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86 16. Appointment of Successor Trustee. Beneficiary may, from time to time, by written instrument executed and acknowledged by Beneficiary, mailed to Trustor ` and recorded in the County in which the property is located and by otherwise, complying with the provisions of the applicable law of the State: of Nebraska, ` substitute a successor or successors to the Trustee named herein or acting hereunder. h 17. Successors and Assigns. This Deed of Trust Construction Security Agreement applies to and tinures to the benefit of and binds all parties hereto, their heirs, legatees, devisees, personal representatives, successors and assigns. The term "Beneficiary" the holder of the whether or not ". shall mean owner and note, named as Beneficiary herein. ` 18. Beneficiary's Powers. Without affecting the liability of any other person liable for the payment of any obligation herein mentioned, and without affecting the lien or charge of this Deed of Trust Construction Security Agreement upon any portion of the property not then or theretofore released as security for the full payment of all. unpaid obligations, Beneficiary may, from time to time � and without notice: (a) release any persons so liable; (b) extend the maturity or alter any of the terns of any such obligation; (c) grant other indulgences; (d) release or re- convey or cause to be released or re- conveyed at any time at Beneficiary's option, any parcel, portion or all of the property; (e) take or release any other or additional security for any obligation herein mentioned; or (f) make compositions or other arrangements with debtors in relation thereto. 19. Governing Law. This Deed of Trust Construction Security Agreement shall be governed by the laws of the State of Nebraska and, in the event any one or more of the provisions contained in this Deed of Trust Construction Security Agreement, or the note or any other security instrument given in connection with this trans- action shall be for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Deed of Trust Construction Security Agreement, but the Deed of Trust Construction Security Agreement shall be construed as if such invalid, illegal or enforceable provision had never been contained herein or therein. 20. Effect of Forbearance. Any forbearance by Beneficiary or Trustee in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise cf any such right or remedy hereunder. Likewise, the waiver by Beneficiary or Trustee of any default of the Trustor under this Deed of Trust Construction Security Agreement shall not be deemed to be a waiver of any other or similar default subsequently occurring. 21. Re- oonveyance by Trustee. Upon written request of the Beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed of Trust Construction Security Agreement and the note to the Trustee for cancellation and retention and upon payment by Trustor of Trustee's fees, Trustee shall re- convey to Trustor, or the person or persons legally entitled thereto, without warranty, any portion of the property then held hereunder. Recitals in such re- conveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. Grantees in the re- conveyance may be described as "the person or persons legally entitled thereto." 22. Acceptance by Trustee. Trustee accepts this trust when this Deed of Trust Construction Security Agreement, duly executed and aciuiowledged, is made ' apublic record as provided by law. r