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<br />RE.RECOROEO 88- 105423
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<br />86- 10607Z
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<br />'6 Cowtnants 01 rrustor wIth Rospoct to L08S0S. Without rho pnDr wntton conso"t 01 Bonoliclary. Trustor sholl nor, dlroctly or Indlrect,y.
<br />. wml fDSpOC1lD any looso of spoco In rho Trust Proporty, or any pafTlon thereof, whethor such looso is now or horoaftor in ox/stonco:
<br />(0) Accept 01 porrmlony propoymont. discount or advance payment 01 rent horeunder In oxenss of one month,
<br />(b) Cancel Of fOrrntnoto rho some, or accept any canceflatlon. form/nation Of surrender thoroo', IJr permit Bny even! to occur which would
<br />occur thereunder to farm/nate or cancel tho sarno, othor than tarmlnatJon for nonpaymont 01 ront.
<br />(e) Am8nd 0( mDdity rho sarno so as to reduce tho torm thorBof, tho rental payable thereunder. or to chango any ronewal provisions
<br />thoraln containod.
<br />(d) Waive any defaun thereunder or breach thereof,
<br />(0) Give any consent, waiver or approval thereunder or take any other action in connection therewith, or with 8 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 />(f) Sell, assign, pledge, mortgage or otherwise dispose of, or encumber its interest in any said lease or any rents, issues, profits issuing
<br />or arising IhefBunder.
<br />17. Waiver of Statute of Um/tations. Time is of the essence In all of Trustor's obligations and (Jut/es hereunder,' and to the extent perm/ned
<br />by law, Trustor waives all present or future statutes of limitations with fflspect 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 />rB. 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, title and interest to any and all
<br />monies deposited by or on behsff 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 Existence. If Trustor is a corporation, general partnership, or limited partnership, it will do 811 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 Benefic/sry Not 8 WaIver. Any forbearance by Beneficiary {n 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 the payment of taxes or the discharge of liens or charges by Beneficiary shaJ/ not be a waiver of Beneficiary's right to
<br />accelerate the maturity of the Indebtedness.
<br />21. Remedios Cumulative. All remedies proVIded in this Deed of Trust are distinct and cumulative ro any other right or remedy under this
<br />Deed of Trust or afforded by law Of eqUIty. and may Oe exercised concurrentty, 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 respectivB successors and assigns of Beneffciary, Trustee, and Trustor. All covenants and
<br />agreements of Tn'sror sha1l be joint and several. The captions and headings of the paragraphs of this Deed of Trust are for
<br />co."Jver.ience only and are not to be used to interpret or define the provisions hereof,
<br />23. Nonce. 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 certified mail, return receipt requested addressed to Trustor al its mailing
<br />address set forth above or at such other address as Trustor may designate by notice to Beneficiary as provided herein, and (b) any
<br />notice to Beneficiary or Trustee shall be given by certified mail, return receipt requested, to Beneficiary's and Trustee's mailing
<br />address stated herein or 10 such other address as Beneficiary or Trustee may designate by notice to Trustor as provided herein. Any
<br />notice provided for in thIS Deed Df Trust shall be deemed to have been given to Trustor, Beneficiary or Trustee when given in the
<br />manner designated herem.
<br />24. Governing Law; Severability. This Deed of 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 olher provisions of this Deed of Trust which can
<br />be given effect without the conflicting proviSIons and to this end the provisions of this Deed of Trust are declared to b& severable,
<br />25, Events of Defauh. Each 01 the followmg occurrences shall constitute an event of default hereunder, (hereinafter caJ/ed an "Event
<br />01 De/Buff"):
<br />(a) Trustor shall fail to pay when due any pnnc/pat, Inlerest, or prinCipal and interest on the Indebtedness,
<br />(b) Any warranty 01 title made by Truslor herem shall be untrue,
<br />(c) Trustor shall fail 10 observe or perform any of Ihe covenants, agreamenls, or conditions in this Deed at Trust,
<br />(d) Any representation or warranty made by Trustor on any financial statements or reports submit1.ed to Beneficiary by or on behalf of
<br />Trustor shall prove false or matarially misleading,
<br />(e) Trustor shall fail to perform or observe any of the covenants, conditions or agreements contained in, or binding upon Trustor under
<br />any building loan agreement, secunty agreement, loan agreement, financing statement, or any other agreement, instrument or
