|
<br />16, Covenants 0/ Trustor with Respect to Leases. Without the prior wrmen consent of Benellclary, Trustor shall not, dlreclly or Indlreclly,
<br />with raspecl to any lease of space In the Trust Property, or any portion thereof, whether such leese Is now or hereafter In existence:
<br />(a) Accapt or permit any prapaymant, discount or advance paymant of rent hareundar in excess of one month,
<br />(b) Cancaf or termlnata tha sama, or accept any cancallallon, terminallon or surrendar theraof, or permit any event to occur which would
<br />occur thareunder to tarmlnate or cancel tha sama, othar than termlnallon for nonpayment 01 rent,
<br />(c) Amend or modlly rha sama so as to reduca the term theraof, the rental payable thereunder, or to change any ranewal provisions
<br />therein contelned,
<br />(d) Welva any defauft thareunder or breach theraof,
<br />(e) Give any consent, waiver or approvalll/ereundar or taka any orhar acllon In connecllon therewllh, or with a lessae thereunder, which
<br />would have the elfact of Impelrlng the vefue,.of, the lessor's Interest thereunder or the property subject rherato, or of Impairing the
<br />poslffon or Interest of Beneficiary therein, or", I
<br />(Q Sell, assign, pledge, mortgage or otherwise dispose of, or encumber lis Interest In any said leasa or any rants, Issuas, profits Issuing
<br />o or arising thereunder. . .
<br />~ 17. Waivar of Statula of UmltaUons. Tlmals of /he ..&Senceln all of Trustor's obllgellons and dulles hereunder; and to the extent permmed
<br />o by lew, Trustor waives all present or future statutes of limitations with respect to eny debt, demand or obllgallnn secured hereby and
<br />any action or proceeding tor the purpose of enforcing this Deed of Trust or any rights or remedies contained herein.
<br />Oc:o 18. Assignment of Deposits. fn the event construction of Improvements Is contemplated by the loan evidenced by the Note secured
<br />hereby, as aadltionaf sacurlty therefore, Trustor hereby Iransfers end assigns to Beneficiary, all right, title and Interest to any and all
<br />..-1 manias 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 agancy, tor the Instaflation or to secura tha installation of any utility by Trustor, pertaining to the Trust Property.
<br />19. CorporeUon or Partnership EJllstenca. ff Trustor Is a corporation, general partnership, or limited partnership, it will do all things
<br />CO necessary to preserve its corporate or partnership existence, as the case may be, and 811 rights and privileges under the laws of the
<br />CO 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 appficablalaw, shall not ba a walvar of or preclude the exercise of any such right or remedy. The procuramant of
<br />Insuranca or tha paymant oftaxas or tha dlscharga o/lians or charges by Banaflciary shall not be a waiver of Benaflciary's right to
<br />accalarate the maturity of the Indebtedness.
<br />21. Remedies Cumulative, All remedies provided In this Deed of Trustara distinct and cumulative to any otherright or remedy under this
<br />Deed of Trust or afforded by taw or equity, a,'d may be e.ercised concurrently, independently or successively.
<br />22. SuccasSiJIS and Assigns Bound; Joint and Several Uability; Capllons. Tha 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 tile 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 noUce 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 nollce by certified mail, return receipt requested addressed to Trustor at its mailing
<br />address set forth above or at such other addrass as Trustor may designate by notice to Beneficiary as provided herein, and (b) any
<br />notice to Benaficiary 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 othar address as Beneficiary or Trustee may designate by notice to Trustor as pravidad herein. Any
<br />notice provided for In this Daed 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 Daed of Trust shall be governed by the laws of the Stata of Nebraska. In the event any provision or
<br />clause at this Deed of Trust conflicts with applicable law, such conflict shalJ not affect other provisions at 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 be severable.
