|
W
<br />89-Zb, 105438
<br />to Property Is so taken or damaged, Lender atoll have the option, in its sole and absolute dactslion, to apply all such Proceeft
<br />allor deduct ft lthiensh m ON ct11ets and expenses incurred by it in connechon witA such Proceeds, upon any indebil dneee secured
<br />hereby and in such order as Lender may dsMrmine. or to apply all such Plpcaede, *fed such deductions, to the reMaraHon of the
<br />Property tow rich c0nidWOns so LoWer may determine. Any sppiicalion of Pr+7aeeds b inclabledness shall not extand or poeporte
<br />TruMu►. dUe of any paymMtb under the NOW or cure any default thereunder or hereunder. Any unapplied funds &W be paid b
<br />f
<br />S. Parlmoneee by iLo"er, Upon dte occurrence of an Event of Defauft bsrvunder. or it any act Is taken or legal
<br />f
<br />-
<br />-
<br />�ca mmncrd which maMr kr,Ny Meets LerTder'e Inlaxeet in the Property, Lander mkt in its elan diacrwr�; bul,eiri�� .h
<br />_ — W w— ifW noVei of or- cbma�T suit —4h wFWfhout r 4uln Trusllor from any obligation, do any act which TrtiNov has
<br />aWead bull lasts to do and may also do airy other act it deems necessary to protect tike security hereof. Trustor shall, immediately
<br />u>port dMrtarTd wetor by Larder. pay b1mWer, an cosh and expenses incurred end suns expended by Lender In connAction whh
<br />.::
<br />Ow eroarck a by genderr of thelorisiWAng rights, logeew waft interest "roan at the dehuit rate provided in the Note. which shed be
<br />added to the Indebasdness secured hereby. Lender shall not incur any flability because of anything It may do or omit to do
<br />hansunder.
<br />g. Numdew Mdsrlds, Trustor shall keep tho Property in compliance with all applicable laws, ordinances and regulations
<br />relating to induWial hygfane or environmental protection (collectively referred to herein as "Environmental Laws). Trustor &hail
<br />keep the Property fraefrom all substances deemed to be hazardous or toxic underany Environmental Laws
<br />(collectively referred to
<br />herein as "Hazardous Materials "). Trustor hereby warrants and represents to tender that there are no Hazardous Materials on or
<br />i
<br />under the Property. Truster hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees and agents, and
<br />any successots to lender's Interest from and against any and all claims, damages, iosses and liabilities arising in connection with
<br />the presence, use, disposal or transport of any Hazardous Materials on, under.' from or about the Property. THE FOREGOING
<br />WARRANTIES AND REPRESENTATIONS, AND TRUSTOR S OBLIGATIONS FURSUANT TO THE FOREGOING INDEMNITY. SHALL
<br />SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br />10. AaslprreeM of Rids. Trustor hereby assigns to Lender the rents,. issues and profits of the Property; provided that Truster
<br />shall, until the occurrence of an Event of Default hereunder, have the right to coliect and retain such rents, issues and they
<br />profits as
<br />become due and payable. Upon the occurrence of an Event of Default; Wider may, either in person or by agent, with or without
<br />'
<br />bringing any action or proceeding, or by a receiver appointed by a court and'without regard to the adequacy of its security, nter
<br />ty'
<br />upon and take possession of the Pr opeAy, or any part thereof, in its otivrt name or in the Hama of the Trustee, and do any acts which it
<br />deems necessary or desirable to preserve the value, marketability cr rentability of the Propertj& or any part thereof or interesttherein,
<br />Increase the income therefrom or protect the security hereof and, with ore without taking
<br />possession of the Property, sue for or
<br />otherwise collect the rents, issues and profits thereof, including these past due and unpaid, and apply the same. less cost& and
<br />expenses of operation and collection including attorneys' tees, upon any indebtedness secured hereby, all in such order as Lender
<br />may determine. The entering upon and taking possession of the P,cperty, the c6I6ctfrrn
<br />of such rents, Issues and profits and the
<br />application thereof as aforesaid, shall not cure or waive any defoultier notice of default hereunder or invalidate any act done In
<br />t
<br />+
<br />response to such default or pursuant to such notice of default and, nahvithstanding the continuance in possession of the Property or
<br />the couecdart�, receipt and application of rents, issues or profile, and Trustee and Lender shall be
<br />`,•
<br />entitled to exercise every right
<br />provided for bri ny of the Loan instruments or bylaw upon occurrence of any Event of Default; including, without limitation the right
<br />. ,, r''` < `;';
<br />tit axsrcisd fop. power of safe. Further. Lender's rights and remedies under this paragraph shall becumufaff;fe with, and in no ways
<br />Iiritifxtlon Crt: l ender's rfghts and remedies under any assignment,of leases and rents recorded
<br />.
