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20050953G party under said Code in addition to the rights and remedies created under and accorded the Lender pursuant to this Deed of Trust; provided that Lender's rights and remedies under this paragraph shall be cumulative with, and in no way a limitation on, Lender's rights and remedies under any other security agreement signed by Borrower or Trustor. (i) Liens and Encumbrances. Trustor hereby warrants and represents that there is no default under the provisions of any mortgage, deed of trust, lease or purchase contract describing all of any part of the Property, or other contract, instrument or agreement constituting a lien or encumbrance against all of any part of the Property (collectively "Liens"), existing as of the date of this Deed of Trust and that any and all existing Liens remain unmodified except as disclosed to Lender in Trustor's written disclosure of liens and encumbrances provided for herein. Trustor shall timely perform all of Trustor's obligations, covenants, representations and warranties under any and all existing and future Liens, shall promptly forward to Lender copies of all notices of default send in connection with any and all existing or future Liens, and shall not without Lender's prior written consent in any manner modify the provisions of or allow any future advances under any existing or future Liens. (j) Application of Payments. Unless otherwise required by law, sums paid to Lender hereunder, including without limitation, payments of principal and interest, insurance proceeds, condenmation proceeds and rents and profits, shall be applied by Lender to the amounts due and owing from Trustor and Borrower in such order as lender in its sole discretion deems desirable. (k) Severability. If any provision of this Deed of Trust conflicts with applicable law or is declared invalid or otherwise unenforceable, such conflict or invalidity shall not affect the other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision, and to this end the provisions of this Deed of Trust and the Note are declared to be severable. (I) Terms. The terms "Trustor" and "Borrower" shall include both singular and plural, and when the Trustor and Borrower are the same person(s), those terms as used in this Deed of Trust shall be interchangeable. (m) Governing Law. This Deed of Trust shall be governed by the laws of the State of Nebraska. Trustor has executed this Deed of Trust as of the date written above. Ji7!L--- STATE OF NEBRASKA ) COUNTY OF AVA-f'V\S" ) The foregoing Deed of Trust with Future Advances was acknowledged before me this2>utday of ~~ Joel W. Lee and Deborah K. Lee, husband and wife. ) ......- , 20D 1; , by (~~.Jitt Notary Public My commission expires: rW-~/3, UZJ0 , GENERAl.. NOTARY. Stale 01 Nebraska RICHARD C. WITT My comm. Exp. Oct. 13, 2.006