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r ~ ..~ . ... Q ,'0 r 00 ClO y i ! i J \ i ~~ ! .l ~ \: l I~'.!...,..., i 6. Eminent Damlln. Lender 15 hereby assigned all compensation, awards. damages and other payments or relief (horemaller "Proceeds") In connection with condemnation or other taking of the Property or part thereof. or for conveyance in lieu of condemnation. Lender shall be e~tilled at its option to commence, appear in and prosecute in its own name any aelion or proceedings, and shall also be entitled to make any compromise or settlement In connection with such talc.ing or damage. In the event any portion of the Property is 50 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, orto 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 indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any defaullthereunder or hereunder. 7, Performsnceby Lender. In the event of Borrower's failure to perform any of the covenents herein or make any payments required hereby. aril 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 todoso. and without notice to or demand upon Borrower and without 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 deems necessary to protect the security hereof. Borrower shall, immediately upon demand therefor by Lender. pay to Lender all costs and expenses incurred and sums expenged 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 the indebtedness secured hereby. Lender shall not incu=- any personal liability because of anything it may do or omit to do hereunder. 8. Event. of Default. The following shall constitute an event of default under this Deed of Trust: (a) Failure to pay any installment of principal or interest or any other sum secured hereby when due. orfaHure to pay when due any otherindebtedness of Borrower to Lender; (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 encumbrance upon the Property; (c) A writ of execution or attachment or any similar process shall be entered against Borrowerwhich shall become a lien on the Property or any portion thereof or interest therein: (d) There shall be filed by or against Borrower an action under any present or future federal. state or other statute, law or regulation relating 10 bankruptcy. insolvency or other relief for debtors; or there shall be appointed any trustee, receiver or liquidator of Borrower or of all or any. pa(t of the Property, or - the rents. issues or profits thereof. or Borrower shall make any general assignment for the benefit of creditors. - (e) The sale. tra~~J~r. assignment. conveYifnce (Jr 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. (f) If Borrower is not an individual. the sale. transfer. assignment. conveyance or encumbrance of more than _ percent of (it a corporation) its issued and outstanding stock or (if a partnership) ~_ percent of partnership interests. 9_ Remedle'j Acceleration Upon Default. In the event of any Event of Default Lender may 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 the POWER OF SALE granted herein. and Trustee shall thereafter cause Borrower'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 (b) 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 of the Trustee. and do any acts which it deems necessary or desirable to preserve the value. marketability or rentability of the Property. or 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. shan 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. Trustee or Lender shall be entitled to exercise every right provided for In any of the Loan Inslruments or by law upon occurence of any event of default. including the right to exer(:lse the power of sale: and (c) Commence an action to foreclose this Deed of Trust as a mortgage. appoint a receiver. or specifically enforce any of the covenants hereof: No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclUSive of any other remedy herem or by law provided or permitted. but each shall be cumulative. shall be in addition to every other remedy given hereunder or now or hereafter eXisting at law or in equity or by statute. and may be exercised concurrently, independently or 5uccessively_ 10_ Trult... The Trustee may resign at any time Without cause _ and Lender may at any time and without cause appomt a successor or substitute Trustee. Trustee shall not be liable for any loss or damage unless due to actionable negligence or Willful misconduct. and shall not be reqUIred to take any action in connection with the enforcement of this Deed of Trust unless indemnified. In wrltlOg. lor an costs. compensation or expenses which may be as~oclated therewith. In addition. Trustee may become a purchaser at any sale of the Property budiclal or under the power of sale granted herein): postpone the sale of all or any portion of the property. as provided by law: or sell the Property as a whole. or in separate parcels or lots 11. Fulure Ad..nce.. Upon request of Borrower . lender may. at Its optIOn make additIonal and future advances and readvances to Borrower. Such advances and readvances. with interest thereon. shall be secured by thiS Deed of Trust At no lime shall the principal amount of the Indebtedness secured by this Deed of Trust. not in~ cluding sums advanced to protect the security of this Deed of Trust. exceed the oogmal prmcipal amount stated herein. or sA..JB~. R 1 . whichever is greater. 