|
, ' .
<br /> .. 07-12-1999 DEED OF TRUST . � '' '�; " . • Page 7
<br /> Loan No 764424 (Continued) "� ' 3� I 0'7 4 3 2
<br /> and obligations secured by this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br /> assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement,whether by court action or pursuant to the power of
<br /> sale or other powers contained in this Deed ot Trust, shall prejudice or in any manner affect Trustee's or Lender's right to realize upon or
<br /> enforce any other security now or hereafter held by Trustee or Lender, it being agreed that Trustee and Lender, and each of them, shall be
<br /> entitled to enforce this Deed of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
<br /> either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or Lender, is intended to be
<br /> exclusive of any other remedy in this Deed of Trust or by law provided or permitted, but each shall be cumulative and shall be in addition to
<br /> every other remedy given in this Deed of Trust or now or hereafter e�asting at law or in equity or by statute. Every power or remedy given by the
<br /> Note or any of the Related Documents to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised,
<br /> �,:oncurrently or independently, from time to time and as often as may be deemed expedient by Trustse or Lender, and either of them may
<br /> pursue inconsistent remedies. Nothing in this Deed of Trust shall be construed as prohibiting Lender from seeking a deficiency judgment
<br /> against the Trustor to the extent such action is permitted by law.
<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 /> Walver; Electlon of Remedies. A waiver by any party of a breach of a provision of this Deed of Trust shall not constitute a waiver of or
<br /> prejudice the party's rights othervvise to demand strict compliance with that provision or any other provision. Election by Lender to pursue any
<br /> remedy provided in this Deed of Trust,the Note, in any Related Document,or provided by law shall not exclude pursuit of any other remedy,
<br /> and an election to make expenditures or to take action to perform an obligation of Trustor under this Deed of Trust after failure of Trustor to
<br /> perform shali not affect Lender's right to declare a default and to exercise any of its remedies.
<br /> Attomteys'Fees,�Expenses: If Lender institutes any suit or�ction to enforce any of the terms,of�his Deed of Trust, Lender shall be entitled to
<br /> recover such sum as the court may adjudge reasonable as attorneys' fees at trial and on any.appeal. Whether or not any court action is
<br /> involved,all reasonable expenses incurred by Lender which in Lender's opinion are necessary at any time for the protection of its interest or the
<br /> enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of
<br /> expenditure until repaid. Expenses covered by this paragraph include,without limitation, however subject to any limits under applicable law,
<br /> Lender's attorneys' fees whether or not there is a lawsuit, including attorneys' fees 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 records,
<br /> obtaining title reports (including foreclosure reports), surveyors' reports, appraisal fees, title insurance, and fees for the Trustee, to the extent
<br /> permitted by applicable law. Trustor also will pay any court costs,in addition to all other sums provided by Iaw.
<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 E�:�ed of
<br /> Trust.
<br /> Powers of Trustee. In addition to all powers of Trustee arising as a matter of law,Trustee shall Nave 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 Property,
<br /> including the dedication of streets or other rights to the public; (b)join in granting any easement or creating any restriction on the Real Property;
<br /> and (c)join in any subordination or other agreement affecting 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 Iaw. In addiHon to the rights and remedies set forth above,
<br /> �1�ith 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 Iaw.
<br /> Succesaor 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 in the office of the recorder of HALL County, Nebraska. The instrument shall
<br /> contain, in addition to all other matters required by state law, the names of the original Lender,Trustee,and Trustor,the book and page(or
<br /> computer system referance)where this Deed of Trust is recorded,and the name and address of the successor trustee,and the instrument shall
<br /> be executed and acknowledged by all the beneficiaries under the Deed of Trust or their successors in interest. The successor trustee,without
<br /> conveyance of the Property,shall succeed to all the title,power,and duties conferred upon the Trustee in this Deed of Trust and by applicable
<br /> law. This procedure for substitution of trustes shall govern to the exclusion of all other provisions for substitution.
<br /> NOTICES TO TRUSTOR AND OTHER PARTIES. Any notice under this Deed of Trust shall be in writing, may be sent by telefacsimi�c (unless
<br /> otherwise required by Iaw), and shall be effective when actually delivered, or when deposited with e ne�titmaNy recognized overnight courier, or, if
<br /> mail�d,shall be deemed effecfire when deposited in the United States mail first c{ass,certified or � ct maM,spostei`r�preraid, diredted to the
<br /> addresses shown near the beginning of this Deed ot Trust. Any party may change its address for rn�lit:esun�'tk�s17�?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 ad`dress&'AIL�c�Ies�of,�Qtlbetls,'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 sri`CV�n tt9srihe-beginning of-this Deed of Trust.
<br /> For notice purposes,Trustor agrees to keep Lender and Trustee informed at all times of Trustor's currant address.
<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 as
<br /> 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 and �
<br /> §igned 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 operation
<br /> of the Prope�ty.
<br /> !Applicable Law. This Deed of Trust has been delivered to Lender and accepted by Lender in the State of Nebraska. This Deed of Trust
<br /> ;'�all be�ovemed by and construed in accordance with the laws oi the State of Nebraska.
<br /> Caption Heedings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the
<br /> 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 any
<br /> time held by or for the benefit of Lender in any capacity,without the written consent of Lender.
<br />
|