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<br />88-101134
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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 indirectly,
<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 of one month
<br />(b) Cancel or terminate the same, or accept any cancellation, termination or surrende, 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 m connection therewith, or with a lessee thereunder, which
<br />would have the effect of impairing the value of the lessor's interest thereunder or the property subject thereto, or of impairing the
<br />position or interest of BeneficiaI}' therein, or
<br />(/) 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 permitted
<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 purpnse 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 installation of any utility by Tmstor, pertaining to the Trust Property.
<br />19. Corporation or Partnership Existence. If Trustor is a corporation, general partnership. or limited partnership. it lvill do all things
<br />necessary to preselYe its corporate or partnership existence, as the case may be. and all nghts 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 right or remedy hereunder, or otherwise
<br />afforded by applicable law, shall 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 liens or charges by Beneficiary shall not be a wail'er of Beneficiary's right to
<br />accelerate the maturity of the Indebtedness.
<br />21. Remedies Cumulative. All remedies provided in 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 Several Uability; 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 heleof,
<br />23. Notice. Except for any notice required under applicable law to be given in ar.other manner. (a) any notice to Trustor provided for in this
<br />Deed of Trust shall be given by mailing such notice by certified mail. relum receipt requested addressed to Trustor at its mailing
<br />address set forth above or at such other address as Trustor may desigrlate by notice to BeneficiaI}' as provided herein. and (b) any
<br />notice to Beneficiary or Trustee shall be given by ce;tified mail. retum receipt requested. to Beneficiary's and Trustee's mailing
<br />address stated herein 0' to such other address as Beneficiary or Trustee may designate by notice to Trustor as provided hereill, AllY
<br />notice provided for in this Deed of Trust shall be deemed to have been given to Trustor. BeneficiaI}' or Trustee when given in the
<br />manner designated herein.
<br />24. Governing Law; Severability. This Deed of Trust shall be governed by the laws of the State of NebTaskCi. In the event any provision or
<br />clause of this Deed of Trust conflicts with applicable law. such conflict shall not affect other pro\.;saons of this Deed of Trust \vhich can
<br />be given effect without tile conflicting provisions and to this end the provisions of this Deed of TruSf are declared to be severable.
<br />25. Events of Default. Each of the following occurrences shall constitute an event of default hereunder. (here-inatter called an --El'ent
<br />of Default"):
<br />(a) Trustor shall faJIta pay when due any pnnclpal, ,nterest. or principal and Inte,eSf 00 the Indebtedness.
<br />(b) Any warranty of title made by Trustor herein shall be untrue.
<br />(c) Trustor shall fail to observe or perlorm any of the covenants. agreements. ex conditions In this Deed of Trust.
<br />(d) Any representation or warranty made by TruStOi on any financial statements ex ,epot1S submitted to Beneficiary by or on bella" of
<br />Trustor shall prove false or materially misleading,
<br />(e) Trustor shall fail to perlorm or observe any of the covenants. conditions or agreements contained in. or binding upon Trustor under
<br />any building loan ag,eement. security agreement. loan agreement. financing statement or any other agreement. instrument or
<br />document executed by Trustor in connection with the loan evidenced by the Note.
<br />(/) A trustee, receiver or liquidaro, of the Trust Property or of Trustor shaJ/ be appOinted. or any of the creditors of Trustor shall hie a
<br />petition in bankruptcy against Trustor. Oi for the reorganization of Trustor pursuant to the Federal Bankruptcy Code. 01 any Similar
<br />law, whether fede,al or state. and if such order or petition shall not be discharged or dism'ssed ,vithin thirty (30) da)'s aftet the date
<br />on which such order or petition was "'ed.
<br />(g) Trustor shall file a petition pu,suant to the Federal BiUlkruptcy Code or any SimIlar faw. fedelalor state. or If Trustor shall be
<br />adjudged a bankrupt, or be dee/a led msolvent. or shall make an asssgnment for the benef" of creditOrs. or shall admit In "'1Ilmg Its
<br />inability to pay its debts as they become due. 0' shall consent to the appomlment of a receIVer of all or any pail of the Trust P'operty.
