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89--- 102877
<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 />I 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 />Trustor
<br />S. Pef imance by Lender. Upon the occurrence of an Event of Default hereunder, 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 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 falls IQ 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 try 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 Materials. Trustor shall keep the Property in compliance with all applicable lc ;:c, crdinQne— 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 taws (collectively referred to
<br />herein as "Hazardous Materials ") 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, 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 TRUSTOR'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 />bringing an)l action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security, enter
<br />upon and take possession of the Property. or and 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. marketability or rentability of the Property, or any part thereof or interest therein.
<br />Incrn-ase the Income therefrom or protect the security hereof and, with or without taking possession of the Property, sue for or
<br />othermse collect the rents, Issues and profits thereof, including those past due and unpaid, and apply the same, less costa and
<br />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 Propels`(. the collection of such rents. Issues and profits and the
<br />application thereof as aforesaid. Shan not cure or waive any default cr• •rcttce of default hereunder or Invalidate any act done in
<br />response to such default or pursuant to such notice of default and, the continuance in possession of the Property or.
<br />the collection, receipt and application of rents. Issues or profits, and T>•,istee aQ 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 r,1f 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 />limitation on. Lender's rights and remedies 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 />1l, Events of Defarlif. The foiiowing shaii GVnsitiute art Everti ctrl Dulault uituei ati$ Deed of Tfust
<br />(a) Failure to pay any installment of principal or Interest of any other sum secured hereby when due;
<br />(b) A breach of er defa!Ift tnrigr any provision conta:ned 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 wri:tot exibcution or attachment or any similar process. shall be entered against Trustor which shall become alien on
<br />the Property or sal portion thereof or Interest therein.
<br />(d) Theie shall be filed by or against TrLStor or Ber•o.+ref an action under any present or future federal, state or-other
<br />statute, law or regulation relating to bankruptcy. Insolvency or ct',.er relief for debtors, or there shall be appointed any trustee,
<br />eceiver or liquidator of Trustor or Borrower or of all or any part ct -6 Ff opePiy. or the rents, issues cr•profits thereof, or Trustor
<br />or Borrower shall make any general assignment for the benefit; & creditors;
<br />(e) The sale, transfer. lease. assignment, conveyance or YurFer 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 corta�m an option to purchase and the term oll,which does not exceed
<br />one year;
<br />(f) Abandonment of the Property; or
<br />(g) 1! Trustor is not an individual, the Issuance, sale, transfer, assignment, conveyance or encumbrance of more than a total
<br />of ^ percent of (it a corporatron) Its Issued and outstatidil7g stock or (if a partnership) a total of percent of
<br />partnersti.p Interests during the period this Deed ct trust remains a lien on the Property.
<br />12. Remedies; AcceleraWn Upon Default. In the e++er^•t of any Event of Default Lender may, without notice except as required by
<br />laws, declare all indebtedness secured r.ereby to be die and payable and the same shall thereupon becornP due and payable
<br />without any presertment, demand, protest or notice of any kird. ThE? eaafter Lender may:
<br />(a) Derr 4 that Trustee exercise the POWER OF SALE. grained herein, and Trustee shall thereafter cause Trustor's
<br />interest ors U7:e Rroperty to be sold and the proceeds to be dlstr.ti ted, all In the manner provided in the Nebraska Trust Deeds
<br />Act:
<br />(b) fix( :rise any and all rights provided for i.r. ally of the Loan Instruments or by law upon occurrence of any Event of
<br />Defauit a:rd
<br />(c) Commence an action to foreclose •�::s Dee�J`of Trust as a mortgage. appoint a receiver, or specifically enforce any of the
<br />covenants hereof.
<br />No remedy herein conferred upon or resemmd'tc+Tr:ume or Lender is Intended to be exclusive of any other remedy hereinf,in.the
<br />Loan Instruments or by law provided or permitted: but: each shall be cumulative• shall be in addition to every other rerri?iSy,gwRn
<br />hereunder, in the Loan Instruments or now or hereafter Kexisttng at law or inequity or by statute, and may be exercised condlarrently.
<br />Independently or successively
<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 parry. 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 shall not be required to take any
<br />action to 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 the Property oudicial or
<br />under the power of sale granted hereinl, postpone 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 lots at Trustee's discretion
<br />L 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 Lenders
<br />and Trustee's attorneys tees. actually incurred to extent permitted by applicable law In the event Borrower or Trustor exercises arty
<br />right provided by law to cure an Event of Default Lender shall be entitled to recover tr -jm Trustor all LUSts and expenses actually
<br />incurred as a result of Trustor 9 default, •nCluding without limitation all Trustee s and ettPrrey•S fees to the extent permitted by
<br />applicable law
<br />Future Advances. upon !eq,lest if Borrower lenrier may at .1S ga'ton r"akL did -tionai tra tt,tury advar -ces and rc,
<br />as i;>:nr,n5 tit RrtrrrnVnr S.Ir h arlv,inr.ns and ratarl� :+nr1'5 IiAh ntr +rstl the /F•fin :. ^.;111 hL' SEit.ured Dv fr''S 1�['E >J .�1 '• • u }t At nn • ni(r yh<rl�
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