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90 40C
<br />• 18. Covenants of Trustor with Respect to !.eases. Without the prior written consent of Beneficiary, Trustor shall not, directly or indirectly,
<br />with respect to any lease of space in the Trust Property, or any portion thereof, whether such lease is now or hereafter In existence:
<br />(a) Accept or permit any prepayment, discount or advance payment of rent hereunder In excess of one month,
<br />(b) Cancel or terminate the same. or accept any cancellation, termination or surrender thereof. or permit any event to occur which would
<br />occur thereunder to terminate or cancel the same, other than termination for nonpayment of rent,
<br />(c) Amend or modW the same so as to reduce the term thereof, the rental payable thereunder, or to change any renewal provislons
<br />th"a contained,
<br />(d) Waive any default thereunder or breach thereof,
<br />(6) Give any consent, waiver or approval thereunder or take any other action in connection therewith, or with a lessee thereunder, which
<br />would have the effect of Impairing the value of the lessor's interest thereunder or the property subject thereto, or of impairing the
<br />position or Interest of Beneficiary therein, or
<br />(n Sell, assign, pledge, mortgage or oftmise dispose of, or encumber its Interest in any said lease or any rents, issues, profits Issuing
<br />or arising thereunder.
<br />IF. Waiver of Statute of Umltations. Time is of the essence in all of Trustor's obligations and duties hereunder, and to the extent permitted
<br />by law, Trustor waives all present Of future statutes of limitations with respect to any debt, demand or obligation secured hereby and
<br />any action or proceeding for the purpose of enforcing this Deed of Trust or any rights or remedies contained herein.
<br />IS. Assignment of Deposits. In the event construction of Improvements is contemplated by the loan evidenced by the Note secured
<br />i hereby, as additional security therefore, Trustor hereby transfers and assigns to Beneficiary, all right title and interest to any and all
<br />axwles deposited by or on behalf of Trustor with any clty, county, public body or agency, sanitary district utility company, and
<br />any other body or agency, for" installation or to secure the Installation of any uglify by Trustor, pertaining to the Trust Property.
<br />10. Corporation or Partnership Existence. If Trustor Is a corporation, general partnership, or limited partnership, it will do all things
<br />necessary to preserve its corporate or partnership existence, as the case may be, and ail rights and privileges under the laws of the
<br />state of its incorporation or organization.
<br />20. Forbearance by Beneficiary Not a Waiver, Any forbearance by Beneficlary in exercising any right or remedy hereunder, or otherwise
<br />afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of
<br />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
<br />accelerate the maturity of the Indebtedness.
<br />21. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />22. Successors and Assigns Bound, Joint and Several Uability; Captions. The covenants and agreements herein contained shall bind, and
<br />the rights hereunder shall Inure to, the respective successors and assigns of Beneficlary, Trustee, and Trustor. All covenants and
<br />agreements of Trustor shall be/dnt and several. The captions and headings of the paragraphs of this Deed of Trust are for
<br />' convortanco only and are not to be used to Interpret or define the provisions hereof.
<br />23. Notice. Except for any notice required under applicable law to be given In another manner, (a) any notice to Trustor provided for in this
<br />Deed of Trust shall be given by mailing such notice by certified mail, return recelpt requested addressed to Trustor at its mailing
<br />address set forth above or at such other address as Trustor may designate by notice to Beneficiary as provided herein, and (b) any
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<br />notice to Beneficlary or Trustee shall be given by certified mail, return receipt requested, to Beneficiary's and Trustee's mailing
<br />,. address stated herein or to such other address as Beneficiary or Trustee may designate by notice to Trustor as provided herein. Any
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<br />notice provided for In this Deed of Trust shall be deemed to have been given to Trustor, Beneficiary or Trustee when given in the
<br />' manner designated herein.
<br />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
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<br />clause of this peed of Trust conflicts with applicable law, such conflict shall not affect other provisions of this Deed of Trust which can
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<br />be given effect without the conflicting provisions and to this end the provisions of this Deed of Trust are declared to be severable.
