|
., 100344
<br />(c) After paying the items specified in subparagraph (b), if the sale is by Trustee, or the proper court and other costs of forectosurel and sale if
<br />the sale Is pursuant to judicial foreclosure, the proceeds of sale shall be applied in the order stated below to the payment of:
<br />(1) Coat of an evidence of title procured in connection with such sale and of any revenue required to be paid;
<br />(2) Attorneys feces;
<br />All SUMS than secured hereby and any liens having priority over this one;
<br />(4) Junior trust deeds, mortgages, or other lienhoiders; and
<br />The remainder, if any, to the person or persons legally entitled thereto -
<br />(d) If the Beneficiary of this Deed of Trust is a bank as defined by Nebraska law, any statement contained in any other section of this dead
<br />notwithstanding, The Beneficiary shall not be enrifled to receive or take and debtor shall not be obligated to pay or give: any confession of
<br />judgment, power of attorney to confess judgment, power of attorney to appear for a borrower in a judicial proceeding or agreement to pay the
<br />coats of collection or the attorneys' fees, unless such acts of collection would not otherwise be prohibited by Nebraska law, provided, however,
<br />that this section does not apply to the Trustee tee referred to in paragraph 6 (b). provided further, that this paragraph shall not apply to this Dead
<br />of Trust, if the Beneficiary is not a bank.
<br />(12) Additional Security Instruments. Trustor, at its expense, will execute and deliver to the Beneficiary, promptly upon demand, such security
<br />instruments as may be required by Beneficiary, in form and substance satisfactory to Beneficiary, covering any of the Property conveyed by this
<br />Dead of Trust, which security Instruments shall be additional security for Trustor's faithful performance of all of the terms, convenants and con-
<br />ditions of this Deed of Trust, the promissory notes secured hereby, and any other security instruments executed in connection with this transac.
<br />tion. Such instruments shall be recorded or filed at Trustor's expense.
<br />(13) Appointmsnt of Successor Trust ". Beneficiary may. from time to time, by a written instrument executed and acknowledged by
<br />Beneficiary, mailed to Trustor and recorded in the county or counties in which the Property is located and by otherwise complying with the
<br />provisions of the applicable laws of the State of Nebraska substitute a successor or successors to the Trustee named herein or soling thereun-
<br />der.
<br />114) Inspections. Beneficiary, or its agents, representatives or workmen, are authorized to enter at any reasonable time upon or in any part of
<br />the Property for the purpose of inspecting the same and for the purpose of performing any of the acts it is authorized to perform under the terms
<br />of the Dead of Trust.
<br />115) Option to Foreclosure. Upon the Occurrence of any default hereunder. Beneficiary shall have the option to foreclose this Deed of Trust in
<br />the manner provided by law for the foreclosure of mortgages on real property.
<br />(16) Fanbearence by Beneficiary or Trustee Not a Waiver. Any forebearance by Beneficiary or Trustee in exercising any right or remedy
<br />hereunder, OF otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. Likewise, the
<br />waiver by Beneficiary or Trustee of any default of Trustor under this Deed of Trust shall not be deemed to be a waiver of any other or similar
<br />defaults subsequently occuring.
<br />(1 7) Trustor Not Released. Extension of the time for payment or modification or amortization of the sums secured by this Deed of Trust gran -
<br />ted by Beneficiary to any successor in interest of Trustor shall not operate to release, in any manner, the liability of the original Trustor and
<br />Trustor's successor in interest. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original Trustor and
<br />Truslor's successor in interest.
<br />(18) Beneficiary's Powers. Without affecting the liability of the Trustor or any other person liable for the payment of any obligation herein- men-
<br />. tioned, and without affecting the lien or charge of this Deed of Trust upon any portion of the property not then or theretofore released as security
<br />forthe full amount of all unpaid obligations. beneficiary may, from time to time and without notice, ii) release any person so liable. (ii) extend the
<br />maturity or alter any of the terms of any such obligations. (iii) grant other indulgences, (iv) release or reconvey, or cause to be released or recon-
<br />veyed at any time at Beneficiary's options any parcel, portion or all of the Properly, (v) take or release any other or additional security for any
<br />obligation herein mentioned, or (vi) make compositions or other arrangements with debtors in relation thereto.
<br />jig) Recon faryance by Trust ". upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender of
<br />this Deed of Trust and the Note to Trustee for cancellation and retention and upon payment by Trustor of Trustee's fees. Trustee shall reconvey
<br />to Trustor, or the person or persons legally entitled thereto, without warranty, any portion of the Property then held hereunder. The recitals in
<br />such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The grantee In any reconveyance may be
<br />described as "the person or persons legally ent itfed thereto ".
<br />(20) Notices. Except for any notices, demands, requests, or other communications required under applicable law to be given in another man-
<br />ner, whenever Beneficiary. Trustor, or Trustee gives or serves any notice (including, without limitation, notice of default ano notice of sale),
<br />demands, requests or other communication with respect to this Deed of Trust, each such notice, demand, request or other communication shall
<br />be in writing and shail be effective only 0 the same is delivered by personal service or mailed by certified marl, postage prepaid, return receipt
<br />requested, addressed to the address as set forth at the beginning cr this Deed of Trust. Trustor hereby requests that a copy of any notice of
<br />default, any notice of sale, required or permitted to be given the Trustor hereunder, be mailed to it at the address set forth at the beginning of this
<br />Deed of Trust. Any party may at any time change its address tot such notices by delivering or mailing to the other parties hereto. as aforesaid, a
<br />notice of such change. Any notice hereunder shall be deemed to have been given to Trustor or Beneficiary, when given in the manner designatad
<br />herein.
<br />(2 1) Governing Law. This Deed of Trust shah be governed by the laws of the State of Nebraska.
<br />(22) Successors and Assigns. This Deed of Trust and all terms, conditions and obligations herein apply to and inure to the benefit of and hind
<br />all parties hereto, their heirs. legatees, devisees, personal representatives, successors and assigns. The term Beneficiary" shat: mean the
<br />owner and holder of the Note, whether or not named as Beneficiary herein.
<br />(23) Joln1 and Several Liability. All covenants and agreements of Trustor shall be joint and several.
<br />(24) SeverabNity. in the event any one or more of the provisions contained in this Deed of Trust, or the Note of any other security instrument
<br />given in connection with this transaction shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity.
<br />Illegality, or unenforceability shall, at the option of Beneficiary, not affect any other provision of this Deed of Trust. but this Deed of Trust shall
<br />be construed as if such invalid, illegal, or unenforceable provision had never been ^Detained herein or therein. If the lien of this Deed of Trust is
<br />invalid or unenforceable as to any part of the debt, or if the lien is invalid or unenforceable as to any part of the Property. the unsecured or par -
<br />tially secured Portion of the debt shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the
<br />debt, and all payments made On the debt, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered
<br />to nave been first paid on and applied to the full payment of that portion Of the debt which is not secured or not fu!;y secured by the lien of this
<br />Deed of Trust_
<br />'25) Number and Gender; Captions. Whenever used herein. the singular number shall include the plural the piurai, the singular. and the use of
<br />any gender shall be applicable to all genders. The captions and headings of the paragraphs of this Deed of Trust are for convenience only and
<br />are Plot to tre used to interpret or define the provisions hereof.
<br />!261 Acceptance by Trustee. Trustee accepts this Trust when inis Deed of Trust, duly executed and acknowledged is made a public record as
<br />provided by law.
<br />J
<br />
|