|
200213442
<br />DEED OF TRUST
<br />Loan No: 775917 (Continued) Page 7
<br />Nebraska. The instrument shall contain, in addition to all other matters required by state law, the names of the original Lender, 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 beneficiaries under this Deed of Trust or their
<br />successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the title, power, and duties conferred
<br />upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee shall govern to the exclusion 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 telemosimile (unless otherwise required by law),
<br />when deposited with a nationally recognized overnight courser, or, it mailed, when deposited in the United States mail, as first class, caddied or
<br />registered mail postage prepaid, directed to the addresses shown near the beginning of this Dead of Trust. All copies of notices of foreclosure
<br />from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning of this Dead
<br />of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties, specifying that
<br />the purpose of the notice is to change the party's address. For nohce purposes, Trustor agrees to keep Lender informed at all times of Trustor's
<br />current address. Unless otherwise provided or required by law, if there is more than one Trustor, any notice given by Lender to any Trustor is
<br />deemed to be notice given to all Trustors.
<br />ASSOCIATION OF UNIT OWNERS. The fallowing provisions apply if the Real Property has been submitted to unit ownership law or similar law
<br />for the establishment of Condominiums or cooperative ownership of the Real Property:
<br />Power of Attorney. Trustor grants an irrevocable power of attorney to Lender to vote in Lenders discretion on any matter that may come
<br />before the association of unit owners. Lender shall have the right to exercise this power of attorney only after Trustor's default; however,
<br />Lender may decline to exercise this power as Lender sees fit.
<br />Insurance. The insurance as required above may be carved by the association of unit owners on Trustor's behalf, and the proceeds of such
<br />insurance may be paid to the association of unit owners for the purpose of repairing or reconstructing the Property. If not so used by the
<br />association, such proceeds shall be paid to Lender.
<br />Default. Trustor's failure to perform any of the obligations imposed on Trustor by the declaration submitting the Real Property to unit
<br />ownership, by the bylaws of the association of unit owners, or by any rules or regulations thereunder, shall be an event of default under this
<br />Dead of Trust. If Trustor's interest in the Real Property is a leasehold interest and such property has been submitted to unit ownership, any
<br />failure by Trustor to perform any of the obligations imposed on Trustor by the lease of the Real Property from its owner, any default under
<br />such lease which might result in termination of the lease as it pertains to the Real Property, or any failure of Trustor as a member of an
<br />association of unit owners to take any reasonable action within Trustor's power to prevent a default under such lease by the association of
<br />unit owners or by any member of the associabon shall be an Event of Default under this Deed of Trust.
<br />MISCELLANEOUS PROVISIONS. The fallowing miscellaneous provisions are a pad of this Deed of Trust:
<br />Amendments. This Dead of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties
<br />as to the matters set forth in this Dead of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing
<br />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 Trustor's residence, Trustor shall furnish to Lender, upon request, a certified
<br />statement of net operating income received from the Property during Trustors previous fiscal year in such form and detail as Lender shall
<br />require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the
<br />operation of the Property.
<br />Caption Headings. Caption headings in this Deed of Trust are 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 shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at
<br />any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
<br />Governing Law. This Dead 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 agrees upon Lender's request to submit to the lunsdiction of the courts of HALL County, State
<br />of Nebraska.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in
<br />writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or
<br />any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise
<br />to demand strict compliance with that provision or any other provision of this Dead of Trust. No prior waiver by Lender, nor any course of
<br />dealing between Lender and Trustor, shall constitute a waiver of any of Lenders rights or of any of Trusters obligations as to any future
<br />transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instance
<br />shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be
<br />granted or withhold in the sole discretion of Lender.
<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any
<br />circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible,
<br />the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so
<br />modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability
<br />of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Deed of Trust shall be
<br />binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person
<br />other than Trustor, Lender, without notice to Trustor, may deal with Trustors successors with reference to this Deed of Trust and the
<br />Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of Trust Cr liability under the
<br />
|