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<br />83-001055
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<br />and, without demand, shaH be Immediately due and payable by T'ustor and shall
<br />bear Inlerest at, the maximum al!ljlwable if!gat rate: provIded. howlJ..er, thai at the
<br />opllon of Beneficiary or trustee, such sums may be added to Ihe principal balance
<br />of any indebtedness secured hereby and shall bear thf! ,>amf' IntereSl as such
<br />indebtedness and shall be payable ratably over the remaining term thereot
<br />
<br />r
<br />
<br />10. As.lgnment 01 Rents. Beneliciary shall havE" lhe rlgh!, power and authority
<br />during the continuance JOI this Trust Deed 10 collect the renls. lSSUl'JS and proms of
<br />the Property and 01 any personal property localed thereon WIth or wl1hQul taking
<br />possession of the property affected hereby and Trustor hereby absolutely and
<br />uncondltlonally assigns all such rents. issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to the Trustor's coliection and retenllon 01
<br />such rents, Issues and proms as they accrue and become payable so long as
<br />Trustor Is not, al such limes, in default with respect to payment of any
<br />indebtedness secured hereby or In the performance 01 any agreement hereunder
<br />Upon any suCh default, Beneficiary may at any lime, either in person. by agent, or by
<br />a recelyer to be appointed by a court, without notice and without regard to !t19
<br />adequacy of any securlly for the Indebtedness l1ereby secured. la} enter upon and
<br />take possessIon of the Property or any partthefeof, and In Its own name sue for 01
<br />otherwise collect suCh rents, Issues and profits, Including those past due and
<br />unpaid, and apply the same, tess costs and expenses 01 operation and collection,
<br />InclUding reasonable attorney fees. upon any Indebtedness sec~reCl hereby, and In
<br />such order as Benellclary may determine: (bl perlorm suCh acts 01 repair 01
<br />protection as may be necessary or propef to conserve the value of \he Properly; (el
<br />leass Ihe same or any part Il1ereof for such renlal. term, ilnd upon suc." cOT\dihons
<br />as lis judgement may dictate_ Unless Trustor and BeneficialY agree otl1erwlse in
<br />writing, any applicallon of renls. 'ssues or profits to any Indebtedness seclJred
<br />hereby shall not extend or postpone the due date of Ihe installment payments as
<br />provided In said promissory note or change the amOlint of such Installments_ The
<br />entering upon and taking possession of the Property, the COllectIOn ot such renfs
<br />Issues and proflls, and the application thllreof as aforesaid. shall not waIVe or cure
<br />any default or nolle!! 01 defaull hereunder. or invalida.te anv act done pursuant t~
<br />such notice. Trustor arso assigns fO BenefiCiary. 3S further security lor the
<br />performance of the obligations secured hereby all pn:mald rents and ail l110nles
<br />whIch may have bean or may nerealllH oe deposued Wlltl said Trustor Cy any lEssee
<br />of the Property. to secure the oayment of any 'en!. :md uoon aelault m tn€'
<br />performance of any ot the prOVISionS heleo( Trustor agrees to del,...er sucl1 mnlS
<br />and deposits to the Benetlciary Dellyery of wrlllen nOllce of Ihe Bene!!(:iary's
<br />exercIse 01 the tights granteQ herem, to any tenant OCCUPYing said premIses shall
<br />be suffictent to require said tenant to oa.v saa1 rent to :Ile Bene!lclarv unt,) IJ.'ther
<br />nollce.
<br />
<br />11. L...M1 Prtlm..... Wltl1ln 10 days after demand, Truslor shall furnish to Trustee
<br />a schedule certlfled to be true, setting forth all leases of space In Il1e Trust
<br />Property then In effect, including, in each case, the name of the tenants and
<br />occupants, a descripUon of the space occupied by such tenant and occupant. the
<br />rental payable for such space and such other Informat!on and documents wllh
<br />respect to such leases and tenandes as the Trustee may request.
