|
DEED OF TRUST
<br />Loan No: 1222 'io. `"'�� (Continued) � 010 U'7 E J 2 Pa s
<br />to time and as otten as may be deemed expadient by Trustee or Lender, and either of them may pursue inconsistent remedies.
<br />Nothing in this Deed of Trust shall be consirued as prohibiting Lender from seeking a deficiency judgment against the Trustor to the
<br />extent such action is permitted by law.
<br />Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone or together. If Lender
<br />decides to spend money or to perform any of Trustor's obligations under this Deed of Trust, after Trustor's failure to do so, that
<br />decislon by Lender will not affect Lender's right to declare Trustor in default and ta exercise l.ender's remadies.
<br />Request for Nptice. Trustor, on behalf of Trustor and l.ender, hereby requests that a copy of any Notice of Default and a copy of any
<br />Notice of Sale under this Deed of Trust be mailed to them at the addresses sat forth in the first paragraph of this Deed of Trust.
<br />Attorneys' Fees; Expensas. If Lender institutas any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be
<br />entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any
<br />court action ia involved, and to the extent not prohibited by law, all reasona6le expenses Lender incurs that in Lender's opinion are
<br />necessary at any time for the protectipn of its interest or the enforcement of its rights shall become a part of the Indebtedness payable
<br />on demand and shall bear interest at the Note rate from the date of the axpenditure until repaid. Expanses covered by this paragraph
<br />include, withput 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 for bankruptcy proceedings (including efforts tn modify or
<br />vacate any automatic stay or injunetionl, appeals, and any anticipated post-judgment collection services, the CpSt pf searchin�
<br />records, obtaining title reparts (including foreclosure reportsl, surveyors' reports, and appraisal fees, title insurance, and fees for the
<br />Trustee, to the extent permitted by applicable law. 7rustor also will pay any court costs, in addition to all other sums provided by
<br />law.
<br />Riahts of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
<br />PQWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this
<br />Deed of Trust:
<br />Powers of Trustes. In addition to all powers of Trustee arising as a matter of law, Trus[ee shall hava the power to take the following
<br />actions with respect to the Proparty upon the written request pf Lender and Trustor: (a) join in preparing and filing a map or plat of
<br />the Real Property, including the dedication nf straats or other rights to the public; (b) jain in granting any easement or creating any
<br />restriction on the Real Property; and (c) join in any subordination or other agreement affecting this Deed of Trust or the interest of
<br />Lender under this Deed of 7rust.
<br />Trustee. Trustea shall mest all qualifications required for Trustee under applicable law. In addition to the rights and remedies sat
<br />fvrth above, with respect to all or eny part of the Property, the Trustae shall have the right to foreclpsa by notice and sale, and Lender
<br />will hava the right to foreclose by judicial fpraclosure, in either case in accordance with and to ihe 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 exacuted and acknowledged by Lender and recorded in the office of the recorder of Hall County,
<br />5tate 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 7rustor, the book and page (or computer system reference) where this Deed of Trust is racorded, and the name
<br />and address of the successor trustee, and the instrument shall be execu[ed and acknowledged by all the beneficiaries under this Deed
<br />of Trust or their successprs in interest. The successor trustae, without conveyance of the Property, shall succaed to all the ti[le,
<br />power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of 7rustee
<br />shall govern to the exclusion of all other prpvisipns fvr substitution.
<br />NOTICES. Any notice required to be given under this Deed qf Trust, including without limitation any notice of default and any notice of
<br />sale shall be given in writing, and shall be effactl�e vehen actuslly deliV�[ed .wh�n actually raceived by telefacsimile (unlass otherwise
<br />required by law►, when deposited with a nationally recognfzed overnight courier, or, if mailed, when deppsit�d in the United States mail, as
<br />first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of l'rust. All
<br />cppies of notices of foreclosure from the holder qf any lien which has priority over this Deed of Trust shall be sen[ to Lender's address, as
<br />shown near the beginning of this Deed of 7rust. Any person may change his or her address for notices under this [7eed of Trust by giving
<br />formal written nqtice to the other person pr persons, specifying that the purpose of the notice is to change the person's address. For
<br />notice purposes, Trustor agrees to keep Lender infarmed at all times of Trustor's current address. Unless otherwise prqvided or required
<br />by law, if there is more than pne Trustor, any notice given by Lender to any Trustor is deemed to be nptice given to all Trustors. It will be
<br />Trustor's responsibility to tell the others pf the notice from Lender.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />Amendments. What is written in this Deed of Trust and in the Related Documents is Trustvr's entire agreement with 1.ender
<br />concerning the matters covered by this Deed of Trust. To be effective, any change or amendment tv this Deed of Trust must be in
<br />writing and must ba signed by whoever will 6e bound or obligatad by the change pr amendment.
