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200600614
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1/24/2006 8:20:24 AM
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1/24/2006 8:20:22 AM
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DEEDS
Inst Number
200600614
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<br />200600614 <br /> <br />interest, arbitration fees and costs in which case the arbitration shall be conducted in accordance <br />with the AAA's optional procedures for large, complex commercial disputes (the commercial <br />dispute resolution procedures or the optional procedures for large, complex commercial disputes <br />to be referred to, as applicable, as the "Rules"). If there is any inconsistency between the terms <br />hereof and the Rules, the terms and procedures set forth herein shall control. Any party who fails <br />or refuses to submit to arbitration following a demand by any other party shall bear all costs and <br />expenses incurred by such other party in compelling arbitration of any dispute. Nothing contained <br />herein shall be deemed to be a waiver by any party that is a bank of the protections afforded to it <br />under 12 U.S.C. Section 91 or any similar applicable state law. <br />c) No Waiver of Provisional Remedies. Self-Help and Foreclosure. The arbitration requirement does <br />not limit the right of any party to (i) foreclose against real or personal property collateral; (H) <br />exercise self-help remedies relating to collateral or proceeds of collateral such as setoff or <br />repossession; or (Hi) obtain provisional or ancillary remedies such as replevin, injunctive relief, <br />attachment or the appointment of a receiver, before during or after the pendency of any arbitration <br />proceeding. This exclusion does not constitute a waiver of the right or obligation of any party to <br />submit any dispute to arbitration or reference hereunder, including those arising from the exercise <br />of the actions detailed in sections 0), (H) and (iii) of this paragraph. <br />d) Arbitrator Qualifications and Powers. Any arbitration proceeding in which the amount in <br />controversy is $5,000,000.00 or less will be decided by a single arbitrator selected according to <br />the Rules, and who shall not render an award of greater than $5,000,000.00. Any dispute in which <br />the amount in controversy exceeds $5,000,000.00 shall be decided by majority vote of a panel of <br />three arbitrators; provided however, that all three arbitrators must actively participate in all <br />hearings and deliberations. The arbitrator will be a neutral attorney licensed in the State of <br />Nebraska or a neutral retired judge of the state or federal judiciary of Nebraska, in either case with <br />a minimum of ten years experience in the substantive law applicable to the subject matter of the <br />dispute to be arbitrated. The arbitrator will determine whether or not an issue is arbitratable and <br />will give effect to the statutes of limitation in determining any claim. In any arbitration proceeding <br />the arbitrator will decide (by documents only or with a hearing at the arbitrator's discretion) any <br />pre-hearing motions which are similar to motions to dismiss for failure to state a claim or motions <br />for summary adjudication. The arbitrator shall resolve all disputes in accordance with the <br />substantive law of Nebraska and may grant any remedy or relief that a court of such state could <br />order or grant within the scope hereof and such ancillary relief as is necessary to make effective <br />any award. The arbitrator shall also have the power to award recovery of all costs and fees, to <br />impose sanctions and to take such other action as the arbitrator deems necessary to the same <br />extent a judge could pursuant to the Federal Rules of Civil Procedure, the Nebraska Rules of Civil <br />Procedure or other applicable law. Judgment upon the award rendered by the arbitrator may be <br />entered in any court having jurisdiction. The institution and maintenance of an action for judicial <br />relief or pursuit of a provisional or ancillary remedy shall not constitute a waiver of the right of any <br />party, including the plaintiff, to submit the controversy or claim to arbitration if any other party <br />contests such action for judicial relief. <br />e) Discovery. In any arbitration proceeding discovery will be permitted in accordance with the Rules. <br />All discovery shall be expressly limited to matters directly relevant to the dispute being arbitrated <br />and must be completed no later than 20 days before the hearing date and within 180 days of the <br />filing of the dispute with the AAA. Any requests for an extension of the discovery periods, or any <br />discovery disputes, will be subject to final determination by the arbitrator upon a showing that the <br />request for discovery is essential for the party's presentation and that no alternative means for <br />obtaining information is available. <br />f) Class Proceedings and Consolidations. The resolution of any dispute arising pursuant to the <br />terms of this Deed of Trust shall be determined by a separate arbitration proceeding and such <br />dispute shall not be consolidated with other disputes or included in any class proceeding. <br />
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