|
..
<br /> DEED OF TRUST Page 6
<br /> 9� 10 '7 2 7 3 (Continued)
<br /> title reports (including foreclosure reports), surveyors' reports, appraisal fees,title insurance,and fees for the Trustee, to the extent permitted by
<br /> applicable Iaw. Grantor also will pay any court costs,in addition to all other sums provided by law.
<br /> Rlyhts of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
<br /> 21. GRANTOR'S RIGHT TO REtNSTATE. If Grantor meets certain conditions,Grantor shall have the right to have enforcement of this Deed of Trust
<br /> discontinued at any time prior to the earlier of (i)five(5)days(or such other period as applicable law may specify for reinstetement)before sale of the
<br /> Property pursuant to any power of sale contained in this Deed of Trust or (ii)entry of a judgment enforcing this Oeed of Trust. Those Conditions are
<br /> that Grantor: (a)pays Lender ell sums which would then be due under this Deed ot Trust and 1he Credit Agreement had no axeleration oocurred; (b)
<br /> cures all other defaults under this Deed of Trust and the Credit Agreement; (c)pays all reasonable expenses incurred in enforcing this Deed oi Trust,
<br /> induding,but not limited to,reasonable attorneys'fees;and (d)takes such action as Lender may reasonably require to 8ssure that the lien of this Deed
<br /> of Trust, Lender's rights in the Property and Grantor's obligation to pay the sums secured by this Deed of Trust shall continue unchanged. Upon
<br /> reinsffitement by Grantor,this Deed of Trust and the obligations secured hereby shall remain fully effective as if no acceleration had occured but Lender
<br /> shall not be obligated to make any more credit advances. This right to reinstate shall apply if Grantor has not previously exercised the right to reinstate
<br /> under this same Deed of Trust.
<br /> 22. POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligaHons 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 with
<br /> respect to the Property upon the request of Lender and Grantor: (a)jan in prepanng and filing a map or plat of the Real Property,including the
<br /> dedication of streets or other rights to the public; (b)join in granting any easement or creating any restriction on the Real Property;and (c)join in
<br /> any sub�rdination or other agreement attecting 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 18w. In addition to the rights and remedies set forth above,
<br /> 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 the right to
<br /> 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 hereunder by an
<br /> instrument executed and acknowledged by Lender and recorded as required by applicable law. The instrument shall contain, in addition to all
<br /> other matters required by state law, the names of the original Lender,Trustee,and Grantor, the book and page(or computer system reference)
<br /> where this Deed of Trust is recorded, and the name and address of the successor trustee, and the instrument shall be executed and
<br /> acknowledged by all the beneficiaries under the Deed of Trust or their successors in interest. The sua�ssor hustee,without ConveyanCe of the
<br /> Property,shall succeed to all the title,power,and duties conferred upon the Trustee in this Deed of Trust and by appliCable law. This procedure
<br /> for substitution of trustee shall govern to the exclusion of all other provisions for substitution.
<br /> 23. NOTICES TO GRANTOR AND OTHER PARTIES. Any notice under this Deed of Trust shall be in writing and shall be eHective when actually
<br /> delivered or,if mailed,shall be deemed eNective when deposited in the United States mail first class, registered mail,post8ge prepaid,direCted to the
<br /> addresses shown neer the beginning oi this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal
<br /> written notice to the other paAies, specifying that the purpose of the notice is to change the party's address. All copies of notices of foreclosure from
<br /> the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address,as shown near the beginning of this Deed of Trust.
<br /> For notice purposes,Grantor agrees to keep Lender and Trustee informed at alf times of Grantor's current address.
<br /> 24. ASSOCIATION OF UNIT OWNERS. The following provisions apply if the Real Properfy has been submitted to unit ownership law or similar law
<br /> for the establishment of condominiums or cooperative ownership of the Real Property:
<br /> Power of Attomey. Grantor grants an irrevocable power of attorney to Lender to vote in its discretion on any matter that may Come before the
<br /> association of unit owners. Lender shall have the right to exercise this power of attorney only after default by Grantor; however, Lender may
<br /> dedine to exercise this power 85 it sees fit.
<br /> tnsurance. The insurance as required above may be camed by the association of unit owners on Grantor's behalf, and the proceeds of such
<br /> insurance may be paid to the association of unit owners for the purpose of repairing or reconstructing the Property. If not so used by the
<br /> association,such proceeds shall be paid to Lender.
<br /> Complfance wlth Repulatlons of Associetion. Grantor shall perform all of the obligations imposed on Grantor by the declaraHon submitting the
<br /> Real Property to unit ownership,by the bylaws of the association of unit owners,or by any rules or regulations thereunder. If Grantor's interest in
<br /> the Real Property is a leasehold interest and such property has been submiried to unit ownership, Grantor shall perform all of the obligations
<br /> imposed on Grantor by the lease of the Real Property irom its owner.
<br /> 25. MISCEIIANEOUS PROVISIONS. The following miscelleneous 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 oi the parties as to
<br /> 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 and signed
<br /> by the party or parties sought to be charged or bound by the alteration or amendment.
<br /> Applicable Law. This Deed of Trust shall be governed by and construed in accordance with the Iaws of the State of Nebraska.
<br /> Ception Meadlnps. Cap6on headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the
<br /> provisior�s of this Deed oi Trust.
<br /> Grantor's Copy oi Documents. Lender agrees to provide Grantor with a conformed copy of both the LOANLINER� Home Equity Plfln Credit
<br /> Agreement and this Deed of Trusf at the time they are executed or within a reasonable time after this Deed of Trust is reCOrded.
<br /> Merper. There shall be no merger oi the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any
<br /> time held by or for the benefit of Lender in any capacity,without the written consent of Lender. -
<br /> Multlpk Partles. All obligations of Grantor under this Deed oi Trust shell be jant and several,and all reterenoes to Grantor shell mean each and
<br /> every Grantor. This means that each of the persons signinp below is re5ponsible for all obligations in this Deed ot Trust.
<br /> Severablllty. If a court of competent jurisdiction finds any provision of this Deed oi Trust to be invalid or unenforceable as to any person or
<br /> circumstance,such finding shall not render that provision invalid or unenforceeble as to any other persons or prcumstances. If feasible,any such
<br /> offending provision shall be deemed to be modified to be within the limits of enforceability or validity;however,ff the offendin9 provision cannot be
<br /> so modified,it shall be stricken and al�other provisions of this Deed of Trust in all other respects shall remain valid and enforceable.
<br /> Adcnowledpment. Prior to the execu6on hereof Grantor executed an acknowledgment stating that GraMOr understands that (a) this Deed of
<br /> Trust is a trust deed and not a mortgaee and (b)the power of sale provided for in this Deed of Trust provides substantially different rights and
<br /> obligations to Granta than a mortgage in the event of deteufl or breach of obligation.
<br /> Successors and Asslgns. Subject to the limitetions stated in this Dced of Trust on transfer of Grantor's interest, this Deed of Trust shall be
<br />
|