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L r- 89- 10325! 89'+VQTD149 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. 8. Pe tormance 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 Interest In 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. Truster 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 hereby. Lender shall not incur any liability because of anything It may do or omit to do hereunder. A tjusrdous Mateftle. Twelor shall keep the Property in compliance with all applicable laws, ordinances and regulations relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws'7. Truster shall keep the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein as "Hazardous Materials°). Trustor hereby warrants and represents to Lender that there are no Hazardous Materials on or under the Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees and agents, and any successors to Lender's Intereest, from and against any and all claims, damages, losses and liabilities arcing. in connection with the phwnee, use, disposal or transport of any Hazardous Materials on, under., iieom or about -the Propeicey..THE FOREGOING WARRANTIES AND REPREStN- TATIONS, AI D TRUSTOR'S OBLIGATIONS PURSUANT TO THE FORErw4Btt 0INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST. .1 t0. Assignment of Rents. Trustor hece6.assigns to Lender the re.: ?.2s, issues and profits of tftLe Property; provided that Trustor shall, until the occurrence of an Event of Default hereunder, have the right to collect and retain such rents, issues and profits as they become due and payable. Uppm the occurrence of an Event of Default, Lender may, either in person or bj f agent, with or without bringing any action or procae4ing, or by a receiver appointed by a court and without regard to the adequacgc of its security, enter 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 part thereof 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 rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection including attorneys' fees, upon any indebtedness secured hereby, all iri tuch order as Lender may determine. The entering upon and taking possession of the Property, the cotlecton of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done in response to such default or pursuant to such notice of default and, notwithstanding the continuance In possession of the Property or the collection, receipt and application of rents, issues or profits, and Trustee and Lender shatl be entitled to exercise every right provided for in any of the Loan Instruments or by law upon occurrence of any Event of Default, including without limitation the right to exercise the power of sale. Further. Lenders rights and remedies under this paragraph shall be cumulative with, and in no way a limitation on. Lender's rights and remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee e 4 ttte W -giver shall be liable to account only for those rents actually received. 11. Events of Default. The following shall constitute an Event of Default under this Deed df Trust (a) Failure to pay any installment of principal or interest of any other sum secured hereby when due; (b) A breach of or default under any provision contained in the Note, this Deed 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 alien on the Property or any port'son, thereof or interest therein; (d) There shall be filed by or against Trustor or Borrower an action under any present by future federal, state or other statute, law or regulation: relating to bankruptcy, insolvency or other relief for debtors; or theta shall be appointed any trustee, receiver or liquidator of Tureor or Borrower or of all or any part of the Property, or the rents, issues or prct:tts thereof, or Trustor or Borrower shall make any general assignment for the benefit of creditors; (e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or any part of or any interest in the Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be permitted to execute a lease of the Property that does not contain an option to purchase ar4t he term of which does not exceed one year, (q Abandonment of Property; or (g) if Trustor is not an individual, the issuance, sale, transfer, assignment, c=.nveyance or encumbrance of more than a total of percent of (if a corporation) its issued and outstanding stock or (if a partnershl .0) a total of percent of partnership interests during the period this Deed of Trust remains a lien on the Property: . 12. Renwdles; Accebwaf!on Upon Defauft. In the event of any Event of Default U-nder may, without notice except as required by law, declare all indebtedness: secured hereby to be due and payable and the•1ame shall thereupon become due and payable without any presentment, d mand, protest or notice of any kind. Thereafter Lert.. er may: (a) Demand. ttrat Trustee exercise the POWER OF SALT= granted herein, and TrustW, shall thereafter cause; Truster's interest in this Property to be sold and the proceeds to be dish Mite l,'all in the manner provided in the Nebraska Trust Deeds . Act (b) Exercise any grid all rights provided for in any of the Loan Instruments or by iaw 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. TrusUs. 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 (judicial or 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 Property as a whole, or in separate parcels or lots at Trustee's discretion. 14. F1es and Expenses. In the event Trustee sells 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 sale, including all Trustee's fees, and Lender's and Trustee's attorney's fees. 2ct„ally incurred to extent permitted by applicable law. In the event Borrower or Trustor exercises any tight provided by law to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs and expenses actually Incurred as a result of Truster's default, including without limitation all Trustee's and attorney's fees, to the extent permitted by applicable law. 15. Future Advances. Upon request of Borrower, Lender may, at its option. make additional and future advances and re- advances to Borrower. Such advances and readvarrGe9. *jIrl interest tharear.. shalt as secured by iris Deed of Trust. At rrcv time shall the principal amount of the indebtedness secured by this Deed of Trust. not including sums advanced to prootect the security of this Deed of Trust. exceed the original principal amount stated herein, or S. . whichever -s greater 1 1 t I s r� low ,r t I s r� low