90105970 - Laserfiche WebLink

Browse

r 90- 405970 16. Covenants of Trustor with Respect to Leases. Without the prior written consent of Beneficiary. Trustor shall not directly or indirectly, with respect to any lease of space In the Trust Property, or any portion thereof, whether such lease is now or hereafter in existence: (a) Accept a permit any prepayment, discount or advance payment of rent hereunder in excess of one month. (b) Cancel or terminate the same, or accept any cancellation, termination or surrender thereof, or permit any event to occur which would occur thereunder to terminate or cancel the same, other than termination for nonpayment of rent, (c) Amend or modify the same so as to reduce the tam thereo% the rental payable thereunder, or to change any renewal provisions rtfersh confaled, 1 (d) Waive any default thereunder or breach thereof, (e) Gin any consent, waiver or approval thereunder or take any other action In connection therewith, or with a lessee thereunder, which would have the effect of impairing the value of the lessor's interest thereunder or the property subject thereto, or of Impairing the position of Interest of Beneficiary therein, or p) Sell, assign, pledge, mortgage or otherwise dispose of, or encumber its interest in any said laws or any rents, issues, profits issuing or arising thereunder. 17. Waiver of Statute of Limitations. Time is of the essence In all of Truster's obligations and dutids hereunder; and to the extent pernrtted by law, Trustor waives all present or future statutes of loWtation s with respect to any debt, demand or obligation secured hereby and any action or proceeding for the purpose of enforcing this Deed of Trust or any rights or remedies contained herein. 18. Assignment of Deposits. In the evw# construction of improvements is contemplated by the loan evidenced by the Note secured hereby, as additional security therelbre, Truster hereby transfers and assigns to geneffciary, all right, title and interest to any and all morulos deposited by or on behalf of Trustor with any city, comity, public body or agency, saMtery district, utility company, end any other body or agency, for the in UAWon or to secure the installation of any utility by Trusts. pertaining to the Trust Property. ig. Corporation or Partnership Existence. if Trustor is a cnipwation, generat partnership, or limited partnership, it will do all things necessary to preserve its corporate or partnership existence, as the case may be, and all rights and privileges under the laws of the state Of its Incorporation or organization. 20. For0mr'3nce by Beneficiary Not a Waiver. Any forbearance by Beneficiary in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of Insurance or the payment of taxes or the discharge of liens or charges by Beneficiary shall not be a waiver of Beneficiary's right to accelerate the maturity of the Indebtedness. 21. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently. Independently or successively. 22. Successors and Assigns Bound. Joint and Several Liability, Captions. The covenants and agreements herein contained shall bind, and Me rights hereunder shall inure to, the respec: we successors and assigns of Beneficiary, Trustee, and Trustor. All covenants and agreements of Trustor shall be joint and several. The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to iWorpret or define the provisions hereof. 23. Notice. Except for any notice required under applicable iav,- ,v be given in another manner, (a) any notice to TruSlar provided for in this Deed of rr oat shall be given by mailing such notice by cerllfod mail, return receipt requested addressed to Truserr at its malting i address set forth above or at such other address as Tres►or may designate by notice to Beneficiary as provided herein, and (bj any notice to Beneficiary a Trustee shall be given by certified mall, return receipt requested, to Beneficiary's and Trustee's mailing , address stated heroin or to such other address as Beneficiary or Trustee may designate by notice to Trustor as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to Trustor, Beneficiary or Trustee when given in the ' i manner designated herein. i 24. Governing Law; Severability. This Deed of Trust shall be governed by the laws of the State of Nebraska. In the event any provision or i clause of this Deed cif Tnist conflicts with applicable law, such conflict shall not affect other provisions of this Deed of Trust which can be given effect without the conflicting provisions and to this end the pror.+sions of this Deed of Trust are declared to be severable. 