;��;
<br /> �9- sc�4oao
<br /> of injury to persons or damage to property occurring on the property. The coverage
<br /> shall be in an amount of not leas than $500,000 single limit for bodily injury and
<br /> property damage.
<br /> 4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any
<br /> action or proceeding purporting to affect the security hereof or the rights or powers
<br /> of Beneficiary or Trustee, and ahall pay all costs ana expensea, including cost of
<br /> evidence of title and attorney's fees, in any such action or proceeding in which
<br /> Beneficiary or Trustee may appear. Should Truator fail to make any payment or to do
<br /> any act as and in the manner provided in any of the Loan Instrumente, Beneficiary
<br /> and/or Trustee, each in its own diacretion, without obligation, may make or do the
<br /> same in such manner and to such extent as either may deem necessary to protect the
<br /> security hereof. Trustor ahall, immediately upon demand therefor by Beneficiary, pay
<br /> all costa and expenses incurred by Beneficiary in connection with the exercise by
<br /> Beneficiary of the foregoinq rights, including, without limitation, costs of evidence
<br /> of title, court custs, appraisals, surveys acnd attorney's feea. Any such costs and
<br /> expenaea not paid within ten (10) days of written demand shall draw intereat at the
<br /> default rate provided in the Note.
<br /> 5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest
<br /> therein, be taken or damaged by reaaon of any public improvement or condemnation
<br /> proceeding, or in any other manner including deed in lieu of Condemnation
<br /> ("Condemnation") , or should Trustor receive any notice or other information regarding
<br /> such proceeding, Trustor ahall give prompt written notice thereof to Beneficiary.
<br /> Beneficiary shall be entitled to all compensation and condemnation awards and other
<br /> payments or relief therefor, up to the unpaid balance and accrued interest of the
<br /> Promissory Note, and shall be entitled to make any compromise or settlement in
<br /> connection with such taking or damage. All such compensation and condemnation,
<br /> awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds")
<br /> are hereby assigned to Beneficiary; and Trustor agrees to execute such further
<br /> asaignments of the Proceeds as Beneficiary or Trustee may require.
<br /> 6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by
<br /> a written instrument executed and acknowledged by Beneficiary, mailed to Trustor and
<br /> recorded in the County in which the Trust Estate is located and by otherwiae
<br /> complying with the provisions of the applicable law of the State of Nebraska
<br /> substitute a successor or successors to the Trustee named herein or acting hereunder.
<br /> 7. SUCCESSORS AND ASSIGNS. Thia Deed of Truat appliea to, inures to the
<br /> benefit of and binds all parties hereto, their heira, legatees, devisees, personal
<br /> representatives, succesaors and assigns. The term "Beneficiary" shall mean the owner
<br /> and holder of the Note, whether or not named as Beneficiary herein.
<br /> 8. INSPECTIONS. Beneficiar;, or her agents, r�pr�sentatives or workmen, are
<br /> authorized to enter at any reasonable time upon or in any part of the Trust Eatate
<br /> for the purpose of inspecting the same and for the purpose of performing any of the
<br /> acts it is authorized to perform under the terma of any of the Loan Inetruments.
<br /> 9. EVENTS OF DEFAULT. Any of the following events shall be deemed an event
<br /> of default hereunder:
<br /> (a) Trustor shall have failed to make payment of any installment of interest,
<br /> principal, or principal and interest or any other sum secured hereby when due; or,
<br /> (b) There has occurred a breach or default under any term, covenant,
<br /> agreement, condition, provision, representation, or warranty contained in any of the
<br /> Loan Instruments.
<br /> 10. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should an event of default
<br /> occur, Beneficiary may declare all indebtedness secured hereby to be due and payable,
<br /> and the same shall thereupon become due and payable without any presentment, demand,
<br /> protest, or notice of any kind. Thereafter the Beneficiary may:
<br /> (a) Either in person or by agent, with or without bringing any action or
<br /> proceeding, or by a receiver appointed by a Court and without regard to the adequacy
<br /> of its security, enter upon and take posseasion of the Trust Estate, or any part
<br /> thereof, in her own name or in the name of Trustee, and do any acts which ehe deems
<br /> necessary or desirable to preserve the value, marketability or rentability of the
<br /> Trust Estate, or part thereof or interest therein, increase the income therefrom or
<br /> protect the security herFOf, and with or �ithout taking possession of the Trust
<br /> Estate, aue for or otherwiae collect the rents, issues and profits thereof, including
<br /> those past due and unpaid, and apply the same, leas costs and expenses of operation
<br /> and collection, including attorney's feea, upon any indebtednesa secured hereby, all
<br /> in such order as Beneficiary may determine. The entering upon and taking possession
<br /> of the Trust Eetate, the collection of such rents, issues and profits and the
<br /> application thereof as aforesaid, shall not cure or waive any default or notice of
<br /> default hereunder or invalidate any act done in response to such default or pursuant
<br /> to such notice of default and, notwithstanding the continuance in possession of the
<br /> Trust Estate or the collection, receipt and application of rents, issues or profits,
<br /> Trustee or Beneficiary shall be entitled to exercise every right provided for in any
<br /> of the Loan Instruments or by law upon occurrence of any event of default, including
<br /> the right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint
<br /> a receiver, or specifically enforce any of the covenants hereof;
<br />
|