|
<br />84~04734
<br />
<br />and, without d",mand;' allell be'lmmm1iatfl1v dUll and IJ(lyahl" bv 1 'ilsTor .,In(1 snail
<br />bear mlerasl at'thfl ",iblmurr1 allowatJJl! ;\l(1allilte however lnsl al the
<br />option 01 Benoflel,MV or 1ruS1A/J ~lJCFl SLr'TIS 10 Ihl! prinCipal t;alance
<br />of any Indebtedness secl.fed hf!leb~ Ml<! tmiH tnI.'! sam" Inlerest as ':lUCri
<br />mdeot'!'tdness anCl shall be payable ratably (".P.f lho remaining le'm Ihereof
<br />
<br />r
<br />
<br />10. ASllgnment of Rent5_ a"nol;(::';H", snail nave The "gll!. power <lnd 8'llhonty
<br />during the continuance lot lhis rruSI Deeo to c(Jilecllhe rents. Issues and profits of
<br />the Property and ot any personal prOPPerly local'Jl1 thereon willl or without taking
<br />possession 01 the prCloerty a/fecled hereby, and Trustor ~l('reby absolutl:lly and
<br />unconditionally aSSIgns all SlICh renls. 's~ues ano pro/its to Beneficiary
<br />Beneficlarv. !10wever. hereby consents to the TrLJston:. colleCllof\ and retention of
<br />such rents. Issues <lnd "rollts as !hoy ilrr,lLJe find become payable so long as
<br />Trustor IS not, at SUCh times, in default .....11h respect to payment of any
<br />indebtedness secured heroD,' OJ ", the nelfonnance O! any ilgleeml;!nt hereundel
<br />Upon any such default. BenefleFap~ may at any t,me, eilher In person, oy iHjent. or by
<br />a receiver to be appointed by a covn, wtlhOlJl notice and wlthout regard 10 the
<br />adequacy of any security for the mdebtedn&-ss hereby secured, (af enter upon and
<br />take possession ollhe Property or an~' part t'lereof and in FIS own name sue /Ot or
<br />otherwise collect such renlS. 'SSUI:tS and Drollts. 'nciudinq tnose past due and
<br />unpald_ and appfy the -s<lme. less COSI$ anti ,"~P-tH15es of ooeralion Ilnd collecl1on.
<br />includJng reaSonable attorney lees, vpon any ,ndebl/Jtlnnss secLJIIJd hereoy. and in
<br />such order as Befl-eflclaly may determme. Ibl per/orm such acts ot repaFt 01
<br />proteclion as may be necessary or propel to conSMve 'l'e Valup. Of the Property: Ie)
<br />lease lhe same or any part thereof lor such rental, term. ilnd upon sucn conditIOns
<br />as itS judgement may dIctate Unless TrUSlOr and BenefiCiary agree otherwISe in
<br />writing, any application 01 lents, 'ssues or orol,15 to ""'i ;ndebledness secured
<br />hereby shalf not extend Of postpone Ihe due date G! the tnstallmenf payments as
<br />provJded in said promiSsory 'late or chanqe tn!) amount of such install'nen!s. The
<br />entering upon and takIng posseSSlOn oj the Property, !he collection of suCh rents,
<br />issues af\d profFts, and Ih", apphcatlOf'l Inereof all 8for05,1I(1, shall not waIve or cUle
<br />any delault or flat Ice of detaultl'ereUlIdel, or I~walldate an\, act done pursuant to
<br />SUCh notice. flUstor also assFgns to SenetlclUv as turthel secunty fOI the
<br />perlormance 01 the obfigatH;;ns sPcllled hereby ,111 prepaId rents and all montes
<br />whIch may have been Of may r,ereaher NJ r1t'Poslled wFth said TruslOI by any lessee
<br />ot the Property. to ttw paVf!1f'l'! ,;)t anv r8"t, and upon defauli ,n the
<br />performance 01 hweot Tlustor agrees to deliver such rents
<br />and deposits to DeIIO'"f', o' wrl1!en nOllce 01 the BenefiCiary's
<br />exercise at I.>]" rlghlS grantee :0 any lenant Clccuoymq s"lId premises shall
<br />be SUfflClerH 10 I€!quFre !.ald tenanl 10 ,1<1V Salt! If'm l:! Ihe Bene>liclarv untIl fun her
<br />notice
<br />
<br />11. L...iId Praml.... Within 10 days afler demand, Trustor snaU furnish 10 Trustee
<br />a schedule certlflea 10 bo ~rue, setting forth all leases of space 10 !he Trust
<br />Property then In effect. Including, In each case. the name 01 !he tenants and
<br />occupants. a description ot tile space occupied bv such tenant and occupanl. the
<br />rental payable iOf such snace and ,>uCIl oHler Informallon and documents with
<br />respect to sucn teas-os and tenanCies as Ihe Trustee may reQuest
<br />
<br />Wlthom the prior ""riHen consent ot Trustee, :n.iSlor shall '10t. QU6etly Of
<br />IndIrectly, WITh resp&ct to an~ .ease ot spaca In tl1e descnbed premises. whet~':Ir
<br />such lease is now or hereafter in existence, (aj accePI or oermil any prepayment.
