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<br />be .given and.the premises be. sold as provided herein.
<br />., R~ As additional :and -Collateral security' for. the :,loan; ai'id effective
<br />• forthwith upbn•, tili:tig of a'Nbtice of Default, , tkiis instrument shall
<br />Ser.vE as .an .assignment by,,the TRUST,ORS to ,t he,TRUSTEE,'.of all rents
<br />and revenues resulting from the: property, and.TRLISTEE is authorized
<br />to take pbssession,of the property, rent or .l ease t'he same on terms
<br />he deems best and to collect the' rents 'and revenues and apply the
<br />same upon unpaid interest, principal, taxes or insurance premiums
<br />or for maintenance and preservation of the premises.
<br />T. .The waiver by TRUSTEE or BENEFICIARIES of any default of TRUSTORS
<br />under this Deed of Trust, 'pn ane occasion, shall, not be or be
<br />deemed to be a waiver of .any other or similar defaults .subsequently
<br />occurring..
<br />J. If title'to any part of the property herein shall be taken in
<br />condemnation proceedings, by right of eminent domain, or similar
<br />action, or shall be sold. under threat .of 'condemnation, all awards,
<br />.'damages and proceeds are hereby assigned and shall be paid to the
<br />BENEFICIARIES, who shall apply such payment,. or any part thereof,
<br />in their sole da.scretion, to the sum due at that time on this Deed
<br />of Trust and Trust Deed Note, with any balance above the amount due
<br />hereunder payable to the TRUSTORS.
<br />K. The BENEFICIARIES, their agents or representatives, are hereby
<br />authorized to enter, at any reasonable time, upon any part of the
<br />trust property for the purposes of inspecting the same and far the
<br />purpose of performing any of the acts they are authorized to
<br />perform under the terms of this Deed of Trust and other
<br />accompanying documents.
<br />L. This Deed of Trust and all accompanying documents are subject to,
<br />constructed and governed by the laws of the State of Nebraska for
<br />all purposes.
<br />M. In the event any one or more of the provisions contained in this
<br />Deed of Trust, Trust Deed Note,' or any other instrument given in
<br />connection with this transaction, shall for any reason be held to
<br />be ,invalid, illegal or unenforceable in any respect, such
<br />invalidity, illegality, or unenforceability shall, at the option of
<br />the BENEFICIARIES, not affect any other provisions of this Deed of
<br />Trust or Trust Deed Note, but this .Deed of Trust and Trust Deed
<br />Note shall, be construed as if such invalid, illegal or
<br />unenforceable provision had never been contained therein, it being
<br />the intention of the parties that the provisions of this. Deed of
<br />Trust are declared to be severable.
<br />N. TRUSTORS hereby waive their right to designate the property subject
<br />to this Deed of Trust as a homestead under Neb. Rev. Stet. §40-101
<br />(Reissue 1993).
<br />0. This Deed of Trust shall inure to and bind the heirs, devisees,
<br />personal representatives, successors and assigns of the parties
<br />hereto.
<br />The TRUSTORS request that a copy of any Notice of Default and of any
<br />Notice of Sale hereunder be mailed to them at the address herein set forth, or
<br />such other address as they may provide to the TRUSTEE and BENEFICIARIES.
<br />TRUSTORS acknowledge that as TRUSTORS, they understand that the document they
<br />are executing herein is a Deed of Trust and not a mortgage, and that the power
<br />of sale provided for in this Deed of Trust provides substantially different
<br />rights and obligations than a mortgage and in an event of default or breach of
<br />the obligations set forth herein, the TRUSTEE and the BENEFICIARIES may take
<br />such action as herein provided, including the exercise of the power of sale.
<br />Either party may terminate this Deed of Trust upon thirty (30) days
<br />written notice without penalty, at which time the entire unpaid principal
<br />balance, together with any unpaid accrued interest, shall be due and payable.
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