<br />
<br />Wlthoul the prior written consent 01 Trustee. Trustor shall not. direCtlY or
<br />Indirectly, with respec. 10 any lease of space In the describea premises, wnetner
<br />such lease Is now or hereafter in 8xlstence: (al accept or permit any prepaymert
<br />discount or advance rent payable thereunaer, (b) cancel or terminate the same. or
<br />accept any cancellation, termination or surrender thereof, or PfHmlt any 8Y'en! 10
<br />occur which would enlltle the lessee thereunder to termtnate or cancel the same. (Cl
<br />amend or modify the same so as to reduce tne term thereol. tne rental pavable
<br />thereunder, or to change any renewal provisions tl1ere,n contained; (0\ waive any
<br />default thereunder Or breach thereof; Ie) gIVe any consent. walVEH or approval
<br />thereunder or take any other acHon in connectIon thereWIth. or ..llh a lessee
<br />thereunder, whiCh would have the effect of impairing the value 01 lessor'S interest
<br />thereunder, on the Property subject thereto. or of impairing the peSlt!on or mterest
<br />of the Trustee or BenefiCiary; or (f) sell. assign. pledge. mortgage or otherwise
<br />dispose of, or encumber, 115 Interest lfl allY such lease or any renlS. Issues or prollls
<br />ISlIulng or arising thereunder
<br />
<br />12. Condemn.tlon, If title to any pat1 of the Property shail be taken In condemnation
<br />proceedings, by right of eminent domatn or similar action, 6r shail be sold under
<br />threat of condemnation, all award~. dama~s and proceeds are Mereby assigned
<br />and shall be paId to Beneflclary who shall apply such awards, damages and
<br />proceeds to the sums secured by the Trust Deed. WIth the 8)(CeSS, If any. paid to the
<br />Trustor. Trustor will promptly, and WIth due diligence, repa\T. slier 3'lC reslO. tl the
<br />remaining part of the Trust Property to Its former condition substanllally to the
<br />extent that the same msy De feasfble ana so as 10 constitute a complete snd usable
<br />unll
<br />
<br />13. FutuM Adv.l'iCft&. Upon raquest of Trustor, Beneflctary, at Benelic,ary's option,
<br />prior to reconveyance of Ihe Property to the Trustor. may make future advances to
<br />the Trustor. Such fulure advances, with IntereSI thereon. shall be secured by thiS
<br />Trust Deed when ell'!danceQ by promissor; notes statlng that sau:l l"otes are
<br />secured httreby; provided that at no time shaH the secure\l principal, future
<br />advances. nol InCluding sums aavance<l 10 prolSCI tne seeunl}', exceed one
<br />hundred. percent (100% lot Ihe origina.l princIpal amQunt~ secloHeO hereby
<br />
<br />1-4. R....c... Cumulatl.,.. All r8lTledl6s prOVided In this Trust Deed .H8 dlstlnCI arm
<br />curnulatl"o to any other rlghl or remedy under this Trust Deed or alloro9d by law O!
<br />equity, and may beoxsrCls&d concurrently, independently or succeSSively
<br />
<br />1S, ~tlon; R~iIIII; s.... Upon default by Trustor In tile paymem 01 any
<br />Indebtedneaa secured hereby or in the performance of any agreement hereunder.
<br />Beneficiary may declal8 .U sums secured hereby lmmedlatei~ due and payable by
<br />delivery to Trus}ee of written declaration of defaUlt. The Trustee shall halft'l the
<br />power of aale of the Property and if Benellciary desires the Property 10 be sold, it
<br />sh.1I depoalt with Trustee this Trust Deed and aU promls.sory notes and documents
<br />evidencing expttndllures secured hereby. and shall deHver to Trustee, a written
<br />notice of default and elecllon 10 caUSEl IIle Property to be SoQld, and tM Trustee ill
<br />turn ahall prepare a similar Notice in Ihe form required by law. which shall be duly
<br />tiled for r8OOl'd by Trustee.
<br />
<br /><a} After the lapse of such tIme as may be required DY law following the racorQ-
<br />allon of said notice of default, and notice of default an<! nOllce of sale ha"lng
<br />been glyen 8S required D)' la..', Trustee, Without demand on Trustor, shall sell
<br />the Property on the date and at the time and place desigl'lCllOO In said notice 01
<br />Mle, at pUblic auction to the highest bidder, the purchese prIce ~a)ilule If'
<br />lawful mc-.ney of the United States at the timtl 01 sale. The para-on cOi)ductln~
<br />the safe m.y. for an)l cause he deems expedient, p~tpone the saie trom time
<br />to time untlllt shall be completed and, In eV$ry such case, notke of postpon&o-
<br />ment shall be gtven by public declaration thereof by such person at the time
<br />and pl.ce laat appointed lor the sale; provided, l1 the salOl IS postpone;J tor
<br />tonger than (t) day beyond lhe day designated In the ;10Uce 01 sale, nollce
<br />thereof shall be given In the same manner as lhe orlgJnal notice of sale.
