|
103197 d FLO 2ft5 fa-M)
<br />96-- PaYa 2 of s
<br />5. t arlterate TnOW. if Truator is a corporation, it wile do ail things necessary to preserve its corporate existence, rights ate!
<br />privileges g,under the lawn of the state of its incorporation.
<br />sr
<br />6. raesnse, Triptor, at ifs expanse, wile maintain with insurers approved by Beneficiary, insurance with respect to the
<br />improvantsrtb and personal property, constituting the Property against loss by fire, lightning. tornado, and other perils
<br />covered by etendird extended coverage ondorearro t in an amount equal to at Nast one hundred percent of the full
<br />rsplaament value thereof: and insurance against such other hazards and in such amount as is customarily carried by
<br />Burners and operators of similar properties and r 8ensffeiaHe s may require for its protection. TruMor will comply with
<br />such otfiK re**OromM as Beneficiary may from time to tine request for the protection by insurance of the interest of
<br />the respectfw perMes. All Insurance poticfM mai Bitted pursuant to this Trust Deed shall name Trustor and Beneficiary
<br />as insureds. l ss their respective ini . Imay appear. and provide that there shall be no cancellation or modification
<br />without fifteen drys prior written notification to Trustee and Beneficiary . In the event any policy hereunder is not
<br />renetved on or before fifNsn days priori itsexpirationdate. TrusteeorBereficiary may procure such ineuraloeandthe
<br />coat thereof shalt be added to the ban secured by this Trust Deed and shall bear intenwat the greater of the interest rate
<br />specified therein or the highest Interest raft authorized by the laws of the State Of Nebraska. Trustor shall deliver to
<br />Beneficiary the original policies of insurance and renewals thereof or memo copies of such policies and renewals
<br />thereof. Failure to furnish such insurance by Trustor, or renewals es required hereunder shall, at the option of
<br />Beneficiary, constitute a default AM uneamed premiumeare hersbyassigned to T tusteeas additional security and a saes
<br />and conveysnceof the Property by the Trustee shall operate to convey to the purchaser the Trustors interest in and to all
<br />policies of insurance upon the Property.
<br />Taxes east AasesomwdiL Trustor shall pay all taxes and special assessments levied or assessed against or duo upon the
<br />Property before delinquency, and will deliver to Beneficiary copies of receipts showing payment of such taxes and
<br />spacial aseessments. If Beneficiary shall so request Trustor agrees that than shall be added to each periodic payment
<br />requiredtobe made hereunderan amountestimated by Trusteoto be sufficient to enable Trustor to pay, at teast30 days
<br />before delinquency, all taxes, aseseenents or other public charges against the Property, the Note secured by this Trust
<br />Deed, or upon account of the debt or the lien of this Trust Deed, together with premiums for insurance required to be
<br />provided under this Trust Deed and no interest shall be payable to Trustor in respect thereof. Upon demand by Trustee.
<br />Trustor shall deliver to Trustee such additional sums of money as are necessary to make up any deficiency in the
<br />amounts necessary to enable Trustee to pay any of the foregoing items.
<br />8. AddNional LNne.Trustorshelf make all payments of interest and principal and payments of any other charges, fees, and
<br />expanses contracted to be paid to any existing lien holders or prior beneficiaries under any prior Trust Deed, Mortgage or
<br />other security agreement, before the data they are delinquent and to pay any other claim which jeopardizes the security
<br />granted herein.
<br />Pâșehsthn of 8weftWs SeewMy. Should Trustor fail to make any payment, fail to do any act es herein provided, or it
<br />any action or proceeding is commented which materially affects Beneficiary's interest in the Property, including, but not
<br />limited to, eminent domain, insolvency, arrangements or proceedings involving a bankruptcy or decedent lien
<br />foreclosures, then Beneficiary or Trustee but without obligation to do so, and without notice to or demand upon Trustor,
<br />and without releasing Trustor from any obligation hereunder, may make or do the same, and may pay, purchese, contest
<br />or compromise any encumbrance, charge or lien, which in the judgment of either appears to affect said Property; in
<br />exercising any such powers the Beneficiary or Trustee may incur any liability and expend whatever amounts, including
<br />disbursements of ressonable attorneys fees, which in their absolute discretion, may be necessary. in the event that
<br />Trustor shell fail to procure insurance or to pay taxes and special assessments or to make any payments to existing or
<br />prior lien holders or beneficiaries. the Beneficiary may procure such insurance and make such payments. All sums
<br />incurred or expanded by Beneficiary or Trustee in accordance with the provisions of this Trust Dead are secured hereby
<br />and, without demand, shall be immediately due and payable by Trustorand shall bear interest at the maximum allowable
<br />legal rate; provided, however, that at the option of Beneficiary or Trustee such sums may be added to the principal
<br />balance of any indebtedness secured hereby and shall bear the same interest as such indebtedness and shall be payable
<br />ratably over the remaining term thereof.
