|
<br />and. wilhOl/t demand. !lh!lll l~ ffl'lITlf!(lial~jy dull Afld payalJI'" by l'rulllor Ilnd shall
<br />bear !nhH65t ;;il the- If1/1JllmOrn aUOWltblfl logal ral~. plovidad, hOWeVftf. Il'lat al !tIe
<br />option of Bene/lciary or TrllS1l!1Et such lumS ml!~ be a<:lde!:t 10 the principal balance
<br />01 any Indebtedness ~cured hereby and !lha!! t)l~ar Itle same mtere"t as !luch
<br />indebtedness and shall be payable ratably over the remaining lerm thereof
<br />
<br />r
<br />
<br />10. A..lgnrn.nt of Renl.. BenelH;iary sha)) nave the rlgl'1t. power and authority
<br />durIng tl'leconlinuanCfl jol IrllS Trust Deed to cOlleclthe rer.ts, rssues and prollts 01
<br />Ihe Property and 01 any persona! prop!!'rty located Ihereon With or Wlthoul laking
<br />pN5eaSlon 01 the proparty aflecled hereby, aM Truslor /'Iereby absoh.llely and
<br />unconditionally 8s51gns a11 suctl rent~, issues and proHts to Beneficiary
<br />Beneficiary. howeVl'lr. herebi' consenls to thp. Truslofs collection and retenllon 01
<br />such renls, iSSl!8S and proflls as Illey accrue and become payable so long as
<br />Truslor )s nOl, al such times. in delault wHh ref:lpecl to payment 01 any
<br />indebtedness secured hereby or in the performance of any agrfJemen! hereunder.
<br />Upon any such delault. Beneliciary may at allY lime, either in person, by agent, or by
<br />a receiver to be appolntad by a court, wllhout notice and Without regard to Ihe
<br />adeQuacy 01 any security for the Indebtedness hereby $ecurcd. (a) enter upon and
<br />lake possession of the Property or any parttherao!. and in its own name sue for or
<br />otherwIse: ceHect such rents. issues and prolits, Including those past doe and
<br />unpaid. and apply the same. less coslS and expenses 01 operation and collection,
<br />including reasonable aHorney fees. upal' any fndebtedfless secl/ted harp-by, and In
<br />~<lch order a9 Benellclary may determme; (bJ perlorm such acts ot repair or
<br />prolectJon as may be necessary Or proper 10 conserve tM value 0/ the Properly; Icl
<br />lease the same or any part thereOf for such rental. lerm. and upon Such conditions
<br />as lis judgement may dictate Unless Truslor and BenefiCiary agree otherwise in
<br />WflUng. any applicalion 01 rents, Issues or prolilS to any ind!:'btedness secured
<br />hereby s/'lall flat elltend 01 postpone thft clue date of the installment payments as
<br />provided In said promissory nole or cl'1ange the amount 01 such Inslallments. The
<br />entering upon and taking possession of the Properly. Ihe collection of such renls.
<br />issues and prollls, and the applicatlo1'lther!!'ol as aloresald, shalf not waive or cure
<br />any defauU or nonce 01 delaut! hereunder, 01 in'Jalldale any act done pUfsual'1l 10
<br />such notice, Truslor also assigns to 8enellcl<wl', as hlllhel security for the
<br />performance 01 lhe obligations secured hereby, all prepaid lents and all mOnies
<br />whIch may have Oeen 0' may hereafter be depOsited With said Trustor by any lessee
<br />Of the Properly. to secure the payment o! any renl. and upon delaull In Ihe
<br />performance of any of the proviSions heleof Truslor agrees to "ellver such renls
<br />and daposlls to the Benellciary Dehvery 01 written notIce 01 the Beneticiary's
<br />e~ercise 0/ the rights granted herein, 10 any tenanl occupying said premises shall
<br />be sutlicienlto require said tenantla pay said ren! to Ihe Benefic,ary untilforther
<br />notice
<br />
<br />~
<br />~
<br />~
<br />Cl':)
<br />o
<br />o
<br />
<br />,
<br />
<br />c:l"
<br />c;;O
<br />
<br />11. ~e.ed Preml.... Within 10 days el.lerdemand, TruSlor shall turnlsh to Trustee
<br />a schedule certified to be true, setting lorth all leases of !opace In HIe Trust
<br />Propeny then In ellect, Including, In eaCh case, Ihe name 01 the tenanls and
<br />occupants, a descr!pllon 01 the space occupied by such lenant and occupant. the
<br />fental payable tor such space and such other Inlormatlon and documents wlth
<br />respect 10 SuCh lease:! and tenancies 85 the Trustee mai' r&quesl.
