|
i
<br />74:0
<br />ill
<br />ti
<br />• i
<br />89.... 102097
<br />the Property is so taken or damaged. Lender shall have the option, in its sole and absolute discretion, to apply all such Proceeds.
<br />after deducting therefrom all costs and 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 dhte of any payments under the Note, or cure any default thereunder or hereunder. Any unappiied fundsshall be paid to
<br />Trustor. .
<br />8. Parlormanee by Lender. Upon the occurrence of an Event of Delaulthereunder, or if any act is taken or legal proceeding
<br />commenced which materially affects Lender's interest in the Property. Lender may in its own discretion, but without obligation todo
<br />so, and without notice to or demand upon Trustor and without releasing Truster from any obligation, do any act which Tfustor has
<br />agreed but fails to do and may also do any other act it deems necessary to protect the security hereof. Trustor shall. immediately
<br />upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with
<br />the exercise by Lender of the foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be
<br />added to the indebtedness secured hereby. Lender shall not incur any liability because of anything it may do or omit to do
<br />hereunder.
<br />9. Hazardous Malvda gs. Trustor shall keep the Property in compliance with all applicable laws .ordnances and regulations
<br />relating to industrial hirgiene at. environmental protection (collectively referred to herein as "Envirorim , t:La3w Trustor shall
<br />keep the Property fare from all substances deemed to be hazardous or toxic under any Environmental Laws.(cal!etiigMy,referred to
<br />herein as "Hazardous Materials'). Trustor hereby warrants and represents to Lender that there are no Hazardoup.)itdterials on dr.
<br />under the Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors. officers eimployeeeand agenis.Arid
<br />any successors to Lender's interest. from and against any and all claims. damages, losse's and liabHitl6t wising in connection With;
<br />the presence, use, disposal or transport of any hazardous Materials on, under, frommr about a {{',�ir", rty. THE FOREGOING
<br />WARRANTIES AND REPRESENTATIO N& AND TRUSTOAI 'S OBLIGATIONS PURSUANT M- THEFO1�E1zfl1eNGINDEMNITY,SHALL,
<br />SURVItB fiECONVEYANCE OF TH14 DC-ED OF TRUST.
<br />10. Assignment of Rents. Trustocher6by assigns to Lender the rents, issues and profits of the J ribperty; provided that Trustor
<br />shall, until the occurrence of an Event sf Default hereunder, h'atre the right to collect and retain such teens, issues and profits as they
<br />become due and payable. Upon the occurrence of an Event of.Defauit, lender may, eit er in perrirrr.rir by agent, with or without
<br />bringing any action or proceeding, or by a receiver appointed'by a court and without retard to the,*quacy of its security, enter
<br />upon and take possession of the Property, or any part thereof. in its own name or in the name of the Trustee, and do any acts which it
<br />deems necessary or desirable to preserve the value, markelabifit)r or rentability of the Property, or any pail thereof or interest therein.
<br />increase the income therefrom or protect the security hereof and, with or. without taking pogsescldn.nf the Property, sue furor
<br />otherwise collect the rents, issues and profits thereof, Including those pest due and unpaid, and t18'plV the same, less costs and
<br />expenses of operation and collection including attorneys' tees, upon any indebtedness secured iierntsy, all In such order as Lender
<br />may determine. The entering upon and taking possession of the Property, the nollactipn of such arts, issues and profits and the
<br />application thereof as aforesaid, shall -not cure or waive any default or notice of defoulrhWri der or invalidate any act done in
<br />response to such defaulter pursuant to such notice of default and. notwithstanding the ooirtfrsii}uirn#fa possession of the Property or
<br />the collection, receipt and application of-twits, issues or profits, and Trustee and Lender snail be eftilfed to exercise every right
<br />provided for in any of the Loan Instruments.or by taw upon occurrence of,anytfivent of Default, including without limitation the right
<br />to exercise the power of sate. Further, Lender's rights and remedies under,this paragraph shall be cumulative with, and in no way a
<br />limitation on. Lender's rights and remia di4s under any assignment of leases and rents recorded against the Property. Lender, Trustee
<br />and the receiver shall be liable to account only for those rents actually received.
