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<br /> ~ "Proceeda")In connectlon with wndemnetlon or other teking of the Proporty or part thereof,or for conveyance In Ifeu of condemnation. �� �`"
<br /> . j Lender shall be entitlad et Ite optlon to commence,appear In end prosecute In Its own name any action or proceedings,a�id shell elso .;��,'���,=.
<br /> ho entitled to make any compromise or settlemenl in connection with such taking or demage.In the ovent any portion o(the Property is .
<br /> � so taken or damagAd, Lender shaU have the opllon In Its sole and absolute discrotlon, to epply all such proceeds, a(ter deducUng ,f,,�,._
<br /> thzretrom all c�sts and expenses incurred by It in connectlon with such Proceeda,upon any indebtedness secured herel�y and In such � � ..
<br /> order es Lender may detarmine,or to epply ell such Proceeds,efter such daduction�,to the restoration of tha Property upon such con- ! t �.`:,f.�,
<br /> dltions eo Lendor mey determine.Any appllcatton of Proceeds to Indebtedness shail nat extend or postpone lhe due dete ot any pay '`-°"'•`�°
<br /> ,� manta under the Nota,or c�.ire eny defaull thereunder or hereunder.Any unepplled funds shall be paid to Trustor. � •5� �„_:�=
<br /> B. PMo►m��ce by L�ndar. Upon the occurrence oi an Event of Defauit hereunder,or if any act is taken or lega! proceeding N ��T;Fi:_;'�,
<br /> • ; r,ommenced whlr,h meterially eHects l.ender's Interest In the Property,Lender mey in its own discretion,but without obligation to do so,� -
<br /> •� K and wlthout notice to or demand upon Trustor and without releasing Truetor from any obllgation,do eny act which Trustor has agreed .�
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<br /> ,,,,,.ri+�► but felled ta do end may also do any other act it deems necessary to protect the securiry hereof.Trustor shall, irnmediatoty upon se�:-.-•
<br /> +.��.. .+�� demnnd ti�erefor by Lender,pay to Lendar ell cosls and expenses Incurred and sums expended by Lender in connection with the exer- ��' _--
<br /> • t clse by Lender of the foregoing rights,topethor wllh interest thereon at the defauit rete provided In the Note,which shall be edded to �__
<br /> the Indebtedness sc�cured hereby.Lender shall not Incur eny Ilability becausa of enything it may do or omit to do hereunder. �;=__
<br /> . 9. Huardous Materlals.Trustor shall keep the Property In compliance with all applicable laws, ordinances and regulatlons =-__
<br /> ° rolating to Industdal hyglena or environmental protectlon (cnllectively reterred to hereln as"Environmental Laws').TNStar shall keep �- -- -
<br /> , the Property free fram ail�ubstances deemed to be hozerdous or toxic under eny Envlronmentai Laws(collecdvely r�eterred to herein _-
<br /> �, es'Hezerdous Materials"). Trustor liereby warranls and represents to Lender that there ere no Hazardous Materlals on or under the �::
<br /> , Property.Trustor hereby agrees to indemnify end hotd harmless Lender,Its directore,oHicers, emptoyees end egents, end any succes- v
<br /> �� sora to Lender's interest,from and against any and all cialms,demages,losses and ifabilipes arising in connection with the presence, ��
<br /> use,disposel or transport of any Hazardous Meterlals on,under,from or about the Property. THE FOREGOING WARRANTIES AND ----
<br /> � R�PRESENTATIONS,AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY,SHALL SURVIVE
<br /> '� � RECONVEYANCE OF THIS DEED OF TRUST. —
<br /> 10. Asslqrym�nt ot R�nts. Trustor hereby assigns to Lender,and grants Lender e securlty Interest In, all present,fuWre and —_
<br /> � efter arising rents,issues and proflts of the Properry; provided thet Trustor dhall,unUl the occurrence of an Event of Defauit,hereunder,
<br /> havA the right to collect end retaln such rents,Issues and profits as they become due and poyable.Upon the occurrence of an Event of _
<br /> Qefeult, Lender may,elther in porson or by agenl,with or wlthout bringing any action or proceeding,or by a recefver appolnted by a
<br /> , �. caurt end wlthout regard to the adequacy of Its security,enter upon and teke possession oi the Property,or any part thereof,in its own ____._
<br /> name or in the neme of the Trustee,and do any ects which it doems necessery or deslrable to preserve the value,marketeblllty or �"'
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<br /> rentabllity of lhe Propertq,or any part thereot or interest thereln,or to Increase the Income therefrom or protect the secudy hereoi and, —
<br /> with or without taking possession of the Property,sue for or otherwise collect the rente,issues and profits thereof,Including those past
<br /> due and unpald,by notifying tenants to make payments ta Lender.Lender may apply rents,issues end profits,less cosls and expens- �
<br /> •• es of operation and collection includiny attomey's fees,to any indebtedness secured hereby,all in such order as Lender may deter-
<br /> mine.The entering upon end taking possesslon of the Property,!he collecUon of such rents, issues and profits,and the application =
<br /> thereof as atoresaid shali not cure or welve any default or notice of defeult hereunder or Invalidate any act done in response to such
<br />_=_---_�-- detnuii ur purounni io trucii noiica of defieuit a�o, noiwithstanding the continuance in posseasion of the properry or ine wiiection,
<br /> recelpt and appllcation of renis, issues or profits,Trustee and Lender shell be entltfed to exerclse every right pr�vided for in any of the �
<br /> Loan Instruments or by law upon occurrence of any Event of Oefeult,including w(thout Ilmitation the right to exercise the power af sale.
