|
(e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or any part of or any interest in the
<br />Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be permit-
<br />ted to execute a lease of the Property that does not contain an option to purchase and the term of which does not exceed one
<br />year;
<br />(f) Abandonment of the Property; or
<br />O
<br />(g) If Trustor is not an individual, the issuance, sale, transfer, assignment, conveyance or encumbrance of more than (if a
<br />O
<br />corporation) a total of percent of its issued and outstanding stock, or (if a partnership) a total of per -
<br />cent of partnership interests, or (if a limited liability company) a total of percent of the limited liability compa-
<br />ny interests or voting rights during the period this Deed of Trust remains a lien on the property.
<br />12. Remedies; Acceleration Upon Default. In the event of any Event of Default Lender may, without notice except as required
<br />by law, declare all indebtedness secured hereby to be due and and the same thereupon
<br />I�
<br />payable shall become due and payable with-
<br />out any presentment, demand, protest or notice of any kind. Thereafter Lender may:
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause Trustor's inter-
<br />est in the Property to be sold and the proceeds to be distributed, all in the manner provided in the Nebraska Trust Deeds Act;
<br />(b) Exercise any and all rights provided for in any of the Loan Instruments or by law upon occurrence of any Event of
<br />Default; and
<br />(c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of 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 herein, in the Loan
<br />Instruments or by law provided or permitted, but each shall be cumulative, shall be in
<br />addition to every other remedy given hereunder,
<br />in the Loan Instruments or now or hereafter existing at law or in equity or by statute, and may be exercised concurrently, independently
<br />or succesively.
<br />13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without cause appoint a suc-
<br />cessor or substitute Trustee. Trustee shall not be liable to any party, including without limitation Lender, Borrower, Trustor or any pur-
<br />chaser of the Property, for any loss or damage unless due to reckless or willful misconduct, and be
<br />}
<br />shall not required to take any action
<br />in connection with the enforcement of this Deed of Trust unless indemnified, in writing, for all costs, compensation or expenses which
<br />may be associated therewith. In addition, Trustee may become a purchaser at any sale of the Property (judicial or under the power of
<br />sale granted herein); postpone the sale of all or any portion of 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 />14. Fees and Expenses In the event Trustee sells the Property by exercise of power of sale, Trustee shall be entitled to apply
<br />any sale proceeds first to payment of all costs and expenses of exercising power of sale, including all Trustee's fees, and Lender's and
<br />Trustee's attorney's fees, actually incurred to 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 all costs and expenses actually incurred as
<br />a result of Trustor's default, including without limitation all Trustee's and attorney's fees, to the extent permitted by applicable law.
<br />15. Future Advances. Upon request of Borrower, Lender may, at its option, make additional and future advances and read -
<br />vances to Borrower. Such advances and readvances, with interest.thereon, shall be secured by this Deed of Trust. At no time shall the
<br />principal amount of the indebtedness secured by this Deed of Trust, not including sums advanced to protect the security of this Deed of
<br />Trust, exceed the original principal amount stated herein, or $ 250,000.00 , whichever is greater.
<br />16. Miscellaneous Provisions.
<br />(a) Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this
<br />Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liabili-
<br />ty of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings
<br />against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this
<br />Deed of Trust by reason of any demands made by the original Borrower and Borrower's successors in interest.
<br />(b) Lender's Powers. Without affecting the liability of any other person liable for the payment of any obligation herein men-
<br />tioned, and without affecting the lien or charge of this Deed of Trust upon any portion of the Property not then or theretofore
<br />released as security for the full amount of all unpaid obligations, Lender may, from time to time and without notice (i) release
<br />any person so liable, (ii) extend the maturity or alter any of the terms of any such obligations, (iii) grant other indulgences, (iv)
<br />release or convey, or cause to be released or reconveyed at any time at Lender's option any parcel, portion or all of the
<br />Property, (v) take or release any other or additional security or reconveyed at any time at Lender's option any parcel, portion or
<br />all of the Property, (vi) take or release any other or additional security for any obligation herein mentioned, or (vii) make compo-
<br />sitions of other arrangements with debtors in relation thereto.
<br />(c) Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or oth-
<br />erwise afforded by applicable law, shall,nq be a waiver of or preclude the exercise of any such right or remedy. The procure-
<br />ment of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver or Lender's right to acceler-
<br />ate the maturity of the indebtedness secured by this Deed of Trust
<br />(d) Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein con-
<br />tained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Trustor. All
<br />covenants and agreements of Trustor shall be joint and several. The captions and headings of the paragraphs of this Deed of
<br />Trust are for convenience only and are not to be used to interpret or define the provisions hereof.
<br />(e) Request for Notices. The parties hereby request that a copy of any notice of default hereunder and a copy of any notice
<br />of sale hereunder be mailed to each party to this Deed of Trust at the address set forth above in the manner prescribed by
<br />applicable law. Except for any other notice required under applicable law to be given in another manner, any notice provided for
<br />in this Deed of Trust shall be given by mailing such notice by certified mail addressed to the other parties, at the address set
<br />forth above. Any notice provided for in this Deed of Trust shall be effective upon mailing in the manner designated herein. If
<br />Trustor is more than one person, notice sent to the address set forth above shall be notice to all such persons.
<br />(f) Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Trustor notice prior to any such inspection specifying reasonable cause therefor related to Lender's inter-
<br />est in the Property.
<br />(g) Reconveyance. Upon payment of all sums secured by this Deed of Trust, Lender shall request Trustee to reconvey the
<br />Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this Deed of Trust to
<br />Trustee. Trustee shall reconvey the Property, without warranty and without charge to the person legally entitled thereto. Trustor
<br />shall pay all costs or recordation, if any.
<br />(h) Personal Property; Security Agreement. As additional security for the payment of the Note, Trustor hereby grants
<br />Lender under the Nebraska Uniform Commercial Code a security interest in all fixtures, equipment, and other personal property
<br />used in connection with the real estate or improvements located thereon, and not otherwise declared or deemed to be a part of
<br />the real estate secured hereby. This instrument shall be construed as a Security Agreement under said Code, and the Lender
<br />shall have all the rights and remedies of a secured party under said Code in addition to the rights and remedies under this
<br />paragraph shall be cumulative with, and in no way a limitation on, Lender's rights and remedies under any other security agree-
<br />ment signed by Borrower or Trustor.
<br />(i) Liens and Encumbrances. Trustor hereby warrants and represents that there is no default under the provisions of any
<br />mortgage, deed of trust, lease or purchase contract describing all or any part of the Property, or other contract, instrument or
<br />agreement constituting a lien or encumbrance against all or any part of the Property (collectively, "Liens "), existing as of the
<br />date of this Deed of Trust, and that any and all existing Liens remain unmodified except as disclosed to Lender in Trustor's writ-
<br />ten disclosure of liens and encumbrances provided for herein. Trustor shall timely perform all of Trustor's obligations,
<br />covenants, representations and warranties under any and all existing and future Liens, shall promptly forward to Lender copies
<br />of all notices of default sent in connection with any and all existing or future Liens, and shall not without Lender's prior written
<br />consent in any manner modify the provisions of or allow any future advances under any existing or future liens.
<br />(j) Applications of Payments. Unless otherwise required by law, sums paid to Lender hereunder, including without imita-
<br />tion payments of principal and interest, insurance proceeds, condemnation proceeds and rents and profits, shall be applied by
<br />Lender to the amounts due and owing from Trustor and borrower in such order as Lender in its sole discretion deems desir-
<br />able.
<br />(k) Severability. If any provision of this Deed of Trust conflicts with applicable law or is declared invalid or otherwise unen-
<br />
|