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200805760
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Last modified
7/3/2008 4:20:16 PM
Creation date
7/3/2008 4:20:15 PM
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DEEDS
Inst Number
200805760
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<br />200805760 <br /> <br />event Trustor shall fail to comply with the provisions of (a) through (f) above, the Beneficiary <br />may expend such funds and take such action as is necessary to remedy such failure, and all <br />sums paid by the Beneficiary pursuant hereto with interest at the rate hereinafter provided shall <br />constitute a lien upon the Property, shall be secured by this Deed of Trust, and shall be <br />immediately due and repayable to the Beneficiary; (h) not to sell the Real Estate or any portion <br />thereof; or, if the Trustor is a corporation, not more than 0.00% of its corporate stock shall be <br />sold, traded, or disposed of to persons other than the present owners of such stock prior to the <br />time the indebtedness secured hereby shall have been reduced (exclusive of prepayments <br />other than as provided in the said Note} to $0.00, and in the event of any sale herein prohibited, <br />then the entire indebtedness secured by the Deed of Trust shall, at the option of the Beneficiary <br />become due and payable; (i) if the Real Estate or any part or parcel thereof shall be taken or <br />damaged under the power of eminent domain, the award for any Real Estate so taken or <br />damaged (including severance damages to the remaining premises) shall be paid to the <br />Beneficiary and applied in full or in part at the option of the Beneficiary in reduction of the <br />indebtedness hereby secured; (j) the Beneficiary shall have the right to inspect the Property at <br />such reasonable times as the Beneficiary may desire to determine Trustor's compliance with the <br />covenants contained in this Deed of Trust; (k) the Beneficiary may release from the lien hereof <br />any part or parcel of the Property without requiring any consideration therefor; (I) Trustor is <br />lawfully seized of the Real Estate in fee simple, the same is free from all liens and <br />encumbrances except as may otherwise be specifically noted herein or waived in writing by the <br />Beneficiary; Trustor will execute or procure any further necessary assurances of title and does <br />hereby warrant generally the title to said Real Estate and will forever defend the same against <br />the claims and demands of all persons whomsoever, and Trustor's separate estate, whether <br />vested, contingent or in expectancy, is hereby conveyed and Trustor does hereby expressly <br />waive, release all rights and benefits of any homestead, dower, courtesy, appraisement, <br />exemption and stay laws of this state; (m) if Trustor or one of them is a corporation, such <br />Trustor will maintain its status as a family farm or ranch corporation within the meaning of the <br />Nebraska state constitution and statutes authorized to obtain and retain an interest in the real <br />estate described above which will be used for farming or ranching or to engage in farming or <br />ranching in the State of Nebraska; and (n) neither Trustor nor any of them is or shall become a <br />syndicate within the meaning of the Nebraska state constitution and statutes prohibited from <br />acquiring and maintaining an interest in the subject real estate used for farming or ranching or to <br />engage in farming or ranching in the State of Nebraska. It is agreed that the interest provided <br />for in subsection (g) above shall be at the same rate as specified in the Note secured hereby on <br />the principal thereof after default and matur ity. <br /> <br />2. In the event Trustor, without the prior written consent of Beneficiary shall sell, <br />transfer or conveyor contract to sell, transfer or convey the Real Estate, or any part thereof or <br />any interest therein, the entire balance of the indebtedness hereby secured shall become and <br />be immediately due and payable at the option of Beneficiary; provided, however, Beneficiary <br />may waive such option to accelerate if, prior to such sale, transfer or conveyance or contract <br />therefor, Beneficiary and the person to whom the Real Estate is to be sold or transferred reach <br />an agreement in writing that the credit of such person is satisfactory to Beneficiary and that the <br />interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary <br />shall request. <br /> <br />8 <br /> <br />InitialJk ~J2, Le DR. <br />
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