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87-101627
<br />16. Covenants of Trustor with Respect to Leases. Without the prior written consent of Beneficiary, Trustor shall not, directly or indirectly,
<br />with respect to any lease of space in the Trust Property, or any portion thereof, whether such lease is now or hereafter in existence:
<br />(a) Accept or permit any prepayment, discount or advance payment of rent hereunder in excess of one month,
<br />(b) Cancel or terminate the same, or accept any cancellation, termination or surrender thereof, or permit any event to occur which would
<br />occur thereunder to terminate or cancel the same, other than termination for nonpayment of rent,
<br />(c) Amend or modify the same so as to reduce the term thereof, the rental payable thereunder, or to change any renewal provisions
<br />therein contained.
<br />(d) Waive MWIMMwifeunder or breach thereof,
<br />(e) Give a& c e`nt. waiver or approval thereunder or take any other action in connection therewith, or with a lessee thereunder, which
<br />would fave4he effect of impairing the value of the lessor's interest thereunder or the property subject thereto, or of impairing the
<br />positiol Vlftterest of Beneficiary therein, or
<br />M Sex, assign, pledge. mortgage or otherwise dispose of, or encumber its interest in any said lease or any rents, issues, profits issuing
<br />or arising thereunder.
<br />17. Waiver of Statute of Limitations. Time is of the essence in all of Trustor's obligations and duties hereunder; and to the extent permitted
<br />by law, 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 />18. 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, ax right, title 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 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 all 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 />stale 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 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 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 Liability. Captions - The covenants and agreements herein contained shaft bind, and
<br />Me 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 />convenience only and are not to be used to interpret or define ,'he provisions hereof.
<br />23. Notice. Except for any notice required under applicable taw 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 m.&I. return receipt requested addressed to Trustor at its malting
<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 giver, by certified ,mail. rev r- receipt requested. to Beneficiary's and Trustee's maitrng
<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 the
<br />manner designated herein.
<br />24. Governing Law: Severabiliry. This Deed of Trust shall be governed by the laws a the State of Nebraska_ In the event any provision or
<br />clause of this need of Trust conflicts with applicable law, such conffrct shall not affect other 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 be severable_
<br />25. Events of Default. Each of the following occurrences shall constitute an event of default hereunder, (hereinafter called an "a-ent
<br />of Default,)
<br />(a) Trustor shall fail to pay when due any principal, interest. or principal and interest on the Indebtedness.
<br />- (b) Any warranty of title made by Truster 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 behalf of
<br />Trustor shall prove false or materially misleading,
<br />(e) Trustor shall fail to perform or observe any of the covenants, conditions or agreements contained in, or binding upon Trust-- 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 evidenced by the Note,
<br />{f) A trustee. receiver or liquidator 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 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 petition was filed.
<br />(g) Trustor shall file a petition pursuant to the Federal Bankruptcy Code or any similar law. federal or state, or it Trustor shall be
<br />adjudged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit of creditors, or shall admit in writing itss
<br />inability to pay ifs debts as they become due or shall consent to the appointment of a receiver of all or any part of the Trust Property_
<br />(h) Final judgment for the payment of money shall be rendered against Trustor and Trustor 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 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 />(i) Trustor shall sell or convey the Trust Property. or any part thereof, or any interest therein, or shall be divested of its title, or any interest
<br />therein, in any manner or way, whether voluntarily or involuntarily, without the whiten consent of Beneficiary being first had and
<br />obtained, or
<br />(� If Trustor is a corporation or partnership and more than fifty percent (500,;) 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 fhe indebtedness secured hereby ,immediately due and payable and the same shah bear interest at the default rate - if any,
<br />set forth in the Note, or otherwise at the highest rate permitted by law. and, irrespective of whether Beneficiary exercises said option_ 4
<br />may, at its option and in its sole discretion. without any further notice or demand to or upon Tnrstor, do one or more of the toxowirig-
<br />(a) Beneficiary may enter upon, take possession of, manage and operate the Trust 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 ewn name, sue for 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 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 />shall assemble and shall make available to Beneficiary any of the Trust Property which has been removed- The entering upon and
<br />taking possession of the Trust Property. the collection of any rents, issues and profits. and the application thereof as aforesaid, sha:i
<br />not cure or waive any default theretofore or thereafter occurring, or affect any notice of detaull or notice of sale hereunder or
<br />invalidate any act done pursuant to any such notice Notwithstanding Beneficiary's continuance in possession or receipt ai -,a
<br />application of rents, issues or profits. Beneficiary shall be entitled to exercise every right provided for in this Deed of Trustor by law
<br />upon cif after the occurrence of an Event of Default including the right to exercise the power of sale Any of the actnns rele,red rte _n
<br />this paragrapn nay be taken by Beneficiary at such time as Beneficiary may determine without reydro tome adequacy air ,ir>y
<br />r,ncunty for the Indebtedness secured fwrehy
<br />(b) ftrn fac,airy r,hali wi hnut reparrf tr') the adequacy of any sectmty tot the indebtedness se(i f. harm ; pc, rnnrtpct o, • ^ <.
<br />aphn,nrn,e.n• �)f a rrr,rver by any row' olaviny lures rift fion wRheut nc±tice_ 'u rake l O_"e,,,, _ rs -
<br />h.art� artt.i roherah+ floe .+nit • -flect rh" rent", f%sue" and prrrfils thl,rt.froo,
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