|
<br />6. Emln.nt Dam.ln. Lender is hereby assigned all compensation. awards, damages and other payments or relief (herelnaller "Proceeds") in connection wl1h
<br />condemnation or other taking of the Property or part the,reof, ortor'CQI1VBY811ce In lieu of condemnation. Lender shall be entitled at lis option to commence, appear in and
<br />prosecute in its own name any Bctlon or proceedings. Bnd shall also be entitled ta make any compromise or sottlementin connection with such taking or damage. In the
<br />~ event any pDt1lo~ of ~he Prop'erty Is so taken o.r dam~ged. Lender shall have"the option, In Its sole Bnd absolute discretion, to apply all such Proceeds, after deducrlng
<br />--' therefrom ell costs er.d ex pen see Incurred bylt In connection with such proceeds. upon any Indebtedness .ecured hereby and In .uch ordar as Lender msy determine, orto
<br />--.--, apply all such Proceeds. after such deductions, to the restoration of the Property upon such condlllons as lender may determine. Any appllcallon of Proceeds to
<br />C'Q Indebtedness,shall not'extend or postpone the due, date of any payments under the Note. or cure any default thereunder or hereunder.
<br />
<br />C'I') 7, ' Performln.. byLlndlr. In the event 01 Borrower's failure toperlorm any of Ihe covenents herein or make any paymant. required hereby, or it any act Is taken or
<br />'. Q legal proceeding commenced which meterlelly allecls Lender's Intere.tlnthe Property. Lender msy In lis own discretion, but without obligation lodo.o,and without notice
<br />--" lo.or d. eme~d upon E;o.r. ro.....e. r. and '"."h.O.ut. r.ele. e.. 'In.g Borrowar from any obllgstlon, do any act \'Ihlch the Borrowerhes agre.d but lallsto doa. nd m,ay el.o do a~y o..ther act II
<br />,.' ~ deems r.!~c!' . iat1 t.., protect the securlty,hereof.',Borrower shall, Immedlately'upon demand therefor by Lender. pay to Lender all costs and expenses incurred and sums
<br />expende. .... t <od", In connection ",Iththe exercl.e by Lender of the loregolng rights, together with Interest thereon at the rale provided In theNole, which shall beaddadto
<br />~. he Indeb\b,:"'....ec~red. '~. arebY... Lender ahell ~~t Incur any pe.rsonalllabllllY bacsuse 01 anything it may do or omlllo do hereunder,
<br />
<br />, 8, Ewe"" 01 Dellun. The followlng,.hell constltUlean event 01 defeull undar this Daed of Trust:
<br />
<br />CO " "(e) failure topeyany Installment of prlnclpel or Intere.t or sny other.um .ecured hereby when due, ortsllure to pay when due eny otherindabtednessof
<br />, CXJ 'Barrow~:r tOil~~4~,~,., ,:
<br />
<br />., " (bl A breach of or delaull under any provision contained In the Note, thl. Deed 01 Trust, eny document which secure. the Note. and any other
<br />encu~bral)ce upon the Property;
<br />
<br />(c) A writ of execution or attachment or any similar process shall be entered against Borrowerwhlch shall become a lion on the Property orany portion
<br />thereof or Intere.1 therein; .
<br />
<br />(d) There shall b'1l flied by or against Borrower an Bcllon under any present or future federal. state or other statute, law or regulation relating 10
<br />bankruptcy'; Insolv~n.y orother rellel for debtors; or there shall be appointed eny tiu.tee. receiver or IIquldatorot Borroweror of all orany pert of the Property. or
<br />the rents, lssue.'or profit. thereol, or Borrower shall meke eny generel aa.lgnment for the benefit ot creditors,
<br />
<br />(et The safe, transfer, assignment. conveyance or further encumbrance of all or any part of or any interest in the Property, either voluntarily or
<br />Involuntarily, ,,!ithout the express wrU1en consent of Lender. .
<br />
<br />(f) If BQrrower Is not an Individual. the sale. transfer. assignment. conveyance or encumbrance of more than _ percent of (it a corporation) its
<br />
<br />Issued and out.tandlng .tock or (II a pertnershlpl_ percent 01 partner.hlp interests,
<br />
<br />9, RIlMd1n: A..,llfIllon Upon Dlllull.ln the evenl 01 any Event of Default Lender may declare alllndebtedna.. secured hereby to bedueand payable and the
<br />same.hall thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter Lender may:
<br />
<br />(a) Demand that Trustee BJCsrcisB the POWER OF SALE granted herein. and Trustee shall thereafter cause Borrower's Interest in the Property to be sold
<br />and the proceed. 10 be dl.trlbuted, ell In the manner provided In the Nebra.ka Trust Deeds Act:
<br />
<br />(bl Either In per.on or by agent. with or wllhout bringing any action or proceeding. or by e receiver appointed by a court and without regerd 10 lhe
<br />adequacy of III 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 BCtSwhlch
<br />II deems necelsary or desirable '0 prelS8rve the value. marketability or rentability of the Property. or part thereot or interest therein. increase lhe inca...
