|
200410736
<br />time of sale. Trustee shall deliver to such purchaser or purchasers thereof, its good and
<br />sufficient deed or deeds, conveying the property so sold, but without any covenant or
<br />warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including, without limitation, Trustee,
<br />and Beneficiaries, may purchase at such sale, and hereby covenants to warrant and defend
<br />the title of such purchaser or purchasers.
<br />(b) As may be permitted by law, after deducting all costs, fees, expenses of Trustee
<br />and of this Trust, including costs of evidence of title in connection with sale, Trustee shall
<br />apply the proceeds of sale to payment of (i) all sums expended under the terms hereof, not
<br />then repaid, with accrued interest at twelve (12 %) percent per annum, (ii) all other sums then
<br />secured hereby, and (iii) the remainder, if any, to the person or persons legally entitled
<br />thereto.
<br />(c) Trustee may, in the manner provided by law, postpone sale of all or any portion of
<br />the Trust Estate.
<br />13. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiaries, and each of them,
<br />shall be entitled to enforce payment and performance of any indebtedness or obligations
<br />secured hereby and to exercise all rights and powers under this Deed of Trust or under any
<br />Loan Instrument or other agreement or any laws now or hereafter in force, notwithstanding
<br />some or all of the such indebtedness and obligations secured hereby may now or hereafter
<br />be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or
<br />otherwise. Neither the acceptance of this Deed of Trust nor its enforcement whether by court
<br />action or pursuant to the power of sale or other powers herein contained, shall prejudice or in
<br />any manner affect Trustee's or Beneficiaries' right to realize upon or enforce any other
<br />security now or hereafter held by Trustee or Beneficiaries, it being agreed that Trustee and
<br />Beneficiaries, and each of them, shall be entitled to enforce this Deed of Trust and any other
<br />security now or hereafter held by Beneficiaries or Trustee, in such order and manner as they
<br />or either of them may in their absolute discretion determine. No remedy herein conferred
<br />upon or reserved to Trustee or Beneficiaries is intended to be exclusive of any other remedy
<br />herein or by law provided or permitted, but each shall be cumulative and shall be in addition to
<br />every other remedy given hereunder or now or hereafter existing at law or in equity or by
<br />Statute. Every power or remedy given by any of the Loan Instruments to Trustee or
<br />Beneficiaries 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
<br />by Trustee or Beneficiaries; and either of them may pursue inconsistent remedies. Nothing
<br />herein shall be construed as prohibiting Beneficiaries from seeking a deficiency judgment
<br />against the to the extent such action is permitted by law.
<br />14. REQUEST FOR NOTICE. Trustor hereby requests a copy of any notice of
<br />default, and that any notice of sale hereunder be mailed to them at the address set forth in the
<br />first paragraph of this Deed of Trust.
<br />15. GOVERNING LAW. This Deed of Trust shall be governed by the laws of the
<br />State of Nebraska. In the event that any provision or clause of any of the Loan Instruments
<br />conflicts with applicable laws, such conflicts shall not affect other provisions of such Loan
<br />Instruments which can be given effect without the conflicting provisions; and to this end, the
<br />provisions of the Loan Instruments are declared to be severable. This instrument cannot be
<br />waived, changed, discharged, or terminated orally, but only by an instrument in writing signed
<br />by the party against whom enforcement of any waiver, change, discharge or termination is
<br />sought.
<br />16. RECONVEYANCE BY TRUSTEE. Upon written request of Beneficiaries stating
<br />that all sums secured hereby have been paid, and upon surrender of this Deed of Trust and
<br />the Note to Trustee for cancellation and retention and upon payment by Trustor of Trustee's
<br />fees, Trustee shall reconvey to, or the person or persons legally entitled thereto, without
<br />warranty, any portion of the Trust Estate then held hereunder. The recitals in such
<br />reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof.
<br />The grantee in any reconveyance may be described as "the person or persons legally entitled
<br />thereto ".
<br />17. NOTICES. Whenever Beneficiaries, Trustor or Trustee shall desire to give or
<br />serve any notice, demand, request or other communication with respect to this Deed of Trust,
<br />4
<br />
|