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<br /> DEED OF TRUST g � 1 ��5 6 0 Page 5
<br /> (Continued)
<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 Trust or 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 Note or any of the Related Documents to Trustee or Lender or to which either of them may be otherwise
<br /> enti8ed,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 /> deflciency judgment against the Trustor to the extent such action is permitted by Iaw.
<br /> Election of Remedies. If Lender decides to spend money or to perform any of Trustor's obligations under this Deed of Trust,after Trustor's
<br /> failure to do so,that decision by Lender will not affect Lender's right to declare Trustor in default and to exercise Lender's remedies.
<br /> Request7ol�d�'� Tr.u�tpr,on behalf of Trustor and Lender,hereby requests that a copy of any Notice of Default and a copy of any Notice
<br /> of Sate under'�h �ti,4��u$�a6A maM�b to them at the addresses set forth in the first paragraph of this Deed of Trust.
<br /> AttOrne�iB'Fe�;-,6�ee8.:,;��ie�1d@r institutes any suit or action to enforce any of the terms of this Deed of Trust,Lender shall be entitled
<br /> to recover sucli sum.as�he court may ad'}udge 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 Iaw,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 until repaid. Expenses covered by this paragraph include, without limitation,
<br /> however subject to any limits undar applicable law,Lender's attorneys'fees and Lender's tegal 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 Iaw. A waiver by any party of a breach of a provision of this Deed of
<br /> Trust shall not constitute a waiver of or prejudice the party's rights otherwise to demand strict compliance with that provision or any other
<br /> provision.
<br /> Rlghts 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 pa�t 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 rights 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 will have the
<br /> 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 of�ce 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 title,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 the 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 the addresses shown neer the beginning of this Deed of Trust. All copies of notices of foreclosure
<br /> from the holder of any lien which has priorily over this Deed of Trust shall be sent to Lender's address,as shown near the beginning of this Deed
<br /> of Trust. Any person may change his or her address for notices under this Deed of Trust by giving formal written notice to the other person or
<br /> persons, specifying that the purpose of the notice is to change the person's address. For notice purposes, Trustor agrees to keep Lender
<br /> informed at all times of Trustor's curzent address. Unless otherwise provided or required by law, if there is more than one Trustor, any notice
<br /> given by Lender to any Trustor is deemed to be notice given to all Trustors. It will be Trustor's responsibility to tell the others of the notice from
<br /> Lender.
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br /> Amendments. What is written in this Deed ot Trust and in the Related Documents is Trustor's entire agrsement with Lender concerning the
<br /> matters covered by this Deed of Trust. To be effective, any change or amendment to this Deed of Trust must be in writing and must be
<br /> signed by whoever will be bound or obligated by the change or amendment.
<br /> Caption Headinys. 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 /> Governin�Law. This Deed of Trust wlll be povemed by and interpreted in accordance wlth federal law and the laws of the State of
<br /> Nebraska. Thls Deed of Trust has been accepted by Lender In the State of Nebroska.
<br /> No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under this Deed of Trust unless Lender does so in
<br /> writing. The fact that Lender delays or omits to exercise any right will not mean that Lender has given up that right. If Lender does agree in
<br /> writing to give up one of Lender's rights,that does not mean Trustor will not have to comply with the other provisions of this Deed of Trust.
<br /> Trustor also understands thaf if Lender does consenf fo a rec�t, that va2s'+aot mean#hat Trustor wiN nat has+e#o get Lender's consent
<br /> again if the situation heppens again. Trustor fu�ther understands that just because Lender consents to one or more of Trustor's requests,
<br /> that does not meen Lender will be required to consent to any of Trustor's future requests. Trustor waives presentment,demand for payment,
<br /> protest,and notice of dishonor.
<br /> Severabllity. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced,that fact by itself will not mean
<br /> that the rest of this Deed of Trust will not be valid or enforced. Therefore,a court will enforce the rest of the provisions of this Deed of Trust
<br /> even if a provision of this Deed of Trust may be found to be invalid or unenforceable.
<br /> Successors and Asai�ns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest,this Deed of Trust shall be
<br /> binding upon and inure to the benefit of the parties,their successors and assigns. If ownership of the Property becomes vested in a person
<br /> other than Trustor, Lender, without notice to Trustor, may deal with Trustor's successors with reference to this Deed of Trust and the
<br /> Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of Trust or liability under the
<br /> Indebtedness.
<br /> Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br /> Walver of Homestead Exemptlon. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the State
<br /> of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br /> DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
<br /> Beneflciary. The word"Beneficiary"means FIRST NATIONAL BANK OF MARQUETTE,and its successors and assigns.
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<br /> Borrower. The word"Borrower"means David Wayne Ayres,and all other persons and enHties signing the Note.• � � � ' �
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