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03-26-1998 DEED OF TRUST9V1"� 1E'j3023 Page 5
<br /> Loan No 684290 (Continued)
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<br /> . (d) With respect to all or any part of the Personal Properly, Lender shall have all the rights and remedies of a secured party under the
<br /> Nebraska Uniform Commercial Code.
<br /> Foreclosure by Power of Sale. If Lender elecis to foreclose by exercise of the Power of Sale herein contained,Lender shall notiy Trustee and
<br /> shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured by this Deed of
<br /> Trust as Trustee may require.
<br /> (a) Upon receipt of such notice(rom Lender,Trustee shall cause to be recorded,published and delivered to Trustor such Notice of Default
<br /> and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall, without demand on Trustor,after such time as may
<br /> ihen be required by law and after recordation of such Notice of Default and aHer Notice of Sale having been given as required by law,sell
<br /> the Property at the time and place of sale(bced by ft in such Notice of Sale,either as e whole, or in separate lots or parcels or items as
<br /> Trustee shall deem expedient,and in such order as it may determine, at public aucNon to the highest bidder for cash in lewful money of
<br /> the United States payable at the time of sale. Trustee shell deliver to such purchaser o�purchasers thereof its good and suHictent deed or
<br /> deeds conveying the property so sold,but without any covenent or waRanty,express or implied. The recitals In such deed of any matters
<br /> or facts shall be conclusive proof of the truthtulness thereof. Any person, including without limitatlon Trustor, Trustee, or Lender, may
<br /> purchase at such sale.
<br /> (b) As may be permitted by law,aRer deducting ail costs,fees and expenses oi Trustee and of this Trust, including costs of evidence of
<br /> title in connection with sale,Trustee shall apply the proceeds of sale to payment of (i)all sums expended under the terms of this Deed of
<br /> Trust or under the terms of the Note not then repaid,including but not limited to accrued interest and late charges, (Ii)all other sums then
<br /> secured hereby,and (iii)the remainder,if any,to the person or persons legally entiNed thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any po�tion of the Property.
<br /> Remedies Not Exclusive. Trustee and Lender,and each of them,shall be entitled to enforce peyment and performance of any indebtedness
<br /> or obligations secured by this Deed ot Trust and to exercise all rights and powers under this Deed of Trust, under the Note, under any of the
<br /> Related Documenis, or under any other agreement or any laws now or hereafter in torce; notwithstanding, some or ali ot such indebtedness
<br /> and obligations secured by this Deed of Trust may now or hereafter be otherwise secured, wheiher by mortgage, deed of trust, pledge, lien,
<br /> assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement,whether by court action or pursuant to the power of
<br /> sale or other powers contained in this Deed o(Trust, shal� p�ejudice or in any manner affect Trustee's or Lender's right to realize upon or
<br /> en}orce any other security now or hereafter held by Trustee or Lender, it being agreed that Trustes and Lender, and each of them, shall be
<br /> entitled to enforce this Deed of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as ihey or
<br /> either of them may in their absolule discretion determine. No remedy conferred upon or reserved to Trustee or Lender, is intended to be
<br /> exclusive of any other remedy in this Deed of Trust or by law provided or permifled,but each shall be cumulative and shall be in addition to
<br /> every other remedy given in this Deed of Trust or now or hereafter existing at law or in equity or by statute. Every power or remedy given by the
<br /> Note or any of the Related Documents to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised,
<br /> concurrently or independenlly, irom time to time and as often es may be deemed expedient by Trustee or Lender, and either of them may
<br /> pursue inconsislent remedies. Nothing in this Deed of Trust shall be construed as prohibiting Lender from seekfng a de8ciency judgment
<br /> against the Truslor to the extent such action is permitted by law.
<br /> Request For Notice. Trustor,on behalf of Trustor and Lender,hereby requests that a copy of any Notice of Default and a copy of any Notice
<br /> of Sale under this Deed of Trust be mailed to them at the addresses set forth in the flrst paragraph of this Deed of Trust.
<br /> Waiver; Election of Remedies. A waiver by any party of a breach of a provision of this Deed of Trust shall not constitute a waiver of or
<br /> prejudice the party's righis otherwise to demand strict compliance with that provision or any other provisfon. Election by Lender to pursue any
<br /> remedy provided in this Deed of Trust,the Note,in any Related Document, or provided by law shall not exclude pursuit of any other remedy,
<br /> and an election to make expendiiures or to take action to perform an obligalion of Trustor under this Deed of Trust after failure of Trustor to
<br /> perform shall not affect Lender's right to declare a default and to exercise any of its remedies.
