|
99 11092 �
<br /> ;; �; M ;; �� t;��' 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 cou�t costs,in addition to all other sums provided by law.
<br /> Rights of Trustee. Trustee shall have all of the nghts 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 any time prior to the earlier of (i)five(5)days(or such other period as applicable law may specify for reinstatement)before sele of the
<br /> Property pursuent to any power of sale contained in this Deed of Trust or (ii)entry of a judgment enforcing this Deed of Trust. Those conditions are
<br /> that Grentor: (e)peys Lender all sums which would then be due under this Deed of Trust and the Credit Agreement had no acceleration occurted; (b)
<br /> cures all other detaults under this Deed of Trust and the Credit Agreement; (c}pays all reasonable expenses incurred in enforcing this Deed of Trust,
<br /> including,but not limited to,reasonable attorneys'fees;and (d)takes such action as lender may reasonably require to assure that the iien of this Deed
<br /> of Trust, Lender's nghts in the Property and Grantor's obligaiion to pay the sums secured by this Deed of Trust shall continue unchanged. Upon
<br /> reinstatement 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 marier of law,Trustee shall have the power to take the following actions with
<br /> respect to the Properiy upon the request of Lender and Grantor: (a)jan in preparing and filing a map or plat of the Real Property,including the
<br /> dedication of streets or other rights to the public; (b)join in granting any easement or CreSting any restriction on the Real Property;and (c)join 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 all qualifications required for Trustee under applicabte law. In addition to the rights and reme�ies set fo�th 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 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 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 stete law,the names oi the original Lender,Trustee, and Grantor, the book and page(or computer system reference)
<br /> where this Deed of Trust is recorded, and the name and address ot the successor trustee, and the instrumenl shall be executed and
<br /> acknowledged by all the beneficiaries under the Deed of Trust or their successors in interest. The successor trustee,without conveyance of the
<br /> Property shall succeed to all the title,power,and duties conferred upon the Trustee in this Deed of Trust and by 8pplicable law. This procedure
<br /> for substitution of 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 effeCtive 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 notices under this Deed of Trust by giving formal
<br /> written notice to the other parties,specifying that the purpose oi the notice is to change the perty's address. All copies of notices ot 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,Grantor agrees to keep Lender and Trustee informed si all times of Grantor's current address.
<br /> 24. ASSOCIATION OF UNIT OWNERS. The following provisions apply if the Real Property has been submitted to unit owneBhip law or similar Iaw
<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 /> associarion oi 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 behelf, and ihe proceeds of such
<br /> insurance may be paid to the association of unit owners for the purpose of repairing or reconstructing the Property. If not so used by the
<br /> association,such proceeds shall be paid to Lender.
<br /> Complfance wlth Regulatfons of AssoClation. Grantor shall perform all of the obligetions imposed on Grantor by the declaration submitting the
<br /> Real Property to unit ownership,by the bylaws of the association of unit owners,or by any rules or regulations thereunder. If Grantors interest in
<br /> the Real Property is a leasehold interest and such property has been submitled to unit ownership, Grantor shall perform all of the obligations
<br /> imposed on Grantor by the lease of the Real Property from its owner.
<br /> 25. MISCEIIANEOUS PROVISIONS. The followin�miscelleneous provisions are a part of this Deed of Trust:
<br /> Amendmenta. This Deed of Trust,together with any Related Documents,constitutes the entire understanding and agreement of the parties as to
<br /> the matters set forth in this Deed ot Trust. No elteration of or amendment fo this Deed of Trust shall be eNective unless given in writing and signed
<br /> by the party or parties sought to be charged or bound by the alteration or amendment.
<br /> Applltable Lew. This Deed of Trust shall be governed by and construed in accordance with the laws of the State of Nebraska.
<br /> Caption Fkadinps. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or deflne the
<br /> provisions of this Deed of Trust.
<br /> Grantor's Copy of Documents. Lender agrees to provide Grantor with a conformed copy of both the LOANLINER� Home Equity Plan Credit
<br /> Agreement and this Deed of Trust at the time they are executed or within a reasonable time atter this Deed of Trust is reCOrded.
<br /> � Merper. 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 /> Muttipk Perties. All obligations of Grantor under this Deed of Trust shall be joint and several,and all referenoes to Grantor shall mean each and �
<br /> every Grantor. This means that each of the persons signinp below is responsible for all obligations in ttris Deed of Trust.
<br /> Severablltty. If a couA ot competent junsdiCtion finds any provision of this Deed of Trust to be invfllid or unentorCeable as fo any person or
<br /> ciroumstance,such finding shall not render that provision invalid or unenforceable as to any other persons or dreumstances. If feasible,any such
<br /> offending provision shall be deemed to be modified to be within the Iimits of enforceability or validity however,ii the offendinp provision cannot be
<br /> so modified,it shall be stricken and all other provisions of this Deed of Trust in all other respects shall remain valid and enforoeable.
<br /> Adcnowledpment. Prior to the execu6on hereof Grantor executed an acknowledgment staring that Grantor understands that (a) this Deed oi
<br /> Trust is a trust deed and not a mortgage and (b)the power of sale provided for in this Deed of Trust provides substentialty dMferent rights and
<br /> obligations to Grantor than a mortgaee in the event of detautt or breach of obligation.
<br /> Successors and Asstgns. Subject to the limitations stated in this Deed oi Trust on transfer of Grantor's interest, this Deed of Trust shall be
<br /> __ �
<br />
|