|
<br />-.."
<br />
<br />" .>
<br />'. , (
<br />
<br />I, .
<br />
<br />. :
<br />, '
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200804805
<br />
<br />Page 5
<br />
<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.
<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
<br />entitled 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 afe
<br />necessary at any time for the protection of its Intefest or the enforcement of its fights shall become a part of the Indebtedness payable
<br />on demand and shall beaf interest at the Note rate ffom the date of the expenditure until fepaid. Expenses covefed by this paragraph
<br />include, without limitation, however subject to any limits undef applicable law, Lendef'S attorneys' fees and Lender's legal expenses,
<br />whether or not there is a lawsuit, including attorneys' fees and expenses fOf 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 />fecords, obtaining title feports (including foreclosure feports), sUfveyors' feports, and appfaisal fees, title insurance, and fees for the
<br />Trustee, to the extent permitted by applicable law. Tfustor also will pay any court costs, in addition to all other sums provided by
<br />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 afe paft of this
<br />Deed of Trust:
<br />
<br />Powers of Trustee. In addition to all powefs of Trustee arising as a matter of law, Trustee shall have the power to take the following
<br />actions with respect to the Propefty upon the written request of Lender and Trustor: (a) join in preparing and filing a map Of plat of
<br />the Real Pfoperty, including the dedication of streets or other rights to the public; (b) join in granting any easement or creating any
<br />restfiction on the Real Property; and (c) join in any subordination or other agreement affecting this Deed of Trust or the intefest of
<br />Lender under this Deed of TfUSt.
<br />
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the fights and remedies set
<br />forth above, with respect to all or any part of the Property, the Trustee shall have the fight to foreclose by notice and sale, and Lender
<br />shall have the fight to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable
<br />law.
<br />
<br />Successor Trustee. Lender, at Lender's option, may from time to time appoint a succeSSOf Trustee to any Tfustee appointed under
<br />this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recofdef of Hall County,
<br />State of Nebraska. The instrument shall contain, In addition to all other matters required by state law, the names of the ofiginal
<br />Lender, Trustee, and Trustor, the book and page (Of computer system reference) where this Deed of Trust is recorded, and the name
<br />and address of the succeSSOf trustee, and the Instfument shall be executed and acknowledged by all the beneficiaries under this Deed
<br />of Trust Of their successors in interest. The succeSSOf trustee, without conveyance of the Property, shall succeed to all the title,
<br />power, and duties confeffed upon the Trustee in this Deed of Tfust and by applicable law. This procedufe for substitution of Trustee
<br />shall govern to the exclusion of all other pfovisions fOf 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
<br />sale shall be given in writing, and shall be effective when actually delivefed, when actually feceived by telefacsimile (unless otherwise
<br />fequired by law), when deposited with a nationally fecognized overnight coufier, or, if mailed, when deposited in the United States mail, as
<br />fifSt class, ceftified or fegistefed mail postage prepaid, difected to the addresses shown neaf the beginning of this Deed of Trust. All
<br />copies of notices of fOfeclosure from the holder of any lien which has pfiofity ovef this Deed of TfUSt shall be sent to Lender's address, as
<br />shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal
<br />wfitten notice to the other parties, specifying that the purpose of the notice is to change the party's address. FOf notice purposes, TfUStOf
<br />agrees to keep Lendef informed at all times of Trustor's CUffent address. Unless otherwise provided or required by law, if there is mOfe
<br />than one Trustor, any notice given by Lender to any TrUStOf is 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
<br />pafties as to the matters set forth in this Deed of Trust. No alteration of Of amendment to this Deed of Trust shall be effective unless
<br />given in writing and signed by the party or parties sought to be charged Of 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 fequest, a
<br />certified statement of net operating income received from the Property during TrustOf'S previous fiscal yeaf in such form and detail as
<br />Lender shall require. "Net opefating income" shall mean all cash receipts from the Pfoperty less all cash expenditufes made in
<br />connection with the operation of the Pfopefty.
<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
<br />define the pfovisions of this Deed of TfUSt.
<br />
<br />Merger. Thefe shall be no mefger of the intefest or estate created by this Deed of Trust with any other interest or estate in the
<br />Propefty at any time held by Of for the benefit of Lender in any capacity, without the written consent of Lender.
<br />
<br />Governing Law. This Deed of Trust will be governed by federal law applicable to Lender and. to the extent not preempted by federal
<br />law. the laws of the State of Nebraska without regard to its conflicts of law provisions. This Deed of Trust has been accepted by
<br />Lender in the State of Nebraska.
<br />
<br />Choice of Venue. If thefe is a lawsuit. Trustor agfees upon Lender's fequest to submit to the jUfisdiction of the courts of Hall County,
<br />State of Nebraska.
<br />
<br />Joint and Several Liability. All obligations of Trustor under this Deed of TfuSt shall be joint and sevefal, and all references to TfUStOr
<br />shall mean each and every Trustor. This means that each TruStOf signing below is fesponsible fOf all obligations in this Deed of Trust.
<br />
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights 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 ope fate as a waiver of such
<br />fight Of any other right. A waiver by Lender of a pfovision of this Deed of Trust shall not prejudice or constitute a waivef of Lendef'S
<br />right othefwise to demand strict compliance with that pfovision Of any other provision of this Deed of Trust. No prior waiver by
<br />Lender, nOf any course of dealing between Lender and TfUStOf, shall constitute a waiver of any of Lender's rights or of any of
<br />Trustor's obligations as to any future transactions. Whenever the consent of Lender is requifed undef this Deed of TfUSt, the granting
<br />of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is
<br />required and in all cases such consent may be granted or withheld In the sole discretion of Lender.
<br />
<br />Severability. If a COUft of competent jurisdiction finds eny provision of this Deed of Trust to be illegal, invalid, Of unenforceable as to
<br />any person or cifcumstance, that finding shall not make the offending pfovision illegal, invalid, or unenfofceable as to any other pefson
<br />or circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If
<br />the offending provision cannot be so modified, it shall be considered daleted from this Deed of Trust. Unless otherwise requifed by
<br />law, the illegality, invalidity, or unenforceability of any pfovision of this Deed of Trust shall not affect the legality, validity or
<br />enfofceability of any other pfovision of this Deed of Trust.
<br />
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's intefest, this Deed of Trust
<br />shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Pfoperty becomes
<br />vested in a person other than Trustof, Lendef, without notice to TfUStOr, may deal with TfUStOr's successors with reference to this
<br />Deed of Trust and the Indebtedness by way of forbearance or extension without feleasing TrUStOf from the obligations of this Deed of
<br />Trust or liability under the Indebtedness.
<br />
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of TfUSt.
<br />
<br />Waiver of Homestead Exemption. Trustor hereby feleases 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.
<br />
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used In this Deed of TfuSt. Unless
<br />specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America.
<br />
|