<br />
<br />Wllhou! Ihe prior written consent 01 Trustee. Trustor shell nOl, dlreclly or
<br />Jndlrectly, wlth respect to any lease 01 space In tI,e described premJlles, w!1elher
<br />such lesse Is now or hereafter I., existence; {a) accept Of perm!! afly prepayml?'ll,
<br />dlscounl or ad\lance rent payabie th6reunder; (bJ cancel or terminate the same, or
<br />accept any cancellation, termination or surrender thtH60f, or permit any event to
<br />occur which .....ou)d entitle lhe lessee thereunder 10 t6rminate orcancellhe same: Ic)
<br />amend Of modify the !lame so 8S to reduC6 Ih6 t6rm th"f901, the rentel payable
<br />thereunder, or to change any renewal pro\llaions Ih6raln .1',lIl1ed: (d) Wal\l8 any
<br />delault thereunder or breach lhereof; (8) gl\le any consent waIver or approval
<br />thereunder or take any olher action in connection therewith, or with a lessee
<br />lhereunder, which would he\l8 the elleet 01 Impairing the value 01 lessor'9 Interest
<br />!hereunder, on th6 Property sobjecl tl'1ereto, or 01 impalrmg th6 pOtlllion or interest
<br />01 the Tru9tee Or B<tnellclary; Or ill sell, asalQn, p1eage, mongage 01 otherwise
<br />dlspoStt of. or encumber, Its Inter6s1 In any such lease or any rents, issues or profits
<br />issuing or arising Ihereunder.
<br />
<br />12. Cond.mn.llon.l! !It!e to any par! 01 the Pl'()perty shl'llt be taken In condemnaHon
<br />proceedings, by right 01 emine-nt domain or similar aClion. 6r shall bfl- sold under
<br />lhreat 01 condemnation, all awards, damages and prOC86ds are h8f6by assigned
<br />and shall be paid to Benellclary who Shall apply such swards, damages and
<br />proceeds 10 the sums secured by the Trusl Deed, with th6 ellcess, JI any, paid to the
<br />Trustor. Trustor will promptly, and wltn due dlflgence, repair, alter and restore Ihe
<br />remaining part of the Trust Property 10 its former condltlon substantially to the
<br />axtent that the SlIme may be jea/:tlble and so as to cons.itule a completa ana usable
<br />unit
<br />
<br />13. Fuhn. ActI.~.. Upon request 01 Trust~, BeneHcJary, 8t Benftflclary's option,
<br />prior 10 leconveyan1::6 01 the Propony to the Trustor. may make lulure .dvance$ to
<br />the Trustor. Such IUhHfladvanCfltl, wah InteresllhtHeon. Shall be secured by this
<br />Trus! O&e.d ....hen 8lfjdenced by promiSsory notes staling !hat said noles ara
<br />secured her&b)"; ploviuoo thaI at no I1me shall the secure(l prinCipal, lutu(t~
<br />adlfsnces, /'lol lnClu!l1l'l1l S'.lffiS aOvanced to "foleet the secwlIy, 8/(ceed on6
<br />hundred p&rcent (lOO~J ollhe Qllgif\A1 p~llJclpal amounts 3ecur6d hereby.