<br />11. Events of Debull. The following shall constitute an Event of Celautl under this Deed of Trust:
<br />(a) Failure to pap any installment 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 Nato, this Deed of Trust, any of the Loan Instruments, or any
<br />other lien or encumbrance upon the Property;
<br />(c) A writ of execution cratiachment or any similar process shall be entered against Trustor which shall become a lien on
<br />the Pretmay, or any portion t)tevet;f or interest therein;
<br />(d; There U!all 12 filed by or against Trustor or Borrower an action under airy present or future federal, state or other
<br />statute, law or re gulali =on relating to bankruptcy, insolvency or other reli;0,f for debtor t;: or there shall be appointed any trustee.
<br />receiver or liquidator of Trustor or Borrower of of all or any part of the Property, or the fertits. issue -j or profits thereof, or Trustor
<br />or Borrower shall make any general assignment for the benefit of creditors;
<br />(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
<br />permitted to execute a lease of the Property that does not contain an option to purchase and the term of which does not exceed
<br />one year;
<br />(fl Abandonment of the Property; or
<br />(g) If Trustor is not an individual, the issuance, sale, transfer, assignment, convey nice or encumbrance than a total
<br />of percent of (d a corporation) its issued and oult,tanding stock or iif a partnership) a t.o!z1 of percent of
<br />partr:eirship interests during the period this Deed of Trust remains a iirn an rlte Property.
<br />12. Ranradas; Acraiaratlon Upon 01Nau1L In the event of any Event of Default Lender n1ay, without notice except as required by
<br />taw, declare rill indai,tt-dness secured hereby to be due and payable and the same 0all thereupon become due and payable
<br />without ar,, pqi sertment, demand, protest or notice of any kind, Thereafter Lender may.
<br />141 Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause Truser's
<br />intervitin the Property to be said and the proceeds to be distributed, all in the manner provided in the Nebraska Trust Deeds
<br />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 />06(auU; and
<br />tc) 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
<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 be exercised concurrently,
<br />indepandently or successively,
<br />13. Truelaa. The Trustee may resign at any time without cause, and Lender may at any tirtie 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 toss or damage unless due to reckless or willful misconduct. and shall not be required to take any
<br />action in connection with the enforcement of this Deed of Trust unless indemnified, in writing. for all costs. compensation or
<br />expenses which may be associated therewith. In addition, Trustee may become a purchaser at any sale of tho Progeny (;udirrai or
<br />under the power of sate granted herein), postpone the sate of all or any portion of the Property. as provided by law, or sell the
<br />PropeM as a whole, or in separate parcels or lots at Trustee's discretion
<br />14 Fe" and Expenses. In the event Trustee sells the Property by exercise of power of sale. Trustee shalt be entitled to apply
<br />any sate proceeds first to payment of ail costs and expenses of exercising power of sate. including all Trustee's fees, and Lender's
<br />and Truslte's at(ofney'sfees. actually incurred to extent permitted by applicable law In the event Borrortrer or Trustor exercises any
<br />right provided bylaw to cure an Event of Default. Lender shalt be entitied to recover from Trustor au costs and expenses actually
<br />incurred as a result of Trusliai s default, including without limitation all Trustees and attorney's fries b 1110 extent permuted by
<br />applicable law
<br />15. Future Advanea. Upon, request of Borrower. Lender may, at its ot)t:an. make addt:anal and f,iture. advances and re.
<br />1dY9frt _(S rr} t ]rrOIYQ! Such advances and readvances. Yriih rnteres! lherE;l!t sna' bL SQCt:tGrd by this C1eed t Trust Af ^() GinE +St„iil
<br />the prrncipal arnrluntof the In (lob twjtrr:s;, secured by this Dee3 of thus/ nett utu ! ^.� 51 TS e��anc r d t J Gt�IeGttrrt 4Et 3riPt Ortr..S
<br />DOW 01 Ttu9t extted tho origin ,11 vla',cipw ar*tUa ^t s! :fed h('!0,n fit Cr
<br />, . r+h Cho-e! ., grea!er
<br />j+
<br />1 , tYA
<br />4
<br />
|