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<br />the Property Is so taken or damaged. Lender shall have the option. in its sole and absolute discretion. to apply all such Proceeds:
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<br />after deducting theretrom all costsand expenses Incurred by [Ili connection with ouch Proceeds, upon any Indebtedness secured
<br />hereby and in such order as Lender may determine, or to apply all such Proceeds, after such deduction% to the restoration of the
<br />Property upon such conditions as Lander may determine. Any application of PtOCO03 to indebtedness shall not extend os positoone
<br />the due date of any payments under the Note, or cure any default thereunder or hereunder. Any unapplied funds shall tie paid to
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<br />Trustor.
<br />8 !selormtra o by Lender. upon the occurrence of an Event of Default liv,eunder, or it any act is taken or legal proceeding
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<br />commenced which materially effects Lender's Interest In the Property. Leader may in its own discretion, but without obligation to do
<br />so, and without notice to or demand upon Trustor and without releasing Yruslor 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 foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be
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<br />added to the Indebtedness secured hereby. Lender shall not incur any liability because of anything may or omit to do`,
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<br />hereunder,
<br />9. Hazardous Materials. Trustor shall keep the Property in compliance with an applicable taws, ordinances and regulations
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<br />relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws'). Trustor shall
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<br />keep the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (Collectively roferred to
<br />herein as "Hazardous Materials' ). Trustor hereby warrants and represents to Lender that there are no Hazardous Materials on or
<br />under the Prop". Trustor hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees 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
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<br />WARRANTIES AND REPRESENTATIONS. AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL
<br />SURVIVE RECONVEYANCE OF THIS DEED OF TRUST
<br />10. Assigrrcr ill of Recite. Truster hereby assigns to Lender the rents, issues and profits of the Property; provided that Trustor
<br />shall, until the ocpaTence 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 of an Event of Default, Lender may, either in person or by agent, with or without
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<br />bri.rrgj rig any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security, enter
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<br />upoi rind 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 />deemr.; necessary or desirable to preserve the va8ue, marketabl l lty or rentability of the Property, or any part thereof or interest therein,
<br />increase the Income therefrom or protect the securi., hereof and, with o► without taking, possession of the Property.
<br />y 9 i sue for or
<br />otherwise collect: idea rents, issues and profits ?JtP.ref.tJrichjAirrg those past due and unpal.l. and apply the same, less costs and
<br />expenses of opre nfJf cn and collection including, 6111]rrr:F.A • ft r;�3, upon any indebtedness secured hereby, aft in such order as Lender
<br />may determine TTne entering upon and taliml; tzoewession of the Property, tyre collection of such rents, issues and profits and the
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<br />application th0n- -- 2e a3 aforesaid, s1ftV notou,t - tv, waive any default or notice of default trereunder or invalidate any act done in
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<br />respctr• ee to succt default or pucswe+,r,':o such is4 +ace of default and, notwithstanding the contirruance in possession of the Property or
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<br />the (mIllxlon, re -N r of and appr).cal,an C? rrexrfm ;ssues or profits, and Trustee and Lender shall be entitled to exercise every right
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<br />rpravidW- far ;r1 siny at- the Loan Insmments of-Lyc raw upon occurrence of any Event of Default including without limitation the right
<br />t. r tu.misa thepowee of sale. Further. Lender's ilgftts and remedies under this paragraph shall be cumulative with, and in no ways
<br />ihTaltali.i2a on, Lender's rights and remedies underany assignment of teases and rents recorded against the Property. Lender, Trustee
<br />aid "i -, receiver shall be liable to account only for those rents actually received.
<br />11 Events of Default. The following shall constitute art 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 M attachment or ?ny Sirff..a nrngaec shall tow AntwrAd against Ttu4tor which shall become a lien on
<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,
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<br />receiver or liquidator of Trustor or Borrower or of all or an
<br />q y part of the Property, or the rents. issues or profits thereof, or Truster
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<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 />Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be
<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
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<br />(g) If Truster is not an individual, the issuance, sale, transfer, assignment conveyance .r encumbrance of more than a total
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<br />of percent of (if a corporation) its issued and outstanding stock or (it a pw,&— ._rship) a total of percent of
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<br />..partnership interests durinii:rre period this Deed of Trust remains a lien on the Prarmerg.
<br />• ,2. Remedies; Aeeeleratlan Ilipon Default. In the event of any Event of Default Lender mra' y, without notice except as required by
<br />lam; declare all Indebtedness,te=red hereby to be due and payable and the same shall, hereupon become due and payable
<br />wi+11rout any presentment demand. protest or notice of any kind. Thereafter Lender may: '
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shail,*,,ereatter cause Trustor's,
<br />interest in the Property to be sold and the proceeds to be distributed, all in the manner provided try, Me Nebraska Trust Deeds
<br />Act;
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<br />(b) Exercise any and all rights provided for in any of the Loan Instruments or by law upon occurrence of oars Event al'
<br />Default; and
<br />(c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a recc-nler. or specifically enforce any of idle
<br />covenants hereof.
<br />No remedy herein conferred upon or reserved to Trustee or Lender is intended to be excluzove of any other remedy herein, in the
<br />Lain Instruments or by law provided or permitted, but each shall be cumulative, shall beili addition to every other remedy given
<br />hereunder, in the Loan lnstrumentn.or now, as- hereafter existing at law or inequity or by staltil r; and maybe exercised concurrently.
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<br />Independently or successively:
<br />13. Trustee. The Trusteema1-nicign at any time without cause, and Lender may at any time and without cause appoint a
<br />successor or substitute Trustee. Tiustee shalt not be liable to any parry. 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 />eri2enses 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 sale 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 Trusters 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 sate 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 sees. actually incurred to extent permitted by app:rcabre taw. In the event Borrower or Trustor exercises any
<br />right provided by law to cure an Event of Default. Lender shall be entitled to recover from Trustor all costs and expenses actually
<br />incurred as a result of Trustor's default including without limitation all Trustee's and attorney's tees, to the extent permitted by
<br />applicable law.
<br />15. Future Advances. Upon request of Borrower. Lender may. at its opt o v. make additional and future advances and re-
<br />advances to Borrower. Such advances and readvances, with interest thereon. shat; be secured by this Deed of Trust At no time shall
<br />the principal amount of the indebtedness secured by this Deed of Trust, not rncl.A.ng sums advanced to protect the security of this
<br />Deed of Trust exceed the original principal amount stated herein. or S t n, On -(10 " whichever is greater.
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