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89jQlbl�00 89- 104780
<br />the Property Is so taken or damaged, Lender shall have the option, in its sole and absolute discretion, to apply all such Proceeds,
<br />after deducting therefrom all costs 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 />Prop" 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 />S. Parfonnanae by Lender. Upon the occurrence of an Event of Default hereunder, or 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 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 shall, immediately
<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
<br />hereunder.
<br />9. Hazardous Materials. Trustor shall keep the Property in compliancq_r dh all applicable laws, ordinances and regulations
<br />relating to industrial hygiene or envrtorrmental protection (collectively refer- ',k, "? •r�r; as "Environmental Laws "). Trustor shall
<br />keep the Property free from all subsfanres deerrrett To be hazardous or toxic Lirir Y,^i C-rt sonmental Laws (collectively referred fn.
<br />herein as "Hazardous Materials"}. Tn ct hereby warrants and representsft s "_ ; r ^ ^: there are no Hazardous Materials on,, V..
<br />under the Property. Trustor hereby agp�rs to indemnify and hold harmless a6zors, officers, employees and agents, gnd
<br />any successors to Lender's interest. irty t and against any a ^d,-�'.t Oalms. datrages, is i~ yttd liabilities arising in ccsrinection ?f..'
<br />the presence, use. disposal or tracsacat of any Hazardous'. s±?rials on, under, frair;:v ,,about the Property. T14M FOREGOING
<br />WARRA14TIE„S AND REPJRESENTAT> tNS; AND TRUSTOR'$ C iGATIONS PUSSUANT•T!.—THE FORE0ZING INDEMNiTY. SHALL
<br />SURVIVE, PECONVEYA6NCE OF TNw DEED OF TRUE.
<br />10. Rs ),�rinlift4 ok 1?ants. Tru> ur Hereby a`s r57. 'L, naar. the rents, hues and profits of the F ".iparty :provided that Trustor
<br />shall, urit1; titer occurrence of an Eve-.t z4 Default -cril irdar` ;', : 3 the right to collect and retain such n: . issues and profits as they
<br />becomaiftteaind payable. Upon tlmoccurrence Qt-an Evei -,tai Default, Lender may, either in persoif or by agent, with or without
<br />bringing �;i action or proceeding. a receiver appointed iaV a court and without regard to the adequacy of its security, enter
<br />upon and take possession of the Pri�erty, or any iCs tthereof, in its own name or the name of the Trustee, and do any acts which it
<br />deems necessary ardesirableto preserve thevzii ;iet,,^tarketabilityorrentab ;, rq oftheProperty, oranypastthereoforinteresttherein,
<br />r increase the income. therefrom or protect the s& ;ity hereof and, with cr ,u=thout taking possession of the Property, sue for or
<br />otherwise collect the rents. issues and profitskf-rai,sof. includ_ ^g those pa.V.:;ue and unpaid, and apply the same, less costs and
<br />expenses of operation and coltecticn. cluding - �.4jrneys' fees; +�pon any indebtedness secured hereby, all -in such order as Lender
<br />may determine. The entering upon and taking of :rs Property, the collection of such rents, issues and'profits and the
<br />application thereof as aforesaid. shall not cure cr- vyaive any default or noijewof default hereunder or invalidate any act done in
<br />response to such default or pursuant to such notice of default and, notwithstanding the continuance In possession of the Property or
<br />the collection, receipt and application of rents, issues or profits, and Trustsa. and Lender shall be entitled to exercise every right
<br />provided for in any of the Loan Instruments or by law upon occurrence of any Event of Default, including without limitation the right
<br />to exercise the power of sale. Further. Lender's rights and remedies under this paragrapR at call be cumulative with, and in no way a
<br />limitation on, Lender's rights and remedies under any assignment of leases and rents recor 4ed against the Property. Lender, Trustee
<br />l and the receiver shall be liable to account only for those rents actually received.
<br />} 11. Events of MuIL 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;
<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 />l 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 alien on
<br />the Property or any portion thereof or infra e!st therein;
<br />(d) There wrp7f.te filed by or aga ;na Trustor or Borrower an action under any present or future federal, state or other
<br />statute, law or regoiation relating to barkr .V.cy, insolvency or other relief for debtors: or there shall be appointed any trustee,
<br />receiver or liquidator of Trustorur Sorrower or of all or any part of the Property, or the rents, issues or profits thereof, or Trustor
<br />or Borrower shall make any m =ineral 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 lease of the Property that does not contain an option to purchase and the term of which does not exceed
<br />one year,
<br />(f) Abandonment of the Property; or
<br />(g) I1 Trustorls not an individual, the Issuance, sale, tr�i -afer, assignment, conveyance or encumbrance of rrore than a total
<br />of percent of (if a corporation) its issued and ow.ss anding stock or (+1 a partnership) a total of _ _ percent of
<br />partnership Intere 91 during the period this Deed of Tru"t.l crmains a ::en on the_ Property.
<br />12. FNinisdles; Ac coloration Upon Default In the event of f I y Event of Default Lender may, without notice except as required by
<br />law, declare all indebtedness secured hereby to be dt.e avid tpayable and the same shall thereupon become due and payable
<br />without an* t presentment, demand:. protest or notice of any kind. Thereafter Lender may
<br />`a.i •Demand. that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause Trustor's
<br />interasf in the Property to be sold and the i ac aseds to be distributed, .01, in the manner provided in the Nebraska Trust Deeds
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<br />(b) Exercise ory and all rights proi,+ded for in any of the Loan Instruments or by law upon occurrence of any Event of
<br />Default; and
<br />(c) Commvice an action to foreclose M1:1 Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the
<br />i covenants hereni;
<br />No remedy herein ecolianed upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein, in the
<br />Loan Instruments erb� law provided or permitted, but each shall be cumulative, shall be in addition to every other remedy given
<br />hereunler, in the LUeit Instrumentf> w now or hereafter existing at law or in equity or by statute, and may be exercised concurrently.
<br />Independently or vut: wssively.
<br />13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without ca,iue appoint a
<br />successor or substitu•a Trustee. Trustee shall not be liable to any party, 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 />expenses which may be associated therewith. In addition, trustee may become a purchaser at any sale of the Property budicma► 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 Pots at Trustee's discretion.
<br />14. Fen and Expenses. In the event Trustee sells the 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, including all Trustee's fees, and Lender's
<br />and Trustee's attorneys fees. actually incurred to extent permitted by applicable law 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 wresuit of Trustees default, including without limitation all Trustee's and attorney's fees. to the extent permitted by
<br />applicable law.
<br />15 Future Advances. Upon request of Borrower, Lender maj. at its option. rnake additional and futuro advances and re
<br />advances to Borrower Such advances and readvanceS. Willi interest thereon. shall pe secured by this Deed of Trust At nu tine shad
<br />the prrh; ipal amount of tho mdubtedvess se e.sted by this Heed of Trust, vo! i"Lludmit sums �tivanCL'� tr3 prvteGt ttitJ 3eCuttty Uf th +s
<br />Deed pt trust exceed the ongrnat principal amount Stated heretic. or S ;.40r900. 9 . ,V61010. er iJ tyeltEtr t
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