<br />Arbitration. Trustor and Lender agree that all disputes, claims and controversias between us whether individual, joint, or class in
<br />natura, arising from this paad of Trust or otherwise, including without limitation aqntrpct and tort disputes, shall be arbitrated
<br />pursuant to the Rules of the American Arbitration Association in effect at the time the claim is filed, upon request of eithpr party. No
<br />act to take or dispose of any Property shall constitute a waiver of this arbitration agreement or be prvhibited by this arbitration
<br />agreement. This includes, without limitation, obtaining injunctiva relief or a temporary rastraining order; invoking a power of sale
<br />under any daed of trust pr mortgage; obtaining a writ of attachment Qr imposition of a receivar; or exercising any rights relating to
<br />personal property, including taking or disposing of such prpperty with or withput judicial process pursuant tv Article 9 of the Unifvrm
<br />Commercial Code. Any disputes, claims, or controversies concerning the lawfulness or reasonableness of any act, or exercise of any
<br />right, cancerning any Property, including any claim to rescind, reform, nr atherwise modify any agreement relating tp tha Property,
<br />shall also be arbitrated, provided however that no arbitrator shall have the right vr the power to enJoin pr restrain any act of any party,
<br />Judgment upon any award rendered by �ny arbitrator may be entered in any court having jurisdiction. Nothing in this Deed of Trust
<br />shall preclude any party from seeking aquitable relief from a cqurt of competent jurisdictian. 7he statute af limitations, estoppel,
<br />waiver, laches, and similar doctrines which wpuld otherwise 6e appliceble in an action brought by a party shall pe applicable in any
<br />arbitratian proceeding, and tha commencement pf an arbitration proceeding shall be deemed the cpmmencement of an action fvr thasa
<br />purposes. The Federal Ar6itration Act shall apply to the construction, interpretetion, and anforcement of this arbitration provision.
<br />Caption Haadings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or
<br />define the provisipna of this peed of Trust.
<br />Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any ather interest or estate in tha
<br />Prpperty at any time held by or fqr the benefit of Lender in any capacity, without the written consent of Lender.
<br />Governing Law. This Daed of Trust will be governed by federal law applicable to Lender and, to the extant not preempted by fsder�l
<br />law, the laws of the 5tate of Nebraska without regard to its conflicts of law prpvisions. This Deed of Trust has been accepted 6y
<br />Lender in the State of Nebraska.
<br />Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint and aeveral, and all references tp Trustar
<br />shall mean each and every Trustor. 7his means that each Trustor signing below is responsible for all obligatiqns in this Deed of Trust.
<br />NP Waiver by Lender. Trustpr understands Lender will not give up any of Lender's rights under this Deed pf Trust unless Lender does
<br />so in writing. 7he fact thai Lender delays or omits to exercise any right will not mean that Lender has given up that right. If Lander
<br />does agree in writing to give up one of Lender's rights, that does not mean Trustor will not have to comply with the other provisinns
<br />of this Deed of Trust. Trustor also understands that if l.ender does consent ta a request, that does not mean that 7rustor will not
<br />have ta get �ender's consent again if the situation happens again. Trustor further understands that just because Lender consents to
<br />one ar more of Trustor's requests, that does npt mean Lender will be required to consent to any of Trustor's future requests. Trustor
<br />waives presentment, demand for payment, protest, and notice of dishonor.
<br />Severability. If a court finds that any provision of this Deed of Trust is not valid or should npt be anforced, that fact by itself will not
<br />mean that the rast of this Deed of Trust will not be valid or enforced. Therefore, a court will enforce the rest of the pravisions of this
<br />
|