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200504312
<br />and agreements of Trustor shall be joint and several. The captions and headings of the
<br />paragraphs of this Deed of Trust are for convenience only and are not to be used to interpret or
<br />define the provisions hereof.
<br />7. GOVERNING LAW: SEVERABILITY. In the event that any provision or clause of this Deed of
<br />Trust or the Note or any other Loan Document conflicts with applicable law, such conflict shall
<br />not affect the other provisions of this Deed of Trust or the Note or any other Loan Document
<br />which can be given effect without the conflicting provision, and to this end the provisions of the
<br />Deed of Trust and the Note and the Loan Documents are declared to be severable. This Deed of
<br />Trust cannot be waived, changed, discharged or terminated orally, but only by an instrument in
<br />writing signed by all parties to this Deed of Trust. This Deed of Trust shall be governed by and
<br />construed in accordance with the laws of the State in which the Subject Property is located,
<br />except to the extent that Federal laws or the rules and regulations of the Office of Thrift
<br />Supervision preempt the laws of the State in which the Subject Property is located, in which case
<br />Beneficiary shall be entitled to such Federal rights and remedies without regard to conflicting
<br />limitation imposed by State law.
<br />TRUSTOR'S COPY. Trustor acknowledges receipt of a conformed and completed copy of the
<br />Note and of this Deed of Trust at the time of execution or after recordation hereof.
<br />9. NOTICE. Except for any notice required under applicable law or the other Loan Documents to be
<br />given in another manner, (i) any notice to Trustor provided for in this Deed of Trust shall be in
<br />writing to be effective and given by mailing such notice by first class U.S. mail, postage prepaid,
<br />to Trustor at 13747 "F" Street, Omaha, NE 68137, Attn: William. C. Peel, or at such other
<br />address as Trustor may designate by notice to Beneficiary as provided herein, and (ii) any such
<br />notice to Beneficiary shall be in writing to be effective and given by mailing such notice by first
<br />class U.S. mail, postage prepaid, to Beneficiary, at 1620 Dodge Street, Omaha NE 68197, Attn;
<br />Allen C. Hansen, Vice President, or to such other address as Beneficiary may designate by notice
<br />to Trustor as provided herein. Any such notice shall be effective upon deposit with U.S. mail.
<br />Any notice provided for in this Deed of Trust shall be deemed to have been given to Trustor or
<br />Beneficiary only when given in the manner designated herein.
<br />10. BENEFICIARY DEFINED. The word "Beneficiary" hereunder means the Beneficiary named herein
<br />or any future owner, including pledges, of any note, notes or instrument secured hereby.
<br />11. NO OFFSET. All sums comprising the indebtedness evidenced by the Note, this Deed of Trust or
<br />any other Loan Document payable by Trustor shall be paid without notice, demand, offset,
<br />deduction, counterclaim, defense, abatement, suspension, diminution or reduction. Trustor's
<br />obligation to do so shall not be released, discharged or otherwise diminished by reason of: (a)
<br />any damage to or destruction of, or any condemnation or similar taking of, the Subject Property
<br />or any portion thereof; (b) any restriction or prevention of, or interference with, the use of the
<br />Subject Property or any portion thereof; (c) any title defect or encumbrance, or any eviction from
<br />the Subject Property or any portion thereof by the holder of superior title or otherwise; (d) any
<br />bankruptcy, insolvency, reorganization, composition, dissolution, liquidation or similar
<br />proceeding relating to Trustor or Beneficiary, or any action taken with respect to this Deed of
<br />Trust by any trustee or receiver of Trustor or Beneficiary or by any court, in any such
<br />proceeding; (e) any claim that Trustor may now or in the future have against Beneficiary; (f) any
<br />default or failure on the part of the Beneficiary to perform or comply with any of the terms of
<br />this Deed of Trust or any other Loan Documents with Trustor; or (g) any other similar or
<br />dissimilar occurrence.
<br />12. NO MERGER. If the interests of Beneficiary and Trustor under this Deed of Trust shall at any
<br />time become vested in Beneficiary, by reason of foreclosure or otherwise, the lien of this Deed of
<br />Trust shall not be destroyed or terminated by application of the doctrine of merger and, in such
<br />event, Beneficiary shall continue to have and enjoy all of the rights and privileges of Beneficiary
<br />as to the separate estates, unless otherwise consented to in writing by Beneficiary.
<br />13. REQUEST FOR NOTICE. Trustor and Beneficiary hereby request that a copy of any notice of
<br />default and notice of sale made or executed by Trustee pursuant to the provisions hereof be sent
<br />to Trustor and Beneficiary at their respective mailing addresses set forth above.
<br />14. RESIDENTIAL LEAD -BASED PAINT HAZARD REDUCTION ACT. At its sole expense, Trustor shall
<br />cause the Subject Property to be and remain in compliance with all applicable provisions of the
<br />Residential Lead -Based Paint Hazard Reduction Act and all similar federal, state or local
<br />statutes, laws or ordinances, and any rules and regulations promulgated thereunder (jointly
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