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go. 105619
<br />the Property is to 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 ouch order as Lander rally 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 />i
<br />the due date of any payments under the Note. or cure any default thereunder or hereunder. Any unapplled funds shall be paid to
<br />Trustor.
<br />8. Performance 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 Truster and without releasing Trustor from any obligation, do any act which Trustor has
<br />agreed but fails to do and may also do any other act it deems necessary to protect to security hereof, Truster "If. immediatety
<br />upon demand therefor by Lender, pay b Lender all costs and expenses incurred and Bums expended by Lender in connection with
<br />the exercise by Lender of the foregoing rights, together with interest thereon at ft 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. Itl;srdeus Ifleyn els. Truster shalt keep the Property in compliance with all applicable laws, ordinances and regulations
<br />relating to irrniduntrial hyquene or environmental protection (collectively referred to herein as "Eiivilrpnmental Laws'). Truster shall
<br />keep the IftVarty free from all substances deemed to be hazardous or toxic under any Environimmal Laws (collect irely referred to
<br />herein as "Hazardous Materials "). Truster 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, of!: ,-t rs, employees and agents, and
<br />any surecemors to Lender's interest, from and against any and all claims, damages, losses and Ilaibilmas arising in connection wilt+
<br />the presence, use, disposal or transport of any Hazardous Materials on, under, from or about the Property. THE FOREGOING
<br />WARRAN!i'IES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING 4NDEMNITY, SHALL
<br />SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br />10. Assignment of bents. 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 any action or proceeding. or by a receiver appointed by a court and without regard to the adequacy of its security, enter
<br />i
<br />upon and take possession of the Property. or any part thereof, in its own name or in'he name of the Trustee, and do any acts which It
<br />!
<br />deems necessary or desirable to preserve the value, marketability or rentability of the Property, or any part thereof or interest therein,
<br />increase the income therefrom or protect the security hereof and, with or without taking possession of the Property, sue tot or
<br />otherwise collect the rents, Issue". and profits thereof, including those past due end unpaid, and apply the same. less costs and
<br />I
<br />i
<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 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 />r,
<br />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 r-ight
<br />=T'
<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
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<br />and the receiver shall be liable to account only for those rents actually received.
<br />PZ.
<br />11. Events of Default, The following shall constitute an Event of Default under this Deed of Trust:
<br />esi:F�•
<br />(a) Failure to pay any installment of principal or Interest of any other sum secured hereby when due;
<br />c:
<br />'
<br />(b) A breach of or default under any provision contained in the Note, this Deed of Trust, any o'r the Loan Instruments, or any
<br />a
<br />other lien or encumbrance upon the Property;
<br />(c) A writ of execution or attachment or any similar process shall be enterou against Truster which shall become a hen on
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<br />the Property or any portion thereof or Interest therein,}
<br />(d) There shall be filed by or against Trustor or Burrower ar action under any present or future federal, state or other
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<br />statute, law or regulation relating to bankruptcy. Insolvency or oth,ar relief for debtors; or there shall be appointed any trustee,
<br />receiver or liquidator of Trustor or Borrower or of all or any part of - a Property, or the rents, Issues or profits thereof, or Truster
<br />'
<br />or Borrower shalt make any general assignment for the benefit of creditors;
<br />is) The sale, transfer, lease. assignment, conveyance or further encumbrance of all or any part of or any interest in the
<br />PE�aperty, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be
<br />.:
<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 />(1) Abandonment of the Property; or
<br />(g) If Truster is not an individual, the issuance, sale. transfer, assignment, conveyance or encumbrance �^ more than a total
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<br />of percent of (if a corporation) its issued and outstanding stock or (If a partnership) a total of ___ _ percent of
<br />partnership intomsts during the period this Deed of Trust remains a lien on the Property
<br />12. RemedlM; Axcolionstion Upon Defattts. in the event of any Event of Default lender may, wimcut notice except as requued by
<br />law, declare all indebtedness secured hereby :c be dve and payable and the same shall thereupon c'ecCme due and payable
<br />Without any presentment. dernamt.irotest or notice ol . ant; i.,nd. Thereafter Lender maii
<br />iai Demand that Trustee exercise the POWER Oc SALE granted harem. a y Trustee N; ^a t trereatto cause Trustor'a
<br />,.,
<br />interest in this Property to be sold and the proceeds to oe distributed, all in the manner piovw: ed in the Necraska 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 />Default and
<br />(c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the
<br />.
<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 low provided or permitted. but each shall be .:emulative. shall be in addition to every other remedy given
<br />hereunder, in the Loan Instruments or now or hereatme existing at law or ui equity or by statute. and may be exercised concurrently,
<br />wi0ependently, or successively
<br />13. Trustee. The Trustee may resign at any time without cause. and lender may at any lime 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 lessor 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, lot all costs. compensation or
<br />expenses which may be associated therewith In addition. Trustee may become a purchaser at any sale of the Property oudreial or
<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 />Property as a whole, or in separate parcels or lots at Trustees discretion
<br />14. Res and Expenses. In the event Trustee sells the Property by exercise of power of sale. Trustee shall be entitled to apply
<br />any solo proceeds first to payment of flit costs and expenses of exercising power of safe including an TruSte,Et6 s fees. and I.ender s
<br />Trustee's to by applicable law In the eve,i) t3orrower Or Trustor exercises any
<br />and attorneys fees. actually incurred extent permitted
<br />right provided bylaw to cure an Event of Default. Lender shall be entitled to recover from Trustor all u)SIS ar'd exVNnses actually
<br />r'
<br />incurred as a result of Trustor's default, including without limitation all trustee S and attorney s fees to the Wxtent permitted by
<br />applicable law
<br />15 future Advances. Upon request et Borrower. Lender may at its option. make add,tiurial .end tulure ddvant es and re
<br />advances to Borrower Such advances and readvances. with interest thereon shall bee se-, un>d ti, ti, s [)"%j ,,t T nisi At no i time shall
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<br />the principal amount of the indebtedness seL eyed by this Ueud ,N T,i�.t ,,.'t .,•, .,,1 114 1, .1• , .r 1.•r „•1 , , t h,r ".' ,,.r� , t#"
<br />Deed of Trust exceed the original principal amount stated hereni i" $ w „t r r,v,^ 'ti g „•atpr
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