|
200503'788
<br />Disabilities Act of 1990, as amended from time to time, and the rules and regulations adopted thereunder.
<br />Grantor shall do all things necessary to preserve and keep in force and effect its existence, franchises, rights
<br />and privileges granted by the laws under which it is organized.
<br />11. Impairment of Property. Grantor shall not, without Beneficiary's prior written consent, change
<br />the general nature of the use of the Real Property, initiate, acquire or permit any change in any public or
<br />private restrictions (including a zoning reclassification) limiting the uses which may be made of the Real
<br />Property, or take or permit any action which would impair the value of the Property or Beneficiary's lien or
<br />security interest in the Property.
<br />12. Inspection of Real Property. Beneficiary or its authorized representative may inspect the Real
<br />Property at reasonable times after reasonable notice.
<br />13. Grantor's Defense of Property and Beneficiary. Grantor shall appear in and defend any
<br />action or proceeding which may affect the Property or the rights or powers of Beneficiary or Trustee. If
<br />Beneficiary is made a party to any litigation concerning this Deed of Trust or the Property, or any part
<br />thereof or interest therein, or the occupancy thereof by Grantor, then Grantor shall indemnify and hold
<br />Beneficiary harmless from all liability by reason of such litigation, including attorneys fees and expenses
<br />incurred by Beneficiary in any such litigation, whether or not any such litigation is prosecuted to judgment.
<br />14. Beneficiary's Right to Protect Property. Upon reasonable notice to Grantor, Beneficiary may
<br />commence, appear in, and defend any action or proceeding which may affect the Property or the rights or
<br />powers of Beneficiary or Trustee. Beneficiary may pay, purchase, contest or compromise any encumbrance,
<br />charge or lien which is not an Exception which in its judgment appears to be prior or superior to the lien of
<br />this Deed of Trust. If Grantor fails to make any payment or do any act required under the Loan Documents,
<br />including without limitation, payment of taxes and assessments and maintenance of insurance on the
<br />Property, Beneficiary, without any obligation to do so, without notice to or demand upon Grantor and
<br />without releasing Grantor from any obligations under the Loan Documents, may make the payment or cause
<br />the act to be performed in such manner and to such extent as Beneficiary may deem necessary to protect the
<br />Property. Beneficiary is authorized to enter upon the Real Property for such purposes. In exercising any of
<br />these powers Beneficiary may incur such expenses, in its reasonable discretion, it deems necessary.
<br />15. Repayment of Beneficiary's Expenditures. Grantor shall pay within 10 days after written
<br />notice from Beneficiary all sums expended by and all costs and expenses incurred by Beneficiary in taking
<br />any actions pursuant to the Loan Documents including reasonable attorneys' fees, appraisal and inspection
<br />fees, and the costs for title reports. Expenditures by Beneficiary shall bear interest from the date of such
<br />advance or expenditure until paid at the rate of four percent (6 %) per annum above the note rate in effect at
<br />that time (but in no event less than 12% per annum), shall constitute advances made under this Deed of
<br />Trust and shall be secured by and have the same priority as the lien of this Deed of Trust. If Grantor fails to
<br />pay any such expenditures, and interest thereon, Beneficiary may, at its option, without foreclosing the lien
<br />of this Deed of Trust, commence an independent action against Grantor for the recovery of the expenditures
<br />and advance any undisbursed loan proceeds to pay the expenditures.
<br />16. Due On Sale or Transfer; Change of Control. If (i) the Real Property or any part thereof or
<br />interest therein is sold, transferred, leased (other than a space lease with no option to purchase), conveyed,
<br />or otherwise alienated, or a contract of sale or other conveyance entered into with respect thereto, or (ii)
<br />there is a change in or transfer of a controlling interest in Grantor without the prior written consent of
<br />Beneficiary, then, upon the occurrence of any one or more of the foregoing events, and regardless of
<br />whether or not Grantor shall be in default under the Note or this Deed of Trust or any other Loan Document,
<br />Beneficiary may, at its option, declare the then outstanding principal balance evidenced by the Note plus
<br />accrued interest thereon immediately due and payable or, at its sole option, it may consent to the conveyance
<br />Doti- Nebraska -12/04 NC LGL 4 Symetra Loan No. SBOL1508
<br />
|