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<br /> E. Upon the occurrence of any default hereunder, BENEFICIARIES shall have, in
<br /> addition to such other options as may be granted herein, the further
<br /> option to foreclose this Deed of Trust in the manner provided by law for
<br /> foreclosures of mortgages on real property.
<br /> F• BENEFICIARIES may from time to time substitute a successor or successors
<br /> to any TRUSTEE named herein or acting hereunder. Upon such appointment,
<br /> and without conveyance to the successor TRUSTEE, the latter shall be
<br /> vested with all title, powers, and duties conferred upon any TRUSTEE
<br /> herein named or acting hereunder. Each such appointment and substitution
<br /> shall be made by written instrument and executed by BENEFICIARIES,
<br /> containing reference to this Deed of Trust and its place of record, which,
<br /> when recorded in the office of the Register of Deeds of the county or
<br /> counties in which said property is situated, shall be conclusive proof of
<br /> proper appointment of the successor TRUSTEE. The foregoing power of
<br /> substitution and the procedure therefor shall not be exclusive of the
<br /> power and procedure provided for by law for the substitution of a TRUSTEE
<br /> in the place of the TRUSTEE named herein.
<br /> G. TRUSTORS covenant and agree that upon any attempted conveyance,
<br /> assignment, pledge or transfer of any of their interest in the premises
<br /> during the term of the loan secured hereby, the BENEFICIARIES shall have
<br /> the option of declaring the unpaid balance immediately due and payable,
<br /> and if said sum remains unpaid for ten (10) days thereafter, BENEFICIARIES
<br /> can cause Notice of Default to be given and the premises be sold as
<br /> provided herein.
<br /> H. As additional and collateral security for the loan, and effective
<br /> forthwith upon filing of a Notice of Default, this instrument shall serve
<br /> as an assignment by the TRUSTORS to the TRUSTEE, of all rents and revenues
<br /> resulting from the property, and TRUSTEE is authorized to take possession
<br /> of the property, rent or lease the same on terms he deems best and to
<br /> collect the rents and revenues and apply the same upon unpaid interest,
<br /> principal, taxes or insurance premiums or for maintenance and preseYVation
<br /> of the premises.
<br /> I. The waiver by TRUSTEE or BENEFICIARIES of any default of TRUSTORS under
<br /> this Deed of Trust, on one occasion, shall not be or be deemed to be a
<br /> waiver of any other or similar defaults subsequently occurring.
<br /> J• If title to any part of the property herein shall be taken in condemnation
<br /> proceedings, by right of eminent domain, or similar action, or shall be
<br /> sold under threat of condemnation, all awards, damages and proceeds are
<br /> hereby assigned and shall be paid to the BENEFICIARIES, who shall apply
<br /> such payment, or any part thereof, in their sole discretion, to the sum
<br /> due at that time on this Deed of Trust and Trust Deed Note, with any
<br /> balance above the amount due hereunder payable to the TRUSTORS.
<br /> K. The BENEFICIARIES, their agents or representatives, are hereby authorized
<br /> to enter, at any reasonable time, upon any part of the trust property for
<br /> the purposes of inspecting the same and for the purpose of performing any
<br /> of the acts they are authorized to perfoYm under the teYms of this Deed of
<br /> Trust and other accompanying documents.
<br /> L. This Deed of Trust and all accompanying documents are subject to,
<br /> constructed and governed by the laws of the State of Nebraska for all
<br /> purposes.
<br /> M. In the event any one or more of the provisions contained in this Deed of
<br /> Trust, Trust Deed Note, or any other instrument given in connection with
<br /> this transaction, shall for any reason be held to be invalid, illegal or
<br /> unenforceable in any respect, such invalidity, illegality, or unenforce-
<br /> ability shall, at the option of the BENEFICIARIES, not affect any other
<br /> provisions of this Deed of Trust or Trust Deed Note, but this Deed of
<br /> Trust and Trust Deed Note shall be construed as if such invalid, illegal
<br /> or unenforceable provision had never been contained therein, it being the
<br /> intention of the parties that the provisions of this Deed of Trust are
<br /> declared to be severable.
<br /> N. TRUSTORS hereby waive their right to designate the property subject to
<br /> this Deed of Trust as a homestead under Neb. Rev. Stat. § 40-101 (Reissue
<br /> 1993) .
<br /> O. This Deed of Trust shall inure to and bind the heirs, devisees, personal
<br /> representatives, successors and assigns of the parties hereto.
<br /> The TRUSTORS request that a copy of any Notice of Defautt and of any Notice
<br /> of Sale hereunder be mailed to them at the address herein set forth, or such
<br /> other address as they may provide to the TRUSTEE and BENEFICIARIES. TRUSTORS
<br /> acknowledge that as TRUSTORS, they understand that the document they are
<br /> executing herein is a Deed of Trust and not a mortgage, and that the power of
<br /> sale provided for in this Deed of Trust provides substantially different rights
<br /> and obligations than a mortgage and in an event of default or breach of the
<br /> obligations set forth herein, the TRUSTEE and the BENEFICIARIES may take such
<br /> action as herein provided, including the exercise of the power of sale.
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