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20�105223
<br />7. The proceeds of any condemnation award are hereby assigned and sha11 be paid to Lender and shall be
<br />applied to the sums secured by this Deed of Trust, whether or not then due, with any excess paid to
<br />Borrower.
<br />8. Borrowers shall not cause or permit the presence, use, disposal, storage, or release of any bazaxdous
<br />substances on the property (except that the storage of small quantities of consumer products that are
<br />generally recognized to be appropriate for maintenance of such a property). Borrowers shall not do, nor
<br />allow anyone else to do, an}�thing affecting the propert.y: (a) that is in violation of any Environmental Law,
<br />(b) which creates an envitonmental condition that adversely affects the property.
<br />9. Borrowers represent and warrant that there are no: (a) banlauptcy proceedings involving Borrowers and
<br />none is contemplated, (b) unsatisfied judgments or record against Borrowers, or (c) ta�c liens filed against
<br />Bonowers.
<br />10. Any extensions or modifications of the loan gra.nted by Lender to any successor in Interest of Borrowers
<br />shall not operate to release the liability of the original Borrowers or Borrowers, successors in interest. Any
<br />forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of
<br />any right or remedy.
<br />! 1. Any notice to Borrowers provided for in this Deed of Trust shall he given by delivering it or may mailing it
<br />by first class mail unless Nebraska law requires use of another method, at the Bonowers' last l�own
<br />address.
<br />12. This Deed of Trust, and the Note which it secures, shall be governed by Nebraska law.
<br />13. The failure to malce any payment when due under this Deed of Trust or the Note, or Borrowers' breach of
<br />any cavenant or agreement in this Deed of Trust shall be an event of default.
<br />14. Lender shall give notice to Borrowers following Borrowers' breach of any covenant or agreement in this
<br />Deed of Trust and the Note which it secures. The notice shall specify (a) the default, (b) the action required
<br />to cure the default, (c) a date not less than thirly (30) days from the date the notice is given to Bonowers by
<br />which the default must be cured, and (d) that failure to cure the default on or before the date specified in the
<br />notice may result in acceleration of the sum secured by this Deed of Trust and resale of the property. The
<br />notice shall further inform Borrowers of the right to reinstate, after acceleration, and the right to bring a
<br />Court action to assert the nonexistence of a default or any other defense of Borrowers to acceleration and
<br />sale. If default is not cured, on or before the date specified in the aotice, Lender, at its option, may require
<br />immediate payment in full of all sums secured by ttus Deed of Trust without further demand and may
<br />invoke the power of sale aud any other remedies permitted by Nebraska law. Lender shall be enritled to
<br />collect all expenses incurred in pursuing the remedies provided 'm this paragraph, including, but not lnnited
<br />to, reasonable attorney fees and costs of ritle evidence.
<br />15. If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of
<br />the property is located and shall mail copies of such notice in the manner prescribed by Nebraska law.
<br />Trustee shall give public notice of sale to the persons and in the manner prescribed by Nebraska law.
<br />Trustee, without demand on Borrowers, shall sell the property at public auction to the highest bidder at the
<br />time and place and under the terms designated in the notice of sale in one (1) or more parcels and in any
<br />order Trustee determines. Trustee may postpone sale of all or any parcel of the property by public
<br />annowncement at the time and place of any previously scheduled sale. Lender or its designee may purchase
<br />the property at any sa1e.
<br />Upon receipt of payment of the price bid, Trustee sha11 deliver to the purchaser Trustee's Deed conveying
<br />the property. The recitals in the Trustee's Deed shall be prima facie evidence of the truth of the statements
<br />made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the
<br />sale including, but not limited to, Trustee's fees as permitted by Nebraska law and reasonable attomey fees,
<br />(b) all sums expended under the terms of this Deed of Trust, if not repaid, together with the maximum
<br />interest permitted by law, (c) to all sums secured by this Deed of Trust; and (d) any excess to the person or
<br />persons legally entitled to it.
<br />16. Upon, accelerarion under Paragraph I S or abandonment of the property, Lender (in person, by agent or by
<br />judicially appointed receiver) shall be entitled to enter upon, t�.ke possession of and maaage the property
<br />and to collect the rents of the property, including those past due. Any rents collected by Lender or the
<br />receiver shall be applied first to payment of the costs of management of the property and collection of rents
<br />including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attomey fees, and
<br />then to the sums secured by this Deed of Tn�st.
<br />17. Upon payment of all sums as herein provided, Lender sha.11 direct Trustee to reconvey the properly and shall
<br />surrender this Deed of Trust and the Note secured. Trustee shall reconvey the properiy without warranty
<br />and without charge to the persons legally entitled to it.
<br />18. Lender, at its option, may from time to time remove Trnstee and appoint Successor Tn�stee by an
<br />instrument recorded the county in which this Deed of Trust is recorded. Without conveyance of the
<br />property, the successor Trustee shall succeed to all the ritle, power, and duties conferred upon Trustee
<br />herein and by Nebraska law.
<br />19. Borrowers request that copies of all notices provided herein be sent to Bonowers' address, which is 4234
<br />Arizona St, Grand Island ATE 68803.
<br />{1220422.1 }
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