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• 89-- 104931
<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 casts 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 ail such Proceeft after such deductions, to the restoration of the
<br />. Properly upon such conditions as Lender may determine. Any application of Proceeds to indebtedness shall riot 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. Periprmtnce by Lender. Upon the occurrence of an Event of Defaultbereunder. or tf any act is taken or fegal proceeding
<br />commenced which materially affects Lender's interest in the Property, lender may in its oven 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 Truster has
<br />agreed but tails do and may also do any other act it deems necessary to protect the security hereof. Truster shall, immediately
<br />upon demand therefor by Lender, pay to Lender ail 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 deisuit rate provided in ttte Note. which shall be
<br />added to the indebtedness secured hereby. Lender shall not incur any liablfiry because of anything it may do or omit to do
<br />hereunder.
<br />9_ Hazardous (Materials. Truster 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 Laws "). Truster shall
<br />keep the Property free from all substances deemed to be hazardous artOr under any Environmental taws (collectively referred to
<br />herein as "Hazardous Materials "). Trustor hereby warrants and rear rits to Lender that there are no Ha, srdous Materials on or
<br />under the Property. Trustor hereby agrees to indemnity amtllcta' ;rarrrilsss Lender. ifs directors. officers. employees and agents. and
<br />any successors to Lenders interest from ana againet ant mrd a;l „;aims, damages, losses and liabilities arising in connection with
<br />the presence, us, disposal or transport of any l4>.'_4e s material's +zit, under, from or about the Property. THE FOREGOING
<br />WARRANTIES JiK0 REPRESENTATIONS, /�1�UTRUSTOR'SOBLIGAT1 NS PURSUANT TOTK FOREGOING WDi:iN:�"11Y.SHALL
<br />SURVIVE RECOfWEYANCE OF THIS DEED OF TRUST..
<br />f2. Assignment of Rents._ Trustor hereby assigns to F -4nder the refits, issues and profits of the Property; provided that Truster.
<br />_iWf„ runtil the occurrence cf am* Event of Default hereur dz , have the right to collectiand retain such rents, Issues and profits as they
<br />teo;r*F due and payable. Upon the occurrence of are C-uent of Default. Lender may, either, in person or by agent, with or without .
<br />tur ng any aetf= or proceeding, or by a receiver appointed by a court and without regain tu- {he adequacy of its security, enter
<br />upC+?and take possession of the Property, or any partthereof, in its. iw.a.. game or in the name of the Trustee, and do any acts which it
<br />dieefrnsnecessary or desirable to preserve the value, marketability or rs lability of the Property. or any part thereof or intermit therein,
<br />ir,al�+e the income therefrom or protect the security hereof and, with or without taking possession of the Property, sue for or
<br />d1t,W.,vise collect the rents, issues and profits thereof..'mrJuding those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection including attorneye:'fees, uparr.any indebtedness secured hereby, all in such order. as.Lender
<br />may determine. The entering upon and taking possession of the Pru;�erty. the collection of sucti..rents, issues and pr . and the
<br />application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any eta done in
<br />resoase to such default or pursuantto such notice cf def. ult and; rinwrithstanding the continuance in possession of the Property or
<br />the arllection, receipt and application of rents, issues, claw- profits, and Trustee and Lander shall be entitled to exercise every right
<br />pro. ijed for in any of the Loan Instruments or by taw upo*'� occurrence of any EvcMxf Default, including without limitation the right
<br />to exercise the power of sate. Further, Lender's rights and remedies under this p rsgraph $halt be cumulative with, and in no way a
<br />limitation on, larder's rights and remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee
<br />and :t-e remi-.i - a call be liable to account only for these, rents actually received.
<br />4 t T. events of f)ehuit. f iia 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 lathe Note, this Deed of Trust, any of the loan lnstrufren'a or any
<br />other lien or encumbrance upon the Property: '
<br />(c) A writ of execution or attac�hrrcr-1 or any similar process shall be entered against:Tnstor which shall becc+i•c a lien on
<br />the Property or any porticn thereof &,;, Merest therein;
<br />(d) There shall be filed by cr against Trustor or Borrower an action under any present or future federal, state or other
<br />statute, law or regulation relating t m `aankruptcy, insolvency or other relief for debtors; or there shall be appointed any trustee,
<br />receiver or liquidator of Trustor cr Gor'ower or of all or any part of the Properly, 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 sale, transfer, lease, s:.,^si,gnment, conveyance or further encumbrance of all or any part of or any interest in the
<br />Property, either voluntarily or involuntarily, without the exprc -as written consent of Lender, provided that Trustor shall be
<br />permitted to execute a laaaa of the Property that does not contain an optien to purchase and the term - iwhich does not exceed
<br />one year;
<br />(f) AWild.onment of the Property; or
<br />(g) if Trustor is not an individual. the issuance, sale, transfer.: assignment, conveyanr;�e c:�^erct<zt trance of more than a total
<br />of percent of (if a corporation) its issued and outstanding stock or (if a partner:lisp) a total of percent of
<br />partnership interests during the period this Deed of Trust remains a lien ui the Property.
<br />12. Rs+rtadNs; AecsNratiott Upon Detauft. In the event of any Event of Defhull. _ender may. without notice except as required by
<br />taw; declare all indebtedness secured hereby to be due and payable and 11-m same shall ifiereupon become due and payable
<br />without any presentment, demand, protest or notice of any kind..ThaveaEter Lmider may:
<br />(a) Demand that Trustee exercise the POWER OF SALE granted heroin, and Trustee shall thereafter cause Trustor's
<br />interest in the Property to be sold and the proceeds to be dl&ttifiuted.'git in tt.e manner provided in the Nebraska Trust Deeds
<br />Act
<br />(b) Exercise any and all rights provided for in any of ti* 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 shalt 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. Trustee. The Trustee may resign at any time without cause. and Lender may at any tine and without cause appoint a
<br />successor or substitute 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 />czponrte which may be ?SWIated therewith. In addition. Trustee may become a purchaser at any sate 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 ft's
<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 to payment of all costs and expenses of exercising power of sale, including all Trustee's fees. and Lender's
<br />And Trustees attorney'sfees, 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 Defau!1. Lender shall be entitled to recover from Trustor all costs and expenses actually
<br />incurred as a result of Trustor's default, including without Imitation all Trustees and attorney's fees, to the extent permitted by
<br />applicable law.
<br />15. Futures Advances. Upon request of Borrower. Lender may, at its option, make additional and future advances and re-
<br />advances to Borrower. Such advances and readvances. with interest thereon. shall ae secured by this heed of Trust. At no time shall
<br />the principal amount of the indebtedness secured by this Deed of Trust, not including sums advanced to protect the security of this
<br />Deed of Trust. exceed the original principal amount sated harem, or $ wrlichever Is greater
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