<br />25. events of DefaulL Each of the following occurrences shall conslltute an event of default hereunder, (herelnaller called an "event
<br />of Default"):
<br />(a) Trustor shall fail to pay when due any principal, interest, or princIpal and Interest on tha Indebtedness,
<br />(b) Any warrenty of title 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 wa"anty made by Trustor on any financial statements or reports submilled to Beneficiary by or on behalf of
<br />Trustor shell prove (else or materially misleading,
<br />(e) Trustor shell fail to partorm or observe any of the covenants, condillons or agreements contained In, or binding upon Trustor under
<br />any building loan agreement, security agreement, loan agreement, financing statement, or any other agreement, instrument or
<br />document executed by Trustor in connection with the loan oll/denced by the Note,
<br />(Q A /rUstee, receiver or fiquldator of the Trust Property or of Trustor shall be appointed, or any of the creditors of Trustor shall file a
<br />petition In bankruptcy against Trustor, or tor the reorganization of Tlustor pursuant to the Federal Bankruptcy Code, or any similar
<br />taw, whether federal or state, and if such order or patition shall not be discharged or dismissed within thirty (30) days aller the date
<br />on which such order or petition was filed,
<br />(g) Trustor shall file 8 petition pursuant to the Federal Bankruptcy Code or any similar law, federal or state, or if Trustor shall be
<br />adjudged a bankrupt, or be declared Insolvent, or shall malee an esslgnment for the benefit of creditors, or shall admit in wrlllng its
<br />inability to pay its debts 8S they become due, or shell consent to the appointment of a receiver of all or any part o/the Trusr Property.
<br />(h) Final judgment tor the paymant of money shalf be rendered against Trustor and Trustor shalf 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 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 />(/) Trustor shall self or convey the Trust Property. or any part thereof. or any Interest therein, or shall be divestad of its title, or any Interast
<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) It Trustor;s a corporation or partnership and more 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 voluntarily or involuntarily. without the written consent of
<br />Beneficiary being first had and obtained.
<br />26. Acceleration of Debt; Foreclosure. Upon the occurrence of any Event of Default, or any time thereafter. Beneficiary may, at its option,
<br />declare all lhetndebtedness secured hereby immediately due and payable and the same shall bear Interest at the dafault rate, if any,
<br />set forth in rhe Note, or otherwise at the highest rate permitted by law, and. irrespective of 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 more of the following;
<br />(e) Baneficiary may enter upon, talce possession of. manege and operete the Trusr Property or any part thereof; make repairs and
<br />alterations and do any acts which Beneficiary deems proper to protect the security thereof. and either with or without taking
<br />possession, in its own name, SUB lor or otherwise collect and receive rents, issues and profits, including those past due and unpaid,
<br />and apply the same, less costs and expenses of operation and collection, including reasonable attDmey lees and Beneficiary's
<br />costs, upon the Indebtedness secured hereby and in such order as Beneficiary may determine. Upon request of Beneficiary, Trustor
<br />shall assembte and shall malee availabte to Beneficiary eny of the Trust Property which has been removed. The entarlng upon and
<br />taJcing possession of the Trust Property, the collection of any rents, issues and profits, and the application thereof as aforesaid, shaff
<br />not cure or waive any default theretoforEt or thereafter occurring. or affect any notice of default Dr notice of safe hereunder or
<br />Invalidate any act done pursuant to any such notice. Notwithstanding Beneficiary's continuance in possession or receipt and
<br />application of rents, issues or profits, Beneficiary shall be entitled to exercise every right provided for in this Deed of Trust or by law
<br />upon or alter the occurrence of an Event of Default, including the right to exercise the power 01 safe. Any of rhe actions referred 10 in
<br />this paragraph may be taken by Beneflciery ar such time as Beneficiary may datermine without regard to /he adequacy of any
<br />security tor the Indebtadness secured hereby.
<br />(b) Baneficiary shalf, without regard to the adequacy of any security for the Indebtedness secured hereby, be en/lfled 10 the
<br />appointment at a receiver by any court having jurisdiction, without notice, tD take possession 0/, protoct, and manage the Trust
<br />Property and operate the same and collect the rents, issues and prolits therefrom
<br />(e} Beneficiary may bring any action in any cout1 of competent ;urisdiclion fo foreclose this Deed of Tn/st or enforce an... of the
<br />covenants hereof.
<br />
|