<br />25. Events of Default. Each of the /olbwing occurrences shag constitute an event of default hereunder, (hereinafter called an "Event
<br />!' dDefsult'):
<br />(a) Trustor shall fail to pay when due any principal, interest, or principal and Interest on the Indebtedness,
<br />(b) Any warranty of title made by Trustor herein shall be untrue,
<br />(c) Trustor shall fail to observe or perform any of the covenants, agreements, or conditions in this Deed of Trust,
<br />(d) Any representation or warranty made by Trustor on any financial statements of reports submitted to Beneficiary by or on behalf of
<br />Trustor shall prove false or materially misleading,
<br />(e) Trustor shall fail to perform or observe any of the covenants, conditions or agreements contained in, or binding upon Trustor under
<br />any building ban agreement, security agreement, loan agreement, financing statement, or any other agreement, Instrument or
<br />document executed by Trustor in connection with the loan evidenced by the Note,
<br />!' (1) A trustee, receiver or liquidator of the Trust Property or of Trustor shall be appointed, or any of the creditors of Trustor shall file a
<br />petition in bankruptcy against Trustor, or for the reorganization of Trustor pursuant to the Federal Bankruptcy Code, or any similar
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<br />law, whether federal or state, and 0 such order or petition shall not be discharged or dismissed within thirty (30) days alter the date
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<br />on which such order or petition was filed,
<br />(g) Trustor shall NO a petition pursuant to the Federal Bankruptcy Code or any similar law, federal or state, or if Trustor shall be
<br />adjudged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit of creditors, or shall admit in writing its
<br />inability to pay its debts as thsy become due, or shall consent to the appointment of a receiver of all or any part of the Trust Property.
<br />(h) Final judgment for the payment of money shall be rendered against rivsf or ,and Trustor shall not discharge the same, or cause it to
<br />be discharged, within thirty (30) days after the entry thereof, or shall not appem tre mt. -s ^! or ftv r - "e order, decree or process u*VO
<br />which or pursuani iu whivin stint judgment was granted, based, or entemd, an7 secure .:I stay oi execuiturl ptit ado' g Such co&% al,
<br />(1) Trustor shall sell or convey the Trust Property, or any part thereof, or any interest theran. Or snail be divested of its title, or any interest
<br />therein, in any manner or way, whether voluntarily or involuntarily, wrthoat me wntteri consent of Barrefkiary being first had and
<br />obtained, or
<br />Q) N Trusto►Is a corporation or partnership and more than fifty percent (50 0e) of the shares or be ne oaf i"rests in such corporation or
<br />partnership, as the case may ore, shah be transierred or conveyed, whedrer voiunr'amy or rnvoiuntarriy, mmour rite written consent or
<br />Beneficiary being first had and obtained. See Exhibit A for paragraph 25(k)
<br />28. Acceleration of Debt; Foreclosure. Upon the occurrence of any Event of Default, or any time thereafter. Beneficiary may, at its option,
<br />declare all the Indebtedness secured hereby immediately due and payable and the same shall bear interest at the default rate, if any,
<br />set forth In the Note, or otherwise at the highest rate permitted by law, and, Irrespective of whether Beneficiary exercises said option, It
<br />may, at its option and in its sale discretion, without any further notice or demand to or upon Trustor, do one or more of the following;
<br />(a) Beneficiary may enter upon. take possession of, manage and operate the Trust Property or any part thereof.- make repairs and
<br />alterations and do any acts which Beneficiary deems proper to protect the security thereof, and either with or without taking
<br />possession, in its own name, sue for or otherwise collect and receive rents, issues and profits, including thosb past due and unpaid.
<br />and apply the same, less costs and expenses of operation and collection, Including reasonable attorney fees and Beneficiary's
<br />costs, upon the Indebtedness secured hereby and in such order as Beneficiary may determine. Upon request of Beneficiary. Trustor
<br />shag assemble and shall make available to Beneficiary any of the Trust Property which has been removed. The entering upon and
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<br />L taking possession of the Trust Property, the collection of any rents, issues and profits. and the application thereof as aforesaid. shah
<br />not cure or waive any default theretofore or thereaffor occurring, or affect any rrobce of default or notice of sale hereunder or
<br />Invalidate any act done pursuant to any such notice Notwithstanding Beneficiary s continuance in possession or receipt and
<br />application of rents. Issues or profits. Beneficiary shall be entitled to exercise eery right provided for in this Deed of Trust or by law
<br />upon or after the occurrence of an Event of Default, including the right to exercise the power (it vile Any of the actions referred to rn
<br />this paragraph may be taken by Beneficiary at such time as Beneficiary may determine without retlarrt to the adequacy of any
<br />security for Me Indebtedness secured hereby
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<br />(b) Beneficiary shall, without regard to the adequacy of any security for the Indebtedness secured hereby be entitled to the
<br />appointment of a receiver by any court having Juhsdrctron, without notice. ►o take possession rf, protect anet manage the r rust
<br />Property and operate the some and collect the rents, issues and i!roi is thef Virorrr
<br />(c) Beneficiary may bring any arhon in any court of ewnpetent Jurisdiction to fMee:lose this Doeet of trust w enfrtrc-r ,►ny of rift
<br />covenants hereon
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