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200605274
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Last modified
6/13/2006 4:15:09 PM
Creation date
6/13/2006 4:15:07 PM
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DEEDS
Inst Number
200605274
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<br />200605274 <br />(a) The failure of Lender or Trustee to insist upon strict performance of any term <br />hereof shall not be deemed to be a waiver of any term of this Security Iristrument. Borrower <br />shall not be relieved of Borrower's obligations hereunder by reason of (i) the failure of Lender or <br />Trustee to comply with any request of Borrower or any guarantor or indemnitor with respect to <br />the Loan to take any action to foreclose this Security Instrument or otherwise enforce any of the <br />provisions hereof or of the Note or the other Loan Documents, (ii) the release, regardless of <br />consideration, of the whole or any part of the Property, or of any Person liable for the <br />Obligations or any portion thereof, or (iii) any agreement or stipulation by Lender extending the <br />time of payment or otherwise modifying or supplementing the terms of the Note, this Security <br />Instrument or the other Loan Documents. <br /> <br />(b) It is agreed that the risk of loss or damage to the Property is on Borrower, and <br />Lender shall have no liability whatsoever for decline in the value of the Property, for failure to <br />maintain the Policies, or for failure to determine whether insurance in force is adequate as to the <br />amount of risks insured. Possession by Lender shall not be deemed an election of judicial relief <br />if any such possession is requested or obtained with respect to any Property or collateral not in <br />Lender's possession. <br /> <br />(c) Lender may resort for the payment of the Obligations to any other security held <br />by Lender in such order and manner as Lender, in its discretion, may elect. Lender or Trustee <br />may take action to recover the Obligations, or any pgrtion thereof, or to enforce any covenant <br />hereof without prejudice to the right of Lender or Trustee thereafter to foreclose this Security <br />Instrument. The rights of Lender or Trustee under this Security Instrument shall be separate, <br />distinct and cumulative and none shall be given effect to the exclusion of the others. No act of <br />Lender or Trustee shall be construed as an election to proceed under anyone provision herein to <br />the exclusion of any other provision. Neither Lender nor Trustee shall be limited exclusively to <br />the rights and remedies herein stated but shall be entitled to every right and remedy now or <br />hereafter afforded at law or in equity. <br /> <br />Section 8.7 RIGHT TO RELEASE ANY PORTION OF THE PROPERTY. Lender may release <br />any portion of the Property for such consideration as Lender may require without, as to the <br />remainder of the Property, in any way impairing or affecting the lien Of priority of this Security <br />Instrument, or improving the position of any subordinate lienholder with respect thereto, except <br />to the extent that the obligations hereunder shall have been reduced by the actual monetary <br />consideration, if any, received by Lender for such release, and may accept by assignment, pledge <br />or otherwise any other property in place thereof as Lender may require without being <br />accountable for so doing to any other lienholder. This Security Instrument shall continue asa <br />lien and security interest in the remaining portion ofthe Property. <br /> <br />Section 8.8 RIGHT OF ENTRY. Upon reasonable notice to Borrower, Lender and its <br />agents shall have the right to enter and inspect the Property at all reasonable times. <br /> <br />Section 8.9 BANKRUPTCY, <br /> <br />(a) Upon or at any time after the occUrrence. of an . Evcent o( Default, Lender shall <br />have the right to proceed in its own name or in the name of Borrower in respect of any claim, <br />suit, action or proceeding relating to the rejection of any .Lease, inclu~illg, without limitation, the <br />right to file and prosecute, to the exclusion of Borrower, any proofs of claim, complaints, <br /> <br />11 <br /> <br />Nebraska <br />[TPW: NYLEGAL:505604.2) 20528-00030 05/131200602:00 PM <br />
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