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<br />89' 1 02078
<br />the Property is so taken or damaged tender shall have the option, in its sale and absolute discretion, to apply all such Proceeds,
<br />affsr deducting therefrom all costsend expenses incurred by it in connection with such Proceeds, upon any indebtedness secured
<br />hereby and in such order as Lender may determine. or to apply all such Proceeds, after such deductions, to the restoration of the
<br />Property'upon such conditions as Lender may determine. Any application of Proceeds to indebtedness shall not extend or postpone
<br />the due date of any payments under the Note. or cure any default thereunder or hereunder. Any unapplied funds shall be paid to
<br />Truster.
<br />8 Vedoneanee by Lender. Uport,the occurrence of an Event of Defaultbereunder. or if any act Is taken or legal proceeding
<br />commenced which materially affects tender's interest in the Property, Lender may in its own discretion, but without obligation to do
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<br />so, and without notici o o� demand upon Truster and without releasing Truster from any obligation, do any act which Truster has
<br />agreed but fails to do, and may also do any.other act it deems necessary to protect the security hereof. Truster shall, immediately
<br />upon demand therefor fay Lender. pay.to Lender all costs and expenses Incurred and sumsexpended by Lender in connection with
<br />the exercise by Lendei of the foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be
<br />Added to the indebtedness pecur d:hereby. Lender shall not incur any liability because of anything it may do or omit to do
<br />hereunder.
<br />9. Hazardous Mattedels. Truster shall keep the Property in compliance with all applicable laws, ordinances and regulations
<br />relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws'). Truster shall
<br />keep the Property free from all s ibstances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to
<br />herein as "Hazardous Materia(s'j-'Trustor hereby warrants and represents to Lender that there are no Hazardous Materials on or
<br />under the Property. Trustor hereby agrees to indemnity and hold harmless Lender, its directors, officers, empiil ec-s and agents, and
<br />any successors to Lender's interest; from and against any and all claims, damages, losses and liabilities arising in connection with
<br />the presence, use, disposal'or transport of any Hazardous Materials on, under, from or about the 0voperty: THE FOREGOING
<br />WARRANTIES AND REPRESENTATIONS, AND TRUSTOR.'s OBLIGATIONS PURSUANT TO THE FOASGOING NIDEMNiTY, SHALL
<br />SURVIVE RECONVEYANCE OF THIS DEED df= TRUST:
<br />tCk_ Assignment of Ranh. Trustor hereby assigns tz•'Lerder the rents. issues and profits of the Property; provded that Trustor
<br />shati,;ur,10 the occurrence of an Event of Default hereunQrtr,.• t-tave the right to collect and retain such rents, issues and profits asthey
<br />became due and payable, Upon the occurrence; d an.Ea at of Default, Lender may, either in person or by agent, with or without
<br />bringing any action or proceeding, or by a receiverappointed by a court and without regard to the adequacy of its security, enter
<br />upon and take possmzion of the Property, or any part thereof, in its iNnnti s or in the name of the Trustee, and do any acts which it
<br />deems necessary or desirable to preserve the value, marked,:, liry ci*re- Msbility of the Property, or any part thereof or interest therein,
<br />increase the income therefrom or protect the security j -arxt a:'id, with or without taking possession of the Property, sue for or
<br />otherwise collect the rents, issues and profits t;`tEr`of, . rj1%4ng those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection includingsltu: e34.' fees, upon any indebtedness secured hereby, all in such orderas Lender
<br />may determine. The entering upon and takirc .�Oasession of the Property, the collection of such refite; issues and profits and the
<br />application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder vc , invalidate any act done in
<br />response to such defaulter pursuant to such notice of default and, notwithstanding the continuance in possession of the Property or
<br />the cum minion, receipt and appt;icsl�fln of rents, issues or profits. and Trustee and Lender shall be entitled to exercise every right
<br />providedtor in any of the Loan 1, -sue uments or by law upon occurrence of any Event of Default, including without limitation the right
<br />to exercise the povf&, of sale. Further. Lender's rights and remedies under this paragraph shall be cumulative with, and in no W. ay a
<br />limitation on, Lender's rights and remedies under any assignment of teases and rents recorded against the Property. Lender, Trustee
<br />and the receiver sF.V- the liable to account only for those rents actually received.
