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99 109719
<br /> 7. Eminent Domain. Lender is hereby assigned all compensatlon, awards, damagea and other paymenta or relief (hereinafter "Proceeds")
<br /> in connection wfth condemnatfon or other taking of the Property or pert thereof, or for conveyence In Ileu of condemnetlon. Lender shell
<br /> taken or damaged, Lender shall have the option in its sole and absolute discretion,to apply ell such Proceeda, efter deducting therefrom
<br /> aIl coata and expenses incurred by it in connection with auch Proceeds, upon any indebtednesa secured hereby end In auch o�der as
<br /> Lender may determine, or to apply all such Proceeds, after such deductfons,to the restoration of the Property upon auch conditions as
<br /> Lender may determine. Any application of Proceeds to indebtedness shall not extend or postpone the due date of any paymenta under
<br /> the Note,or cure eny default thereunder or hereunder.Any unapplied funda ahall be paid to Truator.
<br /> 8. Pertormance by Lender. Upon the occurrence of an Event of Default hereunder, or if any ect is teken or legal proceeding
<br /> commenced which materially arffeCts Lender's iqier st in the Property, Lender may In Ita own disc�etion,but without obligation to do so,
<br /> and without notice to or d�maihd'�u��in�'r�stor�grfc�without releasing Trustor from any obligation, do eny act which Trustor hes agreed
<br /> but fails to do and may a�so do any other act it deems necessary to protect the security hereof.Trustor shall, immediately upon demand
<br /> therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by
<br /> Lender of 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 shall not incur any Ifability because of anything it may do or omit to do hereunder.
<br /> 9.Hazardous Materials.Trustor shall keep the Property in compliance with all epplicable laws,ordinances and regulatfons relating to
<br /> industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws"). Trustor ahall keep the Property
<br /> iree from ail substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein as "Hazardous
<br /> Materials"1. Trustor hereby werrants and represents to Lender that there are no Hazardous Materiat on or under the Property. Trustor
<br /> hereby agrees to indemnify end hold harmless Lender, its directors, officers, employees and agents, and any successors to Lender's
<br /> interest, from and egainst any and all claims, damages, losses end ifabilftiea arising in connection with the presence, use, dispoael or
<br /> trensport of eny Hazardous Materials on,under, from or about the Property. THE FOREGOING WARRANTIES AND REPRESENTATIONS,
<br /> AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREG�ING INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF
<br /> TRUST.
<br /> 10. Aasignment of Rents. Trustor hereby assigns to Lender, and grants Lender a security interest in, all present, futu�e and 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 rents, issues and profits as they become due and payable. Upon the occurrence of an Event of
<br /> Default, Lender may, either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a
<br /> court and without regard to the adequacy of Its aecurity, enter upon end take poasesalon of the Property,or eny part thereof.In ita own
<br /> name or in the name of the Trustee, and do eny acta whfch it deems necessary or deairable to preserve the velue, marketebility or
<br /> rentability of the Property, or any part thereof or intereat therein, or to increase the income therefrom or protect the security hereof and,
<br /> with or without taking possession of the Property, sue for or otherwise collect the rents, Issues end profits thereof, including those past
<br /> due and unpaid, by notifying tenants to make paymenta to Lender. Lender may apply renta, Issuea and profita, less costs and expenses
<br /> of operation and collection including attorneys' fees,to any indebtednesa secured hereby,all in such order as lender mey determine.The
<br /> entering upon and taking posaession of the Property, the collectlon of such rents, lasuea end profita, and the applicatlon thereof as
<br /> aforesaid, shall not cure or waive eny default or notice of default hereunder or Invalldate eny act done in reaponae to such default or
<br /> pursuant to such notice of default and, notwithstanding the continuance in possession of the Property or the collection, receipt and
<br /> application of rents, issues or profits, Trustee and Lender shall be entitled to exercise every right provided for in eny of the Loan
<br /> Instruments or by law upon occurrence of any Event of Default, including without limitation the right to exercise the power of sale.
