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<br />89-- 104363
<br />the Property is so taken or damaged. Lender shall have the option, in Its sole and absolutes 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 of hereunder. Any unapplied funds shall be paid to
<br />Trustor.
<br />& Pedorwwice by gender. Upon the occurrence of an Event of Default hereunder, of 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 cr demand upon Truster and without releasing Trustor from any oblig6on, 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. Truster shall, immia"My
<br />upon demand therefor by Lender: pay to Lender all costs and expenses incurred and sums expended by lender in ccrinection with
<br />the exercise by _Lander 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 cr arnit to do
<br />hereunder.
<br />9. Hazardous MalarWs. Trustor shalt keep .the Property in compliance with all applicable laws. ordinances and regulations
<br />hygiene relating to industrial or environmental protection (collectively referred to herein as "Environmental taws "). Trustor shall
<br />keep the Properfyfree 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 herebyagraes to indemnity and hold harmless Lender, its directors, efticers, employees andagents, and
<br />any succesws to Lender's interest, from and agafnstany and all claims. da,itagee..losses and liabilities arisiel; (n. connection with
<br />thL- presence, use, disposal or transport of any Hazardous Materials o•x, urwac. finm or about the Pmperty. THE FOREGOING
<br />WARRANTIES AND REPRESENTATIONS. AND TRUSTOR'S OBLI13AATIONS FUMJANT TO THE FOREGOING INDamigay, SHALL
<br />SURVIVE RECONVEYANCE OF THIS DEE6 OF TRUST.
<br />10. A/at[i w MM of Ranh. Trustor hereby assigns to Lender the rents, issues and profits ct the Property; provided thrlt Trustor
<br />shat, until the occurrence of an Event of Default hereunder, have the right to collect and retain such rents. issues and profits as they
<br />beimme due and payable. Upon the occurrence of an: Event of Default. Lender may, either in person or by.aifent with or without
<br />beir*.Jig any action or proceeding, or by a receiver 4adointed by a court and without regard to the adeg6ac'y 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 preseniq the value, marketability or rentability of the Property, or any part thereof or interest therein,
<br />increase the income therefrom or protrtci the security hereof and, with or without taking possessiori of the Property, sue for or
<br />otherwise collect the rents, issues and pr:,tits thereof, including those past due and unpaid, and apply tike same, less costs and
<br />arses of operation and collection including attorneys' fees. upon any mdebtr Ness secured ttsreb f, a'?;lasuch order as Lender
<br />may determine. The enteru+S upon and taking possesalon of the Property, the ci2dlaction of and profit$ and the
<br />application thereof as atoresa:d, shall not cure or waive any default or nonce of default hercuisdir or invalidate anyar -t one in
<br />response to sucjt<default or p4tsua! t to s,,uftwotice of default and, notwithstanding the contint,a- ' as in possession of the Plooerty or
<br />the collects*,, receipt and application. of n.4a, isues r. r profits, and Trustee and Lender 6110 be entitled to exercise every right
<br />provided for 16 my of the Loan instruments Croy law-t•ipatt occurrence of any Event of Default, including without limitation the right
<br />to ex!zr¢ise the power of sale. Further. Lender's rights'a a remedies under this paragraph shall be cumulative with, and in no way a
<br />1lipltaiJion 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. Evwft of Default. 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 tzcwtv:y w1le-i due;
<br />(b) A breach of at default under any provision contained in the Note, this tired a; Trust, any of the raven Instruments, or any
<br />other lien or encumbrance upon the Property;
<br />(c) A writof execution of attachment or any similar process shall be en1wrDl which shall become alien on
<br />the Property. or any portion thereof or interest therein,
<br />(d) Tort -shall be filed by or against Trustor or Borrower a n action under any Fr_., aw.,,' or future federal, stzdrs.or other
<br />statute.lain:fssr tegulation relating to bankruptcy, insolvency or rithec relief fcr - lebtors; or there shall beappointed8i:y trustee,
<br />receiveror liquidator of Trustor or Borrower or of all or any part of the PropFa1y ;1,r the rents, issues or ft•olils 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 ,;kor any inNrest in the
<br />Property, either voluntarily or invo!u ;ptarily, without the express written consent of Ltind4r; provided that Trustor shall be
<br />Permitted to execute a lease of the Fr eperty that does not contain an option to purchase z d ft term of which door not oxcsad
<br />one year;
<br />M Abandonment 61, Me Property; or
<br />(g) If Trustor is not a an IndividLal. the issuance. sale, transfer, assignment,'Wrveyance or encumbranne of more than a total
<br />Of percent of (if a ccrpe%•311tan, its issued and outsfai!ditag stock or (if a partnery -,ig) a total of -percent of
<br />Partnership interests during the period this Deed of Trust remar� .s a lien on the Property.
<br />12. Reaedtse; Aeeders9on Upon Dell". In the event of any Event of Detaurf Liander may, without notce Ggcept as required by
<br />law, declare all indebtedness secured hereby to be dine and payable and the sarre shall thereupon pe comes due and payable
<br />*011W any presentment demand, protest cr notice ofalr,r kind. Thereafter Lender r „ay:
<br />(a) Demand that Trustee exercise: (he POWEW OF SALE granted herein. and Truattrh- shall thereafter cause Trustors
<br />interest in "Property to be sold and, the proceeds to be diatilbuted, all in the r�anreIr p iwtded in the Nebraska Trust Deeds
<br />Act
<br />(b) Exercise any and all rights provided for in any of the Loan Instruments or t)y taxi upon occurrence of any Event of
<br />Default; and
<br />(c) Commerce 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 hattain 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. Thisbe. The Trustee may resign at any tune without cause, and Lender may at any time and without cause appoint a
<br />successor or substitute Trustee. Trustee shall notbe liable to any party. including without limitation Lender. Borrower. Trustor o►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 adchbon. Trustee may haC_anie n pliteripser at any gala of Et,e pro�_rty Oud!cia! of
<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 Of in separate parcNs or lots at Trustee's discretion.
<br />11. Fen end Expenses. in the event Trustee sells me Property by exercise of power of sate. Trustee shall be entitled to apply
<br />any sale proceeds first to payment of all costs and expenses of exercising power of sale, inatuding all Trustee's tees. and Lender's
<br />and Trusbe'satterney's fees, actually incurred to extent permitted by applicable taw In the event Borrower or Trustor a xe►cises any
<br />69M provided by towto cure 8n Event of Default, Lender shall be entitled to recovet from Truster all costa and expenses actually
<br />incurred as a result of Ttustor's default. ,rlcluding wthout Lm:tation all Trustees and attorney's fees. to the extent permitted by
<br />applicable law
<br />is Ftidt O Ad aasee. Upon request of Borrower. Lender racy. at its o0lon. make additional and future advances and re-
<br />edvancss 4j BorrUWer Suet, advance's and resivances. witp interest thereon. shall be Secured by this Deed at Trust At rro trine shad
<br />the principal amount of tree indebtedness secured by this D@ed of Trust not m0zdrng Burns advancer! to Dtotect tho se- Luri,ty rat
<br />[Diet? of Trust: exceed ftte orf1pfiat onnufpai ars:aurit stated herein' t r S_ 7d.0oo.Otz wt ,; t +over g QrCati+r
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