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<br />88-; 105573 <br />16. Covonants at Trustor with Respoct to L08sos. Without the prior written consent of BeneficIary, Trustor shalf not, dlroctly ur Indirectly. <br />with rospoct to any /08S9 of space in tho Trust Property, or any portion thoroof. whu,hor such looso is now or hereafter In mtlBlonce: <br />(a) Accept Of parmit any prepayment, discount or advance payment cf rent hereunder in excess of one month, <br />(b) Cancel or rannlnare the sarno, or accept any conce/farion, termination or surrender therool, or pormit any BI/8nr to occur which would <br />occur thereunder to termlnOle or canco/tho same, other than termlnotlon for nonpayment of rant, <br />(c) Amend or modify tho same so as to roduce the term thereot. the rental payable thereunder, or to chango Bny renewa' provisions <br />therein r:ontained, <br />(d) Waive any delault /hareundar or breech thareol, <br />(a) Give any consent, walvsr 01 approval thereunder or take any other Bcricn in connection therewith, or with a lessee therounder, which <br />would have the effect of Impairing the value of the lessor's interest thereunder or the property subject thereto. Of o( Impairing the <br />posiOon or interesl 01 Benenclary /hareln, or <br />m Sell, assign, pledge, mor/gege or o/herwisa dispose 01, or encumbar its interest In any seid leese or eny rents, issues, prolits issuing <br />or arising thsrounder. <br />17. Waivor of StaMB of Urn/tat/ens. Time is of the essence In all of Trustor's obligations and duties hereunder. and to the oxtent perm/tied <br />by law, Trustor waives elf present or future statutes of /fm/lations with respect to Bny 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 comalned herein. <br />18. Assignment of Deposits. In the event construction o( improvements Is contemplated by the loan evidenced by the Note secured <br />hereby. as additional security therefore, Trustor hereby transfers and assigns to Beneficiary. a/l right, title and Interest to any and all <br />monies daposlled by or on beha/lol Truslor wilh any city, county, public body or egency, senllery dlstrlcl, utility compeny, end <br />any other body or egency, for the installelion or to secure Ihe installalion or any ulility by Trustor, partainlng 10 the Trust Property, <br />19. Corporarion or Partnership Existence. If Trustor is a corporation, general pa11nership, or /lmited partnership, it will do alt things <br />necessary to preserve its corporate or partnership existence, as the case may be, and all n'ghts 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 ahy 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 rhe payment of raxes 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 rigm or remedy under this <br />Deed of Trust or afforded by law or equity, and may be exercised concu"sntly, 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 ISspective successors and assigns of BenlJficiary. 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 />convenience only and are not to be used to interpret or define 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 certified mail, return receipt requesred addressed to Trustor at its mailing <br />address set f011h above or at such other address 8S Trustor may designate by notice to Beneficiary as provided herein, and (b) any <br />notice to Beneficiary or Trustee shall be given by certified mall, return receipt requested, to Beneficiary's and Trustee's mailing <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 deemed to have been given to Trustor, Beneficiary or Trustee when given in rhe <br />manner designared herein. <br />24. Governing Law: Severability. This Deed of Trust shall be governed by the laws of rhe State of Nebraska. In the event any provision or <br />clause of this Deed of Trust conflicts with applicable law, such conflict sllall not affect other provisions of this Deed of Trust which can <br />be given effect without the confiicting provisions and to this end the provisions of this Deed of Trust 819 declared to be severable. <br />25. Events of Defaull. Each of the following occurrences shall constitute an event of default hereunder. (hereinafter called an "Event <br />or DefBult"): <br />(a) Trustor shall fall to pay when due any principal, interesr. or principal .gnd interest on the Indebtedness, <br />(b) Any warranty of title made by Trustor herein shall be unlrue, <br />(c) Trustor shall fail to observe or perform any of tha covenants. agreements, or condirions in this Deed of Trust, <br />(d) Any representation or warranty made by Trustor on any financial statements or reports submined ro Beneficiary by or on behalf of <br />Trustor shall prove fa/se or materially misleading, <br />(e) Ttus/or