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89-- 103724
<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 />of er 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 />Property upon such conditions as Lender may determine. Any application of Proceeds fiOlndebNdneee shalt not extend or postpone
<br />Ow due dais of any payments under the Note, at cure any default thereunder or hereunder. Any unapplied funds shall be paid to
<br />Trustier.
<br />6.'srfsratarlee by tender. Upon the occurrence of an Event of Defaultthereunder, or if any act Is taken or legal proceeding
<br />commenced which maNri'ally affects Lender's interest in the Property, Lender may in Its own discretion, but without obligation to do
<br />nd
<br />so, a without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor ha
<br />agreed but falls to do and may also do any other act It deems necessary to protect the security hereof. Trustor shall, Immed(Abefijt:
<br />upon demand therefor by Lender. pay to Lender all costs and expenses incurred and sums expended by Lender in conrw ck.. wrf
<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 />addsd to the iig$0btedness secured ImOlby. Lender shall not Incur any liability because of, anything It may do or omit to do
<br />hereunder.
<br />$. Hataht*mn Maieri" Trustor ail<�ia'(3 flesh Ve•f ?wpertiy in compliance with ail amri.cjt de -laws, ordinances and regulations
<br />m4sting to imousiriat by :t'u ic0 ivtQCVhs tat fared s n (collectively roterred to habrisin as." Environmental Laws' ). Trustor shall
<br />keep the Propw.tj tree frp n attsu�sta n c><ta feemed.ta be hazardous or toxic undo► any Environmental Laws (collectively referred to
<br />heroin as "Hagar douis Aiemat rstlts "). Trustee Hereby warrants and represents to lends► that there are no Hazardous Materials on of
<br />under the Property: Trustor hereby agrees to Indemnify and hold harmtsss Lender, its directors, officers, employees and agents, and
<br />any successors to tender's trt>lirest from and against any and all claims, damages, fosses and liabilities arising In connection with
<br />the presence, use, di rposa! ar transport of any Hazardous Materials on, under, from or about the Property. THE FOREGOING
<br />WARRANTIES AND REPRESENTAriOPlS, ANO TRUSTOR'S OBLIQATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL
<br />SURVIVE RECONVEYANCE Oils THIS DEED OF TRUST.
<br />. 10. Assignment of Mmk. 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 *he occurrence of an Event of Default. Lender may, either in person or by agent, with or without
<br />bringing any action or proceedirtig, 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 any 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 />increase the income therefrom or,protecl the security hereof and, with or wrthoul taking possession of the Property, sue for or
<br />otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection including affornays' tees, 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, shr'i not cure or waive any default or notice of default hereunder or invalidate any act done in
<br />responseto such default or pursuanito such notice of default and, notwithstanding the continuance In possession of the Property or
<br />Me collection, receipt and applicatvirt of rents. Issues or profile, and Trustee and Lender shall be entitled to exercise every right
<br />provided for In any of this 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 />11rnitahon nn L-- w-4 &- ir'e rIChi<_r4 rw'^,.�;o Undo: ar-Y QZa Vl, iME Of;6iiii S" slid rents muurded againsttihe Pro pefly. Lender, Trustee
<br />and the receiver shall be liable to account only for those rents actually received.
<br />11. EvwWB W Dobvil. The following shall constitute an Event at Default under this Deed of Trust:
<br />(a) Failure to pay any installment of principal or interest of any other sur". secured hereby when due;
<br />(b) A breach of or default under any provision contained in the Nate. this 040 of Trust, any bf fife Loan Instruments, or any
<br />oilier m rrl or exhcum'vrance upon the Property;
<br />(c) A, writ of execution or aft ehmeal or any similar process shall be entered against Trustor which shall become a lien on
<br />the Props" or any portion thereof, ar irseresi therein;
<br />(dy There shall be filed by, or aga4vst Truster or Borrower an action under any present or futute federal. state or other
<br />statute, law or regulation relatirrrg to bankruptcy. insolvency or other relief for debtors; or there shall be appointed any trustee.
<br />receiver or liquidator of Trustarior Borrower or of all or any part of the Property, or the rents, Issues or profits thereof, or Trustor
<br />or Borrower shall matte any genera). assignment for the benefit of creditors;
<br />(e) The sale, transfer, lease, a=Ipment, conveyance or further encumbrance of atf.• or any part of or any interest In the
<br />Property, oilher voluntarily or.fnvetuntarily, without the express written consent of teenier; provided that Trustor shall be
<br />permitted to execute m lisase of the Property that does not contain an option: la purchase and the term of which does not exceed
<br />one year.
<br />(Q Abandonment of the Property; or
<br />(g). If Trustor is not an individuak.the issuance, sale, transfer, assignment, conveyance iarencumbrance of more than a total
<br />of percent of (it a corporation) its issued and outstanding stock or (if a partnership) a touch of, percent of
<br />partnership interests durithg the period this Dead of Trust remains a lien on the Property.
<br />12. PAModles; AoaMraMIA Upon CkArA In the event of any Event of Default Lender may, without notice except as required by
<br />law, declare all indebtedness secured tWeby to be due and payable and the same shall thereupon become due and payable
<br />.without any presenlimeK demand, praAsst or notice of any kind. Thereafter Lender may:
<br />(a) Demand that Trusbe 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 law upon occurrence of any Event of
<br />Default; and
<br />(c) Commencean action to foreclose this Deed of Trustas a mortgage, appoint a receiver, or specifically enforce 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 taw provided or permitted, but each shalt be cumulative, shall be in addition to every other remedy given
<br />hereunder, in the Loan instruments or now or hereafter existing at law or in equity or by statute, and may be exercised concurrently,
<br />independently or successively.
<br />13. Trudee. The Trustee may resign at any time without cause, and Lender may at aayr �--me and without cause appoint a
<br />successor or substitute Trustee. Trustee shall not be liable to any party, including without limtfati:�n Lender, Borrower, Trustor or any
<br />purchaser of the Property, for any loss ordiamage unless due to reckless or willfut misconduct, sAdr 0411 flat be required to take any
<br />action In connection with the enforcement of this Deed of Trust unless indemnified, in vvi�L1; ;g; f'or all costs, compensation or
<br />expenses which may be associated thLwowfth In addition. Trustee may become a purchaw- ara'ay'sile� of the Propertyrj)udioial or
<br />under the powatr of sale granted herehi);.postpone the sale of all or any portion of the Property, as provided by lavlr;4r sell the
<br />Property as a whole, or in separate parcels or lots at Trustee's discretion.
<br />14. Few and Expenses, in the event Trustee setts the Property by exercise of power of sale, Trustee shall be entitled to apply
<br />any sal(► 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, actually incurred to extent permitted by applicable taw. In the event Borrower or Trustor exercises any
<br />rigM provided by isw to cure an Event of Default. Lender shall be entitled to recover from Trustor all costs and expenses actually
<br />incurred as a resuh of Trustor's default. including without limitation all Trustee's and attorney's fees, to the extent permitted by
<br />applicable taut.
<br />15 liar * Adiraeees. Upon redursst of Borrower. Landor may. at its option. make additional and futuie advances and ro•
<br />eQYartGee to Borrower Such advances and readvances. with intoreSI thereon shall be soured by this De,3d of Trust At no Lmu shall
<br />the principal amounlC =f the irt(jebtedr -ess GOLured by th�q M110 of TruS:. rot -rt AAd nu sums advanced to protect the setu►ity O! this
<br />Dood cil Trutt- exctt(1 fhb ens 11;11 prrr, ,pal amriint stated herrr n pr $ 11,000.013 whiLhtavor .s gie,irr ?t
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