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90---107081
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<br />Property Is so taken or damaged. Under shall have the option, in Its sole and absolute discretion, to apply all such Proceeds.
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<br />after deducting therefrom all costs and expenses Incurred by It in connection with such Proceeds, upon any indebtednen secured
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<br />hereby and In such order as Lender may determi ne, or to apply all such Proceeds, after such deductions, to the restoration of the
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<br />Property upon such conditions as Lender may determine. Any application of Proceeds to Indebtedness shall not extend or postpone
<br />default thereunder or hereunder. Any unapplied funds shall be paid to
<br />the due dais of any payments under the Note, or cure any
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<br />Trustor.
<br />a. PeMornnance by Lender. Upon the occurrence of an Event of Default hereunder, or it any act is taken or legal proceeding
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<br />commenced which materially affects Lender's interest In the Property. Lender may in Its own discretion, but without obligation to 0
<br />demand Truster and without releasing Trustor from any obligation, do any act which Truster has
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<br />so, and without notice to or upon
<br />agreed but fails to do and may also do any other act It deems necessary to protect the security hereof. Truster shall, immediately
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<br />upon demand therefor by lender, pay to Lender all coats and expenses Incurred and sums expended by Lender in connection with
<br />together with interest thereon at the default rate provided In the Note, which shall be
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<br />the exercise by Lender of the foregoing rights,
<br />added to the indebtedness secured hereby. Lender shall not incur any liability because of anything it may do or omit to do
<br />hereunder.
<br />9. Hazardous Materials. Trustor shall keep the Property In compliance wtth a" a,plieable laws. ordinances and regulations
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<br />relating to industrial hygiene or environmental protection (collectively retemed to haremn as "Environmental Laws) Truster shall
<br />keep the Property free from all substances deemed to be hazardous or toxtz under any l=our ranmental Laws (coltesttvely referred b
<br />"). Fenner 1,hdt lire are no Hazardous Materials on or
<br />herein as "Hazardous Materials Truster hereby warrants and represents to,
<br />under the Property. Truster hereby agrees to Indemnity and hold harmless Lender, its directors, otlicE•rs, employees and agents, and
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<br />successors to Lender's interest, from and against any and all claims damages, losses and liabilities arising in connection with
<br />Hazardous Materials on, under, from or about the Property. THE FOREGOING
<br />the presence. use, disposal or transport of any
<br />WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY. SHALL
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<br />SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br />10. Asat9mlient of Rents. Trustor hereby assigns to Lender the rents, issues and profits of the Property; provraatf toot Truster
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<br />shall, until the occurrence of an Event of Default hereunder, have the right to collect and retain such rents, issues and profits as they
<br />in or by agent, with or without
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<br />become due -and payable. Upon the occurrence of an Event of Default. Lender may, either person
<br />bringing any Acton or proceed) or a receiver appointed b a cou7t and without regard to the adequacy of Its security, enter
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<br />upon and take possession ,n1 the Property, or any part thereof, In its own name or in the name of the Trustee, and do any acts which
<br />the Property, or any part thereof or Interest therein,
<br />deems necessary or desirable to preserve the value, marketability or rentability of
<br />increase the income therefrom or protect the security hereof and, with or without taking possession of the Property, sue for or
<br />otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and apply the some, less costs and
<br />indebtedness secured hereby, all In such orderas Lender
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<br />expenses of pyeration and collection including attorneys' fees, upon any
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<br />may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits and the
<br />application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or Invalidate any act done In
<br />default and, notwithstanding the continuance In possession of the Property or
<br />response to such default or pursuant to such notice of
<br />lh t cullei:tlon. raceipt and application of rents. Issues cr pY291s, and Trustee sn(l Lender shall be entitled to exercise every right
<br />provided for i in any of the Loan Instruments or by law upon occurrence of any Event of Default, including without limitation the right
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<br />to exercise l"t power of sale. Further, Lender's rights and remedies under this paragraph shall be cumulative with, and in no way a
<br />leases and rents recorded against the Properly. Lender, Trustee
