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<br />RE.RECORDE088-1 nl;4')') . 9.h- 106069
<br />'6 Coltonanfs of TrustOl wIth Rospoct to LOBSO'i. WIthout tho prior wrlrro~o'1t'sM1f ollJo~OrJCla'Y, Trustor s~MI nOI, dlroctly or Indlroctly.
<br />. ~ with rr.tspeCllO any fOBSf1 of space in rhe Trust Proporty. or any portion thoreof, whethor such /0850 Is now or hore!JftlJ( In oxlstonco:
<br />(a) Accept or ponni' any prepayment, discount or advanco payment 01 rent hereundor In oxcess of ono month,
<br />(b) Cancel or terminate {he sarno, or accept any cancel/arion, tormlnatlon or surrender thereof, or permit any ovent to occur which would
<br />occur thereunder to torminate or c8nc~1 tho same, other than form/nation for nonpayment of rant.
<br />(e) Amond or modify the sarno so as to reduce tho 'orm thereof. tha rental payable thereunder, or to chango any renewal provIsions
<br />therein contained.
<br />(d) Waive any defautt thereunder or breach thereof,
<br />(8) Give any consent, waiver or approval thereunder or take any other action in connection therewith, or with a lessee thereunder, which
<br />would haVfl tha allact 01 Impairing tha value 01 rhe/essor's interest therounder or rhe proparty subject thereto, or of Impairing rhe
<br />posi~on or interesl of Benenc/ary therein, or
<br />(f) Sell, assign, pledge, mortgaga or otherwise dispose of. or encumber its interest in any said lease or any rents, issues, profits Issuing
<br />or an'sing thereunder.
<br />17. Waiver of Statute of Umitatfons. nme Is of the essence in all of Trustor's obligations and duties hereunder; and to the extent permirted
<br />by Jaw, Trustor waives all present or future statutes of limitations with respect to any debt, 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 />1 B. 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, tit/e 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 instal/ation of any utility by Trustor, pertaining to the Trust Property,
<br />19. Corporation or Partnership Existence. If Trustor is a corporation, general partnership, or limited partnership, it will do all things
<br />necessBty to preserve its corporate or partnership existence, as the case may be, and all rights and privileges under the laws o( the
<br />state of its incorporation or organization.
<br />20. Forbearance by Beneficiary Not a Waiver, Any forbearance by Beneficiary in exercising ariy right or remedy hereunder, or otherwise
<br />afforded by applicable Jaw, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of
<br />insurance or the payment at 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. All 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 />cDnvenience only snd sre nDt to b.~ used to Interpret or define the provisions hereDf.
<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 Df Trust shall be given by mailing such notice by certified mail. relurn receipt requesled addressed to Trustor at its mailing
<br />address set forth above or at such Dther address as Trustor may designate by notice 10 Beneficiary as provided herein, and (b) any
<br />notice to Beneficiary or Trustee shall be given by certified mail, return receipt requested, to Beneflciarv's and Truslee's mailing
<br />address stated herein Dr to such other address as BenefiCiary or Trustee may designate by notice to Trustor as provided herein. Any
<br />noD'ce 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 at Trust shall be governed by the laws of the State of Nebraska. In the 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 eft6ct without the conflicting provisions and to this end the provisions of this Deed of Trust are declared to be severable.