<br />dIscount or advance rent payable tnereunder; ~O) cancel 01 terminate the same, or
<br />accept any cancellation. lermlnil\ion 01 :;u""'IHjm ;"to!l..ol, Of pOirm;i a;,,-,.- .,'iant:o
<br />occur WhIch woulct entitle t~a lessee t~ereunder to terminale or cancel the same; Ic)
<br />amena or mocllfy tlls same so as 10 reduce tlle t~rm lhereoi. the renlal payable
<br />thereunder, or to change any renewal prOVISiOns tnerem contained; (d) waive any
<br />defauft thereunder or bresen thereof: l6l gIve any consent, walVer or approval
<br />thereunder or take any olher action ,n connectIon thereWllh, or with a lessee
<br />tt:ereunde!. whlen would !leve 1t1e eft~ct or ,mparrlng tn6 Hlhl6 ot lassor's 1l1terest
<br />thereunder. on the Property subjeCl thereto or of FIl1C8!r1ng the cosltlon or interest
<br />at tl1e Trudtee or Benaflclary: ':)1 :0 sell. ",SSH;;n. pieoge. ;'l10ngaqe or otherwise
<br />dIspose ot. or encumber, lIS inlerest I~, any SuCh lease Of any rems, Issues or plOIltS
<br />fssulng or arising Ihereunder
<br />
<br />12. Condemnation. It Ul!e to any patt of !he Property sl1<111 be tal\an F1 condemnalfon
<br />proceedings, by right ::;1 ermnem domam or sim.lar aclion. or shall be sOid under
<br />threat of condemnation. all awards, damages and proceeds are hereby assIgned
<br />and shail oe paid !O Beneficiary whe shall apply such awards, damages and
<br />proceedll to 11113 sums securoo by the Trust Deed, wIlh the excess, It any. paid to the
<br />lruslor. Trustol will promptly. and 'Wltl1 due otliQence, repair, alter ana restote tne
<br />remainIng part of the TI~sl Preperty 10 its tOrtner condition substantially to the
<br />BKtent that the same may tie feaslbie and SO as to constitute a complete and usable
<br />unit.
<br />
<br />13. FutulWl AdY.n-c.s. Upon request ot Trustor_ BenellClary. a1 Benelfciary's opllon,
<br />prior to reconveyance 01 tnb Prope<1,,- to \110 Trus!or. may ma...e IUIl.lre advances iO
<br />the Tru;ilor. Such rutwre <'I-Ovances. ""111'1 interast tl1areon. shan be securad by thiS
<br />TrUll! Oeao /IIhen eVidenced J~ ~r(~m):>sory notes stallnQ thaI said notes are
<br />seCure,) hereby. pro~ldeQ '11..1 at f~O l,m!'l ~Ilail tr1a sacura<l pnflClpal, luture
<br />advances. not IflGIUd,n... 5,,1<1'; <l.CV3'1l:eCl ;JlOlecl the security. excee<l one
<br />hundred percent (lOO'hlvf tho; ,-,rtY;!1QI ptm"pal amouflls securoo hereby
<br />
<br />1". Ramee:!... CumulIlU....,. All remedle$ crov"Jed in thiS Trust Deed tHe dlsUnct ana
<br />cumulallve to any oU'ler !lQnt or femedy uOder this T'IJSI D&ed or afforded by law or
<br />eQuity, and may be 6HIIC'5tl{J concuHenlly. inoepentJ6ntly or SuCCetl51valy
<br />
<br />L
<br />
<br />15. Acce!.r.Uon; R.me<il..; Sale, up"" default t;ly Tfu>illor in flte paynttmt 01 any
<br />Indebtedness secure" l1era.by ('1 !f\ 1'101 paflormanc6 01 any agreement hereunder,
