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f T . 88- 103139 ry 16 Coven ants & T--f— with Respect to I Bury, Tnodew Shaw..-tat effnwWw of wmArPeWu with re ;pact to arty lease of space in the Trust Prop", or any pordon ft-ovf, whgffw such kwe is now or hereafter in azWarce: (a) Am opt cw pemut any prepayment discount or advance paymerd of raw hereunder in excess of one nxxxh, (b) Can cel or terminate the Sam, or accept my cancerabon, terrnirhtgon or surrender dx"wd, or permit any evant to occur which would occur thwr et r er to terminate or carr-er the same. uUm am tem*iazion for rKripsymerg of sent (c) Am and or modify ft same so as to reduce the tort Owed, ft m9alpayable ftreundw. or to dmge any renewal provisions V*reih ccrmh7ed, (d) Warve any detauN V*feundef or breach thered, (e) Give an) conse M warier or approval thereurmW or take any od*r a=n in connecoon Vmwewr& or with a kwee dxveu*JVr, which wocid hE ve the effecl of impairing the value of the krWs interest thereunder or V' a property subject thereto, or of impaking Cie position cr viterest cf B-nekiary ffmm-n, or (0 Seft, assign. pledge, mc.1gage or cdwwise dispose (l or encumber ft,"rzterest v eny said lease or any rents, issues. pmft is&*V or arising thereunder. IT Waiver of Statute 01 Lirn1abons. Tfnv is of the essence in aft of Tamfor's �--)a duties hereunder. and to HI)e extent permitted by law. Trusfor waives DF present or Amire statutes o(&T*zbmm with respect to any debt demand or ob5gation secured hereby and any action or proceeding ior the purpose of enforcing &is Deed of Trust or any rights or remedies contained herein. 18. Assignment of Deposits- In the event construction r-4 irnprovernnis is contemplated by the loan evidenced by the Note secLffed hereby, as additional security therefore, Trustor hereby transfers and assigns to Beneficiary, alf right. Offe and irverestro any and alt monies deposited by or on behalf of Trustor with any city, county, pubfic body or agency, sanitary district, E&W company, and any other body or agency, for the installation or to secure Me installation of any u' dry by Trustor, pertaining to the Trust Property. 19. Corporation or Partnership b6stence. If Tnistor is a corporaVor, general parbvrs!*p, or united partnership, it MR do aff things --cessaryto preserve its corporate or p=mrshp existence, as the case may be, and aW rights and privileges urKw &a laws of the state of its innorporantin or organization- 210. Forbearance by Beneficiary Not a Warver- Any forbearance by Beneficiary in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or the discharge of hens or charges by Beneficiary shall not be a waver of Beneficiary's right to accelerate the maturity of the Indebtedness. 21- Remadies Cumulative- All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrentfy.4ndependently or successively- 2 - Successors and Assigns Bou.-W, Join! and Several LiabrW, Captions. The covenants and agreements herein contained zhall bind, and the rights hereunder shallf-ure to, the respective ' successors and assigns of Beneficiary, Trustee, and Trustor. All covenants and agreements of Trustor shall be joint and several. The cap6ons and headings of the paragraphs of this Deed of Trust are for convenience only and a not to be used ro interpret or define the provisions hereof. 23. Notice. Except for a; ?,v notice recuired under applicable law to be given in mother manner, (a) any notice to Trustor provided for in this Deed of Trust shal,b-- g.rven by mating such notice by certified mad, return receipt requested addressed to Tructor a.1,ts.-nalling address set forth abase or at such other address as Trustor may designate by notice to Beneficiary as provided herein- and (b) any notice to Beneficiary or Thistee shag be giver? by certified mail, return mceipt reauesred, to Beneficiary's and Trustee's mailing address stated herein or to such other address as Beneficiary or Trustee may designate by notice to Trustor as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to Trustor, Beneficiary or Trustee when fliven in the manner designated herein. 24. Governing Law. Severability. This Deed of Trust shall be governed by the laws of die State of Nebraska. In the event any provision or clause of this Deed of Trust conflicts with applicable law, such conflict shag riot affect other provisions of this Deed of Trust which can be given effect without the conflicting provisions and to this end M9 provisions of this Deed of Trust are declared to be severable. 