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D�ED OF TRUST 2 O 1 Q O� 7 L G
<br />(Continued) Page 1Q
<br />the parties, and all mortgages, liens and security interasts securing such indebtedness and obligations, shall remain fully valid end
<br />anforceable.
<br />If South Dakata law governs the Dispute, the following provision is included:
<br />Real Praperty Collateral. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the Dispute
<br />conaerns indebtedness secured directly or indirec[ly, in whole or in part, by any real property unless (i) the holder of the mortgage, tien or
<br />security interest specifically elects in writing to proceed with the arbitration, or (ii) all partie5 to the arbitration waive any rights or benefits
<br />that might accrue to them by virtue of the single action rule statute of South Dakpta, thereby agreeing that all indebtedness and obligations
<br />of the parties, and ell mortgages, liens and security interests securing such indebtedness and obligatians, shall remain fully valid and
<br />enforceable.
<br />If Utah law overns the Dis ute, the following provisian is included:
<br />Rea) Prpperty Collateral; Judicial Reference. Notwithstanding anything herein ta the contrary, no �ispute shall be submitted to arbitration if
<br />the Dispute concerns indebtedness secured direc[ly or indirectly, in whole or in part, by any real property unless (i) the holder of the
<br />mortgage, lien or security in#erest specifically elects in writing to proceed with the ar6itration, or (ii) all parties to the arbitration waive any
<br />rights or benefits that might accrue to them by virtue of the single action rule statute of Utah, thereby agreeing that all indebtedness and
<br />obligations of the parties, and all mortgages, liens and security interests securing such indebtadness and obligations, shall remain fully v�lid
<br />and enforceable. If any such Dispute is not submitted Co arbitration, the Dispute shall be referred to a master in accordance with Utah Rule
<br />nf Civil f'rocedure 53, and this general reference agreement is intended to be specifically enforceable. A master with the qualifications
<br />required herein for arbitrators shall be selected pursuant to the AAA's selection procedures. Judgmen# upon the decision rendered by a
<br />master shall be entered in tha court in which such proceeding was commenced in accardance with Utah Rule of Civil Procedure 53(e1.
<br />MISCELLANEOUS PROVI510NS. The fnllowing miscellanenus provisions are a part of this Deed of Trust:
<br />Amendments. This Deed of Trust, together with any Related Documents, canstitutes the entire understanding and agreement nf the
<br />parties as ta the matters set fprth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless
<br />given in writing and signed by the party or parties sought to be charged ar bpund by the alteratian or amendment.
<br />Annual Reports. If the Prpperty is used tor purppses other than Trustor's residence, 7rustar shall furnish to Lender, upon request, a
<br />certified statement of net aperating income received from the Proper#y during 7rustor's previous fiscat year in such form and detail as
<br />Lender shell require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in
<br />connection with the operation nf the Property.
<br />Caption Weadings. Caption headings in this Deed of Trust are for convenience purposes anly and are not to be usad to interpret ar
<br />define the provisions of this Deed of Trust.
<br />Merger. There shall be no merger of the interest or estate created by this Dsed of 7rust with any other interest or estate in the
<br />Property at any tima held by or for the benefit of Lender in any capacity, without the written consen# of Lender.
<br />Governing Law. Yhis Deed of Trust will be governed by federal I�w applicaqle ta Lender and, to the extent not preempted by federal
<br />law, the laws of the State of Nehraske without regard to its conHicts of law provisions. This Deed of Trust has bean accepted by
<br />Lender in the State of Nebraska.
<br />Joint end Several Liability. All obligations of Borrower and Trustor under this Deed of 7rust shall be join[ and several, and all
<br />references to Trustor shall mean each and evsry Trustor, and all refarences to Borrpwer shall mean each and every Borrower. 7his
<br />means that each Trustor signing below is responsible for all obligations in this Deed af Trust.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in
<br />writing and signed by Lander. No delay pr pmission on the part of Lender in exercising any right shall operate as a waiver of such
<br />right or any other right. A waiver by Lender of a prqvision 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 constituta a waiver of eny of Lender's rights or of any of
<br />Trus�or's abligations as to any future transactions. Wheneuer the cansent af Lender is required under this Deed of Trust, the granting
<br />of such consent by Lander in any instance shall no[ constitute continuing cansent to subsequent instances where such consent is
<br />requirad and in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br />Severability. If a court of competent jurisdiction finds any provisipn of this �eed of Trust to ba illegal, invalid, or unenforceable as to
<br />any person or circumstance, that finding shall not make the offending provision illegal, invalid, ar unenforceable as to any other person
<br />or circumstance. If feasible, the oftending provision shall be cansidered modified so that it hecomes legal, yalid and enforceable. If
<br />the offending provision cannat be so modifiad, it shall be considered deleted from this peed of Trust. Unless otherwise r�quired by
<br />law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the Isgality, validity or
<br />entorceability af any other provision of this Deed of Trust.
<br />Successors end Assigns. Subject to any limitatians stated in this peed of Trust on transfer of 7rustor's interest, this Deed of Trust
<br />shall be binding upon and inure to the benefit of the parties, their successars and assigns. If ownership qf the Property becomes
<br />vested in a person other than 7rustor, Lender, without notice [o Trustar, may deal with Trustar's successors with reference to this
<br />beed of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of
<br />Trust or Iiabili#y under the Indebtedness.
<br />Time is af the Essence. Time is of the essence in the performance of this peed ot Trust.
<br />Waiver of Homestead Exemption. ?'rustvr hereby releases and waives all rights and benefits of the homestead exemption laws ot the
<br />State of Nabraska as to all Indebtedness secured by this 17eed nf Trust.
<br />D��INITIONS. The following capi#alized words and terms shall have the following meanings when used in this Deed of Trust. Unless
<br />specifically stated ta the contrary, all references to dollar amounts shell mean amounts in lawful money of the United States of America.
<br />Words snd terms used in the singular shall include the plural, and tha 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 maanings attributed to such terms in the Uniform Commercial Code:
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