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200701246 condemnation. Lender shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings, and shall also be entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion ofthe Property is so taken or damaged, Lender shall have the option, in its sole and absolute discretion, to apply all such Proceeds, after deducting therefrom all costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness secured hereby and in such order as Lender may determine, or to apply all such Proceeds, after such deductions, to the restoration of the Property upon such conditions as Lender may detennine. Any application of Proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. Any unapplied funds shall be paid to Trustor. 8. Performance of Lender. Upon the occurrence of an Event of Default hereunder, or if any act is taken or legal proceeding commenced which materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation to do so, and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor has agreed but fails to do and may also do any other act it deems necessary to protect the security hereof. Trustor shall, immediately upon demand there for by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by Lender of the foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be added to the indebtedness secured hereby. Lender shall not incur any liability because of anything it may do or omit to do hereunder. 9. Hazardous Materials. Trustor shall keep the Property in compliance with all applicable laws, ordinances, and regulations relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws"). Trustor shall keep the Property fee from all substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein as "Hazardous Materials"). Trustor hereby warrants and represents to Lender that there are no Hazardous Materials on or under the Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees and agents and any successors to Lender's interest, from and against any and all claims, damages, losses, and liabilities arising in connection with presence, use, disposal, or transport of any Hazard Materials on, under, from or about the Property. THE FOREGOING WARRANTIES AND REPRESNTATTONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALLSURVlVE RECONVEYANCE OF THIS DEED OF TRUST. 10. Assignment of Rents. Trustor hereby assigns to Lender the rents, issues and profits of the Property; provided that Tmstor shall, until the occurrence of an Event of Default hereunder, have the right to collect and retain such rents, issues and profits as they become due and payable. Upon the occurrence of an Event of Default, Lender may, either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its own name or in the name ofthe Tmstee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of the Property, or any part thereof or interest therein, increase the income therefrom or protect the security hereof and, with or without taking possession of the Property, sue for or otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection including attorneys' fees, upon any indebtedness secured hereby, all in such order as Lender may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done in response to such default or pursuant to such notice of default and, notwithstanding the continuance in possession of the Property or the collection, receipt and application of rents, issues or profits, and Trustee and Lender shall be entitled to exercise every right provided for in any of the Loan Instruments or by law upon occurrence of any Event of Default, including without limitation the right to exercise the power of sale. Further, Lender's rights and remedies under this paragraph shall be cumulative with, and in no way a limitation on, Lender's rights and remedies under any assignment ofleases and rents recorded against the Property. Lender, Tmstee and the receiver shall be liable to account only for those rents actually received. 11. Events of Default. The following shall constitute an Event of Default under this Deed of Tmst: (a) Failure to pay any installment or principal or interest of any other sum secured hereby when due; (b) A breach of default under any provision contained in the Note, this Deed of Trust, any of the Loan Instruments, or any other lien or encumbrance upon the Property; (c) A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a lien on the Property or any portion thereof or interest the:rein; (d) There shall be filed by or against Trustor or Borrower an action under any present or future federal, state, or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shall be appointed any tmstee, receiver or 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 shall make any general assignment for the benefit of creditors; (e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or any part of or any interest in the Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be permitted to execute a lease ofthe Property that does not contain an option to purchase and the term of which does not exceed one year; (I) Abandonment of the Property; or (g) If Trustor is not an individual, the issuance, sale, transfer, assignment, conveyance, or encumbrance of more than a total of percent of (if a corporation) its issued and outstanding stock or (if a partnership) a total of __ percent of partnership interests during the period this Deed of Trust remains a lien on the Property. 12. Remedies: Acceleration Upon Default. In the event of any Event of Default, Lender may without notice except as required by law, declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable without any presentment, demand, protest, or notice of any kind. Thereafter Lender may: (a) Demand that Trustee exercise tlle POWER OF SALE granted herein, and Trustee shall thereafter cause Tmstor's interest in the Property to be sold and the proceeds to be distributed, all in the manner provided in the Nebraska Trust Deeds Act;