<br />
<br />u. RemMlIH Cumull,ltv.. Ail femedies provided in this Trost Oeed are dlstlncl and
<br />cumuiative to any otner right or remedy under this Trust Deed or sllorded by law or
<br />6Qulty, and may be iilxerCJ~6d concuff9nl!y, lnu9D8n.dElOtly or $uccessiveiy
<br />
<br />L
<br />
<br />15. Acceleratlort; Rem"I.,; S.I.. Upon ~!auli by Tlustor In Ihe payment of any
<br />Indebtedne$4! secured tlereby or In th& perfOfrnance 01 any agreemenl hereurider,
<br />BeneUclary may dectare aU sums secured n6reby Immediately due and pa:(able by
<br />delivary to Truajee 01 wrJ.Uen declaration 01 default Th6 Trustee shall ha\le lhe
<br />powar of sale 01 th;J'Prooarty and I! 8~nef!ciaf\l deg,lr6Slhe PropertY" 10 be 901d. It
<br />sflall <:tepoan wltn truslee tols Trust ()(led and al! promissory notes anCl documenta
<br />eviciencing expendiiures secur8<l tl&leby, and SI'l.11 dell~er to Trustee, a written
<br />notice of oetaull and election lO cause the ProperlY to be llold, and the Trustee In
<br />turn ah.ll prepare a slmU$r NotIce in Ins lorm required b~ iaw. which shall be duly
<br />Wed ICH record by i'ruslee.
<br />
<br />(a) Alter llle laps6 01 soch Ume as mily be reQuired by law lollowtnp the r&cord.
<br />.fltlofl 01 salo noUcll ot aefaull, and notice of de/au It an.;! noUce 01 sale having
<br />bHn glvtln as requlred by law, Trustee, withOut demand on Trustor, shall sell
<br />the Propert~ Ofllhe oata and at thll lime and place designated In said notice 01
<br />salt, al publlc auction to tl'l6 hlgh.est bidoer, Ihe pvrch"e price payable ln
<br />lawful money of the Ur;httd States allhe time -01 sai6. The persOn conductir>g
<br />the sale may, lor any cau",e he deem:! elpedlent. postpone the sale from tJm6
<br />10 lima unlH It shari 00 comp)eled and. In every such case. llotlce ot postpone,
<br />menl Shall be given Dy publlc o&c!aratinn tMrtIC! by such. person al thl! tIme
<br />ana pilllce lut appvlntEld for lhe 50lio:6; prO'o'lded, II Ihe sale 15 PO$tponed for
<br />longer lhan (11 Gay beyol1o the dill)' designated In tl'oe notice Of sale, nollce
<br />the.r.&01 &h.liH be given in IhEt same manoer.~ the orlDm.1 notice Of sale.
<br />
<br />Trustee shall $l!&cute and tlell\ler 1Q the purchaser his Deed conveyIng the
<br />Prop.$dt sole. out 4'ltI101..!\ any eo~elllOnt 0/ Wi-Hanl)', expre8S, or !mpUeo. Tha
<br />re(:!taJs In Ihe DI)&d 01 ell)' ma!t!!l'I$ or laCIS ~ha(j ~ conclusive ploof of the
<br />tr,,:h!41r,ell& thereof. Any :;O$/son. Includinij B8oolkiary, may purl:hase at the
<br />....
