|
- � �
<br /> 16. Covenants o/Tiustor with Respect to Leasos. Withou�the prior►vrrtton consont of Benaliciary, T�usto�shall not,directiy or indirectly,
<br /> with respect to any lease ol space in the Trust Properry, o,any portion thereol,whether suah leaso is now ar hareafter rn existence:
<br /> � (a) Accept or pa�mit any prepayment, discount or advance p�ymonl ol rent he�eunder in excess of one month,
<br /> (b) Cancel or ferminate the 5ame, or accept any canco�lat/on,termination or sunender thereo%or permit any event to occur which woufd
<br /> !�I occur thereunde�fo te�minate or cancel the same, ather than terminatian fo�nonpayment of rent,
<br /> � (cJ Amend or modily Phe sams so as fa reduce the te�m thorooJ, the renta!payable thereunder,or to change any renvwai provlslons
<br /> � � th9rein containeti,
<br /> O (d) Weiva any defauh thereunder or breach thereoi,
<br /> t�l (e) Give any consent, walver or approval thereunder o�taka any oiher action in connectlon therewieh,or with�►essee thereurtder, whlch
<br /> f'' wouJd have the effect of impalring the value o1 the lessor's lnferest thereunder o�the prope�ty subject thereto,or o1lmpairrng the
<br /> position or inierest of Beneliclary there/n,a
<br /> � (l) Sell,assJgn,p/edge,mongage o�orl,erwise dispose ol,or encumber its intarest!n any said/essa a any rents,lssues,profits lssuing
<br /> or aNsing thereunder.
<br /> 17. Waiver ol Statute of Llmitatlons. Time!s o1 the essence!n aIl of Tiusior's obligatlons and duties hereunder,•and to the extent permltted
<br /> . by/aw, Tiustor waives a/l present or future statafes of/imital/ons with respect to any debt,demand or obligatlon secured hereby and
<br /> any ection or praceeding for the purpose ol enforcing this Deed of Tiust o�any rights or remedies confained herein.
<br /> , 18. Asslgnment of Oepo�its.In the event construction of impravemenis is contempfated by the/oan evide�rced by the Noie secured
<br /> hereby.as add�ional security the�etore, Tiustor hereby tianslers and essigns to Beneficiary,a/l right,Utle and lnterest to any and all
<br /> monies deposited by or on behal/of Tiustor with any ciry.counry,public body or agency,sanitary dlshlcL utility company,and
<br /> any other body or agertcy,for the lnstaNation or to secure the lnstaliation of any utiliry by Tiustor,penaining to the Tiust Properry.
<br /> 19. Corporatlon or PaRnership ExJstence. If Trustor is a capo�atlon,general part�ership,or limited partnership,it will do a!!thing5
<br /> , necessary to preserve its corporate or parinershlp exisience,as the case may be,and a!I�ighis and privileges under the laws of the
<br /> ; state o1 its incorpaatlon or organizaUon.
<br /> � 20. Foibearance by BeneTiciary Nof a Waiver.My forbearance by Beneticrary in exercising any right or remedy he�eunder,or ofhenvise
<br /> i afforded by applicab/e law,shali nod be a waiver o1 or preclude the exercfse of any such Nght or remedy. The prxurement a1
<br /> Insu�ance or the payment of taxes or the discharge o/liens o�charges by Beneliclary shall not be a waiver o1 Bene�iclary's right to
<br /> � accelerate the maturity of the lndebiedness.
<br /> , 21. Remedles Cumufative.A/l remedies provided in this Deed of Tiust are distinci and cumulafive to any othe�right or remedy under thls
<br /> Deed of Tiusf or alforded by law o�equiry,and may be exercised concurrenUy,independentty or successively.
<br /> 22. Successors and Asslgns Bound;Jolnt and Severa/liabifiry;Capdons. The covenants and agreements herein contained shall bind,and
<br /> , the Nghts hereunder shall lnu�e to,the respeciive successors and assigns of Benefrciary, Trusfee,and Trustor.All covenanfs and
<br /> � agreements of Trustor shall be joint and several. The captions and headings o1 the paragraphs of thls Deed o1 Trust are for
<br /> convenience onty snd are naf to be used to Interp�et or de�ne the provisions hereol.
