|
<br />
<br />
<br /> DEED OF TRUST 2 0 1 0 0 7 9 6 4
<br /> (Continued) Page 5
<br />
<br /> necessary at any time for the protection 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 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 for bankruptcy proceedings (including efforts to modify or
<br /> vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching
<br /> records, obtaining title reports (including foreclosure reports), 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 Trustee 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; (a) join in preparing and filing a map or plat of
<br /> the Real Property, including the dedication of streets or other rights to the public; (b) join 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 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 or 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 Trustor, 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 procedure for substitution of Trustee
<br /> shall govern to the exclusion of all other provisions for substitution.
<br /> NOTICES. Any notice required to be given under this Deed 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 of 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 PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust;
<br /> Amendments. This Deed 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 Deed 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 Trustor's previous fiscal year in such form and detail as
<br /> Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in
<br /> connection with the operation of the Property.
<br /> Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or
<br /> define the provisions of this Deed of Trust.
<br /> Merger. There shall be 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 Deed 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 State 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, Truster agrees upon Lender's request to submit to the jurisdiction of the courts of Hall County,
<br /> State of Nebraska,
<br /> Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint and several, and all references to Trustor
<br /> shall mean each and every Trustor. This means that each Trustor signing below is responsible for all obligations in this Deed of 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 Lender. No delay or omission 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 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 or of any of
<br /> Trustor's obligations as to any future transactions. Whenever the consent of lender is required under this Deed of Trust, the granting
<br /> of such consent by Lender 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 Lender.
<br /> Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to
<br /> any person or circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other person
<br /> or circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If
<br /> the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by
<br /> law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shalt not affect the legality, validity or
<br /> enforceability of any other provision of this Deed of Trust.
<br /> Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Deed of Trust
<br /> shall be binding upon and inure to the benefit 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 with Trustor's successors with reference to this
<br /> Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of
<br /> Trust or liability under the Indebtedness.
<br /> Time is of the Essence. Time is of the essence in the performance of this Deed of Trust,
<br /> n~rnnhwwwrren..
<br /> Waiver of Homestead Exemption. Trustor hereby releases and waives all right 'kfnflf~°.`ofiC.kfir3'tl~aaxe tion laws of the
<br /> State of Nebraska as to all Indebtedness secured by this Deed'of Trust. A fit9l.t: WFtr lAA
<br /> DEFINITIONS. The following capitalized words and terms shall have the followin ff. I nA , r ZL" 7t,D'eed,bf 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 attributed to such terms in the Uniform Commercial Code:
<br /> Beneficiary. The word "Beneficiary" means Platte Valley State Bank & Trust Company, and its successors and assigns,
<br /> Borrower. The word "Borrower" means Gary E, Valasek and Mary G. Valasek and includes all co-signers and co-makers signing the
<br />
|