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•� aaa08-1999 DEED OF TRUST Page 5
<br /> Loan No 99542 ; . � (Continued) 9 9 110 6 9 4
<br /> profits, and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust or invalidate any act
<br /> done in response to such default or pursuant to such notice of default;and,notwithstanding the continuance in possession of the Property
<br /> or the collection,receipt and application of rents,issues or profits,Trustee or Lender shall be entitled to exercise every right provided for in
<br /> the Note or the Related Documents or by law upon the occurrence of any event of default,including the right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or speciflcally enforce any of the covenants
<br /> hereof;and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause Trustor's
<br /> interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the appropriate o�ces of the County in
<br /> which the Property is located;and
<br /> (d) With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the
<br /> Nebraska Uniform Commercial Code.
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained,Lender shall notify Trustee and
<br /> shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured by this Deed of
<br /> Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause to be recorded,published and delivered to Trustor such Not(ce of Default
<br /> and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall, wfthout demand on Trustor,after such time as may
<br /> xhen b�e re�,u�y law and after recordaHon of such Notice of Default and after Notice of Sale having been given as requlred by law,sell �`�'
<br /> the ��[ene and place of sale flxed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as
<br /> Trustee shall deem expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of
<br /> the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or
<br /> deeds conveying the property so sold,but without any covenant or warranty,express or implied. The recitals in such deed of any matters
<br /> or facts shall be conciusive proof of the truthfulness thereof. Any person, including without limitation Trustor,Trustee, or Lender, may
<br /> purchase at such sale.
<br /> (b) As may be permitted by Iaw,after deducting all costs,fees and expenses of Trustee and of this Trust,including costs of evidence ot
<br /> title in connection with sale,Trustee shall apply the proceeds of sale to payment of (i)all sums expended under the terms of this Deed of
<br /> Trust or under the terms of the Note not then repaid,including but not limited to accrued interest and Iate charges, (ii)all other sums then
<br /> secured hereby,and (iii)the remainder,if any,to the person or persons legally entitled thereto. ;;�
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property. °
<br /> Remedies Not Exclusive. Trustee and Lender,and each of them,shall be entitled to enforce payment and performance of any indebtedness
<br /> or obligations secured by this Deed of Trust and to exercise ali rights and powers under this Deed of Trust, under the Note, under any of the
<br /> Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding, some or all of such indebtedness
<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 of 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 /> entitied 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 existing 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 /> concurrently or independently, from time to time and as often as may be deemed expedient by Trustee 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 Iaw.
<br /> Request For Notice. Trustor,on behalf of Trustor and Lender, hereby requests that a copy of any Notice of Defsult and a copy of any Notice
<br /> of Sale under thls Deed of Trust be mailed to them at the addresses set forth in the first paragraph of this Deed of Trust.
<br /> Walver; Election 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 otherwise 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 shall not affect Lender's right to declare a default and to exercise any of its remedies.
<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 QF 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 marier 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)jan 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 afi quatifications 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 right to
<br /> foreclose by judicial foreclosure,in either case in accordance with and to the full e�ent 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 in the office of the recorder of Hall County, Nebraska. The instrument shall
<br /> contain, in addition to all other matters required by state Iaw, 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 /> _ 9klierwise required by law), and shall be effective when actua►ly delivered, or when deposlted with a nationaliy recognized ovemight courier, or, if
<br /> mailed,shall be deemed effective when deposited in-the United States mail firsl c�ass,cerfifiedor 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 notices 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 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 Lender 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 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 /> 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 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 Property.
<br /> Applicable Law. Thfs Deed of Trust has been delivered to Lender and accepted by Lender in the State of Nebraska. This Deed of Trost
<br /> shall be governed by and construed in accordance with the laws of the State of 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 Deed of Trust with any other interest or estate in the Properfy at any
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