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200605274
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Last modified
6/13/2006 4:15:09 PM
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6/13/2006 4:15:07 PM
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DEEDS
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200605274
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<br />200605274 <br /> <br />authorizing or supporting an action taken or proposed to be taken by Trustee hereunder, believed <br />by Trustee in good faith to be genuine. Trustee shall be entitled to reimbursement for actual <br />expenses incurred by Trustee in the performance of Trustee's duties hereunder and to reasonable <br />compensation for such of Trustee's services hereunder as shall be rendered. <br /> <br />Section 16.4 RETENTION OF MONEY. All moneys received by Trustee shall, until used <br />or applied as herein provided, be held in trust for the purposes for which they were received, but <br />need not be segregated in any manner from any other moneys (except to the extent required by <br />applicable law) and Trustee shall be under no liability for interest on any moneys received by <br />Trustee hereunder. <br /> <br />Section 16.5 PERFECTION OF APPOINTMENT. Should any deed, conveyance, or <br />instrument of any nature be required from Borrower by any Trustee or substitute trustee to more <br />fully and certainly vest in and confIrm to Trustee or substitute trustee such estates rights, powers, <br />and duties, then, upon request by Trustee or substitute trustee, any and all such deeds, <br />conveyances and instruments shall be made, executed, acknowledged, and delivered and shall be <br />caused to be recorded and/or filed by Borrower. <br /> <br />Section 16.6 SUCCESSION INSTRUMENTS. Any substitute trustee appointed pursuant to <br />any of the provisions hereof shall, without any further act, deed, or conveyance, become vested <br />with all the estates, properties, rights, powers, and trusts of its or his/her predecessor in the rights <br />hereunder with like effect as if originally named as Trustee herein; but nevertheless, upon the <br />written request of Lender or of the substitute trustee, Trustee ceasing to act shall execute and <br />deliver any instrument transferring to such substitute trustee, upon the trusts herein expressed, all <br />the estates, properties, rights, powers, and trusts of Trustee so ceasing to act, and shall duly <br />assign, transfer and deliver any of the property and moneys held by such Trustee to the substitute <br />trustee so appointed in Trustee's place. <br /> <br />Article 17 - NEBRASKA PROVISIONS <br /> <br />Section 17.1 INCONSISTENCIES. In the event of any inconsistencies between the terms <br />and conditions of the other articles and provisions of this Security Instrument and this Article 17, <br />the terms and conditions of Article 17 shall control and be binding. <br /> <br />Section 17.2 ASSIGNMENT OF LEASES AND RENTS. The beginning portion of Section 1.2 <br />stating "Borrower hereby absolutely and unconditionally assigns to Lender" is hereby deleted <br />and replaced with "Borrower hereby absolutely and unconditionally assigns to Lender and <br />Trustee, and grants to Lender and Trustee a security interest (pursuant to Section 52-1701 et. seq. <br />of the Revised Statutes of the State of Nebraska) in," <br /> <br />Section 17.3 RECONVEYANCE. The following text shall be inserted at the end of Article <br /> <br />1 : <br /> <br />"When the' obligations secured by this "'Security"Instrurtlerit have <br />been satisfied, the Lender'shall; upon. receipt of a writt~n request <br />by the Borrower or the Borrower:s . sllccessot. in interest or <br />designated representative or by the ,holderq(a juniorfi11st deed ot <br />junior mortgage, deliver. to the Borrower _ot Bottower's successor <br />in interest or designated representative . ' a reconveyance' ,in <br /> <br />19 <br /> <br />Nebraska <br />[TPW: NYLEGAL:505604.2] 20528-00030 05113/200602:00 PM <br />
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