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2oioosio� <br />Trustor(s) hereby warrants that 7rustor(s) holds fee simple titl� to the above described property, that <br />Trustor(s) has good and lawful authority to deed and encumber the same, that the property is free and <br />clear of all liens and encumbrances, except encumbrances of recnrd, and that 7rustor(s) will warrant <br />and defend the property, at 7rustor(s) expense, against all claimants whomsoever. Trustor(s) also <br />hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and <br />to the abov� described property. <br />Trustor(s) and each of them further covenants and agrees with Beneficiary as follows: <br />1. To pay all liens, judgments, or oth�r assessments against the property, and to pay when due all <br />assessments, taxes, rents, fees, or charges upon the property or und�r any lease, permit, license, or <br />privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or on public <br />domain. <br />2. To insure and keep insured buildings and other improvements including fixtures and attachments <br />now on or hereafter placed on the property tn the satisfaction of Beneficiary, will on demand furnish <br />said policies or furnish proof of insurance to Benefici�ry. Any sums so received by Beneficiary may be <br />used to pay for recons#ruction of the destroyed impr�vements or if not so applied may be applied, at the <br />option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this 7rust <br />Deed. Such insurance will be in an amount at least equal to the lesser of the loan balance, the actual <br />cash value of the collateral, or the replacement cost of the prop�rty, and will at a minimum, cover losses <br />caused by fire, lightning, explosipn, riot, aircraft, vehicles, vandalism, civil commotinn, smoke, <br />windstorm, and hail. Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as <br />required by Ben�ficiary and by the National F'lood Insurance Act of 1968, as amend�d, and by <br />regula#ions implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable <br />for any failure by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insuranc� in <br />force. <br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on <br />the property occupied and in good repair, maintenance, and condition and to neither commit nor permit <br />any acts of waste or any impairment of the value of the prnperty. Beneficiary may enter upon the <br />property to inspect the same or to p�rform any acts authorized herein or in the credit agreement(s). <br />4. In the event Trustor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges <br />or maintain any insurance on the property, buildings, fixtures, attachments, or improvements as <br />provided herein or in the loan agre�ment(s), Beneficiary, at its option, may make such payments or <br />provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the <br />principal indebtedness secured hereby, be immediately due and payable and bear interest at the <br />d�fault rate provided in th� note(s) or credit agreement(s) fram the date of payment until paid. 7he <br />ad�arrcement by Benefieta�r of ar�y strch ampa�ts-wi+� in- pa rr�anner limit the �+ght of Beneficiary to <br />declare Trustor(s) in default or exercise any of Beneficiary's other rights and remedies. <br />5. In the euent Beneficiary is a party to any litigation affecting the property or the lien of this Trust <br />Deed, including any action by Beneficiary to enforce this Trust Deed or any suit in which Beneficiary is <br />named a defendant (including condemnation and bankruptcy proceedings) Beneficiary may incur <br />expenses and advance payments for abstract fees, attarneys fees (to the extent allow�d by law), costs, <br />expenses, appraisal f�es, and other charges and any amounts so advanced will become part of the <br />principal indebtedness secured hereby, be immediately du� and payable and bear interest at the <br />default rate provided in th� note(s) or credit agreement(s) from the da#e of advance until paid, <br />6. Any awards made to Trustor(s) or their successors by the exercise of eminent domain are hereby <br />assigned to Beneficiary; and Beneficiary is hereby authorized to collect and apply the same in payment <br />of any indebtedness, mature or unmatured, s�cured by this Trust Deed. <br />7. In the euent of default in the payment when due of any sums secured hereby (principal, interest, <br />advancements, or protective advances), or failure to perform or observe any covenants and conditions <br />contained herein, in the nqte(s), credit agreement(s), or any other instruments, or any proceedings is <br />brought under any Bankruptcy laws, Beneficiary, at its option, may declare the entire ind�btedness <br />secured hereby to be immediately due and payable and the whole will bear interest at the default rate <br />as provided in the note(s) or credit agreement(s) and Beneficiary may immediately authorize Trustee to <br />exercise the Power of Sale granted herein in the manner provided in the Nebraska ?"rust Deeds Act, or, <br />at the option of the Beneficiary, may fdreclose the 7rust Deed in the manner provided by law for the <br />foreclosure of mortgages on real prop�rty, including the appointment of a Receiver upon ex parte <br />applicatinn, notice being hereby expressly waived, withnut regard to the value of the property or the <br />sufficiency thereof to discharge the ind�btedness secured hereby or in the loan agreement(s). Delay by <br />Beneficiary in exercising its rights upon default will not be construed as a waiver thereof and any act of <br />Beneficiary waiving any specif+ed defaalt uvi�l not be constru�d as a waiver-�f any future de�ault. If the <br />proceeds under such sale or foreclnsure are insufficient to pay the total indebtedness secured hereby, <br />Trustor(s) do hereby agree to be personally bound to pay the unpaid balance, and Beneficiary will be <br />entitled to a deficiency judgment. <br />8. Should Beneficiary elect ta exercise the Power of Sale granted herein, B�neficiary will notify Trustee <br />who will record, publish, and deliver to Trustor(s) such Notice of Default and Notice of Sale as then <br />required by law and will in the manner provided by law, sell the property at the time and place of sale <br />fixed in the Notice of Sale, either as a whole or in separate lots, parcels, or items and in such order as <br />Trustee will deem expedient. Any p�rson may bid at the sale including Trustor(s), Truste�, or <br />Beneficiary. <br />9. 7rustor(s) hereby requests a copy af �ny Notice of nefault or Notice of Sale hereunder to be mailed <br />by certified mail to Trustor(s) at the address(es) set forth herein. <br />10. Upon d�fault, Beneficiary, either in person or by agent, with or without bringing any action or <br />proceeding and with or without regard to the value of the property or the sufficiency thereof to discharge <br />the indebtedness secured hereby, is authorized and en#itled to enter upon and take pos�ession of the <br />property in its own name or in the name of the Trustee and do any acts or expend any sums it deems <br />App #: 504D597; CI� #: 38540; Note #: 211 220KS l.egal Doc. Date: December 6, 2010 <br />FORM 5tl11, Trust Deed and Assignment of Rents F'age 2 <br />