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"~~'~,ir".~ 200909847 SUBSTITUTE TRUSTEE. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. JOINT AND SEVERAL LIABILITY. If this Security Instrument should be signed by more than one person, all persons executing this Security Instrument agree that they shall be jointly and severally bound, where permitted by law. SURVIVAL. Lender's rights in this Security Instrument will continue in its successors and assigns. This Security Instrument is binding on all heirs, executors, administrators, assigns and successors of Grantor. NOTICES AND WAIVER OF NOTICE. Unless otherwise required by applicable law, any notice or demand given by Lender to any party is considered effective when it is deposited in the United States Mail with the appropriate postage. A copy of any notice shall be mailed to each party at the address of the party given at the beginning of this Security Instrument unless an alternative address has been provided to Lender in writing. To the extent permitted by law, Grantor waives notice of Lender's acceptance of this_ Security Instrument~defenses_based pn suretyship, any defense ansing from any election by Lender under the United States Bankruptcy Code, Uniform Commercial Code, as enacted in the state where Lender is located or other applicable law or in equity, demand, notice of acceleration, notice of nonpayment, presentment, protest, notice of dishonor and any other notice. REQUEST FOR NOTICES: Grantor requests that copies of the notice of default and notice of sale be sent to the address of each party given at the beginning of the Security Instrument. TO THE EXTENT PERMITTED BY LAW, GRANTOR WANES ANY RIGHT TO NOTICE, OTHER THAN THE NOTICE PROVIDED ABOVE, AND WAIVES ANY RIGHT TO ANY HEARING, JUDICIAL OR OTHERWISE, PRIOR TO LENDER EXERCISING ITS RIGHTS UNDER TffiS SECURITY INSTRUMENT. WAIVER OF APPRAISEMENT RIGHTS. Grantor waives all appraisement rights relating to the Property to the extent permitted by law. WAIVER OF HOMESTEAD EXEMPTION RIGHTS. Grantor and all other signatories to this Security Instrument, to the extent each possesses homestead exemption rights in the Property, hereby waive all homestead exemption rights relating to the Property to the extent permitted by law. LENDER'S EXPENSES. Grantor agrees to pay all expenses incurred by Lender in connection with enforcement of its rights under the Indebtedness, this Security Instrument or in the event Lender is made party to any litigation because of the existence of the Indebtedness or this Security Instrument, as well as court costs, collection charges and reasonable attorneys' fees and disbursements. ASSIGNABILITY. Lender may assign or otherwise transfer this Security Instrument or any of Lender's rights under this Security Instrument without notice to Grantor. Grantor may not assign this Security Instrument or any part of the Security Instrument without the express written consent of Lender. GOVERNING LAW AND JURISDICTION. This Security Instrument will be governed by the laws of the State of Nebraska. SEVERABILITY. If a court of competent jurisdiction determines any term or provision of this Security Instrument is invalid ar prohibited by applicable law, that term or provision will be ineffective to the extent required. Any term or provision that has been determined to be invalid ar prohibited will be severed from the rest of the Security Instrument without invalidating the remainder of either the affected provision or this Security Instrument. UNIFORM COMMERCIAL CODE (iJ.C.C.) Grantor agrees that this Security Instrument shall suffice as; a financing statement and may therefore be filed of record as a financing statement for the purposes of Article 9 of the Uniform Commercial Code. Grantor authorizes Lender to isle any fmancing statements required under the Uniform Commercial Code. ENTIRE AGREEMENT OF THE PARTIES. This agreement, including all agreements referred to or incorporated into this agreement, constitutes the entire agreement between the parties relating to the subject matter of this agreement. This agreement supersedes all prior oral or written agreements, commitments and understandings between the parties relating to the subject matter of this agreement and cannot be changed or terminated orally, and shall be deemed effective as of the date noted above. ADDITIONAL PROVISIONS. Trustor is prohibited from encumbering, selliug, assigning, or otherwise conveying its interest in water rights that may now, or at any time in the future, be used in connection with the real property without receiving prior written consent from the Beneficiary. Trustor covenants to fully -.. . utilize all water rights ,that, may now, or.~t .any time in the -future, be used rn connection with the real property while the Commerical Real Estate Security Instrument is in effect in order to minimize the risk of abandonment of such water rights O 20042009 Compliance Systems, lnc. 09847549 - 2009. D4.57 Commercial steal Heta[e Security Inbtrumen[ - I)LA007 Paga 5 of 6 www.compGaneesyeteim.aom