|
.
<br />.� ` . „ DEED OF TRUST
<br />� Loan No: 127201 (Continued)
<br />2011U4141
<br />Page 5
<br />law provided or permitted, but each shall be cumulative end shall be in addition to every other remedy given in this Deed of Trust or
<br />now or hereafter existing at law or in equity or by statute. Every power or remedy given by the Note or any of the Related Documents
<br />to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised, concurrently or independently, from time
<br />to time and as often as may be deemed expedient by Trustee or Lender, and either of them may pursua inconsistent remedies.
<br />Nothing in this Deed of Trust shell be construed as prohibiting Lender from seeking a deficiency judgment against the Trustor to the
<br />extent such action is permitted by lew.
<br />Election of Remedies. All of Lender's rights and remedies will be cumulative end may ba exercised elone 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 feilure to do so, that
<br />decision by Lender will not affect Lender's right to declare Trustor in default and to exercise Lender's remedies.
<br />Request for Notice. Trustor, on behelf of Trustor and Lender, hereby requests that a copy of any Notice of Default and a copy of any
<br />Notice af Sale under this Deed of Trust be mailed to them et the addresses set forth in the first paragraph of this Deed of Trust.
<br />Attorneys' Feas; Expenses. If Lender institutes 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 eny appeal. Whethar or not any
<br />court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are
<br />necessery 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 rete 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 ettorneys' 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 />lew.
<br />Rights of Trustee. Trustee shall have ail 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 ta 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 ihe written request of Lender and Trustor: (a) join in preparing and filing e map or plat of
<br />the Real Property, including the dedication of streets or other rights to the public; Ib) 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 eddition 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 />will have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by appiicable
<br />law.
<br />Successor Trustee. Lender, at Lender's option, may from time to time appoint e 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 racorder of Hall County,
<br />State of Nebraska. The instrument shell contein, in addition to all other matters required by state law, the nemes of the originai
<br />Lender, Trustee, end Trustor, the book and page (or 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 acknowledgad 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 lew. 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 limitetion 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 national�y recognized overnight courier, or, if mailed, when deposited in the United States maii, 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 eny lien which has priority over this Deed of Trust shall be sent to Lender's address, as
<br />shown near the beginning of this Daed of Trust. Any person may change his or her address for notices under this Deed of Trust by giving
<br />formal written notice to the other person or persons, specifying that the purpose of the notice is to change the person's address. For
<br />notice purposes, Trustor agrees to keep Lender informed at all times of Trustor's current address. Unless otherwise provided or required
<br />by law, if there is more than one Trustor, any notice given by Lender to any Trustor is deemed to be notice given to all Trustors. It wili be
<br />Trustor's responsibility to tell the others of 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 Trustor's entire agreement with Lender
<br />concerning the matters covered by this Deed of Trust. To be effective, any change or amendment to this Deed of Trust must be in
<br />writing and must be signed by whoever will be bound or obligated by the change or amendment.
<br />Arbitration. Trustor end Lender agree that all disputes, claims and controversies betwaen us whether individual, joint, or class in
<br />nature, arising from this Deed of Trust or otherwise, including without limitation contract and toR disputes, shall be arbitrated
<br />pursuant to the Rules of the American Arbirtration Association in effect at the time tha claim is filed, upon request of either party. No
<br />act to take or dispose of eny Property shall constitute a waiver of this arbitration agreement or be prohibited by this arbitretion
<br />egreement. This lncludes, without limitation, obtafning injunctive relief or a temporary restraining order; invoking a power of sale
<br />under any deed of trust or mortgage; obtaining a writ of attachment or imposition of a receiver; or exercising any rights relating to
<br />personal property, including taking or disposing of such property with or without judicial process pursuant to Article 9 of the Uniform
<br />Commercial Code. Any disputes, claims, or controversies concerning the lawfulness or reasonableness of any ect, or exercise of any
<br />right, concerning any Property, including any claim to rescind, reform, or otherwise mod'ify any agreement relating to the Property,
<br />shall also be arbitrated, provided however that no arbitrator shall have the right or the power to enjoin or rest�ain any act of any party.
<br />Judgment upon any award render�d by any arbitrator may be entared in any court having jurisdiction. Nothing in this Deed of Trust
<br />shall preclude any party from seeking equitabla relief from a court of competent jurisdiction. The statute of limitations, estoppel,
<br />waiver, laches, and similar doctrines which would otherwise be applicable in an action brought by a party shall be epplicable in any
<br />arbitration proceeding, and the commencement of an arbitretion proceeding shall be deemed the commencement of an action for these
<br />purposes. The Federal Arbitration Act shall apply to the construction, interpretation, and enforcement of this arbitration provision.
<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 eny 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 appliceble to Lender and, to the extent not preempted by federal
<br />law, the laws of the State of Nebreska without regard to its conflicts of law provisions. This Deed of Trust has been accepted by
<br />Lender in the State of Nebraske.
<br />No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under this Deed of Trust unless Lender does
<br />so in writing. The fact that Lender delays or omits to exercise any right will not mean that Lender has given up that right. If Lender
<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 provisions
<br />of this Deed of Trust. Trustor also understands that if Lender does consent to a request, that does not mean that Trustor will not
<br />heve to get Lender's consent again if the situation happens egain. Trustor further understands that just because Lender consents to
<br />one or more of Trustor's requests, that does not mean Lender will be required to consent to any of Trustor's future requests. Trustor
<br />waives presentment, demend for payment, protest, end notice of dishonor.
<br />S�verability. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that fact by itself will not
<br />
|