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<br /> • .� : t81 Any failure on thg part of the Trustor to meet the repayment terms in respect to the Loan Agreement and any • < � - -• �° `
<br /> : other advances unde�this Deed of Trust hereby secured;and, �
<br /> , , E (C) My action by the Trustor prohibited by the terms of the Loan AgreemerK or this peed of Trust or any failure of �<<� . ; _
<br /> „.. � . the Trustor ta act as required by the Loan Agreement ot this Deed of Trust,each of which Trustor hereby agrees ' - -
<br /> � . ` have an adverse affect on the Beneficiary's security for tha tine of credit established and the rights of the � • `� � �
<br /> �.
<br /> - � Benef�ciary in such security. � • ��',.�. �
<br /> . �•,' } `. � .
<br /> . � _ and upon the happening of any such event of defauti,Beneficiary may deciare all sums secured hereby immediatety ' -
<br /> - due and payable by detiver to Trustee of written declaratian of default. 'Phe Trustee shafl have the power of sale of � _.-_..:..- • �:�::.� ;
<br /> , f-`- �- -�— the Piroperty,and ff 8eneficiary desires the Property to be sotd,it shatl depasit wiih Tnsstee this Deed af Trust artd at! �' - - _,--_-•— ,
<br /> � ' .. promissory notes and documents evidencing expenditures secured hereby and shall detiver to Trustee a writter►notice � ":�;f:.t:��.`-.,`f
<br /> � �� ; of defauft and election to cause the Property to be sotd, artd the Trustee in tum shail prepare a noUce in the form � ~°�r
<br /> f•s required by law,which shap be duty fil�d for recard by Trustee. 6,y �c'��.r��". , �` -��
<br /> , �t (A) After the lapse of such time as may be required by Iaw foltowing the recordation of said notice of default, and `1 �w ��
<br /> ' notice of default and nouce of sale having been given as required by law,Trustee,without @emand on Trustor, , • �'
<br /> - • � ': shaA se{l the Property on the date and at the time and place designated in said noUce of sate,at publlc auction to . _� •�� �_
<br /> - �<<.. the highest btdder,the purcl�ase price payable in lawful money of the United States at the time of�ale. The � � � �..`,_,::�;;:'-:
<br /> , � � _ person conducting the sele may, for any cause he deems expedient, postpone the sale from time to tims unti{it ' ,;:��_=-
<br /> � � . shaU be completed and,in every such case, notice of postponement shall ba given by pub{ic declaratio�thereofi � �_'�"
<br /> , by such person et the time and place Isst appointed for the sale,provided,if the sale is postponed for longer than . �-:_
<br /> •� '��s one11)day bsyond the day designated in the noLice of sate,notice thereof shaQ be given in the same manner as : i:��-_:
<br /> - • ` the original nottce of sale. Trustee ahati execute and deliver to the purchaser its Qeed conveying 4he Property so °�':: ��� :_ -
<br /> ' : � sold,but without andy covenant or war�anty,express ar imptied. The recitals in the deed of any matters or acts ��'Y�'`
<br /> �• � shat{be conclusive praoi of the truthfulness thereof. Any person,inctuding Banetictary.may purchase at the sate. �. �f.fY�'�
<br /> � � �! (B) When Trustee setls purauant to the powers herein, the Trustee shail a ty ihe proceeds of the sale to payment - - �� �
<br /> �P , .. �:z:
<br /> • � ; of the costs and expenses of exercising the power of sale and of the sate,inciuding the payment of the Trustae s
<br /> . ,; . . . :�:`"y
<br /> • fees actually incurred,which Trustee s tees shall not in the aggregate exceed the tottowing amount based upon r.- .:;::
<br />.� the amount secured hereby and remaining unpatd;5 pe►centum on the first 81,000 thereof, 1 percentum on the .. � '��4,;��;�'--;;
<br /> � � �. balance thereof and then to the items tn subparagraph(C)in the order there stated. - � `"
<br /> � (C)After paying the items specified in subparagraph(B)if the sate is by Trustee,or the proper court and other costs ' �''"�;�'',
<br /> '`" � of forectosnre and saGle if the sele is pursuant to judiciai forectosure,the proceeds of sate shaR be applied in the order � �;�::�:
<br /> ' • stated to the payment of: • i�'''�'�
<br /> :i��'.
