|
200908813
<br />at the party's post office address set forth herein. Upon the occurrence of any default hereunder,
<br />Beneficiary shall have the option to foreclose this Deed of Trust in the manner provided by law
<br />for the foreclosure of mortgages on real property.
<br />SIXTH. Truster specifically agrees that (a) Tnistar, at its expense, will execute and
<br />deliver to Beneficiary, promptly upon request, such security instniments as maybe required by
<br />Beneficiary, in a form and substance satisfactory to Beneficiary, covering any of the Property
<br />conveyed by this Deed of Trust which security instruments shall be additional security for
<br />Trustor's faithful performance of all of the terms, covenants and conditions of this Deed of Trust,
<br />the Note and indebtedness secured hereby, and any other security instruments executed in
<br />connection with the indebtedness secured by this Deed of Trust; and all such instruments shall be
<br />filed and recorded at Trustor's expense; (b) Beneficiary may, from time to time, by written
<br />instrument executed and acknowledged. by Beneficiary, mailed to Truster and recorded in the
<br />county or counties in which the Property is located and by otherwise complying with the
<br />provisions of the applicable laws of the State of Nebraska, substitute a successor or successors to
<br />the Trustee named herein. or acting hereunder; (c) although the Trustee, or Trustee's successor or
<br />successors, maybe an agent of, or attorney for, or otherwise connected with the Beneficiary, such
<br />fact shall not be construed to disqualify Trustee to act as such Trustee, nor shall such fact prevent
<br />the Trustee or Beneficiary from bidding at a sale and buying any part or all of the Property at any
<br />sale hereunder; (d) that if it should be necessary ar appropriate far the protection of the security
<br />hereby conveyed ar enforcement of the debt hereby secured, for the Trustee or the Beneficiary to
<br />institute ar become a party to any proceeding or suit in a court of bankruptcy or probate or other
<br />court of general or limited jurisdiction, all. expenses and casts properly incurred by said Tnistce
<br />or said Beneficiary (including reasonable attorneys' fees) paid or incurred by such Trustee or
<br />Beneficiary in maintaining, prosecuting or defending such proceeding or protecting their
<br />respective rights hereunder shall be an additional debt secured by this .Deed of Trust in like
<br />manner with the principal debt herein described; (c) Beneficiary, or its agents, representatives or
<br />workmen, are authorized to enter at any reasonable time upon or in any part of the Property for
<br />the purpose of inspecting the same and for the purpose of perfonr~ing any of the acts it is
<br />authorized to perform under the terms of this Deed. of Trust; (f) any forbeara~~ce by Beneficiary
<br />or Trustee in exercising any right or remedy hereunder, or otherwise afforded by applicable law,
<br />shall not be a waiver of or preclude the exercise of any such right or remedy hereunder; similarly,
<br />the waiver by Beneficiary ar Trustee of any default of Truster under this Deed of Trust shall not
<br />be deemed a waiver of any other or similar defaults subsequently occurring; (q) extension of the
<br />time for payment or modification or amortization of the sums secured by this Deed of Trust
<br />granted by Beneficiary to any successor in interest of Truster shall not operate to release, in any
<br />manner the liability of the original Truster and Trustor's successor in interest. Beneficiary shall
<br />not be required to commence proceedings against such successor or refuse to extend the time for
<br />payment or otherwise modify amortization of the sums and indebtedness secured by this Deed of
<br />Trust by reason of any demand made by the original Truster and Trustor's successors in interest;
<br />(h) without affecting the liability of the Truster or any other person liable for the payment of the
<br />obligations and indebtedness secured by this Deed of Trust, and without affecting the lien or
<br />charge of this Deed of Trust upon any portion of the Property not then ar theretofore released as
<br />security for the full amount of all unpaid obligations, Beneficiary may, from time to time and
<br />without notice (I) release any person so liable, (ii) extend the maturity or alter any of the terms of
<br />such obligation, (iii) grant other indulgences, (iv) release or reconvey, or cause to be released ar
<br />reconveyed at any time at Beneficiary's option any parcel, portion or all of the Property, (v) take
<br />or release any other or additional security for any obligation or indebtedness herein mentioned, or
<br />(vi) make compositions or other arrangements with debtors in relation thereto; (I) in addition to
<br />the rights and powers given to the Trustee and Beneficiary herein, the Beneficiary shall have all
<br />such other rights both in law and equity for collection of tlae indebtedness secured hereby as it
<br />would have but for this Deed of Trust; (j.) all covenants and agreements of Tnistor set forth in
<br />this Deed of Trust shall be joint and several; (k) this Deed of Trust shall be governed by the laws
<br />of the State of Nebraska; (1) in the event any one or more of the provisions contained in this
<br />Deed of Trust, or the Note or any other security instrument given in connection with the
<br />indebtedness hereby secured shall for any reason be held to be invalid, illegal ar unenforceable in
<br />any respect, such invalidity, illegality, or unenforceability shall, at the option of Beneficiary, not
<br />affect any other provision of this Deed of Trust, but this Deed of Trust shall be construed as if
<br />such invalid, illegal, or unenforceable provision had never been contained herein or therein. If the
<br />lien of this Deed of Trust is invalid or unenforceable as to any part of the indebtedness hereby
<br />secured or evidenced by the Nate, or if the lien is invalid or unenforceable as to any part of the
<br />Property, the unsecured or partially secured portion of such indebtedness shall be completely
<br />paid prior to the payment of the remaining and secured or partially secured portion of such
<br />-5-
<br />
|