25. Events of DefauT Each of the following occurrences shaft constitute an event of default hereunder, (hereinafter called an "Event of Default-): (a) Trustor shall fail to pay when due any principal, interest, or principal and interest on the Indebtedness, (b) Any warranty of title made by Trustor herein shall be untrue, (c) Trustor shall fail to observe or perform any of the covenants, agreements, or conditions in this Deed of Trust. (d) Any representation or warranty made by Truster on any financial statements or reports submitted to Beneficiary by or an behalf of Trustor shall prove false or materially misleading, (a) Trustor shall fail to perform or observe any of the covenants. conditions or agreements contained in, or binding upon Trustor under any building loan agreement, security agreement, loan agreement, financing statement, or any other agreement, instrument or document executed by Truslor in connection with the loan evidenced by the Note, (f) A trustee, receiver or liquidator of the Trust Property or of Trusor shall be appointed, or any of the creditors of Trustor Shag hie a petition in bankruptcy against Trustor, or for the reorganization. of Truster pursuant to the Federal Bankruptcy Code, or any similar law, whether federal or state, and if such order or petition shall not be discharged or dismissed w1hin thirty- (30) days after the date an which such order or petition was filed, (g) Trustor shall rile a petition pursuant to the Federal Bankruptcy Code or any sum!ar!aw, federal or state, or if Truster shall be ad; udged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit of creditors, or shall admit in wRang its inability to pay its debts as they become due, or shall consent to the appointment of a receiver of all or any part of the Trust Property, (h) Final judgment for the payment of money shall be rendered against Trustor and Trustor shag not discharge the same. or cause it to be discharged, within thirty (30) days after the entry thereof, or shall not appeal therefrom or from the order, decree or process upon which or pursuant to which said judgment was granted, based, or eatered, and secure a stay of execution pending such appeal, (t) Trustor shall self or convey the Trust Property, or any pal. thereof, or any interest therein, or shall be divested of its title, or any interest therein, in any manner or way, whether voluntarily or inyvantarity, without the written consent of Beneficiary being first had and obtained, or 6) If Trustor is a corporation or partnership and more than fifty percent (50%) of the shares or beneficial interests in such corporation or partnership, as the case may be, shall be transferred or conveyed, whether voluntarily or involuntarily, without the written consent of Banoficiary being first had and obtained. 26. Acceleration of Debt.- Foreclosure- Upon the occuri-r-,Rce of any Event of Default, or any time thereafter. Beneficiary may, of its option, declare all the Indebtedness secured hereby immediately due and payable and the same shall bear interest at the default rate, if any, set forth in the Note, or otherwise at the highest rate permitted by law, and, irrespective of whether Beneficiary exercises said option, it may, at ds option and in its sole discretion, witnout any further notice or demand to or upon Ttuslor, do one or more of the following: (a) Benelvary may enter upon, take possession of, manage end operate the Trust Property or any part thereof, make repairs and altora,lions and do any acts which Beneficiary deems proper to protect the s(,cumy thereof, and either with or without taking possession, in its own name, sue for or otherwise collect and receive rents, tist;r13 and profits, including those past due and unpaid. and apply thq same, less costs and expenses of operation and collection, including reasonable aff orney fees and Beneficiary's costs, upon the /nderiicfiness secured hereby and in such order as Beneficiary may determine- Upon request of Beneficiary. Trustor shall assemble and shall make available to Beneficiary any of the Trust Property which has been removed. The entering upon and taking possession of the Trust Property, the collection of any rents, issues and prohM, and the application thereof as aforesaid, shag not cure or waive any default thorelofore or thereafter occur. ng. or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant 110 any such notice. Notwithstanding Beneficiary's continuance in possession or receipt and application of rents, issues or pro.irs, Beneficiary shall be entitled to exercise every right provided for in this Deed of Trust or by law upon or after the occurrence of an Event of Default, including the right to exercise the power of sale. Any of the actions referred to in this paragraph may be taken by Beneficiary at such time as Beneficiary may determine without regard to the adequacy of any security for the indebtedness ercured hereby. (b) Beneficiary shall, without regard lo the adequacy of any security for the indebtedness secured hereby, be entitled to the appointment of a fecei, -er by any court ha: rig jurisdiction, without notice, to take possession of, protect, and manage the Trust Property and operate the same w-,d collect the rents, issues and profits therefrom. (c) Beneficiary v may bring any action in any C.wr., of competent jurisdiction to foreclose this Deed of Trust or enforce any of the covenants hereof- — ------ --- - T . 