<br /> Attorneys'Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled to
<br /> recover such sum as the court may adjudge reasonable as attorneys' fees at trial and on any appeal. Whether or not any court action is
<br /> involved,all reasonable expenses incurred by Lender which in Lender's opinion are necessary at any time for the protectfon 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 rate(rom the date of
<br /> expenditure until repaid. Expenses covered by this paragraph include,without limitation, however subject to any limits under applicable law,
<br /> Lender's attorneys' fees whether or not there is a lawsuit, inciuding attorneys' fees 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 searching records,
<br /> obtaining title reports (including foreclosure reports), surveyors' reports, appraisal fees, title insurance, and fees for the Trustee, to the extent
<br /> permitted by applicable law. Trustor also will pay any court costs,in addition to all other sums provided by law.
<br /> Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set torth in this section.
<br /> POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are pa�t of this Deed of
<br /> 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 the following actions
<br /> with respect to the Property upon the written request ot Lender and Trustor: (a)join in preparing and 81ing a map or plat of the Real Property,
<br /> including the dedication of streets or other rights to the public; (b)join in granting any easement or creating any restriction on the Real Property;
<br /> and (c)join in any 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 Iaw. In addition to the rights and remedies set forth above,
<br /> with respect to all or any part of the Property,the Trustee shall have the right to foreclose by notice and sale,and Lender shall have the right to
<br /> foreclose by judicial foreclosure,in either case in accordance with and to the futl extent provided by applicable law.
<br /> Successor Trustee. Lender,at Lender's option, may from time to iime appoint a successor Trustee to any Trustee appointed hereunder by an
<br /> instrument executed and acknowledged by Lender and recorded in the oHice of the recorder of HALI County,Nebraska. The instrument shali
<br /> contain, in addition to all other matters required by state Iaw, the names of the original Lender,Trusiee, and Trustor, the book and page(or
<br /> computer system reference)where this Deed of Trust is recorded,and the name and address o}the successor trustee,and the instrument shall
<br /> be executed and acknowledged by all the beneficiaries under the Deed of Trust or their successors in interest. The successor trustse,without
<br /> conveyance of the Property,shall succeed to all the title,power,and duties conferred upon the Trustee in this Deed ot Trust and by applicable
<br /> law. This procedure for substitution of trustee shatl govern to ihe exclusion of all other provisions for substitution.
<br /> NOTICES TO TRUSTOR AND OTHER PARTIES. Any notice under this Deed of Trust shall be in writing, may be sent by telefacsimile (unless
<br /> otherwise required by law), and shall be effective when actually delivered, or when deposited with a nationally recognized overnight courier, or, if
<br /> mailed,shall be deemed effective when deposited in the Uniied States mail flrst class,certified or registered mail, postage prepaid, directed to the
<br /> addresses shown near the beginning of this Deed of Trust. Any party may change its address for noiices under this Deed of Trust by giving formal
<br /> written notice to the other pafies,specifying that the purpose of the notice is to change the party's address. All copies of notices of foreclosure t�om
<br /> the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address,as shown near the beginning of ihis Deed of Trust.
<br /> For notice purposes,Trustor agrees to keep Lender a�d Trustee informed at all times of Trustor's cunent address.
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br /> Amendments. This Deed of Trust, together with any Related Documents,constitutes the entire understanding and agreement of the parties as
<br /> to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing and
<br /> signed by the party or parties sought to be charged or bound by the alteration or amendment.
<br /> Annual Repons. If the Property is used for purposes other than Trustor's residence,Trustor shall furnish to Lender, upon request,a certifled
<br /> statement of net operating income received (rom the Property during Trustor's previous fiscal year in such form and detail as Lender shall
<br /> require. "Net operating income"shall mean all cash receipts hom the Property less all cash expenditures made in connection with the operation
<br /> of ihe Property.
<br /> Applicable Law. This Deed of Trust has been delivered 10 Lender and accepted by Lender In the Staie of Nebraska. This Dsed M Truat
<br /> ahall be govemed by end construed in ac:cordance with the laws of the S1ate of Netxaske.
<br /> Caption hkadinys. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or de8ne the
<br /> provisions of this Deed of Trust.
<br /> Meryer. There shali be no merger o(the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any
<br /> time held bv or for the benefit of Lender in anv csoaritv_withn��r t►,o w�ho�,..,.,�e.,e�f�e.�.�e.
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