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201602415 property in violation of any law, ordinance, or regulation; and shall pay and promptly discharge at Borrower's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the property or any part thereof. 6. Eminent Domain. Lender is hereby assigned all compensate, awards, damages and other payments or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the Property or part thereof, or for conveyance in lieu of condemnation. Lender shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings, and shall also be entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion of the Property is so taken or damaged, Lender shall have the option, in its sole and absolute discretion, to apply all such Proceeds, after deducting therefrom all costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness secured hereby and in such order as Lender may determine, or to apply all such Proceeds, after such deductions, to the restoration of the Property upon such conditions as Lender may determine. Any application of Proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. 7. Performance by Lender. In the event of Borrower's failure to perform any of the covenants herein or make any payments required hereby, or in any act is taken or legal proceeding commenced which materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation to do so, and without notice agreed but failed to do and may also do any other act it deems necessary to protect the security hereof. Borrower shall, immediately upon demand therefore by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by Lender of the foregoing rights, together with interest thereon at the rate provided in the Note, which shall be added to the indebtedness secured hereby. Lender shall not incur any personal liability because of anything it may door omit to do hereunder. 8. Events of Default. The following shall constitute an event of default under this Trust Deed; (a) Failure to pay any installment of principal or interest or any other sum secured hereby when due, or failure to pay when due any other indebtedness of Borrower to Lender; (b) A breach of or default under any provision contained in the Note, this Trust Deed, any document which secures the Note, and any other encumbrance upon the Property; (c) A writ of execution or attachment or any similar process shall be entered against Borrower which shall become a lien on the Property or any portion thereof or interest therein; (d) There shall be filed by or against Borrower an action under any present or future federal, state or other stature, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shall be appointed any trustee, receiver or liquidator of Borrower or all any part of the Property, or the rents, issued or profits thereof, or Borrower shall make any general assignment for the benefit or creditor; (e) The sale, transfer, assignment, conveyance, lease or further encumbrance of all or any part of or any interest in the Property, either voluntarily or involuntarily, without the express written consent of Lender. 9. Remedies; Acceleration Upon Default. In case of any event of default Lender may declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable without any presentment, demand, protest or notice of any kind and Lender may; (a) Demand that Trustee exercise the POWER OF SALE granted herein, and trustee shall thereafter cause Borrower's interest in the Property to be sold and the proceeds to be distributed, all in the manner proved in the Nebraska Trust Deed Act: (b) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part thereof or interest therein, increase the income therefrom or protect the security hereof and, with or without taking possession of the Property, notify any rent party to make payment or sue for or otherwise collect the rents, issues and profits thereof, including those past due and unpaid, whether or not the Beneficiary was previously receiving or collecting rents, and apply the same, less costs and expenses of operation and collection including attorney's fees, upon any indebtedness secured hereby, all in such order as Lender my determine. The entering upon and taking possession of the Property, the collection of such rents, issued and profits and the application thereof a aforesaid, shall not sue or waive any default or notice of default hereunder or invalidated any act done in response to such default or pursuant to such notice or default and, notwithstanding the continuance in possession of the Property or the collection receipt and application of rents, issues or profits, Trustee or Lender shall be entitled to exercise every right provided for in any of the loan instruments or by law upon occurrence of any event of default, including the right to exercise the power of sale; and (c) Commence an action to foreclose this Trust Deed as a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof;