|
<br />.
<br />6. Eminent Domlln. Lender IS hereby assigned all compensation. awards, damagos and other payments or relief (hereinafter "Proceeds") 10 connection with
<br />condemnation or other taking of the Property or part thereof. or for conveyanco In lieu 01 condemnation Lender shall be entitled allls optlon to commence. appear In and
<br />prosecute In its awn name any action or proceedings. and shall also be entitled to mako any compromlSO or sutllemenllO connection with such laking or damage. In the
<br />event any portion of the Property Is so taken or damaged, Lender shall have the optlo'n. In lis sole Bnd absolute discretion. to apply all such Proceeds. after deducting
<br />therefrom all costl!l Bnd Bxpensesincurred by It In connection with such proceeds. upon any IndebtadnB155SeCured hereby and in such order as Landar may determine. orto
<br />.1' apply all such Proceeds. after such deductions. to the restoration of the Property upon such condlllons as Lender may determine.. Any application of Proceeds to
<br />J.. ~ndebtedne5S shall not extend or postpone the due date of any payments under the Note, or cure an 'I default thereunder or hereunder
<br />
<br />....... 7. Perform.nee by Lender. In the event of Borrower's failure to perform any or the covenents herein or make any payments required hereby. or it any act is taken or
<br />C\legal proceeding commenced which materially affects Lender's interest In the Property, Lender may in 115 own discretion, but without obligation to do so, and without notice
<br />......to or demand upon Borrower and without releasing Borrower from any obllgallon, do any act which Ihe Borrower has agreed but falls to do and may also do any other act it
<br />........ 'deems necessary to protect the security hereof. Borrower shall,lmmedlBlely upon demand therefor by Lender, pay to Lender all costs and eJl;penses incurred and sums
<br />OeJl;pended by Lender in connecllon with 1he eJl;erclse by Lender of the foregoing rights. together with interest thereon at the rate provided In Ihe Nole. which shall be added to
<br />,..,the indebtedness secured hereby, Lender shall nol incur any personalllabill1y because at anything II may do or omit to do hereunder.
<br />
<br />8, EwentI of Def.un. The 1ollowing shall constitute an even1 of default undor thiS Deed of Trust.
<br />
<br />(a) Failure to pay any installment of principal or Inlerost or any olher sum secured hereby when due, or failure to pay when due any other indebtedness of
<br />Borrower to Lender;
<br />
<br />(b) A breach of or default under any provision contained" in Ihe Note. this Deed of Tru9t. any document which secures the Note, and any other
<br />encumbrance upon the Property:
<br />
<br />(c) A writ of eJl;ecutlan or,attachment or any similar process shall be entered against Borrower which shall become a lien on the Property or any portion
<br />thereof or Interest therein:
<br />
<br />,
<br />00
<br />00
<br />
<br />(d) There shall be filed by or against Borrower an action under any present or future federal, state or other statute, law or regulation relating to
<br />bankruptcy. insolvency or other relief for deblors; or there shall be appointed any lrustee, receiver or liquidator of Borrower or of all or any part of the Property. or
<br />the rents. Issues or profits thereat, or Borrower shall make any general assignment for the benefit of creditors.
<br />
<br />(0) The sale. transfer, assignment, conveyance or lurlher oncumbrance 01 all or any part of or any Interesl in the Property. either voluntarily or
<br />involuntarily, without the express written consent of Lender
<br />
<br />(1) It Borrower is not an individual. the sale. transler, asslgnmenl, conveyance or encumbrance at more than ___ percent of (II a corporallon) its
<br />
<br />issued and out9tandlng stock or (if a partnership) ___ _ ~ _ _ percent 01 partnership In Ie rests
<br />
<br />9. ReftMKlle.; AccelerllUon Upon Dellult. In the event of any Event at De'ault Lender may declare all indebtedness secured hereby to be due and payable and the
<br />same shall thereupon become due and payable without any presonlmenl. domand. protest or notice 01 any kind. Thereafter Lender may:
<br />
<br />(a) Demand thaI Trustee exorcise the POWER OF SAl E granted horeln. and Trustee shall thereafter cause Borrower's interest In the Property to be sold
<br />and the proceeds to be distributed. allm the manner prOVIded In the Nebraska Trust Deeds Act
<br />
<br />(b) Either in person or by 8gonl. With or wllhoul bringing sny acllon or proceeding, or by a receiver appOinted by a court and Without regard to the