<br />10. Assignment of Ri rlh. Beneficiary shall have the right, power and authority during the continuance of this Trust Deed to
<br />collect the rents, issues and profits of the Property and of any personal property located thereon with or without taking
<br />possessign Of the Property affected hereby, and Trustor hereby absolutely and unconditionally assigns all such rents,
<br />issudeand profitsto Beneficiary. Beneficiary, however, hereby consents to the Trustors collection and retention of such
<br />rents, iasues and profits as they accrue and become payable so long as Trustor is not, at such times, in default with
<br />respect to payment of any indebtedness secured hereby or in the performance of any agreement hereunder. Upon any
<br />such default Beneficiary may at anytime, either in person, by agent, or by a receiverto be appointed by court, without
<br />notice and without regard to the adequacy of any security for the indebtedness hereby secured, (a) enter upon and take
<br />possession of the Property or any part thereof, and in its own name sue for or otherwise collect such rents, issues and
<br />profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection,
<br />including reasonable attorney tees, upon any indebtedness secured hereby, and in such order as Beneficiary may
<br />determine: (b) perform such acts of repair or protection as may be necessary or proper to conserve the value of the
<br />Property: (C) leap the some or any part thereof for such rental, term, and upon such conditions as its judgment may
<br />t icto!q, Jnleatr Trustor and Beneficiary agree otherwise in writing, any application of rents, issues or profits to any
<br />indebtedness Secured hereby shall not extend or postpone the due date of the installment payments as provided in said
<br />promissory note or change the amount of such installments. The entering upon and taking possession of the Property,
<br />the collection of such rents, issues and profits, and the application thereof as aforesaid, shall not waive or cure any
<br />default or notice of default hereunder, or invalidate any act done pursuant to such notice. Trustor also assigns to
<br />Beneficiary, as further security for the performance of the obligations secured hereby, all prepaid rents and all monies
<br />which may have been of may hereafter be deposited with said Trustor by any lessee of the Property, to secure the
<br />payment of any rent, and upon default in the performance of any of the provisions hereof, Trustor agrees to deliver such
<br />rents and deposits to the Beneficiary. Delivery of written notice of Beneficiary's exercise of the rights granted herein, to
<br />any tenant occupying said premises shall be sufficient to require said tenant to pay said rent to the Beneficiary until
<br />further notice.
<br />11. Leaned rreallose. Within ten (10) days after demand. Trustor shall furnish to Trustee a schedule certified to be true.
<br />setting forth ail Issues of space in the Property than in effect, including, in each case, the name of the tenants and
<br />occupants, a description ofthe spaceoccupied by such tenant and occupant, the rental payable for such space and such
<br />other information and documents with respect to such leases and tenancies as the Trustee may request.
<br />Without the prior written consent of Trustee, Truster shall not, directly or mai rectly, with respect to any tease of space in
<br />the described premises, who~ such less0 is now or nereaher in existence. (a) accept or permit any prepayment,
<br />discount Or advance rent payable thereunder; (b) cancel or terminate the same, or accept any cancellation, termination
<br />or lurfefldar thefeOf. Or permit any event tO Occur which would entitle the lessee thereunder to terminate or cancel the lr'i
<br />sauna: icl amend Of modify the Name so es to reduce the term thereof, the fantai payable thereunder, or to change any UII,.
<br />fWW" pfovis,ona thereon contained; (d) waive any default thereunder or breach thereat: !ai give any a '
<br />
|