<br />11. Events of Default. The fili ?:awing shall constitute an Event of Default under this Deed of Trust:
<br />(a) Failure to pay any rt-raltment of principal or interest of any other sum secured hereby when due;
<br />(b) A breach of or default under any provision contained in the Note, this Deed of Trust, any of the Loan Instruments, or any
<br />other lien or encumbrance upon the Prcpiu-y;
<br />(c) A writ of execution or attachment ar zany similar process shall be entered against Trust. kr which shall become a lien on
<br />the Property or any portion thereof or interest therein;
<br />(d) There shall be filed by or against Trustor or ,arrvwer an action under any present cr future federal, state or other
<br />statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shall be appointed any trustee,
<br />receiver or liquidator of Trustor or Borrower or of all or any part of the Property, or the rents, issues or profits thereof, or Trustor
<br />or Borrower shall. ,nake any general assignment for the benefit of cfeflitors;
<br />(e) The sale, transfer, lease, assignment, conveyance or further r- ttcumbrance of all or any part of or any interest in (lie
<br />Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be
<br />permitted to execute a lease 0the Property that does not contain an option to pu.r d ase and the term of whirls does not exceed
<br />one year,
<br />(f) Abandonment of the Pt cperty; or .
<br />(g) If Trustor is not an individual. the Issuance. safe, transfer, assignment; ou-,N!-eyance or encumbrance of more than atotal
<br />of --- percent of (if a corperatior; Its issued and outstanding stock or cif a partnership) a total of percent of
<br />partnership interests during the period this Deed of Trust remains a lien on the Property.
<br />12. Remedies; AceeWallon upon Detatrlt. Ir the event of any Event of Default Lender may, without notice except as required by
<br />law, declare all indebtedness secured hereby tc be due and payable and the same shall thereupon become due and payable
<br />without any presentment, demand, protest or !throe of any kind. Thereaker Lender may:
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein, and Truaiee shall thereafter cause Truster's
<br />interrest in the Property to be sold and the proceeds to be distributed. all in the manner provided in the Nebraska Trust Deeds
<br />A.ef;
<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 foreclG = 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
<br />Loan Instruments or by law provided or permitted, but each shall be cumulative, shall be In addition to every other remedy given
<br />hereunder. in the Loan Instruments or now or hereafter existing at law or in equity or by statute, and may he exercised concurrently,
<br />independently or successively.
<br />13. Tfuaiee. The Trustee may resign at any trine without cause_ and Lender may at any time and Without cause appoint a
<br />successor or substitute Trustee. Trustee shall not be liable to any party, Including without limitation Lender, Borrower, Trustor or any
<br />purchaser of the Property, for any loss or damage, unless due to reckless or willful misconduct, and shalt not be required to takeany
<br />action in connection with the enforcement of this Dead of Trust unless indemnified, in writing, for all -costs. compensation or
<br />expenses winch may be associated therewith. I't eadliitittl Trustee may become a purchaser at any sate of the Property (judicial or
<br />under the power of sate granted herein); postp,,it the sale of all or any portion of the Property, as provided by law. or sell the
<br />Property as a whole, or in separate parcels or fots at Trustee's discretion.
<br />14. Fees and Expainses. in the event Trustea sells the Property by exercise of power of sale, Trustee shall be entitled to apply
<br />any gatu proceeds first to payment of all costs and expenses of exercising p':Nrer of sale, including all Trustees fees. and Lender s
<br />and t'rustee's attorney's foes. actually incurred to extent permitted by applicable law in the event Borrower or Trustor egercisesany
<br />right provided by law to cure an Event of Default. Lender shall be entitled to recover from Trustor all costs and expenses actually
<br />Incurred ao a result of Tr;awat's default including without I,mitatlon all Trustees and attorney's fees to the extent permitted by
<br />applicable law
<br />f.5 Future Advances. €:pon raquost of Borrower. Lender may. at its t)p'.itin, rnakr: addition,if Ind f.atrut? advances and ou
<br />aT4arices to Boyro over Such advancers and readvarces. with interest 1hereo -. 5> F:: be sect -!v l r,y mi< -teed of T + list At r:(r l !,r(- sl,jt;i
<br />the principal amount (it Pili± idebtrgr. InoS toSetui ddbytrii sI)ee:jo fTruSt. rot - nc. 5,, m5id.. 1nrCd r'.t:,utelt!"i!sucurovi'tli, ti
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