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90- -106317
<br />the Property is so taken or damaged. Leader shall have the option. In Its solo and absolute discretion, to apply all such Procesde,
<br />after deducting therefrom ail coils and expenses incurred by It in connection with such Proof 4s, upon any Inidebledness aecurod
<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. Perfo mane by Lender. Upon the occurrence of an Event of Default hereunder, or it any act is taken or legal proceeding
<br />commenced which maWliaily affects Lender's interest In the Property. Lendor may In its own discretion, but without obligation to do
<br />a4, 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 strati, Immediately
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<br />upon demand therefor by Lender, pay to Lender all costs and expenses Incurred and sums expended by Lender in connection with
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<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
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<br />hereunder
<br />8. Hazardous IWbedais. 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 La'11131. Trustor shall
<br />keep the Prop" fret from all substances deemed to be hazardous or toxic under any Envi. onmental Laws (collectively referred to
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<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 indemnify and hold harmless lender, its directors. officers, employees and agents, and
<br />any successors to Lender'e Interest from and against any and all claims, damages, losses and liabilities arising in connection with
<br />Me 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
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<br />SURVIVE RECONVEYANGE OF THIS DEED OF TRUST.A
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<br />10. Assignment of Rants. Trustor hereby assigns to Lander the rents, Issues and profits of the Properly; provided Ihat Trustor
<br />istall, until ibeoccurrortceo(an Gventof Default hereunder, have the right io collectand. retain such rents. issues and prolits asibey
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<br />L - ecome due and payable. Upon ifte- occurrence of an Event of Default; Lender may, Miller In perrson or by agent, with or without.
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<br />t vinging vy arifun or proceeding, or by ai receiver appointed by a court and without reprd to 117e ivtequacy of its security. enter,
<br />y� ,r.�•,
<br />o'Wn =0 WJre-im- session of the Property, o: any part thereof, in its awn name or in the asmre of;:NeTriycme, and do any acts which. it
<br />f •F`` _ - -� _
<br />ems inacem1s o: deKrabteto preserve the value, maiicetabitiry os rerttatsiiity of ttte Property, or any part thereon or interest tRErart.
<br />7,r
<br />01crease the Incometheae -rain or protect the security I-mrect and, with or widiout taNng possession of the Property. sus ton or
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<br />otlterwise collect'G1e rents, vssues and profits thereaij ic�cl.ud'ng,lriosa past doe and: unpaid, and apply the same less costs and
<br />expensesolopa: aUan, andcollectionincl udingattornays' raes, uponanyin debtednesssecuredhereby ,allInsuchorderasLendeT
<br />issues the
<br />:10 '.._ _
<br />may determine. The entering upon and taking possessoa n of the Prop",, the collection 01 such nar.,zs, and profits and
<br />application thereof as atareaaid, shall not cure or waive any default or notice of delaull tiereunder o6 invalidate any act done in
<br />response to such default Or pursuant to such notice of default and. notwithstanding fliecontinuance In possession of the Property or
<br />• �.;;. n,• ����;�F.,..s,.,,,;,....:,...:.
<br />the collection, receipt and application of rents, Issues or profits, and Trustee and Lender shall be entitled to exercise every right
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<br />provided for in any of the Loan Instruments or by law upon occurrence of any Event o1 Default including without limitation the right
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<br />to exercise the power of sate. Further. Lender's rights and remedies under this paragraph shall be cumulative with, and in noway a
<br />limitation 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 />a . ..., ..• ••..,_e.r Ys
<br />11, Events 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 hereby when due.
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<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 against Trustor which shall become a lien on
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<br />the Property or any portion thereof or Interest therein;
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<br />(d) There shall be filed by or against Trustor or Borrower an action under any present or future federal, state or other
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<br />statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shall be appointed any trustee.
<br />c .;
<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 sate, transfer, tease, assignment, conveyance or further encumbrance of all or any part of or any interest in the
<br />a
<br />Property, either voluntarily or involuntarily, without the express written consent of Lender, provided that Trustor shall be
<br />W .y-
<br />permitted to execute a tease of the Property that does not contain an option to purchase and the term of which does not exceed
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<br />one year:
<br />(1) Abandonment of the Property; or
<br />'r;
<br />(g) 11 Trustor is not an individual, the issuance, sale, transfer, assignment, conveyance or encumbrance of more than a total
<br />of percent of (it a corporation) its issued and outstanding stock or (if a partnership) a total 01 percent o!
<br />is
<br />partnership nterests during the period this Deed of Trust remains a ilea on the Property.
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<br />12. Remedles; Acceleration Upon Default. In the eveTntotany Event of Defaultt Lender may, without notice except as required by
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<br />law, declare all Indebtedness secured hereby to be duz and payable and the same shall thereupon become due and payable
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<br />without any presentment, demand, protest or notice of any kind. Thereafter Lender may.
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<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause Trustors
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<br />interest in the Property to be sold and the proceeds to be distributed, all in the manner pravidfe>1: 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 taforecloserthis Deed of Trust as a mortgage. appoint a receiver. or specifically enforce any of the
<br />covenants hereof.
<br />No remedy heroin 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 raw provided or permitted. but each shalt be c:rn i'ative. shah be in addition to every other remedy given
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<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 shalt not be liable to any party. including without limitation Lender, Borrower. Trustor or any
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<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 safe of all or any 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 />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 ft 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 rem: ac. 01j, incu fed to extdr'., n_rrritted Ilyar.plicabje lavt<. In the event Borrower or Trustor exarclses anN
<br />right provided by law to c;nresr, evencof Default, Lerr'zvr •sI1ali be-cnPtic-d- ta'ii?iutver from Trustorall costsand exaiepseia'cttlr1
<br />r- is , ;•_.i -. ?.:.r';:, i
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<br />incurred as a result of T:c s15x's de`ault including vwa:xLaur.11rriitatiiia niFnuatti(es and attorney's•f ties, to the r;!ist.penillfetf Icy
<br />'`:' ; :.
<br />applicable law.
<br />15. Future Advances.'JIpmrr -equesr of Borrower, Lender- maj „id, ita -ap i1;'make addhiona.1 a hd'I4iuie•advance9 mrid•rr-
<br />advances to Borrower. Such Adva. ^. coos 2r 3 readvances, with interQSttheripn. SIi, II.b'e secured by. Ihtu.Oeed of Trust At no time sJTatl
<br />the principal amount of the indebtedness secured by this Deed of Trust; n6'Including•sums advanced to protect the security of this
<br />Deed of Trust, exceed the original principal amount stated Herein, or s whichever is greater:
<br />1.
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