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<br />88- 102035
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<br />Beneficiary, mailed to Trustor and Recorded in the County in wt\ich
<br />the Trust Estate is located and by otherwise complying with the pro-
<br />visions of the applicable law of the State of Nebraska substitute
<br />a successor or successors to the Trustee named herein or acting
<br />hereunder.
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<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to,
<br />inures to the benefit of and binds all parties hereto, their heirs,
<br />legatees, devisees, personal representatives, successors and assigns.
<br />The term "Beneficiaryll shall mean the owner and holder of the Note,
<br />whether or not named as Beneficiary herein.
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<br />8. INSPECTIONS. Beneficiary, or its agents, representatives
<br />or workmen, are authorized to enter at any reasonable time upon or
<br />in any part of the Truste Estate for the purpose of inspecting the
<br />same and for the purpose of performing any of the acts it is author-
<br />ized to perform under the terms of any of the Loan Instruments.
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<br />9. EVENTS OF DEFAULT. .Any of the follmo1ing events shall be
<br />deemed an event of deafult hereunder:
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<br />(a) Trustor shall have failed to make payment of any install-
<br />ment of interest, principal, or principal and interest or any other
<br />sum secured hereby when due; or,
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<br />(b) There has .occurred a breach of default under any term,
<br />covenant, agreement, condition, provision, representation, or war-
<br />ranty contained in any of the Loan Instruments.
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<br />10.' ACCELERATION UPON DEFUALT, ADDITIONAL REMEDIES. Should an
<br />event of default .occu~Beneficiary may declare all indebtedness
<br />secured hereby to be due and payable, and the :?ame shall thereupon
<br />become due and payable without any presentment, demand protest or
<br />notice of any kinds. -Thereafter the Beneficiary may:
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<br />(i) Either in person or by agent with or without bringing
<br />any.action or proceeding, or by a receiver appointed by a Court
<br />and without regard to the adequacy of its security, enter upon and
<br />take possession of the Trust Estate, or any part thereof, in its
<br />own name or in the name of Trustee, and do any acts which it deems
<br />necessary or desirable to preserve the value, marketability or
<br />rentability of the Trust Estate, or part thereof or interest therein,
<br />increase the income therefrom or portect the security hereof and,
<br />with or without taking possession of the Trust Estate, sue for or
<br />otherwise collect the rents, issues and profits thereof, including
<br />those past due and unpaid, and apply the same, less costs and ex~
<br />penses of operation and collection including attorney's fees, upon
<br />any indebtedness secured hereby, all in such order as Beneficiary
<br />may detcrmin. .The entering upon and taking possession of the Trust
<br />Estate, the collection of such rents, issues and profits and the
<br />application thereof as aforesaid, shall not cure or waive any default
<br />or notice of default hereunder or invalidate any act done in response
<br />to such default or pursuant to such notice of default and, not\'1ith-
<br />standing the continuance in 'possession of the Trust Estate or the col-
<br />lection, receipt and application of rents, issue3 or profits, Trustee
<br />or Beneficiary shall be entitled to exercise every right provided
<br />for in any of the Loan Instruments or by law upon occurrence of any
<br />event of default, including the right to exercise the power of sale;
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<br />(ii) Coinmence an ,action to foreclose thl s Deed of 1'rus t a s a
<br />mortgage, appoint a receiver, or specifically enforce any of tile
<br />covenants hereof;
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<br />(iii) Deliver to Trustee a written declaration of default and
<br />demand for sale, and a written notice of default and electi.on to
<br />cause Trustor's interest in the Trust Estate to be sold, which not~
<br />ice Trustee shall cause to be duly filed for record in the appropri~
<br />ate Official Records of the County ill which the Trust Estate is 10-
<br />cnted,
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