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- tai°•. ,�� go-- 106 176 the Property Is so taken or damaged. Lender shall have the option, in Its sole and absolute discretion, to apply all such Proceeds. after deducting therefrom all costs and expenses incurred by It In connection with such Proceeds, upon any Indebtedness secured hereby and in such order as Lender may determine, or to apply all such Proceeds. after such deductions, to the restoration of the Property upon such conditions as Lender msy determine. Any application of Proceeds to Indebtedness shall not extend or postpone the due date of any payments under the Note, or cute any default thereunder or hereunder. Any unapplied funds shall be paid to Trustor. 8. Performance by Lender. Upon the occurrence of an Event of Defaultbereunder, or it any act is taken or legal proceeding commenced which materially affects Lender's Interest in the Property. Lender may in its own discretion. but without obligation todo so, and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Truster has agreed but fails to do and may also do any other act it deems necessary to protect the security hereof. Truster shall, immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender In connection with the exercise by Lender of the foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be added to the indebtedness secured hereby. Lender shall not incur any liability because of anything it may do or omit to do hereunder. 9. Hazardous Materials. Truster shall keep the Property in compliance with all applicable laws, ordinances and regulations relating to Industrial hygiene or environmental protection (collectively retailed to herein as "Environmental Laws "). Truster shalt keep the Property lreefrom all substances deemed to be hazardous or toxic under any Environmental Laws (collectively refer cud to herein as "Hazardous Materials'). Truster hereby warrants and represents to Lender that there are no Hazardous Materials on or under the Property. Truster hereby agrees to indemnity and hold harmless Lender, its directors, officers, employees and agents, and any successors to Lender's interest, from and against any and all claims, damages, losses and liabilities arising In connection with the presence, use, disposal or transport of any Hazardous Materials on, under, from or about the Property. THE FOREGOING WARRARTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST. 10. Assignment of Rents. Trustor hereby assigns to Lender the rents, issues and profits of the Property; provided that Trustor shall, uati :l'the occurrence of an Event of Default hereunder, have the right to collect and retain such rents. issues and profits as they become due and payable. Upon the occurrence of an Event of Default, Lender may, either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security. em r upon and take possession of the Property, or any part thereof, in its own name or in the name at the Trustee, and do any acts which it deems necessary or deeirlWe to preserve the value, marketability or rentability of the Property, or any part thereof or interest therein. increase the income Ifsendrom or protect the security hereof and, with or without taking possession of the Property, sue for or othen:rista� collect the rants, issues ard profits thereof, including those past due and unpaid, and apply the same, less cosh and expeeseta of operation and collection including attorneys' fees, upon any indebtedness secured hereby, all in such order as Letder may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure ,r waive any default or notice of default hereunder or invalidate any act done in response to such defaw a or pursuant to such ref ce cC default and, notwithstanding the continuance in possession of the Property or the cogectior, revd.pt and application of rents. issues or profits, and Trustee and Lender shall be entitled tri exercise every right provide -tar n•t any o`t'he Loan Instrur.,eals or by law upon occurrence of any Event of Default including without limitation the right to exarcisie t!1P• pzwrer of sale. Furl *er, ?eider's rights and remedies under this paragraph shat I t;,ee cumulative with, and in na way ar limitation cm. Lerdeesrights and remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee and the receiver shhal' be liable to account only far those rents actually received. 11. Events of Default. The following shall constitute an Event of Default under this Deed of Trust: (a) Failure to pay any Installment of pnncipal or interest of any other sum secured hereby when due: Co) A breach of or default unt ler any provision contained in the Note, this Deed of Trust any of the Loan Instruments, on any other lien or encumbrance upon u -im PtoPeOy; (c) A writ of execution or attachment or any similar process shall be entered against Trustor which shall become.: Iiun. on the Property or any portion thereof or interest therein; (d) There shall be filed by or against Trustor or Borrower an action under any present or future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shall be appointed any trustee, receiver or liquidator of Trustor or Borrower or of all or any part of the Property, or the rents, issues or proldstInereefi. or Trustor or Borrower shall make any ger:eral assignment for the benefit of creditors. „e) The sale, transfer, tease, assignment, conveyance or further encumbrance of all or any part of or any nleres: in the P- :perty. either voluntarily or involuntarily, without the express written consent of Lender: provided that Trustor shall be permitted to execute a lease of the Property that does not contain an option to purchase and the term of which does not exceed one year (f) Abandonment of the Property: or ;g) If Trustor is not an indiv:duai. the issuance, sale, transfer, assignment, conveyance a► encumbrance of more than a total o; percent of (if a corporation) its issued and outstanding stock or (if a partnership) a total of percent of partnership interests during the period this Deed of Trust remains a lien on the Property. 12. Romedles -, Acceleration Upon Default. lr•_ v^e event of any Event of Default Lender may, without notice except as required by law, Qec are all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable wittmut ary presentment, demand. ,protest or notice of any kind. Thereafter Lender may. (a) Demand that Trustee exercise the POWER OF SALE granted herein. and Trustee shall thereafter cause Truster's interest in the Property to be'sci(f and the proceeds to be distributed, all in the manner provided in the Nebraska Trust Deeds Act; (b) E erCise any and all rights provided for in any of the Loan Instruments or by law upon occurrence of any Event of Default: and Cc) Corm ence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the covenants hi�reaf. No rem ady.. therein conferred upon or reserved to Trustee or Lander is intended to be exclhisveaf any other remedy herein, in the tLQan:iji4irarnents or by law provided or permitted, but each sliall•be cumulative. shall be In addition to every other remedy. given Iser.Crar+��h_ {, in the Loan Instruments or now a hereafter ex sting 3v.aw or in equOy. Or by statute; and m;iy, LCraverused cancurrently, incteperrtentiy or successively. 13. Trustee. The Trustee may resign 'at any lime 441110ur cause. and Lender may at any time and" wilbout cause appoint a successor or substitute Trustee. Trusise shall not beriable!a ,my party. including witno.ut lifritation Lender. Borrower. Trustor or any purchaser of the Property, for any loss or damage unless due-w riaddess or mlrful and shall not be required'to inIce any action in connection with the enforcement of this Deed at Trust' unless mdemnbfied. In' Nunting, for all costs, compensation or expenses which may be associated therewith. In addition. Trusire may bt- uzine -a, purchaser at any sale of the PropsrlyOudicial or under the power of sate granted herein); postpone the sale of ail or any pailion of the Property. as provided by law: qr sell the Property as a whole. or in separate parcels or lots at Trustee's discretion. 14. Fees and Expenses. In the event Trustee sells the Property by exercise of power of sale. Trustee shall be entltidd to apply any sate proceeds first to payment of all costs and expenses of exercising power of sale, including a!I Trustee's tees, and Lender's and Trustee's attorney's fees. actually incurred to extent permitted by applicable taw. In the event Borrower or Trustor exeresses any right provided by law to cure an Event of Default. Lender shall be entitled to recover from Trustor all costs and expenses actually incurred as a result of Trustor's default, including without Imitation all Trustee's and attorney's fees. to the extent permitted by applicable law. 15. Future Advances. Upon request at Borrower. Lender may, at its option, make additional and future advances and re- advances to Borrower. Such advances and readvances, with interest thereon. shall be secured by this Deed of Trust. At no time shall the principal amount of the indebtedness secured by this Deed of Trust, not includinq sums advanced to protect the security of this Deed of Trust exceed the original principal amount stated herein. or S 60, 000 .00 whichever is greater. i iI k . 1 L- i -r �'AM.