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200600150 same upon unpaid interest, prin~ipal, taxes or insurance premiums or for maintenance and preservation at the premises. 1. Th.. waiver .by TRUSTEE oor BENEFICIARY of any default oof TRUSTOR under this Deed of !'rust, on one occasion, shall not be or be deemed to be a waiver of any other or similar defaults subs~quently ooccurring. J. It title to any part of the property herein "hall be taken in <::oondemnat:ion proceeding:>, by right of eminent domain, or similar action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to the BENEFICIARY, who shall apply such payment, or any part thereof, in her 601e discretion, to the sum due at that time all this Deed of Trust and Trust Deed Note, with any balallce above the amount due hereunder payable to the TRUSTOR. K. The BENEfICIARY, her agents or representatives, are hereby authori~ed to enter, at any reasonable time, upon any part of the trust property for the purposes oof inspecting the same and for the purpose of perfoorming any of the a~tB she is authorized to perform upder the terms c:>t this need of Trust and other accoT1lpanying do~uments. L. This Deed of Trust and all accompanying documents are subj ect to, constructed and governed by the laws of the State of Nebraska foor all purposes. M. In the event anyone or more of the provisions contained in this Deed of Trust, Trust Deed Note, or any other illstrum",nt given in ~onnection with this transaction, shall for any reason be held to be invalid, illegal or unenforceable ill any respect, su~h invalidity, illegality, oorunenforc",ability shall, at the optioon of the BENEFICIARY, not affe~t any other provisions of this Deed of Trust or Trust D",ed Note, but this Deed of Trust and Trust Deed Note shall be construed as if such invalid, illegal or unenforceable provision bad never been contained therein, it: being the intention of the p..rties that the provisioons of this Deed of Trust are declared to be severable. N. TRUSTOR hereby waives his right to designate the property subject to this Deed of Trust as a homestead under Neb. Rev. Stat. 940-101 (Reissue 1993). O. This Deed at Trust shall inure to ..nd bind the heirs, devisees, persoonal representatives, suooeSBors and assigns of the parties hereto, The TRUSTOR requests that a coopy of any Notice of Default and of any Nooti~e of Sale hereunder be mailed to him at the address herein set forth, or suoh other address as he may provide to the TRUSTEE and BENEFICIARY. TRUSTOR acknowledges that as TRUSTOR, he understands that the doocument he is executing herein is a Deed of Trust and not a mortgage, and that the power of sale provided for in this Deed of Trust provides eubstantially different rights and obligations than a mortgage and in an event at default or breach of the obligations set forth herein, tbe TRUSTEE and the BENEFICIARY may take such action as herein provided, including the exercise of the power of sale. EXECUTED the date first above written. ... ~ lilt;P9{ r Fr1es~ STATE OF NEERASKA ) l ss: COUNTY OF HALL I NOW ON THIS ~y Of~, 200..:2, personally appeared -4-