<br />
<br />Trustee shall execule and dellY$t to the purchaser his Deed con...eymg th@
<br />Ptoperty sold, but without any covenlUlt 01' 'oNaHanly, ell.pre$S. or Implied. The
<br />recit.la In the Deed ot an)' maUefs or faCia sha.li ~ cO/'tclU$lVe pTOof of the
<br />truthfulness thereof. Any pe1son, lncludmO Beneflelar)', ma.y pl.irGnue ,l.: ttie
<br />....,
<br />
<br />(b} When Trustee Mlis pursuant 10 the powers herein, Ihe T!ustQ08 shari apply Ihe
<br />proceeds of the sale to payment of IfWI costs and e)(penses of e~arci$!ng In.:.
<br />
<br />=:I;flnS:u~r:~~: t~n:ll~~ ~C~1~~~_ ~yo';'~~ :~I~~fl:~~~\~~'~:::~
<br />
<br />the Itemaln subparagraptl (clln the order thfl.UI statoo
<br />
<br />(c) Aft_ paying tn. Item. apoclllw In subparagraph (b) tt tho sale lS by Tru~teo. Of
<br />the proper court and other cO:ita of for~IOJ.ur. all-(l saloU In. U,IQ Is p",rs.Uonl
<br />to Judicial foreclosure, {tI. proceeds of 811~ft s!lalll't applied ill HI" Qldl!r stilled
<br />tQ the paymenl of;
<br />
<br />(I) Cosf of IIlny .vldel)c.e of tllWl prOC\HOO In connectlof' .....;trJ :l-Uctl sale. IH.t,l \)!
<br />.ny revenue .I-amp.;
<br />
<br />Ill) All l\,Im, th.n S-OCU(1!K1 hereby.
<br />
<br />iiil/ Th. rl!>f'lHut\tl;;lor, It tonJ, to. th"piil~n \otgony .ntili.,a tl);,I..IO
<br />
<br />I
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<br />16 Oull.. and Obllg.tlOfll!l 01 Tro.tM. \<:I} Tha duties and obligations 01 Trustee
<br />shall be determl'lo>:l ~OIAly by lh.. ('!~pr6ss ProviSIOns 01 the Trust Deed and Truslee
<br />}lhall not be liable 6:<cept for the perf<.rmance of such duties and obligations as are
<br />sp6clllcally SElt ~olth herem, afld no Implied covenanls or obligatlqns shall bo
<br />lmposed upon Truslee- (b) NO provision of thIs Trllst Deed shalt require Trustee to
<br />expend or riSk his OWl" fUnd,:;. 'JI otherwise Incur any f!nanclal obllgallon ;n the
<br />performance of any ollis dutJes hereunder, or 111 the exercIse of any of its righl or
<br />powers, if It shall have grounds fer believing that the repayment of such funds or
<br />adequate Indamnity against such rlsk or !lability Is not reasonably assured to It; (cl
<br />Trustee may consul I wlth counsel of his own choosing and the advIce of suctl
<br />counsel shan ba full and complete eutt>orlzatlon and pmtecllon In the respect of
<br />any action taken 01 suftered by It hereundef In l'jood faith and reliance thereon; (d)
<br />Trustee shall not ba liable 10r any action laken by him In good faith and
<br />beHeved by him to be ilultlorlzed Of 'oNlthln tM dtscretlon or rights of powers
<br />conferred upon It by this Trust Deed
<br />
<br />t7, Addltfonal Security fn.trum.nt_. Trustor. at its expense. will execute and deliver
<br />to the Trustee, promptly upon demand, such security Instruments as may be
<br />required by TrtJstee. In forfY' and subslance satlslactory to Trustee, cOyerln!';! any 01
<br />the Property conveyed by INs Trvst Deed. which security Instruments shall be
<br />add!tlonal security for Trustor's falthfui perlormance ot all of the terms, cov.nants
<br />and conditIons Of this Trus: Deed. the promissory notes secured hereby. and any
<br />other security instruments executed In connection with this transaction. Such
<br />Instruments shall M f~oroed or flied, and :e.recorded and reflled, at Trustor".
