|
F� , '
<br /> �. . .. ��, ' ..
<br /> 7.Eminent Domein.Lender is hereby assigned all con,pensation,awards,damages and other payments or relieE lhereinafter'Proceeds')
<br /> in connoction:.vith condemnation or other taking oi the Property or part thereof,or for conveyance in lieu of condemnation.Lender shall
<br /> taken or damaged, lender shall have the option in its snle end absolute discretion,to appiy all such Proceeds,after deducting therefrom
<br /> a11 costs and expenses incu�e.d by 7 in conneciion with s�ch Proceeds, upon any mdebte�iness secured hereby and in such order as
<br /> Lender may deterr^ine, or to appty ali such Proceeds,aftcr Such deductions,to the restorati�o�of the Property upon such conditions as
<br /> Lender may d�termine. Any applicatia�o!Proceeds to:nde6*.edness sha0 not extend or postpone the due date of a�y payments under
<br /> the Note,or cure any detauit thereunder or hereunder.Ixny unappiied funds shall bo paid to Trustor.
<br /> 8. Performance by Lendar. Upon the occuttence of an EveRt cf Defauft hereunder, or if any act is taken or legal F�roGeed�ng '
<br /> cammenced which mnteriaNy affects lender's interest in Lhe FYoperty,lendv rtsay in hs own discretion,but without obligation to do so,
<br /> � and without notice to or demand upon Trustor a�d wkhout releasing Trusto�from tiny obligation,dQ zany aCt whicfi Truster has agreed•
<br /> � but fails to do and may also do any ather act it deems nacessary to protact the security hereof.TrustoD ahall,�imRnediately vpon demand
<br /> i there�or by Lender, pay to Lendec ail costs and expenses incurred and sums expended by Le�der in connection with tt�e exercise by
<br /> �?� Lender of tne io�egoing righcs, together with inSerest thereon et the defauit rate proVided in the Note, which shall �e added to the
<br /> in�ebtednesa secured hereby.Lender shail noi incur any liability because of anything it may do or omit to do hereunder. �
<br /> �. 9.Hexe�daus MeterSals.Trustor shall keep the Pioperty in compl(ance with at1 appl�cable taws,ordinances and regulations relating to
<br /> ti�*{•-{ndustriai nygiene or environmental protection (collectively retened to hereon as 'Environmentaf Laws').Trostor shall kaep the rtoperty
<br /> � hev from ali substances deemed to be hazardous or toxic under any Environmental La.ws (collectiveiy referred to harain as 'Hazardous
<br /> �- Materials"). Trustor hereby warra�ts and represents to Lender that there are no HaT�rdous Material on or under t�e Property.'Trustor
<br /> hereby agrees to indemnify and huld harmless Lender, its directors, officers, em�:�oyees and agents, and any successors to Lende�"s
<br /> �interest, irom and against any ar,d all claims, damages, fosses an�i (iabilities brising in con�ection v�ith the presersce, use, disposal or
<br /> transport of sny Hazardous Materials on,under,from or about the PropertN.THE FOREGOING WARRANTIES AND REPRESENTATIONS,
<br /> AND TRUSTOR'S OBl1GATiQNS PURSUANT TG Tt�E FOREG0ING INDEMNFTY,SHALL SURVIVE RECONVEYANCE OF THIS DEE�OF
<br /> TRUST.