<br />Beneficiary mal' 06clato:! a;1 ..urns secured heteby Immediately dlle and payable by
<br />delivery 10 Tr\Jsletl 01 I'WlIltOfl d<lcierahon of (lateua. The Trustee shall have the
<br />!>Owel ot saie 01 the Propert" ,),nO it 8anellciary cleSltejj (he P,OPtlfty to be soid, It
<br />shall depOsit ,^,;th Tfusle.. th;:; Trust Del;ld ana ail promissory notes and documents
<br />evidencing a,,:ptHldltu.1:t5 !>ecured !'!eleb~. and shall dellyer :0 Truslee. a wrllten
<br />notiC8 of delauit and election to caU86 Uti! Properly to be sold, and the Trustee In
<br />lum shall pr6par6 b hlmii!l.r Notlct; 111 me form f6Quirec! t>y law. whtch shaH be duly
<br />tIleo fOf record b~ TnJ!>letl
<br />
<br />~a) A.he. the jap~e 01 such tlllle ,,~ l"ltiy 00 rbQulred tly law IOilowlng the record-
<br />eUol1 of said nOllce af t.larault, and notice of detauH and notice 01 sale having
<br />t>etl-n given ilS (eq'-llr~d by law, ;ruSlee. Without demand on Trustor, Shall sell
<br />the- Property on lna date and !H the !Ime and place desIgnated in sa.id notIce of
<br />sale, at publiC auction 10 the Mlgnesi NddEl', the purchase price payable in
<br />lawful monel' of the Unllad Stlltes 81 the tIme at 5ale The person conducting
<br />the sale may. tor any CilUllt; l16 oeerns &llpadlenl. postPOIl!:; the safe from Hme
<br />10 time unt!! H 5haii be compl@ted and, In every such case, notice at postpcne
<br />mant shall be given by public ceClaraUon th(H601 by such per50n al llle lime
<br />and place I/lst apPOInted lOr ihe sale, orovided. II the sate is postponaQ for
<br />longer than (1) day oeYOf1d the -oay deSignated in lhe nollce 01 sale. notice
<br />thoreot s.hal! DC:! \liven In lhe !:'-<ElHa milnner a;<,!he orIginal notice of sale.
<br />
<br />Trustlfe shaH 6At1ClHe ;],<1 08;iY6J 10 ~h& ~'urchaser hIS Ollad conveying the
<br />Pruperly !I01d. 0,,1 wJtt;(;.;, <,;1:" C0"an8n1 {)f warranty. e.:pre~s, o. implied. The
<br />recltal9 In Il'Ie D",ed Of ani' ;n"Uers 6r facts shall be conclusive prool of the
<br />truthJuln6SS (helact. l:;.n~ ;"e;;;~':l; Indu.Jp,v BOlleliclllry. may pUlcnase at the
<br />sale.
<br />
<br />lb) Whl:)n Trustee sells pwsuant 10 the powers herein, Ihe TrU~i>:}e shall apply the
<br />proceed" or the sale 10 payment of li'le COSls ana exptH1"'''S 01 flxarclsing th{\
<br />
<br />~~~~I;':nll;~~r:;'~~~: :~:~~:I:~ ~n~.I.U~1J_~~~~ ~:y;~~~ ~~:~r~;::~~~\~~'~~,:;~~
<br />
<br />lhe llemstn Subparagraph (c) in the order Inere stQlaa.
<br />
<br />~C) Aftar payIng lhe !tems spoci!ied In subparagraph (bl J! Inti "ale IS by 'frustee. Of
<br />the propar court and other COS1S Of loraclollura and sale i: ~~;<; Sole IS p\Hsuanl
<br />to Judicial foreClosure, lhfl proceQijs 01 sale shall b6 apph.l.J 1'1111", ':lFde. Sla\e<J
<br />to IhepaYffient 01
<br />
<br />(l) COlit 01 any l;!vidtmca 01 Hila ploctJrad In conntlcllol', ...:." IlU...., -"<lIe <HIt! 01
<br />any revanu;J 51amps,
<br />
<br />(Ill All gums lhen Sticured httr"by.
