|
- ._ _ . � �
<br /> f6. Covenartts of Trustor with Respect to Leasas. W�thput the prior wr;tten consent o1 Benef�a�ary, Trustar shall not,di�ectly er indiioctty,
<br /> � with respect to Ar�y lease o1 space in the Trust Property,or any portion thereol, whether such lease+s now or i�sreaftar in oxistence:
<br /> � (a) Accept or pa�mit any prepayment,discount or advan�o payment of rent hereundor in excess ol one month,
<br /> !� (b) Cancel or terminate the same,or accept any cancellation,termination or surrender thereot,or permii any evant to occur which would
<br /> � occa►thereunder to terminate or cancel ihe same,otl�er than termination for nonpayment ol rent.
<br /> � (c) A+nend or modify tho samo so as to reduce tire te�►»theraof,the�enia�payabla thereunder,or to changa any renewal p��visions
<br /> �" � thereln contained. . ..
<br /> � � (d) Waive any de�ault thereunde�or b�esch thereof,
<br /> � (e) Glve any cauent,waiver or approval thereunder o►take any other actlon in connecdon therewith,or with a/essee thereunder,whlch
<br /> � wautd have ths e//eCt ol lmpa/�ing the va/ue ol the tessor's inierest thereunder or the properfy subject therefo,or of�mpa�nng the
<br /> positlon w interest o/HeneBclary tAereln,or
<br /> (� Sell,asslgn,pledge,mortgaqe or otherwise disposs o1,or encumber its i�terest in any said lease or any renis,issues,profits issuing
<br /> , w ari&ing thereunder.
<br /> ' f7. 6Naivsr of SYatute ol Limitadorrs. Tlme is of the essence in al!o!Trustor's obl�gations and duties hereunder.and to the extent pe►mitted
<br /> � by faw, Trustor walves all present or future statutes ollimitations with respect to any debt,demand or obligation secured bereby and
<br /> • any aotlon ar prxeeding for the purpose of enforcing ihls Deed of Trust or any rights or remedlss contained hereln.
<br /> . 18. Asslgnmant of Deposits.In the event construction of Improvements is confemp/atec!by the loan evidenaed by the Note secured
<br /> ; hereby,as add'RJonal securiry therefore� Trustor hereby hartsfers and assigns to Bene/rcrary.afl righL btle and interesi to any and all
<br /> monles deposiied by a on behaH of Tivstor with any ciry,counry,pvblic body or agency,sanifary distrlct,utility company,and
<br /> � any other body a agency, for the inst8l18ti0n Or to secuie the instaJlation of any ulility by Trusiu�.�e��aJning to iha Trust Property.
<br /> � 19. 'Corporation or PaRne�shlp Existence.If Trustor is a caperetion,general paRnership,or llmited partnershlp,it will do all things
<br /> necessary to preserve its coiporete or partnership exlstence,as iho case may 6e,and ali iights and prlvifeges urader the laws o1 the
<br /> state of its incapora�an or organizatio».
<br /> : 20. Fabearance by Beneficlary Not a Waiver.Any forbearance by Beneficrary in exercisirag any right or remedy hereunder,or otherwJse
<br /> effaded by appllcab/e law,sha11 not be a waiver o!or precfude the exercise of any such rJght or remedy. 7he procurement of
<br /> lrtsurance a the payment o1 faxes or the dlscha�ge o!llens or charges by Beneficrary shali not be a waiver of Benerc�ary's right to
<br /> accelerate the metuRry of the Indebtedness. �
<br /> , 21. Remedles Cumuladve.Al!remedles provlded in thJs Deed of Trust are d.'stinct and c�cmufadve to any other right or remedy unde�thls
<br /> Deed of Tiust or affhrded by/aw or eq�iry,and may be e�srcised concwrently, �rtde�endently or succassively.
<br /> 22. Successas artd Assigns Bound;Jornt and Several UaDiliry;Captions. The covenanis and agreemenis herein contained shall bind,and
<br /> the righis hereunder shall Inure to, the respective successas and assigns of Beneficiary,Trustee,snd Tiusior.All covenanis and
<br /> • agreements oi Tiustor shall be Jolnt and several. The captions and headings of the paragraphs of this Oeed o!Tiust are for
<br /> convenlence on/y and are nof to be used to interpret or deNne the provislons hereot.