<br />-; Further,L.ender'a rights end remedies under thls pnragreph shell be cumulative with,and in no way a Ifmitetion nn,Lender's rights and
<br /> • remedfes under any assignment of leases and rents recorded egalnst the Property.Lender,Trustee and the recelver shall be ilable to
<br /> eccount only for those rents ectually rece(ved.
<br /> �� 11.Events of Default.The following shall constitute an Event of Default under this Deed of Trust:
<br /> (a)Feliure to ps�y any Installment oi principal or interest or any other sum secured hereby when due;
<br />� (b)A breach of or default under any provis(on contalned in the Note,this Deed of Trust,any of the Loan Instruments,or eny
<br /> :�, other Ilen or encumbrancd upon the Properly;
<br />, M (c)A writ of execution or attachment or any similar process shall be entered agalnst Trustor which shall become a Ilen on �
<br /> � the Properly or any portlon thereof or Interest therein; _
<br /> _ � ' „ (d)There shall be filed by or agatnst Tmstor or Borrower an action under any present or future federal.stale or other statute,
<br /> r law or regulaUon relating to bankruptcy,Inaoivency or other relief for debtors;or thdre ahall bo eppofnted eny truetee,recefver or _
<br />• IlquidAtor of Trustor or Bortower or of all or eny part of the Property,or the rents,issues or profits thereof, or Trustor or Borrower �
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<br /> shall make any general assignment for the benefit of creditors; ��
<br /> (e)The sele,trensfer,lease,assignrnent, c�nveyance or turther encumbrence of ell or any part of or any interest in the �
<br /> ' Property,either volunterlly or involuntarily,wlthout the express written consent of Lender;provided thet Tnistor shall be permit- __�--
<br /> �' ted to execute a lease of the Property thal daes not contain an option to purchase end the tertn of which does not exceed one �
<br /> year, �,� =
<br /> , '` (f�Abandonment o(the Property;or o•=
<br /> (g)if Trustor Is not an individual,the Issuence,sale,transfer,assignment,cornoyance�r encumbrance�f more than pi a �-'-
<br /> corporetlon) a totel of percent of its issued and outstanding stock,or(if a partnership)e total of per- —
<br /> cent of part�ership interests,or(If e Ilmited Ilability company)a total of percent of the limlted Iiability compa-
<br /> � .� ny interests or voting rights during the poriod this Deed of?'rust remains a iien on the property. -
<br /> j12.Remedies;�4cceleratlon Upon DefaWt. In the event oi any Event of Default Lender may,wlthout notice except as requlred -�;„�
<br /> by la�v,declare all indebtedness secured hereby lo be due and payable and the same shall thereupon become due and payable with- �.a..;°.;_
<br /> � out any prosentment,demand,protest or notice otany kind.Thereafter Lender may: •"=-�
<br /> (a)Demand that Trustee exerclse the POWER OF SALE granted hereln,and Trustee shall thereafter cause Trustor's Inter-
<br /> est In the Properly to be sold and the proceeds to be distributed,all In the manner provfded in the Nebreska Trust Deeds Act;
<br /> 1 (b) Exercise any and all rights provided for in any of the Loan Instruments or by I�w upon occurronce of any Event of
<br /> � Default;and
<br /> (c)Commence an action to foreclose thls Deed of Trust as a mortgage,appolnt a receiver,or speclfically entorce any oi the
<br /> covenants hereof.
<br /> No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy hAreln,In the Loan
<br /> Instruments or by law provfded or permitted,but each shall be cumulativo,shall be in additlon to every other remeay_glyen hereunder,
<br /> In the Loan Instruments or now or hereafter existing at law or in equlty or by statute,and may be exerclsed concurrentty,Independentiy
<br /> or succesively.
<br /> � 13.Trustee.Tho Trustee may resign at any time without cause,and Lender may at any tlme and without cause appoint a suc-
<br /> _ . ca�sor or suosiiiuia i rusiee.i ruscee snaii not ne uaoie to any pany,IncluAing without Ilmltatlon LAnder, Borcower,Truslor or any pur- --
<br /> � chaser of th6 t�roperty,for any Inss or damage unless due to reckless or wiilful misconduct,and shall not be required to lako any action
<br /> In connect�on with the enforcement o(thfs Deed of Trust unless indemnified,in writing,for all costs,compensation or expensos which
<br /> � may be associated therowith.In addition,Trustee may be�ome a purchaser at any sale of the Property Qudicial or under the power of
<br /> � sale granted herefn);postpone the sale of all or any partion of the Property,as provided by law;or sell the Proparly as e wholo,or in
<br /> soparate parcels or lots at Trustee's discretlon.
<br /> j 14.Fees and Expenaes.In the event Trustee sells the Property by oxercise of power of sale,Trustee shall be entitled lo apply �
<br /> , any sale procoods first to payment of all costs and expenses of exercising power ot sale, Including all Trustee's fees,and Lender's and I
<br /> � '� Trustee's attomey's fees, actually incurred to extent permitted by applicable law.In the event Borrowor or Trustor exercises any right
<br /> provided by law to cure an Event of Default, Londor shall bo ontitled to rocover from Trustor ell costs and oxpenses actually incurred as
<br /> a res�lt of Trustor's default,including without limitalion all Trustee's and attorney's fees,to tho extent permittod by applicable law
<br /> 15. Futura Advances. Upon request of Borrower, Lender may, at its optlon, mako addilional and luture advances and road-
<br /> vances tu Borrower.Such advancos and re2dvances,w�Ui interest Ihereon,shall be securod by thfs Deod of Trust.At no time shall the �
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