall mean each and every Truster, and all references to Borrower shall mean each and every Borrower. This
<br />
|