|
DEED OF TRUST � p� 10 6 512
<br />(Continued) Page 6
<br />computer system reference) where this Deed of Trust is recorded, and the name and address of the successor
<br />trustee, and the instrument shall be executed and acknowledged by all the beneficlaries 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, power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for
<br />substitution of Trustee 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 limitation any notice of default
<br />and any notice of sele shall be given in writing, and shall be effective when actually delivered, when actually received
<br />by telefacsimile (unless otherwise required by law), when deposited with a nationelly recognized overnight courier, or, if
<br />mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, 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 />eny 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 address. 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 to all Trustors. It will be Trustor's responsibility to tetl the others of the notice from Lender.
<br />MISCELLANEOUS PROVISIOPIS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />Amandments. What is written in this Deed of Trust and in the Related Documents is Trustor's entire agreement
<br />with Lender concerning the metters covered by this Deed of Trust. To be effective, any change or amendment to
<br />this Deed of Trust must be in writing and must be signed by whoever will be bound or obligated by the change or
<br />amendment.
<br />Caption Headings. Ception 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 />Goveening Lew. This Deed of Trust will be governed by federal law applicable to Lender and, to the wctent not
<br />preempted by federal law, the laws of the Stata of Nebreska without regard to its conflicts of law provisions. This
<br />Deed of Trust has baen accepted by Lender in tha State of Nebraska.
<br />Chotce of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the
<br />courts of HOWARD County, State of Nebraska.
<br />Joint and Several Uabflity. 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
<br />responsible fo� all obligatlons 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 that Lender delays or omits to exercise any right will 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 thet Trustor will not have to get Lender's consent
<br />again ff the situation happens again. Trustor further understands that Just because Lender consents to one or more
<br />qf Trustor's reqwests, 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 dishonor.
<br />Severebility. If a court finds that eny 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 will
<br />enforce the rest of the provisions of this Deed of Trust even if a provision of this Deed of Trust may be found to be
<br />invelid or unenforceable.
<br />Succesaors and Assigns. Subject to any limitetions stated in th(s 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 �eference to this Deed of Trust and the Indebtedness by way 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 />Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury, trial in any action, proceeding, or
<br />counterclaim brought by any party against any other party.
<br />Waivar of Homestead Exemptton. Trustor hereby releases and waives all rights and benefits of the homestead
<br />exemption laws of the State of Nebraske as to all Indebtedness sacured by this Deed of Trust.
<br />DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
<br />Beneflciary. The word "Beneficlary° means CITIZENS BANK & TRUST COMPANY, and its successors and assigns.
<br />Borrower. The word °Borrower" means LARRY J PROWETT and JANET M PROWETT and includes all co-signers
<br />end co-makers signing the Note and all their successors and assigns.
<br />Deed of Trust. The words °Deed of Trust° mean this Deed of Trust among Trustor, Lender, and Trustee, and
<br />includes without limitation all assignment end security interest provisions relating to the Personal Property and
<br />Rents.
<br />Environmental Laws. The words °Environmental Laws° mean any and all state, federal and local statutes,
<br />reguletiona and ordinances relating to the protection of human health or the environment, including without
<br />limitation the Comprehensive Environmental Response, Compensation, and Liebility Act of 1980, as amended, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br />No. 99-499 (°SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Sectlon 1801, et seq., the Resource
<br />Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other appl(cable state or federal laws, rules,
<br />or regulations adopted pursuant thereto.
<br />Event of Defeult. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in
<br />the events of default section of this Deed of Trust.
<br />Guaranty. The word °Guaranty° means the guaranty from guarantor, endorser, surety, or accommodatlon party to
<br />Lender, including without limitation a gueranty of all or part of the Note.
<br />Hazardous Substances. The words "Hazardous Substances" mean meterials that, because of their quantity,
<br />concentratlon or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard
<br />to human health or the environment when improperly used, treated, stored, disposed of, generated, manufactured,
<br />trensportad or othen�vise handled. The worda °Hazardous Substances" ere used in their very broadest sense and
<br />include without limitetion eny and all hazardous or toxic substances, materials or waste as defined by or listed
<br />under the Environmental Laws. The term °Hazardous Substances" also includes, without limitation, petroleum and
<br />.
<br />
|