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os-2�-�sss DEED OF TRUST ,�'. `` � ' '` � rr f' Page 7 <br /> Loan No 765175 �Go�nuect� ��9 10 9�"5 7 9 <br /> POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to tl�powers and obligatlons 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 Property, <br /> including the dedication of streets or other�ights to the public; (b)join In granting any easement or creating any resMctfon 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 law. In additfon 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 rfght 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 tfine to time appofnt a successor Trustee to any Trustee appo(nted hereunder by an <br /> instrument executed and acknowledged by Lender and recorded in the oifice 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 reference)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 trustee 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 telefacsimile (unless <br /> otherwise required by law), and shall be effective when actually delivered, or when deposited with a nationally recognized overnight courier, or, if <br /> mailed,shall be deemed effective when deposited in the United States mail first class,certifled or registered mail,postage prepald, directed to the <br /> addresses shown near the beginning of this Deed of Trust. Any party may change its address for noticas u�der 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 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,Trustor agrees to keep Lendar and Trustee informed at all times of Trustor's current 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 agreementbf tlae 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 unle,s6 given in writing and <br /> 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 certifled <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 Property. <br /> Applicable Law. This Deed of Trust has been delivered to Lender and accepted by Lender In the State o4 Nebraska. This Deed of Trust <br /> shall be govemed by and construed in accordance with the laws of the State ot Nebraska. <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 the <br /> provisions of this Deed of Trust. <br /> Merger. There shall be no merger of the interest or estate created by this Dsed of Trust with any other interest or estate fn the Property at any <br /> time held by or for the benefit of Lender in any capacity,without the written consent of Lender. <br /> Severability. If a court of competent jurisdiction 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. If feasible, any <br /> such offending provision shall be deemed to be modified to be within the limits of enforceability or validiiy; however, if the offending provision <br /> cannot be so modified,it shall be stricken and all other provisions of this Deed of Trust in all other respects shall remain valid and enforceable. <br /> Successors and Assigns. Subject to the 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 benetit 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 extonsion wi;hout releasing Trustor from thQ 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 /> Waivers and Consents. Lender shall not be deemed to have waived any rights under this Deed of Trust(or under the Related Documents) <br /> unless such waiver is in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a <br /> waiver of such right or any other right. A waiver by any party of a provision of this Deed of Trust shall not constitute a waiver of or prejudice the <br /> party's right otherwise to demand strict compliance with that provision or any other provision. 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 any of Trustor's obligations as to any future <br /> transactions. Whenever consent by Lender is required in this Deed of Trust,the granting of such consent by Lender in any instance shall not <br /> constitute continuing consent to subsequent instances where such consent is required. <br /> Waiver of Homestead bcemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of <br /> Nebraska as to all Indebtedness secured by this Deed of Trust. <br /> , <br />