|
07-27-1999 DEED OF TRUST � � �.�7 5 6 3 P89e 2
<br /> Loan No 987263 (Continued)
<br /> Lender. The word"Lender"means UNITED NEBRASKA BANK,its successors and assigns.
<br /> Note. The word "Note" means the Note dated July 27, 1999, in the principal amount of $290,000.00 from BoROwer and any
<br /> co-borrowers to Lender,together with�Ij_r�o�e�s'means nthreeCa�i3�s�notesn9dat d uJuly 27,t 1999�totalling gte of
<br /> thi Deed of Trust is August 1,2002. 1�
<br /> �294,�00.00
<br /> Persona roperty. The words "Personal Property" mean ali equipment, fixtures, and other articles of personal property now or hereafter
<br /> owned by Trustor, and now or hereafter aftached or affxed to the Real Property; together with all accessions, parts, and additions to, all
<br /> replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
<br /> proceeds and refunds of premiums)from any sale 9r other disposition of the Property.
<br /> Property. The word"Property"means collectively the Real Property and the Personal Property.
<br /> Real Property. The words"Real Property"mean the property,interests and rights described above in the"Conveyance and Grant"section.
<br /> Relaied Documents. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan
<br /> agreements,environmental agreements,guaranties,security agreements,morfgages,deeds of trust,and all other instruments,agreements and
<br /> documents,whether now or hereafter existing,executed in connection with the Indebtedness.
<br /> Rents. The word"Rsnts" means all present and future rents, revenues, income, issues,royalties, profits, and other benefits derived from the
<br /> Property.
<br /> Trustee.,The word'Trustee"means UNITED NEBRASKA BANK and any substitute or successor trustees.
<br /> Trustor. The word"frustor"means any and all persons and entities executing this Deed of Trust,including without limitation all Trustors named
<br /> above. Any Trustor who signs this Deed of Trust, but does not sign the Note, is signing this Deed of Trust only to grant and convey that
<br /> Trustor's interest in the Reai Property and to grant a security interest in Trustor's interest in the Rents and Personal Property to Lender and is not
<br /> personally liable under the Note except as otherwise provided by contract or Iaw.
<br /> THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br /> PROPERTY, IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF
<br /> TRUSTOR UNDER THE NOTE,THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED
<br /> ON THE FOLLOWING TERMS:
<br /> TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a)this Deed of Trust is executed at Borrower's request and not at
<br /> the request of Lender; (b)Trustor has the full power,right,and suthoriiy to enter into this Deed of Trust and to hypothecate the Property; (c)the
<br /> provisions of this Deed of Trust do not conflict with,or result in a default under any agreement or other instrument binding upon Trustor and do not
<br /> result in a violation of any Iaw,regulation,court decree or order applicable to Trustor; (d)Trustor has established adequate means of obtaining from
<br /> Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no representation to Trustor about
<br /> eorrower(including without limitation the creditworthiness of Borrower).
<br /> TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any"one action"or"anti-deficiency"law, or any other law which
<br /> may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for
<br /> deficiency,before or after Lender's commencement or completion of any foreclosure action,either judicially or by exercise of a power of sale.
<br /> PAYMENT AND PERFORMANCE. Excepi as otherwise provided in ihis Deed of Trust, Borrower shall pay to Lender ali Indebtedness secured by
<br /> this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obiigations under the Note,this Deed of
<br /> Trust,and the Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor and Borrower agree that Truslor's possession and use of the Property shail be
<br /> governed by the following provisions: b use,
<br /> Possession and Use. Until the occurrence of an Event of Default,Trustor may (a)remain in possession and control of the Property, ( )
<br /> operate or manage the Property,and (c)collect any Rents from the Property.
<br /> Duty to Maintain. Trustor shall maintain the Property in tenantabie condition and promptly perform all repairs,replacements,and maintenance
<br /> necessary to preserve its value.
<br /> Hazardous Subslances. The terms"hazardous waste,""hazardous substance,""disposal,""release,"and"threatened release,"as used in this
<br /> Deed of Trust, shal� have the same meanings as set forth in the Comprehensive Environmental Response, Compensation, and Liability Act of
<br /> 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Resuthorization Act of 1986, Pub. L. No.
