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84 --fi G (~ 72 3 attorney fees, which may have been incurred by Lender in the collection thereof, at the sole discretion of Lender, be released to Trustor, applied to restoration of the Property, or applied to the payment of the Indebtedness. 8. Trustor Not Released. Extension of the time for payment or modifica- tion of any amortization of the Indebtedness granted by Lender to $orrower or any successor in interest of Trustor shall not operate to release, in any manner, the liability of the Trustor, Borrower or Trustor's successors in interest. Lender shall not be required Lo commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the Indebtedness by reason of any demand made by the Trustor, Borrower or Trustor's successors in interest. 9. Forbearance by Lender Not a Waiver. Anp forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or the discharge of liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the Indebtedness. 10. Remedies Cumulative. A11 remedies provided in this Trust Deed are distinct and cumulative to any other right or remedy under this Trust Deed or affor- ded by law or equity, and may he exercised concurrently, independently or succes- sively. Duties imposed upon Lender under this Trust Deed and under any other docu- ment evidencing indebtedness ar other collateral security shall not be construed to be cumulative and shall be construed in the context of the purpose of the document and the nature of Lhe particular collateral. In the event of inconsis[ency between such documents as to such duties, the terms of this Trust Deed shall control. 11. Successors and Assigns Bound; Joint and Several Liability; Captiaas. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Trustor, subject to the provisions of paragraph 14(f) hereof. All covenants and agreements of Trustor shall be joint and several. `the captions and headings of the paragraphs of this Trust Deed are for convenience only and are not to be used to interpret or define the provisions hereof. 12. Notice. Except for any notice required under applicable law to be given in another meaner, (a) any ratice to Trus*_or provided fer in this Trust Deed shall be given by mailing such notice by certified mail addressed to Trustor at P.O. Box 1613, Grand Island, Nebraska b8802 or at such other address as Trustor may desig- nate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt requested, to Lender's address stated herein or to such other address as Lender u~ay designate by notice to Trustor as provided herein. Any notice provided for in this Trust Deed shall be deemed to have been given to Trustor or Lender when given in Lhe manner designated herein. 13. Governing Law; Severabil~. This Trust Deed shall be governed by the laws of the State of Nebraska. Tn the event that any provision or clause of ibis Trust Deed conflicts with applicable law, such conflict shall not affect other provi- sions of this Trust Deed which can be given effect. without the conflicting provisions and to this end Lhe provisions of this Trust Deed are declared to be severable. 24. Events of Default. Each of the fol:lowiug occurrences shall constitute an even[ of default hereunder (herein called "Event of Default"): (a} Borrower shall fail to pay when due any indebtedness or Trustor shall fail to duly perform or observe any of the covenants or agreements contained in this Trus[ Deed, and such failure shall continue for ten calendar days (b) Any warranty of title made by Trustor in this Trust Deed shall be untrue or be breached (c) (uey representation or warranty made by Borrower ar Trustor i^ auy financial statements or reports submitted to Lender by or an behalf of Borrower or Trus tar shall prove false or materi- ally misleading