<br />against tRe Property. Lender, Trustee
<br />and the reces'ver.shall be liable to account only for these rento actually received.
<br />Etr V ti of Dd@WL The following shall constitute an Eventof 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 in•the Note, this Deed of Trust, any of the 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 against Trustor which shall becomes lien on
<br />the Property or any portion thereof or interest theraini.
<br />(d), There shall be tiled by or 8(jainst Trustor or Sorrai<ver an action under any- pnoent or future federal, srsta or other
<br />statute; taw or regulation relating to bankruptcy. insolvency or c2;1er relief or debtors; or there shall be. appoint." arty
<br />trustm
<br />nacefvercr liquidator of Trustor or BorrowererW elt:or any pan of the PrcfrfaA,y, or the rents, issues or-p•�ofits thereof, or. Trustcr•
<br />r Borrower shall make any general assignment• ffsr 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 execute a 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) If Trustor is not an individual, the fusuanw;.rale. transfer, assignmwi7'i, conveyance or encumbrance
<br />of more than a total
<br />of --- percent of (if a corpornitan) its issued and outs Urtding stock or (if a par+.i inzhip) a total of _percent of
<br />partneratfi(rinterests during the perlati,this Deed of Trust rev alms a lien or. the Prop uv-4,•
<br />"
<br />12. RMeabbe; A990e011M11111 Vpon lilelmi& In the:ewfnt of airy Scent of Default Lender rnay. without rcrii%l except as required bit'-;
<br />liwj declare all indebtedness secuted hereby 10,11P dt.e and payable and the same shall thereupon buxme
<br />c
<br />_
<br />due a.M payable
<br />without any presentment, demand, protest or notices alt any kind. Thereafter lender may:
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trua:??e shall thereafter caulsi T►ustor's
<br />interest in that Property to be sold slid, the proceeds to be distribuled, all In the manner i.v4vided In the Nebraska Thast Deeds
<br />,F
<br />Act
<br />(b) Exercise any and all rights pia orrded flair i.°t any of the Loan Instro.,mar-ts or by is a upon occurrence of any Event of
<br />Default and
<br />A
<br />(c) Commence an action fill fpreGlpre this,i]t i:G of Trust as a mortgage, appoint a receiver, or specifically enforce any of the
<br />covenants: hereof.
<br />- -...
<br />No remedy horgin conferred upon or. rel;e11Ved`10 Th stdee or tender is intended to be exclusive of any other remedy herein, in the
<br />Loan Instruments or by law provided 0aperriiitVt d, 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, Trustee. T.Na Trustee may resign at any time without cause. and Lender may at any time and without cause appoint a
<br />successor or substitute Trustee. Tiusleeshall not be liable to any party, incfuding without limitation Lender, Borrower, Trustor or any
<br />purchaser 0111118 Property, for any lose or damage unless due to reckless or willful m,sconduct, and shall not be required to take any
<br />action in connection with the er1101Cement of this Deed of Trust unless indemnified, in writing, for all costs,
<br />compensation or
<br />expenses which may be associated .herewith. In addition, Trustee may become a purchaser at any sale of the Property (judicial or
<br />under the power of sale granted heraih); postpone the sate
<br />of all or any portion of the Property, as provided by law. or sell the
<br />r'ri;,peitf sG a wltolit,,;rt in tlOwwiti psrosis or tors at TrugleWs discretion.
<br />14, Fey and EtperMM, in sfte etwil Trustee sells the Property by exercise of power of sate, Trustee shall be entitled to apply
<br />any axle procowis frfat tlp payrnenl,.yl,eiJ'costs and expenses of
<br />exercising power of safe. including all Trusted s fees, and Lender's
<br />and Trustee'sattorney'sfemi, aatuatty incurred to extent permitted by applicable law In the event Borrower or Trustor exercises any
<br />right provided by law W guru an Event of Default Lender shall be entitled to recover from Trustor all costs and expenses acbrally
<br />ineurred'as a resutt, of Ttuvo..t'ni d9fault including without limitation all Trustee • and fees,
<br />s attorney's to the extWit permitted by
<br />applicable law
<br />1S. Fullitre Advanaas. 1.10911 rtr4d6st of Borrower, Lender may, at its option, make additional and future advances and re- advancos tg borrower. Sut.hd'Jv,inces and readvanc6s. with interest thereon, Shall be secured t,v i1is Deed of Trust At
<br />t.mo
<br />=
<br />no shalt
<br />the principal arrountafthtr iri lebtodriess secured by this Deed of Trust, riot includallg 5e"ms advanced to protect the security of V115
<br />[Deed or Trust exceed tfr8 original principal amount stated tiereirr, or S 5,0"GZ.
<br />wNcnnve► la greater
<br />1
<br />W
<br />
|