<br />adequacy of its security. enter upon and lake pOl!i&ftsslon 0' the Property, or any parllhereol,ln 115 own name or In the name at the Trustee. and do any BctswhlCh
<br />it deems necessary or deslfsble to prBllIorv8 the lIaluo. rnarkolnblltly or rentability of the Property, or part thereof or '"terest therein, Increase the Income
<br />therefrom or protect the security hereof and, wllh or Without taking possession 01 the Properly, sue 'or or otherWise collect the rents. Issues and protits thereof,
<br />including those past dU9and unpaid. ond apply Iho somo, leS5 costs and BKpenses ot operation and collection Includmg attorneys' lees, upon any mdebtedness
<br />secured hereby, all 10 such order as Lender may delnrmlne The entorlng upon and taking possession of Ihe Properly. Ihe collection of such rents. Issues and
<br />prOfits and the application lhereof asaforlllald. shall not cure or waive any detault or notIce 01 delault hereunder or invalidate any act done In response to such
<br />default or pUfSuBnllO SuCh nOllce 01 del.ult IInd. nolwllhstllndlOg the continuance In possession of the Property or the collection, receIpt and application 01
<br />rents, issues or profits, TruSlee or Lendor shall be entitled to exerCise every rlghl prOVided for In any of the Loan Instruments or by law upon occurence of any
<br />event 01 default, including the nghllo exerCIS" Ihe pO\llior 01 sale. and
<br />
<br />(c) Commence an Bcllon to tmeclose Ihls Deed at Trusl 85 a mortgage, appoint a receiver, or speCifIcally enforce any of Ihe coven an IS hereol:
<br />
<br />No remedy herein con1erred upon or reservud to Truslee or lunder 15 Inlendecl 10 be exclUSive of any other remedy herein or by law prOVided or permlt'ed. but each shall be
<br />-.cumul.tive. shall be in addition to every other remedy glvfJn hereunder or now or hereafter eXisting allaw or In eqully or by staluto, and may be exerCIsed concurrently.
<br />Independently or successively
<br />
<br />10. T,....... The Trustee may resign 81 any lime Wllhout cause nnd Lender may at any time and without cause apPolnl a successor or substitute Trustee. Trustee
<br />shall not oe Iieble for 8ny 1018 or damage unless due to actionable negligence or Willful misconduct. and !hall nol be reqUIred 10 lake any acbon 10 connecbon with the
<br />enforcement 01 this Deed of Trust unless indemnified. 1'1 writing. tor all costs. compensallon or okpenses whIch may be assoclaled thereWith In addition. Trustee may
<br />become. purchaser at any sale 01 the Property tJudlclal or under the power of sale granted herein I postpone Ihe sale of all or any portion 011he property. as provided bylaw;
<br />or sell the Property 8S a whole, or in separate parcels or 1015
<br />
<br />" Future Aft.nc... Upon request ot Borrower, lender may at lis optIOn make addlllonalllnd future Advances and readvancBS 10 Borrower SuCh advances and
<br />readvances. with interest thereon. shall be secured by thiS Deed 0' Trust At no time shall the pnnclpal amount at the mdetllcdness secwed by Ihls Deed 01 Trust. nol In.
<br />
<br />eluding sums advanced to protect the secunty of IhlS Deed at Trusl, exceed Ihe angInal prinCIpal amount slaled herBIn, or S 25.,f.QOO. 00 . whichever is
<br />greater
<br />
<br />12 M-.-. "-IIIon1.
<br />
<br />(a) Borrower Not R.leaMd. ExtenSion 01 Ihe time for payment or modlftcatlon 01 amorhlollon 01 lhe sums secured by thiS Deed 01 Trust granted by
<br />Lender to any lucce.sor en Interest 01 Borrower shall not operate to rcleHse many mannOf. tile liability 0' Ihe Orlgln81 BOITower and Borrower's successors 10
<br />interest Lender shall not be reqUired to commence proceedings agalnsl such succe~sm Of reluso IOflJltend lime tor payment or otherWIse modify amortrzatlon
<br />of the sums secured by thIS Deed of Trust by reason ot any demands made by the orlgmal Borrower and Borrower's successors In mterest
<br />
<br />tb) Lende,..Powerl. Without aHeetlng the liability of any other pOr'!mn hable 101 the pftymenl ut any obhgaflon he'eln menfloned, and wlthoutaffectmg
<br />Ihe Ilsn or Charge of thll Deed Of TrUlI1 upon any portion ot 1ho Properly no11hon Of Ihornlo1or6 reloftscd 85 ,ccunly for 1t'le 1ull amount 01 all unpaId obligations.
<br />Lender mey. I,om tlmeto time and wllhoul notice III releAse any pe,son '0 lIabl6 till e.temJ the mahlflty or aller any 01 lhe lerms of any such Obligations. till)
<br />granl olher Indulgences.llvl release or reconvey or cause 10 be released Of reconlleyed at .1ny ,.me at lender s opllonsal"Y parcel. portion or all of the Property.
