|
200400701
<br />attorneys fees and expenses incurred by Beneficiary in any such litigation,
<br />whether or not any such litigation is prosecuted to judgment. This
<br />indemnification shall survive the termination of the trust agreement. Trustor
<br />shall promptly repair, maintain, and replace the Trust Estate or any part
<br />thereof so that, except for ordinary wear and tear, the Trust Estate shall not
<br />deteriorate. In no event shall the Trustor commit waste on or to the Trust
<br />Estate.
<br />5. ENVIRONMENTAL COMPLIANCE. Trustor shall comply with all
<br />federal, state, and local environmental laws, ordinances, rules, requirements,
<br />regulations, and publications as now existing or hereafter existing, amended,
<br />supplemented, or supplanted relating to the preservation of the environment or
<br />the regulation or control of toxic or hazardous substances or materials.
<br />Trustor hereby warrants and represents to Beneficiary that there are no toxic
<br />or hazardous substances or materials on or under the Property. Trustor does
<br />hereby indemnify and hold Beneficiary harmless and any successors to
<br />Beneficiary's interest from and against any and all claims, damages, losses,
<br />and liabilities arising in connection with the presence, use, disposal, or
<br />transport of any substance which is the subject of any environmental law,
<br />regulation, or control of toxic or hazardous substances or materials on, under,
<br />from, or about the Property. This indemnity shall survive reconveyance of the
<br />Property secured by this Trust Deed.
<br />6. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and
<br />contest any action or proceeding purporting to affect the security hereof or
<br />the rights or powers of Beneficiary or Trustee, and shall pay all costs and
<br />expenses, including cost of evidence of title and attorney's fees, in any such
<br />action or proceeding in which Beneficiary or Trustee may appear. Should
<br />Trustor fail to make any payment or to do any act as and in the manner provided
<br />in any of the Loan Instruments, Beneficiary and /or Trustee, in its own
<br />discretion, without obligation so to do and without notice to or demand upon
<br />Trustor and without releasing Trustor from any obligation, may make or do the
<br />same in such manner and to such extent as either may deem necessary to protect
<br />the security hereof. Trustor shall, immediately upon demand therefor by
<br />Beneficiary, pay all costs and expenses incurred by Beneficiary in connection
<br />with the exercise by Beneficiary of the foregoing rights, including without
<br />limitation costs of evidence of title, court costs, appraisals, surveys and
<br />attorney's fees. Any such costs and expenses not paid within ten (10) days of
<br />written demand shall draw interest at the default rate provided in the Note.
<br />7. EMINENT DOMAIN. Should the Trust Estate, or any part thereof
<br />or interest therein, be taken or damaged by reason of any public improvement or
<br />condemnation proceeding, or in any other manner including deed in lieu of
<br />Condemnation ( "Condemnation "), or should Trustor receive any notice or other
<br />information regarding such proceeding, Trustor shall give prompt written notice
<br />thereof to Beneficiary. Beneficiary shall be entitled to all compensation,
<br />awards and other payments or relief therefor, and shall be entitled at its
<br />option to commence, appear in and prosecute in its own name any action or
<br />proceedings. Beneficiary shall also be entitled to make any compromise or
<br />settlement in connection with such taking or damage. All such compensation,
<br />awards, damages, rights of action and proceeds awarded to Trustor (the
<br />"Proceeds ") are hereby assigned to Beneficiary and Trustor agrees to execute
<br />such further assignments of the Proceeds as Beneficiary or Trustee may require.
<br />8. FUTURE ADVANCES. Upon request of Trustor, Beneficiary, at
<br />Beneficiary's option, prior to reconveyance of the Property to Trustor may make
<br />future advances to Trustor. Such future advances, with interest thereon, shall
<br />be secured by this Deed of Trust when evidenced by promissory notes stating
<br />that said notes are secured hereby.
<br />9. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time
<br />to time, by a written instrument executed and acknowledged by Beneficiary,
<br />mailed to Trustor and Recorded in the County in which the Trust Estate is
<br />located and by otherwise complying with the provisions of the applicable law of
<br />the State of Nebraska substitute a successor or successors to the Trustee named
<br />herein or acting hereunder.
<br />10. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to,
<br />inures to the benefit of and binds all parties hereto, their heirs, legatees,
<br />3
<br />
|