<br />
<br />(bl Wnen Tr"'31e6 ,"H, pi;!8Uant 10 lhe powers hDlel!!, I~ 1 (u"'~ee lltll~lIlipply ttoe
<br />pro<;;e!td:ll o! 1M JI..,le to paymei1t ot :he co,ls and expenses of i:l..elc!~lrtg 1M
<br />P<rovet 01 sal6 linG ~f ltte "Ie, l!'lcludlog lhe pllym8!\l of t~ Tfl,islee', Fees
<br />actualfy lnc;Ufr6d, nOl to e:.:ceed ".. ~. .~__.... 01 tNi 3<116 pr'C6. -Itflct thet, to
<br />lhe ltlm'lsln subparagraph (e) In tm. orOOf tl\&re,!Ilaled
<br />
<br />(c, Aflat paylttg tl\$ item~ 8pecil!~ In l!I'.ibPlllragtaph (bi If tM IIiille ill by lruIl1tu!, or
<br />lhe prQp$r cO.lm and clher C()SIt. 01 forftliJolivr6 IlInd tale if \I~ nil' 1$ pU<JHiQnt
<br />tCt.l\idlcl.a1 fotlJC!i')t\Jr". tne ;'i11X;H<ls 01 !laie VI.lI D~ applH,tl ill\hli (\(dfi( "al~
<br />to 1M -pillymllf!t r:.t
<br />
<br />(rj Coat oj &r1)1."ldwv.:cfl ,;t 11119 PfOC.,f~(! 'n ,:;onl"ll/tCH;?I, ..,..,n, "\i>;;t~ 'jAil& land o(
<br />~H1Y 100000M ltamp~.
<br />
<br />ihi All 1o\,llfltlUlI!W. $Itetjl!ii\1 n~rWby,
<br />
<br />\W) :t'r,(j >*i1\~:r,,"J6r rf ,Uly, M In" ~,*f'lilm !Qj)aHy ~nlLll00 tl,..(~"
<br />
<br />16. Dull.. and ObUg.Uon. of Tro.'N, (a) rh~ dullu and Ot)llQ3tlon" of Trusl",
<br />i!haU be datermlned solety tq f/"l~ e~prOS5 prlJ.,.15lonll ollha Trust 08ed and Trustee
<br />llhaH nol be liable 6tCept for the performance of such duties and obfjgatlon~U are
<br />llpeeJ/lcalJi' set forth herein. .and no Implied covenants or ObjlgatJons shall be
<br />Imposed upon TrU.~lee: (b) No provision of Inls Trust Deed shall reQuire Truslee to
<br />expend or risk hi!l own lunds. or otnerwlse il'lcur any financial obligatIon In the
<br />performance of any ')1 Itfl duties hereunder. or In the exercise of any of )ts right or
<br />powers, If It Shall halle grou"",s lor beHlJVlng Ihal the r6paYlYUlnl of such funds or
<br />adequate Indemnity against such fisk or IlabUlty Is not reasonably assured to It; (cj
<br />Trustee may r.onsulf wit" counsel 0/ his own ch.ooslog and the sd\llce of such
<br />counsel shall be lull and complete authoriZation and protectIon In the respect Of
<br />any aCllon laken or 9ultered by It hereunder In good lalth an" reliance thereon; (d)
<br />Trustee ShaH not be liable for any action tak6n by him In gOOd fa)th and
<br />believed by rllm 10 be aulhOflzed or wltl'lln the discretion or rights 01 power,
<br />conferred upon If by t/'lls Trust Deed.
<br />
<br />17, Addlllon.fs.curlty In.'rum.nt.. TrU!ltor, at ItseKpense, will execute and dellv<<
<br />to the Trustee, prompUy upon demand, such security Instrumenls as may be
<br />requIred by Trustee, in lorm and substance saUsfaclory 10 Trusle&, covertng any 01
<br />the Property conveyed by this i'rU$l Deed, w!'lfch security Instruments shall be
<br />addlllonal security lor Trustor's falthlul perlCt'mence of all of the terms, covenants
<br />and condlUons of tl'1ls Trusl Deed. Ihe promlsaory notes secured hareb:(, and .ny
<br />other securlly in91rumenta executed In conne<;tlon with this fransactlon. Such
<br />Instruments sheH be recorded or filed, and re-recorded and reWed, at Truslor'a
<br />expense,
<br />
<br />18, MI.cellaMOU..
