|
:'� DEED OF TRUST �,
<br />Loan No �ZSS�2 �` ` (Continued) � 0110 6 0 6 8 P ege 6
<br />preparing and filing a map or plat of the Real Property, including the dedication of streets or other rights to the
<br />public; (b) join in granting any easement or creating any restriction on the Real Property; and (c) join in any
<br />subordination or other 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
<br />and remedies set farth above, with respect to all or any part of the Property, the Trustee shall have the right to
<br />foreclose by notice and sele, and Lender will have the right to foreclose by judicial foreclosure, in either case in
<br />accordance with and to the full extent provided by applicable law.
<br />Successor Trustee. Lender, at Lender's option, may from time to time eppoint a successor Trustee to any Trustee
<br />appointed under this Deed of Trust by en instrument executed and acknowledged by Lender and recorded in the
<br />office of the recorder of Hall County, State of Nebraska. The instrument shall contain, in addition to all other
<br />matters required by state law, the names of the original Lender, Trustee, and Trustor, the book end page (or
<br />computer system reference) where this Deed of Trust is recorded, and the neme and address of the successor
<br />trustee, and the instrument shell be executed and acknowledged by ell the beneficiaries under this Deed of Trust or
<br />their successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the
<br />title, pawer, and duties conferred upan the Trustee in this Deed of Trust and by applicable law. This procedure for
<br />substitution of Trustee shall govern to the exclusion of ell other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default
<br />and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received
<br />by telefacsimile (unless otherwise required by law1, when deposited with a nationally recognized overnight courier, or, it
<br />mailed, when deposited in the United States meil, as first class, certified or registered mail postege prepeid, directed to
<br />the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of
<br />any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning of
<br />this Deed of Trust. Any person may change his or her address for notices under this Deed of Trust by giving formal
<br />written notice to the other person or persons, specifying that the purpose of the notice is to change the person's
<br />address. For notice purposes, Trustor agrees to keep Lender informed at all times of Trustor's current eddress. Unless
<br />otherwise provided or required by law, if there is more than one Trustor, any notice given by Lender to any Trustor is
<br />deemed to be notice given ta all Trustors. It will be Trustor's responsibility to tell the others of the notice from Lender.
<br />MISCELLANEOUS PROVISIONS. The foliowing miscellaneous provisions ere a part of this Deed of Trust:
<br />Amendments. What is written in this Deed of Trust and in the Related Documents is Trustar's entire agreement
<br />with Lender concerning the matters covered by this Deed of Trust. To be effective, eny change or amendment to
<br />this Deed of Trust must be in writing and must be signed by whoever wiil be bound or obligated by the change or
<br />amendment.
<br />Arbitration. Trustor and Lender agree that all disputes, claims and controversies between us whether individual,
<br />joint, or class in nature, arlsing ftom this Deed of Trust or otherwise, including without limitation contract and tort
<br />disputes, shall be arbitrated pursuant to the Rules of the American Arbitretion Association in effect at the time the
<br />claim is filed, upon request of either party. No act to take or dispose of any Propeny shall constitute a waiver of
<br />this arbitration agreement or be prohibited by this arbitration agreement. This includes, without limitation,
<br />abtaining injunctive relief or a temporary restraining order; invoking a power of sale under any deed of Vust or
<br />mortgage; obtaining a writ of attechment or imposition of a receiver; or exercising any rights relating to personel
<br />property, including taking or disposing of such property with or without judicial process pursuant to Article 9 of the
<br />Uniform Commercial Code. Any disputes, claims, or conVoversies concerning the lawfulness or reasonableness of
<br />any act, or exercise of any right, concerning eny Property, including any claim to rescind, reform, or otherwise
<br />modify any agreement relating to the Property, shall also be arbitrated, provided however that no arbftrator shall
<br />have the right or the power to enjoin or restrain any act of any party. Judgment upon any award rendered by any
<br />arbitrator may be entered in any court having jurisdicdon. Nothing in this Deed of Trust shall preclude any party
<br />from seeking equitable relief from a court of competent jur(sdiction. The statute of Omitations, estoppel, walver,
<br />laches, and similar doctrines which would otherwise be applicable in an action brought by a party shall be
<br />applicable in any artirtration proceeding, and the commencement of an arbitration proceeding shall be deemed the
<br />commencement of an action for these purposes. The Federal Arbitration Act shall apply to the construcdon,
<br />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
<br />used to 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
<br />estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent
<br />of Lender.
<br />Governing Law. This Deed 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 without regard to its conflicts of law provlsions. This
<br />Deed of Trust has been eccepted by Lender in the State of Nebraska.
<br />Joint and Severel Liability. All obligations of Trustor under this Deed of Trust shall be joint end several, and ell
<br />references to Trustor shall mean each and every Trustor. This means that each Trustor signing below is
<br />responsible for all obligations in this Deed of Trust.
<br />No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under this Deed of Trust
<br />unless Lender does so in writing. The fact thet Lender delays or omits to exercise any right wiil not mean that
<br />Lender has given up that right. If Lender does agree in writing to give up one of Lender's rights, that does not
<br />mean Trustor will not have to comply with the other provisions of this Deed of Trust. Trustor also understands
<br />that if Lender does consent to a request, that does not mean that Trustor will not have to get Lender's consent
<br />again if the situation happens again. Trustor further understands that just because Lender consents to one or more
<br />of Trustor's requests, that does not mean Lender will be required to consent to any of Trustor's future requests.
<br />Trustor waives presentment, demand for payment, protest, and notice of dishonar.
<br />Seversbility. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that
<br />fact by itself will not mean that the rest of this Deed of Trust will not be valid or enforced. Therefore, a court wili
<br />enforce the rest of the provisions of this Deed of Trust even if a provision af this Deed of Trust mey be found to be
<br />invalid or unenforceable.
<br />Successors and Assigns. Subject to eny limitations stated in this Deed of Trust on transfer of Trustor's interest,
<br />this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If
<br />ownership of the Property becomes vested in a person other than Trustor, Lender, without notice to Trustor, may
<br />deal with Trustor's successors with reference to this Deed of Trust and the Indebtedness by wey of forbearance or
<br />extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<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 words shall have the following meanings when used in this Deed of Trust:
<br />
|