25. Events of Default. Each of the following occurrences shall constitute -an event of default hereunder, (hereinafter called an "Event of Default-): (a) Trustor shall fall to pay when due any principal, interest. or principai and interest on the Indebtedness, ` (b) Any warranty of title made by Trustor herein shall be untrue, -- (c) Trustor shall tall to observe or perform any of the covenants, agreements. or conditions in this Deed of Trust, 1 (d) Any representation or warranty made by Trustor on any ftnandal statements or reports submitted to Beneficiary by or on behalf of Trustor shall prove false or materially misleading, ! (e) Truslor shall fail to perform or observe any of the covenants, conditions or agreements contained fn, or binding upon Trustor under any building loan agreement, security agreement, loan agreement, financing statement, or any other agreement, instrument or document executed by Trustor In connection with the loam evidences by the Note, (1) A trustee, receiver or liquidator of the Trust Property or of Truslor shall be appointed, or any of the creditors of Trust shelf file a petition in bankruptcy against Trustor, or for the reorganiratron of Trustor pursuant to the Federal Bankruptcy Code, or any similar law, whether federal or state, acrd it such order or petition shall not be discharged or dismissed within thirty days �. (30) alter the date j t on which such order or petition was filed, 1.77 i (g) Trustor shall No a petition pursuant to the Federal Bankruptcy Code or any similar law, federal or state, or it Trustor shall i x- adjudged a bankrupt, or be declared insolvent, or shall make an assgrnment for the benefit of creditors, or shall admit in writing its t inability to pay its debts as fhe y become due, or shall consent to the appointment of a receiver of all or any Trait of the trust Property. (h) Final judgment for the psymor, v of money shall be rendered against Trustor and Trustor shall not discharge ttis same, or cause it to be discharged, within thirty (30) days alter ft entry thereo t, or shaff not appeal therefrom or berm m , e order. decree or process upon which or pursuant to which said judgment was granted, based, or entered, and secure a stay 00 execution pending such appeal, (1) Trustor shalt son or convey the Trust Property. or eny purl Viereul, ur eny interest therein, or shall be divested of its title, or any interest therein, in any manner or way, whether voluntarily or involuntarily, without the written consent of Beneficiary being first had and Obtained, or Iil It Trustor is • mrmwAh an tv r=rftU tehin anti tr - th— fjp- ;..,,e......r tsuni .t w. _�_- -- -- �• - - - - - - - - -- - r-- ._. - -r -•� •••�•� •••• -• _••y p.,..,^ ,w,vt v, &..a ona.ua w mununo.ar rrnuraars in awUrr corporation or partnership, as die case may be, shall be transferred or conveyed, whether voluntarily or involuntarily, without the written consent of Berw0clery being lest had and obtained. 26. Acceleration of Debt, Foreclosure. Upon the occurrence of any Event of Default, or any time thereafter. Beneficiary may, at its option, declare all the Indebtedness secured hereby immediately due and payable and the some shaft bear interest ar the default rate, if arty, set forth in the Note, or otherwise at the highest rate pemvtted by law, and, irrespective of whether Beneficrary, exercises said option. it may, at its option and in its sole discretion, without any further notice or demand to or upon Trustor, do one or more of the following; , (a) Beneficiary may enter upon, take possession of, manage and operate the Trust Property or any part thereof; make repairs and alterations and do any acts which Beneficiary deems proper to protect the sacurr y thereof, and either with or without taking Possession. in its own name, sue for or otherwise collect and receive rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorney fees and Beneficiary's costs, upon Me Indebtedness secured hereby and in such order as Beneficiary may determine. Upon request of Beneficiary, Trustor Rh" MMn b;e and shall make available to Beneficiary any of the Trust Property which has been removed. The entering upon and L taking possession of ft Trust Property, the collection of any rents. issues and profits, and the application thereof as aforesaid, shall not cure or wave any default theretofore thereafter or occurring, or affect any nonce of default or notice of sale hereunder or invakdate any act done pursuant to any such notice. Notwithstanding Beneficiary's continuance in possession or receipt and application of rents, issues or probts, Beneficiary shalt be entitled to exercise every right provided for in this Deed of Trust or by law upon or after the occurrer;e of an Event of Default, including the right to exercise the power of sale Any of the actions referred to in this paragraph may be taken by Beneficiary at such hoe as Beneficiary may determine without regard to the adequacy of any security for the indebtedness secured hereby. _ (b) Beneficiary shall, without regard to the adequacy of any security for the Indebtedness secured hereby. he entitled to the appointment of a receiver by any court having jurisdiction, without nonce. to take possession of protect. and nranage the must Property and operate the some and collect the rents. issues and profits therefrom (c) Bonofrciary may bring any action in any court of corrrpetent jurisdiction to foreclose this Deed ut trust or enforce any of the covenants hereof.