12, MllCellaneou. Prowfalon.. (a) Borrowe, Not Rete.Md. Extension of the time for payment or modification of amortIzation of the sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release. In any manner. the liability of the origmal Borro.....er and Borrower's successors to interest. Lender shall not be required to commence proceedings against such successor or refuse to extend tIme for payment or other.....ise modify amortizatIOn of the sums secured by this Deed of Trust by reason of any demands made by the ongmal Borrower and Borrower"s successors in interest. (b) l.nder"a PO..fI. Without affecting the liability of any other person liable for the payment of any obligation herem mentioned. and Without alfechng ihe lien or charge of this Deed of Trust upon any portion of the Property not then or theretofore released as security for the full amount of all unpaid obligations. Lender may. from time to time and without notice (i) release any person so hable. (il) extend the maturity or alter any of the terms of any suctl obligations. (illl grani other indulgences. (iv) release or reconvey. or cause to be released or reconveyed at any time at lender's options any parcel. portion or all of the Property. (v) take or release any other or additional security for any obligation herein mentioned. or {vil make composillons or other arrangements with debtors 10 relation thereto. (c) Forbearance b, Lender Not. W....r. Any forbearance by lender in exercising any right or remedy hereunder. or otherwise afforded by applicable law. shall not bea waiver of or preclude the exercise of any such right or remedy_1:he procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Deed of Trusi (d) Succ..aora and Allign. Bound; Joint and Sewer.llilbiUty; Captions. The covenants and agreements herem contained shall bmd. and the nohts hereunder shaH inure to. the respective successors and assigns of Lender and Borrower. SUbJect to Ihe OroVISIOIlS of paragraph 8 (el hereof All covenants and agreements 01 Borrower shall be joint and several. The caplions and headings of the paragraphs of this Deed of Trust are for conveOlence only and are not to be used to interpret or define the provisions hereof. (e) Aequotfor Notlc... The parties hereby request that a copy of any nollce of default hereunder and a copy of any notice of sale hereunder be mailed to each party to this Deed of Trust at the address set forth above in the manner prescribed by applicable law. Except for any other notice required under applicable law to be given in another manner. any notice provided for in this Deed of Trust shall be given by mailing such notice by certified mail addressed to the other parties. at the address set forth above. Any rlotice provided for in this Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. (f) InapecUon. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided that lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. (9) Reconvey.ne.. Upon payment of all sums secured by this Deed of Trust. Lender shall request Trustee to reconvey the Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by thiS Deed of Trust to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled thereto. Suc.h person or persons shall pay all cosls of recordatIOn. II any (h) PerlOn.' Property. Security Agreement. Asadditional security for the payment of the Note all fixtures. equipment. and other personal property used in connection with the real estate or improvements located thereon. and not otherWise declared or deemed to be a part 01 the real estate secured hereby, shall be subject to a security interest in favor of the Lf'nder undE"J the Nebraska Uniform Commercial Code. ThiS instrumt!nt shall be construed as a Security Agreement under said Code. and the Lender shall have all tha rights and remedies of a secured party under said Code in addition to the fights and remedies created under and accorded the Lender pursuant to this Deed of Trust (i) ~.......,. In the event that any proVision of this Deedof Trust conflict With applicable law or are declared anvalld or otherWise unenforceable, such conflict or invalidity shall not affect the other prOVisions of this Deed of Trust or the Note which can be given effecl Without the conflicting prOVision. and to thiS end the provisions of the Deed of Trust and the Note are declared to be severable. .-, Borrower has executed this Deed of Trust the date Written above, I / ,'Uf./r7li~ (Ralph \~. 'Eat.on, married ,----- Borrower A S:XN~P'<X person) Bar rower ( ~ ~ f' 4 ~ '1