<br />25. Events of Default. Each of the following occurrences shall constitute an event of default hereunder. (hereinafter called en "Event
<br />of Defaun"):
<br />(a) Trustor shall fail to pay when due any pn'ncipal, interest, or principal and interesl on the 'ndebtedness,
<br />(b) Any waflsnty of tille 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 made by Trustor on any financial statements or reports submitted to BenefiCiary by or on bahalf of
<br />Trustor shall prove false or materially misleading,
<br />(e) Trustor shall fail 10 perform or observe any of the covenants, conditions or agreements contained in, or binding upon Trustor under
<br />any building loan agreement, security agreemenr, roan agreement, financing statement, 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 shaJl be appointed, or any of the creditors o( 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 petition shall nDt be discharged or dismls~ed within thirty (30) days after the date
<br />on which such order or petition was fiied,
<br />(g) Trustor shall file a petition pursuant to the Federal Bankruptcy Code or any similar law, federa' or state, or if Trustor shall be
<br />adjudged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit o( creditors, or shall admit in writing its
<br />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 Trusl Property,
<br />(h) Final judgment for the payment of money shall be rendered against Trustor and Truslor shall not discharge 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 Drder, decree or process upon
<br />which or pursuant to which said judgment was granted, basad, or entered, and secure a stay of execution pending such appeal,
<br />(i) Trustor shall sellar convey the Trust Property, or any part thereof, or any interest therein, or shall be divested Df its title, Dr any Interest
<br />therein, in any manner or way, whether voluntarily or involuntarily, without the wrinen consent of Beneficiary being first had and
<br />obtained, or
<br />W If Trustor is a corporation Dr pBltnership and more than fifty percent (50%) of the shares or beneficial interests in such corporation or
<br />partnership, 8S the case may be, shall be transferred or conveyed, whether voluntarily or involuntarily, withoul the written consent of
<br />Benenciary being nrst had and obtained.
<br />26. Acceleration of Debt; Foreclosure. Upon the occurrence 01 any Event of Default, or any time 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, it any,
<br />sat forth In the Note, or otherwIse at the highest rate permitted by law, and, irrespective at whether Beneficiary exercises said option, ir
<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 fol/owing:
<br />(a) Beneficiary may enler upon, taJce possession of, manage and operate the Trust Property or any part thereof,' make repairs and
<br />alterations and do any Bcts which Beneficiary deems proper 10 protect the security thereof. and eilher with or withoullsking
<br />pDSS8:lSion, in Its own nlJ/TJe, sue tor or otherwise collect and receive renls. issues and profits, including those past due and unpaid.
<br />and apply the S8me, less costs and expanses of operation and collection. including reasonable anorney fees and Beneficiary's
<br />costs. upon the IndebtedtJess secured hereby end in such order as BenefiCiary may determine. Upon request o( Beneficiary, Tftlstor
<br />shaIlIJSS8mble and shall make available to Beneficiary any Df the Trust Property which has been removed. The entering upon and
<br />taking poss8ssiOl1 01 the Trust Property, the collection of any rents, issues and profits, and the application thereof as aforessld. shall
<br />noI CURl Of waive any default theretofore or thereafter occurring, Dr affect any notice of default or notIce of sale hereunder or
<br />InvaHdate any act done pursuant to any suc/l notice. Notwithstanding Beneficiary's continuance In possessIon or rece/pl and
<br />appbClJbon of runts, issues or profits, Benefic/sry shaff be entitled to exercIse evo')' right proVIded tor In this Deed of Trust or by IBW
<br />upon or alter the occurrence 01 tm Event 01 Detsuft. Including the nght to exercIse the power of sale Any of the Bctlons referred to In
<br />this paragraph may be taken br Beneficiary at such tIme as BenefICiary may delomJlne Without reyurd 10 tho adequacy or any
<br />HCunty for tho Indebtedness secured hereby
<br />(bl 8enefJClVY shall. wIlhout regard to the adequacy of tiny secunly for the Indebrodnoss secuma fltJftlby. be onttrllh1 rn tfltl
<br />lIPpomtment 0'. ree.,,,,,,r bV anV coun having JunsdlctJon, without nollce. fa 10"0 posse.lis/on of. protect .I(lel mnn..lJt! f/I(~ Trllst
<br />Propetty and oper.t. the samo and collect tho rents, Issues and proMs thorefrom
<br />lei 8en.ficl~ mar bnng any ltctJon In any coon 0' competenllunsdicr/on to forecloso rhls Deed of Trusr 01 "ntorn' .1/'\ (1f nlf'
<br />COlfenanfs heTKJI
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