<br /> 23. Notice.Except for any not/ce required under applicable!aw to be given in another rsjannar, (a)any notice to 7rustor provided Jor!n thls
<br /> � Deed oi Trust shall be given by mailing such notiae by ceRified mar1,reture��eceipi reques[ed addressvd to Tiustor at its malling � .
<br /> � address set foRh above w at such other address as Trustor may desigra:�by notice io Beneficlary as provlded hereJn,and(b)any ;
<br /> noLice to Boneflciary or Trustee sha/i be given by ceRiTied marl,refum re�ipf requested,to BenefJciary's and Trustee's malling
<br /> • address stated herein o�to such other address as Beneflciary or Tiustee may designate 6y notice to Tiustor as provided hereln.My
<br /> ' notice provided tor in this Deed of Tiusi shap be deemed to have been given to Trusior,Beneficiary or Trustee when given in the ; F
<br /> - motrr�or�s„�?a ad::�t.'a. _. ---��
<br /> � 24. GovemTng Law;Severability. This Deed o1 Tiust shall be govemed by the laws of the State of Nebraska. ln the event any provlslon or :� =a =
<br /> ctause o/thls Oeed of Tiust canflicts with appllcable law,such conflict shall not aflecf oiher provisions of this Deed of Tiust whlch can . -
<br /> ' be given effect without the confiicting provlsfons and to this end the provisions of this Deed of Trust are declared to be severa6/e. _-
<br /> � 25. Events of Defautt Each of the followJng occurrences shalJ canstiiute an event o!defaulf haieunder,(heieinafter calied an"Event -
<br /> : or Detaun'):
<br /> � (a) Tiustor shall/ail to pay when due any princlpal,interesL or principat and interest on the Indebtedr►ess,
<br /> (b) My warranty of ptie made by Trustor herein shall be untrue, ��'_
<br /> (c) Tiustor shall fa�l to observe or pertorm any of the covenanis,agreerrrersis,or conditions in this Deed of Trust,
<br /> � (d) My representadan or waaanry made 6y Trustor on any 6e�ancial siafements or re�rorts submitted to Beneficlary by or on behaN of
<br /> t Trustor shall pr+ove/alse or mateiially misleading, �
<br /> (e) Trustor shall taii to perform or observe any of the covenants,conditions or agreements contained in,or btnding upon Tiusfor under
<br /> ; any buifding loan agreement,security agreement,foan agreement, �nancing siatemenL or any ofher agreemeni,instrument or . �
<br /> document exeCUted by Trustor in connection with the loan evidenced by the Note, ' ' '
<br /> (� A uustae,receiver or fiquidator of the Trust Propeny or of Trustor shall be appointed,or any of the creditors of Trustor sha/l�le a '
<br /> petitron in bankruptcy againsi Trustor,or tor the reorganizatlon o1 Trustor pu�suani to the Federaf Bankrupicy Code,or any similar _�;
<br /> law,wheihe►federa!or staTe,and it such order or petition shaJ!not be discharged or dism�ssed within thiity(30)days after the date
<br /> on which such arde►or petition was filed, �.���
<br /> • (g) Trustor shall frf�a petidon pu�suant to the Federal Baakruptcy Coa`e cr any similar law,fede�al or state,or i!Tiustor shal!be
<br /> adjudged a bankrupt,or be declared Insa/vent,or sha!!rr,ake an assig�menr fo►the benefit of c�editors,or shall admit in wiiting its
<br /> inabiliry to pay its debis as Lhey become due,or shal!consent to the appointmeet of a receiver of atl or any paR ol the Trust Prope�iy.
