|
<br />88- 102315
<br />
<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 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 modlly 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 "ons!;!!!, waiver or approval thereunder or take any other action In connection therewith, or with a lessee thereunder, which
<br />would havelf/8,@f!Ilctoflmpairing!he value of the lessor's interest thereunder or the property subject thereto. or of Impairing the
<br />position or interest of Beneficiary therein, or
<br />(I) Sell, asslgn.R!'!.dge, mortgage or otherwise dispose of. or encumber its interest in any said tease or any rents, issues, profits issuing
<br />or arising thereundjJr.'~-""""""
<br />17. Waiver of Statute of Umitatlons. Time Is of the essence in all of Trustor's obllgall' ;;3 aN:' duties hereunder; and to the eJCtent permitted
<br />by law, Trustor waives all present or future statutes of limitations with respect to ".... deiJr, 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 installation of any utility by Trustor, pertaining to the Tn'st Property.
<br />19. Corporaticn or Pannership Existence. If Trustor is a corporation. general partnership, or limited partnership. it will do all things
<br />necessary to preserve 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 right or remedy hereunder. or otherwise
<br />afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right 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 waiver 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. Alt 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 malling such notice by certified mail. return receipt 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 provided he18ln, and (b) any
<br />notice to Beneficiary or Trustee shall be given by certified mail. return receipt requested, to Beneficiary's and Trustee's mailing
<br />address stated herein or to such other address as Beneficiary or Trustee may designate by notice to Trustor as provided herein. Any
<br />nolice provided for in this Deed of Trust shall be deemed to have been gIVen to Trustor, Beneficiary 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 Stete of Nebraska. In tha event any provision or
<br />clause of this Deed of Trust conflicts with applicable law. such conflict shall not affect other provisions of this Deed of Trust which can
<br />be given effect without the conflicting provisions and to this end the provisions of this Deed of Trust are declared to be sevelable.
<br />25, Events of Default. Each of the following occurrences shall constitute an event of default hereunder. (hereinafter called an "Event
<br />of Default");
<br />(a) Trustor shall fail to pay when due any principal. interest, or prinCIpal 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 conditions In this Deed of Trust,
<br />(d) Any representation or warranty mada by Trustor on any financial statements or reports submitted to Beneficiary by or on behalf 01
<br />Trustor shall prove false or materially misleading.
<br />(e) Trustor shall fail to perform or observe any of the covenants, conditions or agreements contained in, or binding upon Trustor under
<br />any building loan agreement, security agreement, loan agreement. financing statemant. or any other agreement. instrument or
<br />document executed by Trustor In connection with the loan evidenced by the Note,
<br />(f) A trustee. receiver or liquidator of the Trust Property or of Trustor shall be appointed, or any of the creditors of Trustor shall file a
<br />petition in bankruptcy against Trustor. or for the reorganization of Trustor pursuant to the Federal Bankruptcy Code. or any similar
<br />law, whether federal or state, and if such order or petil/on shall not be discharged or dismissed within thirty (30) days after the date
<br />on which such order or petition was filed.
<br />(g) Trustor shall file a petition pursuant to the Federal Bankruptcy Code or any similar law. federal or state, or if Trustor shall be
<br />edJudged a bankrupt, or be declared insolvent, 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 dua. or shall consant to the appointment of a receiver of all or any pan of the Trust Property,
<br />(h) Final Judgmant for the paymant of money shall ba rendered against Trustor and Trustor shall not discharga the same, or cause it to
<br />be discharged, within thirty (30) days after the entry thereof, or shall not appeal therefrom or from the order. decree or process upon
<br />which or pursuant to which said Judgmant was granted. based. or antered. and secure a stay of execution pending such appeal.
<br />(i) Trustor shafl sell or convey the Trust Property. or any part thereof. or any intarest therein. or shall be divested 01 its title, or any interest
<br />the18ln, in any mannar or way, whether voluntarily or involuntarily, withOut the written consent 01 Beneficiary being first had and
<br />obtained, or
<br />OJ /I Trustor is a corporation or partnership and more than fifty percant (50"10) of the shares or beneficial interests in such corporation or
<br />partnarship, as the case may be, shall be transferred or conveyed. whether voluntarily or Involuntarily. without the written consent of
<br />Beneficiary being first had and obtained,
<br />26. Acceleration of Debt; Foreclosure. Upon the occurrence of any Event of Default, or any time rhereaftar, Beneficiary may. at its optIon,
<br />declare all the Indebtadness secured hareby immediately due and payable and the same shall bear interest at tha default rate. if any,
<br />sat forth In the Note, or otherwise at the highest rate permitted by law. and, irrespective of whethar Beneficiary exercises said option, ,t
<br />may, at its option and in Its sole discretion, without any further notice 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 Trusr Property or any part thereol; make repairs and
<br />alterations and do any acts which Beneficiary deems proper to prorect the security rhereof. and either with or without taking
<br />possession, in its own name, SLt~ for or otharwise collact and recelvo rents, Issues and profits. including those past due and unpaid,
<br />and apply the sama, less costs and axpenses of operation and collecrlon, Including reasonable attorney lees and Beneficiary's
<br />costs, upon the Indebtedness secured hareby and In SUCII order 8S Benllficlary may derermine, Upon request 01 Beneficiary, Trustor
<br />ShlllllJBemble and shllll make avllllable to Beneficiary Ilny 01 till} Trust Property which has bl}en removed. The entermg upon and
<br />taking possession of the Trust Property. the collection 01 any rants. Issues and profits, and the applicatIon thereof as aforesaid, shalf
<br />not cur. or waive any default theretofore or thereafter occurring, or allecr any notice of default or notice of sale hereunder or
<br />Invalidate any act done pursuant to any such notice. Notwithstanding Benef/cl/Jry's continuance in possession or receipt and
<br />application 01 rents. Issues or profits, Beneficiary shall be entitled to exercIse every ngllt provided lor In rhls Deed 01 Trust or by law
<br />upon or after the occurrence alan Event of Default, including the flgllt to exerCise the power 01 sale. An)' 01 rhe IIctlOns relerred ro '"
<br />this paragraph may be laken by Benaflciary at sucll time as Benaflclary may derermtrle WIIIloul regard ro tile adequacy 01 any
<br />security lor the Indebtedness secured hereby.
<br />Ib) B_flclaTy shall. without regard 10 rhe 'Jdequacy of any secunty for Ihe Indeb/edness secured hereby. be elltlfled 10 Ill!'
<br />appointment 01 a receiver by any court flavlng lurlsd/crlon, without nO/Ice, to laMP possesSloll 0/. prO/ocl. ;",,7 mSllaqp 1/1" T filS 1
<br />Propelfy and Opere!9 the same IInd collecl the ronts, Issues and proMs rllerelrorn
<br />(CJ Bonaffc,ary may b"ng BIIY action In uny COlJrt of compotorr'lurrsdlctlOn to foroclO!;tl (hIS OfJC~r1 (I' Trust Pf enfnrct1 Hn~' Ilf [fl(l
<br />covllnnnts freroof
<br />
|