88- 103139 ry 16 Coven ants & T--f— with Respect to I Bury, Tnodew Shaw..-tat effnwWw of wmArPeWu with re ;pact to arty lease of space in the Trust Prop", or any pordon ft-ovf, whgffw such kwe is now or hereafter in azWarce: (a) Am opt cw pemut any prepayment discount or advance paymerd of raw hereunder in excess of one nxxxh, (b) Can cel or terminate the Sam, or accept my cancerabon, terrnirhtgon or surrender dx"wd, or permit any evant to occur which would occur thwr et r er to terminate or carr-er the same. uUm am tem*iazion for rKripsymerg of sent (c) Am and or modify ft same so as to reduce the tort Owed, ft m9alpayable ftreundw. or to dmge any renewal provisions V*reih ccrmh7ed, (d) Warve any detauN V*feundef or breach thered, (e) Give an) conse M warier or approval thereurmW or take any od*r a=n in connecoon Vmwewr& or with a kwee dxveu*JVr, which wocid hE ve the effecl of impairing the value of the krWs interest thereunder or V' a property subject thereto, or of impaking Cie position cr viterest cf B-nekiary ffmm-n, or (0 Seft, assign. pledge, mc.1gage or cdwwise dispose (l or encumber ft,"rzterest v eny said lease or any rents, issues. pmft is&*V or arising thereunder. IT Waiver of Statute 01 Lirn1abons. Tfnv is of the essence in aft of Tamfor's �--)a duties hereunder. and to HI)e extent permitted by law. Trusfor waives DF present or Amire statutes o(&T*zbmm with respect to any debt demand or ob5gation secured hereby and any action or proceeding ior the purpose of enforcing &is Deed of Trust or any rights or remedies contained herein. 18. Assignment of Deposits- In the event construction r-4 irnprovernnis is contemplated by the loan evidenced by the Note secLffed hereby, as additional security therefore, Trustor hereby transfers and assigns to Beneficiary, alf right. Offe and irverestro any and alt monies deposited by or on behalf of Trustor with any city, county, pubfic body or agency, sanitary district, E&W company, and any other body or agency, for the installation or to secure Me installation of any u' dry by Trustor, pertaining to the Trust Property. 19. Corporation or Partnership b6stence. If Tnistor is a corporaVor, general parbvrs!*p, or united partnership, it MR do aff things --cessaryto preserve its corporate or p=mrshp existence, as the case may be, and aW rights and privileges urKw &a laws of the state of its innorporantin or organization- 210. Forbearance by Beneficiary Not a Warver- Any forbearance by Beneficiary in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or the discharge of hens or charges by Beneficiary shall not be a waver of Beneficiary's right to accelerate the maturity of the Indebtedness. 21- Remadies Cumulative- All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrentfy.4ndependently or successively- 2 - Successors and Assigns Bou.-W, Join! and Several LiabrW, Captions. The covenants and agreements herein contained zhall bind, and the rights hereunder shallf-ure to, the respective ' successors and assigns of Beneficiary, Trustee, and Trustor. All covenants and agreements of Trustor shall be joint and several. The cap6ons and headings of the paragraphs of this Deed of Trust are for convenience only and a not to be used ro interpret or define the provisions hereof. 23. Notice. Except for a; ?,v notice recuired under applicable law to be given in mother manner, (a) any notice to Trustor provided for in this Deed of Trust shal,b-- g.rven by mating such notice by certified mad, return receipt requested addressed to Tructor a.1,ts.-nalling address set forth abase or at such other address as Trustor may designate by notice to Beneficiary as provided herein- and (b) any notice to Beneficiary or Thistee shag be giver? by certified mail, return mceipt reauesred, to Beneficiary's and Trustee's mailing address stated herein or to such other address as Beneficiary or Trustee may designate by notice to Trustor as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to Trustor, Beneficiary or Trustee when fliven in the manner designated herein. 24. Governing Law. Severability. This Deed of Trust shall be governed by the laws of die State of Nebraska. In the event any provision or clause of this Deed of Trust conflicts with applicable law, such conflict shag riot affect other provisions of this Deed of Trust which can be given effect without the conflicting provisions and to this end M9 provisions of this Deed of Trust are declared to be severable. 