<br />
<br />(Ull HIe remllindm. il...n~, to !lIe "fllson i')gatl~ antilll.(llkj,c>,;
<br />
<br />I
<br />
<br />16 Dutle. IInd Obllg.Uon. of Tnalea !af The dutle.s and obllgations. of Trust&e
<br />shall be de/(lfmlned sol!!ly try tl1e e_prl;-SS prOViSions of the Trust Deed and Truslee
<br />shall not be liable except 101 th9 performance of such duties and obligations as are
<br />speclllcally SOl forth herem <lnd 110 implted covenants or obligatIons 8hal! be
<br />Imp05&d upon Tws!ee: (bl No prOVISiOn Of thIs Trust Deed Shall reQuIre Trustee ~
<br />expend or rIsk hiS own fundS. or otherwise incur any financial obligation In the
<br />performance 01 any 1)1 !Is duties hereunder, or In the exercise of any of lis right or
<br />powers. If fl snaft have grounds tor believIng that the rtipaymer:f 01 sueh funds or
<br />adequate Indemnity agafnst such fisk or ilabJHty 18 not reasonably assured 10 It;(C)
<br />Trustee mal' GonSUn With counsel at his own choosfng and lhe advice of such
<br />counsef shall be fUll and complete d-uthorlzatlon and prOlectlon In the respect of
<br />any actfon taken or sull6red by it hereunder In good faith and reliance thereon; {d}
<br />Trustee shall not be liable for any action taken by hIm In good faIth and
<br />believed by him ;0 be a,:thorizeO or ....Ithln tha dIscretIon or rIghts of Dowsrs
<br />conferred upon ft Dy this Trust Deed.
<br />
<br />17. Addltlon.l Securlty Instrumenta. TruelOr, at Its expense, will execute and deliver
<br />to the Trustee, promptly upon demand, such security ins-trumenfs as may be
<br />requtred by Tttistee, In form and substance satlslactory to Trustee, coverIng any of
<br />the Properly conveyed by this Tru91 Deed, which security instrument., shall be
<br />addftlonaf security for Trustor's faithful pertOf'maOCe of all of the terms;'c:o\'(i;nlints
<br />and conditions of this Trust Deed. the promissory notes secur&cl herebY, and 'an)'
<br />otl1er Securlly inSlruments executed in connection with Ihls trans.etlon. Such
<br />fnslruments shall be recorded or llled, and re.rOCQrded and retlled, at Trustor's
<br />expense.
<br />
<br />18. MI.~II.neous.
<br />
<br />ja) in the event an)' une or more of the provisIons contained In lhl, Trust Deed or
<br />lhe promls.!lOry note or any other sectJrlty Instrument gJven In connection wHh
<br />this transactIon Shall for any reason be held to be Invalid,' JIIegal or
<br />unenforceable in any respect, such !nvalldlty, llIegaUty, or unenforceablllty
<br />shall, al the optlon 01 BeneficIary, not affect any other provision of this Trust
<br />Deed, but this Trust Deed shall be construed as If such Invalid, Illegal. or
<br />unenforceable provIsion had never been contained herein or therein.
<br />
<br />(b) This Trust Deed shall be construed according to the laws of the State of
<br />NeDrasks,
<br />
<br />lc) This Trust Deed 3hall inure to and bind \ne heirs, legatees, devltlMS,
<br />admlrtlstrators, exscutors, succe9sors and assigns at the partIes hereto.
<br />
<br />Id\ Trustor shall pay aU taxes levied upon this Trust Deed or the debt secured
<br />hereby. together with any other t8Jtes or assessments which may be levlttd
<br />against the Trustee or Beneficiary or the legat holder of said promissory note
<br />on accouOl ol!he Indebtedness evIdenced thereby.
<br />
<br />WI! -~er usee: nerein. the singular number shall InClude the plutal, lhe
<br />.,lnD'I". the usa of a.,y gender shall De applicable to all genders, and Ihe-term
<br />"f'. . .I';I<:ry" shall ir,ctude any peyee of lhe indebtedneas hereby secured or
<br />r.n'r 'ransfer thereot. whether by operation of lew or otherwise.
<br />
<br />19, S:....~~::~ 'rm:!ee. Benef!ciary !'nay from tjm~ '0 tirro~ '-'JDstlhJ1"" II !!ou.::eeuor.:>r
<br />successors to any Trustee named herein or acUng hertlunder 10 execute this Trust
<br />Dead. Uoon such appointment and wilhout :;onveyance to the succeaaor Truatee,
<br />the latter shall be vested with all tUle, powers, and dutlss conferred upon any
<br />Trustee heraln named or actIng hereunder. Each suel1 ap~lntment and
<br />substltutlon ShaH be made by wrltlen Instrument by Beneficiary, containing
<br />rflference to thIs Trust Deed and Its place of record, which when recorded in' the
<br />otttce of the Reglstar of Deeds of Ihe county or counties In wnlch saki prOperty Is
<br />slluated !.hall be conci!Jslve proof of propel' appoIntment of the SUCC8uor Truetee.
<br />The foregoing power 01 subSlitutJon and the procedure therefore shall not be
<br />exclusive of Ihe power and procedure provided for oy law for the subathutlon of .