shall/all to parform or obsarve any of the covenents, conc1i11ons or agreements contained in, or binding upon Trustor undar <br />any building loan agreemont, security agreement, losn agreement, financing statement, or any other agreement, Instrument or <br />document executed by Trustor in connection with the loan evidenced by the Nota, <br />(f) A trustee, receivar or liquidator of the Trust Property or of Trustor shall be appointed, or any of the creditors of Trustor shall liIe 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 not be discharged or dismissed within thirty (30) days after the date <br />on which such order or petillon was liIed, <br />(g) Trustor shall file a petition pursuant to lhe Federal Bankruptcy Code or any similar law, federal or state, or if Trustor shall be <br />~djudged a bankrupt, or be declared insolvent, or shall make an a!~signment 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 appolntmenr of a receiver of all or any pa11 of the Trust Properly, <br />(h) Final judgment for the P!iyment of money shall be rendered against Trusfor and Trustor shall not discharge the same, or cause it to <br />be discharged. within.ffj;rty (30) days after the entry theraof, or shall not appeal lherefrom or from rhe order, decree or process upon <br />which or pursuanlto which said judgment was granted. based, or entered, and SeCure a stay of execution pending such appeal, <br />(i) Trustor shall sell or convey r;,e Trusr Property, or any pa11thereof. or any interest therein, or shall be divested of its title, or any Interest <br />therein, in any mannar or way, whether voluntarily or involuntarily, wilhout the wrinen consent of Beneficiary being first had and <br />obrained, or <br />(j) If Trustor is a corporation or partnership and more than fihy percent (50%) of the shares or beneficial interesrs in such corporation or <br />partnership, as the case may be, shall be transferred or co/weyed, whether voluntarily or involuntarily, Without the wriNen consant of <br />Beneficiary being first had and obtained. <br />26. AcceJeration of Debl; Foreclosure. Upon the OCCU"enC9 of any Event of Default, or any time thereafter, Beneficiary may, at its option, <br />declBIB aI//he Indebledness secured hereby /mmedlarely due and peyable end the seme shell bear Interest et the delaull rare, II eny, <br />set forth in the Note, or otherwise at the highesr rate peTmilted by law, and, i"espective of whether Beneficiary exercises said option, it <br />may, st ilS option and in its sole discretion, without any further notice or demand to or upon Trusror, do one or more of the following; <br />(a) BBnelicJ81Y may enter upon. take possession of, manage and operate lhe Trust Properly or any pari thereof; make repairs and <br />alterations and do any acts which Beneficiary deems proper to prorect 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 lhose past due and unpaid, <br />and apply the same, less costs and expenses of operation and collection, including reasonable attorney fees and Beneficiary's <br />costs. upon the Indebtedness secured hereby and In such order as Beneficiary may determine. Upon request of Beneficiary, Trustor <br />shaIJ assemble and shall make available ro Baneficiary any of the Trusr Property which has been removed. The entering upon and <br />taking possession 01 the Trust Property, the collection o( any rents, Issues snd profits, and the application rhereof as aforesBld, shall <br />nol cure or waive any defaun theretofore or thereaher occurring, or affect any noDce of defauff or notice of sale hereunder or <br />invaJid81e 1111'1 act done pursuant to any such notlc9. Notwithstanding Beneficiary's conlfnuance In possession or receipt snd <br />applicatIOn of rents. issues or profits, Benaficiary shafl be entirted co aXNClse every ngtTt proVided for ,n thiS Deed of Trust or by law <br />upon 01 ahor tho occurrence of an Evenl of De/aull. including rho nghl to exerclso rho powor of sa/o /~ny of rhe actions referred ra In <br />lhis paragraph may be laken by BenefiCiary sr such tJme as BenoTlclory msy determine WIthout feytlfG to me Rdequacy aT Bny <br />S8CVnty for rhe Indobtudnoss securod horeby <br />lb, BenotJc.ary shall. INlrhout regard 10 tho adequacy of any socunty fOf the Indebrfldnoi'fos sm lmld "um'ny ill' l~rltltlp(1 to "Ie <br />appomtment of a recmvor bt any cout1 haVIng /unsd1ction, WIthout nOrICO, 10 ,,,IIf1 po....su.t;...,(ln III {llnr." ~ .In(l '",Uli~(J" fllf! TflJsI <br />Properry and operata rho samo ond collect tho rents. ,ssuos and proflrs tfloft)"flm <br />lei 8ene',c:8fy mar Dfrng any Bctlon many cou,r oT compotofll IUflsdlction to '01"0("1[1"" ffl" (1"(></ "~, r.ll,"" I" .W.'I"1 " di'l ,I' ~"" <br />(o\"'Onanf, hnf(lOl <br />