|
MAR -18-02 MON 10:49 AM
<br />Loan No: 19342
<br />FAX:
<br />DEED OF TRUST
<br />(Continued)
<br />PAGE 11
<br />200203360
<br />Page 5
<br />not affect Lender's right to declare Tfusla In default and to exercise Lenders 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 or any Notes
<br />of Sale under this Dead of Trust be mailed to them of the addresses sal forth in the list paragraph of this Deed of Trust.
<br />Attorneys' Fees; Expenses, II Lender Inslitifes any suit or action to enforce any of the terms of this Dead of Trust. Lender shall be BnfiINW
<br />to recover such sum as the toad may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is
<br />involved, and to the extant not prohibited by law, all reasonable expenses Lender Incurs that in Lender's opinion are necessary at any firms
<br />fa the protection of ds interest w 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 expendlum until repaid Expenses covered by this paragraph include, without limitation,
<br />however subject to any limits under applicable law, Lender's alarroys' fees and Lender's legal expenses, whether w not there Is a lawsuit,
<br />Including atotheys' lees and expenses fa bankrupley proceedings.(InUuding efforts to modify or vacate any aulomatic stay or injunction),
<br />appeals, and any anticipated post - judgment collection services. Ito cost Of searching records, obtaining title reports (including lorecimure
<br />reports). surveyors' reports, and appralsol fees, title insurance, and fees for the Trustee, to the extent permitted by applicable ow. Trustar
<br />also will pay any court costs, in addition to all other sums provided bylaw.
<br />Rights Of Trustee. Trustee shall have all of the rights and duties of Lender as set form in this section.
<br />POWERS AND OBLIGATIONS OF TRUSTEE. The following prowsior5 relating to the powers and obligations of Trustee are pan of this Deed of
<br />Trust:
<br />Powers of Trustee. In addition to all powers of Trustee arising as a matter of taw. 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 (o) join In any subordleatlon or other agreement affecting this Deed or 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 fights and remedies set forth
<br />above, with respecl 10 all or any part of the Property, the Trustee Shall have the right to loreclose by notice and sets, and Lender will haw the
<br />right to foreclose by judicial foreclosure, in either case in accordance with and to the lull Went provided by applicable law.
<br />Successor Trustee. 'Lander, at Lender's option. may Irom time to time appoint a successor Trustee to any Trustee appointed under this
<br />Deed of Tryst by an irlslmment executed and acknowledged by Lender and recorded in the office of the recorder of Hall County, Stale of
<br />Nebraska. The instrument shall Contain, 0 addition to all other matters required by state taw, the names of the original Lander, 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 befuriclarles under this Deed of Trust or their
<br />successors in interest. The successor Irustee, without Conveyance of the Property, shall succeed to all the life, power, and duties conferred
<br />upon the Trustaetn this Dead of Trust and by applicable law. This procedure for substitution Of Trustee shall govern to the exUusion of all
<br />other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Dead 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 lelelricsimle (unless otherwise required by law),
<br />when deposied with a nationally recognized overnight courier, or, it mailed, whon deposited in the United Slates mall, as first class, cediflad or
<br />registered mad 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 Ilan which has priority over this Dead or Trust shall be sent to Lenders address, as shown near the beginning of this Dead
<br />of Trust. Any person may change his a her address for notices under this Deed of Trust by giving formal written nodce to the other person or
<br />persons, specifying that the purpose of the notice is to change the person's address. Fa rides purposes, Trustor agrees to keep Lander
<br />informed at all Imes of Trustor's current address. Unless otherwise provided or required by law, it there is more than one Truslar, any notice
<br />given by Lander to any Trustor is deemed to be notice given to all Trusters. It wig be Trusters responsibility to tall 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 Trustees entire agreement with Lender concerning the
<br />matters covered by this Deed of Trust. To be ettecilw, any change or amendment to this Deed of Troll must be in writing and must be
<br />signed by whoever will be bound Or obligated by the change or amendmenl.
<br />Caplan Neadings. Caption headings In this Deed of Trust sea 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 shag be no merger of the interest or estate Created by this Deed of Trust with any other Interest or estate in the Properly at
<br />any lima held by or for the benefit of Lender in any capacity, without the written consent of Lander.
<br />Governing Law. This Deed of Trust will be governed by and Interpreted In accordance wllh federal law and the laws of the Slate at
<br />Nebraska. This Deed of Trust has been accepted by Lender In the Slate of Nebraska.
<br />Choice of Venue. h Mare is a lowsuil, Trustor agrees upon Lender's request to submit to the jurisdiction at the courts of Merrick County,
<br />Slate of Nebraska -
<br />Joint antl Several Liability. Al obligations of Trustor under this Deed at Trust shall be joint and several, and all references to Ti ustor shall
<br />mean each and every Trustor. This means that each Trusts signing below is responsible for all obligations In this Deed of Trust.
<br />No Waiver by Lender. Trustaf understands Lender will not give up any of Lender's lights under this Deed of Trust unless Lander does an In
<br />writing. The fad that Lander delays or omits to exercise any righl will not man that Lender has given up that fight. If Lender does agree In
<br />writing to give up one of Lender's rights, that does not mean Trust& will not have to comply with the other provisions of this Dead of Trust.
<br />Truster also undresh Inds that if Lender does consent to a request, that does nut mean that Trustor will not have to get Lender's consent
<br />again If the situation happens again. Truster turther understands that just because Lender consents to one or more of Tronors requests,
<br />that dam not mean Lender will be required to consent to any of Trustees future requests. Truster waives presentment, demand for payment,
<br />prolost, and notice of dishonor.
<br />Severabigly. If a court finds that any provision of this Deed of Trust Is not valid or should not be enforced, that fact by Itself win not mean
<br />that the rut of this Deed of Trust will not be valid or enforced. Therelom, a court will enforce the rest or the provisions of this Deed at Trust
<br />even if a provision of this Dead of Trust may be found to be inwlid or unenforceable.
<br />Successors antl Assigns. Subject to any lannalions stated in this Deed of Trust on hanstsr of Truslors interest, this Deed of Trust shell be
<br />binding upon and snore to the benefit arms parties, In& successors and assigns. If ownership Of the Property becomes vested in a poison
<br />other than Trgster, Lender, without notice to Truster, may deal with Truslar's successors with reference to this Deed of Trusl and the
<br />Indebtedness by way of forbearance or extension without releasing Trusts from the obligations W this Deed of Trust a liability under the
<br />Indebtedness.
<br />Time Is of the Essence. Time Is of the essancs in the performance of this Deed of Trust.
<br />Waiver of Homestead Exampllon. Truster hereby releases and waives all rights and benefits of the homestead oxempbon laws of the State
<br />of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following words shall hew the following meanings when used in this Deed of Troe
<br />Beneficiary, The word "Benehetary' means Farmers Slate Bank, and its successors and assigns.
<br />Borrower. The word "Borrower' means Linda A. Penner and Steve Parker, and of other persons and entities signing the Note.
<br />Dead of Trust. The words "Deed of Trusl' mean this Dead of Trust among Trustor. Lender, and Trustee, and includes without timilation 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 slate, federal and local stafufea, regulations and ordinances
<br />relating to this protection of human health w the environment, Including without Ilmltallon the Comprehensive Environmental Responso.
<br />Compensation, and Liability Act of 1980, 85 amended, 42 U.S.C. Section 9601, of seq. ('CERCLA7. the Supedund Amendments and
<br />
|