|
. . .. .. -�
<br /> 99 108901
<br /> 7. Eminent Domain. Lender Is hereby assigned all compensation, awards, dameges end other paymenta ot�ellef (he�elnefter "P�oceeds")
<br /> in connect(on with condemnetlon or other teking of tfie Property or part thereof, or for conveyance In IIeU of condeittnetlon.Lender ehall
<br /> taken or damaged, Lender shall fiave the optfon in Its sole end absolute discretion, to apply ell such P�oCeede,efte�deductinp there(rom
<br /> all coate and expensea incurred by it In connection with euch Proceeda, upon eny Indebtedneae eecured hereby end In euCh o�de� ea
<br /> Lender may determine, or to apply all such Proceeds, after such deductions, to the restoretion of the Property upon such conditlons as
<br /> Lender may determine. Any application of Proceede to Indebtedness ehell not extend or postpone tha dUS data of any paymenta under
<br /> the Note,or cure any default thereunder or hereunder. Any unapplied funds shell be paid to Trustor. '
<br /> 8. Pe�tormancs by Lender. Upon the occurrence of an Event of Default hereunder, or If eny ect Is'takan or legal proceeding
<br /> commenced which mate�falty affects Lender's inter t In the Property+,L_ender may In ita own diacretlon,but wlthout obligation to do so,
<br /> and whhout notfce to or demend upon Truatq� ����Nlt�s�t�elea���,'Truetor irom any obiigation,do eny act which Truator heg agreed
<br /> but fai�a to do end may also do any other act it deems necessery to protect the aecurity hereof.Trustor ahall,Immediately upon demand
<br /> theretor by Lender, pay to Lender all costs end expensea incurred and aums expended by Lender In connectlon with the exercise by
<br /> Lender o( the foregoing rights, together with interest thereon at the default rate provided In the Note, which shall be added to the
<br /> Indebtedness secured hereby.Lender ahatl not incur eny Ilabftity because of anything it may do or omit to do hereunder.
<br /> 9.Hezardous Meterials.Trustor shall keep the Property in compliance with ell epplicable laws,ordinances and regulations relating to
<br /> industrial hygiene or environmental protection (collect(vely referred to herein as "Environmental Lawa"). Trustor shall keep the Property
<br /> free irom all substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein es "Hazardous
<br /> Materials"l. Trustor hereby warrants and represents to Lender that there are no Hazardoua Materlal on or under the Property. Trustor
<br /> hereb a rees to indernnify and hold harmless Lender, fts directors, officers, employees and agents, and any successors to Lender's
<br /> Y 8 «^•' f ert e use dis osai or
<br /> AND TRUSTOR'S OBUGATIONS PURSUANT TO THE FOREGOINd INDEMNITY, SHALL SURVIVE EC
<br /> TRUST.
<br /> 10. Assignment of Renta. Trustor hereby assigns to Lender, and grants Lender a secu�fty Interest In, ell present, future end after
<br /> rising rents, issues and profits of the Property; provided that Trustor shall, until the occurrence of an Event of Default hereunder, have
<br /> the right to collect and retain such renta, issues and profita as they become due and payable. Upon the occurrence of an Event of �
<br /> Detault, Lender may, either in person or by agent, wfth or wfthaut bringing any ection or proceeding, or by a recelver appolnted by a
<br />; court and without regard to the edequacy of ita security, enter upon and take poasesalon of the Property,or any part thereof,In Its own
<br /> name or in the name o( the Trustee, and do any acts whlch it deems neceasary or desireble to preserve the value, marketability or
<br /> rentabiiity of the Property,or eny part thereof or Intereat therein, or to increase the Income therefrom or protect the securlty hereof end,
<br /> with or without taking possesslon of the Property, sue for.or otherwise collect the rents,Iseues and profite thereof, including thoae past
<br /> due end unpaid, by notifying tenants to make paymente to Lender. Lender may apply rents, isaues and profite,lese coata end expenaes
<br /> of operation and coliection Includfng attorneys' feea,to eny Indebtednese secured hereby,all in euch order es Lender may determine.The
<br /> entering upon end taking posaeasion of the Property, the collectlon of euch rente, Iseues end profite, and the epplicetion thereof as
<br />� atoresaid, shall not cure or wafve eny default or notice of default hereunder or invalldate any act done In reaponae to euch default or
<br /> pursuent to such notice of default end, notwithatanding the conti�uance In poaseaslon of the Property or the collection, receipt and
<br /> epplicatfon of rents, issues or protite, Truetee and Lender ehell be entitled to exercise every right provlded for In any of the Loan
<br /> Instrumenta or by law upon occurrence of any Event of befault, including without limitatlon the rlght to exerclae the pawer of sele.
