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9Q 106967
<br />the Property Is so taken or damaged, Lender shall have the option, In its ale and absolute disoretion, to Appty ell such Proaseda,
<br />f`J:•:;: +; ± �'`'�' after deducting therefrom all costs and expenses Incurred by II In connection with such Proceeds, upon any indebtedness lowed
<br />heists and In such order as Lander may determine, or to apply All such Proceeds, after such daduallons, to the restoration of the
<br />Property upon y
<br />�,, ••,.,,•�(� t u such conditions as Lender may determine. An application of Proceeds ro Indebtedness shell not ettlsnd a postpone
<br />this due date of any payments under the Note, or cure any delaull thereunder or hereunder. Any unApplled funds shall be paid to
<br />Trwtor.
<br />S. Performance by Lender. Upon the occurrence of an Event of Default hereunder, or II any act is taken or legal proceeding _
<br />"" ` commenced which materially affects Lender's Interest In the Property. Lender may in its own dlscrellon, but without ObllgAliort to du
<br />a, and without notice to or demand upon Trustor and without releasing Truster from any obligation, do any not which Truster has
<br />� . �:• .t � .� r�;�;�,1,,1r�!�' � agreed but mails to do and may also do any other act It dooms necessary to protect the security hareem. Trustor shall, immediately
<br />upon demand therefor by Lender, pay to Lender all costs and expenses Incurred and sums expended by Lander to connection with
<br />the exercise by lender of the foregoing rights, together with Interest thereon et the default rate provided In the Note, which shall b"
<br />f:.::• c..t,
<br />_� � •� r`..•, l�kt, f ,(�• added to the indebtedness secured hereby. Lender shall not Incur any liability because of anything a may do or omit o o
<br />: hereunder.
<br />(1 '`it . 9. Ha=ardow AAeterlels. Trustor shall keep the Property in compliance with all applicable laws, ordinances and reguldlone
<br />` i't'; r 5 r
<br />- •- •�.s:, =?3°� .�;•; relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws "). Trustor shall
<br />t1b
<br />keep the Proparty free from all substances deemed to be harardpus or toxic under any Environmental Laws (collectively relorred to
<br />herein as "Hazardous Materials"). Trustor hereby warrants and represents 10 lends► them there are no Hazardous ployee Metena a on or
<br />t;
<br />under the Property. Trustor hereby agrees to Indamnlly and hold harmless Lender• its directors, officers, employees and
<br />agents, and — -
<br />li}� an successors to Lender's interest, from and against any and all claims. damages tosses And IiabllitWS eusirp in connection with
<br />the presence use, disposal or transport of any Hazardous Materials on. order, from or about the Property THE FOREGOING F <-
<br />r
<br />WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING IµpEM1WTY, SHALT.
<br />ECONVEYANCE OF THIS DEED OF TRUST.
<br />Ya:. SURVIVE R +
<br />:`
<br />10. Assignment of Rents. Trustor hereby assigns to Lender the rents, issues and profits of the Property: provided that Trustor
<br />tkt�%•., shall, unit) the occurrence of an Event of Default hereunder, have the right to collect and retain ouch rents, issues and profits as They > ,
<br />,:. -...;
<br />become die and payable. Upon the occurrence of an Event of Default, Lender may, either in person or by agent, with or without
<br />bi 4'
<br />bringing am action or proceeding. ar 5y a receiver appointed by a court and without regard to the adequacy of its security, enter �-
<br />�,1 : +' g g f g,
<br />f�,., •, rte} upon and take possession of the Prop erti. or any part thereof, In Its own name or in the name ct the Trustee, and do any acts which II
<br />?'j•:, ; „
<br />dooms necessary or desi rable to preaen a the value, marketability or rentability of the Property. or any part thereof or interest therein, :a«,..�.• —ate
<br />fix! Increase the Income therelrom or protect the security hareem and, with or without making possession of the Property. sue for or
<br />otherwise collect lhv rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs 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 o1 the Property, the collection Of such rents. issues wind profits and the
<br />application thereof as aforesaid, shall not cure or waive any aelault or notice of default hereunder or invalidate any act done in �7
<br />-
<br />response to such default or pursuant to such notice of default and, notwithstandfngihe continuance m possession of the Property or j �x
<br />the collection, receipt and application of rents. issuee nr profits. and Trustee and Lender shall be entitled to exercise every' right R% -
<br />{ provided for In any of the loan Instruments or by law upon occurrence of any Event of Default, including witt•out limitation the right >z
<br />tsrr,;
<br />to exorcise the power o1 sale. Further, Lender's rights and remedies under this paragraph shall be cumulative with, end in no way ati,,
<br />limltation 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 account only for those rents actually received.
