|
DEED OF TRUST 200208456
<br />Loan No: 774831 (Continued) Page 7
<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 pan 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 Truster: (a) join in preparing and filing a map or plat of
<br />the Real Property, including the dedication of streets o r a
<br />other rights to the public; (b) join in granting any easement or creating any
<br />restriction on the Real Property; and (c) 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 meat 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 />shall 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 born time to time appoint a su or 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 Nnbraska. The Instrument shall contain, in addition to all other matters required by state low, the names of the original
<br />Lender, Trustee, and Trustor, 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 acknowledged by all the beneficiaries under this Dead
<br />of Trust or their successors in interest. The successor 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 effective when actually delivered, when actually received by telefacaimile (unless otherwise
<br />required by law), when deposited with a nationally recognized o rnight 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 Dead of Trust. All
<br />copies of notices of foreclosure from the holder of any lien which bus priority over this Deed of Trust shall be sent to Lender's address, as
<br />shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal
<br />written notice to the other parries, specifying that the purpose of the notice is to change the party's address. For notice purposes, Trustor
<br />agrees to keep Lender informed at all limes of Trustor's current address. Unlnss ntherwise provided or required by law, if there is more
<br />than one Trustor, any notice given by Lender to any Trustor is doomed to be notice given to all Trusters.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />Amendments. This Deed of Trust, together with any Related Documents, carcinoma the entire understanding and agreement of the
<br />parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Dead of Trust shall be effective unless
<br />given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment.
<br />Annual Reports. If the Property is used for purposes other than Truvmr'a residence, Trustor shall furnish to Lender, upon request, a
<br />certified statement of net operating income received torn the Property during Trustor's previous fiscal year in such form and detail as
<br />Lender shall require. "Net operating income' shall mean all cash receipts from the Property less all cash expenditures made in
<br />connection with the operation of the Property.
<br />Caption Headings. Caption headings In this Deed of Trust are for convenience purposas only and are not to be used to interpret or
<br />define the provisions of this Deed of Trust.
<br />Merger. There shall be no erger of the interest or estate created by this Deed of Trust with any other interest or estate in the
<br />Property at any time hold 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, construed and enforced in accordance with federal law and the laws of the
<br />State of Nebraska. This Deed of Trust has been accepted by Lender In the State of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Trustor amens upon Lender's request to submit to the jurisdiction of the courts of HALL
<br />County. State of Nebraska.
<br />Joint and Several Liability. All obligations of Borrower and Trustor under this Deed of Trust shall be joint and several, and all
<br />references to Truster shall mean each and every Truster, and all references to Borrower shall mean each and every Borrower. This
<br />means that each Borrower and Trustor signing bolo- Is - ,jdx,sdi for all obligations in this Deed of Trust.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such w is given in
<br />writing and Signad by Lender. No delay o n the part of Lender in exercising any right shall operate as auwaiver of such
<br />right or any other right A waiver by Lender of la aprovion of this Deed of Trust shall not prejudice or constitute a waiver of Lender's
<br />right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by
<br />Lender, nor any c of dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights o of any of
<br />Trustor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting
<br />of such c ent by Lender in any instance shall not c titute continuing consent to subsequent Instances where such consent is
<br />required and ns
<br />in all cases such consent may be granted or withheld In the solo d'scralion of Lender.
<br />Sevarability. If a court of compatriot jurisdiction finds any provision of this Dead of Trust to be illegal, invalid, or unenforceable as to
<br />any person or circur—Wnco, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other person
<br />or circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid -end enforceable. If
<br />the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by
<br />law, the illegality, invalidity, or enforceability of any provision of this Dead of Trust shall not affect the legality, validity or
<br />unforceamity of any other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitations stated In this Doud of Trust on transfer of Trustor's interest, this Deed of Trust
<br />
|