|
"4
<br />m
<br />1
<br />rw-
<br />O
<br />I 10178
<br />16. Co of Trustor with Respect to Lasses. Without the prior written consent of Beneficiary, Trusfor shall not directly or indirectly,
<br />w* respect to any /owe of some in the Trust Prop", 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 canceffatkon, termination or surrender thereof, or permit any event to occur which would
<br />occur thefounder to terminato or cancel the saute, other than termination for nonpayment of rent,
<br />(c) Amend or modily the same so as to reduce the term thereof, the rental payable thereunder, or to change any renewal provisions
<br />therson
<br />(d) Waive any default thereunder or breach thereol,
<br />(a) litre any consent, waive or approval thereunder or take any other action in connection therewith, or with a lessee thereunder, which
<br />WOW have the affect of knpairing rte value of the lessor's interest thereunder or the property subject thereto, or of impairing the
<br />position or tritdrest of Beneficiary therein, or
<br />(f1 Sad aossV, pledge, mortgage or otherwise dispose of, or encumber its interest in any said lease or any rents, issues, profits issuing
<br />or ansing thereunder.
<br />17. ►Yww of Stakes of Limitations. Time is of the essence in alt of Trustor's obligations and duties hereunder.- and to the extent permitted
<br />by few, Truster waives a# 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 en€orcing tftis 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 , all right, NO and interest to any and all
<br />monies deposited by or on behalf of Trusts 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 />state of its incorpaehon 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, she# 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 tine discharge of lions or charges by Beneficiary shall not be a waiver of Beneficiary's right to
<br />accelerate the maturity of the Indebtedness.
<br />21. Remedies Culnulative. AN 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 shall bind, and
<br />the rights hereunder shall inure to, the respective successors and assigns of Beneficiary, Trustee, and Trustor. All covenants and
<br />agreemera 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. Ak*ce. 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 at its mailing
<br />address set lath above or at such other address as Trustor may designate by notice to Beneficiary as provided herein, and (b) any
<br />nee 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 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 groan in Iha
<br />mariner designated herein.
<br />24. Governing Law; Severabdify. This Deed of Trust shall be governed by the laws of the State of Nebraska. In the event any provision or
<br />clause of des Deed of Trust con#icts with appkcable law, such conflict shall not affect other provisions of this Deed of Trust which can
<br />be given eNeCt 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 shag constitute an event of default hereunder. (hereinafter called an "Event
<br />of Default'):
<br />(a) Trustor she# fad to pay when due any principal, interest, or principal and interest on the Indebtedness,
<br />(b) Any warranty of tide made by Trustor herein she# be untrue,
<br />(c) Trustor shall fad 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 shelf fad to perform or observe any of the covenants, conditions or agreements contained in, or binding upon Trustor under
<br />any building hoer agreement, security agreement, loan agreement, financing statement, or any other agreement, instrument or
<br />document executed by Trustor in connection with the ban evidenced by the Note,
<br />(f) A trustee, receiver or &quidefor of the Trust Property or of Trustor shall be appointed, or any of the creditors of Trustor shall file a
<br />pettlori 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 it 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 bled.
<br />(g) Trustor shall No a petition pursuant to the Federal Bankruptcy Code or any similar law, federal or state, or if Trustor shag be
<br />adftmiged a bankrupt, or be declared insolvent, or shall 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 shelf 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 shag 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 pudgment was grantee, based, or entered, and secure a stay of execution pending such appeal,
<br />(i) Treanor 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 invokuntarily, without the written consent of Beneficiary being first had and
<br />or
<br />0) t Trustor a a corporation or partnerstop and more trap fifty percent (5M) of the shares or beneficial interests in such corporation or
<br />pentriership, as the case may be, shall be transferred or conveyed, wtiether voluntarily or involuntarily, without the written consent of
<br />ay 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 />dechwe all the Indebtedness secured hereby immediately due and payable and the same shaft 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, it
<br />ma, at its ophor► and in 49 sole discretion, without any further notice or demand to or upon Trustor, do one or more of the following;
<br />(a) Beriefficiary may elver upon, take possession d, manage and operate the Trust Property or any part thereof; make repairs and
<br />and do any acts which Beneficiary dooms proper to protect the security thereof, and either with or without taking
<br />in #s own name, sue k r or otherwise collect and receive rents, issues and profits, including those past due and unpaid,
<br />and apply rte same, toes casts and expenses of operation and collection, including reasonable attorney fees and Beneficiary's
<br />upon tN Indebtedness secured hereby and in such order as Beneficiary may determine. Upon request of Beneficiary, Trustor
<br />shelf 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 profs, and the application thereof as aforesaid, shall
<br />net Cure or way any default theralotbre or thereafter occurring, or affect any notice of default or notice of sale hereunder or
<br />Wivaildate any act done pursuant to any such notice. Notwithstanding Beneficiary's continuance in possession or receipt and
<br />of rants, issuds or proft, Herteficiary she# be entitled to exercise every right provided for in this Deed of Trust or by law
<br />upon or after ire occurrence of an Event of Default, including the right to exercise the power of sale. Any of the actions referred ro in
<br />Oft parogtoph may be taken by Beneficiary at such time as Beneficiary may determine without regard to the adequacy of any
<br />security liar the Indebtedness secured
<br />( d to the adequacy of try security for the Indebtedness secured hereby, be entitted to the
<br />appointment of a receiver by any court having junsdicoon, without notice, to take possession of protect. and manage the 'rust
<br />OhyipeOy and operate the sarne and collact the rems, issues and profile therefrom.
<br />(c) Beneficiary may brM any action in any coon of competent lounsdiction to foreclose this lved of 1ru`t iir rhnfoice any of (he
<br />c .
<br />
|