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<br /> "Proceeds")In wnnecUon with condemnatlon or other t�king of tho Property or part theraof,or for conveyence In Ileu of condomnetion. ?• ��
<br /> Lender shail be entitlod at Its optlon to commence,appear In and prosecute In fts own name any action ar proceedings,end ahali elso :7- �'��v
<br /> bo entitted to meke nny compromise or settlemenl In aonnectlon wlth such taking or damape. in the event any portfon of the Property is
<br /> so laken or damagod, Londer shell have tho aption In its sole end absolute discretfan,lo apply all such proceeds, after deducting(Q
<br /> . therefrom all costs and expenses Incurred by It In connectlon with such Procoeds,upon any indebtedness secured hereby and in suchv . •
<br /> order as Lender may determine,or to apply ali such Proceeds,aftar such deductfons,to the restorotion of the Property upon such con-�
<br /> dltions as Lender mey determine.Any eppllcetlon of Proceeds to Indebtedness shall not extend or postpone the due date�f eny pay- � , ,
<br /> ments under the Note,or cure eny default thereundar or hereunder.Any unapplled funds shall be paid to Trustor. � ,x,;�,;.
<br /> 8.P�rformancs by Lendor.Upon the occurronce of an Event oi Detault hereunder, or it any act is taken or legal proceeding � • ���L-,;;�,
<br /> commanr.od which mAterially aNects Lender's interest in the Property, Lender may in Its own discretion,but without obifgatlon to do so, � _ ••~ `•'_
<br /> " '� and without notice to or demand upon Trustor and without releasing Trustor from eny obligatfon,do any act which Tru�tor has agreed :_��^`
<br /> �w� bul failed to do and msy also do any other act it deems necessery to protect the security hereof. Trustor shall, immediately upon� „��__
<br /> ,�,,, demand therefor by Lander,pay to Lender alI costs end expenaes Incurred end sums expended by Londer In cannectlon with the exer- ` _
<br /> ' cise by Lender of the•foregoing rights,together with Interest thereon et tha default rate provided in the Note,which shall be edded to r� -_
<br /> the indebtedness secured hereby.Lender shell not Incur any Ilabiliry because of anything It mey do or omit to do hereunder. --
<br /> 8. Hezardou� M�teriais. Trustor shall keep the Property In complience wllh aU appliceble laws, ordinances end regulations ,---
<br /> relatlny to Induetrial hyglena or enviranmonts�l protection(collectively referred to hereln es"Ernfronmental Laws").Trustor shall keep ___
<br /> the Property free from ell substance3 deemed to be hazardous or toxic under any Environmental Laws(colioct�vely refeRed to hereln
<br /> as"Hazardous Materlals').Trustor hereby warranta and represents to Lender that there ere no Hazardous Materials on or under the '.;�_
<br /> Propeny. Trustor hereby agrees to Indemnify and hold harmless Lender,its directors,officers,empioyeas end agents,and any succes-
<br /> sors to Lender's interest,from and egafnst any and all ciaims,damages,losses and ifabtlities arising in connectfon with the presence, -
<br /> use, disposel or transport oi any Hazardous tvtaterials on,under,from or about the Property.THE FOREGOING WARRANTIES AND .,'�=—
<br /> •� REPRESENTATIONS, AND TRUSTOR'S OBUGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE �}-;___—
<br /> RECONVEYANCE OF THIS DEED OF TRUST. �``
<br /> 10. Msipnmsnt ot Rmts.Trustor hereby asaigns to Lender, and grants Lender e securiry mterest fn,all present,future and �;' -
<br /> after arising rents, issues end proflts of the Properly;provided that Trustor ahall,until the occurrence of en Event of Detault,hereunder, �r``—
<br /> have the right to collect and retaln such rents,Issues and rofits as the beCOme due and a able.U on the occurrence of an Event of ��`
<br /> P Y P Y P �: ;__—_
<br /> 4afaull,Lender may,either In person or by agent,w(th or wlthout bringiny any action or proceeding,or by a receiver appointed by a �...---
<br /> - court and without regard to the adequecy of its security,enter upon and take possession of the Properly,or any part thereof,In fts own �"'•
<br /> namo or in lhe name of the Truatee, and do any acts whlch it deems necessary or dealrable to preserve the value, marketabiliry or
<br /> rentabwty oi the Property,or eny part thoreof or interest thereln,or to increase the Income therefrom or protect the securiry hereof and, �'�`_�
<br /> wflh orwithout taking possesylon ot the Property,sue for or otherwise collect lhe rents,issues and profits thereof,including those peat _-
<br /> due and unpaid,by natitying tenants to make payments to Lender.Lender may apply renis, lssues end proflts,less costs and expens- ---
<br /> es of operation and collection including ettomey's fees,ta any indebtedness secured hereby,all In such order as Lender may deter- _
<br /> mine.Tho entering upon and taking possession of the Property, the colloctlon o(such rents, issues end profits, and the appl(cation
<br /> thereof as aforesaid shall not cure or walve any defauit or notice of defauit hereunder or Invaildete eny act done in response to such -
<br /> - - aetauuor pursuan[io sucn notice of deiauii and, nuiwii'.�5in��dir��ti�a urdlnuarca In iassso�on a`!hc propcst��r ar thc co!!ec!lon, ,;;�.•�
<br /> receipt and application of rents, issues or proflts,Trustee and Lender shall be endUed to exercise every right provided for(n any of the 6`���
<br /> Loan Instruments or by law upon occurrence of any Event of Default,Including without Ilmltatfon the right to exercise the power of sele. �.