<br />
<br />(e) In the e\l80t anyone or more 01 tM provlstofl$ contained In this Trust Deed or
<br />the promissory note or any other security Instrument given In connection with
<br />this tranllectlon sheJJ for any reason be held 10 be Invalid, Illeg.1 or
<br />unenforceable In any reapect, such Invalidity, illegality, or unenforceablllty
<br />shall, at the option of Beneficiary, not alleel any other provision of thle Truet
<br />Deed, but this Trust Deed shalt be construed as If such Invel1d, Illegal, or
<br />unenforceable provision had ne\l8r been contained herein or thereIn.
<br />
<br />(b) This Trust Deed Shall be construed accordIng to the Jaws of the State of
<br />Nebraska.
<br />
<br />(c) This Trust Deed shall inure to snd bind the heirs, legatH8, devlseee,
<br />admlnlslrator5, e~ecutors, successors and assigns of the parties hereto.
<br />
<br />(d) Trustor Shall pay aU taxes le.,.led upon this Trust Deed or the'debt HCtlr9d
<br />hereby, logether with any olher ta~es or assessments which may be l&\lled
<br />egaJnst the Trustee or Beneficiary or the legal holdet of said promissory note
<br />on account of the Indebtedness evld"nced thereby.
<br />
<br />(e) Whene\ler usecl herein, lhe singular numbel" shall Include, the plural, the
<br />singular, the use 01 any gender shall be applicable 10 all genders, and the term
<br />"Benellclary" shall Include any payee of the .Indabtednesll hereby secured or
<br />any Iransfer tnereal, whether by operation of law orotherwlS8.
<br />
<br />
<br />19. 5u~..ot"Tru.t... Beneficiary may from timE' 10 time substltute a successor. o~
<br />lluccessors 10 any Trustee named herein or .ctlng herV-:Jnde" ,to eXeCule thl.c Trult
<br />Deed. Upon such appointment and wllht"..!! conveyance io trle succeiisor Troaies,
<br />the latter shaU be "'3sled with a1l IIUe,' powers, .and dutIes' conferred' upon .any
<br />Tru~,tee herein named or acllng hereunder, Each .such appoJntmen!. .~d
<br />subs1ltutlon shall be m.de by wrlllan Instrumant by .Bene1lclary".l?On~lnlng.
<br />ntference to tills Truet D&8d and Its place. of record, which when reco~.In:t~
<br />olUce 01 the Reglstar of Deeds of lhe county or counties In whle.h said prope~d'
<br />slluated ahall be conclusive proof Of proper appointment of the succea.aOr Trullee.~
<br />Th6 foregoing power 01 substitution aneJ the procedure therefOr8:ahaU.'nol be
<br />exclusl\l8 of the power and proceclure provided f.or.by.taw lor the;su~.Ututfon ot.-.-
<br />Trustee or Trustees In the place of the Trustee.
<br />
<br />20. Forbunlnce by B.R*flclary or TN.... Not a W....,. An(f9i'~raitce:by
<br />Beneficiary or Trustee In exercising any'rlght or remedy~'herelJnder,~.Ot.otherwl..
<br />afforded by appttcable law, shall nol.be III waiver of. or preclude the exerc.lae of-any,
<br />rlghl or remedy hareundef, Ukewlee, -Ihe waiver by Benefll?lary. or Truatee.ofcarty-
<br />delaull of Truslor under Ihls Trus.t Oeed:shall not. be deemed to be. walver.,of-any.
<br />other or slmllar.defaulls SUbsequently occurring.
<br />
<br />21. TN.tor Not A.IM.... Extension of the time. for .paYment Of, modlflcallon.or
<br />amorUzatlon of Ihe sums secu~&d by Ihls TrUSt Deed.granted by Be.ne.f1c1ary.,lQ any
<br />llucceuor In Jntereel of TrU910r ehaU nO.I'operate. to telHM,'ln any nl'ari.ne~, tfie'
<br />lIabUlty 01 the original Trustor or Trustor's SUCCeS$or In Interest;..Benellclrtry shall
<br />not be reQuired 10 commence fJfOCeedlno.s agalnal.llIuch eUQeeailor or refuse to
<br />ellTend tlme lor payment or otherwise modify amortization of Ihe Jlums 'aecut.fby.
