|
11111111111111111111111111111 200316390
<br />DEED OF TRUST
<br />(Continued)
<br />court in which such proceeding was commenced in accordance with Utah Rule of Civil Procedure 53(e).
<br />Page 10
<br />FUTURE ADVANCES. Upon request of Trustor, Beneficiary, at Beneficiary's option, prior to full reconveyance of the Real Property by
<br />Trustee to Trustor, may make future advances to Trustor. Such future advances, with interest thereon, shall be secured by this Deed of
<br />Trust. At no time shall the principal amount of the Indebtedness secured by this Deed of Trust, not including sums advanced to protect the
<br />security, exceed the sum of the original principal amount of the Note, which is stated within the definition of the Note herein. Advances of
<br />disbursements made by Beneficiary to protect the security, under the terms hereof, while discretionary shall not be deemed to be optional
<br />advances.
<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, constitutes 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 Deed 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 Trustor's residence, Trustor shall furnish to Lender, upon request, a
<br />certified statement of net operating income received from 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 purposes 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 merger of the interest or estate created by this Deed of Trust with any other interest or estate in the
<br />Property at any time held 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 />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 Trustor shall mean each and every Trustor, and all references to Borrower shall mean each and every Borrower. This
<br />means that each Borrower and Trustor signing below is responsible 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 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
<br />right or 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
<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 course of dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights or 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 consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is
<br />required and in all cases such consent may be granted or withheld 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
<br />any person or circumstance, 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 and 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 unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or
<br />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
<br />shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes
<br />vested in a person other than Trustor, Lender, without notice to Trustor, may deal with Trustor's successors with reference to this
<br />Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of
<br />Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless
<br />specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America.
<br />Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Wells Fargo Bank, National Association, and its successors and assigns.
<br />Borrower. The word "Borrower" means Christopher R. Waters, D.D.S., P.C. and includes all co- signers and co- makers signing the
<br />Note.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without
<br />limitation all assignment and security interest provisions relating to the Personal Property and Rents.
<br />
|