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" 200708621 statutoI)' provisions or foreclosure of a prior mortgage or Trust Deed, then the Lender, at it's option, upon such notice to Borrower as may be required by law, may make such appearance, dispose of such sums and take any action necessal)' to protect Lender's interest, including but not limited to, disbursement of reasonable attorneys fees and entI)' on to the real property. In the event of any default hereunder and whether or not an action is instituted to enforce this Trust Deed or the Note, Borrower promises to pay to the Lender any reasonable sum for costs incurred in good faith by I,ender. The Borrower shall be liable to I,ender 11)f repayment of said amounts together with interest at the highest legal rate not to exceed eight (8) per cent. 10. No Waiver. Acceptance by Lender of any sums from Borrower or any other person after the same is due shall not constitute a waiver of the right to require full payment or to declare default. The acceptance by Lender of any sum in an amount less than the sum due shall be deemed an acceptance on account and shall not constitute a waiver. 11. Assienment of Rents and Possession. As additional security for any or all of the obligations contained in this Agreement, Borrower hereby assigns and gives a security interest to the Lender in any or all present, future, or after arising rents or leases in the described premises. It shall not be necessaI)' for the Lender to take actual or constructive possession or control of the real estate or rents rdated thereto, to secure the appointment of a receiver or to take any action tantamount to taking of such possession or control. Bon'ower acknowledges that this assignment is perlected upon the recording of this Deed of Trust and that Lender is entitled to notify any of Borrower's tenants to make payment of rents due or to become due to Lender. However, Lender agrees that only on default will Lender notity Borrower or Borrower's tenants and make demand that all future rents be paid directly to Lender. On receiving the notice of default, Borrower will endorse and deliver to Lender any payments of rent in Borrower's possession. The Lender may enforce the security interest in rents and leases in any manner allowed by law. Borrower wi II promptly provide Lender with true and correct copies of all existing and filture Leascs. Borrower may collect, recei ve, enjoy and use the rents so long as Borrower is not in det1.mlt. Borrower will not collect in advance any rents due in future lease periods, unless Borrower first obtains Lender's written consent. Upon default, Borrower will receive any rents in trust for Lender and Borrower will not commingle the rents with any other funds. The Lender has discretion to use the rents and prol1ts for the purposes of paying any accounts or debts mentioned under this Trust Deed, if said accounts or debts are not paid by Borrower. Lender shall also have the right to apply such rents to any costs of management of the property and costs rdated to the collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's tees. 12. Transfer of Real PrODertv. I f the Borrower should, without written consent of the Lender, sell, transfer encumber or alienate the real property or any part thereof: whether voluntaI)' or involuntarily, then the I ,ender shall have the right to declare all indebtedness and obligations secured by this Trust Deed, immediately due and payable. No secondary financing of any kind shall be allowed with respect to the real property without written approval of the Lender, provided such approval shall not be unreasonably withheld. 13. Remedies Cumulative. All remedies provided in this Trust Deed are distinct and cumulative to any other right or remedy under this Trust Deed or afforded by law or equity and may be exercised concurrently, independently or successively. 14. Default and Remedies. As expressly agreed by Borrower, in the event of Borrower's failure to comply with each and all of the conditions in this Trust Deed or Note or any other instruments affecting the loan secured herehy, timc bcing of the essence, then the filII amount secured hereby shall become due and collectible at once. The Lender shall have the right to proceed to enforce the liquidation, which is secured herein, by mortgage foreclosure or Trustee's Sale without further notice other than provided by Nebraska law. The Borrower will have those remedies and only those remedies, available under Nebraska law or specifically mentioned in this Trust Deed. 15. Method of Trustee Sale. If Trustee sale is elected, the Trustee, at the written request of the Lender, may sell the property in the manner provided in the Nebraska Revised Statutes, including amendments, with such right of postponement of sale as the Trustee shall deem best I'or the interest of all parties concerned. The Trustee shall convey to the Purchaser in such sale the Trustee's title and all right and title of the Borrower to the real property. The purchaser shall be discharged of all liability for the application of the purchase money once sent to the Trustee. The Trustee shall apply the proceeds ofthe sale, first to the expenses of sale; then to all taxes and assessments due the City of Grand Island; thence to all sums advanced by the Lender as provided in this Trust Deed together with any interest; thence to the Trustee's costs of reasonable attorney's fees and costs oftitle evidence; thence to the payment of the indebtedness and obligations secured by this Trust Deed together with any interest and thence to the payment of all other 'I'rust Deeds, mortgages and liens junior to this Trust Deed. Any proceeds of the sale in excess of the amounts so applied above shall be paid to the Borrower or senior lienholder. 16. Substitute Trustee. The Lender has the irrevocable power to appoint a substitute Trustee without specifYing any reason therefore, by following the procedures outlined in Section 76-1004 of the Nebraska statutes.