<br /> 99-499("SARA"), the Hazardous Materials Transportation Act,49 U.S.C. Section 1801,et seq.,the Resource Conservation and Recovary Act,
<br /> 42 U.S.C. Section 6901,et seq., or other applicable state or Federal laws,rules,or regulations adopted pursuant to any of the foregoing. The
<br /> terms"hazardous waste"and"hazardous substance"shall also include,without limitation,petroleum and petroleum by-products or any fraction
<br /> thereof and asbestos. Trustor represents and warrants to Lender that: (a)During the period of Trustor's ownership of the Property,there has
<br /> been no use,generation,manufacture,storage,treatment,disposal,release or threatened release of any hazardous waste or substance by any
<br /> person on, under,about or from the Property; (b)Trustor has no knowledge of,or reason to believe that there has been,except as previously
<br /> disclosed to and acknowledged by Lender in writing, (i)any use,generation,manufacture,storage,treatment,disposal,release,or threatened
<br /> release of any hazardous waste or substance on,under,about or from the Property by any prior owners or occupants of the Property or (ii)any
<br /> actual or threatened litigation or claims of any kind by any person relating to such matters; and (c) Except as previously disclosed to and
<br /> acknowledged by Lender in writing, (i) neither Trustor nor any tenant, contractor, agent or other suthorized user of the Property shall use,
<br /> generate,manufacture,store,treat,dispose of,or release any hazardous waste or substance on,under,about or from the Property and (ii)any
<br /> such activity shall be conducted in compliance with all applicable federal,state, and local laws, regulations and ordinances, including without
<br /> limitation those laws, regulations, and ordinances described above. Trustor authorizes Lender and its agents to enter upon the Property to
<br /> make such inspections and tests, at Trustor's expense, as Lender may deem appropriale to determine compliance of the Property with this
<br /> section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create
<br /> any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and warranties contained herein are
<br /> based on Trustor's due diligence in investigating the Property for hazardous waste and hazardous substances. Trustor hereby (a)releases and
<br /> waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under any
<br /> such laws, and (b) agrees to indemnify and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and
<br /> expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a
<br /> consequence of any use, generation, manufacture,storage, disposal,release or threatened release of a hazardous waste or substance on the
<br /> properties. The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the
<br /> Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any
<br /> interest in the Property,whether by foreclosure or otherwise.
<br /> Nuisance,Waste. Trustor shall not cause,conduct or permit any nuisance nor commit, permit,or suffer any stripping of or waste on or to the
<br /> Property or any portion of the Property. Without limiting the generality of the foregoing,Trustor will not remove,or grant to any other party the
<br /> right to remove,any timber,minerals(including oil and gas),soil,gravel or rock products witho�lt tMe prior�nTri#en consent of Lender.
<br /> Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without the prior written consent
<br /> of Lender. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory to Lender io
<br /> replace such Improvements with Improvements of at least equal value.
<br /> Lender's Right to Enter. Lender and its agents and representatives may enter upon the Real Property at all reasonable times to attend to
<br /> Lender's interests and to inspect the Property for purposes of Trustor's compliance with the terms and conditions of this Deed of Trust.
<br /> Compliance with Governmental Requirements. Trustor shail promptly comply with all Iaws,ordinances,and regulations, now or hereafter in
<br /> effect, of all governmental suthorities applicable to the use or occupancy of the Property, including without limitation, the Americans With
<br /> Disabilities Act. Trustor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any proceeding,
<br /> includir g ntepests inBthePProperty are not jeopardized.nLelnder may8requiretTUstorto post adequate security o�a'surety bond�Ireaso1nably
<br /> Lende s
<br /> satisfactory to Lender,to protect Lender's interest.
<br /> Duty to Protect. Trustor agrees neither to abandon nor leave unattended the Property. Trustor shall do all other acts,in addition to those acts
<br /> set fo�th above in this section,which from the character and use of the Property are reasonably necessary to protect and preserve the Property.
<br /> DUE ON SALE-CONSENT BY LENDER. Lender may,at its option,declare immediately due and payable all sums secured by this Deed of Trust
<br /> upon the sale or transfer, without the Lender's prior written consent, of all or any part of the Real Property,or any interest in the Real operty. A
<br /> "sale or transfer"means the conveyance of Real Property or any right,titte or interest therein;whether legal,beneficial or equitable;whe votuntary
<br /> or involuniary;whether by ouiright sale,deed,inslallment sale contraci,Iand contraci,contract for deed, leasehold interes h, r g eater than
<br />
|