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1111 �
<br />until the Secured Debts are satisfied. Grantor agrees that Lender is entitled to notify Grantor or Grantor's
<br />tenants to make payments of Rents due or to become due directly to Lender after such recording, however,
<br />Lender agrees not to notify Grantor's tenants until Grantor defaults and Lender notifies Grantor of the default
<br />and demands that Grantor and Grantor's tenants pay all Rents due or to become due directly to Lender. On
<br />receiving the notice of default, Grantor will endorse and deliver to Lender any payments of Rents.
<br />Grantor warrants that no default exists under the Leases or any applicable landlord law. Grantor also agrees to
<br />maintain, and to require the tenants to comply with, the Leases and any applicable law. Grantor will promptly
<br />notify Lender of any noncompliance. If Grantor neglects or refuses to enforce compliance with the terms of the
<br />Leases, then Lender or Trustee may opt to enforce compliance. Grantor will obtain Lender's written
<br />authorization before Grantor consents to sublet, modify, cancel, or otherwise alter the Leases, to accept the
<br />surrender of the Property covered by such Leases (unless the Leases so require), or to assign, compromise or
<br />encumber the Leases or any future Rents. If Lender acts to manage, protect and preserve the Property, Lender
<br />does not assume or become liable for its maintenance, depreciation, or other losses or damages, except those
<br />due to Lender's gross negligence or intentional torts. Otherwise, Grantor will hold Lender harmless and
<br />indemnify Lender for any and all liability, loss or damage that Lender may incur as a consequence of the
<br />assignment under this section.
<br />13. DEFAULT. Grantor will be in default if any of the following occur:
<br />A. Payments. Grantor fails to make a payment in full when due.
<br />B. Insolvency. Grantor makes an assignment for the benefit of creditors or becomes insolvent, either because
<br />Grantor's liabilities exceed Grantor's assets or Grantor is unable to pay Grantor's debts as they become due.
<br />C. Death or Incompetency. Grantor dies or is declared incompetent.
<br />D. Failure of Condition or Term. Grantor fails to pay, or perform any condition or to keep any promise or
<br />covenant on this or any debt or agreement Grantor has with Lender.
<br />E. Misrepresentation. Grantor makes any verbal or written statement or provides any financial information
<br />that is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
<br />F. Judgment. Grantor fails to pay or discharge a judgment against Grantor for the payment of money, unless
<br />within ten days of its entry the judgment is either satisfied or a stay of enforcement is granted pending
<br />appeal.
<br />G. Forfeiture. The Property is used in a manner or for a purpose which threatens confiscation by a legal
<br />authority.
<br />H. Name Change. Grantor changes Grantor's name or assumes an additional name without notifying Lender
<br />before making such a change.
<br />I. Property Transfer. Grantor transfers all or a substantial part of Grantor's money or property.
<br />J. Erosion. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly
<br />erodible land or to the conversion of wetlands to produce an agricultural commodity, as further explained by
<br />federal law.
<br />K. Other Instruments. A default occurs under the terms of any instrument evidencing or pertaining to the
<br />Secured Debts.
<br />L. Insecurity. Anything else happens that causes Lender to reasonably believe that Lender will have difficulty
<br />collecting the amount owed under the terms of the Secured Debts or significantly impairs the value of the
<br />Property.
<br />14. REMEDIES. Lender may use any and all remedies Lender has under state or federal law or in any instrument
<br />evidencing or pertaining to the Secured Debts, including, without limitation, the power to sell the Property. Any
<br />amounts advanced on Grantor's behalf will be immediately due and may be added to the balance owing under
<br />the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be available
<br />on Grantor's default.
<br />Subject to any right to cure, required time schedules or other notice rights Grantor may have under federal and
<br />state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately
<br />due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a default or
<br />anytime thereafter.
<br />All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at law
<br />or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial
<br />payment on the Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are filed
<br />will not constitute a waiver of Lender's right to require complete cure of any existing default. By choosing any
<br />one or more of these remedies Lender does not give up Lender's right to use any other remedy. Lender does not
<br />waive a default if Lender chooses not to use a remedy. By electing not to use any remedy, Lender does not
<br />waive Lender's right to later consider the event a default and to use any remedies if the default continues or
<br />happens again.
<br />15. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law,
<br />Grantor agrees to pay all expenses of collection, enforcement or protection of Lender's rights and remedies
<br />under this Security Instrument. Grantor agrees to pay expenses for Lender to inspect and preserve the Property
<br />and for any recordation costs of releasing the Property from this Security Instrument. Expenses include, but are
<br />not limited to, attorneys' fees, court costs and other legal expenses. These expenses are due and payable
<br />immediately. If not paid immediately, these expenses will bear interest from the date of payment until paid in full
<br />at the highest interest rate in effect as provided for in the terms of the Secured Debts. To the extent permitted
<br />by the United States Bankruptcy Code, Grantor agrees to pay the reasonable attorneys' fees Lender incurs to
<br />collect the Secured Debts as awarded by any court exercising jurisdiction under the Bankruptcy Code.
<br />16. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act
<br />(CERCLA), all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions
<br />or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and
<br />(2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant
<br />which has characteristics which render the substance dangerous or potentially dangerous to the public health,
<br />safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous
<br />RUBY H OPP
<br />Nebraska Deed Of Trust InitialsRt N• b
<br />NE/ 2UBBSNO621000000000000004EO000004Fn5 °1996 Bankers Systems, Inc., St. Cloud, MN Page 3
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