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<br />16, Covenants of Trustor with Respect to Leases, Without the prior written consent of Beneficiary. Trustor shall not. directly or mdirectly.
<br />with respect to any lease of space in the Trust Property, or any portion thereof. whether such lease is now or hereafter in existence:
<br />(a) Accept or permit any prepayment. discount or advance payment of rent hereunder in excess alone month.
<br />(b) Cancel or terminate the same. or accept any cancellation. termination or surrender thereof. or permit any event to occur which would
<br />occur thereunder to terminate or cancel the same, other than termination for nonpayment of rent.
<br />(c) Amend or modify the same so as to reduce the term thereof. the rental payable thereunder. or to change any renewal provisions
<br />therein contained,
<br />(d) Waive any default thereunder or breach thereof,
<br />(e) Give any consent, waiver or approval thereunder or take any other action in connection therewith. or with a lessee thereunder, which
<br />would have the eff8{;t of impairing the value of the lessor's interest thereunder or the property subj8{;t thereto. or of impairing the
<br />position or interest of Beneficiary therein. or
<br />(f) Sell, assign, pledge, mortgage or otherwise dispose of. or encumber its interest in any said lease or any rents, issues. profits issuing
<br />or arising thereunder,
<br />17. Waiver of Statute of Umitations, Time is of the essence in all of Trustor's obligations and duties hereunder; and to the extent permil/ed
<br />by law, Trustor waives all present or future statutes of limitations with respect to any debt. demand or obligation secured hereby and
<br />any action or proceeding for the purpose of enforcing this Deed of Trust or any rights or remedies contained herein,
<br />18 Assignment of Deposits. In the event construction of improvements is contemplated by the loan evidenced by the Note secured
<br />hereby, as additional security therefore, Trustor hereby transfers and assigns to Beneficiary, all right, title and interest to any and all
<br />monies deposited by or on behalf of Trustor with any city. county. public body or agency, sanitary district. utility company, and
<br />any other body or agency, for the installation or to secure the mstallation of any utility by Trustor, pertaining to the Trust Property.
<br />19. Corporation or Partnership Existence, If Trustor is a corporation. general partnership, or limited partnership, it will do all thmgs
<br />necessary to preselVe its corporate or partnership existence, as the case may be, and all rights and privileges under the laws of the
<br />state of its incorporation or organization.
<br />20, Forbearance by Beneficiary Not a Waiver, Any forbearance by Beneficiary in exercising any nght or remedy hereunder, or otherwise
<br />afforded by applicable faw, shaff not be a waiver of or preclude the exercise of any such tight or remedy, The procurement of
<br />insurance or the payment of taxes or the discharge of tiens or charges by Beneficiary shall not be a waiver of Beneficiary's nght to
<br />accelerate the maturity of the Indebtedness,
<br />21, Remedies Cumulative, All remedies proVided m thiS Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Deed of Trust or afforded by law or equity. and may be exerCised concurrently. independently or successively,
<br />22. Successors and Assigns Bound; Joint and Severat UabJllty: CaptIOns, The covenants and agreements herein contained shall bind, and
<br />the rights hereunder shall inure to, the respective successors and assigns of Beneficiary. Trustee. and Trustor, All covenants and
<br />agreements of Trustor shall be joint and several, The captions and headings of the paragraphs of this Deed of Trust are for
<br />convenience only and are not to be used to interpret or define the provisions hereof.
<br />23. Notice, Except for any notice required under applicable law to be given in another manner. (a) any notice to Trustor provided for in this
<br />Deed of Trust shall be given by mailing such notIce by certified mail. return r8{;eipt requested addressed to Trustor at its mailing
<br />address set forth above or at such other address as Trustor may designate by notice to Beneficiary as prol.ided herein, and (b) any
<br />notice to Beneficiary or Trustee shall be given by certitied mail, return receipt requested. to Beneficiary's and Trustee's mailing
<br />address stated herein or to such other address as BenefiCiary or Trustee ma)' designate by notice to Trustor as provided herein, Any
<br />notice provided for in this Deed of Trust sha/l be deemed to have been given to Trustor, Beneficiary or Trustee when given in the
<br />manner designated herein.
<br />24, Governing Law; SeverabJlity, ThIS Deed of Trust shall be governed by the laws of the State of Nebraska. fn the event any proviSion or
<br />clause of this Deed of Trust conflicts with applicable law, such conflict sha/l not aff8{;t other provisions of this Deed of Trust which can
<br />be given effect without the conflicting provisions and to this end the prov/Slons of thiS Deed of Trust are d8{;lared to be severable.
<br />25, Events of Defaull. Each of the fo/lowing occurrences shall constitute an event of default hereunder, (hereinafter ca/led an "Event
<br />of Default"):
<br />(a) Trustor shall fail to pay when due any pnnClpal, mte/est. or pnncipal and interest on the Indebtedness,
<br />(b) Any warranty of title made by Trustor herein shall be untrue.
<br />(c) Trustor shall fail to observe or perform any of the covenants, agreements, or cond,tions in this Deed of Trust,
<br />(d) Any representation or warranty made by Trustor on any financial statements or reports submil/ed to Beneficiary by or on behalf of
<br />Trustor shall prove false or materiatly mIsleading,
<br />(e) Trustor shall fait to perform or obselVe any of the covenants. conditions or agreements contained in, or binding upon Trustor under
<br />any building loan agreement, S8{;urity agreement. loan agreement, financing statement. or any other agreement, instrument or
<br />document eX8{;uted by Trustor in connectIon with the loan evidenced by the Note.