<br />expense
<br />
<br />HI. MlsceU.neou..
<br />
<br />(al (11 the event anyone or more 01 the proviSiOns conta.lned In thls Trust Deed or
<br />tne promIssory note or al1Y othef security Instrument glyen In connection with
<br />ttHS transactlon shaH lor any reason b<:l t1ald to be Ir1Yslld, Illegal or
<br />unenforceab!e In any respect. such InvalidIty, llIegallty, or unenforceablllty
<br />sl1all, al1M optIon Of Benellciary. not affect any oiher provlalon of this Trust
<br />Deed. but thiS Trusl Deed shall be construed as it such hwalld, lIIegal, or
<br />unenlorceable prOvision had neyerbeen contained herein or therein.
<br />
<br />'.bl ThIS Trust Deed shall bo3 construea according to the lawa of the State of
<br />Nebraska.
<br />
<br />(c) This Trust Deee shall Inurs to and bind the hairs, legatees, devisees.
<br />admInistrators, executors. successors and assigns of the parties hereto.
<br />
<br />(dj Trustor shaH pay all taxes 19Yi&Cl upon this Trust Deed or the debt secured
<br />hereby, logether with any other taxes or assessments which may be levied
<br />agdlllst the Trustee or BenefiCiary or the legal holder of said promissory note
<br />on account 01 the indgbledness evidenced thereby.
<br />
<br />re) Whenever us-ad hereto the sIngular number shall Include the plural, t!le
<br />stngular. me use Of any gender s!'1all be applicable to all genders, and the term
<br />'-Beneflciary" sna!1 .:)clude any payee of the Indebtedness hereby secured or
<br /><In,. transfer l!'lereof. .....helner by operation of law or otherwise.
<br />
<br />19. Succe..orTI\J.t... Bene1iclary may fram time to time substitute a succ.ssor or
<br />successors te sny Trustl!t'l namea herem or acUng hereunder to execute this Trust
<br />Oe8<1. Upon sucn appomtmerH ane wlthoul conveyance to the Sliccessor Trustee,
<br />tne laner shall be ~estect ",llh ail litle, powers, and duties conferred upor. any
<br />Trustee hereH1 "amed or aC~lng hereunder. Each sucn appointment and
<br />~ubstltution shaH be made oy ..'mlten instrument by Ben.flclary, containing
<br />f~fefe(1.Ce to this Trust Deed and I!S place of record. which when recorded In the
<br />oll!ce 0; the Aeglstar at Daects oj lhe county or counties in which said property Is
<br />situllled shall M conclUSIve Droc~ 01 proper appointment of the successor Trust".
<br />The foregoIng power cf subslltutlon and the procedure therefore shall not be
<br />il>:cfusive 01 the power ana p~ocedure provtded for by law for the substitution 01 a
<br />Trustee or Trustees in the pi ace 01 the Trustee
<br />
<br />20. Fori:Ie.ra~ by Benellci.ry or Tru.... Not . W.tMr. Any fontbearance by
<br />Beneticlary Of Trustee In BX1!lCI:!.,ng any right or remedy hefeunder, or otnerwlae
<br />-iilfor{l6{] by applicable ra..... shall not be a waiver Of or preclude the exercise of any
<br />'1gn! or remedy hareunder u!<.ewlse, Ihe waiver by Beneficiary or Trustee of any
<br />defa\JU 01 Truslor under lms TrUSl Deed s~all not l>9 deemed to be a waiver of any
<br />otner or similar defauils subSeQUently occurring
<br />
<br />21. Tru.tor Not Raltt..ed. Exttmslon 01 the lime for payment or modltlcallon or
<br />amortlzation of the sums secured b,' this Trust Deed granted by Beneficiary to any
<br />successor In Imerest ot Trustor shall not operate to releue. In any manner, the
<br />ILabllity olth~ Oliglnal Trustor or Trustor's successor it' interest. Beneficiary shall
<br />[1ot 06 r-equ!fOO to commence proceedings agailll,1 such successor or refuse to
<br />e:l.tel1d tIme ior oayment 0' 0thl,l'tWISe modIfy amortlZaUof'! of the sums s8Cured by
<br />thIS Trust ~ by 'NiSOI' o! any oJemand made by the originai Trustor and Trustor's
<br />SUCC€lssors In 'nt~h3s1
<br />
<br />.::!:2. o.'.ull it !haru shaii De a uOifilU!t ul1der thIs Dged 01 Trust or under any prior
<br />"T10rtgliQe, tne 8ef'lehClap( I'lay UII!} ::.uch defaua, and the amounts advanced by,
<br /><lno other co~ts and tupens&s 01 Ihe ba~lIclary In curing such default, wllh
<br />l!'lleft'lst <l>t the default rate contalnt'd If' the Note secured hereby from the time of
<br />!he ad"'ances loll payments shall be aOdea to IN/Indebtedness secured by this Trust
<br />Dead and may b6 collecleo heft'lufltltlr at any lime aftef Ihe lime 01 8uCh adYllnces
<br />01 paymenls and stlali b~ daemlKl t(1 De S6CUroo hensb)'.
