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16. Covenants of Trustor with Respect to Leases. Without the p mx writer, consent of Beneficiary, Trustor shalt not, directiy or ;rd recr!y.
<br />with respect to any lease of space in the Trust Propet-r'. or aa: y 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 prc visions
<br />therein contained.
<br />(d) Waive any default thereunder or breach thereof.
<br />(e) Give any consent, waiver or approval thereunder or take any other action in connection therewith, or with a lessee thereunder, which
<br />would have the effect of impairing the value of the lessor's interest thereunder or the property subject thereto, or of impairing the
<br />position or interest of Beneficiary therein, or
<br />(� Sell, assign, pledge, mortgage or otherwise dispose of, or encumber its interest in any said lease or any rents, issues, profits issuing
<br />Q 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 deot, 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, all 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 nghts and privileges under the laws of the
<br />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 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 slid// 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 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. Notice. 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 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 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 given in the
<br />manner designated herein.
<br />24. Governing Law: Severability. This Deed of Trust shall be governed by the laws of the State of Nebraska. in the event any provision or
<br />clause of this Deed of Trust conflicts with applicable law, such conflict 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. thereinafter called an 'Event
<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 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 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 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 evidenced by the Note,
<br />(f) A trustee, receiver or liquidator of the Trust Property or of Trustor shaii be appointed, or any of the creditors of Trustor shalt liie 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 no: )e discharger' 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 if 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 its
<br />inability to pay its debts as they become due, or snail consent to the appointment of a receiver of all or any part of file Trust Property,
<br />(h) Final judgment for the payment of money shall be rendered against Trustor and Trustor shaft not discharge the same, or cause it to
<br />be discharged, within thirty (30) days after the entry thereof. or shalt not appeal therehorri 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 written, consent of 8eneficiary being first had and
<br />obtained, or
<br />(1) It Trustor is a corporation or partnership and more than fifty percent 150'o) of the shares or beneficial Interests in such corporation or
<br />partnership, as the case may be, sha /(be transferred or conveyed wnetner voiuniardy or invoiuntaniy, mrhout 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 the Indebtedness secured hereby immediately due and payable and the same shall bear interest at the detau!t rate, it 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 />may, at its option and in its sole discretion. without any further notice or demand to or upon Trustor, do one of more of the following,
<br />(a) Beneficiary may enter upon. take possession of, manage and operate the Trust Property or any par, tfiereol make repairs and
<br />alterations and do any acts which Beneficiary deems proper to protect the security thereof, and either wirh or without taking
<br />possession, in its own name, sue for or otherwise collect and receive rents. issues and profits, including those past clue and unpaid
<br />and apply the same, less costs and expenses of operation and collection, including eeasonabte errorney fees anti Beneficial y s
<br />costs, upon the Indebtedness secured hereby and in such order as Beneficiary n7ay determine Upon fegc ost of Brine. i¢: ar, i stet
<br />L shall assemble and shall make available to Beneficiary any of the Trust Property which has bee^ remo< Tne c q ;
<br />taking possession of the Trust Property. the collection of any tents, issues and prof ts and rho app? a o, nerei tic i a
<br />not cure or waive any default theretofore or thereafter occurring, or affect any nonce of defau? t or not ce of 1 i e . wvafldp, or
<br />invalidate any act done pursuant to any such notice. Notwithstanding Beneficiary s confr,ua ce -n possEtiat,n .Y <,:eip, m
<br />application of rents. Issues or profits. Beneficiary _.hail by c +o4ed to exert: Ise eVerr ot7l
<br />upon ar after the occurrence or ar• went of Default r ght tic exerese ., ,>owe _ A _
<br />this paragraph may oe taken by Benef ciary at suct; trrrie? as Bc tie.- .: ;any rnav
<br />security for the lndebredness seaired hereby
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