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200701609 forthwith upon filing of a Notice of Default, this instrument shall serve as an assignment by the TRUSTOR to the TRUSTEE, of all rents and revenues resulting from the property, and TRUSTEE is authorized to take possession of the property, rent or lease tile same on terms he deems best and to collect the rents and revenues and apply the same upon unpaid interest, principal, taxes or insurance premiums or for maintenance and preservation of the premises. I. The waiver by TRUSTEE or BENEFICIARIE::3 of any default of TRU~3TOR under this Deed 0 E Trust, on one occasion, shall not be or be deemed to be a waiver of any other or similar defaults subsequently occurring. J. If title to any part of the property herein shal.l be taken in condemnation proceedings, 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 BENEFICIARIES, who shall apply such payment, or any part thereof, in their sole discretion, to the sum due at that time on this Deed of Trust and Trust Deed Note, with any balance above tile amount due hereunder payable to the TRUSTOR. K. The BENEFICIARIES, their agents or representatives, are hereby authorized to enter, at any reasonable time, upon any part of the trust property for the purposes of inspecting the same and for the purpose of performing any of the acts they are authorized to perform under the terms of this Deed of Trust and other accompanying documents. L. This Deed of Trust and all accompanying documents are subject to, constructed and governed by the laws of the State of Nebraska for all purposes. M. In the event anyone or more of the provisions contained in this Deed of Trust, Trust Deed Note, or any other instrument given in connection wi th this transaction, shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall, at the option of the RENEFICIARIES, not affect any other provisions of this Deed of Trust or Trust Deed Note, but this Deed of Trust~ and Trust Deed Note shall be construed as if such invalid, i.11egal Ot~ unenforceable provision had never been contained therein, it being the intention of the parties that the provisions 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. 140-101 (Reissue 1993). O. This Deed of Trust shall personal representatives, hereto. inure to and bind the heirs, devisees, successors and assigns of the parties The TRUSTOR requests that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to him at the address herein set forth, or such other address as he may provide to the TRUSTEE and BENEFICIARIES. TRUSTOR acknowledges that as TRUSTOR, he understands that the document he is cxecutimJ herein is a Deed of Trust and not a mortgage, and that the power of sale provided for in this Deed of Trust provides substantially different rights and obl.Lgal_lons than a mortgage and ln an event of default or breach of the obl iqa bans set forth herein, the TRUSTEE and the BENEFICIARIES may take such action as herein provided, including the exercise of the power of sale. EXECUTED the date first above written. fJr V'1 Ct cJh__ ~; {' 2> ARMANDO PEREZ -4-