<br />
<br />
<br />
<br />
<br />
<br /> 9. Hazardous Materials. Trustor shall keep the Proprrty In cuirpliance with all applicable laws, ordinance's and regulations
<br /> reiat!ng to industrial hygiene or environmental protection (collectively referred to heieln as "Environmental LrAws"}• Trustor shall
<br /> keep the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (crllectively referred to
<br /> herein as "i-laxardous Materials"). Trustor hereby warrants and represents to Lender that there are no Hazrrdous Materlrlr on or
<br /> under the Property, fruotor hereby agrees to Indemnify and hold harmless Lender; Its directors, officers, employees and agents, and
<br /> any successors to Lender's Interest, from and against any and all claims, damages. losses and liabilities arising in connection with
<br /> the presence, use, disposal or transport of any Hazardous Materials on, under, from or about the Property. THE FOREGOING
<br /> WARRANTIES AND REPRESENTATIONS. AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FORT GOING INDEMNITY, SHALL
<br /> SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br /> 10. Aszignment of Rents.. Trustor hereby assigns to Lender the rents, issues and profits of thr, Property; provided that Trustor
<br /> shall, until the occurrence of an Event of Default hereunder, have the right to collect and retain such rents, issues and profits as they
<br /> become due and payable. Upon the occurrence of an Event of Default, Lender may, Tither In person or by agent, with or without
<br /> bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of Its security, enter
<br /> upon and take possession of the Property, or any part thereof, In Its own name or in the name of the Trustee, and do any acts which It
<br /> deems necessary or desirable to preserve the value, marketability or rentability of the Property, or any part thereof or Interest therein,
<br /> Increase the Income therefrom or protect the security hereof end, with or without taking possession of the Property, sue for er
<br /> otherwise coilect the rents, Issues and profits thereol, including those past due and unpaid, and apply the same, less costs and
<br /> expenses cf operation and collection including a-,mrneys' fen,, upon any Indebtedness secured hereby, all In such order as Lender
<br /> may determine. The entar!ng upon and taking possession of the Property, the collection of such rents, issues and profits and the
<br /> application thereof at, afemsaid, shall not cure or waive any default or notice of default hereunder or Invalidate any act done in
<br /> rn9ponse to such default or pursuant to such notice of default and, notwithstanding the continuance In possession of the Property or
<br /> the collection, receipt and application of rents, issues or profits, and Trustee and Lender shall be entitled to exercise every right
<br /> provided for In any of the Loan Documents or by law upon occurrence of any Event of Default, including without limitation the right to
<br /> exercise the power of sale. Further, Lender's rights and remedies undor this paragraph shall be cumulative with, and in no way a
<br /> limitation on, Lender's rights and remedies under any assignment of leases and rents recorded against the Property, Lender, Trustee
<br /> and the receiver shall be liable to account only those rents actually received.
<br /> 11. Events of Dafault. The following shall constitute an Event of Default under this Deed of Trust
<br /> (a) Faiiure to pay any installment of prinr-IDa1 or Interest of any other sum secured hereby when due;
<br /> (b) A breach of or default under any provision conia!rad In the Note, this Deed of Trust, any of the Loan Documents, or any
<br /> other lien or encumbrance upon the Froperty;
<br /> (c) A writ of execution or attachment or any similar process shall he a i-~,ered against Trustor which shall .become a lien on
<br /> the Property or any portion thereof or interest therein;
<br /> (d) There shall be filed by or against Trustor or Borrower an action under any present or '-iture federal, stag or other
<br /> statute, law or regulation relating to bankruptcy, Insolvency or other relief for debtors; or there shalt Lr~ appointed any trustee,
<br /> receiver or liquidator of Trustor or Borrower or of all or any part of the Property, or the rents, Issue: or prot!ts thareof, or Trustor
<br /> or Borrower shall make any general assignment for the benefit of creditors;
<br /> (e) The,sa!e, transfer, lease, assignment, conveyance or further encumbranc, of all or arty part of of any interest in the
<br /> Property either voluntarily or involuntarily, without the express written, consent of Lender: provided thai Trustu- shrli be
<br /> permitted t ' o execute a lease of the Property that does not contain an option to purchase and theterm of which dole not w ceed
<br /> one year,
<br /> 'f) Abandonment of the Property; or
<br /> (g) it Trustor is ,tot an individual, the issuance, sale, transfer, assignmew, conveyance or encumbrance of more than a toted
<br /> o;.1 - pr.rcent of (if a corporation) its issued and outstanding stock or (it a partnership) a total pf . _ percent of
<br /> p rtnership int~,,rssts during the period this Deed of Trua', remains a lien on the Property.
