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<br />20i0053S4
<br />D. Procure and maintain policies of insurance against the usual hazards of fire, hail,
<br />windstorm and other similar risks, in sums and underwritten by companies
<br />acceptable to the Beneficiary, with lass payable to the parties as their interest
<br />may appear and, if requested, deliver copies of such policies to said Beneficiary.
<br />4. DEFAULT: Trustor covenants and agrees that failure to make payment, either
<br />principal or interest, on the note or contract secured hereby when due and payable, or failure to
<br />comply with any of the covenants and agreements herein, shall cause the whole sum of money
<br />hereby secured to become due and collectible at once, at the option of the Beneficiary, and the
<br />Beneficiary shall have the right to cause Notice of Default to be given and the premises to be sold
<br />as provided herein.
<br />5. It is mutually agreed that:
<br />A. TRUSTEE'S ORDINARY DUTIES: At any time and from time to time, upon
<br />written request of the Beneficiary, payment of fees and presentation of this Deed of
<br />Trust and the Note for endorsement (in case of full reconveyance, for cancellation and
<br />retention), without affecting the liability of any person for the payment of the
<br />indebtedness, Trustee shall (a) consent to the making of any map or plat of said
<br />property, (b) join in granting any easement or creating any restriction thereon; (c) join in
<br />any subordination or other agreement affecting this Deed of Trust or the lien or charge
<br />thereof, (d) reconvey, without warranty, all or any part of said property.
<br />B. RECONVEYANCE: When the obligation secured by this Trust Deed has been
<br />satisfied, the Trustee shall, upon written request by the Beneficiary, reconvey the trust
<br />property; The Grantee in any reconveyance shall be the Trustor or the Trustor's
<br />successor in interest. The Beneficiary shall deliver to the Trustor the Deed of Trust and
<br />the Promissory Note ar contract shown as satisfied and paid in full. In the event the
<br />Beneficiary improperly refuses to request a reconveyance from the Trustee, the Trustor
<br />shall have the rights and remedies as set forth in Section 76-1014 of the Nebraska
<br />statutes as the same are constituted at the time this Deed of Trust is executed.
<br />C. DEFAULT AND DEFICIENCY JUDGMENT PROCEDURE: Upon default by
<br />Trustor in the payment of any indebtedness secured hereby or in the performance of any
<br />agreement hereunder, the Beneficiary may declare all sums secured hereby immediately
<br />due and payable by delivery to Trustee of written declaration of default. If the
<br />Beneficiary desires said property to be sold, the Beneficiary shall deposit with the
<br />Trustee this Deed of Trust and all promissory notes and documents evidencing
<br />expenditures secured hereby, and shall deliver to the Trustee a written notice of default
<br />and election to cause said property to be sold in the form required by law. The Trustee
<br />may then file notice of default and election to sell with notice to Trustee and other
<br />interested parties. In the case of notice of default and election to sell, the procedure
<br />shall be as follows:
<br />(1) After the lapse of such time as any be required by law following the recordation of
<br />said notice of default, and notice of default and notice of sale having been given as
<br />required by law, Trustee, without demand on Trustor, shall sell said property an the
<br />date and at the time and place designated in said notice of sale, at public auction, to
<br />the highest bidder, the purchase price to be payable in lawful money of the United
<br />States at the time of sale. The person conducting the sale may, for any cause he
<br />deems expedient, postpone the sale from time to time until it shall be completed,
<br />and, in every case, notice of postponement shall be given by public declaration
<br />thereof by such person at the time and place last appointed for the sale; provided, if
<br />the sale is postponed for longer then one business day beyond the day designated in
<br />the notice of sale, notice thereof shall be given in the same manner as the original
<br />notice of sale. The Trustee shall execute and deliver to the purchaser the Trustee's
<br />Deed conveying said property so sold, but without any covenant or warranty,
<br />express or implied. The recitals in the Deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof Any person, including the Beneficiary,
<br />may purchase at the sale.
<br />CURTIS A. SIKYTA
<br />ATTORNEY AT LAW
<br />N 15757
<br />ORD, NEBRASKA 88882.0128
<br />308-728.3839
<br />SPALDING, NE 88885
<br />308.497-2708
<br />Trust Deed
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