|
DEED OF TRUST 2 01 � 0 5 81 �
<br />(Continued) Page s
<br />and filing a map or plat of the Real Property, including the dedication of streets or other rights to the public; (b) join in
<br />granting any easement or creating any restriction on the Real Property; and (c) join in any subordination or other
<br />agreement affecting this Deed of Trust or the interest of 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
<br />remedies set forth above, with respect to all or any part of the Property, the Trustee shall have the right to foreclose by
<br />notice and sale, and Lender shall have the right to for�lose by judicial foreclosure, in either case in accordance with and
<br />to the full extent provided by applicable law.
<br />Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee
<br />appointed under this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office
<br />of the recorder of HALL County, State of Nebraska. The instrument shall contain, in addition to all other matters required
<br />by state law, the names of the originai Lender, Trustee, and Trustor, the book and page (or computer system reference)
<br />where this Deed of Trust is recorded, and the name and address of the successor trvstee, and the instrument shall be
<br />executed and acknowledged by all the beneficiaries under this Deed of Trust or their successors in interest. The
<br />successor trustee, without conveyance of the Property, shall succeed to all the fi�e, power, and duties conferred upon
<br />the Trustee in this Deed of Trust and by applicable law. This pr�edure for substituution of Trustee shall govem to the
<br />exclusion of all other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Deed of Trust, including without limita�on any not�ce of default and any
<br />notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile
<br />(unless otherwise required by law), when deposited with a nationally recognized ovemight courier, or, if mailed, when
<br />deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses
<br />shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of any lien which has
<br />priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning of this Deed of Trust. Any
<br />party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties,
<br />specifying that the purpose of the notice is to change the party's address. For notice purposes, Trustor agrees to keep
<br />Lender informed at all times of Trustor's current address. Unless otherwise provided or required by law, 'rf there is more than
<br />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
<br />agreement of the parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of
<br />Trust shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the
<br />alteration or amendment.
<br />Annual Reports. If the Property is used for purposes other than Trustor's residence, Trustor shall fumish to Lender,
<br />upon request, a certified statement of net operating income received from the Property during Trustor's previous fiscal
<br />year in such form and detail as Lender shall require. °Net operatlng income° shall mean all cash receipts from the
<br />Property less all cash expenditures made in 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
<br />interpret or 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
<br />in the Property at any time held by or for the benefit of Lender in any capaciry, without the written consent of Lender.
<br />Governing Law. This Deed of Trust wlll be governed by federal law applicable to Lender and, to the extent not
<br />preempted py federal law, the laws ot the State of Nebraska without r�ard to fts conflicts of law provisions. Thls
<br />�eed �4 Trus4 i�a� b�n ac�pt� tsy 6�ender in th� Stat� �� Wmbrasica. I
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lend�r's request to submit to the jurisdiction of the courts of
<br />Buffalo County, State of Nebraska:
<br />Joint and Several Liabtlity. All obligations of Trustor under this Deed of Trust shall be joint and several, and all
<br />references to Trustor shall mean each and every Trustor. This means that each Trustor signing below is responsible for
<br />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
<br />waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall
<br />operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not
<br />prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other
<br />provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing beiween Lender and Trustor, shall
<br />constitute a waiver of any of Lender's rights or of any of Trustor's obligations as to any future transactions. Whenever the
<br />consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instance shall not
<br />constitute continuing consent to subsequent instances where such consent is required and in all cases such consent
<br />may be granted or withheld in the sole discretion of Lender.
<br />Severabllity. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or
<br />unenforceable as to any person or circumstance, that finding shall not make the offending provision illegal, invalid, or
<br />unenforceable as to any other person or circumstance. If feasible, the offending provision shall be considered modified
<br />so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, ft shall be considered
<br />deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any
<br />provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of
<br />Trust.
<br />Suc�essors and Ass(gns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this
<br />Deed of Trust shall be binding upon and inure to the benefd of the parties, their successors and assigns. If ownership of
<br />the Property becomes vested in a person other than Trustor, Lender, without notice to Trustor, may deal with Trustor's
<br />successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without
<br />releasing Trustor from tYie obligations of this Deed of Trust or Iiabili4�r under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waive Jury. All partles to this Dced of Trust hereby walve the right to any jury trlal In any action, proc�eding, or
<br />counterclalm brought by any party agalnst any other party.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all •rights and benefits of the homestead
<br />exemption laws of the State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust.
<br />Unless spec'rfically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the Unfted
<br />States of America. Words and terms used in the singular shall include the plural, and the plural shall include the singular, as
<br />the context may require. Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to
<br />such terms in the Unfform Commercial Code:
<br />Beneficlary. The word "Beneficiary° means Exchange Bank, and its successors and assigns.
<br />Borrower. The word "Borrower° means LONNIE D DAVIS and ANNETTE L DAVIS and includes all co-signers and
<br />camakers signing the Note and all their successors and assigns.
<br />
|