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87101576
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10/19/2011 3:55:10 AM
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3/27/2008 2:03:52 PM
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DEEDS
Inst Number
87101576
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f <br />87- 1 01576 <br />-5- <br />14. GOVERNING LAW. This Deed of Trust shall be governed <br />by the laws of the State of Nebraska. In the event that any pro- <br />vision or clause of any of the Loan Instruments conflicts with <br />applicable laws, such conflicts shall not affect other provisions <br />of such Loan Instruments which can be given effect without the <br />conflicting provisions, and to this end the provisions of the <br />Loan Instruments are declared to be severable. This instrument <br />cannot be waived, changed, discharged, or terminated orally, but <br />only by an instrument in writing signed by the party against whom <br />enforcement of any waiver, change, discharge or termination is <br />sought. <br />15. RECONVEYANCE BY TRUSTEE. Upon written request of <br />Beneficiary stating that all sums secured hereby have been paid, <br />and upon surrender of this Deed of Trust and the Note to Trustee <br />for cancellation and 3etention and upon payment by Trustor of <br />Trustee's fees, Trustee shall reconvey to Trustor, or the person <br />or persons legally entitled thereto, without warranty, any por- <br />tion of the Trust Estate then held hereunder. The recitals in <br />such reconveyance of any matters or facts shall be conclusive <br />proof of the truthfulness thereof. The grantee in any reconvey - <br />ance may be described as "the person or persons legally entitled <br />thereto ". <br />16. NOTICES. Whenever Beneficiary, Trustor, or Trustee <br />shall desire to give or serve any notice, demand, request or other <br />communication with respect to this Deed of gust, each such notice, <br />demand, request or other communication shall be in writing and <br />shall be effective only if the same is delivered by personal <br />service or mailed by certified mail, postage prepaid, return re- <br />ceipt requested, addressed to the address set forth at the begin- <br />ning of this Deed of Trust. Any party may at this time change <br />its address for such notices by delivering or mailing to the <br />other parties hereto, as aforesaid, a notice of such change. <br />17. ACCEPTANCE BY TRUSTEE. Trustee accepts this Trust <br />when this Deed of Trust, duly executed and acknowledged, is made <br />a public as provided by law. <br />18. TRANSFER OF THE PROPERTY. If all of any part of <br />the property or any interest therein is sold, transferred or <br />conveyed by Trustor, without Beneficiary's prior written con- <br />sent, excluding a transfer by devise, descent, or by operation <br />of law upon the death of a joint tenant, the Beneficiary may, <br />at Beneficiary's option, declare all the sums secured by this <br />Deed of Trust to be immediately due and payable, or cause the <br />Trustee to file a notice of default. <br />19. COVENANTS OF TRUSTOR. During the term of this Deed <br />of Trust, Trustor covenants and agrees as follows: <br />A. To not permit any act to be done which would <br />impair Beneficiary's security interest herein; <br />Trustor shall not permit any construction liens, <br />mechanic's liens, or any other encumbrances to <br />be imposed on the property except for the stat- <br />utory lien for real estate taxes which Trustor <br />agrees to pay before the same become delinquent; <br />and, <br />B. To abide by all sanitary laws, health laws, zon- <br />ing requirements, animal ordinances or regula- <br />L tions and subdivision regulations in force in <br />the City of Grand Island, Nebraska, and within <br />its zoning jurisdiction. <br />I <br />
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