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<br />Loan No: 14173
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<br />4 , j
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<br />DEED OF TRUST
<br />(Continued)
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<br />200804561
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<br />Page 3
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<br />under the Nebraska Uniform Commercial Code.
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<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained, Lender shall notify
<br />Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and
<br />secured by this Deed of Trust as Trustee may require.
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<br />(a) Upon receipt of such notice from Lender, Trustee shall cause to be recorded, published and delivered to Trustor such
<br />Notice of Default and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall, without demand on
<br />Trustor, after such time as may then be required by law and aher recordation of such Notice of Default and after Notice of
<br />Sale having been given as required by law, sell the Property at the time and place of sale fixed byit in such Notice of Sale,
<br />either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may
<br />determine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of sale.
<br />Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds conveying the property so
<br />sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br />purchase at such sale.
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<br />(b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, including costs of
<br />evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of (i) all sums expended under
<br />the terms of this Deed of Trust or under the terms of the Note not then repaid, including but not limited to accrued interest
<br />and late charges, (ii) all other sums then secured hereby, and (iij) the remainder, if any, to the person or persons legally
<br />entitled thereto.
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<br />(c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
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<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
<br />Note, under any of the Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding,
<br />some or all of such indebtedness and obligations secured by this Deed of Trust may now or hereafter be otherwise secured, whether
<br />by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement,
<br />whether by court action or pursuant to the power of sale or other powers contained in this Deed of Trust, shall prejudice or in any
<br />manner affect Trustee's or Lender's right to realize upon or enforce any other security now or hereafter held by Trustee or Lender, it
<br />being agreed that Trustee and Lender, and each of them, shall be entitled to enforce this Deed of Trust and any other security now or
<br />hereaher held by Lender or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No
<br />remedy conferred upon or reserved to Trustee or Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by
<br />law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given in this Deed of Trust or
<br />now or hereafter existing at law or in equity or by statute. Every power or remedy given by the Note or any of the Related Documents
<br />to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised. concurrently or independently, from time
<br />to time and as often as may be deemed expedient by Trustee or Lender, and either of them may pursue inconsistent remedies.
<br />Nothing in this Deed of Trust shall be construed as prohibiting Lender from seeking a deficiency judgment against the Trustor to the
<br />extent such action is permitted by law.
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<br />Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone or together. If Lender
<br />decides to spend money or to perform any of Trustor's obligations under this Deed of Trust, after Trustor's failure to do so, that
<br />decision by Lender will not affect Lender's right to declare Trustor in default and to exercise Lender's remedies.
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<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
<br />Notice 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.
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<br />Att~rn!}!.~:..f.u.!!.;,.WQJ)!.e.~,.__lf L,ender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be
<br />entitred to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any
<br />court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are
<br />necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable
<br />on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph
<br />include, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses,
<br />whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or
<br />vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching
<br />records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees, title insurance, and fees for the
<br />Trustee, to the extent permitted by applicable law. Trustor also will pay any court costs, in addition to all other sums provided by
<br />law.
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<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
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<br />Governing Law. This Deed of Trust will be governed by federal law applicable to Lender,and, to the extent not P!~~t8d by federal
<br />law, the laws of the State of Nebraska without regard to its conflicts of law provision!!'. n1is Deed of Trust',has'l1eeifaccepted by
<br />Lender in the State of Nebraska. -. '
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<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of ADAMS
<br />County, State of Nebraska.
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<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
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<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Trust.
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<br />DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
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<br />Beneficiary. The word "Beneficiary" means FIVE POINTS BANK OF HASTINGS, and its successors and assigns.
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<br />Borrower. The word "Borrower" means KEVIN R WERNER and includes all co-signers and co-makers signing the Note and all their
<br />successors and assigns.
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<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without
<br />limitation all assignment and security interest provisions relating to the Personal Property and Rents.
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<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental
<br />Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund
<br />Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ("SARA "l. the Hazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or
<br />federal laws, rules, or regulations adopted pursuant thereto.
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<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of
<br />default section of this Deed of Trust.
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<br />Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this
<br />Deed of Trust.
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<br />Guaranty. The word "Gueranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including
<br />without limitation a guaranty of all or part of the Note.
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<br />Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on
<br />the Real Property, facilities, additions, replacements and other construction on the Real Property.
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<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note
<br />or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note
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