<br /> Further, Lender's rights and remediea under thia peragraph shall be cumuletive with, and in no vyay a Iimitetton on, Lender's rights and
<br /> remedles under any assignment of leases and rents recorded against the Property. Lender, Truatee and the recelver shall be liable to
<br /> account only for those rents actually recelved. '
<br /> ,i� �
<br /> 11. Events of Default.The following shall constitute an Event of Default under thls Deed of Trust:
<br /> (a) Failure to pay any insteilment of principal or interest of eny other aum secured hereby when due;
<br /> Ibl A breach of or default under any provisfon contained In the Note,this Deed of Trust,any of the Loen inatruments,or any
<br />, other lien or encumbrance upon the Property;
<br /> q (c) A writ of execution or attechment or any similer proc�as ahall b�entered egalnst T�ustor which ehalt beaoms s Ilen an the
<br />� Property or any portion thereof or interest thereln; �
<br /> Id)There shall be tiled by or ageinst Trustor or Borrower an actlon under any preaent or future federal,atate or other statue,law
<br /> or regu�ation relating to bankruptcy, insolvency or other relief for debtors;or there shall be appointed any truatee, receiver or
<br /> Iiquidator of Trustor or 8orrower or of eli or any part of the Property,or the rents,issues or proflta thereof,or Trustor or.Borrower
<br /> 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 Property,
<br /> either voluntarily or involuntarily, without the express written consent of Lender;provided that Trustor shal)be permitted to execute
<br /> a lease of the Property that does not contain an optlon to purchase and the term of which doea not exceed one year; .�� ,
<br /> (f) Abandonment of the Property;or
<br /> (g1 If Trustor Is not an individual, the iasuance, sale, transfer, asaignment, conveyance or encumbrance of mo�e than (if a
<br /> corporation) a total of N/A percent of its fssued and outstanding stock, or (if a partnership) e total of N/A percent of
<br /> partnerahtp interests, or i a mited Ilability companyl a totel of N/A percent of the Iimited Uebility company nterests or voting
<br /> rlghts during the period this Deed of Trust remains a lien on the Property.
<br /> 12.Remedies;Accaleratlon Upon Detault.In the event of any Event of Default Lender may,without notice except as required by law,
<br /> declare all indebtedness secured hereby to be due and payable end the same ahall thereupon become due and, payeble without any
<br /> ,,. ,�., ._,. . y �� �. i�4,,
<br /> 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 shell thereafter ceuse Trustor's, interest
<br /> in the Property to be aold and the proceeds to be dlstributed, ell in the manner provlded in the Nebreska,Truat Deeda Act;
<br /> (b)Exercise eny and all rights provided for in any of the Loan Instruments or .by law, upon,occurrence of.any Event,of
<br /> Deteult; end , � � �, ,'. N
<br /> (c)Commence an action to foreclose this Deed of Trust es e mortgege, appoint e receiver,or apeclfically enforce eny of the
<br /> covenants hereof. ' `
<br /> No remedy herein con(erred upon or reserved to Truatee or Lender la Intended to be excluelve.of any other'remedy herein, in the Loen
<br /> Instruments or by law provided or permitted, but each shall be cumuletive, ahall be in addition to every other remedy given hereunder,in
<br /> the Loan Instruments or now or hereafter ex(st�ng at law or in equitv or l�y stat�te, and n;aV be exerclsed concurrently,IndeQendently or
<br /> � I
<br /> successively. " � ' '
<br /> 13.Trustee.The Trustee may resign at any time without cause, and Lender may et any time and.without cause appolnt e successor
<br /> or substitute Trustee. Trustee shall not be Ilable to any party, including without Ilmitetion Lender, Borrower,'Trustor or any purcheser of 1
<br /> the Property, for any loss or damage unless due to reckiess or willful misconduct, end shall not be required,to,take any action in -
<br /> connection with the enforcement of this Deed of Trust unless indemnified, In writing,for all coats, compensatlon or expenses which may
<br /> be associated therewith. In addition, Trustee may become a purchaser at any sale of the P�operty (judiclal or under the power of sale
<br /> granted herein);postpone the sale of all or any portfon of the Property, ea provided by law; or sell the Property es aiwhole,or;ln.seperate
<br /> I � , .��i, •l •
<br /> parcels or lots at Trustee's discretion. , � ���� I ' '' � � '
<br /> 14.Fees end Expenses.In the event Trustee selis the Property by exerclse of power of sale,Truatee atiall�be entitled to appiy any sale
<br /> proceeds tirst to payment of all costs and expenses of exercising power of sale, including ali Trustee's,fees,end Lender's and Truatee s
<br /> attorney's tees, actualiy incurred to extent permitted by appffcable lew. In the event Borrower or Trustor exercises eny�Ight p�ovided by
<br /> law to cure an Event of Default, Lender shall be entitled to recaver from T�ustor all costs and expenaes,actually Ineurred�as e result of,
<br /> Trustor's de(ault,including without limitation all Trustee's and attomsy's fees,to the extent permitted by applicable law. � � �
<br /> 15. Future Advences. Upon request of Borrower, Lender mey, at its option, make additional and future advences and readvances to
<br /> Borrower. Such advances and readvances, with interest thereon, ahall be aecured by thls Deed of Trust. At no tlme shall the principal
<br /> amount of the (ndebtedness secured by this Deed of Trust, not including sums advanced to protect the security of this Deed of Trust.
<br /> exceed the original principal amount stated hereln,or 8 54 �80 1 ,whlchever Is greeter. �' �
<br /> , , � , � F ,,�i 'i , .�•
<br /> �. � � � ,� . . • .
<br /> . � .., � • . +
<br /> , � , , . ,. , rr , , � .
<br /> . . . ,,�.. . �:,� c,r. . ' •t �.�. . , . �
<br />�
<br />
|