<br /> • 23. Nodce.Except for any notice required under applicab/e Jaw to be given in another manner,(a)any notice to Tiustor provided for in this
<br /> . . Deed of Tiusf shal!be given by malling such notice by ce►tilied mail,retum receipt requested addressed to Trustor at its mailing
<br /> address set Iorth above or at such other address as Tiusior may designate by noUce to 8eneficiary as p�ovlded herein,and(b)any � �
<br /> � notice!o Beneficiary or Tiustee shal!be given by ceRifisd mail,refurn receipt requesied,to Benerciary's and Tiustee's mailing
<br /> address stated herein or fo such othe�add�ess as Beneficiary or Tiusfee may designafe by notrce io Trustor as piovided herein.Any
<br /> nodce pr+nvided for irt ih/s Deed of Tiust shall be deemed to have been given to Trustor,Beneficiary a Trustee when given irr the i '�,�
<br /> .. 1 fI1B/►f1BIdACiv(fatp�►hcrQj�. - -
<br /> � 24. Goveming Law;Severablliry. This Deed ol Tiust sha/l be governed by the laws of the State of Nebraska. In the event any provision or .
<br /> , clause ol this Deed of Tiust conflicts wi�h appticable/aw,such con/lict shal!not af/eci othe�provisions of this Oeed of Tius!which can
<br /> be given elfect without the conflicting p�ovisions and to this end the provisions of thls Deed o/Tiusi are declared to be severabfe. -
<br /> ; 25. Events of Oefauit Each of the following oecunences shaq constitute an event of default heieunder,(heieinafter caped an"Event -
<br /> , of De/au1P): -
<br /> � (a) Trustor sha/l fail to p8y when due any principal,interest,or principal and interesf on the Indebfedness, ';:
<br /> (b) My warranry of title made by Tiusfor herein sha/J be unirue, :�
<br /> (c) Tiusto�shal!lai!to observe or pedorm any of ihe covenants,agreements,or conditions in this Deed of Trust,
<br />. (d) My iepresenta6on o�wanenty made by Tiustor on any financial statements or reports submitted to 8eneficiary by oi on beltall oi
<br /> . Trustor shaii prove ialse or mafsrialiy misleading,
<br /> (e) Tiusfor shal!fail to perlorm or observe any of the covenanis,conditions or agreements contained in,or binding upon Trusfo�under �
<br /> . any building loan ag�eement,security agreemenf,loan agreemeni,financing statement,o�any oiher agreement,insirument or F "
<br /> dxument execufed by Trustor In connection with the loan evidenced by the Note,
<br /> ; (� A uustee,receiver or llquldator of the Trusf Property or of Trusior shall be appointed,or any of the crediio�s of Tiustor sha!!frJe a
<br /> pebtion in bankruptcy against Tiustor,or!or the reorganizatio►r of Trusior pursuant to the Federal8ankruptcy Code,or any s%enilar ��}
<br /> law,whether federal or stata,and if such order or petition shall not be discharged or dismissed within thirty(30)days afte�the date ��.�
<br /> - on whlch such order or petition was tiled,
<br /> , (g) Trusfor shal!fi/e a petiSOn pursuant to the Federal Bairkrupfcy Code or any simila�law,federa/or state,or if Trusia shali be
<br /> adjudged a bankrupt,or be deciared insolvent,or shall make an asslgnment for the benefii of creditors,a sha/l admit in writing its '
<br /> , inabil'r[y io pay its debts as they become due,or shall conseni fo the appointment of a receive�of al!a any part of the Tiust Property,
<br /> (h) Final judgment for the payment of money shall be rende�ed against Trustor and Trusfor shall not discha�ge the ssme,or cause it to
<br /> • be dlscharged, within thiRy(30)days aRer the entry the�eof,or sha!/not appeal therefiom or fiom the order,decree oi process upon
<br /> whTch or puisuant fo whlch said judgment was granted,based,or entered,and secure a stay of execution pending such appeal,
<br /> Q (i) Tiustar shaJ!sell or Convey the Trust Property,or any pan the�eaf,or any interesf therein,or shal!be divested of its tlt/e,or any interesi
<br /> � thereln,in any manner or way, whether voluniarily or invo/untarily,wiihout the wriiten consent of Benefic/ary being first had and
<br /> obtained,or
<br /> � : (j) !f Tiustor ls a corporation or partne�ship and more thsn fifty percent(50°io)of the shaies or beneficial interests/n such corporation or
<br /> partnershlp,as the case may be,shal!be hansferred or conveyed,whether voluntarily or invo/untarily, without the w�rtten consenf of
<br /> Benefic/ary be�ng firs!had and obtalned.
