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200905829
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Last modified
7/16/2009 4:36:50 PM
Creation date
7/16/2009 4:35:40 PM
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DEEDS
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200905829
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2oo9o5s~9 <br />6.10 Release of Rights of Dower, Homestead and Distributive Share. Each of the <br />undersigned hereby relinquishes all rights of dower, homestead and distributive share in and <br />to the Property and waives all rights of exemption as to any of the Property. <br />6.11 Copy. The Trustor hereby acknowledges the receipt of a copy of this Deed of <br />Trust, together with a copy of each promissory note secured hereby, and all other documents <br />executed by the Trustor in connection herewith. <br />6.1.2 Usury Savings Clause. Notwithstanding anything herein or in the Note to the <br />contrary, no provision contained herein or in the Note which purports to obligate the Trustor <br />to pay any amount of interest or any fees, costs or expenses which are in excess of the <br />maximum permitted by applicable law, shall be effective to the extent that it calls for the <br />payrr-ent of any interest or other sums in excess of such maximum. All agreements between <br />the Trustor and the Beneficiary, whether now existing or hereafter arising and whether written <br />or oral, are hereby limited so that in no contingency, whether by reason of demand for <br />payment of or acceleration of the maturity of any of the indebtedness secured hereby or <br />otherwise, shall the interest contracted for, charged or received by the Beneficiary exceed the <br />maximum amount permissible under applicable law. If, from any circumstance whatsoever, <br />interest would otherwise be payable to the Beneficiary in excess of the maximum lawful <br />amount, the interest payable to the Beneficiary shall be reduced to the maximum amount <br />permitted under applicable law and if from any circumstance the Beneficiary shall ever <br />receive anything of value deemed interest by applicable law in excess of the maximum lawful <br />amount, an amount equal to any excessive interest shall at the Beneficiary's option, be <br />refunded to the Trustor or be applied to the reduction of the principal balance of the <br />indebtedness secured hereby and not to the payment of interest or, if such excessive interest <br />exceeds the unpaid balance of principal indebtedness secured hereby, such excess shall be <br />refunded to the Trustor. This paragraph shall control all agreements between the Trustor and <br />the Beneficiary. <br />6.13 Nebraska Trust Deed. This Deed of Trust shall constitute a trust deed under the <br />Nebraska Trust Deeds Act, Neb. Rev. Stat. §§ 76-1001 et seq., as amended and as may be <br />amended from time to time. Trustor expressly subjects the Property to such Act, and the <br />Trustee and Beneficiary shall be accorded all the rights, powers and remedies of a trustee and <br />a beneficiary as provided therein. All rights, powers and remedies of the Nebraska Trust <br />Deeds Act are hereby incorporated by reference as if the rights, powers and remedies were <br />expressly provided herein, with Beneficiary as a "beneficiary," Trustor as a "trustor," Trustee <br />as a "trustee," this Deed of Trust as a "trust deed" and that portion of the Property constituting <br />real property as "trust property." <br />TRUSTOR UNDERSTANDS THAT (A) THIS DEED OF TRUST IS A TRUST DEED <br />AND NOT A MORTGAGE (UNLESS MORTGAGEE ELECTS TO FORECLOSE <br />THIS DEED OF TRUST AS A MORTGAGE), AND (B) THE POWER OF SALE <br />PROVIDED FOR IN THIS DEED OF TRUST PROVIDES SUBSTANTIALLY <br />DIFFERENT RIGHTS AND OBLIGATIONS TO TRUSTOR THAN A MORTGAGE <br />IN EVENT OF DEFAULT OR BREECH OF AN OBLIGATION. <br />aiao~aas ~e ate, Page 12 <br />
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