<br />(f) A trustee. r8{;eiver or liqUIdator of the Trust Property or of Trustor shall be appornted. or any of the creditors of Trustor shall file a
<br />petition in bankruptcy against Trustor. or for the reorgamzallOn of Trustor pursuant to the Federal Bankruptcy Code, or any similar
<br />law. w/lether federal or state. and if such order or petitIon shall not be discharged or dismissed within thirty (30) days after the date
<br />on which such order or petition was Med.
<br />(g) Trustor shall fife a petItion pursuant to the Federal Bankruptcy Code or any SImIlar law. federal or state. or if Trustor shall be
<br />adjudged a bankrupt, or be d8{;lared msoJvent. or shall make an aSSIgnment for the benefit of creditors, or shall admit in writing its
<br />inability to pay its debts as they become due. or shall consent to the appomtment of a receIVer of all or any part of the Trust Properr.,'.
<br />(h) Final judgment for the payment of money shall be rendered against Trustor and Trustor shall not discharge the same, or cause it to
<br />be discharged. within thirty (30) days afte' the entry thereof, or shall not appeal therefrom or from the order, decree or process upon
<br />which or pursuant to which said judgment was granted. based, or entered. and S8{;ure a stay of eX8{;ution pending such appeal.
<br />(i) Trustor shall sell or convey the Trust Property, or any part thereof, or any 'nterest therem. or shall be divested of ItS title. or any interest
<br />therein, in any manner or way, whether votuntanly or involuntarily. Without the wntten consent of Benefic,ary being fIrst had and
<br />obtained, or
<br />(j) If Trustor is a corporation or partnershIp and more than tifty percentl5O"c} 01 the shares or benefICial mterests m such corporation or
<br />partnership, as the case may be, shall be transferred or conveyed, whether vOluntanl)' or mvoluntarlly, Without the written consent of
<br />Beneficiary being first had and obtamed
<br />26, Acceleration of Debt: ForeclosUle Upon the occurrence 01 any Event of Delault, or an)' tll1m therealter, Benef'clary may. at Its optIon,
<br />declare all the Indebtedness secured hereb"mmediately due and payabfe and the same shall bear Interest at the default rate, If any.
<br />set forth in the Note, or otherwise at the highest rate permil/ed by law. and, irrespectIve of whether Beneflc'ary exercises sBld optIon. It
<br />may, at its option and in ils sole discretion. without any further noltce or demand to or upon Trustor, do one or more of the following:
<br />(a) Beneficiary may enter upon. take possessIOn of, manage and operate the Trust Property or any part therea/: make repa/{s and
<br />alterations and do any acts which BenefICiary deems proper to protect the SecUflty thereof. and 8/ll1er WIth or Witt/out takmg
<br />possession, in its own name, sue for or otherwise collect and receive rents, issues and prollts. mcludmg those past due and unpaId.
<br />and appfy the same, less costs and expenses of operation and collection, mcluding reasonable allomey fees and Beneflcl8ry's
<br />costs, upon the Indebtedness secured hereby and m such order as BenefICiary may determme Upon request 01 Beneflclar}'. Trustor
<br />shall assemble and shall make avaIlable to Beneflc'ary any of the Trust Property which has been removed, The entermg upon and
<br />taking possession of Ihe Trust Property. the collection of any rents, issues and proftts, and the appltcatlon tllereol as aforesatd, sllal/
<br />not cure or waive any default theretofore or Ihereafter occumng. Of affect any notIce of default 0' Ilotlce of sale "ereUllder or
<br />invalidate any act done pursuant to any such notIce Notwithstandmg BenefiCIary's contmuance /{, possessloll or receipt alld
<br />application of rents, issues or p'oftts. BeneftclBry sllall be enll/led to exerCise every "gllt p,ovlded lor III /IllS Dpe(1 of Trust or bl' lal\'
<br />upon or aher the occurrence of an Evof1t 01 Delault, /{Icludmg the "ghl to exorcise the power 01 sale AIlI' 01 If'!, actIons rplp"p,1 to III
<br />thiS paragraph may Ilo taken tJY Benollclary at such tllllO as BonellClilry may detormme WIt/lout rey,,,n to /1,(> d(1t'(]UilC\' 01 dllY
<br />secunty lor the Indebtedness secuwd Ilembv
<br />Ibi BenoflClRry shall, WIthout rogard 10 tno adOrjUilcy 01 any secu"ly lor /fIe Indeblpdllpss secu'e(1 !l("l'I'I' /It, ,'lIIIIh'a '" lilt'
<br />appomtrnont of a rOCOfVO! by arw court "(fv"mg ItJffSdl-ctlOfJ. Without notice. to taJH~ f)OS~P$SIOI1 Of l',prf~l.'~ tl'1d .'Han.lll() 111t1 ! 'u~f
<br />Property an(1 OPOlilto Iho samp ana ('ollOCl 'hI) ff)fl(s, Issues ,/fI(J proltls /I,nf(Jlrom
<br />:ct lJofJof'Cf<1fl' may l)'lfHl an)/ actIOn ff) ."ty court of CotJ'/HJrunt ItJflS(/lcflon fa '(lff)(~_I(I_"fl "JI.... (1fl(}f1 :~, ";;"~ :1' ,'nfn.'Cfl dn~ \\f ~'ll'
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