200706816 - Laserfiche WebLink

Browse

Loan No: 601/2952 DEED OF TRUST (Continued) 200706816 Page 7 Trustor, the book and page (or computer system reference) where this Deed of Trust Is recorded, and the name and address of the successor trustee, and the Instrument shall be executed and acknowledged by all the beneficiaries under this Deed of Trust or their successors In Interest. The successor trustee, without conveyance of the Property, shall succeed to all the title, power, and duties conferred upon the Trustee In this Deed of Trust and by applicable law. This procedure for substitution of Trustee shall govern to the exclusion of all other provisions for substitution. NOTICES. Any notice required to be given under this Deed of Trust, Including without limitation any notice of default and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefacslmlle (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, If mailed, when deposited In the United States mall, as first class, certified or registered mall postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning of this Deed of Trust. Any party may change Its address for notices under this Deed of Trust by giving formal written notice to the other parties, specifying that the purpose of the notice Is to change the party's address. For notice purposes, Trustor agrees to keep Lender informed at all times of Trustor's current address. Unless otherwise provided or required by law, if there is more than one Trustor, any notice given by Lender to any Trustor is deemed to be notice given to all Trustors. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust: Amendments. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. Annual Reports. If the Property is used for purposes other than Trustor's residence, Trustor shall furnish to Lender, upon request, a certified statement of net operating income received from the Property during Trustor's previous fiscal year in such form and detail as Lender shall require. "Net operating Income" shall mean all cash receipts from the Property less all cash expenditures made In connection with the operation of the Property. Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to Interpret or define the provisions of this Deed of Trust. Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other Interest or estate in the Property at any time held by or for the benefit of Lender In any capacity, without the written consent of Lender. Governing Law. With respect to procedural matters related to the perfection and enforcement of lender's rights against the Property, this Deed of Trust will be governed by federal law applicable to lender and to the extent not preempted by federal law, the laws of the State of Nebraska. In all other respects, this Deed of Trust will be governed by federal law applicable to lender and, to the extent not preempted by federal law, the laws of the State of Illinois without regard to Its conflicts of law provisions. However, If there ever Is a question about whether any provision of this Deed of Trust Is valid or enforceable, the provision that Is questioned will be governed by whichever state or federal law would find the provision to be valid and enforceable. The loan transaction that Is evidenced by the Note and this Deed of Trust has been applied for, considered, approved and made, and all necessary loan documents have been accepted by lender In the State of illinois. Choice of Venue. If there Is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of Peoria County, State of illinois. No Waiver by lender. lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given In writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by lender, nor any course of dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender In any instance shall not constitute continuing consent to subsequent Instances where such consent is required and In all cases such consent may be granted or withheld In the sole discretion of lender. Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, It shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or un enforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Trustor, lender, without notice to Trustor, may deal with Trustor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness. Time Is of the Essence. Time is of the essence in the performance of this Deed of Trust. Waive Jury. All parties to this Deed of Trust hereby waive the right to any Jury trial In any action, proceeding, or counterclaim brought by any party against any other party. Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of Nebraska as to all Indebtedness secured by this Deed of Trust. DEFINITlONS. The following capitalized words and terms shall have the following meanings when used In this Deed of Trust. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shall Include the singular, as the context may require. Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms In the Uniform Commercial Code: