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<br />6 Eminent Domain. Lender IS hereby assigned all compensation, awards, damages and other payments 01 relief {herematter "Proceeds") In connection with
<br />condemnation!Jr other taking of the Property or part thereol. or for conveyance In lIeu of condemnatton.lender shall be entitled at Its option to commence. appear in and
<br />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 Of damage, In the
<br />event any portion of the Property is so taken or damaged. lender shall have the option. 'n Its sole and absolute- discretion. to apply all such Proceeds. after deducting
<br />toerefrom 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
<br />apply all such Proceeds. after such deductions, to the restoration of the Property upon such conditions as Lender may determine. Any application of Proceeds to
<br />Indebtedness shall not extend or postpone the due date of any payments under the Note. or cure any default thereunder or hereunder.
<br />
<br />7. Perform.nceby Lender. In the event of Borrower's failure toperform any of the covenents herein or make any payments required hereby. or II any act is taken or
<br />legal proceeding commenced which materially affects Lender'S interes~ In the Property. Lender may In Its own discretion. but without obligation to do so, and without notic;:e
<br />to or demand upon Borrower and wHhoui releasing Borrower from any obligation. do any act which the Borrower has agreed but fails to do and may also do any other act it
<br />deems necessary to protecl the security hereof. Borrower shall. immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums
<br />expended by lender in connection with the exercise by Lender of the ,foregoing rights, together with interest thereon at the rate provided in the Note. which shall be added to
<br />the indebtedness secured hereby. Lender shall not mcur any personal liability because of anythmg it may do or omit to do hereunder
<br />
<br />8. Events of Def.utl.. The followmg shall constitute an event of default under thiS Deed of Trust
<br />
<br />(a) Failure to pay any installment of principal or interest or any other sum secured hereby when due, or failure to pay when due any other indebtedness of
<br />Borrower to Lender;
<br />
<br />(b) A breach of or default under any proVision contained in the Note. this Deed of Trust. any document which secures the Note. and any other
<br />encumbrance upon the Property:
<br />
<br />(c) A writof execution or attachment or any similar process shall be entered against Borrower which shall become a lien on the Property or any portion
<br />thereof or interest therein;
<br />
<br />(d) There shall be filed by or against Borrower an action under any present or luture lederal. state or other statute. law or regulation relating to
<br />bankruptcy. insolvency or other relief for debtors: or there shall be appointed any trustee, receiver or liquidator of Borrower or of all or any part of the Property. or
<br />the rents, Issues or profits thereof. or Borrower shall make any general assignment for the benefit 01 creditors.
<br />
<br />(e) The sale. transfer. aSSignment. conveyance or further encumbrance of al1 or any part of or any Interest in the Property. either voluntarily or
<br />involuntarily, Without the express wfltten consent of Lender
<br />
<br />(f) If Borrower is not an individual. lhe sale. transfer. assignment, conveyance or encumbrance of more than _ percent of (If a corporation) its
<br />
<br />issued and outstanding stock or (il a partnership) ~_ percent of partnership mterests
<br />
<br />9. Remeetlesi Acceler.Uon Upon Def.ull. In the event of any Event of Default Lender may declare all mdebtedness secured hereby to be due and payable and the
<br />same shall thereupon become due and payable without any presentment. demand. protest or notice of any kind. Thereafter lend':!r may:
<br />
<br />(a) Demand that Trustee exerCise the POWER OF SALE granted herem. and Trustee shall thereafter cause Borrowers interest in the Property to be sold
<br />and the proceeds to be distributed, all in the manner prOVided In the Nebraska Trust Deeds Act:
<br />
<br />(b) Either 10 person or by agent. With or Without bnnglng any action or proceeding or by a receiver appointed by a court and without regard to the
<br />adequacy of its secunty. enter upon and take possession of the Propert)". or any part thereof. In liS own name or In the name 01 the Trustee. and do any acts which
<br />It deems necessary or deSIrable to pre!lierve the value. marketabIlity or rentability of the Property. Of part thereof or mterest therein. IOcrease the income
<br />therefrom or protect the secuflty hereof and. With or Without taking possession olthe Property, sue for or otherWise collect the rents. issues and profits thereof.
