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<br />Loan No: 3370455
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<br />MORTGAGE
<br />(Continued)
<br />
<br />200800171
<br />
<br />Page 6
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<br />affect Lender's right to declare a default and exercise its remedies. Nothing under this Mortgage or otherwise shall be construed so
<br />as to limit or restrict the rights and remedies available to Lender following an Event of Default. or in any way to limit or restrict the
<br />rights and ability of Lender to proceed directly against Grantor and/or against any other co-maker, guarantor, surety or endorser and/or
<br />to proceed against any other collateral directly or indirectly securing the Indebtedness.
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<br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Mortgage, Lender shall be
<br />entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any
<br />court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are
<br />necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable
<br />on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph
<br />include, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses,
<br />whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or
<br />vacate any automatic stay or injunction). appeals, and any anticipated post-judgment collection services, the cost of searching
<br />records, obtaining title reports (including foreclosure reports). surveyors' reports, and appraisal fees and title insurance, to the extent
<br />permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law.
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<br />NOTICES. Any notice required to be given under this Mortgage, including without limitation any notice of default and any notice of sale
<br />shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required
<br />by law). when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first
<br />class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Mortgage. All copies of
<br />notices of foreclosure from the holder of any lien which has priority over this Mortgage shall be sent to Lender's address, as shown near
<br />the beginning of this Mortgage. Any party may change its address for notices under this Mortgage by giving formal written notice to the
<br />other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Grantor agrees to keep
<br />Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor,
<br />any notice given by Lender to any Grantor is deemed to be notice given to all Grantors.
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<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Mortgage:
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<br />Amendments. This Mortgage, together with any Related Documents, constitutes the entire understanding and agreement of the
<br />parties as to the matters set forth in this Mortgage. No alteration of or amendment to this Mortgage shall be effective unless given in
<br />writing and signed by the party or parties sought to be charged or bound by the alteration or amendment.
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<br />Annual Reports. If the Property is used for purposes other than Grantor's residence, Grantor shall furnish to Lender, upon request. a
<br />certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as
<br />Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in
<br />connection with the operation of the Property.
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<br />Caption Headings. Caption headings in this Mortgage are for convenience purposes only and are not to be used to interpret or define
<br />the provisions of this Mortgage.
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<br />Governing Law. With respect to procedural matters related to the perfection and enforcement of Lender's rights against the Property,
<br />this Mortgage will be governed by federal law applicable to Lender and to the extent not preempted by federal law, the laws of the
<br />State of Nebraska. In all other respects, this Mortgage will be governed by federal law applicable to Lender and, to the extent not
<br />preempted by federal law, the laws of the State of North Dakota without regard to its conflicts of law provisions. However, if there
<br />ever is a question about whether any provision of this Mortgage is valid or enforceable, the provision that is questioned will be
<br />governed by whichever state or federal law would find the provision to be valid and enforceable. The loan transaction that is
<br />evidenced by the Note and this Mortgage has been applied for, considered, approved and made, and all necessary loan documents
<br />have been accepted by Lender in the State of North Dakota.
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<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Mortgage unless such waiver is given in
<br />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
<br />right or any other right. A waiver by Lender of a provision of this Mortgage shall not prejudice or constitute a waiver of Lender's right
<br />otherwise to demand strict compliance with that provision or any other provision of this Mortgage. No prior waiver by Lender, nor any
<br />course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as
<br />to any future transactions. Whenever the consent of Lender is required under this Mortgage, the granting of such consent by Lender
<br />in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such
<br />consent may be granted or withheld in the sole discretion of Lender.
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<br />Severability. If a court of competent jurisdiction finds any provision of this Mortgage to be illegal, invalid, or unenforceable as to any
<br />circumstance, that finding shall not make the offending provision illegal. invalid, or unenforceable as to any other circumstance. If
<br />feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending
<br />provision cannot be so modified, it shall be considered deleted from this Mortgage. Unless otherwise required by law, the illegality,
<br />invalidity, or unenforceability of any provision of this Mortgage shall not affect the legality, validity or enforceability of any other
<br />provision of this Mortgage.
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<br />Merger. There shall be no merger of the interest or estate created by this Mortgage with any other interest or estate in the Property
<br />at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
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<br />Successors and Assigns. Subject to any limitations stated in this Mortgage on transfer of Grantor's interest, this Mortgage shall be
<br />binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a
<br />person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and
<br />the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Mortgage or liability under
<br />the Indebtedness.
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<br />Time is of the Essence. Time is of the essence in the performance of this Mortgage.
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<br />Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the
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