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85004553
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85004553
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Last modified
10/18/2011 1:01:12 AM
Creation date
4/1/2008 5:00:30 PM
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DEEDS
Inst Number
85004553
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85-- 004553 <br />above the rate of interest then charged by the Trustee on <br />90 -day commercial loans to its prime commercial borrowers <br />but in no event at a rate less than nine percent (9 %) per <br />annum until paid, and all such sums and the interest thereon <br />shall be immediately due and payable and shall be added to <br />and become part of any indebtedness or obligation secured <br />hereby in such manner or order as the Trustee may desire to <br />determine, and be secured hereby, having the benefit of the <br />lien hereby created and of its priorities. <br />Section 16. Litigation. If any action or proceed - <br />ings be commenced, to which action or proceeding the Issuer <br />or the Trustee is made a party by reason of the execution of <br />this Mortgage or the Notes, or in which the Trustee deems it <br />necessary to appear or answer in order to uphold the lien of <br />this Mortgage or the priority thereof or the possession of <br />the Project, or otherwise to protect the interest of the <br />Issuer or the Trustee or security hereunder, all sums paid <br />or incurred by the Trustee for attorney fees and other <br />expenses in such action or proceeding shall be repaid by the <br />Borrower, together with interest thereon from the date of <br />payment by the Trustee at the rate contained in the Notes, <br />and all such sums and the interest thereon shall be immedi- <br />ately due and payable and shall be added to and become a <br />part of any indebtedness or obligation secured hereby in <br />such manner or order as the Trustee may desire to determine, <br />and be secured hereby, having the benefit of the lien hereby <br />created and of its priority. <br />Section 17. Severability. If any provisions hereof <br />should be held unen orceable or void, then such provision <br />shall be deemed separable from the remaining provisions and <br />shall in no way affect the validity of this Mortgage. <br />Section 18. Security Interest. An express security <br />interest is hereby granted to the Issuer and the Trustee in <br />respect to any part of the Project which under Nebraska law <br />might now or hereafter be construed or considered as per- <br />sonal property and this Mortgage shall constitute a security <br />agreement in respect thereto. <br />Section 19. Choice of Law. This Mortgage and the <br />Notes secured hereby shall be construed and enforced accord- <br />ing to and governed by the laws of the State of Nebraska. <br />Section 20. __Mo_�rtg�age of the Project. The Borrower <br />will not, now or in t� future, mortgage, pledge or encumber <br />or place any lien or encumbrance (or permit same to exist) <br />on the Project, as defined in this instrument, or any part <br />thereof without the prior written consent, of the Trustee, <br />except for this Mortgage or Permitted Encumbrances as <br />defined in the Agreement. <br />-15- <br />R <br />
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