|
<br />88- 103752
<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 leasa of space in the Trust Property, or any portion thereof, whether such lease is now or hereafter in existence:
<br />(a) Accapt or permit any prepayment, discount or advance payment of rent hereunder in excess of one month,
<br />(b) Cencel 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 c"Incel the same, other than termination for nonpayment of rent,
<br />(c) Amend or modify tha same so as to reduce the term thereof, the rental payable thereunder, or to change any renewal provisions
<br />therein contained,
<br />(d) Walva any default thereunder or breach thereof,
<br />(e) Give any consent, waJveror approval thereunder or take any other action In 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 BeneficIary thereIn, or
<br />(t) Sell. assIgn, pledge, mortgage or otherwise dispose of, or encumber its interest in any seld lease or any rents, Issues. profits Issuing
<br />or arising thereunder.
<br />17. Waiver of Statute of Umltations. 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 actio" or proceeding for tha 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 hareby transfers and assigns to Beneficiary, all right, title and interest to any and all
<br />monies daposited 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 Trust Property.
<br />19. Corporation or Partnership Exislence, 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 ltHl payment of taxes or the discharge of liens or charges by Beneficiary shall not be a waiver of Beneficiary's right to
<br />accelerate ltHl maturity of the Indebtedness.
<br />2 f. Remedies Cumufative. All remedies provided in this Dead 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 respeclive successors and aSSigns of Beneficiary, Trustee, and Trustor. All covenants and
<br />agreements 01 Trustor shalt be joint and several. Tha captions and headings of the paragraphs of this Daed of Trust are for
<br />convenience only and are not to be used to Interpret or dafine 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 mailing such notice by cerr/fied mall, return receipt requested addressed to Trustor at its maiting
<br />address set forth above or at such other address as Trustor may designate by notice to Benaficlary as provided herein, and (b) any
<br />notice to Beneficiary or Trustee shall be given by certified mail, retum receipt requested, to Beneficiary's end Trustee's maiting
<br />address stated herein or to suCh other address as Beneficiary or Trustee may designate by notice to Trustor as provided herein. Any
<br />notice provided for in this Deed of Trust shall be d9flmfld to have been given to Trustor, Beneficiary or Trustee when given in the
<br />manner d951gnated herBin.
<br />24. Governing Law; SeVfll'abitity. This Deed of Trust shafl be governed by the laws of /he State of Nebraska. In the event any provision or
<br />clausa of this Deed 01 Trust connicts with applicable law. such conflict shall not affect othar provisions of this Deed of Trust which can
<br />be given effect WIthout the confUctlng provisions and to this end the provisions of this Deed of Trust are declared to be severabfe.
<br />25. Events 01 Default_ Each 01 the following occurrences shall consl/tute an event of default hereunder. (hereinafter called an "Event
<br />01 Default''):
<br />Ia) Trustor shall fail to pay when duo any principal. Interest, or prinCipal and Inte",st on the Indebtedness,
<br />(b} AnI" warranty or title made by Trustor herein shall be un/rue.
<br />(c) TtUSlor shalllail to observe or perform any of the cov"nants, agreements. or candiDons In this Deed of Trust.
<br />(d) Any represen/allon or walfanly made by Trustor on any finanCial statements or reports submitted to Beneficiary by or on behallof
<br />Trustor shall prove false or ml!lenally misleading.
<br />(e) Trustor shall fall 10 pertorm or observe any of tho cOl'flnants, conditions or agreements contained in, or binding upon Trustor under
<br />any building loan agf/lflment. security agre_nt, loan agreement. financing statement, or any other agreement. instrumen/ or
<br />document executf1d by Trustor in connecllOn With /heloen eVidenced by the Note,
<br />m A lTIlst9fl, receiver or liquidator of th6 Trust Property or at Trustor shall be appOinted. or any of the creditors of Trustor shall file a
<br />pelltion in banllruptcy against Trustor. or far the reorgentlaDon of Trustor pursuant to th6 Federal Bankruptcy Code, or any similar
<br />law. whether federal or state, and ,f such order or peliDon shall not be discharged or dismissed within thirty (30} days after the date
<br />on which such order or petilJon was filed.
<br />(g} Trustor shall file II petll10n pursuant to the Federal Bankruptcy Code or any SImilar law. lederal or state, or If Trustor shall be
<br />ad;udged a banllrupt, 01 be declared Insolvent, or shall malle an assignment lor the benefit 01 creditors. or shall admit in wnting Its
<br />inability to pay its debts as they become due, or shall consent to the appointment of a recaiver of all or any pari of the Trust Property.
