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200316196
<br />D. when the TRUSTEE sells the trust property pursuant to the powers granted
<br />herein, the TRUSTEE shall apply the proceeds from the sale of such
<br />property in the following order of priority:
<br />(1) To the cost and expense of exercising the power of sale and of the
<br />sale, including attorney fees, evidence of title and other sale
<br />expenses, and a trustee's fee not to exceed two percent (2t) of the
<br />gross sale price;
<br />(2) To the payment of the obligation secured by this Deed of Trust and
<br />Trust Deed Note;
<br />(3) To the payment of junior Trust Deeds, mortgages, or other
<br />lienholders;
<br />(4) The balance, if any, to the person or persons legally entitled
<br />thereto.
<br />E. Upon the occurrence of any default hereunder, BENEFICIARY shall have, in
<br />addition to such other options as may be granted herein, the further
<br />option to foreclose this Deed of Trust in the manner provided by law for
<br />foreclosures of mortgages on real property.
<br />F. BENEFICIARY may from time to time substitute a successor or successors to
<br />any TRUSTEE named herein or acting hereunder. Upon such appointment, and
<br />without conveyance to the successor TRUSTEE, the latter shall be vested
<br />with all title, powers, and duties conferred upon any TRUSTEE herein named
<br />or acting hereunder. Each such appointment and substitution shall be made
<br />by written instrument and executed by BENEFICIARY, containing reference to
<br />this Deed of Trust and its place of record, which, when recorded in the
<br />office of the Register of Deeds of the county or counties in which said
<br />property is situated, shall be conclusive proof of proper appointment of
<br />the successor TRUSTEE. The foregoing power of substitution and the
<br />procedure therefor shall not be exclusive of the power and procedure
<br />provided for by law for the substitution of a TRUSTEE in the place of the
<br />TRUSTEE named herein.
<br />G. TRUSTORS covenant and agree that upon any attempted conveyance,
<br />assignment, pledge or transfer of any of their interest in the premises
<br />during the term of the loan secured hereby, the BENEFICIARY shall have the
<br />option of declaring the unpaid balance immediately due and payable, and if
<br />said sum remains unpaid for ten (10) days thereafter, BENEFICIARY can
<br />cause Notice of Default to be given and the premises be sold as provided
<br />herein.
<br />H. As additional and collateral security for the loan, and effective
<br />forthwith upon filing of a Notice of Default, this instrument shall serve
<br />as an assignment by the TRUSTORS to the TRUSTEE, of all rents and revenues
<br />resulting from the property, and TRUSTEE is authorized to take possession
<br />of the property, rent or lease the same on terms he deems best and to
<br />collect the rents and revenues and apply the same upon unpaid interest,
<br />principal, taxes or insurance premiums or for maintenance and preservation
<br />of the premises.
<br />I. The waiver by TRUSTEE or BENEFICIARY of any default of TRUSTORS under this
<br />Deed of Trust, on one occasion, shall not be or be deemed to be a waiver
<br />of any other or similar defaults subsequently occurring.
<br />J. If title to any part of the property herein shall be taken in condemnation
<br />proceedings, by right of eminent domain, or similar action, or shall be
<br />sold under threat of condemnation, all awards, damages and proceeds are
<br />hereby assigned and shall be paid to the BENEFICIARY, who shall apply such
<br />payment, or any part thereof, in her sole discretion, to the sum due at
<br />that time on this Deed of Trust and Trust Deed Note, with any balance
<br />above the amount due hereunder payable to the TRUSTORS.
<br />K. The BENEFICIARY, her agents or representatives, are hereby authorized to
<br />enter, at any reasonable time, upon any part of the trust property for the
<br />purposes of inspecting the same and for the purpose of performing any of
<br />the acts she is authorized to perform under the terms of this Deed of
<br />Trust and other accompanying documents. BENEFICIARY shall give TRUSTORS
<br />twenty -four (24) hour notice of any inspection.
<br />L. This Deed of Trust and all accompanying documents are subject to,
<br />constructed and governed by the laws of the State of Nebraska for all
<br />purposes.
<br />M. In the event any one or more of the provisions contained in this Deed of
<br />Trust, Trust Deed Note, or any other instrument given in connection with
<br />this transaction, shall for any reason be held to be invalid, illegal or
<br />unenforceable in any respect, such invalidity, illegality, or unenforce-
<br />ability shall, at the option of the BENEFICIARY, not affect any other
<br />provisions of this Deed of Trust or Trust Deed Note, but this Deed of
<br />Trust and Trust Deed Note shall be construed as if such invalid, illegal
<br />or unenforceable provision had never been contained therein, it being the
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