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<br />90_105718
<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 such order as Lender may determine, or to apply all such Proceeds, alter 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 />the due date of any payments under the Note, or ours any default thereunder or hereunder. Any unapplied funds Mall be paid to
<br />I Trustor.
<br />S. PsNormance by Lender. Upon the occurrence of an Event of Default hereunder, or If any act is taken or legal proceeding
<br />i 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 to do and may also do any other act it deems necessary to protect the security hereof. Trustor shall, Imrnedlately
<br />upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with
<br />j the exercise by 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 laws, ordinances and regulations
<br />relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws-1 Trustor Shad
<br />keep the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (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 or, 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 nereby assigns to Lender the rents, issues and prt;t,r , OI the Property: provided that Trustor
<br />m
<br />shall, until the occurrence of an Event 3f 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 />{ upon and take possession of the Property, or any pan thereof, in its own name or in the name of the Trustee, and do any acts which it
<br />deems necessary or desirable to presoNe the value, marketability or rentability of the Property. or any part thereof or ,nvereat therein,
<br />inrram" the income therefrom or pro' act the security horeot and, with or without lakr7ig possession of the Properly sue for or
<br />otherwise collect the rents, issues an' profits thereof, Including those past due and unpa%d, anti apply the same, less co:t:, 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 possanion of the Property, Ine collection of such rents. issues and profits and the
<br />application thereof as alo7esaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done in
<br />response to such default or pursuant to such notice of default a nd. notwithstanding the continuance in possession of the Property or
<br />the collegtion, 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 right
<br />i 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 />7 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 />11. Everts of Default. The following shall constitute an Event of Default under this Dead of Trust:
<br />(a) Failure to pay any installment of principal or interest of any other sum secured hereby when due.
<br />. d (b) A breach of or default under any provision contained 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 writ of execution or attachment or any similar process shall ce entered against Trustor which shall become a lien on
<br />i the Property or any portion thereof or Interest therein;
<br />yd) There shall be filed by or against Trustor or eo•r r ewer an action under ant, present or future federal. -slate or other
<br />statute. law or regulation relating to bankruptcy, insolven,cl. or other relief for debtaass• or there shall be appotnl -.d any trustee,
<br />receiver or liquidator of Truslor or Borrower of of all or any part of the +P•roverty. or the rents, issues or profits thereof, or Trustor
<br />or Borrower shall make any general assignment for the benefit of credi:ois.
<br />(e) The sale, transfer. lease, assignment, conveyance or further encumbrance of all or any part of or any interest in fife
<br />Property, either voluntarily or Involuntarily, without the express written consent of Lender: provided that Tiustor shaU be
<br />permitted to execute a lease of the Property that does not contain an option to purchase and the term of which pees not exceed
<br />one year,
<br />(f) Aba,4onmenrt of the Property; or
<br />(g) If Trustor is nroi an individual, the ist3sri• +era, sale. transfer, assigi rinent, conveyance or encumbrance of more than a total
<br />i of _ 25 of (if a corporation) its issued and cutstandmg stuck or (if a partnership) a total of - _ _..— percent of
<br />{ partnership Interests during tr,= period this Deed of Trust remains a lien on the Property
<br />12, q«nedles; Accalieration Upon Detsult. In the event of any Event of Default Lender may, without notice excea' as required by
<br />law, declare all indebteafiness secured hereby to be due and payable the same shall thereupon become due and payable
<br />without any presentment, demand, protest or notice of any kind Thereattrer- Lender may
<br />+ ;a) Cc.;.c;,d «ct Tr::ct -"� "' the PnWFR nF RALE granted herein, and Trustee snail thereafter cause Trusters
<br />interest in the Property to be ao<a and the proceeds to We S slributed, all in the mar mer provided in the Nebraska Trust Deeds
<br />Act
<br />' (b) Exercise any and all rights provided for in am} for the Loan Instruments or oy law upon occurrence of any Event of
<br />Default and _ ._ r_.�..iw.� ti.,!t ..r T.i.iai as a mortnaaQ anno:nt a receiver. or specrficsil y enforce any of the
<br />tGt <rWrlltt0!tN an acMVn .0 forced ,� _ � -
<br />covenants hereof.
<br />No remedy herein conferred upon or reserved to Trustee ar L-ender is intended to be exLlu give of any other remedy herein. in the
<br />i Loan instruments or by law provided or permifted• but eiech shall be curnulahve. shah be in addition to every other remedy given
<br />hereunder, in the LoW Instruments or now or hereattiet existing at law or in equtty or by statute. and may be exercised concurrently.
<br />indsperldenfty 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 party, including without limitation lender, Borrower Trustor or any
<br />purchaser of the Property, for any Ions or damage unless due to reckless or willful misconduct. and shalt not be required to take any
<br />action in 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 (judicial 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 lob at Trustee's discretion
<br />L 14, Fen and Expenses. In the event Trustee sells the Property by exercise power of sate. Trutaee steel bee .and to apply
<br />any sale proceeds first to payment Of all costs and expenses of exercising power of sale. inciud•ng iii Trustee s fees. and tense► s
<br />and Trustee's attorney's fees, actually incurred to extent permitted by applicable ,avii In the event Botro Mer or Trustor txercises env
<br />right provided by law to cure an Event of Default Lender Shall be entitled to iNCU., er trim. Trustof ail costs and i•iipenses it,tuariy
<br />incurred a1 a result of Trustor's default. including *,Ihout iimitation all Trustees and anJrney s lee Si- t-) the e'.tent pernutted by
<br />applicable law
<br />15 Ffstwe AdvaneM. Upon request of Borrower Lender may at its option mak0 add-b.mai ind tassel- adv„riLes And re
<br />advances to Borrower Such advances and readvances with •nterest thorevn Snd,l tx' tdA urt*J hr to % (}pt -J Trust Ai n.i iime sh}il:
<br />th@ principal amount of the indebtedness secured br th -s Lltllkl (it 1ruSt ijytifl� y,�r}rj . 11ri4 ,iti.Hia t .l Pi �• ntNtf th@ ay. tit }r ti} Tit S
<br />Deed of Trust exceed the original principal ,arrijant stated hvfe- it rj /Gal t V1J V �J �h , hp1,Qf 'S q tidier
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