|
<br />Loan No: 142089J 5 . ,..
<br />.. j i; '.:t.. t" "
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200803656
<br />
<br />Page 5
<br />
<br />Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and performance of any
<br />indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powers under this Deed of Trust, under the Note,
<br />under any of the Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding, some or all of
<br />such indebtedness and obligations secured by this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of
<br />trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement, whether by court action or
<br />pursuant to the power of sale or other powers contained In this Deed of Trust, shall prejudice or In any manner affect Trustee's or Lender's
<br />right to realize upon or enforce any other security now or hereafter held by Trustee or Lender, It being agreed that Trustee and Lender, and
<br />each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Lender or Trustee in such order
<br />and manner as they or either of them may In their absolute discretion determine. No remedy conferred upon or reserved to Trustee or
<br />Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by law provided or permitted, but each shall be cumulative
<br />and shall be in addition to every other remedy given in this Deed of Trust or now or hereafter existing at law or in equity or by statute. Every
<br />power or remedy given by the Note or any of the Related Documents to Trustee or Lender or to which either of them may be otherwise
<br />entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Lender,
<br />and either of them may pursue inconsistent remedies. Nothing in this Deed of Trust shall be construed as prohibiting Lender from seeking a
<br />deficiency judgment against the Trustor to the extent such action Is permitted by law. Election by Lender to pursue any remedy shall not
<br />exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Trustor under this
<br />Deed of Trust, after Trustor's failure to perform, shall not affect Lender's right to declare a default and exercise its remedies.
<br />
<br />Request for Notice. Trustor, on behalf of Trustor and Lender, hereby requests that a copy of any Notice of Default and a copy of any Notice
<br />of Sale under this Deed of Trust be mailed to them at the addresses set forth in the first paragraph of this Deed of Trust.
<br />
<br />Attorneys' Fees; Expenses. If Lender Institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled
<br />to recover such sum as the court may adjudge reasonable as attomeys' fees at trial and upon any appeal. Whether or not any court action is
<br />involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time
<br />for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
<br />interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation,
<br />however subject to any limits under applicable law, Lender's attomeys' fees and Lender's legal expenses, whether or not there is a lawsuit,
<br />Including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction),
<br />appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure
<br />reports), surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law. Trustor
<br />also will pay any court costs, In addition to all other sums provided by law.
<br />
<br />Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth In this section.
<br />
<br />POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this Deed of
<br />Trust:
<br />
<br />Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take the following actions
<br />with respect to the Property upon the written request of Lender and Trustor: (a) join in preparing and filing a map or plat of the Real
<br />Property, including the dedication of streets or other rights to the public; (b) join in granting any easement or creating any restriction on the
<br />Real Property; and (C) join in any subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of
<br />Trust.
<br />
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set forth
<br />above, with respect to all or any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender shall have
<br />the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law.
<br />
<br />Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under this
<br />Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of HALL County, State of
<br />Nebraska. The instrument shall contain, in addition to all other matters required by state law, the names of the original Lender, Trustee, and
<br />Trustor, the book and page (or computer system reference) where this Deed of Trust is recorded, and the name and address of the
<br />successor trustee, and the instrument shall be executed and acknowledged by all the beneficiaries under this Deed of Trust or their
<br />successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the title, power, and duties conferred
<br />upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee shall govem to the exclusion of all
<br />other provisions for substitution.
<br />
<br />NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of sale shall
<br />be given In writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law),
<br />when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or
<br />registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure
<br />from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning of this Deed
<br />of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties, specifying that
<br />the purpose of the notice is to change the party's address. For notice purposes, Trustor agrees to keep Lender informed at all times of Trustor's
<br />current address. Unless otherwise provided or required by law, if there is more than one Trustor, any notice given by Lender to any Trustor is
<br />deemed to be notice given to all Trustors.
<br />
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />
<br />Amendments. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties
<br />as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing
<br />and signed by the party or parties sought to be charged or bound by the alteration or amendment.
<br />
<br />Annual Reports. If the Property is used for purposes other than Trustor's residence, Trustor shall furnish to Lender, upon request, a certified
<br />statement of net operating income received from the Property during Trustor's previous fiscal year in such form and detail as Lender shall
<br />require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the
<br />operation of the Property.
<br />
<br />Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define
<br />the provisions of this Deed of Trust.
<br />
<br />Merger. There shall be no merger of the Interest or estate created by this Deed of Trust with any other interest or estate in the Property at
<br />any time held by or for the benefit of Lender In any capacity, without the written consent of Lender.
<br />
<br />Governing Law. With respect to proceclural matters related to the perfection and enforcement of Lender's rights against the
<br />Property, this Deed of Trust will be governed by federal law applicable to Lender and to the extent not preempted by federal law, the
<br />laws of the State of Nebraska. In all oth.- respects, this Deed of Trust will be governed by federal law applicable to Lender and, to
<br />the extent not preempted by federal law, the laws of the State of South Dakota without regard to Its conflicts of law provisions.
<br />However, If there ever Is a question about whether any provision of this Deed of Trust Is valid or enforceable, the provision that Is
<br />questioned will be governed by whichever state or federal law would find the provision to be valid and enforceable. The loan
<br />tran.actlon that Is evidenced by the Note and this Deed of Trust has been applied for, considered, approved and made, and all
<br />necessary loan documents have been accepted by Lender In the State of South Dakota.
<br />
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of HUGHES County,
<br />State of South Dakota.
<br />
<br />Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint and several, and all references to Trustor shall
<br />mean each and every Trustor. This means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<br />
<br />No Waiver by Lender. Lender shall not be deemed to haVe waived any. right~ under this Deed of Trust unless such waiver is given in
<br />writing and signed by Lender. No delay or omission on the Part of Lender in exercising any right shall operate as a waiver of such right or
<br />any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise
<br />to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of
<br />dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustor's obligations as to any future
<br />
|