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86- i ®D9
<br />16. Covenants of Trustor with Respect to Leases. Without the prior written consent of Beneficiary, Trustor shall not, der y 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 m 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 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 />(r) Sell, 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, 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 rights 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 shall 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 shag 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 taw, 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, (hereinafter called an "Ever,(
<br />of Default"):
<br />(a) Trustor shall fail to pay when due any principal, interest, or principal and interest on the Indebtedness,
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<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 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 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 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 arty 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 Beneficiary being first had and
<br />obtained, or
<br />(j) If Trustor is a corporation or partnership and more than fifty percent (50 %) 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 involuntarly, 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 alf the indebtedness secured hereby immediately due and payable and the same shall 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 />may. at its option and in its sole discretion, without any further notice or demand to or upon Trustor, do one or more of the following:
<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 own 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 rttake available to Beriefrciary any of the Trust Property which, has been removed The entering upon and
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<br />taking possession of the Trust Property. the collection of any rents, issues and profits, and the f}. pit canon grereo/ as aforesaieY, shalt i
<br />riot cure or waive any default theretofore or thereafter occurring, or affect any nottce of default or iotwv of saie hereunder or J
<br />invalidate any act done pursuant to any such notice Notwrrhstanwng Henehct t y'S onhnuance z ) SSOss, nor e c opt and
<br />application of rents, issues or profits, Benehctary Shall be enwletl - £: werC se. evervright t n'! (le (7 Or r",is Of ed i-it Tr s' or t y - m
<br />Upon Of after the occur fence Ut air Fvertt Or (let tuir tncitioong the e xe r tso t£ e r )oAver f -t ae Pons �W E ,f
<br />this paragraph may be taken by f3 rlef.ciary at sucti rlrri(> as tier £; he",a v nay (Yetw r (' ,� -.(ne I ( 4rt1 ( !? JIU( v!- a( }. ''t
<br />secunty fop the lndefileiYness EP, i. 11rPU hereby.
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