|
F
<br />85-. 00252 4
<br />(c) After paying the Items specified in subparagraph (b), if the sale is by Trustee, or the proper court and other costs of foreclosure 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 fees;
<br />(3) All sums then secured hereby and any liens having priority over this one;
<br />(4) Junior trust deeds, mortgages, or other lienholders; and
<br />(5) 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 deed
<br />notwithstanding, The Beneficiary shall not be entitled 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 />costs 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 fee 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 />VZAddlllenal Security Uatrunionts. 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 />Deed 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) AppeMfmsnt of Successor Trusts. 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 Trusts named herein or acting hereun-
<br />der.
<br />(14) 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 Deed of Trust.
<br />(15) Option to Foreelosurs. 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 />(tip Forabeannce by Beneficiary or Trusts Not a Waiver. Any forebearance by Beneficiary or Trustee In exercising any right or remedy
<br />heaunde, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. Likewise, the
<br />waive by Beneficiary or Trusts of any default of Trustor under this Deed of Trust shall not be doomed to be a waiver of any other or similar
<br />defaults subsequently occuring.
<br />(11) Tnutor Not Retried. 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 Dead of Trust by reason of any demand made by the original Trustor and
<br />Trustor's successor in interest.
<br />(18) BWMMCtary's pourers. 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 />for the full amount of all unpaid obligations, beneficiary may, from time to time and without notice, (I) release any person so liable, (11) 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 Property, (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 />(19) Recelveyance by Trustee. Upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender of
<br />this Dead of Trust and the Note to Trustee for cancellation and retention and upon payment by Trustor of Trustee's lees, 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 reconveyonce may be
<br />described as "the person or persons legally entitled thereto ".
<br />(20) Notices. Except for any notices, demands, requesla, 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 and 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 shall be effective only If the same is delivered by personal service or mailed by certified mail, postage prepaid, return receipt
<br />requested, addressed to the address as set forth at the beginning of 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 of any time change Its address for 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 designated
<br />heroin.
<br />(21) Governbp Law. This Deed of Trust shall be governed by the laws of the State of Nebraska.
<br />(22) suoeessera and Assigns. This Deed of Trust and all terms, conditions and obligations herein apply to and Inure to the benefit of and bind
<br />ell parties hereto, their heirs, legatees, devisees, personal representatives, successors and assigns. The term "Beneficiary" shall mean the
<br />owner and holder of the Note, whether or not named as Beneficiary herein.
<br />(23) Joint and Several Lisblllty. All covenants and agreements of Trustor shall be joint and several.
<br />(24) Somablilty. In the event any one or more of the provisions contained in this Deed of Trust, or the Note or 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 />lilegality, or unenforceabllity 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 contained herein or therein. if the Ilan of this Deed of Trust is
<br />Invalid or unenforceable as to any part of the debt, or if the Ilan is Invalid or unenforceable as to any part of the Property, the unsecured or par-
<br />tially "cured 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 have been first paid on and applied to the full payment of that portion of the debt which Is not secured or not fully secured by the lien of this
<br />Dad of Trust.
<br />126) Number and Oende; Captions. Whenever used herein, the singular number shall Include the plural, the plural, the singular, and the use of
<br />any gander 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 not to be used to inlerprsl or define the provisions hereof.
<br />(25) Atosplance by Trust". 'trustee accepts Ihie Trust when this Deed of Trust, duly executed and acknowledged, is made a public record as
<br />provided by taw.
<br />
|