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<br />2. ' To the payment of the obligation secured by this DEED OF TRUST and Trust Deed
<br />Note; '
<br />3. To the payment of junior Trust Deeds, mortgages, or other lien holders;
<br />4. The balance, if any, to the person or persons legally entitled thereto.
<br />E. Upon the occurrence of any default hereunder, BENEFICIARIES sha11 have, in addition to
<br />such other options as may be granted herein, the further option to foreclose this DEED OF
<br />TRUST in the manner provided by law for foreclosures of mortgages on real property.
<br />F. BENEFICIARIES may from time to time substitute a successor or successors to any
<br />TRUSTEE named herein or acting hereunder. Upon such appointment, and without
<br />conveyance to the successor TRUSTEE, the latter shall be vested with all title, powers, and
<br />duties coriferred upon any TRUSTEE lierein named or acting he�eunder. Each such
<br />appoiritment and substitution shall be made by written instrument and executed by
<br />BENEFICIARIES, containing reference to this DEED OF TRUST and its place of record,
<br />which, when recorded in the Office of the Register of Deeds of the county or counties in
<br />which said properiy is situated, shall be conclusive proof of proper appointment of the
<br />successor TRUSTEE. The foregoing power of substitution and the procedure therefore
<br />shall not be exclusive of the power and procedure provided for by law for the substitution
<br />of a TRUSTEE in the place of the TRUSTEE named herein.
<br />G. TRUSTORS covenant and agree that upon any attempted conveyance, assignment, pledge
<br />or transfer of any of their interest in the premises during the term of the loan secured
<br />hereby, the BENEFICIARIES shall have the option of declaring the unpaid balance
<br />immediately due and payable, and if said sum remains unpaid for fifteen (15) days
<br />thereafter, BENEFICIARIES can cause Notice of Default to be given and the premises be
<br />sold as pravided herein.
<br />H. As additional and collateral security for the loan, and effective forthwith upon filing of a
<br />Notice of Default, this instrument shall serve as an assignment by the TRUSTORS to the
<br />TRUSTEE, of all rents and revenues resulting from the property, and TRUSTEE is
<br />authorized to take possession of the properly, rent or lease the same on terms he deems
<br />best anci to collect the rents and revenues and apply the same upon unpaid interest,
<br />principal, taxes or insurance premiums or for maintenance and preservation of the
<br />premises.
<br />I. The waiver by TRUSTEE or BENEFICIARIES of any default of TRUSTORS under this
<br />DEED OF TRUST, on one occasion, shall not be or be deemed to be a waiver of any other
<br />or similar defaults subsequently occurring.
<br />J. If title to any part of the properly herein shall be taken in condemnation proceedings, by
<br />right �of eminent domain, or similar action, or shall be sold under threat of condemnation,
<br />all awards, damages and proceeds are hereby assigned and �ha11 be paid to the
<br />BENEFICIARIES, who sha11 apply such payment, or any part thereof, in their sole
<br />discretion, to the sum due at that time on this DEED OF TRUST and Trust Deed Note,
<br />with any balance above the amount due hereunder payable to the TRUSTORS.
<br />K. The BENEFICIARIES, their agents or representatives, are hereby authorized to enter, at
<br />any reasonable time, upon any part of the trust properly for the purposes of inspecting the
<br />same and for the purpose of performing any of the acts they are authorized to perform
<br />under the terms of this DEED OF TRUST and other accompanying documents.
<br />L. This DEED OF TRUST and a11 accompanying documents are subject to, constructed and
<br />governed by the laws of the State of Nebraska for a11 purposes. '
<br />M. In the event any one or more of the provisions contained in this DEED OF TRUST, Trust
<br />Deed Notes, or any other instrument given in connection with this transaction, sha11 for any
<br />reason be held to be invalid, illegal or unenforceable in any respect, such invalidity,
<br />illegality, or unenforceability shall, at the option of the BENEFICIARIES, not affect any
<br />other provisions of this DEED OF TRUST or Trust Deed Note, but this DEED OF
<br />TRUST and Trust Deed Note shall be construed as if such invalid, illegal or unenforceable
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