<br />limitation on, Lender's rights and remedies under any assignment of
<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 Deed of Trust
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<br />(a) Failure to pay any installment of principal or interest of any other sum secured hereby when due;
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<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
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<br />other hen or encumbrance upon the Property;
<br />(c) A writ of execution or attachment or any similar process shaft be entered against Trustor which shall become a Ilan on
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<br />the Property or any portion thereof or Interest therein;
<br />(d) There shall be filed by or against Truster or Borrower an action under any present or future federal, state or other
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<br />I e appointed an trustee,
<br />statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shat b pp Y
<br />any of the Property, or the rents. issues or profits thereof, or Trustor
<br />receiver or liquidator of Trustor or Borrower or of all or part
<br />or Borrower shall make any general assignment for the benefit of creditors;
<br />conveyance or further encumbrance of all or any part of or any Interest in the
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<br />(e) The sale, transfer, lease, assignment,
<br />Properv, /, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be
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<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
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<br />one year-,
<br />(f) Abandonment of the Property; or
<br />(g% II Trustor is not an Individual. the issuance. sale, transfer. assignment, conveyance or encumbrance of more than a total
<br />of n/ a percent of pf a corporation) its issued and outstanding stock or (d a partnership) a total of n/a percent of
<br />partnership interests during the period this Deed of Trust remains a lien on the Property.
<br />12. Remedies; Acceleration Upon Default, In the event of any Event of Default Lender may, without notice except as required by
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<br />law, declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable
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<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 Truatar's
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<br />interest in the Property to be sold and the proceeds to be di9lrleuled, all in the manner provided In the Nebraska Trust Deeds
<br />Act:
<br />(b) Exercise any and all rights provided for in any of the Loan Instruments or by law upon occurrence of any Event of
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<br />Default: and
<br />(c: Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any alit*
<br />coveran :s hereof.
<br />No remedy ir-etein conferred upon or reserved to Trustee or Lende• s intended tt t:e exclusi.,r o' any other remedy herein. Ir t ^e
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<br />Loan Instruments or by law provided or permitted. taut ellCt' 61.311 t-e c: m;1IaUrF shat, oe in acd 11= _. t:• every other remedy giver
<br />hereafrev,ex:st ng at law or in equit, ; r b•; statute, and may be exercised concurrently.
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<br />hereunder, in the Loan Instruments or now or
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<br />independently or successively.
<br />13 Trustee. The Trustee may resign at any urre w gout cause. and Lender may at any lime and withou: cause appoint a
<br />successor or substitute Trustee. Trustee shall not be I,able to any party. including without limitation Lender. Borrower, Truster or any
<br />of the Property, for any loss nr damage unless due to reckless or willful misconduct, and shall not be required to take any
<br />purchaser
<br />j action in connection with the enforcement of this Deed of Tr;rst unless indemnified, in writing• for all costs. comeensation or
<br />expenses which may be associated therewith to addition Trustee may become a purchaser at any save or the rroperiy tfudiurui ur
<br />herein). the sale of all or any portion of the Property. as provided by law, or sell the
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<br />under the power of sate granted postpone
<br />Property as a wrio:e. or in separate parcels or lor; at Trustee s discretion
<br />14 Fears and Expenses. In the event Trustee sells the Pfoverty by exercise of power of sale. Trustee snail be entitled to apply
<br />any sale proceeds first to payment of all costs and expenses of exercising power of sale. including an Trustees fees. and Lenders
<br />and Trustee's attorney's fees. actually incurred to extent permitted by applicable law In the evert Borrower w Trustor exerose , anv
<br />right provided by law to cure an Event of Default. Lender shall be entitled to recover from Trustor an costs ana expenses actually
<br />incurred as a result of Truster's default. including without limitation all Trustee s and attorney s 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 advancers and re-
<br />thereo=n. shall be secured by this Deed of Trust At no rime shall
<br />advancesto Borrower Such advances and readvances. with interest
<br />the principal amount of the indebtedness secured by this Deed of Trust. rot including sums advanced to protect the secur+N of this
<br />t Deed of Trust exceed the original principal amount stated herein or S _77 UUtt IAl whichever is greater'
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