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<br />other default.
<br />13. Assignment of Rents including Proceeds of Mineral Leases. Trustor(s) hereby assigns, transfers,
<br />and conveys to Beneficiary all rents, royalties, bonuses, and delay moneys or other proceeds that may
<br />from time to time become due and payable under any real estat� lease or under any oil, gas, gravel,
<br />rock, or other mineral lease of any kind including geothermal resources now existing or that may
<br />hereafter come into existence, covering the property or any part thereof. All such sums so received by
<br />Beneficiary will be applied to the indebtedness secured hereby; or Beneficiary, at its option, may turn
<br />over and defiver to Trustor(s) or their successors in interest, any or all of sucli sums without prejudice to
<br />any of Seneficiary's rights to take and retain future sums., and without prejudice to any of its other rights
<br />under this Trust Deed. This assignment.will be construed to be a provision for the payment or reduetion
<br />of the debt, subject to the Beneficiary's option as hereinbefore provided, independent of the lien on the
<br />property. Upon payment in full of the debt and the reconveyance of this Trust Deed of record, this
<br />assignment will become inoperative and of no further force and effect.
<br />14. This Trust Deed constitutes a Security Agreement with respect to all the property described herein.
<br />15. The covenants contained in this 7rust Deed will be deemed to be severable; in the event that any
<br />portion of this Trust Deed is determined to be void or unenforceable, that determination will not affect
<br />the validity of the remaining portions of the Trust Deed.
<br />powers conferred upon it by this Trust Deed or state law.
<br />12, The integrity and responsibility of Trustor(s) constitutes a part of the consideration for the
<br />obligations secured hereby. Should Trustor(s) sell, transfer, or convey the property described herein,
<br />without prior written consent of Beneficiary, Beneficiary, at its option, may declare the entire
<br />indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any
<br />at the option of the Beneficiary, may foreclose the Trust Deed in the manner provided by law for the
<br />foreclosure of mortgages on real property, including the appointment of a Receiver upon ex parte
<br />application, notice being hereby expressly waived, without regard to the value of the property or the
<br />su�ciency the�eof to discharge the indebtedness secured hereby or in the {oan 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 specified default will not be construed as a waiver of any future default. If the
<br />proceeds under such saie or foreclosure are insufificient 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 to exercise the Power of Sale granted herein, Beneficiary will notify Trustee
<br />who wili record, pubiish, 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 1aw, se11 the property at the time and piace of sale
<br />fixed in the Notice of Sale, either as a whole or in separate lots, parcels, or items and in such orde� as
<br />Trustee will deem expedient. Any person may bid at the sale including Trustor(s), Trustee, or
<br />Beneficiary.
<br />9. Trustor(s) hereby requests a copy of any Notice of Default or Notice of Sale hereunder to be mailed
<br />by certified mail to Trustor(s) at the address(es) set fo�th herein.
<br />10. Upon default, 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 entitled to enter upon and take possession of the
<br />praperty in its own name or in the name of the Trustee and do any acts or expend any sums it deems
<br />necessary or desirable to protect or preserve the value of the property or any interest therein, or
<br />increase the income therefrom; and with or without taking possession of the property is authorized to
<br />sue for or otherwise collect the rents, issues, crops, profits, and income thereof, including those past
<br />due and unpaid, and apply the same upon any indebtedaess secured hereby or in the loan
<br />agreement(s). � <
<br />No remedy herein conferred upon or reserved tq Trustee or Beneficiary is intended to be exclusive of
<br />any other remedy herein or by law prov'ided or permitted, but each will be cumulative, will be in addition
<br />to every other remedy given he�eunder or now or hereafter existing at law or in equity or by statute, and
<br />may be exercised concurrently, independently or successively.
<br />11. Trustor(s) acknowledges that the duties and obligations of Trustee will be determined solely by the
<br />express provisions of this Trust Deed or the Nebraska Trust Deeds Act and Trustee will not be liable
<br />except for the pertormance of such duties and obligations as are specifical{y set forth therein, and no
<br />implied covenants or obligations will be imposed upon Trustee; Trustee will not be liable for any action
<br />by it in good faith and reasonably believed by it to be authorized or within the discretion or rights of
<br />�-
<br />Scott G Zersen
<br />DIVIDUAL BORROWER ACKNOWLEDGMENT
<br />STATE OF NEBRASKA )
<br />)ss
<br />COUNTY OF HALL )
<br />On this .�{� day of May, 2011 _ before me, a Notary Public, personally appeared
<br />Scott G Zersen, an unmarried person
<br />to me known to be the person(s) named in and who executed the forego�ng instrument, and
<br />acknowledged that he executed the same as his vo{untary aet and deed.
<br />�y�,p��_� p� �ebraska
<br />(SEAL) � Kq7��E$,$CHULTE
<br />� My Cpmm. Exp, May 23, 2013 .
<br />�c;e�l�.e �..� ;�,, Ia.,AS�s.e �
<br />Katherine S Schulte
<br />(Type name under signafure)
<br />My commission expires May 23, 2013 _ Notary Public in and for said County and State
<br />App #: 5068218; CIF #: 225285; Note #: 201 220KS Legal Doc. Date: May 12, 2011
<br />FORM 5011, Trust Deed and Assignment of Rents Page 3
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