<br />(h) Final judgment for the payment 0' money shall be rendered against Trustor and Trustor shall not discharge the same. or cause It to
<br />be discharged. within thirty (30) days after the entry thereof. or shall nol appeal thereflom or flOm the oldel. declee or process upon
<br />which or pursuant to wflich said judgment was granted, based. ex ente,ed. and secure a stay of execution pendmg such appeal.
<br />(i) Trustor shall sell or convey the Trust Property. or any part thereof. Of any mte,esllhereIn. or shall be divested of liS title. Of any Interest
<br />therein, in any manner or way. ""Iethe' voluntarily or involuntarily. ,Yithout the written consent of Beneficial}' bemg first had and
<br />obtained. or
<br />(j) 11 Trustor is a corporation or partnelshlp and more than fifty percent (50":;") of the shares or beneficial mteresls in such colporation or
<br />partnership, as the case may be. shall be t,ansfelled or conveyed. whether voluntarily ex involuntarily. \vithout the wntten consent of
<br />Beneficiary being fITst had and obtained.
<br />26. Acceleration of Debt; Foreclosure. Upon the occuITence of any Event of Defaun. or any time thereafter. BenefiCiary may. at ItS option.
<br />declare all the Indebtedness secured he,eby immediately due and payable and the same shall bear Interest at the default rate. il any.
<br />set forth in the Note, or otherwise at the Ilighest rate pennitted by law. and. iITespective of whether Beneficiary exercises said optron. It
<br />may, at its option and in 'IS sole disc,etion. without any further notice or demand to or upon Trustor. do one or mOle of the foflowing:
<br />(a) Beneficiary may ente, upon. take possession of, manage and operale the Trust Property or any part thereof: make repairs and
<br />allerations and do any acts which Beneficiary deems proper to protect the secunty the,eof. and either with or without taking
<br />possession, in its own name. sue lor or othelWise collecl and receive rents. issues and profits. mcludmg those past due and unpaId.
<br />and apply the same. less costs and expenses of operation and collection. includmg reasonable anorney fees and Beneflclary'S
<br />costs, upon the Indebtedness secured he,eby and in such order as BenefiCIary may detelmine. Upon request of BenefiCiary. Trustor
<br />shal/assemble and shall make availabla to Beneficiary any of the Trusr Property which has been 'emoved. The entering upon and
<br />taking possession of the Trust Property, the collection of any rents. Issues and profits. and the applicatIOn thereof as aforesaid. shall
<br />not cu,e or waive any delaultthe,etofore or thereafter occu,ring, or affect any notice of default or noflce of sale hereunder or
<br />invalidate any act done pursuanf to allY such notice. Notwlthstandmg Beneflciary's contmuance m possession or receipt and
<br />application of rents. Issues or profits. BenefIciary shall be entItled to exercise every nght prOl'lded lor m tillS Deed 01 Trust or by lal\!
<br />upon or after Ihe occurrence of an E~'ent of Default. IIlcludmg the light to exerCIse the power of sale Any of the actIons referred to m
<br />this paragraph may be takon by Boneficiary at such time as BenefiCia'}' may dete,mme WIthout regard 10 the adequaq' of any
<br />security fOl the Indebtedness secured 11ereby
<br />Ib) Beneficiary shall, wtfhout logard to tho adequacy of any secunty for the Indebtedness seclirea herebl' be f>/ltltfed to the
<br />appointment of Ii rocO/var by /illy COI/<1 havmg IUflsdlct,on, Without notlCO. to telke possess'on 0/ prorect and manaqe rhe TruST
<br />Property and oper/lte tho slImo afl(J collect the mnts. Issues and proMs thprp/rom -
<br />lci BenelrClII'Y may t)/lllg llllY /In/till If) ilny COUlt of competent tUflsc!/ct'on ,,, 10/fOC In~e r,..s 0(>00 of hiS! (v (>"'O'c(> a"l" 0' rh.~
<br />covenants Ilflraol
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