<br /> 1' 21. Remedla:s; :.'.cceleratlon Upon Default. In the event of any Event of Defau!t Lender may, without notice except as required by
<br /> !ow• declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable
<br /> without any presentment, demand, protest or notice of any kind. Thereafter Lender may:
<br /> (a) Dernand that Trustee exercise the POWER OF SALE granted' herein, and Trustee shaii thersr fter cause Truslor's
<br /> interest In tho Property to be sold and the proceeds to be distributed, all Ir: the manner provided in the Nebmaka Trust Deeds
<br /> Act;
<br /> (b) Exercise any and all rights provided for in any of the Loan Documents or by taw upon occurrence of any Event of Default;
<br /> and
<br /> (c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of :he
<br /> covenants hereof,
<br /> No remedy hers In conferred upon or reserved to Trustee or Lender Is !ntended to be exclusive of any other remedy heroin, in the
<br /> Loan Documents or by law provided or permitted, but each shall be cumulative, shall be in addition to every other remedy given
<br /> hereunder, in the Loan Documents or now or hereah'or existing at law or in equity or by statute, and may be exercised concurrently,
<br /> independently or successively.
<br /> 13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without cause appoint a
<br /> successor or substitute Trustee. Trustee shall not be liable to any party, including without limitation Lender; Borrower, Trustor or any
<br /> purchaser of the Property, for any loss or damage unless due to reckless or willful misconduct, and shall not be required to take any
<br /> action in connection with the enforcement of this De*d of Trust unless indemnified. in writing, for all costs, compensation or
<br /> expenses which may be associated therewith. In addition, Trustee may become a purchaser at any sale or the Property audicial or
<br /> under the power of sale granted herein); postpone the sale of all or any portion of the Property, as provided by law; or se!I the
<br /> Property as a whole, or in separate parcels or lots at Trustee's discretion.
<br /> 14. Fries and Expenses. In the evont Trustee sells the Property by exercise of power of sale, Trustee shall be entitled to apply
<br /> any sale proceeds first to payment of all costs and expenses of exercising power of sale, Including all Tru~,taB's fees, and Lender's
<br /> and Trustee's attorn :y's fees, actually incurred to extent permitted by appiicaNn law. In the event Borrower or Trustor exercises any
<br /> right provided by law to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs and expenses aciuelly
<br /> incurred as a result of Truster's default, including without limitation all Trustee's and attorney's fees, to the extent permitted by
<br /> applicable low,
<br /> 15. Future Advances. Upon request of Borrower, Lender may, at its option, make additional and future advances and re-
<br /> advances to Borrower. Such advances and readvances, with interest thereon, shall be secured by this Deed of Trust. At no time shall
<br /> the principal amount of the indebtedness secured by this Deed of Trust, nj~nWVgjlums advanced to protect the security of this
<br /> Deed of Trust, exceed the original principal amount stated herein, or $ whichever Is greater,
<br /> 16. Mlscollanaous Provisions.
<br /> (a) Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this
<br /> Deed of Trust chanted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability
<br /> of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against
<br /> such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust
<br /> by reason of any demands made by the original Borrower and Borrower's successors in interest.
<br /> (b) Lender's Powers. Without affecting the liability of any other person liable for the payment of any obligation herein
<br /> menfioned, and without affecting the lien or change of this Deed of rrust upon any portion of the Property not then or theretofore
<br /> released as security for the full amount of all unpaid obligations. Lender may, from time to time and wittrout notice (1) release any
<br /> person so liable, (ii) extend the maturity or alter any of the terms of any such obligations, (ill) grant other indulgences, (iv) release
<br /> or reconvey. or cause to be released or reconveyed at any firve at Lender's option any parcel, portion or all of the Property,
<br /> (v) take or release any other or additional security for any obligation herein mentioned, or (vi) make compositions or other
<br /> arrangements with debtors in relation thereto.
<br />
|