|
r
<br />gg... 1,0543 7
<br />to ft *",% Is so %"n or damaged. Lender shall hays" option, in its such Proceeds,
<br />afterdedue tgifler efromalt cosbandexpensesincurredbykinaorutectlon witr' �sOchPioCeetk %upoh.ttnyindebMdnesssecured
<br />hereby and in such order as Lender may determine. or to ap* all such Proceeds, after ageh deductlons, to tha reolorstion of the
<br />• s Property upon such condiaorts a Lender may do*.. Ins. Any appllcaaiort of Proceeds to i_rtdettlsdnotes shah not exNnd or posillpona
<br />the due date of any payments under the NOW, or cure any default thereunder or Itsreundiv. Any unapptieed funds shall be paid to
<br />TruslO► _ _ _ _
<br />—� - -- - -- - - :ere Letltriu Upon the occurrence of an Event of Oefaultlleretinder. of if any act is taken or IegN proceeding — -
<br />commsrteed which mabriaty affects Lender's interest in the Property, Lender mayiMffsown discretion. but witimmobligalion lo do
<br />A% and WNI& t ftolicw b or dWnAnd upon Titterer and without oeleasing Tr $W fr+:Many obligation, do any act which Trustor hoe
<br />- sWeed but haute do and -may also cfo -any outer act Rdserrts necessary to protecting. security hereof_ TnusW sMB; im111ediaMy,
<br />upon demand therefor by Under, pay b tender all costs and expenses incurred and sums expended by Lender in connection with
<br />the exercise by Lender of the foregoing rights logetheir with interest thereon attho esfault rate provided in the Noe. which shall be
<br />a added lo go I idsbied I sea secured Hereby. Lander shalt not incur any lial lIty because of anything it may do or omit to do
<br />hereunder,
<br />9. Haa wdew Maledaie. Trustor shall keep the Property in coingoliance with all applicable laws. ordinances and regulations .
<br />retailing to Industrial hygiene or environmental protection (collrectively referred to herein as "Environmental La►ws'y, Trustor shall
<br />keep the Property free from all substances doomed to be hazardous cr toxic under any Environmental Laws (collectively referred to
<br />herein as "Hazardous MateriaWl. Trustor hereby warrants and represenfs tc:.,Uux r that there are no Hazardous Material* on or
<br />under Me Property. Trustor hereby agrees to indemnify and hold PararlessLtnder itsdirectors , officers, employees and agents. and
<br />any successors to Lender's interest; from and against any and all claims, damages, losses and liabilities arising in connection with
<br />the presence. use, disposal or transport of any Hazardous Matar'als on, under, from, qr about the Property. THE FOREGOING
<br />WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL
<br />SURVIVE RECONVEYANCE OF THIS DEED OF TRUST. ;; ,•. ,
<br />10. Assignment of Refits. Trustor hereby assigns to Lender the renfs,:Ibsi es and profits of the Property; provided that Trustor
<br />shall, until the occurrence of an Event of Default hereunder, have tire; right to collect and retain such rents, issues and profits as they `s
<br />become due and payable. Upon the occurrence 9f an Event of Default, Lender may, either in person or by agent with or without
<br />bringing any action or proceeding, or by a receiver appointed ty a court and without regard to the adequacy of its security, enter
<br />upon and take powession of the Property, or any .part thereof, ftl itiiown name or in the name of the Trustee, and do any acts which it
<br />deems necessary or desirable to preserve the value.markefability or rentability of the Property, or any partthereof or Interestthereirr,.
<br />increase the income therefrom or protect the security hereof and, with or without taking possession of the Property, sue for ter,.
<br />otherwise collect the rents, Issues and profits th4eof, including those past due and unpaid, and app t+te same, less costs axe
<br />s expenses of operation and collection. including attorneys fees, upon any indebtedness secured hereby, alt in such order as Lender
<br />may determine. The entering upon, and. taking possession of N.: Property, the collection. at "such rents. Issues and profits and the
<br />Application thereof as aforesaid, shall not cure. or waive any default or notice of dafaWil tfraundetr cur, invalidate any act done in
<br />response to such defaul torpursuantl osuchnogteai ~ default and, notwithsta-n:� ag the corY6,% ance ianfrssseselonofthePropertymr r'
<br />the collection. receipt and application of rents, mmiii or profits, and Trustees z id Lender shall be � red to exercise every rr '
<br />provided for in any of ttte Loan Instruments crby law upon occurrence of any -vent of Default. inefuOr „.g without limitation the r)ptrt
<br />to exercise the power of sale. Further, Lenders rights and remedies under this paragraph shall be cumulativewith, and in no ways
<br />limitation on. Lender's rights and remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee
<br />and the receiver shall be liable to acccuntonly for those rents actually received.