<br />document executed by Trustor In connecDon WIth the loan evidenced by the Note,
<br />m A trustee, recefver or liqUIdator of the Trust Property or of Trustor shall be apPolnred, or any of the creditors of Trustor shall file a
<br />perman in bankruptcy against Trustor, or for the reorganization of Trustor pursuant to the Federal Bankruptcy CDde, or any similar
<br />law, whether federal or state, and if such order or pelltion shalf not be discharged or dismissed within thirty (3D) days after the date
<br />on which such order or petition was filed,
<br />(g) Trustor shall file a petition pursuant to the Federal Bankruptcy Code or any simUar law, federal or state, or if Trustor shall be
<br />adjudged a bankrupt, or be declared Insolvent. or shalf make an assIgnment for the benefit of creditors, or shall admit in writing its
<br />inability to pay its debts as they become due, or shall consent to the appointment of e receiver of all or any part of the Trust Property,
<br />(h) Final judgment for the payment of money shall be rendered against TruslCir and Trustor shall not discharge the same, or cause it to
<br />be discharged, wit"in thirty (30) days after the entry thereof, or shall not appeallherefrom or from the order. decree or process upon
<br />which Of pursuant to which said Judgment was granted, based, or entered, and secure a stay of execution pending such appeal,
<br />(i) Trustor shall sell or convey the Trust Property, or any panlhereof, Dr any interest therein, or shall be divested of its titJe, or any interest
<br />therein, in any manner or way, whether voluntarily or involuntarily, without the written consent of BenefiCIary being first had and
<br />obtained, or
<br />(j) ff Trustor is a corporation or partner.ship and mare than fifty percent (50%) of the shares or benefiCIal interests in such corporation or
<br />partnership, as the case may be, shall be transferred or conveyed, whether voluntanly or involuntarily, WIthout the written consent of
<br />Beneficiary being first had and obtained.
<br />26. Acceleration of Debt; Foreclosure. Upon the occu"ence of any Event of Default, or any tIme thereafter, Beneficiary may, at its optIOn,
<br />declare all the Indebledness secured hereby immediately due and payable and the same shall bear Interest at the default rale, if any,
<br />set forth ;n the Note, or otherwise at the highest rate pemlltred by law, and, Irrespectllle ot whether BenefiCiary exercises said option, It
<br />may, at its option and in its sole discretion, without any further notice or demand to or upon Trustor, do one or mora of the following;
<br />(a) Beneficiary may enter upon, take possession of, manage and operate the Trust Property or any pan thereof; make repairs and
<br />aJtar.oons and dD any 8ClS which Benerrciary deems proper to protect the security thereof, and either with or WIthout taking
<br />possession. In Its own name, sue for or otherwise collect and receive rents, Issues and profits, including Ihose pasl due and unpaid.
<br />and apply rhe same, less costs and expenses of operation and collection, including reasonable attorney fees and Beneficiary's
<br />costs, upon the Indeblo-dnsss secured hereby and in such order as BenefiCIary may determlne_ Upon request of Beneficiary, Trustor
<br />shall assembM and shalt make available ro Beneficlsry any of the Trust Property whic" has been removed The emerlng upon and
<br />r.Jcing posSUSIDI1 of the Trust Property, the collection 01 any rents, Issues snd profits, and the application thereof as aforesaid, shall
<br />not cure 01 waiif6 any default theretofore or thereaner occumng, or affect any notice of detault or notIce of sale hereunder or
<br />invalidalB any IIcl done pursuant to any such norice, Notwithstanding Benaflc/ary.S contmuanCB In possession or receipt and
<br />app"~tton of rents, Issues or proflrs, Beneficiary shall be entitled to exercIse e\.'8ry oght proll/ded for In thIS Deed of Trusl or by law
<br />upon Dr aIfttr rhe occurrunce of an Event of Delault, Includmg rhe nr/hf to exerCise the power of sale Anvof 'he acf10ns Iflferred to In
<br />tht3 pwagraph ma-y be taken by Benefic/nry at such time as Beneflclsry mBV je!ermme WIthout ragtlro to the adequaq. ar any
<br />seeunrr for m. IndebtftdnfJS5 .secured hereby
<br />(bJ BenefICIal')' shall. WIthOut regard to lhe lIdequacy of anV secunty 10, the Indebtedness secured herobv bo ~nrlf/pd to fhp
<br />~ntmenr 01 a ffIC8nI8r bjo' any court hovrng lurisdlcoon, WIthout "Orlce fa taNe posseSSIon t1t pmffwl /In,l miff!;"]!' r'lI' rrusr
<br />PropeI'ty and Dpera's lhe same and co/leCl the rents, issues and profits therefrom
<br />Ie, aen.t"lCIary m.y bn1JQ any seDan In any cout1 01 compefBnt lunsdlct10n '0 to/oclose rtHS [\Poet pI rrlJ...r [1/ pnlp/, ,. .t"~ (II rtlft
<br />cth'IInantJI henIot
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