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200408066
<br />Vl WBCD LOAN # 500224476
<br />Executive Officers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Borrower becomes
<br />indebted to Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal
<br />laws and regulations.
<br />9. REMEDIES ON DEFAULT. In addition to any other remedy available under the terms of this Security 1pstrument,
<br />Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided bylaw if Trustor
<br />is in default. In some instances, federal and state law will require Beneficiary to provide Trustor with notice of the right
<br />to cure, or other notices and may establish time schedules for foreclosure actions. Each Trustor requests a copy of any
<br />notice of default and any notice of sale thereunder be mailed to each Trustor at the address provided in Section 1 above.
<br />At the option of the Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall
<br />become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or
<br />anytime thereafter.
<br />If there is a default, Trustee shall, at the request of the Beneficiary, advertise and sell the Property as a whole or in
<br />separate parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all right,
<br />title and interest of Trustor at such time and place as Trustee designates. Trustee shall give notice of sale including
<br />the time, terms and place of sale and a description of the property to be sold as required by the applicable law in
<br />effect at the time of the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the
<br />Property sold which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall
<br />pay to Beneficiary all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances
<br />and interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor.
<br />Beneficiary may purchase the Property. The recitals in any deed of conveyance shall be prima facie evidence of the
<br />facts set forth therein.
<br />The acceptance by Beneficiary of any sum in payment or partial payment on the Secured Debt after the balance
<br />is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right
<br />to require complete cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary does
<br />not waive Beneficiary's right to later consider the event a default if it happens again.
<br />10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Trustor breaches any
<br />covenant in this Security Instrument, Trustor agrees to pay all expenses Beneficiary incurs in performing such covenants
<br />or protecting its security interest in the Property. Such expenses include, but are not limited to, fees incurred for
<br />inspecting, preserving, or otherwise protecting the Property and Beneficiary's security interest. These expenses are
<br />payable on demand and will bear interest from the date of payment until paid in full at the highest rate of interest in effect
<br />as provided in the terms of the Secured Debt. Trustor agrees to pay all costs and expenses incurred by Beneficiary in
<br />collecting, enforcing or protecting Beneficiary's rights and remedies under this Security Instrument. This amount may
<br />include, but is not limited to, Trustee's fees, court costs, and other legal expenses. To the extent permitted by the United
<br />States Bankruptcy Code, Trustor agrees to pay the reasonable attorneys' fees Beneficiary incurs to collect the Secured
<br />Debt as awarded by any court exercising jurisdiction under the Bankruptcy Code. This Security Instrument shall remain
<br />in effect until released. Trustor agrees to pay for any recordation costs of such release.
<br />11. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA,
<br />42 U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney
<br />general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous
<br />substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or
<br />contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public
<br />health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous
<br />material," "toxic substances," "hazardous waste" or "hazardous substance" under any Environmental Law.
<br />Trustor represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or
<br />will be located, stored or released on or in the Property. This restriction does not apply to small quantities
<br />of Hazardous Substances that are generally recognized to be appropriate for the normal use and
<br />maintenance of the Property.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have
<br />been, are, and shall remain in full compliance with any applicable Environmental Law.
<br />C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs
<br />on, under or aboutthe Property or there is a violation of any Environmental Law concerning the Property. In such
<br />an event, Trustor shall take all necessary remedial action in accordance with any Environmental Law.
<br />D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any
<br />pending or threatened investigation, claim, or proceeding relating to the release or threatened release of
<br />any Hazardous Substance or the violation of any Environmental Law.
<br />12. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />13. JOINT AND IN DIVI DUAL LIABILITY; CO-SIG NERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this
<br />Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence
<br />of debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt
<br />and Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty
<br />between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any
<br />action or claim against Trustor or any party indebted under the obligation. These rights may include, but are not
<br />Initials: Nil
<br />NEBRASKA - HOME EQUITY LINE OF CREDIT DEED OF TRUST (NOT FOR FNMA, FHLMC, FHA OR VA USE)
<br />&q!Fw- •© 1994 Bankers Systems, Inc., St. Cloud, MN Form OCP- REDT -NE 1/30/2002
<br />��- C465(NE) (0301) VMP MORTGAGE FORMS - (800)521 -7291
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