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202406659
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Last modified
12/30/2024 4:10:30 PM
Creation date
12/30/2024 4:10:29 PM
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DEEDS
Inst Number
202406659
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202406659 <br />or the Obligations secured hereby, before delinquency, without notice or demand, and shall <br />provide evidence of the payment of same. <br />5. Liens. Trustor shall not create, incur or suffer to exist any lien, encumbrance or <br />charge on the Property or any part thereof which might or could be held to be superior or inferior <br />to the lien of this Deed of Trust, other than current non -delinquent real estate taxes and <br />assessments, the current lien of NebraskaLand Bank and future liens for construction, tax <br />increment and permanent financing of the Project (the "Senior Liens"). Upon request from <br />Trustor, Beneficiary will subordinate to the Senior Liens. Trustor shall pay, when due: (i) all <br />amounts due in connection with the Senior Liens, (ii) the claims of all persons supplying labor or <br />materials to or in connection with the Property, and (iii) the claims of registered or certified <br />surveyors or engineers, or licensed architects, or their professional consultants supplying <br />professional services in connection with the Property. <br />6. Actions Affecting Property. Trustor shall appear in and contest any action or <br />proceeding purporting to affect the Property or the rights or powers of the Beneficiary or Trustee <br />hereunder, and shall pay all reasonable costs and expenses, including attorneys' fees, in any such <br />action or proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to make any <br />payment or do any act as and in the manner provided in any of the Loan Documents, Beneficiary <br />and/or Trustee, each in their own discretion, without obligation to do so and after ten (10) days <br />written notice to or demand upon Trustor and without releasing Trustor from any obligation, may <br />make or do the same in such manner and to such extent as either may deem necessary to protect <br />their respective interest in and to the Property. Trustor shall, immediately upon demand therefor <br />by Beneficiary or Trustee, pay all reasonable costs and expenses incurred by Beneficiary or Trustee <br />in connection with the exercise by Beneficiary or Trustee of the foregoing rights, including without <br />limitation costs of evidence of title, court costs, appraisals, surveys and attorneys' fees. <br />7. Default. Any default of any of the provisions of this Deed of Trust by Trustor, any <br />default under the documents relating to the Senior Liens or any default under and as defined in any <br />other Loan Document shall constitute an event of default (an "Event of Default") under this Deed <br />of Trust. <br />8. Certain Remedies. Without limiting the rights of the Beneficiary under the Loan <br />Documents and in addition to any other rights or remedies available to Beneficiary at law or in <br />equity, upon the occurrence of an uncured Event of Default, the Beneficiary may exercise any one <br />or more of the following rights: <br />(a) Beneficiary may enter upon, take immediate possession of, manage, and <br />operate the Property or any part thereof; make repairs and alterations and do any acts which <br />Beneficiary deems reasonably proper and necessary or advisable to protect the security <br />hereof, including but not limited to those granted Beneficiary pursuant to the other Loan <br />Documents; and either with or without taking possession, in its own name, sue for or <br />otherwise collect and receive rents, issues and profits, including those past due and unpaid, <br />and apply the same, less costs and expenses of operation and collection, including <br />reasonable attorneys' fees and the Beneficiary's costs, upon the Obligations and in such <br />order as Beneficiary may determine. The entering upon and taking possession of the <br />Property, the collection of any rents, issues or profits and the application thereof as <br />
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