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89-- 102126
<br />ithe Pn,ferty is so taken or damaged, Lender shall have the option, in its sole and absolute discretion, to aPP1Y all such Pro
<br />after d --ducting Oerefrom all costs and expenses incurred by it in connect-on with such Proceeds, upon any indebtedness secured
<br />hereby and in such order as Lender may determine, or io apply all such Proceeds. after such deductions. to the restoration of the
<br />Property upon such conditions as fender may determine. Any application of Proceeds to indebted.-tess strap 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 />Trustor.
<br />8. Performance by Lender. Upo•i the occurrence of an Event of Defaulthereunder, or it 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 to do
<br />so, and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor has
<br />agreed but fails to do and may alsd do any other act it deerrs necessary to protect the security hereof. Trustor shalt, immediately
<br />upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection wi'h
<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. N,azardous Materials. Trustor 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'). Trustor shall
<br />keep the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws ( cc4lectively referred to
<br />herein as "Hazardous Materials "). Trustor hereby warrants and represents to Lender that there are no Hazaraous Materials on or
<br />ender the Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees 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 Property. THE FOREGOING
<br />WARRANTIES AND REPRESENTATIONS. AND TRUSTOP,'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL
<br />SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br />10. Assignment of Rents. Trustor hereby assigns to Lender the rents, issues and profits of the Property provided that Trustor
<br />shall, until the occurrence of an Event of Default hereunder, have the right to collect and retain such rents. issues and profits as they
<br />become due and payable. Upon the occurrence of an Event of Default, Lender may, either in person or by agent, with or without
<br />i bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security, enter
<br />upon and eke 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 desirahle to preserve the value, marketability or rentability of the Property, or any part thereof or interest therein,
<br />increase the incue therefrom or protect the security hereof and, with or without taking possess :c. ^. of the Property. sue for or
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<br />otherwise collect the rent=, issues and profits thereof, including those past due and unpaid, and apply the sarne, less costs and
<br />f expenses of operation and collection including attorneys' fees; upon any indebtedness secured hereby, all in such order as Lender
<br />may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits and the
<br />application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done in
<br />i response to such default or pursuant to such notice of default and, notwithstanding the continuance in possession of the Property or
<br />the collection, receipt and application of rents, issues or profits, and Trustee and Lender shall be entitled to exercise every right
<br />provided for in any of the Loan Instruments or by law upon occurrence of any Event of Default, including without limitation the right
<br />to exercise the power of sale. Further, Lender's rights and remedies under this paragraph shall be cumulative with, and in no way a
<br />I limitation on, Lender's rights and remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee
<br />t and the receiver shall be liable to account only for those rents actually received.
<br />? 11. Events of Default. The following shall constitu!e an Event of Default under this Deed of Trust:
<br />(a) Failure to pay 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 Note, 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 or attachment or any similar process shall be entered against Trustor which shall become a lien on
<br />the Property or any portion thereof or interest therein;
<br />(d) There shalt be filed by or against Trustor or Borrower an action under any present or future federal, state or other
<br />stature, 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 cr Borrower or of all or any part of the Property, or the rents, issues 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 />1 Property, either voiuntarily or involuntarily, without the express written consent of Lender, provided that Trustor shall he
<br />1 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 yETr,
<br />(1) Abandonment of the Property; or
<br />(g) If Trustor is not an individual, the issuance, sale, transfer, assignment conveyance or encumbrance e! more than a total
<br />of ____ percent of (if a corporation) its issued and outstanding stock or (if 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; Acceleration Upon Default. In the event of any Event of Default Lender fray, without notice except a5 required by
<br />law, declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable
<br />without 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
<br />interest in the Property to be sold 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 raw upon occurrence of any Event of
<br />Default; and
<br />s (c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically er1!orce 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 permitt ed, �ut each shall be cumulative, shall be in addition to every other remedy given
<br />hereunder, in the Loan Instruments or now or hera.3fter existing at law or in equity or by statute, and may be exercised concurrently,
<br />t independently or successively. r
<br />13. Trustee. The Trustee may resign at any time 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 = +nder, Borrower, Trustor or any
<br />jpurchaser of the Property. for any loss or damage unless due to reckless or willful misconduct, and si�all not be required to take any
<br />1 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 !herewith. In addition, Trustee may becorne a purchaser at any sale of the Property Qudicial or
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<br />under the power of sale granted herein): postpone the sale of all or any portion of the Property, as provided by law; or sell the
<br />i Property as a whole, or in 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
<br />and Trustee's attorney's fees, actualiy incurred to extent permitted by applicable law. In the event Borrower or Trustor exercises any
<br />( right provided by law to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs and experses actually
<br />incurred as a result of Trustoe's default, including without limitation all Trustee's and attorney's lees, to the extent permitted by
<br />applicable law.
<br />( 15. Future Advancus.,}Jpon request of Borrower, Lender may, at its option, make additional and future advances and re-
<br />advances to Borrower. Such advances and readvances, with interest thereon, shall be secured by this Deed of Trust At no time shall
<br />j the principal amount of rho indebtedness secured by this Deed of Trust, not including sums advanced to protect the security of this
<br />i Deed of Trust, exceed the original principal arnount stated herein, or 5 —. whichever is greater.
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