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DEED OF TRUST 9 9 1110 8 4 Page 5
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<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 /> Request for Notice. Trustor,on behalf of Trustor and Lender,hereby requests that a copy of any Notice of Default and a copy of any Notice
<br /> of Sale under this Deed of Trust be mailed to them at the addresses set forth in the first paragraph of this Deed of Trust. :
<br /> Attorneys'Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled
<br /> to recover such sum as the court may adjudge reasonable as attomeys'fees at trial and upon any appeal. Whether or not any court action is
<br /> involved, and to the extent not prohibited by law, 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 under applicable law, Lender's attorneys'fees and Lender's legal 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 law. 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 /> Rights 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 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
<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 office 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 ovemight 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 near the beginning of this Deed of Trust. All copies of notices of foreclosure
<br /> from 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
<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 current 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 of Trust and in the Related Documents is Trustor's entire agreement 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 Headings. 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 /> Governing Law. This Deed of Trust will be governed by and interpreted in accordance with federal law and the laws of the State of
<br /> Nebraska. This Deed of Trust has been accepted by Lender in the State of Nebraska.
<br /> Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint and several, and all references to Trustor shall
<br /> mean each and every Trustor. This means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<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 that if Lender does consent to a request, that does not mean that Trustor will not have to get Lender's consent
<br /> again if the situation happens again. Trustor further understands that just because Lender consents to one or more of Trustor's requests,
<br /> that does not mean 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 /> SeverabiUty. 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 Assigns. 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 ta 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 Deeci 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 /> Wa(ver of Homestead Exemption. 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 /> Beneficiary. The word"Beneficiary"means Martell State Bank,a branch of Security Bank,and its successors and assigns. :
<br /> Borrower. The word"Borrower"means Donald L.Dunn and Marsha M. Dunn,and all other persons and entities signing the Note.
<br /> Deed of Trust. The words "Deed of TrusY' mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limitation all
<br /> assignment and security interest provisions relating to the Personal Property and Rents. :
<br /> Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances
<br /> relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response,
<br /> Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and :
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