<br />11. Events of Debwii: The fallnwipg- 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 afar ddfoull umie~r any provision contained In the Note, this Deed of Trust any of the Loan Instruments, or any
<br />other lion or encumbrance tipon,lhe Property;
<br />(c) A writaf execution,cr nflatrlT.ment or any similar process shall be entered against Trustor which shall be¢t�me a lien on
<br />the Ixroportyor any pCrlt:n thermcf c^rr interest therein;
<br />(d) There shallibe filed by or against ThXar or Borrower an action under any present or future federal, state or 011W
<br />i statute, law or regulatitin,relating to banlm�pri;.y; insolvency or other relief for debtors; or there shall be appointed any truYf”,
<br />receiver or liquidator of Trustor or Borrower ar of all or any pan of the Property, or the rents, issues or profits thereof, or Trustor
<br />j or Borrower shall make any general 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 executes 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) It Trustor is notan individual, the issuance, safe, tranWAr, assignment, conveyance or encumbrance of mr.re than a total
<br />of percent of (if a corporation) its issued and ouWanding stock or (it a partnership) a ^pal of — percentof
<br />partnership intereaft during the period this Cv :; d of Trust remains a lien on the Property.
<br />12. Remedies; Accolawalien Upiorr Default. it Mod .event of a iy t vent of Default Lender may, without notice except as required t:t -
<br />law. declare all indebtedness securled hereby , .i, are due and, paayable and the same shall thereupon become due and payable
<br />I without any presentment; dsmand;.or •lust or naxe• of any kirA;. Thereafter Lender may:
<br />(a) Demand that Trustee imercise the PGWER OF SALE granted hareln, and Trustee sha'.l thereafter cause Trusties
<br />interest in the Property to be sold and the p:r=eeds to be distributed, ail' Iii the manner provided i n the Nebraska Trust Deems
<br />Act;
<br />(b) Exercise any' and all rights provided for in any of the Loan Instruments or by law upcm� oa.Currenceof any Event of
<br />`�. Default and
<br />;i • .. (c) Commence an action to urtvclose this Deed of Trust as a mortgage. appoint a receiver. or specifically soll,,me any of rte
<br />covenants hereof.
<br />f4o remedy herein conformed upon or reserved id-Trustee or Lender is intended to be exclusive of cvj otter remedy herein, ire ihp
<br />Lan Instruments or by law provided or perrrtlt ef;. t;ut each shall be cumulative, shall be in additiol l(rcveryother remedy gi%tn
<br />hereunder. In the Loan instruments or now or heraafter existing at law or in equity or by statute, and may be exercised concurrently,
<br />indspendentiy or successively.
<br />13. TrL*Wo. The Trustee may resign at any time without cause. and Lender may at any time and without cause appoint
<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 />ex_t+eetp-S wh.k --h tray be a clelew therewifh. In addition, Trustoo ma y boacimr, a purchaovr at any sale of the property Wdicial or
<br />under the pourer of sate 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 tots at Trustee's discretion.
<br />14. fee# 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 sate, including all Trustee's fees, and Lender's
<br />and Trustee's attorney's 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 a result of TvusWt*s default including without limitation all Trustee's and attorney's fees, to the extent permitted by
<br />applresbte law.
<br />15. Future Advance#. Upon request of Borrower. Lender Tray. at its option, make additional and future advances and re-
<br />advances to Borrower Such advances and readvances. with interest tr►ereoo, shall be secured by this Deed of Trust At no time shill
<br />the principal amount of the indebtedness secured by trus heed of Trust. not inc ludrng surraadvancod to protect the security o! this
<br />Deed Qt Trust exceed the otigrnal principal amount stated herein, or S SA, i4QQ.A4 wh�chove+.�s greater
<br />_L
<br />
|