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200313229
<br />its address for such notices by delivering or mailing to the other parties hereto, as aforesaid, a notice
<br />of such change. All notices permitted or required to be sent in this Trust shall be sent as follows:
<br />If to Trustor: Walnut Housing, Ltd.
<br />5631 South 48th, Suite 220
<br />Lincoln, NE 68516
<br />Attn: Ward F. Hoppe
<br />If to Trustee Lincoln Federal Savings Bank
<br />and /or Beneficiary: 1101 N Street
<br />Lincoln NE 68508
<br />Attn: Leo J. Schumacher
<br />20. Inspections. Beneficiary may enter upon and make or cause to be made inspections
<br />of the Trust Estate, provided Beneficiary shall give Trustor reasonable notice prior to any such
<br />inspection specifying cause therefor reasonably related to Beneficiary's interest in the Trust Estate.
<br />21. Reconveyance by Trustee. This Trust Deed shall continue in full force and effect
<br />from the date hereof until the Trust Estate is reconveyed as provided herein (the "Term "). Upon
<br />written request of Beneficiary stating that all Obligations have been paid, and upon surrender of
<br />this Trust Deed, the Note, and any other Loan Documents to Beneficiary for cancellation and
<br />retention, Trustee shall reconvey to Trustor, or the person or persons legally entitled thereto, without
<br />warranty, any portion of the Trust Estate then held hereunder in the manner provided by the Act.
<br />The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness
<br />thereof. The grantee in any such reconveyance may be described as "the person or persons legally
<br />entitled thereto ". Such person or persons shall pay any recordation costs.
<br />22. Governing Law; Waivers; Amendments. This Trust Deed shall be governed by,
<br />and construed in accordance with, the laws of the State of Nebraska, except to the extent federal
<br />laws preempt the laws of the State of Nebraska and except where the Trust Estate is located in other
<br />states and the foreclosure laws of such states are applicable (the "Governing Law ") . This instrument
<br />can be waived, changed, discharged, or terminated only by an instrument in writing signed by the
<br />party against whom enforcement of any such waiver, change, discharge, or termination is sought.
<br />23. Severability. In the event any one or more of the provisions contained in this Trust
<br />Deed shall be for any reason held to be invalid, illegal, or unenforceable under Governing Law by
<br />a court of competent jurisdiction, such invalidity, illegality, or unenforceability shall, at the option
<br />of Beneficiary, not affect any other provision of this Trust Deed, but this Trust Deed shall be
<br />construed as if such invalid, illegal, or unenforceable provision had never been contained herein
<br />or therein. If the lien of this Trust Deed is invalid or unenforceable as to any part of the Obligations
<br />or the Trust Estate, all payments made on the Obligations, whether voluntary or under foreclosure
<br />or other enforcement action or procedure, shall be applied first to the full payment of that portion
<br />of the Obligations which is not secured or not fully secured by the lien of this Trust Deed.
<br />24. Number and Gender. Whenever used herein, the singular number shall include
<br />the plural, and the use of any gender shall be applicable to all genders.
<br />25. Acceptance by Trustee. Trustee accepts this trust when this Trust Deed, duly
<br />executed and acknowledged, is made a public record as provided by Governing Law.
<br />26. Security Agreement. This Trust Deed shall constitute a security agreement pursuant
<br />to the Nebraska Uniform Commercial Code for all personal property owned by Trustor found on
<br />or constituting a part of the Trust Estate which, under applicable law, may be subjected to a security
<br />interest pursuant to the Uniform Commercial Code, and Trustor hereby grants Beneficiary a security
<br />interest in such items. Trustor shall execute and deliver to Beneficiary, upon Beneficiary's request,
<br />any financing statements and continuation statements as Beneficiary may require to perfect a
<br />security interest with respect to such items. Trustor shall pay all costs of filing such financing and
<br />continuation statements and releases thereof. Without the prior written consent of such Beneficiary,
<br />Trustor shall not create or suffer to be created any other security interest in such item, including
<br />replacements and additions thereto. Upon the occurrence of an Event of Default, Beneficiary shall
<br />have the remedies of a secured party under the Uniform Commercial Code. In exercising such
<br />remedies, Beneficiary may proceed against the real property and personal property described herein
<br />separately or together and in any order whatsoever, without in any way affecting the availability of
<br />Beneficiary's remedies under the Uniform Commercial Code or herein.
<br />IN WITNESS WHEREOF, Trustor has executed this Trust Deed as of the date and year
<br />first above written.
<br />L0553199.1 -10-
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