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<br />200601498
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<br />(2) To the payment of the obligation secured by this Deed of Trust and Trust Deed
<br />Note;
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<br />(3) To the payment of junior Trust Deeds, mortgages, or other lienholders;
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<br />(4) The balance, if any, to the person or persons legally entitled thereto.
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<br />E. Upon the occurrence of any default hereunder, BENEFICIARIES shall have, in addition to
<br />such other options as may be granted herein, the further option to foreclose this Deed of
<br />Trust in the manner provided by law for foreclosures of mortgages on real property.
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<br />F. BENEFICIARIES may from time to time substitute a successor or successors to any
<br />TRUSTEE named herein or acting heretmder. Upon such appointment, and without
<br />conveyance to the successor TRUSTEE, the lattcr shall be vested with all title, powers, and
<br />duties conferred upon any TRUSTEE herein named or acting hereunder. Each such
<br />appointment and substitution shall be made by written instrument and executed by
<br />BENEFICIARIES, containing reference to this Dced of Trust and its place of record, which,
<br />when recorded in the 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 the successor
<br />TRUSTEE. The foregoing power of substitution and the procedure therefor shall not be
<br />exclusive of the power and procedure provided for by law for the substitution of a
<br />TRUSTEE in the place of the TRUSTEE named herein.
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<br />G. TRUSTORS covenant and agree that upon any attempted conveyance, assignment, pledge
<br />or transfer of any of his interest in the premises during the tem1 of the loan secured hereby,
<br />the BENEFICIARIES shall have the option of declaring the unpaid balance immediately
<br />due and payable, and if said sum remains unpaid for fiftcen (15) days thereafter,
<br />BENEFICIARIES can cause Notice of Default to be given and the premises be sold as
<br />provided herein.
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<br />H. As additional and collateral security for the loan, and effective forthwith upon filing of a
<br />Notice of Default, this instrument shall serve as an assignment by the TRUSTORS to the
<br />TRUSTEE, of all rents and revenues resulting from the property, and TRUSTEE is
<br />authorizcd to take possession of the property, rent or lease the same on terms he deems best
<br />and to collect the rents and revenues and apply the same upon unpaid interest, principal,
<br />taxes or insurance premiums or for maintenance and preservation of the premises.
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<br />I. The waiver by TRUSTEE or BENEFICIARIES of any default of TRUSTORS under this
<br />Deed of Trust, on one occasion, shall not be or be deemed to be a waiver of any other or
<br />similar defaults subsequently occurring.
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<br />J. If title to any part of the property herein shall be taken in condemnation proceedings, by
<br />right of eminent domain, or similar action, or shall be sold under threat of condemnation, all
<br />awards, danlages and proceeds are hereby assigned and shall be paid to the
<br />BENEFICIARIES, who shall apply such payment, or any part thereof: in their sole
<br />discretion, to the sum due at that time on this Dced of Trust and Trust Deed Note, with any
<br />balance above the amount due hereunder payable to the TRUSTORS.
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<br />K. The BENEFICIARIES, their agents or representatives, are hereby authorized to enter, at any
<br />reasonable time, upon any part of the trust property for the purposes of inspecting the same
<br />and for the purpose of performing any of the acts they are autllorized to perfonn under the
<br />tcrms of this Deed of Trust and other accompanying documents.
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<br />L. This Deed of Trust and all accompanying documents are subject to, constructed and
<br />governed by the laws of the State of Nebraska for all purposes.
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<br />M. In the event anyone or more of the provisions contained in this Deed of Trust, Trust Deed
<br />Notes, or any other instrumcnt given in connection with this transaction, shall for any reason
<br />be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or
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