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<br />200609624
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<br />by Borrower hereunder. The procurement of insurance or the payment of taxes or other liens or charges
<br />by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured
<br />by this Security Instrument in the event of Borrower's default hereunder.
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<br />17. REMEDIES CUMULATIVE. All remedies provided in this Security Instrument are
<br />distinct and cumulative to any other right or remedy under this Security Instrument or afforded by law or
<br />equity, and may be exercised concurrently, independently or successively.
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<br />18. ASSIGNMENT: SUCCESSORS AND ASSIGNS BOUND: JOINT AND SEVERAL
<br />LIABILITY: CAPTIONS. Lender may assign its rights and obligations hereunder by notice to
<br />Borrower. Borrower may not assign its rights or obligations hereunder, whether by contract or operation
<br />of law, without the prior written consent of Lender, which may be withheld in Lender's sole discretion.
<br />The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the
<br />respective successors and permitted assigns of Lender and Borrower. All covenants and agreements of
<br />Borrower shall be joint and several. The captions and headings of the paragraphs of this Security
<br />Instrument are for convenience only and are not to be used to interpret or define the provisions hereof.
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<br />19. NOTICE. Except for any notice required under applicable law to be given in another
<br />manner, (i) any notice to Borrower provided for in this Security Instrument shall be in writing to be
<br />effective and given by mailing such notice by first class U.S. mail, postage prepaid, to Borrower c/o
<br />Raymond J. O'Connor, PO Box 139, Grand Island, Nebraska 68802, or at such other address as Borrower
<br />may designate by notice to Lender as provided herein, and (ii) any such notice to Lender shall be in
<br />writing to be effective and given by mailing such notice by first class U.S. mail, postage prepaid, to
<br />Lender c/o Credit Administration Department, 1235 "N" Street, Lincoln, Nebraska 68508, or to such
<br />other address as Lender may designate by notice to Borrower as provided herein. Any such notice shall
<br />be effective upon deposit with U.S. mail. Any notice provided for in this Security Instrument shall be
<br />deemed to have been given to Borrower or Lender only when given in the manner designated herein.
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<br />20. UNIFORM SECURITY INSTRUMENT: GOVERNING LAW: SEVERABILITY.
<br />This form of Security Instrument combines uniform covenants for national use and non~uniform
<br />covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real
<br />property. In the event that any provision or clause of this Security Instrument or the Note or any other
<br />Loan Document conflicts with applicable law, such conflict shall not affect the other provisions of this
<br />Security Instrument or the Note or any other Loan Document which can be given effect without the
<br />conflicting provision, and to this end the provisions of the Security Instrument and the Note and the Loan
<br />Documents are declared to be severable. This Security Instrument cannot be waived, changed,
<br />discharged or terminated orally, but only by an instrument in writing signed by the party against whom
<br />enforcement of any waiver, change, discharge or termination is sought. This Security Instrument shall be
<br />governed by and construed in accordance with the Laws of the State in which the Property is located,
<br />except to the extent that Federal laws or the rules and regulations of the Office of Thrift Supervision, or
<br />its successor, preempt the laws of the State in which the Property is located, in which case Lender shall
<br />be entitled to such Federal rights and remedies without regard to conflicting limitation imposed by State
<br />law.
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<br />21. BORROWER'S COPY. Borrower acknowledges receipt of a conformed and completed
<br />copy of the Note and of this Security Instrument at the time of execution or after recordation hereof.
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<br />22. TRANSFER OF THE PROPERTY: ASSUMPTION. If the Borrower or any successor in
<br />interest to Borrower or the Property described in this Security Instrument should, without the prior
<br />written consent of the Lender, assign the Note or sell, convey, transfer, or alienate the Property, or any
<br />part thereof, or any interest therein, or be divested of its title or any interest therein in any manner,
<br />whether voluntary or involuntary, by contractual arrangement or operation of law, or if the Borrower or
<br />any successor in interest to Borrower or the Property is a corporation, partnership, limited liability
<br />company, or joint venture, and more than fifty percent (50%) of the equity ownership of such
<br />corporation, partnership, limited liability company, or joint venture is, without the prior written consent
<br />of Lender, sold, conveyed, transferred or alienated, either voluntarily or involuntarily, by contractual
<br />arrangement or operation of law, then the Lender shall have the right at its sole option to declare any and
<br />all indebtedness due hereunder, or any other obligation secured by this Security Instrument, immediately
<br />due and payable.
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<br />Not less than thirty (30) days prior to any such sale or other transfer, Borrower shall notify
<br />Lender in writing of the proposed sale or transfer and shall provide Lender with such information
<br />concerning the terms and conditions of the sale or transfer and the creditworthiness and financial
<br />condition of the proposed purchaser or transferee as Lender may require. Lender may withhold its
<br />consent to any such sale or other transfer in Lender's sole discretion.
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