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102401 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. Any unapplied funds shall be paid to Truster. S. Perloneanee by Lender. Upon the occurrence of an Event of Default hereunder, or if any act is taken or legal proceeding commenced which materially affects Lender's interestin the Property. Lender may in its own discretion, but without obligation to do `. so, and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor has agreed but fails to do and may also do any other act it deems necessary to protect the security hereof_ Trustor shall, immediately) upon demand therefor 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 default rate provided in the Note, which shall be added to the indebtedness secured they. Lender sFiall .rat figcur any liability beeause.of anything it may do or omit to do hereunder. 9. Hazardous Materials, Trustor sh3'.( nee tf ,e Property . 5mptlarcE *dh all applicable laws, ordinances and regulations relating to industrial hygiene or envir�rt mental o.-atection (cc- " ;k very. ref"ed to herein as "Environmental Laws'). Trustor zh�-ft keep the Property free from all substarbes - deemed to be hazy-dams or toxic under any Environmental Laws (collectively referred to herein as "Hazardous Materials'). Tr,. ta-, hereby warrants amt,--:resents to Lender that there are no Hazardous Materials on or under the Property. Trustor hereby ao- :-af �.'o indemnify and hold taarmless Lender, its directors, officers, employees and agents, and any successors to Lender's interest, iii: , ^d against any and all claims, damages, losses and liabilities arising in connection With the presence. use, disposal or transet7rt of any hazardous Materials on; ij. x. er, from or about the Property. THE FOREGO'iNia ` > WARRANTIES AND REPRESENTATIONS ANI3 t—K STOR'S OBLIGATIONS 4 `UASUANT TO THE FOREGOING INDEMNITY,, SKALL. SURVIVE RECONVEYANCE OF THIS DIETE-D OF TRUST 10. Assignment of Rents. Trus"a : :v`tereby assigns to Lender the rents, issues and pro rs of the Property; provia that Trustor shall, until the occurrence of an Everwof Default hill; pander, have the right to collect and retain such rents, issues and profits as UL income due and payable. Upon the occurrence er ai Event of Default, Lender may, either in person or by agent, with or ' bringing any action or proceeding, or by a receKee appointed by a court and without regard to the adequacy of its security, aq w, 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 deems necessary or desirable to preserve the value, marketability or rentability of the Property, or any partthereof or interest therein, increase the income therefrom or protect the security hereof and, with or without taking possession of the Property. sue for or otherwise collect the rats, issues and profits thereof, including those past due and unpaid, and apply the same, less costs a. : expense,, it operation a-itcollectlon including attorneys fees, upon any indebtedness secured hereby, all in such order as Land& may determine. The eM n b upon and taking possession of the Property, the collection of such rents, issues and profits and Via m application thereof as aforesaid, s!: :,1. not cure or waive any default or notice of defa�m,: iereunder or invalidate any act done in i responsetosuch defaultor pursuartto such notice of default and, notwithstanding theGc+- !iraance inpossessionof the Properlyor ' the collection, receipt and application of rents, issues or profits, and Trustee and 7 e-t44q- `l-all be entitled to exerts° every right provided for in any of the Loan Instruments or by law upon occurrence of anyEva�' includirg without limitation the right to exercise the power of sate. Further. Lender's rights and remedies under th.3 be c�Tulative with, and in no way a limitation on, Lender's rights and remedies under any assignment of leases an rents rec: •-d -�d against the Property. Lender, Trustee ' and the receiver shall be liable to account only for those rents actually recer,ed. 11. Events of Default. The following shall constitute an Event of Default under t -'s. Deed of Trust: —•�, (a) Failure to pay any, in3tathneni of principal ur iniCVest of any othei si:!n sev;red hereby when clue, . (b) A breach of or default under any provision contained in the Note, th s -) eed of Trust, any of the Loan Instruments, or any other lien or encumbrance upon the Property; (c) A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a lien on the Property or any portion thereof or interest therein; (d) There shall be filed by or against Trustor or Borrower an action under a:,t present or future federal, state or other statute, taw or regulation relating to bankruptcy, insolvency or other relief for debta-s• or there shall be appointed any trustee, 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 or Borrower shall make any general assignment for the benefit of creditors; (,f:' The sate, transfer, lease, assignment, conveyance or further encumbrance of a'I Ic any part of or any interest in the — Prcgernj, either voluntarily or involuntarily, without the express written consent of Lender, provided that Trustor shall be perrmttlw to execute a lease of the Property that does not contain an option to purchase and the term of which does not exceed one year; (f) Abandonmia if of the Property; or Am (g) If Trustor rs rct an individual, the issuance, sale. transfer, assigriment, conveyance or encumbrance of more than a t zit-i of --- - percent of (if a ccrpc ration) its issued and outstanding st. .Ick or (if a pa. tnership) a total of FercAer,t of Carttership interests during the period this Deed of Trust remains a tics: ^ on the Property. 12. Remadles; Acceleration Upon Default. In the event of any Event of Default Lender may, without nr_tice except as required by law, declare all indebtedness secured hereby to be due and payable and itle same shall thereuprnw ht :come due and payable without any presentment, demand, protest or notice of any kind. Therea'ter Lender may: (a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereaf ur cause Trustoe's interest in the Property to be sold and the proceeds to be distributed, all in the manr.,3r provided in the Nebia3k a Trust Deeds Act; (b) Exercise any and all rights provided for in any of the Loan instruments or by law upon occurrence of any Event of Default; and (c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof. No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein, in the Loan Instruments or by law provided or permitted. but each shall be cumulative. shall be in addition to every other remedy given hereunder, in the Loan instruments or now or hereafter existing at law or in equity or by statute, and may be exercised concurrently. independently or successively. 13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without cause appoint a successor or substitute Trustee. Trustee shall not be liable to any party, including without limitation Lender. Borrower. Trustor or any purchaser of the property, for any loss or damage unless due to reckless or willful misconduct, and shall not be required to take any action in connection with the enforcement of this Deed of Trust unless indemnified, in writing, for all costs, compensation or expenses which may be associated therewith. In addition. Trustee may become a purchaser at any sale of the Property budicial or under the power of sale granted herein); postpone the sate of all or any portion of trio Property, as provided by taw; or seii the Property as a whole. or in separate venters or rots at r e Pro erty by ex 14. Fees and E:penaaa. In the event Trustee setts the Property by exercise of power of sale. Trustee shall be entitled to apply any sate proceeds first to payment of all costs and expenses of exercising power of sate. including ali Trustee's fees, and lender's and Trustee's attorney's fees, actually Incurred to extent permitted by applicable law in the event Borrower or Trustor exercises any right provided by law to cure an Event of Default. Lender shall bo entitled to recover from Trustor all costs and expenses tactually incurred its a result of Trustor's default, Including .vithout Ilrnitation all Trustees and attorneys fees. to the extent permitted by applicable taw 15 Future Advancos. Upon-+equest of Horfo-wet Lender may. at Its option, make additional and futurL, ildvunces and re advancesto Borrower Such adaancer..nn8 readvcuiccs, rnth Interest thereon, shalt be secured by this Deed cl Yet it lit rr ran *e ,NW1 lho principal amount of trip nrdflbtpdntl9, st7LUr6d try tnls Deed of Trust not Inciucjtng S :,rns adrarced tc p ra'ect Ilan sCcur ty if tins Deed of Trust, pxce+,d tho or:6-na; principal afw,unt S=ilted herein. or j cJWtiter Ar- - •t