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<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to
<br />the benefit of and binds all parties hereto, their heirs, legatees, devisees,
<br />personal representatives, successors and assigns. The term "Beneficiary"
<br />shall mean the owner and holder of the Note, whether or not named as
<br />Beneficiary herein.
<br />8. INSPECTIONS. Beneficiary, or its agents, representatives or
<br />workmen, are authorized to enter at any reasonable time upon or in any part of
<br />the Trustee Estate for the purpose of inspecting the same and for the purpose
<br />of performing any of the acts it is authorized to perform under the terms of
<br />any of the Loan Instruments.
<br />9. EVENTS OF DEFAULT. Any of the following events shall be deemed an
<br />event of default ereunder:
<br />(a) Trustor shall have failed to make payment of any installment of
<br />interest, principal, or principal and interest or any other sum secured hereby
<br />when due; or,
<br />(b) There has occurred a breach of default under any term, covenant,
<br />agreement, condition, provision, representation, or warranty contained in any
<br />of the Loan Instruments.
<br />10. ACCELERATION UPON DEFAULT ADDITIONAL REMEDIES. Should an event of
<br />default occur, Beneficiary may eclare a1 n e to ness secured hereby to be
<br />due and payable, and the same shall thereupon become due and payable without
<br />any presentment, demand, protest, or notice of any kind. Thereafter the
<br />Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action
<br />or proceeding, or by a receiver appointed by a court and without regard to thar
<br />adequacy of its security, enter upon and take possession of the Trust M;Ntatu,
<br />or any part thereof, in its own name or in the name of Trustee, and do :my
<br />acts which it deems necessary or desirable to preserve the value,
<br />rt!arKtlLCrl1111.Y Ur 1C11iGLJ111.y of the Trust a.otutc, vi knit uaoaoua vi a,. a.ca •+oa
<br />therein, increase the income therefrom or protect the security hereof, .Ind
<br />with or without taking possession of the Trust Estate, :rue for or othorwlt :v
<br />collect the rents, issues and profits thereof, including those past duo end
<br />unpaid, and apply the same, less costs and expenses of operation and
<br />collection, including attorney's fees, upon any indebtedness sec-urod hor<•eby,
<br />all in such order as Beneficiary may determine. The entorinq upon and takinq
<br />possession of the Trust Estate, the collection of such routs, iiswan anti
<br />profits and the application thereof as aforesaid, shall not cure or waive .my
<br />default or notice of default hereunder or invalidate any .►ct dono in rotiponso
<br />to such default or pursuant to such notice of default and, riotwitht:tand in,t Ill..
<br />continuance in possession of the Trust Estate or the collection, r•orotpt.and
<br />ijrptim NT
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<br />4. ACTIONS AFFECTING TRUST ESTATE. Truator shall appear in and contest
<br />a:..e
<br />any action or proceeding purporting to affect tho security hereof or the
<br />rights or powers of Beneficiary or Trustee, and shall pay all costa and
<br />*
<br />expenses, including cost of evidence of title and attorney's fees, in any such
<br />action or proceeding in which Beneficiary or Trustee may appear. Should
<br />Trustor fail to make any payment or to do any act as and in the manner
<br />provided in any of the Loan Instruments, Beneficiary and /or Trustee, each in
<br />'"'.'.•~
<br />its own discretion, without obligation, may make or do the same in such mannex
<br />deem to the security
<br />and to such extent as either may necessary protect
<br />hereof. Trustor shall, immediately upon demand therefor by Beneficiary, pay
<br />all costs and expenses incurred by Beneficiary in connection with the e3tercise
<br />1
<br />!�.:r? 4
<br />by Beneficiary of the foregoing rights, including, without limitation, costs
<br />of title, court costs, appraisals, surveys and attorneys fees.