25. Events of DefauT Each of the following occurrences shaft constitute an event of default hereunder, (hereinafter called an "Event of Default-): (a) Trustor shall fail to pay when due any principal, interest, or principal and interest on the Indebtedness, (b) Any warranty of title made by Trustor herein shall be untrue, (c) Trustor shall fail to observe or perform any of the covenants, agreements, or conditions in this Deed of Trust. (d) Any representation or warranty made by Truster on any financial statements or reports submitted to Beneficiary by or an behalf of Trustor shall prove false or materially misleading, (a) Trustor shall fail to perform or observe any of the covenants. conditions or agreements contained in, or binding upon Trustor under any building loan agreement, security agreement, loan agreement, financing statement, or any other agreement, instrument or document executed by Truslor in connection with the loan evidenced by the Note, (f) A trustee, receiver or liquidator of the Trust Property or of Trusor shall be appointed, or any of the creditors of Trustor Shag hie a petition in bankruptcy against Trustor, or for the reorganization. of Truster pursuant to the Federal Bankruptcy Code, or any similar law, whether federal or state, and if such order or petition shall not be discharged or dismissed w1hin thirty- (30) days after the date an which such order or petition was filed, (g) Trustor shall rile a petition pursuant to the Federal Bankruptcy Code or any sum!ar!aw, federal or state, or if Truster shall be ad; udged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit of creditors, or shall admit in wRang its inability to pay its debts as they become due, or shall consent to the appointment of a receiver of all or any part of the Trust Property, (h) Final judgment for the payment of money shall be rendered against Trustor and Trustor shag not discharge the same. or cause it to be discharged, within thirty (30) days after the entry thereof, or shall not appeal therefrom or from the order, decree or process upon which or pursuant to which said judgment was granted, based, or eatered, and secure a stay of execution pending such appeal, (t) Trustor shall self or convey the Trust Property, or any pal. thereof, or any interest therein, or shall be divested of its title, or any interest therein, in any manner or way, whether voluntarily or inyvantarity, without the written consent of Beneficiary being first had and obtained, or 6) If Trustor is a corporation or partnership and more than fifty percent (50%) of the shares or beneficial interests in such corporation or partnership, as the case may be, shall be transferred or conveyed, whether voluntarily or involuntarily, without the written consent of Banoficiary being first had and obtained. 26. Acceleration of Debt.- Foreclosure- Upon the occuri-r-,Rce of any Event of Default, or any time thereafter. Beneficiary may, of its option, declare all the Indebtedness secured hereby immediately due and payable and the same shall bear interest at the default rate, if any, set forth in the Note, or otherwise at the highest rate permitted by law, and, irrespective of whether Beneficiary exercises said option, it may, at ds option and in its sole discretion, witnout any further notice or demand to or upon Ttuslor, do one or more of the following: (a) Benelvary may enter upon, take possession of, manage end operate the Trust Property or any part thereof, make repairs and altora,lions and do any acts which Beneficiary deems proper to protect the s(,cumy thereof, and either with or without taking possession, in its own name, sue for or otherwise collect and receive rents, tist;r13 and profits, including those past due and unpaid. and apply thq same, less costs and expenses of operation and collection, including reasonable aff orney fees and Beneficiary's costs, upon the /nderiicfiness secured hereby and in such order as Beneficiary may determine- Upon request of Beneficiary. Trustor shall assemble and shall make available to Beneficiary any of the Trust Property which has been removed. The entering upon and taking possession of the Trust Property, the collection of any rents, issues and prohM, and the application thereof as aforesaid, shag not cure or waive any default thorelofore or thereafter occur. ng. or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant 110 any such notice. Notwithstanding Beneficiary's continuance in possession or receipt and application of rents, issues or pro.irs, Beneficiary shall be entitled to exercise every right provided for in this Deed of Trust or by law upon or after the occurrence of an Event of Default, including the right to exercise the power of sale. Any of the actions referred to in this paragraph may be taken by Beneficiary at such time as Beneficiary may determine without regard to the adequacy of any security for the indebtedness ercured hereby. (b) Beneficiary shall, without regard lo the adequacy of any security for the indebtedness secured hereby, be entitled to the appointment of a fecei, -er by any court ha: rig jurisdiction, without notice, to take possession of, protect, and manage the Trust Property and operate the same w-,d collect the rents, issues and profits therefrom. (c) Beneficiary v may bring any action in any C.wr., of competent jurisdiction to foreclose this Deed of Trust or enforce any of the covenants hereof-