<br />Includmg those past due and unpaid. and apply the same. less costs and expenses 01 operatl('ln and collechon mcludlOg attornays' fees, upon any indebtedness
<br />secured hereby. all in such order as Lender may determine The entering upon and takmg POsseSSlQn of the Property. the collection of such rents. Issues and
<br />profits and '.f,e application thereof as aforesaid, shall not cure or wal...e any default o.notlce of default hereunder or In\'ahdate any act done in response tosuch
<br />default 0" pursuant to such notice of default and, notWithstanding the continuance 10 possession 01 the Properly or the collection. receipt and application of
<br />reni5, Issues or profits. Trustee Of Lender shall be entltleCl to exerCise e,,'ery fight prolilded for In any of the Loan Instruments or by law upon occurence of any
<br />event of default. including the rlghl to exerCise the power 0' sale and
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<br />te) Commence an actton to foreclose thiS Deea ot Trust as a mortgage apPolnl a recel\'er. or specllically enforce any 01 the covenants hereol;
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<br />No remedy herein conferred upon or reserved to Trustee or Lender IS iolended to be excluSive of any other remedy herein or by law pro\'ided or permitted. but each shall be
<br />cumulative, shall be in addition to e...ery other remedy gl~en hereunder or now or hereafter e_lstlO9 at law or 10 eqUIty or by statute. and ma}' be e..ercisec' concurrently.
<br />independently or success1\'ely
<br />
<br />10. Trult... The Trustee may resign at any time "ilthout cause and Lender may at any time and Without cause appomt a successor or substitute Trustee, Trustee
<br />shall nol be liable for any loss or damage unless due to ar.1!Onable nl:>ghgif'nce or wllllul mIsconduct and Shall not be reQulfed to take any actIon in connection with the
<br />enforcement of this Deed at Trust unless mdemnlfled. 10 'o\'fltlO9, for all (OS15, compensatIon Of eJl.penses which mal be assOCIated thereWith In addition. Trustee may
<br />become a purchaser at any sale of the Property tJudlCrlil or under the power ot sale ~ranted tler{>lO! pO'5tpone- the sale 01 all or any portIOn 01 the- property. as prOVided by law;
<br />or sell the Property as a whole. or In separate parce!s 01 lots
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<br />11 Future My.neel. Upon request of Bouo....er Leno('r may. allls option make ad<lItlonal and future advances and leadvances to Borrower Such advances and
<br />readvances. with Inleresl thereon. shall be secured by thiS Oeed 01 T rust At no lime shall the pflnClpal amount 01 the Indebtedness secured by thiS Deed of TrU5t. not in-
<br />
<br />cluding sums advanced to pfOtcct the secufltyof thiS Deed 0' Tlust. exceed ttle offglOal pflnClpal amount stated tlereln. or S,.J lLQ26 IL 00 . whichever is
<br />greater
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<br />12 Mltcel".......s Provlllons.
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<br />tal Borrower Nol R.....Md. E.tenSlon of ~h{> lim€, 'or payment or modIfication of amortlzallon Of the sums secured by thiS Deed of Trust granted by
<br />Lender to any successor In mterest of BOffOW~1 ~hall not operate to !elease. In an." manner. the liability of the onglnal Borrower and Borrowers successors 10
<br />Interest Lender shaH not be reQuueo to commence proceedings agalOst such successor or refuse to extend tIme for pa,,'ment or otherwise modIfy amortization
<br />of the sums secured by this Deed of Trust by rpaSOrl 01 any demands made by tile Qugmal BOHower and Borrowers successors 10 Interest
<br />
<br />(bl Lenders Powers. WIthout altecttng the liabIlity of any ctne, person liable tor the payment of any obhgatlon herem mentioned. and Without affecting
<br />the hen or charge of thiS Deed of T ruM upon any POttIOl) of the Property not then or theretofore released as secuflty tor U\e full an. :";;..,,...t of all unpaid obligations,
<br />Lender may. tram lime to time and Without "'ollce (I) relE."aseany person so hable, tll) eJttend the matuflty or alter any of the termsol any such obllgations.tlii)
<br />grant other indulgences, (IV) release or feCOn\'ey, or cause to be released or feconveyed .11 any time at Lender.sophons any parcel. portion or aU of the Property.
