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e 200803103 e 7. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written instrument executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the Trust Estate 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. 8. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, divorcee, personal representatives, successors and assigns. The term "Beneficiary" shall mean the owner and holder of the Note, whether or not named as Beneficiary herein. I). INSPI'~C~TION. Beneficiary or its ng-cnt may make relHJOnnhle entries upon and inRpections of the Property. Beneficiary shall give Trustor 1I0th:c Ilt the Unlll of or prior to nn inAped.ioll spocilying rpaAonnhlt, ('nllAP Ihr thp illslwdion. 10. TRUSTOR NOT RELEASED; FORBEARANCE BY BENEFICIARY NOT A WAIVEH..I<~xtension of the time for payment or modification of amortization of the Bums secured by this Security Instrument granted by Beneficiary to any successor in interest of'rruRtor shall not operate to release the liability ofthe original Trustor or Trustor's successors in interest. Beneficiary sball not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the originsl Trustor or Trustor's successors in interest. Any forbearance by Beneficiary in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN TRUSTOR. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Trustor is sold or transferred and Trustor is not a natural person) without Beneficiary's prior written consent, Beneficiary may, at its option, require immediate payment in full of all sums secured by this Security Instrument, however, this option shall not be exercised by Beneficiary if exercise is prohibited by fedcrallaw as of the date ofthis Security Instrument. If Beneficiary exercises this option, Beneficiary shall give Trustor notice of acceleration. The notice shall provide a period of not less than 30 days from tbe date the notice is delivered or mailed within which the Trustor must pay all sums secured by this Security Instrument. If Trustor fails to pay these sums prior to the expiration of this period, Beneficiary may invoke any remedies permitted by this Security Instrument without further notice or demand on Trustor. 12. EVENTS OF DEFAULT. Any of the following events shal\ be deemed an event of default hereunder: a. Trustor shall have failed to make payment of any installment of interest, principal, or principal and interest or any other sum secured hereby when due; or b. There has occurred a breach of or default under any term, covenant, agreement, condition, provision, represen- tation or warranty contained in any of the Loan Instruments. 13. ACCELERATION; REMEDIES. Beneficiary shall give notice of default to Trustor prior to acceleration following Trustor's breach of any covenant or agreement in this Trust Deed. The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Trustor, by which the default must be cured: and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Trustor of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Trustor to acceleration and sale. If the default is not cured on or before the date specified in the notice, Beneficiary at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Trustor shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 13, including, but not limited to, reasonable attorney's fees and costs of title evidence. Ifpower of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall mail copiea of such notice in the manner prescribed by applicable law to Trustor and to the other persons preacribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the persons and in the manner prescribed by applic- able law. Trustee, without demand on Trustor, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of any pre- viously scheduled sale. Beneficiary or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to, Trustee's fees as permitted by applicable law and reasonable attorney's fees; (b) to all sums secured by this Security Instrument; and (c) any excesS to the person or persons legally entitled to it. 14. BENEFICIARY IN POSSESSION. Upon acceleration under paragraph 13 or abandonment of the Property, Beneficiary (in person, by agent or by judicially appointed receiver) shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. Any rents collected by Beneficiary or the receiver Rhul\ be npplied first: t.o payment: of the costs of management of t.he Properl.y and eol1ection of rents, includ- ing, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable nttorney's fees, and then to the sums secured by this Security Instrument. 15. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebtedness or obligations secured hereby and to exercise all rights and powers under this Deed of'l'rust or under any Loan Instrument or other agreement or any laws now or hereafter in force, notwithstanding some or all of the such indebtedness and obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforce- ment whether by court action or pursuant to the power of sale or other powers herein contained, shall prejudice or in any manner affect Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiary, it being agreed that Trustee and Beneficiflry, find each of t.hNn, "hall be entitled to entiJrCll thjp~ Deed of Tn HIt and uny other security now or hereafler held by Beneficiary or Trustee in such order and manner nR they or either of them may ill their absolute discretion deternline. No remedy herein conferred upon or reserved to Trust.ee 01' Beneficiar-y is intclHkd to be cxchlflivl! of any other rel1l1'dy hCl.ein or by law provid\!d or permitted, hut each shall be cumulative and HlwlllJl' in uddition to eve,'y other rcmcdy givl'n hereunder or now or IlPrclltlm' I'xi!ltillg at. lnw or ill cquit.y or hy stntutc. Every power or remedy given by allY of the Loan Instruments to Trustee or Ueneficinry or to which either of them Illay be otherwise entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expe- dient lJy Trustee or Beneficiary and either of them may pursue inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a deficiency judgment against the Trustor to the extent such action is permitted by law. 16. GOVERNING LAW. This Deed of Trust shall be governed by the laws of the State of Nebraska. In the event t.hat any provision or clause of any of the Loan Instruments conflicts with applicable laws, such conflicts shall not affect other provisions of such Loan Instruments which can be given effect without the conflicting provision, and to this end the pro- visions of the Loan Instrument!'! are declared to be severable. This instrument cannot be waived, changed, discharged or terminated orally, but only by an instrument in writing signed by the party against whom enforcement of any waiver, change, discharge or termination is sought. 17. RECONVEYANCE. Upon payment of all sums secured by this Security Instrument, Beneficiary shall request Trustee to reconvey the Property and shall surrender thiR Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the per- son or persons legally entitled to it. Such person or persons shall pay any recordation costs.