<br />Ihls Trust Deed Dy re8.8on of ariy demand made by the original Trustor 'and ,Trustor's
<br />SUCC6ssor:s in Interest
<br />
<br />22. Dt:I.ull. If the.re shall be a aelault under Ihls Deed 01 trust o"t,Inchli..~l'\y,p,rlor,
<br />mortgage, the. 9anellclary may cure such default. and the.amounts adlr._llc8d;by.
<br />and other coats: .lid ....peiu'ilell of lhe'tieneiiciary in, curing ~ch .dl!i.i~til!.' w.lth.
<br />Interest at the default r.t" conlaln.ed In the NQte.secure(t~ fr,o:m,l~ tim8..ot
<br />Ihe advances Of payments shaU be added to ttl-e lndob(ed~aa .cured by,U11..Trut..t
<br />Deed and may be coUected ,hereunder at any lime after the Ume,ol.alJch,,ad".~,
<br />01" payments and shell be deemed 10 be .secured hereby,
<br />
<br />23. OpUon to FOfKI~.. Upon the occurance of. aoy default her~nd.er. Bene(Jclary
<br />sha)! have the option to loreclose this Trusl Deed,ln the manner provtdlKA'by J.w.for
<br />the loreclosure ot mortgages on real property.
<br />
<br />24. TN.lor'. Rights, Ahent o.f.ult. Until any default .In th., payment, of
<br />Indebtedness hereby seC.1.ir&C! or until the breach of .n)1 covenant her,.'n con~~(Md.,
<br />the Trustor, Its lJuectl$flOrs and assigns, shall POSMS' and enjoy the prOP,erty, and
<br />receive the rents and profits tnerefrom, Upon payment ot.1I sums secured by thl.
<br />Trust Deed, Beneficiary shaH r&Quest Trustee to teeonvey the. properly and shall
<br />surrender Ih;, Trust Deed and an notes evtdenclng IndlllbtedneSll secured by. thl.
<br />Trtlst Deed Ie Trustee. Trl.lstee shall r8Corwey the property without warranty and
<br />wJthout charge to the persons legall)' entitled there!o,. The ,Granlee In any
<br />racOnveyance may be desolbed as "the pelson or pe"'on~ enUtled therll!!to/' and
<br />th.a :;sclt;.lll th~relr. t:A any ffilillars ,or facl; $hall b$ concl....l.... proof 01 H~
<br />truthlulness thereal. Such perSQn or persons shall pay all oosls of recording, if any.
<br />
<br />25. ~e.I"'.llon In the Ey.,..t of 1r.o.l.r. In the eveolthe title to said rea! ~Sl.18 is
<br />transferred, or contracted to be transferred, from lIle undernlgn&d for any rN50n or
<br />by any methOd .....hatsoovel. tfle entire principal sum and accrued Interest shall al
<br />once become due and payable at the olectlon ot Ih.ft Beneficiary, Failure to exerCI$e
<br />this option because of !fansfer 0/ IlUe as above 1I1ated in one inllitancs shall not
<br />constitute a welver Of the nght to u;.;en;!15e th.e l5.<lme In the. event of any subuquent
<br />transler
<br />
<br />~. Thill d..o of !tult!e junlOr to on8 d.ted __.__ ,.__~,~_~__.__.
<br />
<br />ell8(;vlad by Trustor :0
<br />
<br />__._ _ __.,,_,._~__,__~_._~___.. Tru.tee,
<br />
<br />Mel.nlng. prlflcio-l r\O\e lor
<br />
<br />Doll#.rll and II Ie(! lor rtt<;o'(! wlt~ th. fl~lllt.1 of O~a and Identified.. tOlJOw_.
<br />
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