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89-- 104116
<br />the Property is so taken or damaged, Lender shall havelhe oploit; 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 />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 %dorault thereunder or hereunder. Any unapplied funds shall be paid to
<br />Truster.
<br />8. PerMrmanes by Lender. Upon the occurrence of uim E\,rent of Default hereunder, or if any act is taken or legal proceeding
<br />commenved which materially affectt Lender's iinterest in tfte Property, Lender may In its own discretion, but without obligation to do
<br />so, aod without notice to or demand upon Trustor and without releasing Truster from any obligation, do any act which Truster has
<br />agreed but falls to 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 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 Matsrlais. 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 "). Trustor shall
<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 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 />1 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 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 protect the security hereof and, with or without 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 attorneys' fees, upon any indebtedness Ali u�r ed hereby. all in such order as Lender
<br />may determine. The entering upon and taking possession of the Property, the collect?aq of such rents, issues and profits and the
<br />application thereof as aforesaid, shall not cure or waive any default or notice of default trereunder or Invalidate any, act done in
<br />response to such default or pursuant to such notice of default and, notwithstanding the contirpartoe 6 possession of the Property or
<br />the collection, receipt and apple'cation of rents, issues or profits, and Trustee and Lender shaft 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 />to exefolso tiro {'n war Of Sale. Further, Landee S lights and remedies cinder this pamagraph Shall ba cumulative :,rith, and In no ay a
<br />limitation on, Lender's rights and remedies under any assignment of leases and rents recorded agai nat the Property. Lenderr Trustee
<br />and the receiver shal6 be liable to account only for those rents actually received.
<br />11. Events of Delauif. The following shall constitute an Event of Default under this Deed of Trust:
<br />(a) Failure to pay any installment of principal or Interest of any other sum secured hereby when due;
<br />(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 be entered agairiskTv istor which shall become alien on
<br />the Property or any portion thereof or interest therein;
<br />(d) There shall be filed by or against Trustor. or. Borrower an action under any present or future federal, state or other
<br />statute, law or regulation relating to bankruptcy, insolvency or other 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 the Property, or the rents, issues or profits thereof, or Trustor
<br />or Borrower shall make any general assignment for the benefit of creditors;
<br />(e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or any part of or any interest im the
<br />Property. either voluntarily or involuntarily, without th6 express written consent of Lender, provided that Trustor shalt be
<br />permitted to execute a lease of the Property that does not contain an option to purchase grid the term of which does not exceed
<br />one year;
<br />(f1 Abandonment of the Property;, ar
<br />(g) If Trustor is not an individual, thecssuance, sale, transfer, assignment, conveyance or encumbrance of more than a total
<br />of percent of (if a corporation) its issued and outstanding stock or (it a partnership) a total of percent of
<br />partnership interests during the period.this Deed of Trust remains a lien on the Property.
<br />12. Remedies; Aecsisration Upon Defsuh. In the event of any Event of Default Lender may, without notice except as required by
<br />law, declare all indebtedness secured hereby to be due and payable.- and the same shall thereupon become due and payable
<br />without any presentment, demand, protest or notice of any kind. Thereafter Lender may.
<br />(a) Demand that Trustee 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) Commence an action to foreclose this Deed of Trust as 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 law provided or permitted, but each shall 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. 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, tncluding without limitefmn Lender, Borrower, Trustor or any
<br />purchaser of the Property, forany toss or damage unless due to reckless or willful rr 'scand'uct and shall not be required to take any
<br />action in connection with the enforcement of this Deed of Trust un less. tnderrn; fed, in iwribng, for all costs, compensation or
<br />expenses which may be associated therewith. In addition, Trustee may beco ne a ptachaserat any sale of the Property (judicial or
<br />under the power of sale granted herein); postpone the sale of all or an�j• 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. Fa m 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 Lender's
<br />and Trustee's attorney's fees, actually mcurred to extent permitted by applicable taw. In the event Borrower or Trustor exercises any
<br />right provided by law to cure an Event of Default. Lender shall be entitled to recover from Trustor all costs and expenses actually
<br />Incurred as a result of Trustoe's default, including without limitation all Trustee's and attorney's fees, to the extent permitted by
<br />applicable law
<br />15 Future Advances. Upon request of Borrower, Leander may, at its option. make additional and future advances and re-
<br />advances to Borrower Such advances and readvances, with interest thereon, shall be secured by this Deed of Trust At no time shale
<br />tho pnncepal amount of the indebtedness secured by this Deed of Tru91 riot enciudinq sums advanced to protect the security of this
<br />Deed of Trust, oxceed the o:eg+nal principal amount Stated here,r, or S 50.000.00 . Nhochever is g +eater.
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