<br /> Further, Lender's rights and remedies under this paragraph shall be cumulative with, and in no way a (fmitation on, Lender's rights and
<br /> remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee and the receiver shall be liable to
<br /> account only for those rents actually received. � '
<br /> 1 1. Events oi Default.The following shall constitute an Event of Defaulf under this Deed of Trust:
<br /> (a) Failure to pay any installment of principal or interest of any other sum secured hereay when due;
<br /> (b) A breach of or default under any provision contained in the Note,this Deed of Trust,any of the Loan Instruments,or any
<br /> - other lien or encumbrance upon the Property;
<br /> lc) A vurit of axesution or attachrnQnt or any sia►itar procecs-sha!! be entered against TrustaF+evhi.^.�'�sSea!lbaeorne sRen-on the
<br /> Property or any portion thereof or interest therein;
<br /> Id)There shall be filed by or against Trustor or Borrower an action under any present or future federal,state or other statue,law
<br /> or regulation relating to bankruptcy, insolvency or other relief for debtors;or there shall be appointed any trustee, receive� or
<br /> liquidator of Trustor or Borrower or of all or any part of the Property,or the rents,issues or profits thereof,or Trustor or Borrower
<br /> 'shali 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 shall be permitted to execute
<br /> � a lease of the Property that does not contain an option to purchase and the term of which does not exceed one year;
<br /> (f) Abandonment of the Property;or
<br /> (g) If Trustor is not an individual, the issuance, sale, transfer, assignment, conveyance or encumbrance of more than (if a
<br /> corporation) a total of x/A percent of its issued and outstanding stock, or (if a partnership) a total of x/a percent of
<br /> partnership interests, or (—i'� a fimited liability company) a total of N�A percent of the Iimited liability company interests or voting
<br /> rights during the period this Deed of Trust remains a lien on the Property.
<br /> 12. Remedies;Acceteration Upon Defeult.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 and the sarne shall thereupon become due and. payable without any
<br /> presentment,demand,protest or notice of any kind.Thereafter Lender may: ' r �� �
<br /> (a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee ahall thereafter, ceuse 7rustor's interest
<br /> in the Property to be sold and the proceeds to be distributed, all in the manner provided in the Nebraska,Trust Deeds Act;
<br /> Ib) Exerciae any and all rights provided for in any of the Loan Instruments or by law upon occurrence of any Event,of
<br /> Default; and •
<br /> (c)Commence an action to foreclose thla Deed of Trust as e mortgege, appoint a receiver,or epecifloally enforce eny of the
<br /> covenanta hereof. '
<br /> No remedy herein conferred upon or reserved to Trustee or Lender is Intended to be exclusive�of eny other•remedy herein, in the Loan
<br /> Instruments or by law provided or permitted, but each shall be cumulative, shall be in edditlon to every other�emedy given hereunder, in
<br /> the Loan Instruments or now or hereafter existing at law or in equity or by statute, end may be exercised concu�rently,indepe�de�tly or
<br /> successively. �
<br /> 13.Trustee.The Trustee may resign at any time without cause, and Lender may at any time and.without cause appoint a successor
<br /> or substitute Trustee. Trustee shall not be liable to any party, including without limitetion Lender, Borrower, Trustor or eny purchaser of
<br /> the Property, for any loss or damage unless due to reckless or willfui misconduct, and shall not be required,to.take any actfon in -
<br /> connection with the enforcement of this Deed of Trust unless indemnified, in writing,for all costs, compensatio�or expenses which may
<br /> be associated therewith. In addition, Trustee may become a purchaser at any sale of the P�operty (judicial or under the power of sale
<br /> granted herein);postpone the sale of all or any portion of the Property, as provided by law;or seli the Property as a:whole, or in,separate
<br /> parcels or lots at Trustee's discretion. �,�; i , i � �
<br /> 14. Fees end Expensea.In the event Trustee sells the Property by exercise of power of sale,Trustee ahall be entitled to apply any sale ;
<br /> proceeds first to payment of aIi costs and expenses of exercisfng power of sale, including all Trustee's fees;�and Lender's and Trustee's j
<br /> attomey's fees, actually incurred to extent permitted by applicable law. In the event Borrower or Trustor exercises any right provided by i
<br /> law to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs and expenses actually incurred as a result of, I
<br /> Trustor's default, including without limitation ail Truatee's and attorney's fees,to the extent permitted by applicable law.
<br /> 15. Future Advances. Upon request of Borrower, Lender mey, at its option, make additional and future advencea and readvances to
<br /> Borrower. Such advances and readvances, with interest thereon, shall be aecured by this Deed of Trust. At ho time ahall the principal
<br /> amount of the indebtedness secured by thia Deed of T�ust, not fncluding sums advanced to protect the security of this Deed of Trust,
<br /> xceed the ori inal rinci el amount ateted herein,or 9 " � ' ,whlchever la greater. �
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