<br />(v) take or release any other or additional securlly for any obligatIOn herem mentioned, or (\'1) mak.e COmpoSltl('lnsor other arrangements with debtors in relation
<br />thereto
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<br />(c) Forbe.r.nce by Lender Not. W.i.er. Any forbearance by Lender In exerCIsing any flghl or remedy tlereunder. or othelv,;isc afforded by applicable
<br />law, shall not bea waiver of or preclude the exercise of any such right or remed~' The procurement ot Insurance-or the payment 01 taxes or other liens or charges
<br />by lender shall nOI be a waiver ot Lender's Ugtit to accelerate the matuuty 01 the Indebtedness secured by Ihls Oe-ed of Trust
<br />
<br />(4) SUCCHlon.nd AssIgn. Bound; Joinl.nd Sewe-r.ll"bility; C.ptlons. The co\.enants and agreement5- herem contamed shall bmd, and the fights
<br />hereunder shalllOure to. the respectIve successors and aSSigns 01 Lender and Borro....-er. subject to t.ne prO\'ISions of paragraph 8 (e) hereof All covenants and
<br />agreements of BOffowershall be JOint and se\.eral The captlon5 and headmgs of the paragraphs of thiS Deed 01 Trust are for convenience only and are not to be
<br />used to interpret or defme the prO\'ISlons hereof
<br />
<br />(e) AeqMSt'or Nolic... The parties hereby request tha' a C.op)' ot a"y nollce of default hereunder and a copy of any notice 0' sale-hele-under be mailed to
<br />each party tothls Deed of Trust at Iheaddress set tmth atw."e 10 1tle manner oreSOlbed by applicable law Except for any other notice reqUired under applicable
<br />law to be given in another manner. any flotlce PfO\'l(jed 'Of !n ,hiS Deect 0' Trus1 shaH be g,\.en by maIling such nolice by certllled mall addressed to the o'her
<br />parties. at the address set forth abo..'e
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<br />Any notice prOVided tor m this Deed Of TruS1 shall be d~me<1to ha...e b~n gl'll.en to Borrower or Lender when gl\'en 10 the manner deSignated herein
<br />
<br />(f) In.pection.lender may make or cause to be made reasonable entfles upo~ and mspectlons 01 the Propert). prOVided that Lender shall give Borrowe'
<br />notice prior to any such Inspeclion speclfymg rE."3sonablC caU$e there-tor reliUed to Lende(s mtelest 10 the Propefly
<br />
<br />(g) RKon"'r.ne.~ Upon payment of all sums secured by Ihls Deed Of Trust. Lender shall request Trustee to recon\'ey the Property and shaH surrender
<br />thiS Deed of TruSl and all notes ewoldenctng mdebtedness securiP<1 by H'IIS Dt"'E"<1 ot Trust 10 Truste-e. Trustee shall reCOO'o'e.,. the Property ......,thout.....allanty and
<br />WIthout Charge to the person or persons legally entlHed thereto Such person 0' ~rsons shan pay all costs of recordation If any
<br />
<br />(h) Person.1 Property. Security Agreement. As addItional sccvrtty 'Dr thE' payment ot the I Jote all fo.,tures. eQUIpment. and ether personal propert}' used
<br />to connection With the real eslateol If"provements located thereon and not other.....lse declared or deemed to be a part 01 the real estate secured hereby. shall be
<br />subject to a secunty it\terest 10 fa-.'or of the Leneser undp-r the Nebraska Uniform CommerCial Code ThiS Instrum~nt shall b-econstrued asa Security Agreement
<br />under said Code. and the lender shall have aU the ughts and remedIes 0' a secured party under said Code In addItion to the flghts and remedies created under
<br />and accorded the Lender pursuant 10 thiS Deed of TruSl
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<br />(f) s.r..reblity'..n the event thai any prOYlSIOO ot thIS need of 1 rust confh.ct ""Ith apphcablelaw Of are declared tnwoaltd Qr otherWise unenforceable. such
<br />conlhet or Invalidity shall not affect the other pro....I$IO"S at thIS Deed of Trust or toe Note .....h,ch can be gl'ven etfec.t Without the confllcllng pro,...Slon, and to thiS
<br />end Ihe proviSions ot the Deed of Trust and the NotE" are declared to be severable
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<br />BorrONer has executed thiS Dep.d of Trust the date 'Antten above
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