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<br />of evidence
<br />Any such costs and expenses not paid within ten (10) days of w ritten demand
<br />+
<br />shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or
<br />'
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<br />interest therein, be t ten or damaged by reason of any public improvement or
<br />including deed in lieu of
<br />"'�,'�+t�s'`���•
<br />condemnation proceeding, or in any other manner
<br />Condemnation ( "Condemnation "), or should Trustor receive any notice or other
<br />Trustor shall written
<br />7
<br />information regarding such proceeding, give prompt
<br />be to all
<br />: }A,,;7•' -
<br />notice thereof to Beneficiary. Beneficiary shall entitled
<br />.:;1•:rrj-
<br />compensation awards and other payments or relief therefor, and shall be
<br />entitled to make any compromise or settlement in connection with such taking
<br />or damage. All such compensation, awards, damages, rights of action and
<br />to Trustor ( the "Proceeds ") are hereby assigned to
<br />proceeds awarded
<br />Trustor agrees to execute such further assignments of the
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<br />Beneficiary; and
<br />Proceeds as Beneficiary or Trustee may require.
<br />::; �• j°
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to
<br />xecute anW acknowledged by Beneficiary, mailed
<br />time, by a written -instrument executed--
<br />to Trustor eaird recorded in the County in which the Trust Estate is located and
<br />by otherwise complying with the provisions of the applicable law of the state
<br />of Nebraska substitute a successor or successors to the Trustee named herein
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<br />or acting hereunder.
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<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to
<br />the benefit of and binds all parties hereto, their heirs, legatees, devisees,
<br />personal representatives, successors and assigns. The term "Beneficiary"
<br />shall mean the owner and holder of the Note, whether or not named as
<br />Beneficiary herein.
<br />8. INSPECTIONS. Beneficiary, or its agents, representatives or
<br />workmen, are authorized to enter at any reasonable time upon or in any part of
<br />the Trustee Estate for the purpose of inspecting the same and for the purpose
<br />of performing any of the acts it is authorized to perform under the terms of
<br />any of the Loan Instruments.
<br />9. EVENTS OF DEFAULT. Any of the following events shall be deemed an
<br />event of default ereunder:
<br />(a) Trustor shall have failed to make payment of any installment of
<br />interest, principal, or principal and interest or any other sum secured hereby
<br />when due; or,
<br />(b) There has occurred a breach of default under any term, covenant,
<br />agreement, condition, provision, representation, or warranty contained in any
<br />of the Loan Instruments.
<br />10. ACCELERATION UPON DEFAULT ADDITIONAL REMEDIES. Should an event of
<br />default occur, Beneficiary may eclare a1 n e to ness secured hereby to be
<br />due and payable, and the same shall thereupon become due and payable without
<br />any presentment, demand, protest, or notice of any kind. Thereafter the
<br />Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action
<br />or proceeding, or by a receiver appointed by a court and without regard to thar
<br />adequacy of its security, enter upon and take possession of the Trust M;Ntatu,
<br />or any part thereof, in its own name or in the name of Trustee, and do :my
<br />acts which it deems necessary or desirable to preserve the value,
<br />rt!arKtlLCrl1111.Y Ur 1C11iGLJ111.y of the Trust a.otutc, vi knit uaoaoua vi a,. a.ca •+oa
<br />therein, increase the income therefrom or protect the security hereof, .Ind
<br />with or without taking possession of the Trust Estate, :rue for or othorwlt :v
<br />collect the rents, issues and profits thereof, including those past duo end
<br />unpaid, and apply the same, less costs and expenses of operation and
<br />collection, including attorney's fees, upon any indebtedness sec-urod hor<•eby,
<br />all in such order as Beneficiary may determine. The entorinq upon and takinq
<br />possession of the Trust Estate, the collection of such routs, iiswan anti
<br />profits and the application thereof as aforesaid, shall not cure or waive .my
<br />default or notice of default hereunder or invalidate any .►ct dono in rotiponso
<br />to such default or pursuant to such notice of default and, riotwitht:tand in,t Ill..
<br />continuance in possession of the Trust Estate or the collection, r•orotpt.and
<br />ijrptim NT
<br />;u 1. _...
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