<br /> Further,Lenders rights and remedies under this paragraph shall be cumulative with,and In no way e Iimitetfon on.Lender's rights and ��.-
<br /> remedies under any assignment oi leases and rents recordod against the Property.Lender, Trustee and the recelver shall be Ilable to �-
<br /> account only for those rents actually received.
<br /> 11.Events of Defauit.The tollowing shall constitute en Event of Default under this Deed of Trust:
<br /> (a)Failure to pay any Installment of principal or interest or any other sum secured hereby when due;
<br /> , (b)A breach of or default under eny provisfon contalned In the Note,thls Deed of Trust,any of the Loan instruments,or any
<br /> � other Ilen or encumbrance upon the Property; �--
<br /> •� (c)A writ of execution or attachment or any similar process shell be entered egainst Trustor which shall become a Ilen on [.
<br /> fhe Property or any portlon thereof or Interast therefn;
<br /> • (d)There shall be filed by or egainst Trustor or Borrower an action under any presenf or future federai,stete or other statute, �<'
<br /> � law or repulatlon relating to hankruptcy,Insolvency or other reliet for dobtore;or there shali be appolnted any trustee,receiver or �:_
<br /> Ilquidator ot Trustor or Borrower or of eil or any part of the Property,or the rents,Issues or proflts thereof,or Trustor or Borrower � '
<br /> ., shall make any genaral assignment for the beneflt of creditors;
<br /> (e) T he sa le,tr a n s f e r, l e a s e, a s s i g n m en t, c anve yance or further encumbrance of all or an y part of or an y interest In the �;rt
<br /> . Property,efther voluntarily or involuntarily,without the express written consent of Lender;provided that Trustor shall be permit- -n
<br /> ted to execute a lease of the Property that does not contain an option to purchase and the term o(which does not sxcoed onE E
<br /> E"'��"-�--
<br /> . year; �:_,�_ –
<br />__ , (�Abandonmont of the Property;or a�i�t
<br /> (g) If Trustor Is not an ind(vidual,the issuance, sale,transfer, assignment, conveyance or encumbrance of more then(if a k -w
<br /> corporation)a total of percent of Its issued and outstending stock,or(if a partnershlp)a total of per- { -
<br /> cent of partnership Interests, or(If a Ilmited Ilabiifty company)a total of percont of the Iimited Ilebiifty comp2- 4
<br /> ny interests or voting rights during tho perlod this Deed oi Trust ramalns a lien on the property.
<br /> 12.Remedtes;Acceleretlon Upon Default.In the event of eny Event of Default Lender may,vdthout notice except as required -_-
<br /> by law,declare all indebtedness secured hereby to be due end payabio and the same shall thereupon become due and payable wlth- _--–
<br /> out any presentment,demand,pratest or notice of any kind.Thoreafter Lender may: __
<br /> (a)Demand that Trustee exerctse the POWER OF SALE granted hereln,and Trustee shali thereafter cause Trustor's inter- =-
<br /> est In the Property to ba sold and the proceeds to be distributed,all In the menner provided fn the Nebreske Trust Deeds Act; ��.^`
<br /> (b) Exercise any and all rights provided tor in any of the Loan Instrumenta or by Iaw upon occurrence ot any Event of _
<br /> Dofault and
<br /> (c)Commence an action to fore�lose this Deed of Trust as a mortgage,appoint a receiver,or specitically enforce any of the
<br /> covenants hereof.
<br /> No remedy herefn conferred upon or reserved to Trustee or Lender is intended ta be exclusive oi eny ofher ramedy herefn,in the Loan
<br /> I instruments or by law provided or permitted,but each shall be cumulative, shall be in additlon to every other remedy given hereunder,
<br /> fn the Loan Instrumonts or now or hereafter existing at law or fn equity or by statute,and may be exercfsed r,oncurrently,Independently
<br /> ' or succesively.
<br /> j '13.Trustee.The Trustee may resign at any time without cause,and Lender may at any time and without cause appoint a suc- �
<br /> ' CessOt O�SUbsdtute TNStoe.Tfustee shall not De IIEIple to 8ny party, inciuding wimoui iimiiaiion Lclndar,Sorrowar,i rusiur u� n�iy Nui- --- --- -�
<br /> � chaser of tho Property,for any Ioss or damape unless due to reckiess or wiliful miscr�nduct, and shatl not be requlred to take any action
<br /> � in conn�ction with the enforcement of this Deed of Trust unless indemnified,in writing,(or all costs, compensation or expenses which
<br /> , may bo associated therewith. In addition,Trustea may become a purchaser.at any saleof the Proparty Qudicial or under the power of
<br /> � sale granled herein); postpone the sale of all or eny portlon oi the Property,as provided by law;or sell the Property as a whole,or in
<br /> separate parcels or lots at Trustee's discretion.
<br /> i 'I 4.Foes and Expenses.In the event Trustee sells the Property by exercfse of power of sale,Trustee shall be entitled to apply
<br /> ! any sale proceeds first to paymont of all costs and expenses of Qxercising power o(sale,includfng all Trustee's fee3,and Lender's and
<br /> : Trustee's attornoy's fees, actually incurred ta extent permitted by applicable law.In the event Borrower or Trustor exercises any right
<br /> provided by law to cure an Event of Default.Lender shall be entitled to recover from Trustor atl costs and expenses actually incurred as
<br /> ' a result of Trustor's default,including without limitatfon all Trustee's and attorney's fees,lo the extont pormittad by applicable law. �
<br /> - 15.Future Advances. Upon request of Borrower, Londer may, ot ils option, rnake;.jddilional and fulure advances and rQad-
<br /> vances to Borrowor.Such advanCes and readvances,with interest thereon,shall be secured by lhis Deed of Trust.At no time shall the
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