|
DEED OF TRUST 200113630
<br />Loan No: '34143 (Continued) Page 5
<br />such Indebtedness and obligations secured by this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of
<br />trust, pledge, lien, assignment or otherwise. Neither the aecaptance of this Deed of Trust nor its enforcement, whether by court action or
<br />pursuant to the power of sale or other powers contairied in this Deed of Trust, shall prejudice or in any manner affect Trustee's or Lender's
<br />right to realize upon or enforce any other security now or hereafter held by Trustee or Lender, it being agreed that Trustee and Lender, and
<br />each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Lender or Trustee in such order
<br />and manner as they or either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or
<br />Lender, is intended to be exclusive of any other remedy in this Deed of Trustor by law provided or permitted, but each shall be cumulative
<br />and shall be in addition to every other remedy given in this Deed of Trust or now or hereafter existing at law or in equity or by statute. Every
<br />power or remedy given by the Nate or any of the Related Documents to Trustee or Lender or to which either of them may be otherwise
<br />entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Lender,
<br />and either of them may pursue inconsistent remedies. Nothing in this Deed of Trust shall be construed as prohibiting Lender from seeking ,,a
<br />deficiency judgment against the Trustor to the extent such action is permitted by law.. Election by Lender to pursue any remedy shall not
<br />exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Trustor under this
<br />?Deed of Trust, after Trustors failure to perform, shall not affect Lender's right to declare a default and exercise its remedies.
<br />Request for Notice. Trustor, on behalf of Trustor and Lender, hereby requests that a copy of any Notice of Default and a copy of any Notice
<br />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 entitled
<br />to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is
<br />involved,, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time
<br />for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
<br />interest at the Note rate from the date of the expenditure iuntil repaid. Expenses covered by this paragraph include, without limitation,
<br />however subject to any limits under applicable taw, Lenders attorneys' fees and Lender's legal expenses, whether or not there is a lawsuit,
<br />including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction),
<br />appeals; and any anticipated post - judgment collection services, the cost of searching', records, obtaining title reports (including foreclosure
<br />reports), surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law. Trustor
<br />also will pay any court costs, in addition to all other sums provided by law.
<br />Rhilits 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 Deed of
<br />Trust:
<br />Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take the following actions
<br />with respect to the Property upon the written request of Lender and Trustor: (a) join in preparing and filing ';a map or plat of the Real
<br />Property, including the dedication of streets or other ruts to the public; (b) join in granting any easement or creating any restriction on the
<br />Real Property; and (c) join In any subordination or other agreement affecting this Deed of Trust or the interest of Lender' under this Deed of
<br />Trust.
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set forth
<br />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 shall, have
<br />the right to foreclose by judicial foreclosure, in either case in 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 appointed under this
<br />Deed of Trust by an instrument executed and acknowledged by Lender and recorded' in the office of the recorder of Hall County, State of
<br />Nebraska. The instrument shall contain, in addition to all other matters required by state law, the names of the original Lender, Trustee, and
<br />Trustor, the book and page (or computer, system' reference) where this Deed of Trust is recorded,' and the name and address of the
<br />successor trustee, and the instrument shall be executed and acknowledged by all the beneficiaries under this Deed of Trust or their
<br />successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the tide, power, and duties conferred
<br />upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee shall govern to Me exclusion of all
<br />other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of sale shall
<br />be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile',(unless otherwise required by law),
<br />when deposited with a nationally recognized overnight courier, or, if mailed, when', deposited in the United States mail, as first class, certified or
<br />registered mail postage prepaid, directed to Me addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure
<br />from the holder of any lien which has priority over this Deed of Trust shall be sent to Lenders address, as shown near the beginning of this Deed
<br />of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties, specifying that
<br />the purpose of the notice is to change the party's address. For notice purposes, Trustor agrees to keep Lender informed at all times of Truster's
<br />current address. Unless otherwise provided or required by law, jf there is more than one Trustor, any notice given by Lender to any Trustor is
<br />deemed to be notice given to all Trustors.
<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 parties
<br />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 given in writing
<br />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's residence, Trustor shall furnish to Lender, upon request, a certified
<br />statement of net operating income received from the Property during Trustor`s previous fiscal year in such form and detail as Lender shall
<br />require. ' "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the
<br />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 define
<br />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 'Property at
<br />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 Deed of Trust has been accepted by tender In the State of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts' of Merrick County,
<br />State of Nebraska.
<br />Joint and Several Llabiltty. All obligations of Trustor under this Deed of Trust shall be joint and several, and all references to Trustor shall
<br />mean each and every Trustor. This: means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<br />No Waiver by Lender, Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in
<br />writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or
<br />any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise
<br />to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of
<br />dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustoe's obligations as to any future
<br />transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instance
<br />shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be
<br />granted or withheld in the sole discretion of Lender.
<br />Severabillty. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any
<br />person or circumstance, that finding shall not matte the offending ,provision', Illegal, invalid, or unenforceable as to any other person or
<br />nirr.-umctanrw If faacihla tha nffandinn mmkinn ':Shall ha= mvAitlamd modiflad Sn that it hecnrnm [Anal valid and enforceable. If the
<br />
|