<br />(vi takeorr.lease any olher or addlltonal securtty tor any obligation herein mentioned 0' ''''11 make compOSlIlOns or other arrangements with deblors In relation
<br />Iherelo
<br />
<br />(C) Forbe8r11ftCt1 by Lender Not. WI".r. Any forbearance by Leflfj(H In l'&fHCl!ung any fight or remedy hereunl1er or olherwlse atfotded by applicable
<br />lew, Ihlll nol bea waiverof 0' preclude Ihecxerc,,:ie 0' any such fight Of remedy the procuremont or Insurance or the payment 01 taxcsor other hens or charges
<br />by Lender Ihall not be a welver 01 Lender's reghlto accelerate Ihe matunty 01 'hI' tndebtednes5 ~l1cured by thiS Deed of Trusl
<br />
<br />Borrower h., ..ec\lled Ihll 0Nd at Tru"lhe d.le wrlU.n above
<br />
<br />(d) Succeuon.nd ANlgn. Bound; Joint end Seor.1 L"bllllr; Captlonl. Tn" covenants and agreemenls herein contained shall bmd. and the fights
<br />hereunder shell Inure to, the re,pectlve successors and assigns 0' Lender and BOHower sUbJecl to the prOVISions 0' paragraph 8 Ie) hereof All covenants and
<br />agreements 01 Borrower '''111 be lOin 1 and several The captions and headings of the pllragraphs ollhls Deed 0' Trust are lorconveOlencecnlyandare not to be
<br />uMd to Interpret or define the prOVISions hereot
<br />
<br />(e) A..... lor NoUc... The partlB' hereby request that a copy ot any nohce of defnult hereundef and a copy 01 any nohce of sale hereunder be mailed 10
<br />each party 10 this 0eecI 01 Trul!llllt Ihe addresl!Iset forth above 10 Ihe manno, preSCribed by lIpphcahle law Except lor any other noltce requited under apphcable
<br />law to be IIjIlven In Inother manner. any notIce prOVided for In thIS Det"d of Trust !!ohall bf" gillen by mailing such noltee by certified ma,' addressed to Ihe other
<br />part..l, .t Ihe address set 'orth above
<br />
<br />Any nohee prOVided for tn thll Deed ot Trusl shall be deemed to h.vl! been gl'lIen to Borrower or lender when given 10 1he manner deSignated herem
<br />
<br />(fl InapKtIon. Lender may make or ClUse 10 be made relsonable Bntnes upon and inspections 01tht:! Property. prOVided that Lender shall give Borrower
<br />notice prior to any luCh Inl$)8clion specifying relsonable cause there10r related 10 Lender', IOterest In the Property
<br />
<br />tg) ".conYe,l.nc.. Upon payment of all lums securod by 11'11' Deed 01 Trust lender !ihall requost Truslee to reconvey Ihe Property Bnd shall surrender
<br />Ihll Deed of Trust and all noteS! eviCJenclng mdebledness secured by Ihl' Deed of T rust to Trustee Truslee shall reconvey the Property wlthoul warranly and
<br />Wllhout ch.r~1 10 thCI peraon or perlons legally enlllled 11'18reto SUCh person or persons sholl pay i!1I costs ot recordAhon. 1111n~
<br />
<br />(h) Petson8IPropftty, lKurttJ Alr..men.. A5sddltlonal security for 1he paymen1 ot the Nole all fl1l1ures. equlpmenl, and other personal propm1y uled
<br />In connection With the rltal 8lt.le or InlprOvemenllloclted thereon, and not otherWise declared or deemed 10 be a part of the real eatale lecured hereny &h.1I b~
<br />lubtecl lOll MCurlly Inlerelr In 'avor at the Lendt"r undfl'r the Nebraska Uniform CommerCIal Code ThiS InstrumllJntshall be conslrued 8S. Secunly AgrPemen1
<br />under laid Cod.. and Iht Lende' thall h.ve all the rlghlS and remedies of B secured party under 51!11d Code In sddlllon to the fights fltnd r~me-dlel created unCJer
<br />.nd .cco,decllhe Ler.dtIr pur,u.n1to Ihll Deed 01 TrUll.
<br />
<br />II) .........,.lrllt\ll ~nllhat Iny proviSion 0' Ihll Deed of Trusl confllCI With applicable Inw or lue declared ,"valid or otherWise unentmcelllble IUch
<br />contlJcl or Inv.lldi'V IhaU ncllnect the olher provlllonl 01 lh" Deed 01 TruSI or Ihe Notlt which can bBglvon etl8cl Wl1t10utlhu confllctlno proviSion find to Ihl'
<br />end IhtI prov'l,onl of thlt 0Nd or Trulllnd Ihe N:ote life declared to be sdverable
<br />
<br />
<br />--:7;h~ ,. ~
<br />~~:://) ~~_.
<br />,.~. ," . ... ./
<br />.. -...,... '--. ~
<br />/~, lit E. rUn, /", U~_r
<br />, / //) / ~ ///;)'.,-1.:<./, 7-}.S"-I(
<br />(~, ~"U. " .....'~r'~ .-....~c..~~ ' c..- 1-.
<br />--." OOllowm
<br />(Marlh~ f. Marll", Wj(p)
<br />
|