<br /> 10. Assignment o!Rents. Trustor hereby assigns tc tende�, arsd grants Le�der a security interest in, ail present, future end otter
<br /> rising re�ts, issues and �rofits of tise Ropert�; provided that Tn;stor shafl, until the occurrence of an Event o} Defauit hereunder, have
<br /> the right to collect and retain such rents, issues and profits as they become due and payable. Upan the occurrence of an Event of
<br /> Default, Lender may, either in person or by agent, with or without bringing any action or pr�ceeding, or by a receher appoir:a� by a
<br /> court and without regard to the adequacy of its security, tnter upon a�d take possession o!the Property,or eny part thereof,!n i:s�:m
<br /> name or in the name oT the Trustee, and da any ects which R deems necessary or desirabla to presarve the value, narketabitity o�
<br /> rentability of the Propertv,or eny part thereof or interest thnrain,or te in�rease the income there4rom or protect the security hereof and,
<br /> with or without taking possession of the r�ropeM�,s��e for or�thervvise coHect the rents,issues and profits iheraof,including those pas2
<br /> due ard unpaid,by notifyinfl tenar,ts to make paymen:s t�lsnder. Lender may apply rents,issues and profits,less costs and expenses
<br /> oi ooeration and coiler.tion�ncluding attomeys'fees,to any indebtedness secured hereby,alI in suci�order 2s Lender may determine.ThE
<br /> entering u�on and tak.ing possessicn ot the 3'roperty, the collectlon oi such reots, issues and protits, and tho application thereot as
<br /> aforesaid, shall not cure or waive any detauh or notice of default hereunde:or invalid�te any act done in response to such default or
<br /> pursuant to such notice of default and, notwithstandtng the continua�ce in possession of the Properry or the colleciion, receipt and
<br /> applicstion ot rents, +ssues or profits, Trustee and Lendar shall be entKled to exercise every right provided far in any of the Loan
<br /> Instruments or by law upon occurrence of any Evant oi Dat�ih, includi�g without limitation the right to axercise the power of sale.
<br /> Further, Lander's rights and remedies�nder this paragraph shall be cumulative with, and in no way a limitation on, Lender's rights and
<br /> remedies under any assignment of Ieasas and rents recorded against the Property. Lender, Trustee and tne receiver shall be liable ta
<br /> aceount only tor those rents actually received.
<br /> 11.Events of Deteuh.The fo!lowing shall constitute gn Event of Oefauit under this Deed oi Trust:
<br /> (a1�ailure 4o pay any installmsnt of principal or interest of any other sum secvred hereby�vhen due;
<br /> (b)A breach of or default w�der any provision contained in the Note,this Deed of Trust,any ot tha Loan Instruments,or any
<br /> other lien or encumbrance upon the Property;
<br /> (c)A writ of execution or attachment or any similar process shall be entered apainst Trustor which shat!become a lien on the
<br /> Property or any portion thereaf or interest iherein;
<br /> td1 There shall be filec!by or against Trustor or Sorrower an nction under any present or future federal,state or other statue,law
<br /> or regulation relating to bankrupicy, insolven,ry or other relief for debtors;or there �hall he appointed any trustee, receiver �r
<br /> liquidator ot Trustoi or Borrower or ot all or any part of the Property,or the rents,issuas or profits thereof,or Trystor or Borrower
<br /> shall maY,e any ge�eral assig�ment tor the benefit of creditors;
<br /> (e}The sale,transfee,lease,assignmant,conveyance or further encumbrance of all or any part ot or any interest in the Property,
<br /> either voluntarily or i�v�luntarily,without the expr:ss written cansent of Lender;nrovided that Trustor shall be permitteo to execute
<br /> a lease of the Property that does not contain an aption to purchase and the term ot which does not exceed one year;
<br /> (f) Abandonment of the Property;or
<br /> lg) If Trustor is no: an individual, the issuance, sale, transfer, assignment, conveyance or encumbrance of more than (if a
<br /> corporation) a totai of x/s, percent of its iss�ed and outstanding ator,k, or (if a partnership) a total of N/A � percen! of
<br /> partne;ship i�terests, or (iTa limited Iiability company) a total of N;� parcen't oi tho limited Iiability company i�terests or votinp
<br /> rights during the period this Deed of Trus,remains a lien on the Property.
