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200510853
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Last modified
11/2/2005 12:01:36 PM
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11/2/2005 12:01:35 PM
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DEEDS
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200510853
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<br />200510853 <br /> <br />not been cured on the date so specified, then Lessee's rights to possession of the Project shall cease <br />and the term hereof and this Agreement shall thereupon be terminated, and Lessor may re-enter and <br />take possession ofthe Project, or any part thereof, as of Lessor's former estate; or, as an alternative <br />remedy, Lessor may, without terminating the term or this Agreement, re-enter as above provided or <br />take possession pursuant to legal proceedings or pursuant to any notice provided for by law and <br />thereafter shall use reasonable diligence to relet the Project, or parts thereof, for such term or terms <br />(but not beyond the term hereunder in which such default occurred), and at such reasonable rental or <br />rentals and upon such other terms and conditions as Lessor (with the consent of the Trustee) may <br />deem advisable, with the right to make alterations and repairs to the Project; and no such re-entry or <br />taking of possession of the Project by Lessor shall be construed as an election on Lessor's part to <br />terminate this Agreement unless the termination thereof be decreed by a Court of competent <br />jurisdiction, and no such repossession by Lessor shall relieve Lessee of its obligation to make the <br />Payments and pay additional rent or of any of its other obligations under this Agreement, all of <br />which shall survive such repossession, and Lessee shall continue to make the Payments and pay all <br />additional rent provided for in this Agreement until the end of the term and whether or not the <br />Project shall have been relet, less the net proceeds, if any, of any reletting of the Project after <br />deduction of all of Lessor's expenses in or in connection with such reletting, including without <br />limitation all repossession costs, brokerage commissions, legal expenses, attorney's fees, expenses <br />of employees, alteration costs and expenses of preparation for reletting. Having elected to re-enter <br />or take possession of the Project without terminating this Agreement or the term herein provided <br />for, Lessor may (but only with the consent of the Trustee) by notice to Lessee given at any time <br />thereafter while Lessee is in default in the making of the Payments or paying additional rent or in <br />the performance of any other obligation under this Agreement, elect to terminate this Agreement <br />and the term then in effect on a date to be specified in such notice, which date shall not be earlier <br />than ten (10) days after the giving of such notice, and if all defaults of Lessee shall not have been <br />cured, on the date as specified, then the term hereof and this Agreement shall thereupon be <br />terminated. <br /> <br />Section 15.02. If, in accordance with any ofthe foregoing provisions of this Article, <br />Lessor shall have the right to elect to re-enter and take possession of the Project or any part thereof, <br />Lessor may enter and expel Lessee and those claiming through or under Lessee and remove the <br />property and effects of both or either (forcibly if necessary) without being deemed guilty of any <br />manner of trespass and without prejudice to any remedies for arrears of rent or preceding breach of <br />covenant. <br /> <br />Section 15.03. In addition to the remedies described above, Lessee (or the Trustee) <br />shall be entitled to exercise any and all remedies of a secured party under the Nebraska Uniform <br />Commercial Code with respect to any portion of the Project which constitutes fixtures or <br />equipment. <br /> <br />Section 15.04. Anything in this Agreement to the contrary notwithstanding, the <br />remedies available to Lessor and the Trustee relating to repossession as described above shall not be <br />construed to preclude direct enforcement by legal proceedings of Lessee's obligation to make the <br />Payments and to pay additional rent hereunder and the above described remedies of repossession, or <br />otherwise, shall be construed as additional and supplemental to such direct enforcement Lessee's <br />obligation to make the Payments and pay additional rent by legal proceedings. <br /> <br />14 <br />
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