<br />Iherefrom orprotect thesBCurlty hereof and. with or without taking possession of the Property. sue for orotherwisBcollect1he rentl. issunandprofitslher801.
<br />Including those pal' due and unpaid. and apply the same. less costs and 8Kpens68 of operation and collection including attorneys. fees. uponanyandebtedneu
<br />secured hereby, all In luch order as Lender may determine. The enlering upon and 1aking possession of the Proper1y. Ihe collection of such nmls. issues and
<br />profl"and theappllcaUon thereof a.aforesald. shall not cure or waive any default or notice of default hereunder or Invalidale InYlcldons in response.osuch
<br />default or pursuent 10 such notice of detaull and. notwithstanding Ihe continuance in possession of the Property or tna collection. receipt and application 01
<br />rentl.luue. or profit., Trultee or Lender Ihan be en1111ed to sKerclse every right prOVided for 10 any at the loan lnltrume.,ts or by I.. upon occurence o' any
<br />event of defeult. Including lhe r1ghlto e.ercise Ihe power of slle; and
<br />
<br />(e) Commence an acllon 10 foreclose this Deed at Trust as a mortgage. appoint a receiver, or specifically enforce any ot the covenants hereOf;
<br />
<br />No remedy herein conferred upon or ralerved to Trustee or lender llllntendtld to be BKCluSIVB of any other remeLly herein or by law prOVIded or perm.tted. but..ch shall be
<br />cumul.t1v.. shall be in addition to every other remedy given hereunder or now or hereafter sXlstmg a11aw or in equity or by statute. and m.y be ea.rcised eoncurrenlly.
<br />Incfependenlly or IUCClIUI""ty,
<br />
<br />10. Truatee. The TrustH may resign al any time wllhout cause, and Lender may alany time and wilnoul cause appoint a successor or substitute Trustee, Trustee
<br />shall not bell.ble for allY lOll or damage unless due to actionable negligenco or Willful misconduct. and shall nol be required to take any action in connectiOn with the
<br />enforcement of this Deed of TruI' unlellindemnifled. In writing. for III CO'1.. companlallon or expenses which may be aasoc'aled therewith. In addition. TrusteII may
<br />becom8lpUrcIlll8re,"ny ..Ieolth. PrOperty (judicial or undertne pow.r 01 nle grlntad h.,e,n), pO.lpO"elne sale 01 all or Iny portlonoltne property,llprovlcledbylaw:
<br />or I8l1lhe Property... whole. or In ..plr.le p.rcetl or lOll
<br />
<br />11, ,................... Upon requel1 of Borrower, Lender may. a1111 option. make addl'lonal and future Idvanceaand readvlncestoBorrower. Suchlldvancelllnd
<br />r.adv.nc... with lntarnt th.reon. 111111 be llICured by thll D.ed 01 TrUll At no 11m. Ihslllh. pronclpel emount ollhe Indebted.....llICu,ed by 11111 Deedot Trust. not I....
<br />
<br />cludlng luml Idvlnced lopr01ect Ihesecurltyof thll Doed 01 TrUll. IlIceed Ihe orlQlnl1 prinCipal amounl sl.led herem, or $_ . whiChltVeftl
<br />g....ter,
<br />
<br />t2,_'_
<br />
<br />(I) IIorrower NoI R........ E.lenllon of the 1Ima for paymenl or modlFlcltion of amorUlation of the suml secured by Ihll Deed of Trus' ..n'ed by
<br />Lend.rto .nYSUCCllSlor In interest 0' 80rrowe,.shaU nol operato to felelltll, In any manner,lhe IIlbillty of Ihe original Borrower .nd BorrDw*f's Iuc:celSOt$.n
<br />tnl.,.It.l.ndersh.1I not be required to commence proceedlngl .gllntlluch succetsor or refuse 10 extend 1ime for payment or olherwise modlf., .monlUteon
<br />of Ihe lums leCurec:l by thia Deed of Trult by r...on of Iny dem.ndl mllde by 1na original Sonower and Sonower'S succeslon In inter.'"
<br />
<br />IbJ Lendet'IPowera. Wlthoul.llletlng thell.blllly of any olherperlon IIlble for the paymenl of .ny obligaUon herem mentioned. andwdhOut II1'lectlng
<br />the lien or charge of Inll Deed 01 TrUlt upon any por1lon 0' the Propenv not ~hen or lher.tofor. relealed a. security for the full amountof.U unpaid obllglltoM.
<br />lender may. from time to lime Ind wllhout nollce (I) rele... any per.on 10 IIlbla. Iii) eK1end Ihe m.'urHy Of aller any 0' Ihe terml of .ny luch obIig.Uonl. II")
<br />grlnt otne,. Indulgenc.., tiv) rel.lH or reconvey. or CIUse to be relellled or reconveyed at Iny lime al L.nder'l option. any parcel. portionOf' all of lhe Property.