<br /> 12.Remsdies;Accaleration Upo�Detouft.In the Qv�nt of any Event of Default Ltrnder may,without notice except as required by law,
<br /> declare all indeE�tedness s�cured herqby to be due and payable and the same shall thereupon became due and payab{e without any '
<br /> presentment,ciemand,protest or notice ot any kind.Thereafter Le�dar may:
<br /> (a)Oemand that Trustee axercise the POWEfl OF SALE granted herein, and Trustee shall thereatter cauae Trusto�'s Interest '
<br /> in the Property to be sold and the proceeds to be distributed,a10 in the manner provided in the Nebraska T�ust Deeds Act; '
<br /> fb)Exercise any rnd all rights provided for in any ot the Loan Instruments or by law upo� occunence of any Event of '
<br /> Default;and ,
<br /> ici Commence an action to forecloss ths Deed ot Trust as a mortgage, appoint a roceiver,or specifically entorce any of the '
<br /> coven3nts hereot. '
<br /> No remedy herein conierred upo� or reserved to Trustee or Lender is i�tended to be exclusive of sny other remedy herein, in the Loan
<br /> Instruments or by law pravide.d or permitted,buc each shall be cumulative,shall be in addRion to every other remedy given hereunder,in '
<br /> the loan Instruments or now or hereafter existing at taw or in equity or by statute,and may ba exercised concurrently,independently or
<br /> successively.
<br /> 13.Trustee.The Trustee may re�ign at a�y time without cause,and Lender may at any time and without cause appoint a successor
<br /> or svFs[itute l'rustee.Trustee sha;l not be Iiable to sny party, 9nduding without limitation Lender, Borrower,Trustor or any putchaser of
<br /> the P�oaerty, for any loss or damage unless due to reckless or willful misconduct, and shall not be required to take any action in
<br /> connection with tha en�orcement of:his Deed o!T;;>;�nless indemnified,in wrhing,!or�II costs,campensation or expenses whlch may
<br /> be associsted ti�erewith, In additian, Trustee may become a p!�r�haser at eny sale of the Property (judicial or under the power o4 sala
<br /> granted hPrein);postpone the sale of a!I or any portion of the Property,as provl�ed 6y Iavr;or seil the Proper;y es a whole,or in separate
<br /> parceis orlots at Trustee's discretion.
<br /> 14.Feas and Expe�aas.1�the event Tn:stee se!Is the Property by exercise of power of sale,Tr�stee shall be entitlod to apply any sale
<br /> proceeds first to payment of all costs and expenses of sxerciaing power ot sale,including aN Truetee's te�s,and Lender's a�d Trustee's
<br /> attorney's fees,actua!!y incurred to extent pesmitted by applicabte law. In the event Borrower or Trustor exercfses any righ;provided by
<br /> Iaw to cure an Event of �efault, Lenaer snall be entitled to recover from Tnistor alI costs and ezpenses a�ually incutrfld as a result o( '
<br /> Trustor's default,including wrhovt IimRarion all Trustee's and attomey's fees,to the extent permftted by applicable law.
<br /> 15.Future Advance:. Upon request of Etorrawet, Lender may,at its option,make additional and future advances and readvances to
<br /> Berrower. Such advances and readvances, w�th interest thereon, shall be secured by this Deed of Trust. At no tlma ahall the principal
<br /> umount of the indebtedne.s secured by this Deed of Trust, nat including sums a�vanced to protact tha e:rurity ot this need of Trust,
<br /> exceed the original principa!amount steted herein,or 9 sss,oao.oo ,whichever Is gresi9r.
<br /> r
<br /> i
<br /> e
<br /> F:
<br /> Y
<br /> : �;
<br /> �
<br /> a,
<br /> ;i�.. N8C34578 lNorug.icultural DeeC�pav,g195 -
<br /> '':;. 7 9[E WtbnY Bank ot Cann�rc�Trvat�nd S � _
<br /> <.. avi^G+I�asoctation.L4�cdn.N�GWa . _
<br /> Y � ,
<br /> �. '
<br /> y�.
<br /> S
<br /> ��� , ,\,� �
<br /> �, .
<br />
|