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AA'r • 1M- t i i KL R -riC•' .lit t A yr,!!.- � •tr "l�fG•2'. 4` fir•. ,..:r • I 1 i r� '•W}' ,1�'irr- A ♦ill. .. ..., 90- -10709 5 the Property is so taken or damaged, Lander shall have the option, In its sole and absolute discretion, to apply all such Proceeds, after deducting therefrom all costs and expenses Incurred by It in connection with such Proceeds, upon any Indebtedness secured hereby and In such order as Lender may determine, or to apply all such Proceeds, after such deductions, to the restoration of the Property upon such conditions as Lender may determine. Any application of Proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or curs any default thereunder or hereunder. Any unapplied funds shall be paid to Trustor. a. Performance by Lender. Upon the occurrence of an Event of Default hereunder, or if any act is taken or !egal proceeding commenced which materially affects Lender's interest In the Property, Lender may In its own discretion, but without obligation to do so, and without notice to or demand upon Truster and without releasing Trustor from any obligation, do any act which Trustor has agreed but fells to do and may also do any other act it deems necessary to protect the security hereof. Trustor shall, Immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by Lender of the foregoing rights, together with Interest thereon at the default rate provided in the Note, which shall be added to the Indebtedness secured hereby. Lender shall not incur any liability because of anything It may do or omil to do hereunder. 9. Hazardous Materials. Trustor shall keep the Property In compliance with all applicable laws, ordinances and regulations relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental taws "). Trustor shall keep the Property free from ail substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein as "Hazardous Materials "). Trustor hereby warrants and represents to Lenders that there are no Hazardous Materials on or under the Property. Trustor hereby agrees to indemnity and hold harmless Lender, is aliectors. officers, employees and agents, and any successors to Lender's interest, from and against any and all claims. damages, losses and liabilities arising in connection with the presence, use, disposal or transport of any Hazardous Materals on, under, from or about the Property. THE FOREGOING WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS, PURSUANT TO THF_ FOREGOING INDEMNITY. SHALL SURVIVE AEC ONVEYANCE OF THIS DEED OF TRUST. 10. Assignment of Rents. Trustor hereby assigns to Lender the rents, issues and profits of the Property; provided that Trustor shall, until the occurrence of an Event of Default hereunder, have the right to collect and retain such rents. Issues and profits as they become due and payable. Upon the occurrence of an Event of Default. Lender may, either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and wanout regal.' to Me adequacy of its security, enter upon and take possession of the Property, or any part thereof, in Its own name or In the name c` the Trustee, and do any acts which It deems necessary or desirable to preserve the value, marketability or rentability of the Property, or any part thereof or interest therein, increase the Income thr, rTBIMm or protect the security hereof and, with or without taking possession of the Property, sue for or otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection including attorneys' fees. upon any Indebtedness secured hereby, all In such order as Lender may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or Invalidate any act one in response to such default or pursuant to such notice of default and, notwithstanding the continuance in possession of the Property or the collection, receipt and application of rents, issues or profits, and r rustee and Lender aiI'iit be entitled to exercise et£r`; right provided for in any of IFe Loan Instruments or by law upon occurrence of any E ±•e^. of Default, including with ;tit limitation the right to exorcise the power of sale. Further, Lender's rights and remedies under this Fara:l *aph shall be cumulative with. and In no way a limitation on, Lender's rights and remedies under any assignment of leases and rents recorded against the Property. Lender. Trustee and the receiver shall be liable to account only for those rents actually received. 11. Events of Default. The following shalt constitute an Event of Default under this Deeu of Trust (a) Failure to pay any installment of principal or Interest of any other sum secured hereby when due; (b) A breach al or default under any provision contained in the Note, this Deed of Trust, any of the Loan Instruments, or any other lien or encumnrance upon the Property; (c) A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a lien on the Property or any portion thereof or Interest therein; (d) There shall be filed by or against Trustor or Borrower an action under any present or future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or ether relief for debtors; or there shall be appointed any trustee, receiver or liquidator of Trustor or Borrower or of all or any part of the Proner!v, or the rents, Issues or profits thereof. or Trustor or Borrower shall make any general assignment for the benefit of creditors; (e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or any part of or any interest in the Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be permitted to execute a lease of the Property that does not contain an option to purchase and the term of which does not exceed one year (f) Abandonment of the Property; or (g) If Trustor Is not an individual, the Issuance. sale, transfer, assignment. conveyance or encumbrance of morethan a total of percent of (if a corporation) Its Issued and outstanding stock or fit a partnership) a total of _ percent of partnership interests during the period this Deed of Trust remains a lien on the Property. 12. Remedies; Acceleration Upon Default In the event of any Event of Default Lender may. without notice except as required by law. declare all Indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable without any presentment:, demand, protest or notice of any kind. Thereafter Lender may. (a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause lrustor's interest in the Property to be sold and the proceeds to be distributed, all in the manner provided in the Nebraska Trust Deeds Act (b) Exercise any and all ' ghis provided for in any of the Loan Instruments or by law upon occurrence of any Event of Default; and (c) Commerce an action to foreclose this Deed of Trust as a mortgage. amomt a receil er, or specirically enforce any of the covenants hereon. No remedy herein Conferred upon or reserved to %s:ee or Lender Is inter. t: De exclusive of any other remedy herein, in the Loan Instruments or by law provided or permitted. tut each sl a -E. curr.ulavve. snap be in addition to every other reined; given hereurder. in the Loan Instruments or now or hereafter existing it: U,•. o• in equity er by stat:,:e. and may be exercised ccncarently. independently or successively. 13 Trustee. The Tr;lstee may resign at any 1-me +vitrioul cause. and Londe, may at any time and without cause appoint a successor or substitute Trustee. Trustee shall not be liable to any parry, including without limitation Lender. Borrower. Trusto'cr any purctiaser of t?-.e Property. lorany loss or damage unless, doe to reckless or willful rtt,sro -oict. and shall not be requifedic take any n__.. C! r....... ,. je!r ",f,e,i .'• r• rang for all costs. cornrensalian or BCtIC� i^ COnneClrpn wltn ins Ccrv'�..crii6fli Gt ti.a I+cc.. ,.• �•..,.• ..•••..... •• °_.. .__ expenses w''Icn may be associated t'•erewrth. In addition. Trustee Tray tecome a pure ~aser a', any sale of the Property q -1cral or under In a power o' save granted herein); postpone the sate o' a' or any sett be of the Property, as provided by law. ar sell the Property as a whole. c• in separate parcels or lots at Trustee s d,scret or 14- Fos and Expenses. In the event Trustee sells the Property by eiuelt se of power of sale, Trustee shall be entitled to apply any sale picceeds, first to payment of all costs and expenses of exercising) rawer of sale. including all Trustees fees, and Lender's and Trustees an6rney s fees. actually incurred to extent perrr'Red tv acw.cable law in the event Borrower or Trustor exercises any right provided by taw to cure an Event of Default. Lender shall to enr,r,ed to recover from Trustor all costs and expenses actually incurred as a result of Trustor's default. Including without hm-tat,on all Trustee s and attorney s fees. to the extent per miffed by applicable law 15. FuM ee Advances. Upon request of Borrower. Lender may, at its option. make additional and future advances and re- advances to Borrower. Sucn advances and readvances. with interest thereon. shall be secured by this Deed of Trust At no time shall the principal amount of the indebtedness secured by this Deed of Trust. not Including sums advanced to protect the security of this Deed of Trust, exceed the original principal amount stated herein, or $ 1] - 02L _ whichever is greater I , AII - IrM th �, i., w +�iwlw� 4 1�• -Lit,. I 1�.