<br />11. Events of Default. The following shall constitute an Event of Default under this Dead of Trust :• i- ° :.
<br />(a) Failure to nay any Installment of principal or interest of any other sum secured hereby when due; (l r
<br />.y u..
<br />(b) A breach of or default under any provision contained in the Note, thIa Dead of trust, any of the Loan I nstrumonis, 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 anaIt become a lien on the Property or any portion thereof or interest therein; _
<br />under any present or future federal, state or other
<br />(d) There shall be filed by or against Trustor or Borrower an action r'•r . r
<br />statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors. or there shell be appointed any trustee,
<br />receiver or Ilquidato• of Trustor or Borrower or of all or any part of the Property, or the rents, issues or profits thereof, or Truster_ _
<br />or Borrower shall make any general assignment for the benefit of creditors: y pan o1 or any Interest in the
<br />(e) The sale, transfer. lease, assignment, conveyance or further encumbrance of all or an �*
<br />Property, either voluntarily or involuntarily, without the express written consent of Lender: provided that Trustor shall be
<br />permitt_d 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 />(q Abandonment of the Property; or
<br />(g) If Trustor is not an Individual, the Issuance, sate, transfer, assignment, conveyance or encumbrance at more than a total
<br />of- . percent of (if a corporation) its issued and outstanding stock or lit a partnership( a total of _ percent of
<br />partnership Interests during the period this Deed of Trust remains a lien on the Property. 1.
<br />12. Remedies; Acceleration Upon Default. In the event of any Event of Default Lender may, without notice except as required by
<br />r law, declare all indebtedness secured hereby to be due and payable and the some shall thereupon become due and payable
<br />without any presentment, demand, protest or notice of any kind. Thereafter Lender may.
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause Trustor's i.
<br />interest in the Property to be sold and the proceeds to be distributed, all in the manner provided In the Nebraska Trust Deeds i
<br />Act;
<br />(b) Exercise any and all rignts provided for in any of the Loan Instruments or by law upon occurrence of any Event of
<br />Default: and
<br />(c) Commence an action to foreclose this Dead 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 it any other remedy herein. in the
<br />Loan Instruments or by law provided or permitted, but each shall be cumulative. shall be -n 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. ar.d may be exercised concurrently
<br />independently or successively. appoint a i
<br />13. Trustee. The Trustee may resign at any time with cause, and Lender may li any time and without cause lot o
<br />successor or substitute Trustee. Trustee shall nct be liable to any party, inclutltrg without limitation Lender. )3grrowar, irt191pr 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 />expenses which may be associated therewtm In 8ddill0n, Trustee may orsouu,ei n yuii iaaoT :,t 8 7� -• •••- • - ►-
<br />under the power of sale granted herein). postpone the sale of all or any portion of the Property. as provided by taw, or sell the
<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 Properly by exercise of power of sale, Trustee shell be entitled to apply
<br />any sale proceeds f st to payment of all costs and expenses of exercising power of sale. including ail Trustee's fees, and Lender's
<br />and Trustee's attorney a fees, actually incurred 10 extent permitted by applicable law to 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 alt costa and expenses actually
<br />incurred as a result of Trusters default, Including without limitation all Trustees and attorneys fees, to the extent permitted by
<br />applicable law.
<br />15. Future 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 be secured by this Deed of Trust At no time shall
<br />the principal amount of the indebtedness secured by this Deed of Trust, i7o1 m�0 UU L 0 mgsums advanced to protect the security of this
<br />Deed of Trust exceed the original principal amount stated herein, or $ , _ , whichever is greater
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