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r L 12.4884/4X 84..... ..318 17 . Fixture Financin~ Statement: This Deed of Trust _ U1tttn~ecl. to be a financing statemon witbfn the purview of the NebJ!'.......,~. ...... Commercial Code with respect to those items of 8UC!t~<., conatitute fixtures on the Real Sstate. The addl'e..of,<.~: and Beneficiary (Secured Party) are set forth on the Deed of Tl'Wlt. This Deed of Trust is to be ftJAKl.. ....... Register of Deeds of Hall County. Nebraska "he1!e.ttie located. Trustor is the record owner of the real eatate. 18. Substitution of Trustee: That Beneficiary may.. time. by instrument in writing. substitute a liIuooeaaw<or' any Trustee named herein or acting hereunder, w executed and acknowledged by Beneficiary and recorded the register of deeds of the county or counties "here situated, shall be conclusive proof of proper substltU./ Trustee or Trustees. who shall. without conveyance from...> predecessor, succeed to all its title, estate, rights. power and~. 19, Debt Coverage: Trustor shall be deemed to be iA~; under this Deed of Trust in the event that (a) the differencebef;"..~: the "first year's gross operating revenues" and the "operatiA.~~". for the Real Estate for the first year of operation are not. .at .leaat~ .. hundred twenty percent (1201) of the "debt service" for such perlOdUl(l' (b) a "major motel" franchise affiliation is not in effect for the. opera~.il of tht; Real Estate. effective on the first day of the fiftelmth mcmtb n._ ......_._,~"_ ,.___._.... _. _ _ _.____ "''1-._ .n_ _ _____ _so._ _.a - 1t" . year of operation" shall mean a period of twelve (12) consecuti... months. beginning on the first day of the month following the month>in which at least ninety percent (901) of the proceeds of the loan evidenced by the PromisliOry Note secured hereby are disbursed. The term "major motel" franchise affiliation shall mean a motel license agreement whereby the Trustor becomes licensed as an affiliate of a motel referral service 01' chain which has similar licenses in effect covering not less than seventy-five hundred (7,500) motel/hotel rooms in at least twenty-five (25) states of the United States and which is issued by a licensor having a tangible net worth of not lesa than $25.000.060.00. The term "first year's gross operating revenues" shall mean the total of all revenues and receipts generated by or received (on a cash basis) with respect to the operation of the Real Estate, which shall in!!lude. without limitation. all rent, additional rent. license fees. royalties. vending machine income. rl:venues from rooms, parking and concessions. proceeds from rental loss 'nd business interruption insurance. and interest. dividends and other jr,oome earned by Trustor on security deposits. prepaid rent and other de1)osits and reh Itea derived and actually collected from the operation of the Real Estate (and which Trustor is not required to pay to the party who delivered such funds to Trustor); provided. however. that the following shall be excluded from gross operating revenues: <a> retundable security and similar deposits received from tenants and guests occupying the Real Estate; (b) proceeds, awards or other compensation received in connection with any transfer of a fee interest in the Real Estate 01' the taking of the Real Estate. or any portion thereof. in condemnation or eminent domain proceedingsj (c) insurance proceeds paid to Trustor in connection with any damftJc or destruction of Improvements on the Real Estate; and (d) amounts received by Trustor in reimbursement of expenditures expressly excluded from "operating expemuw, " "Operating expenses" shall mean the total of all ordinary and ne(~ell8ary reasonable expenditures with respect to the ownership. operation. leasing. mltintenance and repair of the Real Estate (other than the l'lpecific excluoions set forth below), including, without limitation. the following: (a) insurance premiums Ilnd all other similar third party payments and costs requircd by or expended pursuant to th.) Promisl!IOry Note. D(lcd of Truet or other instrument or IIgreement evidencing 01' s~!cur'ing the IOlin secured hy this Deed of Trust; (b) real ootste tU~<<l, genI:l!roI IU'H\ special IlllllCasmtmt!il I:md water a.nd sewer renb. If IUi)'. paid with I'f>!lped to the Heal El:ltllte: ((~) utility dlNl'gel'l and c~OliIh pllid In (~'.mn",ctioll with the Renl Estate; (d) bona nde rUlWlll'lble ()pcruting eXptm~e!l ehorgeilhle to the operAtion of tht! Heal ~:nt8te. including' COlitis of routine mll.lntf'!llllnCe !lnd l'('poll'. ehargt'''' fol' !:lallnin~ line! elmming f'lUPlllh"6. nmploycc IHeplmall, lInem'!, adv(!rt1sing cOllihi. Willies l'ormnhullolHiI lInd prnmotionld oxpcnlillil. 11lI1ds('l\pinff Ilnd Iiflu'c!,mlnK u,lIoeillttld with IIH' oporlltioll of the !lOll] Estllt!). f,"les tRl(()!I 1m'! wl oth~'r IlIlPIi,'lIble !ltate 11Itd 101'nl tIlXt'!! (hut ""dudll1~ in"ome 10 r.....,....,.....,......... "" "'" -.1