<br />
<br />23. Option to, F~OM. Upon Ihe occurance 01 any defaull hereunder, Beneficiary
<br />shall ha...e the opHon tc loraclose this Trust Deed in the manner prOVided by law lor
<br />the for&C!osure of mortgagds on real ptopet1y
<br />
<br />24_ TN.Cor'S Right., Ab..nt O.tault. iJnUl any default fn tne payment of
<br />'r;debtool'lo)ss hereby $6CUrlK1 01 until the breach 01 any covenant herein contained,
<br />the TrOSIOf. its successors and assigns, shall possess and enjoy the property. and
<br />rec9ive the fen IS and prol!ts therefrom. Upon payment of all sums secured by this
<br />Trust Deed, Beneficiary st1all fequest Trusloo to reconvey the property and shall
<br />surrender this Trus! DeW ana all nOfa-s e....idencing indeDtedness secured by Ihis
<br />Trust Dtled 10 T'u:n~ T'u$loo SIH:llf reCOf'Vey Ine prOPEHty without warranty a.nd
<br />....allout dlM\l<:l l~'':l :;''''1",':'''5 legally e'ltitled therelo, The Grantee In any
<br />'aCQ{1~<;\,anc.. mfi,y t,<, ..;6~<::jmeu \l.s !hot) ptJ($un 0' pelsons entitled tl1ereto," arId
<br />the recitals therein of 8ny matters or facts shail be conclusl~e prool of the
<br />tru~hfuln9SS thElnwl_ Such person or ver",ons shall pay all casts of recording, if any.
<br />
<br />25. Aec.I.,.t1Ol'! in the E..rn oi Trlm"-.r.)p the a~-ant (he !tUt! to said real estate is
<br />transferred, or cvntract&C 10 b" tn:lflsisfrl'\\1. fr0m the undersigned lor any reason or
<br />0'1 any iTlethod wh<llsoo.t>r, 1"8 ellti(e pr.nClpal sum and accrued interest shall at
<br />once t>eco/Tle due il.n~ Pil.,.c..Di<:'! ar lh", iI;eclJon (If tile Benellclar;. Failure to Eo.Xelcise
<br />HilS opllon OtH;duse c1 lli:l.flSier l~! t,Pe a5 <i.t)o..-e statad III one ll'lslance shall nOI
<br />conslHule il w;;mer ollila nghtlo iI~iHCis-e tnt' same In the e";lonl 01 any subsequenl
<br />transfer
<br />
<br />~. ThiS oMiJ 01 tHlI$lIS ]Uf\1QIIQ 0'10 u~te<l
<br />
<br />01/06/82
<br />
<br />ell.ecuteo by lIWIH.H to
<br />
<br />JOHN. A. \oIOLF
<br />$45,970,10***
<br />
<br />Truet'",
<br />
<br />MCunng . prmclp*: r:Qte !OI
<br />
<br />Doll~ua and Ililll\J 101 'tlLOIi.~ \OI(!h t;-.tI H~gi81~' vI ~s /lna IOenlilled -It. fOllOWS.
<br />
<br />DOC, 1182-000132
<br />
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