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ss 106896
<br />16. Covenants of Trusts with Respect to Leases. Without the prior written consent of Benj'1; , Trustor shall 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 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, of accept any cancellation, termination or surrender thereof, of 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 thereol, 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 imparing 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 />(0 Salt, assign, pledge, mortgage or otherwise dispose of, or encumber its interest in any said lease or any rents, issues, profs issuing
<br />or arising thereunder.
<br />17. Waiver of Stadde of Limitations. Time is of the essence in all of Trustor's obligations and duties hereunder; and to the extent permitted
<br />bylaw, Trustor waives all present or future s- elutes of gmitabms 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, fide 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 Patnershfp 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 tight or remedy hereunder, or otherwise
<br />afforded by applicable law, shag not be a waiver of or preclude the exercise of any such tight 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 tight to
<br />accelerate the maturity of the Webtedness.
<br />21. Remedies Cumulative. Ali 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, independentfy or successively.
<br />22. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and
<br />Me rights hereunder shag inure to, the respective successors and assigns of Beneficiary, Trustee, and Trustor. All covenants and
<br />agreements of Trustor shag 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 shag 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 shalt be deemed to have been given to Trustor, Beneficiary or Trustee when given in the
<br />manner designated herein.
<br />24. Goveming Law; Severabikry. This Deed of Trust shag 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 shag constitute an event of default hereunder, (hereinafter called an "Event
<br />Of Default "):
<br />(a) Trustor shag fail to pay when due any principal, interest, or principal and interest on the Indebtedness.
<br />(b) Any warranty of tide made by Trustor herein shall be untrue,
<br />(G) Trustor shag fait 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 fah 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 Trusts in connection with the loan evidenced by the Note,
<br />(1) 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 tiled,
<br />(g) Trustor shag file a petition pursuant to the Federal Bankruptcy Code or any similar law, federal or state, or if Trustor shag be
<br />adjudged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit of creditors, or shall adroit 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) Finaf judgment for the payment of money shaft be rendered against Trustor and Trustor shag not discharge the same, or cause it to
<br />be discharged, within tarty (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 shag sell or convey the Trust Property, or any part thereof, or any interest therein. or shall be divested of its tide, 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)
<br />If Trustor is a corporation or partnership and more than fifty percent (509/6) of the shares or beneficial interests in such corporation or
<br />parnrership, as the case may be, shag the transferred or conveyed, whether voluntarily or invoiurtanly, 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 ON 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 Trusfor, 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. sure for or otherwise collect and receive rents, issues and profits, including those past due and unpaid,
<br />and apply the sane, loss costs and expenses of operation and collection, including reasonable attorney fees and Beneficiary's
<br />cogs, upon the Indebtedness secured hereby and in such order as Beneficiary may determine. Upon request of Beneficiary, Trustor
<br />shaft assemble and shalt make available to Beneficiary any of the Trust Properly 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 thereof as aforesaid, shall
<br />not cure or Waive any default theretofore or thereafter occurring, or affect any notice of default or notice of safe hereunder or
<br />invalidate any act done pursuant to any such notice. Notwithstanding Beneficiary's continuance in possession or receipt and
<br />appgc~ of rents, issues or profits, Beneficiary shag be entitled to exercise every right provided for in this Deed of Trust or by law
<br />upon of alter the Occurrence of an Event of Default, including the right to exercise the power of sale. Arty of the actions referred fo m
<br />this paragraph may be taken by Beneficiary at such time as Benshciary may determine without regard to the adequacy of any
<br />security for the Indebtedness secured hereby.
<br />(b) time/ ery shale. without regard fo the adequacy of any security for the Indebtedness secured hereby, be entailed to the
<br />appoOttinerif of a ewer w by any court having jurisdiction. without notice, to rake lhossess+on of. I'vorect. and.manage. ;tie T rus!
<br />Property end operate ore same and collect the rents, issues and Proms therefrom
<br />;c) Benehciavy may bring any action in any cart of compe/ent vxiscYictiov to ftv kmse this 1>eed ,'f Trust 1,r wfto'cct H ,y o, the
<br />covenants hereof
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