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87- 10740A r 17. Waiver of Statute of Limitations. Time is of the essence in all of Trustor's obligations and duties hereunder; and to the extent permitted by law, Trustor waives all present or future statutes of limitations with respect to any debt, demand or obligation secured hereby and any act ion or proceeding for the purpose of enforcing this Deed of Trust or any rights or remedies contained herein. 18. Assignment of Deposits. In the event construction of improve- ments is contemplated by the loan evidenced by the Note secured hereby, as addi tional security there fore, Trustor hereby trans- fers and assigns to Beneficiary, all right, title and interest to any and all monies deposited by or on behalf of Trustor with any city, county, public body or agency, sanitary district, utility company, and any other body or agency, for the installation or to secure the installation of any utility by Trustor, pertaining to the Trust Property. 19. Corporation or Partnership Existence. If Trustor is a corpora- tion, general partnership, or limIted partnership, it will do all things necessary to preserve its corporate or partnership exis- tence, as the case may be, and all rights and privileges under the laws of the state of its incorporation or organization. 20. Forbearance by Beneficiary Not a Waiver. Any forbearance by Beneficiary in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procure- ment of insurance or the payment of taxes or the discharge of liens or charges by Beneficiary shall not be a waiver of Benefi- ciary's right to accelerate the maturity of the Indebtedness. 21. Remedies Cumulative. All remedies provided in this Deed or Trust are distinct and cumulative to any other right or remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or successively. 22. Successors and Assi n Bound; Joint and Several Liability; Cap- t10ns. T e covenants an agreements hereln contained shall bind, and the rights hereunder shall inure to, the respective succes- sors and assigns of Beneficiary, Trustee, and Trustor. All covenants and agreements of Trustor shall be joint and several. The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof. 23. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Trustor provided for in this Deed of Trust shall be given by mailing such notice by certified mail, return receipt requested addressed to Trustor at its mailing address set forth above or at such other address as Trustor may designate by not ice to Bene ficiary as provided herein, and (b) any notice to Beneficiary or Trustee shall be given by certified mail, return receipt requested, to Benefi- ciary's and Trustee's mailing address stated herein or to such other address as Beneficiary or Trustee may designate by notice to Trustor as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to Trustor, Beneficiary or Trustee when given in the manner designated here- in. L 24. Governing Law; Severability. This Deed of Trust shall be governed by t he laws of the State of Nebraska. In t he event any provision or clause of this Deed of Trust conflicts with applic- able law, such conflict shall not affect other provisions of this Deed of Trust which can be given effect without the conflicting provisions and to this end the provisions of this Deed of Trust are declared to be severable. -7- :""~.'..-'.....'I'.....'..'-."'" -~ ~~~ l1iJi "f,~ l'i~ .~.t'~;~ '~{n '-.-.-1