|
9 9 1 U 9 30 4 DEED OF TRUST Page 6
<br /> (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 law. Grantor also will pay any court costs,in addition to atl other sums provided by law.
<br /> Riphts of Trustee. Trustee shall have al�of the rights and duties of Lender as set forth in this section.
<br /> 21. GRANTOR'S RIGHT TO REINSTATE. If Grantor meets certain conditions,Grantor shall have the right to have enforcement of this Deed of Trust
<br /> discontinued at eny time pnor 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 ol sale contained in this Deed of Trust or (ii)entry of a judgment enforcing this Deed oi Trust. Those condiHons are
<br /> that Grantor: (a)pays Lender all sums which would then be due under this Deed oi Trust and the Credit Agreement had'no acceleration occuRed; (b)
<br /> cures all other defaults under this Deed of Trust and the Credit Agreement; (c)peys all reasonable expenses incuned in enforoing this Deed of Trust,
<br /> including,but not limited to,reasonable attorneys'fees;and (d)takes such action as Lender may reasonably require to essure that the lien of this Deed
<br /> of Trust, Lender's nghts 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 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,Tnastee sh811 have the power to teke the following actions with
<br /> respect to fhe Property upon t�e request ai Lender and Grantor: (a�join in preparicp A[ld filinp a m8p or plqt of t�e Re81 PropertY,including the
<br /> dedication of streets or other rights to the public; (b)join in granting any easement or creating any restnction on the F�eel'F�'�peity;�fitl (c)jan in
<br /> 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 afI qualifications required for Trustee under applicable law. 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 nght to
<br /> foreclose by judicial foreclosure,in either case in accordance with and to the full extent provided by applicable law.
<br /> Sutcessor 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 oi Trust is recorded, and the name and address of the successor trustee, and the inshumenl shatl be executed and
<br /> acknowledged by all the beneficiaries under the Deed of Trust or their successors in interest. The sucxessor trustee,without Conveyance of the
<br /> Property,shall succeed to all the title,power,and duties confeRed upon the Trustee in this Deed of Trust and by applicable law. This procedure
<br /> for substitution ot 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 effecrive when actually
<br /> delivered or,if mailed,shall be deemed effective when deposited in the United States mail first class,registered mail, postage prepaid,directed to the
<br /> addresses shown near the beginning of this Deed of Trust. Any party may change its address for notic�s 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. All copies of notices of foreclosure from
<br /> the hdder 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 end Trustee informed at all times of Grantor's current address.
<br /> 24. ASSOCIATION OF UNIT OWNERS. The following provisions apply it the Real Property 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 as it sees fit.
<br /> InauranCe. The insurance as required above may be carried by the association of unit owners on Grantor's behalf, and the proc;eeds of such
<br /> insurance may be paid to the association of unit owners for the purpose of repairing or reconstructing the Properly. If not so used by the
<br /> association,such proceeds shatl be paid to Lender.
<br /> CompllancE wtth Re�ulations of AssoCiation. Grantor shall perform all of the obligations imposed on Grantor by the deClaration submitting the
<br /> Real Property ta 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 submitted to unit ownership, Grantor shati perform all of the obligations
<br /> imposed on Grantor by the le�se of the Real Property from its owner.
<br /> 25. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a pad of this Deed of Trust:
<br /> Amendmenta. This Deed of Trust,together with any Related Documents,constitutes the entire understending and agreement of 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 /> Appliceble Law. This Deed of Trust shall be governed by and construed in accordance with the laws of the State of Nebrask8.
<br /> Caption Headinps. 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 oi Trusl.
<br /> Grantor's Copy of Documents. Lender agrees to provide Grantor with a conformed copy oi both the LOANLINER�Home Equiry Plen Credit
<br /> Agreement and this Deed of Trust et the time they are executed or within a reasonable time atter this Deed of Trust is recorded.
<br /> Merper. There shal�be no merger of the interest or estete creeted by this Deed of Trust with any other interest w esffite 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 /> Muttipk Parties. All obligations of Grantor under this Deed of Trust shall be joini and several,end all retere�to Grantor shall mean eech and
<br /> every Grantor. This means that each of the persons signinp below is responsible for all obligations in this Deed of Trust.
<br /> Severablllty. If a court of competent jurisdicUon finds any provision of this Deed of Trust to be invalid or unenforceable as to any person or
<br /> circumstance,such finding shall not render that provision invalid or unenforceable as to any other persons or CircumstanCes. Ii feasible,eny such
<br /> offending provision shall be deemed to be modified to be within the limits of enforceability or validity;however,ff the offending provision cannot be
<br /> so modified,it shall be stricken and all other provisions of this Deed oi Trust in all other respects shall remain valid and enforceable.
<br /> Acknowledyment. Prior to the execution hereof Grantor executed an acknowledgment statinp that Grentor understands that (a)this Deed of
<br /> Trust is a trust deed and not a mortgage and (b)the power of sale provided fw in this Deed of Trust provides substantially different rights and
<br /> obligations to Grantor than a mptgage in the event of defeult or breaCh of obligation.
<br /> Sucxessors and Asslgns. Subject to the limitations stated in this Deed of Trust on transfer of Grantor's interest, this Deed of Trust shall be
<br />
|