<br />(vJ taIleor rel.....nyoth.roraddlllon.1 Hcurlty for any Obllglllon hefein mentioned, or Cvl) mlkecompOl1110n. or other arrangemenlswlthdebtOf'ltnrellbOn
<br />thereto.
<br />
<br />(c) ,....,.,..." Lender Nota W....r. Any torbe:.,ance by lender in exercIsIng Iny nght or remedy hereunder, or otherwise I"ofded by app4tceble
<br />Ilw. shill n01 be 8 Wllver of or preclude theexerciae of Iny lIuch fight or remedy, The procuremen1 01 i"sur.neeor thepaymenl 01 tlaes or otherttenlor charges
<br />by Lender 1h8t1 not be I wllver 0' lender'. righ1to accelerata the malurUv of Ihe jndebledness secured by IhlS Deed of Trulll.
<br />
<br />(dl 1_ _ Aulgna 1Iound; JoInl.nd S_rel L....."!J; c.,UoM, Tne,cove"a"" Ind agreemenll nereln contlined sn.1I bind..nd 1111 ngnll
<br />hereunder 1.,.11 inure lo;ttle r.spectlve luccelloraand .Istgnl of lender Ind Borrower. subject to Ihe provllions 01 paragraph B Cel hereof. IdICOYef\Int..nd
<br />Igraemantl of Borrowlf.han be joint and.everal. Thec.pllon..nd heading. of the paragraphS ol1nls Deed of Trult are 'orconventenceontyand are not lobe
<br />u'""" 10 Interpret or d.'ln. Ihe provlslonl hereol,
<br />
<br />(el .......t. Nolen. The plrtlas hereby requelt tnata copy of any notice of delllull horeunder and a copy of any notice at sale hereunder be mai'ldlo
<br />each party tothJI DeedofTrullatthe add,e.. let forth above.n the manner prescribed by applicable law. EICcept tor any other notice required underapphcabht
<br />'IW to beglVIn In Inother minner, any notice :;JroYlded for In Ihls Deed at Trust shall be given by mailing ~uch notice by certilied mail addrelHd to th. other
<br />Plrlln..t the addreu 181 forth .bov.,
<br />
<br />An" notice provided for In thlll Deed of TrUlt shan be deemed to have been given to Borrower or Lender when given in the manner design,,,,d herein,
<br />
<br />(It lnIpecIIan. Lander may m.ha or t;:luae 10 be made realonable entnes upon and Inapection. of Ihe Proper1v, provided th.tlttnder snall'il1ve Borrower
<br />nollce prior to any lut;:h in,pectlon Ipet;:lfylng reuonable c.u.le Iherefor related to Lender's Intereltin the Property.
<br />
<br />(g) RecOlWe,ance. Upon payment ot allium. secured by Ihl. Deed ot Trust. lender shall requllt Trulte. to r.con'tley the Property and shall surrender
<br />Ihfl Deed 01 Trult and all nolu evidencing Indebledneulecured by thll Oeed of Trusl to Trulltee Trull,ee shall reconvey the Property without wlrranty and
<br />wlthou' cMirveto Ihe perlOn or per.onaleglllly entitled thereto. Such perlon or perllons shall pay all cosls 01 recordftllon, ., any.
<br />
<br />Ch) PedonIIPropertr, lecurttJ AgrM,..nt. AI.ddiUonal &ecurity for the pllymen1 ol1he Note 811 tl,.turS!I. equipmenl. and other perianal property uled
<br />In connection with Ihe ,.alel1et8 ortmprovementlloclt-.:f therDon. and notothftrwllG declared or deemed to be a part of the rBal eSlatiltsecuredherebv,lhllI be
<br />IUb'KtIOI ..curttyinlerealln Ilvor of1he Lender undfo,the Nebraska Unl'orm Commercial Code Th.llnltrum"nl shan be conllfued as a security Agreement
<br />tJftdarUUJ COde. and tn.lend.r .haU have III the righl..nd rem6dJti a' a IIItturtd ~attv und.r Illd COde In adcfl1lo1'l io Ihe rlghis .nd remedies crealed undel-
<br />Ind -.:corded lhe Lend.r pursulnt to thll D8tld 01 TrUll.
<br />
<br />(II .......,. In tho event Ih,t eny provlllon 01 lhll Deed ofTrultconfllct wltn appllc.ble Ilw or are decllred Invalid or olnerwlll8 un.nforceabl., .ucn
<br />conflict Of InvIUdllVlhlU nOllffect the other provlllonl at 'hil Deed 01 Trust or the Nole which C8" be given eUecl wl1houllhe conrticllng proVision. and 10 thil
<br />_lhl provialonl ot the Deed of Trult Ind the Nole ere decl.,ed 10 be leverable,
<br />
<br />eorrOWllt hu execufed thl. Deed of TrUltlhe dl'e .rlll.n aboy..
<br />
<br />
<br />1
<br />)
<br />!
<br />
<br />r
<br />
|