<br /> 26. Acceleiation of Debt;Foreciosure. Upon the occuirence of any Evenf of Oefault,or any time thereaRe�,Beneficiary may,at its option,
<br /> dec/are a!/the Indebiedness secured hereby Immediate/y due artd payable and the same shall bear interest at the default rate,if any, '
<br /> set foRh!n the Note,o�oihenvise at the hlghest rate peimittad by/aw, and, i�respective of whethe�Benefrciary exercises sald option,it ' T
<br /> may,af its opUon and in its sole discrefion,without any turther notice or demand to or upon Tiusto�,do one or more ol the following; �
<br /> (a) Benellciary may enter upon, tako possession of,manage and operate the Trust Propeity or any part thereof,•meke repairs and �
<br /> a/tereUons and do any acis which Benelic/ary deems prope�to protect the securiry thereof,and eithe�with or without taking
<br /> possesslon,in its own narne,sue for or otherwise co!/ect and receive rents,issues and profits,incb�ding those past due end unpaid, !
<br /> and appty the same,less costs and expenses of operafion and collection,including reasonab/e anorney fees and Beneliciary's
<br /> costs,upon the lndebtedness secured bereby and in such o�der as Benefkiary may dete�mine. Upon requast of Beneficisry, Trustor :�
<br /> sha11 assemble 8nd shall make availab/e to Beneficlary any o!the Tiust Properfy whlch has been removed. The entering upon end
<br /> I taking possesslon of the Tiust Propeity,the co0ection of any rents,issues and profits, and the application thereof as aloresaid,shall
<br /> nof cure or waive any delault therefo%re or thereafter occurrrng,or aflect any notice of deiault or notJce o1 sale hereunder or
<br /> Invalidafe any act done ptrrsuant to any such notice.Nofwithsianding Beneficiary's continuance�n possession or receipt and �
<br /> epplication o1 rents,issues or proiits, Beneficiary shap be entitlad to exercise every nght provlded for in th�s Deed of Trusf or by/aw ��
<br /> upon o�a/te�the occur�ence of an Event of Defeult,rncluding!he aght to exeiciso Uie pvwer o/sale. Any o�the 2ct�ons relerrod to m
<br /> fhis paragraph may be taken by Benelrciary at such hme as Benel�ciary may deterrn�ne w�thout reydrn to tno edeyuacy o!any `� ��
<br /> securiry lor the Indebtedness secured hereby. h. �
<br />' (bJ deneliCiary shall, without iega�tl to Ihe adequdcy o(any SBCu�dy lor the Indpbledness seru�ed hereby. Utr ent�lled fn the
<br /> appvmtment o1 a�ece+var by any court hovmg�urrsdretron, without nobco, ro fake possessron n1 ��rotec-t. an�i mHn��qe the Tn.s!
<br /> Proporty�nd operete lhe same and Colloct 1he�ents.�ssuos ancP prohts ther�l�an
<br /> (�) BpnAiiC»ry itic7y nnny t+ny act�On�n t�ny court O/compotonf�unsd�r.hun tn lurr,r.lnsFi flris (m��i rl 1ri��.t nr t�ninr���,�n�„t r�•�• �
<br /> covennrrts ha�col
<br />
|