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84- 005508 ficiary to be applied to the outstanding principal balance of the loan . and Beneficiary and Trustee shall in turn partially reconvey the Dee'.j of Trust and remove the Deed of Trust's lien and security agreement's lien on the particular Unit transferred by Trustor to the purchaser of the Unit. Upon Trustor and Trustor's purchaser closing on the sale and purchase of Units 101, 102, 103 and 201 as more fully described in Exhibit "A" and the closing. by Trustor's purchaser on a tax-exempt issue of approximately. One M1!lion Dollars ($1,000,000), the Beneficiary and Trustee shall partially recoDveythe Deed of Trust to Trustor to remove the Deed of Trust's lien andSecu-rity Agreement's lien on Units 101, 102, 103, and 201. Upon Trustor's closing on the sale of Parcel One (Parking Lot) as described in Exhibit "A" with' the City of Grand Island for the purpose of constructing andoperatlDg a public parking facility, Beneficiary and Trustee shall partially reconvey the Deed of Trust to Trustor to remove the Deed of Trust's lien and Security Agreement's lien on Parcel One (Parking Lot). ARTICLE VI mSCELLANEOUS 6.01. Construction of Deed of Trust. In the event anyone' or more of the provisions contained in this Deed of Trust or in the Note or in the-Con- struction Loan Agreement shall for any reason be held to be invalid, illegal or unenforceable in any respect. such in- ,-l'dity. illegality or unenforceability shall not affect any other prm,"ision "J' ~,",...!e Loan T:xuments, but these Loan Documents shall be cons+1."u,~d as' :mch invalid. illegal or unenforceable provision had never been contained herein or therein. 6.02. Joint and Several Liability. All covenants and agreements of Trustor shall be joint and several. 6.03. Unsecured Debt If the lien of this Deed of Trust is invalid or unenforceable as to any part of the debt, or if the lien in invalid or unen- forceable as to any part of the Property. the unsecured or partially secured portion of the debt shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the debt and all pay- ments made on the debt. whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the debt which is not secured or not fully secured by the lien of this Deed of Trust. 6.04 Usury. All agreements between Trustor and Beneficiary are expressly limited so that in no contingency or event whatsoever, whether by reason of advancement of the principal amount of the Note. Default Rate, acceleration of maturity of the unpaid principal balance thereof, or otherwise. or advancement of any sums under the provisions of this Deed of Trust. shall the amount paid or agreed to be paid to the holder of the Note for the use. forbearance or detention of the money to be advanced thereunder or here- under exceed the highest lawful rate permissible. If, for any circumstances whatsoever. fulfillment of any provision of this Deed of Trust or the Note or any other agreement referred to herein, at the time performance of such provision shall be due. shall involve transcending the limit of validity pre- scribed by law which a court of competent jurisdiction may deem applicable thereto. then the obligations to be fulfilled shall be reduced to the iimit of such validity, and if from any circumstance the holder of the Note or Bene- ficiary shall ever receive as interest an amount which would exceed the highesl lawful rate, such amount which would be excessive interest shall be applied to the reduction of the unpaid principal balance due hereunder and not to the payment of interest or. if such excessive interest exceed the unpaid principal balal'lCe due hereunder. the excess shall be refunded to Trustor or its successors or assigns. This Section 6.04 shall control every other provision of all agreements between Trustor and Beneficiary. IL05 Notice. All written notices expressly provided hereunder and all notices a..'1d demands of a.ny kind or nature whatsoever shall be in writing and shall be served by registered or certified mail. Any such notice or demal1d so served by registered or certified mail shall be deposited in the United States mail, with postage thereon fully prepaid lind addressed to the party so to be served at its address above stated or at such other address of which it 17-