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89- 104118
<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 />after deducting therefrom all Costa 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 default thereunder or hereunder. Any unapplied 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 Trustor 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 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 foregging 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'). Trustor shati
<br />keep the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred tp
<br />herein as "Hazardous Materials "). Trustor hereby warrants and represents to Lender that there are no Hazardous Materials an or;
<br />under the Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors, officers, emptcyees 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, SHAH
<br />SURVIVE RECONVEYANGE OF THIS DEED OF TRUST.
<br />10. Assignment of Renl& 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 o` 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 />s 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 thereaf, Including those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection including atlarneys' 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, shall not cure or waive any default or notice of default hereunder or invalidate any act done'fiz
<br />response to such default or pursuant to such notice of default and, notwithstanding the continuance in possession of the Property cr "
<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 Me Loan instruments or by law- •.:por. occurrence of an Evert of Def -cult, including without limitation: the r1 .. .
<br />to exercise the power of salie. Further, Lender's rightsand 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 againsttte Property. Lender, Trustee .
<br />and the receiver shall be liable to account only for those rents actually received.
<br />11. Events of �ttlL The following shall constitute an Event of Default under this Deed Z± crust
<br />(a) Failure to pay any installment of principal or interest of any other sum secured hereby when due;
<br />(b) A breach of oe default under any provision contained in the Note, this Deed of Trust any of tfre Moan 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 against Trustor which shall become a lien en,
<br />the Property or any portion thereof or interest therein;
<br />(d) There shall be filed by orr against Trustor or Borrower an action under any present or future federal, state or other
<br />statute, law or regulation relating lo 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 In the
<br />Propertt: either voluntarily or involuntarily. without the express written consent of Lender; provided that Trustor shall be
<br />permitted to execute a lease of the Property that does not contain an option to purchase and the term of which dcet not exceed
<br />one year.
<br />(f) Abandonment of the Property; or
<br />(g) If Trustor is not an individual, the issuance, sale, transfer, assignment, conveyance or encurrtbrance of more than a total
<br />of percent of (if a corporation) its issued and outstanding stock or (if 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. Renwitiles; Acceleration Upon DebuIL in the.event of any Event of Default Lender may, with ut notice except as required by
<br />fivr, 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). Remand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause Tfustor's
<br />i 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 party. including without limitation Lender. Borrower. Trustor or any
<br />purchaser of the Property, for any loss or 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, 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 sate of all or any portion of the Property, as provided by taw; or sell the
<br />L Property as a whole. or in separate parcels or lots at Trustee's discretion.
<br />14. Fees 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 incurred to extent permitted by applicable law. In the event Borrower or Trustor exercises any
<br />right provided by iaw to cure an Event of Default. Lender shall be entitled to recover from Trustor at' costs and expenses actually
<br />incurred as a result of Trustee'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. Lender may, at its option. make additional and future advances and re
<br />advances to Borrower. Such advances and ►eadvances. with interest thereon. shall be secured by this geed of Trust At no time shau
<br />the principal amount of the indebtedness secured by this Deed of Trust, not including sums advanced to protect the security of this
<br />Deed of Trust. exceed the original principal amount stated herein. or S ..- vdliche.er ,s greater
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