<br /> - •. iq Cost of any evidence of title procured in connectlon with such sate and of any revenua stamps; � � ::r��
<br /> • . (11) All sums the secured hereby; . '� �� "=`
<br /> � (ttq The remainder, if any,to the person legally entitled thereto. �" � '�
<br /> , � 13. Duties and 061igations of Trustees. (a) The duties and ohligations of trustee shall be determined solely by . ; `�'' . ':
<br /> • ,- the express provisions of this Oeed of Trust,and Trustee shall not be liabte except for the periormance of such duties � - �-'''�y-
<br /> • and obligatio�s es are specificalty set forth herein, and no implied covenants or obUgations shaU be impased upan '
<br /> � Trustee; (b) No provisions of thls Deed of Trust shall require Trustee to expand or risk its own funds, or otherwise � . • - _
<br /> � � incur any financial obligation in the performance of any of its duties hereunder,ar in the exercise of any of its rights � , �� . ��'�;,
<br /> or power,if it shall have grounds for betieving that the repayment of such funds or adequate indemnity against such � f°-�':':�:
<br /> �= risk or liability is not reasonably assured to it;(c) Tr�stee may consult wlth counsel of its own choosing and the advice • :�����
<br /> � �� of such counsel shall be full and comptete authnrization and protection in the respect of any action ta6cen or suffered • .. �_°
<br /> . , by it hereunder in good faith and reliance the�eon;(d) Trustee shall not be Ilabte for a�y action teken by it in good faitt� ""
<br />_ ; - . • and reasonably believed by it to be authorized or within the discretian or rights and powers conferred upon it by this � " . � .:�?�
<br /> .. � '; Deed of Trust. � � .'�
<br /> 14. Additionaf SecuBty Insuuments. Trustor, at its expense, wiU execute and deliver to the Trustee, promptty � ;�.N..::
<br /> - ' .' upon demand,such security instruments as may be required by Trustee,in form and substance satisfactory to Trustee, . -�
<br /> � covering any of the Property conveyed by tC�is Oeed of Trust,which security instruments shall be additional security �
<br /> . ' - for Trustor's faithiul performance of all of ihe terms, covenants and conditions of this Oeed of Trust, the Loan
<br /> -` � Agreement,any promissory notes secured hereby and any other security instruments executed 1n connection with thls , ' . �.- •
<br /> ' transaction. Such instruments shail be recorded or filed,and re•recorded and refiled, at Trustor's expense. ,
<br /> � ' � 98. Misceltaneous. �
<br /> • � (A) In the event any one or more of the provisions coritairted in the Qeed of Trust, or the Loan Agreement or any ��.
<br /> �;� � promissory note, or any other security instrument given in connection with this transaction, shall for any reason , . . ,
<br /> . . to be held to be Invalid,ltlegal or unenforceabte 1n any respect, such invalidity, iliegality or unenforceabitity ahaU, . �
<br /> , at the option oi Beneftciary, not affect any other provlsion oi this Deed of Trust,that this Deed of Trust shall be . �
<br /> . � construed as if such invalid,litegal or unenforceable provision had never been contained herein or therein. �:� '
<br /> .�. � lB) This Deed of Trust shall be construed according to the laws of the State of Nebraska. � • .�
<br /> • � (C1 the Deed of Trust ahali insure to and bind the heira,lagateea,devlsees,administrators,executors,successors and
<br /> assigns of the partles hereto. .
<br /> j (DI Trustor shall pay all taxes levled upon this Qeed oi Trust or the debt secured hereby,together with any other taxes . � �
<br /> i or assessmenta which may be levied against the Trustee or Beneficiary or the legal holder of the Loan Agreement
<br /> � � on account of the indebtedness evldence thereby. •
<br /> ; (E) Whenever used herein,the singular number shali include the plurai,the pluraf,the singular,the use of any gender .
<br /> �� . � sha11 be appHcable to etl genders, end the te�m "Beneficiary" shall inctude any payee ot the indebtedness hereby •.
<br /> � �, secured or any transfer thereof, whether by operation of taw or otherwise. .
<br /> • . • 16. Successar Truatee. BeneTiciary may from time to time substitute a successor or successors to any Trustee � �
<br /> , .: � named herein or acting hereunder te execute this Trust Deed. Upon such appointment and withoui conveyanee to . . � . •
<br /> . the successor Trustee, the latter sh�ll be vested with all title, powers and duties conferred upon any Trustee herein . � . �
<br /> ' named ar actirtg hereunder. Each such appointment or substitution shatl be made by written instrument by Beneficiary, , , •
<br /> containing reference to this Deed of Trust and its place of record, which when recorded in the office of the Register
<br /> of Deeds of the county or counties in which said properry is situated,shall be conclusive proof of proper appointment • ' �
<br /> of the successor Trustee. The foregoing power of substitution and the procedure therefore shali not be exclusive of ' .
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<br /> � 9�94 408�3 � �
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