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~ ; : • ; DEED OF TRUST
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<br />necessary at any time for the protection of its interest or the enforcement of its rights shalt become a part of the Indebtedness payable
<br />pn demand and shall bear interest at the Note rate from the date of'the expenditure until repaid. Expenses covered by;this paragraph
<br />include, without limitation, however subject to any limits under applicable law, Lender's. attorneys' fees and Lender's legal expenses,
<br />whether or not there is a lawsuit, including attorneys' fees and expenses far bankruptcy proceedings (including efforts to modify pr
<br />vacate any automatic stay pr injunctipnl, appeals, and any anticipated post-judgment collection services, the cast of searching
<br />records, obtaining title reports (including foreclosure reportsl, surveyors' reports, and appraisal fees, title insurance, and fees for the
<br />Trustee, to the extent permitted by applicable law. Trustor also will pay any court costs, in addition to all other sums provided by
<br />law.
<br />Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
<br />POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Truster are part of this
<br />Deed of Trust:
<br />Powers of Trustee.' In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take the following
<br />actions with respect to the Property upon the written request of Lender and Trustor: la1 join in preparing and filing a map or plat of
<br />the Real Property, including the dedication pf streets or other rights to the public; Ib) join in granting any easement or creating any
<br />restriction on the Real Property; and Ic1 join in any subordination or other agreement affecting this Deed of Trust or the interest of
<br />Lender under this Deed of Trust.
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set
<br />forth above, with respect to all pr any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender
<br />shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable
<br />law,
<br />Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under
<br />this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of Hall County,
<br />State of Nebraska. The instrument shall contain, in addition to all other matters required by state law, the names of the original
<br />Lender, Trustee, and Truster, the book and page Ior computer system reference) where this Deed of Trust is recorded, and the name
<br />and address of the successor trustee, and the instrument shall be executed and acknowledged by all the beneficiaries under this Deed
<br />of Trust or their successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the title,
<br />power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This prpcedure for substitution of Trustee
<br />shall govern to the exclusion of all other provisiens for substitution.
<br />NOTICES. Any notice required to be given under this Desd of Trust, including without limitation any notice of default and any notice of
<br />sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise
<br />required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as
<br />first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning pf this Deed of Trust. All
<br />copies of notices of foreclosure from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address, as
<br />shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal
<br />written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Trustor
<br />agrees to keep Lender informed at all times of Trustor's current address. Unless otherwise provided or required by law, if there is more
<br />than one Trustor, any notice given by Lender to any Trustor is deemed to be notice given to all Trustors.
<br />MISCELLANEOUS PRQVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />Amendments. This Desd of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the
<br />parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Desd of Trust shall be effective unless
<br />given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment.
<br />Annual Reports. If the Property is used for purposes other than Trustor's residence, Trustor shall furnish to Lender, upon request, a
<br />certified statement of net operating income received from the Property during Trustar's previous fiscal year in such form and detail as
<br />Lender shall require. "Nat operating income" shall mean all cash receipts from the Property less all cash expenditures made in
<br />connectien with the operation of the Property.
<br />Caption Headings. Caption headings in this Daad pf Trust are for convenience purposes only and are not to be used to interpret or
<br />define the provisions of this Dead of Trust.
<br />Merger. There shall ba no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the
<br />Property at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
<br />Governing Law. This peed of Trust will be governed by federal law applicable to Lender and, to the extent not preempted by federal
<br />law, the laws of the Stato of Nebraska without regard to Its conflicts of law provisions. This Deed of Trust has been accepted by
<br />Lender in the State of Nebraska.
<br />Choice of Venue. If .there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of Hall County,
<br />State pf Nebraska.
<br />No Waiver by Lender. Lender shall not ba deemed to have waived any rights under this Deed of Trust unless such waiver is given in
<br />writing and signed by Lender. No delay or omission on the part of Lander in exercising any right shall operate as a waiver of such
<br />right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's
<br />right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by
<br />Lender, nor any course of dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights yr of any of
<br />Trustor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed pf Trust, the granting
<br />of such consent by Lander in any instance shall not constitute continuing consent to subsequent instances where such consent is
<br />required and in all cases such consent may be granted or withheld in the sole discretion of Lander.
<br />Severabillty. If a court of competent jurisdiction finds any provision pf this Deed of Trust to be illegal, invalid, or unenforceable as to
<br />any circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If
<br />feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending
<br />provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the
<br />illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of
<br />any other provision of this Desd of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Dead of Trust on transfer of Trustar's interest, this Deed of Trust
<br />shall be binding upon and inure to the b9nsfit of the parties, their successors and assigns. If ownership of the Property becomes
<br />vested in a person other than Trustor, Lender, without notice to Trustor, may deal vvith. Trg~s~pr.;~,,,~f,1~~5,~pr~..,~.itlt-reference to this
<br />Deed of Trust and the Indebtedness by way of forbearance or extension without!rekeasinq~Trustmr•'from the,.;~bligations of this Deed of
<br />Trust pr liability under the Indebtedness. ~ _~.'• ~
<br />Time is of the Essence. Time is of the essence in the parfprmance of this Deed of ,~r;.q„~t: .._.,.„: ,.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following capitalized vyords and terms shall have the following meanings when used in this Deed of Trust. Unless
<br />specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America.
<br />Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require:Words
<br />and terms not otherwise defined in this Deed of Trust shall have the meanings attribu[ed to such terms in the Unifprm Ciimmarcial Code:
<br />Beneflclary. The word "Beneficiary" means Platte Valley State Bank & Trust Company, and its successors and assigns.,
<br />Borrower. The word "Borrower" means Donald E. Davis and includes all co-signers and co-makers signing the Note and all their
<br />successors and assigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without
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