<br />(h} Flnalludgmant for the payment of money shall be rendered against Trustor and Trustor shall not discharge the same. or cause it to
<br />be discharged, within thirty (30, days a/ter the entty thereof, or shall not appeal therefrom or from the order, decree or process upon
<br />which or pursuant to which said Judgment was granted, based, or entered. and secure a stay of execution pending such appeal.
<br />(I} Trustor shall self or convey ltHl Trust Property, or any part thereol. or any in/eresttherein, or shall be divested of its title, or any interest
<br />therein. In any manner or way. whether voluntarily or ,nvoluntarily. ~thout the written consent of BenefiCiary being first had and
<br />obfained, or
<br />(J} If Trustor Is a corporation or plJ/11lershlp and more than fifty percent (50"lo} of the shares or beneficlsl Interests in such corporal/on or
<br />partnerahip. es ltHl CBse may be, shall be transferred or conveyed. whethor voluntanly or Involuntarily, without the written consont of
<br />Beneficiary being first had and obtained.
<br />26. Acceferatlon of Debt; Foreclosure. Upon th6 occurrence of onl" Event of Default. or any rime thereafter. Beneficiary may, at its option.
<br />declare all the Indebtedness secured hereby immediately due and payable and the same shall bear interest at the default rate. If any,
<br />set foI1tI In the Nato, or oltHlrwise at tho highest rate permltled by law. and, 'rrespectlve of whether Beneficiary exercises said option. It
<br />may. 81 ilS op/Jon and In its sole discrelJon. without any further nofice or demand to or upon Trustor. do one or more of the following.
<br />fa) Beneficiary may enter upon, tako possession of, manage and operate Ifle Trust Property or any part thereof; malle repairs and
<br />8/f",allons and do any acts which Beneficiary deems proper to protect tho secUrlly thereof, and oither with or without tailing
<br />po$SfJlSiorl, In its own name, sue for or otherwise collect and receive ronts. issuos and profits, includ'rrg thOse past duo and unpaid,
<br />and IIPpIy the same, Ie" costs and IlJlpenSIlS of OPBratior' and collecDon. Including reasonable anomey flies Ilnd Beneficlltry's
<br />cas.s, upon the Indebledness secured hereby and In such order as BenefiCiary may detem"no Upon request 01 BenefIciary, Trusror
<br />shalf assemble! and shall malee avallabloto Beneficiary any 01 tho Trust Property which has been removed The entering upon Ilnd
<br />tallJ"fI polSesslon oIlhe Trust Property. the collection of Ilny rents. ISSU6S and profits, and the lippl/cat/oll thereof /IS aforesaid, shall
<br />not cur. or wail'o any de/aulltheroto/ore or thereafler occurring, or allect Bny notlCO 01 delaull or notice ot sale horeunder or
<br />mvaMdllte anI" ecr dOfle pursultnt to any such notice Notwithstanding BenefrclBry'S continuance In po~sesSlon or receIpt /lnd
<br />IlPp/lcalJOn 01 rents, ISSUltS or pro~ts, Bllneflclary shtJl/ be enfllled 10 exerCise evory nght prov.ded for m th.s Doed 01 Trust or by 18....
<br />upon or IIftllr the occurronco of 8n Event 01 Defllult. mcfudmg the nght to exercise the powe, 01 sale At'I' of the /let,ons ,elorred /0 rn
<br />ttw. parau,ttph mill" bfJ faken b~ BenefiCIa/)' lit such l,m9 liS Boneflc,ary mfty determme ....thour "'lJ'''11 10 rill' ndl'qll/lcy (1t I1ny
<br />MCurIfy lOt lhfJ tlldeblfldmus aeel/It.d hllreb~
<br />(bJ (J."tlflClllry st'IIII, w,thout logllld 10 11M l,doelullCY ot a"~ seclJrlty lor fhfl flldebrodnoss 50C"",,11"_",,/)\' />1' e"""',>,1 In I''''
<br />IItJIxP.n'n'fJn' 0.1" r(K;(tJvf" by 1JI1'1 court Ilnvmg IUfl~dlctJOn. wit/lout ,.,oIICe, to tnke pO.!li,lUJ~,SIf'tn 0,' ,,'officI tinct ffI(.lfliIGrl rhp TrlJ..r
<br />Prol"r,rty lInrJ O{Xlmte It", same line1 co/Iocr tl.o ",III,. m SUOS 1111(1 pro"" '''nrelrom
<br />iC I /rOfJt)f,cJlv't, mJlY btmfJ Jlny ocbon In any coun of COIPIlllJlfml flJn1&dlt:,mn to 'rtlf)(;'tJ~n rJ,,~ [1(1,'(' 11' rrw., !1I on'l ~'I'jl Ilf1~ (If ,tip
<br />('(1V.,flHnr"" '1,..,ftOf
<br />
|