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200400505
<br />upon such conditions as Lender may determine. Any application of Proceeds to indebtedness shall not extend or postpone the due
<br />date of any payments under the Note, or cure any default thereunder or hereunder. Any unapplied funds shall be paid to Trustor.
<br />8. Performance by Lender. Upon the occurrence of an Event of Default hereunder, or if any act is taken or legal proceeding
<br />commenced which materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation to do so,
<br />and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor has agreed
<br />but failed to do and may also do any other act it deems necessary to protect the security hereof. Trustor shall, immediately upon
<br />demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the
<br />exercise by Lender of the foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be added
<br />to the indebtedness secured hereby. Lender shall not incur any liability because of anything it may do or omit to do hereunder.
<br />9. Hazardous Materials. Trustor shall keep the Property in compliance with all applicable laws, ordinances and regulations
<br />relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws "). Trustor shall keep
<br />the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein as
<br />"Hazardous Materials "). Trustor hereby warrants and represents to Lender that there are no Hazardous Materials on or under the
<br />Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees and agents, and any
<br />successors to Lender's interest, from and against any and all claims, damages, losses and liabilities arising in connection with the
<br />presence, use, disposal or transport of any Hazardous Materials on, under, from or about the Property. THE FOREGOING
<br />WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY,
<br />SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br />10. Assignment of Rents. Trustor hereby assigns to Lender, and grants Lender a security interest in, and all present, future
<br />and after arising rents, issues and profits of the Property; provided that Trustor shall, until the occurrence of an Event of Default,
<br />hereunder, have the right to collect and retain such rents, issues and profits as they become due and payable. Upon the occurrence of
<br />an Event of Default, Lender may, either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br />appointed by a name or in the name of the Trustee, and do any acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentability of the Property, or any part thereof or interest therein, or to increase the income therefrom or protect the
<br />security hereof and, with or without taking possession of the Property, sue for or otherwise collect the rents, issues and profits thereof,
<br />including those past due and unpaid, by notifying tenants to make payments to Lender. Lender may apply rents, issues and profits,
<br />less costs and expenses of operation and collection including attorney's fees, to any indebtedness secured hereby, all in such order as
<br />Lender may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits, and
<br />the application thereof as aforesaid shall not cure or waive any default or notice of default hereunder or invalidate any act done in
<br />response to such thereof as aforesaid shall not cure or waive any default or notice of default hereunder or invalidate any act done in
<br />response to such default or pursuant to such notice of default and, notwithstanding the continuance in possession of the property or the
<br />collection, receipt and application of rents, issues or profits, Trustee and Lender shall be entitled to exercise every right provided for in
<br />any of the Loan Instruments or by law upon occurrence of any Event of Default, including without limitation the right to exercise the
<br />power of sale. Further, Lender's rights and remedies under this paragraph shall be cumulative with, and in no way a limitation on,
<br />Lender's rights and remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee and the
<br />receiver shall be liable to account only for those rents actually received.
<br />11. Events of Default. The following shall constitute and Event of Default under this Deed of Trust:
<br />(a) Failure to pay any installment of principal and interest or any other sum secured hereby when due;
<br />(b) A breach of or default under any provision contained in the Note, this Deed of Trust, any of the Loan Instruments, or
<br />any other lien or encumbrance upon the property;
<br />(c) A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a lien on
<br />the Property or any portion thereof or interest therein;
<br />(d) There shall be filed by or against Trustor or Borrower an action under any present or future federal, state or other
<br />statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shall be appointed any trustee,
<br />receiver or liquidator of Trustor or Borrower or of all or any part of the Property, or the rents, issues or profits thereof, or
<br />Trustor or Borrower shall make any general assignment for the benefit of- creditors;'
<br />(e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or any part of or any interest in the
<br />Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be
<br />permitted to execute a lease of the Property that does not contain an option to purchase and the term of which does not
<br />exceed one year;
<br />(f) Abandonment of the Property; or
<br />(g) If Trustor is not an individual, the issuance, sale, transfer, assignment, conveyance or encumbrance of more than (if a
<br />corporation) a total of percent of its issued and outstanding stock, or (if a partnership) a total of percent
<br />of partnership interests, or (if a limited liability company) a total of percent of the limited liability company interests or
<br />voting rights 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
<br />required by law, declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and
<br />payable 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 Trustor's
<br />interest in the Property to be sold and the proceeds to be distributed, 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
<br />Default; and
<br />(c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of
<br />the covenants hereof.
<br />No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein, in the Loan
<br />Instruments or by law provided or permitted, but each shall be cumulative, shall be in addition to every other remedy given hereunder,
<br />in the Loan Instruments or now or hereafter existing at law or in equity or by statute, and may be exercised concurrently, independently
<br />or successively.
<br />13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without cause appoint a
<br />successor or substitute Trustee. Trustee shall not be liable to any party, including without limitation Lender, Borrower, Trustor or any
<br />purchaser of the Property, for any loss or damage unless due to reckless or willful misconduct, and shall not be required to take any
<br />action in connection with the enforcement of this Deed of Trust unless indemnified, in writing, for all costs, compensation or expenses
<br />which may be associated therewith. In addition, Trustee may become a purchaser at any sale of the Property Qudicial or under the
<br />power of sale granted herein); postpone the sale of all or any portion of the Property, as provided by law; or sell the Property as a
<br />whole, or in separate parcels or lots at Trustee's discretion.
<br />14. Fees and Expenses. In the event Trustee sells the Property by exercise of power of sale, Trustee shall be entitled to
<br />apply any sale proceeds first to payment of all costs and expenses of exercising power of sale, including all Trustee's fees, and
<br />Lender's and Trustee's attorney's fees, actually incurred to extent permitted by applicable law. In the event Borrower or Trustor
<br />exercises any right provided by law to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs and expenses
<br />actually incurred as a result of Trustor'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 advances and
<br />readvances to Borrower. Such advances and readvances, with interest thereon, shall be secured by this Deed of Trust. At no time
<br />shall the principal amount of the indebtedness secured by this Deed of Trust, not including sums advanced to protect the security of this
<br />Deed of Trust, exceed the original principal amount stated herein, or $ 65,000.00 , whichever is greater.
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