|
DEED OF TRUST
<br />Loan No: 1655695 (Continued) 200302086 Page 5
<br />being agreed that Trustee and Lander, and each of them, shall be entitled to enforce this Deed of Trust and any other security now or
<br />hereafter held by Lender or Trustee In such order and manner as they or either of them may in their absolute discretion determine. No
<br />remedy conferred upon or reserved to Trustee or Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by
<br />law provided or permitted, but each shall be cumulative and shall be in addition toevery other remedy given in this Deed of Trust or
<br />now or hereafter existing at law or in equity or by statute. Every power or remedy given by the Note or any of the Related Documents
<br />to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised, concurrently or independently, from time
<br />to time and as often as may be deemed expedient by Trustee or Lender, and either of them may pursue Inconsistent remedies.
<br />Nothing ip this Dead of Trust shall be construed as prohibiting Lender from seeking a deficiency judgment against the Trustor to the
<br />extent such action is permitted by law.
<br />Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone or together. If Lender
<br />decides to spend money or to perform any of Trustor's obligations under this Deed of Trust after Trustor's failure to do so, that
<br />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
<br />Notice 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' Fee., Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be
<br />entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any
<br />court action is Involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are
<br />necessary at any time for the protection of its interest or the enforcement of its rights shall became a part of the Indebtedness payable
<br />on demand and shall bear interest at the Nate rate from the date of the expenditure until repaid. Expenses covered by this paragraph
<br />include, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expanses,
<br />whether or not there is a lawsuit, including attorneys fees and expenses for bankruptcy proceedings (Including efforts to modify or
<br />vacate any automatic stay or Injunction), appeals, and any anticipated past - jutlgment collection services, the cost of searching
<br />records, obtaining This reports (including foreclosure reports), surveyors' reports, and appraisal face, title insurance, and fees for the
<br />Trustee, to the extent permitted by applicable law. Truster also will pay any court Costs, in addition to all other sums provided by
<br />A.
<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
<br />Deed of 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
<br />actions with respect to the Property upon the written request of Lender and Trustor: (a) join In preparing and filing a map or plat of
<br />this Real Property, including the dedication of streets or other rights to the public; 0) join in granting any easement a eating any
<br />restriction on the Real Property; and of join in any subordination or other agreement affecting this Deed of Trust or the interest of
<br />Lender under this Deed of Trust.
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set
<br />forth 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
<br />will have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable
<br />law.
<br />Successor Trustee, Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under
<br />this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of Hall County,
<br />State of Nebraska. The instrument shall contain, in addition to all other matters required by state law, the names of the original
<br />Lender, Trustee, and Truster, the book and page (or computer system reference) where this Deed of Trust is recorded, and the name
<br />and Address of the successor, trustee, and the Instrument shall be executed and anknewledged by all the beneficiaries under this Deed
<br />ul Trust or their Successors in interest The s or trustee, without conveyance of the Property, shall succeed to all the title,
<br />power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee
<br />shall govern to the exclusion of all 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
<br />sale shall be given In writing, and shall be adjective when actually delivered, when actually received by talefawimile (unless otherwise
<br />required by )awl, when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as
<br />first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All
<br />copies of notices of foreclosure from the holder of any lien which has priority over this Dead of Treat shall be sent to Lender's address, as
<br />shown near the beginning of this Deed of Trust. Any person may change his or her address for notices under this Deed of Trust by giving
<br />formal written notice to the other person or persons, specifying that the purpose of the notice Is to change the person's address. For
<br />notice purposes. Trustor agrees to keep Lender Informed at all times of Tructor's current address. Unless otherwise provided or required
<br />by law, if there is more than one Trustor, any notice given by Lender to any Trustor is deemed to be notice given to all Trostora. It will be
<br />Truster's responsibility to tell the others of the notice from 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 Toaster's entire agreement with Lender
<br />wrirning the matters covered by this Deed of Trust. To be effective, any change or amendment to this Deed of Trust must be in
<br />ting and must be 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
<br />define the provisions of this Dead 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
<br />Property at 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 Truster
<br />shall mean each and every Truster. This means that each Truster signing below is responsible for all obligations in this Dead 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
<br />so In writing. The tae[ that Lender delays or colts to exercise any right will not mean that Lender has given up that right. If Lender
<br />does agree in writing to give up one of Lender's rights, that does not mean Trustor will not have to comply with the other provisions
<br />of this Deed of Trust. Trustor also understands that If Lender does consent to a request, that does not mean that Trustor will not
<br />bave to at Lender's consent again if the situation happens again. Trustor further understands that just because Lender consents to
<br />one or more of Trustor 'a requests, that does not mean Lender will be required to consent to any of Trustor 's future requests. Trustor
<br />waives presentment, demand for payment, protest, and notice of dishonor.
<br />Severability. 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
<br />mean 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
<br />Dead of Trust even if a provision of this Dead 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
<br />sban be binding upon antl idure to the benefit of the parties, theirs and assigns. II ownership of the Properly becomes
<br />vested in a person other than Trustor, Lender, without notice to Trustor, may deal with Truster TS successors with reference to this
<br />Dead of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Dead of
<br />Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time Is of the essence in the performance of this Dead of Trust.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />
|