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86- 104934
<br />16. Covenants of Trustor with Respect to teases. Without the prior written consent of Beneficiary. Trustor shalt 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 existences
<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 />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 velue of the lessor's interest thereunder or the property subject thereto, or of impairing tfte
<br />Positio n or interest of Beneficiary therein, or
<br />(1J
<br />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 />Yr Waiver of Statute of Limitations. Time is of the essence in all of Trustor's obligations and duties hereunder: and to the exteritpermitled
<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 />tS' 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 aff
<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, or Partnership Existence. If Trustor is a corporation, general partnership, or limited partnership, it will do ail 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 tight or remedy nereunder. 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 hens 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 LiabArty: Copt ons. The covenants and agreements herein contained shall bird! and
<br />the rights hereunder shalt inure to, the respective successors and assigns of Beneficiary. Trustee. and Trustor. AN covenants and
<br />agreements of Trustor shah 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 trite. preit or define the provisions hereof
<br />23. Notice. Except for any notice required under applicable taw to be given in another manner, (a) any notice to Truster 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 torah above or at such other address as Trustor may designate by nonce to Beneficiary as provided herein and (b) any
<br />notice to Beneficiary or Trustee shall be given by cernfred 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 Trusfor 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 ffte
<br />manner designated herein.
<br />r 24- :Governing taw,- Severability. This Deed of Trust shaft be governed by the laws of the State of Nebraska In the event any prttvisrctr 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 fit..
<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 "Event
<br />i of Default
<br />(a) Trustor shall fail tc pay when due any principal, interest ,r 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 />( Any representation or warranty made by Trustor an any financial statements or reports submitted to Beneficiary by or on behalf of
<br />Trustor shall prove false or materially rr sleading,
<br />(e) Trustor shah fail to perform or observe any of the covenants, conditions or agreements contained in, or binding upon Trustor urxfer
<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 £tie Note,
<br />(f) A trustee, receiver or liquidator of the Trust Property or of Trustor shaft be appointed, or a. ry of the creditors of Trustor shalt hie a
<br />petition in bankruptcy against Trustor, or for the reorganizabon of Trustor pursuant to the Federal Bankruptcy Code, or any simian
<br />law, whether federal or state, and if such order or petition shall not be discharged or dismissed within thirty (3)1 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 sham be
<br />adiudged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit of creditors, or snaff adrut in writing As
<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 Properly,
<br />(h) Final Judgment for the payment of money snail be rendered against Trustor and Trustor strap not discharge the same, or cause rt to
<br />be discharged, within tniry (30l 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 pendmg such appeal
<br />Ci) Truster shall sell or convey the Trust Property, or any part thereof, or any interest therein, or shall be divested of as pee, 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 />a) If Trustor ;s a corporation or partnership and more than fifty percent (501'o) of the shares or beneficial inieresitsir s ucn corporation, or
<br />partnership, as the case may be, shall be transferred or conveyed, whether volumarly or involuntarily, without v`* written corise ttof
<br />Beneficiary being first had and obtained-
<br />2. 6. - Acceleration of Debt, Foreclosure. Upon the occurrence of any Event of Default, or any tome thereafter. Beneficiarv, mav, atrls ottbon.
<br />declare all the Indebtedness secured hereby immediately oue and payable and the same shall bear interest at the default rate, if airy.
<br />set forth in the Note, or otherwise at the highest rate permitted by law. and. irrespective of whether Beneficiary exercises said option, a
<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 tailing
<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 Benehcaary, Trustor
<br />L 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 thereat as aforesaid. shalt
<br />- - - _ - not cure or waive any default theretofore or thereafter occurring, or affect any nonce of default or notice of sale rieraiunder Car
<br />invalidate any act done pursuant to any such notice- Notwithstanding Senehciaty ;s continuance in possess on or receipt and
<br />application of rents. issues or profits. Beneficiary shelf be entitled to exercise every right provided for in ff-1s Deed ,)O Trust i7r by law
<br />upon or after the occurrence of an Event of Default, including trio right to exercise the power of sate .art . >` he ac s °O-Wed to in
<br />this oaragrapli may be taken by Beneficiary, at such :tine as Benahc�anf may deters e w,':rr;ut reuarct
<br />securely for flip indebtedness secured hereby
<br />(bi fienehnary, ,,halt with our regarY to the adequacy r t any secorty, for the initehtadr;e, s: , -tr, i.rrtr heft/ by. bt c, -tar =^ V,,
<br />npper=rrtnwnl Of a sec t>lv-e+ by nr1r. r 6nN .Mavrng )u-ns ii,har" worthput !7i4 "nt to take dK
<br />Properly wiff ooioerAty fhv ,<trro and tT4 pct trio lonis is sues and profit.,
<br />rC) tiv -,hi r„ 'r r d`r' tinily iliii Ow7 of ( oMppten, ilrr:_idrl. had„ : -
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