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'/ e e 200800038 (c) The remainder, if any, to the person or persons legally entitled thereto. 6. OPTIONAL REMEDY. Upon the occurrence of any default hereunder, Beneficiary shall have the option to foreclose this trust deed in the manner provided by law for the foreclosure of mortgages on real property. 7. SUCCESSOR TRUSTEE. Beneficiary may from time to time substitute a successor or successors to any Trustee named herein or acting hereunder. Upon such appointment, and without conveyance to the successor Trustee, the latter shall be vested with all title, powers and duties conferred upon any Trustee herein named or acting hereunder. Each such appointment and substitution shall be made by written instrument and executed by Beneficiary, containing reference to this trust deed and its place of record, which, when recorded in the office of the Register of Deeds of the county or counties in which said property is located, shall be conclusive proof of proper appointment of the successor Trustee. The foregoing power of substitution and the procedure therefor shall not be exclusive of the power and procedure provided for by law for the substitution of a Trustee in the place of the Trustee named herein. 8. ASSIGNMENT OF RENTS. As additional and collateral security for the loan and effective forthwith upon filing of a Notice of Default, this instrument shall serve as an assigmnent by the Trustor to the Trustee, of all rents, issues, profits, and revenues resulting from the property and Trustee is authorized to take possession of the property, rent or lease the 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 Property. 9 . WAIVER. The waiver by Trustee or Beneficiary of any default of Trustor under this trust deed shall not be deemed to be a waiver of any other or similar defaults subsequently occurring. 10. TRUSTOR. The designation "Trustor" herein shall extend to and apply to the undersigned, singular and plural, and the covenants and agreements ofthe Trustor herein shall be binding upon its heirs, devisees, personal representatives, successors and assigns. 11. GOVERNING LAW. This Trust Deed shall be construed according to the laws of the State of Nebraska, and the Trustee and the Beneficiary shall have all of the benefits and rights made available by the Nebraska Trust Deeds Act as the same now exist as well as any additional rights which may be created in them under any amendments thereto. 12. ACCELERATION. Trustor covenants and agrees that upon any conveyance, assigmnent or transfer of his interest in the Property during the term of the loan secured hereby, the Beneficiary shall have the option of declaring the unpaid balance immediately due and payable, and if said sum remains unpaid for thirty (30) days thereafter, Beneficiary can cause Notice of Default to be given and the Property be sold as provided herein. 13. TRUSTEE LIABILITY. It is agreed that neither the trustee nor any successor will have any liability for any action taken in the exercise of his discretion, including, without limitation, sale en masse or in separate parcels, any action taken on advice of counsel or any action taken based on trustee's reasonable belief as to the existence of relevant facts, including the fact of default or breach of covenant in the part of the landowner. 14. SEVERABILITY. If any provisions of this Trust Deed shall be held invalid, the validity of the remainder of this Trust Deed shall not be affected and the remaining provisions herein shall be construed as if the invalid provision was never included. 15. BINDING EFFECT. This Trust Deed applies to and inures to the benefit of and binds all parties hereto, their heirs, devisees, personal representatives, successors, and assigns. The term "Beneficiary" shall mean the owner and holder of the Note, whether or not named as a Beneficiary herein. 16. NOTICE. 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 hereinbefore set forth. ~(l?