<br /> (h) �ira1 judgment for the payntenf of money sFra11 be re»dered againsi Trustor and Trustor sha/l not discharge the same,or ca�se it to
<br /> be disCharged,wifh/n thlRy(30)deys BfFer the entry the�eot,or sha�l not appea!therefro�»or fiom ihe order,decree or proCess upon
<br /> which o�pursuarr�to which said Judgmeni was granied,based,or entered,and secure a stay of execution pending such appeaJ,
<br /> (ij Tnrstor shaf!sefl ni convey the Trusi Property,or any part thereof,o�any interest therein,or shaH�e divested ol its tiUe,or any interest
<br /> therein,in any rrranner or way,whether voluntarily or involuntarity,without the written consent ol Beneficiary being frrst had and
<br /> obtafned,or
<br /> � (j) H Tiustor is a corpo�atian or partnershlp and more ihan fifry perceot(5G%)of ths sha�es or bene/icia!interests in such corporaUon or
<br /> partnership,as the case may be,shall be transfeaed or conveyed, whether voluniarily oi invo/untarily, without the written consent of
<br /> Beneficiary being tiist had and obfained.
<br /> 26. Acce/eratlon of Debf;Foreclpsure. Upon the occunence of any Event of Defeult,or any tinre thereafter, Beneficiary may,at!ts option,
<br /> declare all the Indebtedness secu�ed hereby immediately due and payab/e and the same shal!bear inte�est at the defauR rate,if any,
<br /> sef forth in the Note,or otherwlse at the hlghesf rate permiited by law,and,ineSpeClive of whether Beneficiary exercl5es said option,it _—__ -----
<br /> may,at its opUon artd ln its sole discretion,without any fuRher notice o�demand to or upon Trustor, do one or more of the following; �
<br /> (a) Bene6ciary may enter upon,take possesslon o!,manage and operate the Tiust PiopeRy or any part thereo(;make repairs and ,
<br /> alteraUons and do any acM which 13erteficiary deems proper to protect the security thereol,and either with or withouf isking �
<br /> possesslon.!n its own name,sue for or otherwlse collect and receive rents,issues snd profits,including those past due and unpaid.
<br /> ' and apply the same,fess casts and expenses o!operation and colJection,including reasonable attorney fees and Beneliciary's
<br /> cosis,upon the lndebtedness secu�ed hereby and rn such order as Bene�iciary may dete�mine. Upon request ol Beneficiary, Trustor
<br /> : . shall assembfe and shai!make avaiJab/e to Beneficiary any ol the Tiust Proparry which has been�emoved. The entering upon and
<br /> � taking possession ol the Trust P�operfy,the collectron o1 any rents, issues artd profits,snd the applicatron the�eof as aforesaid.shall
<br /> nof curo or waive any delault theretofore a thareafter occurring,or aNect any notrce of delault or notice o/sale hereunder or
<br /> inval�date any ac�t done pursuant to any such notice. Notwithstand�ng Beneficiary's continuence�n possesslon or rece�pt and
<br /> appUCahon ol rpnts,issuns or pralrts,BPnefic�ary shall be enbtlad to exerc�se every Nght provrdod for m th;s Deed ol Trust or by law �
<br /> upon oi after fho occurrence al an Event ot De/ault. inc�uding the nght to exerc+se the power ot salv Any o!the actions�e�errod to�n �
<br /> this paraqraph may bb taken by Beneficietyr at such t�me as Benelrciary may detorm�no wdhou►royard to the adeQuacy of ciny
<br /> socur�ty Ipr th�Indebtedrt�ss secured hereby. r. ..
<br /> Ib1 Bpne}rCrary shall, wiPhout rey8rd lo tho edoquacy Ol any SUCUnty lo►fho Indsbfodness seCUred harehy. b�onhNed to the
<br /> aPpoinlmenl af u rHCervor by F�ny Cvuri having�w�sU�Cbon, vi�Uiout noUr.e.Io t�kQ pc�sse�.s�o��nt Fsrot�ct and�t��inagc�Ihc Irusl
<br /> PIOpCIty tlnd�pC�F1tC thf�SFUn(t ilnd CWIUCt thH IQn►S,iSSU�S trnd prohts fherE�fipm
<br />-. 1!.! flL,l,nf,r��f�nr���,t..��.;:,.��t:!;tiC�tt r�i:111 f C Qtif'I(�l�urrapc,l�+•t1���ncrJ�r Imn In(nrpCln:��th�5/)u��r l�,l I r���t�,��•nr��r� ��,rr!y nl fh�•
<br /> . (/)VUf��illt�,�1CJ('O� �
<br />
|