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<br />89--104847
<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 />alter 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 />Property upon such conditions as Leader may determine. Any application of Proceeds to indebtedness sh_!l 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. Parkwmance 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 Truslor 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 tfdetault rate provided in the Note, which shall be
<br />added to the indebtedness secured hereby. Lender shall not incur any liabiliti- t emse of anything it may do or omit to do
<br />hereunder.
<br />9. Hazardous Materials. Trustor shall keep the Property in compliance with a!'s applicable laws. ordinances and regulations
<br />raiatS" % to industrial hygiene or environmental protection (collectively referred lxi- herein as "Environmental Laws"). Trustor shall
<br />koep". , Property free from all substances deemed to be hazardous ortoxic under, any Environmental Laws (collectively referred to
<br />heri6;nZ�s "Fla ardous Materials77• Trustor hereby war- --Ws and represents to Girder that there are no Hazardous Materials on or
<br />uriart r ..F��aY'y. Trustor hereby agrees to indemn ifs. anal hold harmless Lender, its directors, officers, employees and agents, and
<br />arrp?si�^0essfitat o Lender's interest. from and against �~� ,sd a r.�sii -:s, damag0s, tosses and liabilities arising in connection with
<br />thiw (presence', use, disposal or transport of any Haz:Bu +mita.lb!y �.ia ;J.s om under, from or about the Property. THE FOREGOING
<br />SPiA! ANTIES AND REPRESENTATIONS, AND TRUST�,s'- .R.'i5 IGATIONS PURSUANT TO THE FOREGOiNG INDEMNITY, SHALL.
<br />SURVIVE RECONVEYANCE,OF THiS DEED OF TRUST
<br />10. Assigmw4vit of PWrft Trustor hereby assigns to Lender ttre• rents, issues and profits of the Property; provided that Trustor,
<br />shall, until the flic& '; ,4t a of an Event of Sefault hereunder, have tua right to collect and retain such rents, issues and profits as they
<br />become due and paysbfe: Upon the occurrence of an Event of Celimult, Lender may, either in person or by agent, with or without
<br />bringing any action or p�Trjcreding, or by a receiver %� izinted by a court and without regard to the adequacy of its security, enter
<br />upon and take potisessicrr 0.'3he Property, or any park ig! -eof, in its own name or in the name of the Trusts*~, ar id do any acts which it
<br />deems necessary or desirable to preserve the value, me lr ,atability or rentability of the Property, or any part s of or interest therein,
<br />increase the Income therefrom.or protect the stcurityriereof and, with or without taking possession of t�e Property, sue for or
<br />otherwise collect the rents, issues and profits thereof, including (nose past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection including attorneys' fees, upon any indebtedness secured hereby, all in such order as Lender
<br />may determine. The entering upon and taking possession of the Property, the &P.ection of such rents, issues and profits and the
<br />application thereof as aforesaid, shall not cure or waive any default or not6&oVr:etault hereunder or Invalidate any act done in
<br />response to such default crj ursuant to such notice of default and, natvliths%rafinq fne continuance in possession of the Property or
<br />the cpllectian..;receipt and.application of rents, issues or profits, srsr trustee sold Lender :3taii use entitled to exercise every right
<br />prcrpmdd f f 'i vise : of the `.ce : Instrument Z av by taw upon occurrimcicfany Event of DefauN lmfuding without limitation the right
<br />of We- f=urther, Lender's rights and remedieti w3 der this paragraph shat+. be cumulative with, and in no way a
<br />93tttp'1 s "tit fir, :: Lender's rightls..wd remedies under ariyaw" gnment of leases and rents recorded against ttief?rupserty. Lender, Trustee
<br />and the receiver shall be liable to account only for tlivse rents actually received.
<br />11. EvoWis-of Default The following shall constitute an Everit R.t Default under this Deed of Trust:
<br />(ai t'-aii are to pay any installment of principal or interes: ol',any other sum secured hereby whey dLe;
<br />(b) A breach of or default under any provision, containeQ iii itie Note, this Deed of Trust, any of the L.44n, lnstrulttisnt% or any
<br />Other lien+ rr encumbrance upon the Property,
<br />(c) A writ of execution or attachment or any am-.iar process shall be entered against Trustor whicts s? -all become a lien on
<br />the Property or any portion thereof or interest therein;
<br />(d) TAere shall be filed by or against Trustor or Bormwor an action under any present or future federal, state or other :
<br />statute, ::a& or regulation relating to bankruptcy, insolvency er other relief for debtors; or there shall be appointed any trustee.' .
<br />receiver cr liquidator of Trustor or Borrower or of sit ar any rx.,ri. cf the Property, or the rents. Issues or profits thereof. or Trustor .
<br />or Borrower shall make any general assignmealor- we benefit of creditors;
<br />(e) The safe, transfer, lease, assignment, ccriverance or further encumbrance of all or any pan cf or any interest in the
<br />Property, either voluntarily or involuntarily, without the express written, consent of Lender, provided that Trustor shall be
<br />permittedito execute a tease of the Property that does not conl i n an option to purchase and the term of which does not exceed
<br />one year,
<br />(f) A-bandonment of the Property; or
<br />(g) if Trustor is not an individual, the issuance. sale, transfer, assignment, conveyance or encumbrance of more than a total
<br />of 5:1n, percent of (if a corporation) its issued and outstanding stock or (if a partnership) a total of percent of
<br />partnefsllip interests during the period this Deed of Trust remains a lien on the Property.
<br />12. Rev We; AcceNration (Upon Default. In the event of any Event of Default Lender may, without notice except as required by
<br />law, declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable
<br />without 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 shall thereafter cause Trustor's
<br />interest in the Property to be sold and the proceeds to be distributed, all in the manner provided 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 to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the
<br />covenants hereof.
<br />No remedy herein 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. The tie. The Trustee may resign at any time without cause. and Lender may at any erne and without cause appoint a
<br />successor or substitute Trustee. Trustee shall notce liable to any party, including without limitation Lender, Borrower, Trustor or any
<br />purchaser of the Properly, 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). po3tponi3 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 Trustees discretion.
<br />14. Fees and Expenses. In the event Trustee seiis the Property by exercise of power of salts. Trustee shall be entitled to apply
<br />L any sale proceeds first to payment of all costs and expenses of exercising power of salt% including all Trustee's fees, and Lender's
<br />and Trustee's attorney's fees_ actually incurred to extent pemiMeJ by applicable lay. in the event Borrower or Trus!at exercisus any
<br />right pia vded by taw lu cure an Event of Default. Lender stiait be enmtr;d to recover fruire ?rusty► all costs and expenses actually
<br />incurred as a result of Trustor's default_ ,ncludmg w,thoul l,rmtavon all Trwees and attorneys tees. to that e-itf:nt permitted b1t
<br />aript ;cable laar
<br />15 Future Advances. Upon request of Soiroaer, Lerder may. at its option, make addit Deaf and t_,ture advances and ie-
<br />adianwsto Mrrower Such advanees,nd readvances. with .nterest th sea,,. shaii be sec u'ed by this O ela of Trust Al oo t me sh.,,O
<br />the ptincipai amount of *.ho -debtedriess secured bf Ibis col "K i ,11),r,y 4u'r15 d isd' (.CJ hs C•rrtter.t tnit :sec• ui,t f of 1ms,
<br />Deed 0 Tt;st fnce,ed f-he ufrg•nal p1511t, pal aintiurit statcJ 1,we ,. cr S 740 i 000.00 a .: -hexer :s c ;neater
<br />$6
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