<br />Truslee or frustees In the place ot the Trustee.
<br />
<br />20. Forbll.ranc. by Beneficiary or lrust.. Not a W.tMr, Any forebear.nee by
<br />Beneficiary or Trustee In exercising any right or remedy hereunder, or othefwlae
<br />afforded by applicable law, Shalf not be a waiver of or preclude the eKerclse of any
<br />rIght or remedy hereunder, LikewIse, the waiver by Beneficiary or Trustee ot an)'
<br />default of Trustor under this Trust Deed shalf not be deemed 10 be a waiver of any
<br />other or similar defaults suOseQuenlly occurring.
<br />
<br />21. Trustor Not R.....ed. ExtensIon of the time for payment or modUlcatlon or
<br />amortlzaUon 'Ot the sums secuted by thts Trust Deed granted by Bel1$tiela.ry to any
<br />successor in Interest of Trustor shalt not operate to release. In any manner, the
<br />liability ot the original Trustor or nustor's :,uccessor In interest. Benetlci$'y shall
<br />not be reQulreo to commeoce proceedIngs against such successor or refua-e 10
<br />'3l!tend lime for payment or olherwlse modify amortfzatlon of the sums ~ured b)'
<br />thts Trust Dead by rea90n 01 any demand made by 1M Orlgtnal Trustor and Trustof's
<br />successors in !Oleresl
<br />
<br />22. Det.ult. tl there shall :::1} a default under this Deed of Trust or under an)' pfior
<br />'l'>ortgaga. the Bene/lciary may cure such detault, and the emounts- advanced br,
<br />and other costs and expenses of the beneUciary In curtng SUGh def.ult, with
<br />interest at the detault rate contained In tne Note secured hereby from the time 01
<br />the advances or paymenls shall be added to the indebtedness secured by this Trust
<br />Deed and may De collected hereunder at any time afler the time of such aclvances
<br />or payments and shall b6 deemecl to be secured hereby.
<br />
<br />23. Option to Foracloae. Upon the occurance 01 any default hereunder, Beneficiary
<br />shall have the opllon to foreclose this Trust Deed In the manner p~lded by law for
<br />ttJe foreclosure of mortgages on leal property.
<br />
<br />24. Trustar'. Rights, Ab.ent Oefault. Until any delault In the payment 01
<br />indebtedness tlereby secured or until the breach at any COV9nant herein contained.
<br />tne Trustor, its successors and assIgns, shaH possess and enjoy the property. and
<br />receive the rents and prollls lherelrom. Upon payment of all sums secured by this
<br />Trust Deed, Beneiiciary shalt request Trustee 10 reC-onve., tl1e property and shall
<br />surrender thiS TrUSI Deed aM au notes evidencing Indebtedness secured by this
<br />Trust Oeedlo Trustee. Truslaa shall reconvey the property wIthout warranty and
<br />without charge to l..,~ parsons legally entitled thereto. The Grantee In any
<br />reconveyance ma~ be descrlbed as ..the person or pelsons entitled thereto," and
<br />the lacitels therein of any matters or lacts shalf be (:oncl\Jslve proof of the
<br />lruthhliness lhefeot, $ucn pelson or persons shall pay aU costs ot r&COrding, If !!lny
<br />
<br />25 Ace.ler.Uon In lite EVll!,"!':'f Trenshtf. in the event the tllle 10 said real estate i9
<br />translened, or contracted to be t'anSferred, from the underSigned for any reason or
<br />by an~ method l'it\atsoe~ef. the entile prinCipal sum and accfUed Interest shajj at
<br />once become due and payable atl!1e ale-cHon 01 tile BenefICiary. Failure to exerCIse
<br />this optlon because 01 transter 01 \JIlt! as above stated In one in5tance shall not
<br />constitute a waiver ot the nght to exerCise the sa>lle lfl the evenl of any SubseQuenl
<br />henSltu
<br />
<br />26. Thl. deea of Irust ill junIor to**~ ..a--IUo.cta.age...d.a-ted.._.
<br />March 25, 1983 ' ,".
<br />..oovIoO by "v"o, 10 .Flr.st~Ma.tl.onal__Bank.____XOO"l'<< Now
<br />
<br />!:~'~1~~lprj~C~~/~~~f~e $t3 ~gM~ 8E-~ nd _ .__r.._~,2_~._~~.'_._~~.~~
<br />
<br />Dolllills and tiled fOll"CQII:! wllh It>t! Roglaler of Dews ana Identtlied liS tollows.
<br />
<br />Document #83-001490
<br />
|