|
DEED OF TRUST
<br />(Continued) � Q�� o� o� 8 Page 6
<br />Lender shall be entitled to recover such sum as the court may adjudge reasonable as attomeys' fees at trial and upon
<br />any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable
<br />expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the
<br />enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note
<br />rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation,
<br />however subject to any limits under applicable law, Lender's attomeys' fees and Lender's legal expenses, whether or not
<br />there is a lawsuft, including attomeys' 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
<br />searching records, obtaining tiUe reports (including foreclosure reports), surveyors' reports, and appraisal fees, title
<br />insurance, and fees for the Trustee, to the extent permitted by applicable Iaw. Trustor also will pay any court costs, in
<br />addition to aII other sums provided by law.
<br />Rights of Trustee. Trustee shall have all 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
<br />part of this Deed of Trust:
<br />Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take
<br />the following actions with respect to the Property u�n the written request of Lender and Trustor: (a) join in preparing
<br />and filing a map or plat of the Real Property, including the cl�dication of strs�ets or other rig!tits ta t��e public; (b) join in
<br />yranting any saseme:rrt or creating any restriction on the Fieal Property; and (c) join in any �u�rdination or other
<br />agreement affecting this Deed of Trust or the irrterest of Lender under this Deed of Trust.
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addftion 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 foreclose by judicial foreclosure, in either case in accordance with and
<br />to the full extent provided by applicable law.
<br />Successor Trust�. 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 original 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 trustee, 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 title, power, and duties conferred upon
<br />the Trustee in this Deed of Trust and by applicable law. This procedure for substitution 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, inciuding without limitation any notice 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, 'rf mailed, when
<br />deposited in the United States mail, as first class, certffied 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 ail 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 />MISGEI.l�Q��JS PF�O![ISIQNS. T',�e fallowing miscellaneous �:arovisi�ns ere � pa€taf thi� De�ot Ti�:st:
<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 operating income° shall mean all cash receipts from the
<br />Property less all cash expenditures made in connection with the operation of the Properly.
<br />Captlon 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 capacity, without the written consent of Lender.
<br />Governing Law. This De� of Trust will be governed by federal law applicable to Lender and, to the extent not
<br />preempted by federal law, the laws of the State of Nebraska wlthout regard to its conflicts of law provPsions. This
<br />Deed of Trust has been accepted by Lender in the State of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of
<br />Buffalo County, State of Nebraska.
<br />Joint and Several Lfabllity. All obligations of Borrower and Trustor under this Deed of Trust shall be joint and several,
<br />and all references to Trustor shall mean each and every Trustor, and all references to Borrower shall mean each and
<br />every Borrower. This means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<br />Where any one or more of the parties is a corporation, partnership, limfted liability company or similar entity, it is not
<br />necessary for Lender to inquire into the powers of any of the officers, directors, partners, members, or other agents
<br />acting or pu[porting to act on the entity's behalf, and any obligations made or created in reliance upon the professed
<br />�xercisQ �f such pov ers sha!l be yaarantaed undsr ±h�3 ��ed c# Tr::st: _
<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 between 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 trans`actions. 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 />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or
<br />unenforceable as to any circumstance, that flnding shall not make the offending provision illegal, invalid, or
<br />unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modffied so that it
<br />becomes legal, valid and enforceable. If the offending provision cannot be so mod'rfied, ft shall be considered deleted
<br />from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of
<br />this Deed of Trust shall not affect the legality, validit�r or enforceabilit�r of any other provision of this Deed of Trust.
<br />
|