|
<br />and. wlthOH! demand, shall be Immediately t1t~e ilnd payablll by Trustor and shall
<br />bear In!ere~t at t~e maltlmum a!tow,~e legal rate, provided, however, thaI at the
<br />option 01 Benellclary or Trustee SOCh sums may be added to the principal balance
<br />ot any indebtedness secured hereby and shall bear the same lflterest as such
<br />Indebtedness and shall be payable ratably over the remaming term thereol
<br />
<br />10, As.lgnment of Rents. Beneficiary shall have 1M light. power and authority
<br />durIng the conllnuance Jof 1his Trusl Deed to collecl lhe rents. Issues and profits of
<br />the Property and of any personal property located thereon with or without lak!ng
<br />possession of Ihe property affected hereby. and TrustOr hereby absolutely and
<br />uncdndltlonally assigns all such renls. issues and prohls to BenefiCial)'
<br />Beneficiary, howev<:lr, hereby consents to the Trustor's collection and retention of
<br />such rents, Issues and profits as they accrue and become payable so long as
<br />Truslor is not. at such times. in default wltn respect to payment of any
<br />indebtedness secured I'!ereby or in me performance of any agreement hereunder
<br />Upon any such default. Bene1lciary may at any lime, either in person. by agent. or by
<br />a receiver 10 be appointed by a cour!, without notice and without regard to the
<br />
<br />eo ~:ke:~~~~~s~~ ~~~:I~~~~~~e~;:~~~e:_~~~:;:~~~~~;~~~;~'~~} ~;,~:; ~~:~o~~~
<br />'~1 otherwise collect such rents, issues and proms. rnc!udl!1g those past due and
<br />~ ~n~:~~~~~~aa::~:~I~e a~::~~~ef:~.o~~~~~~;:~:~~Sd~~:::~~~~~ a:r;~~~eac~~o~
<br />1C ~~~~c~:~~ra:~:ye:f~~I~~s;~Yo;;~~~~:~~;c~b~s~~;Otr~ vSa~~: :ICtt~e ~r;;:~~; (~~
<br />0: lease the same or any part 1nereol for such renlal ferm. and upon such conditions
<br />C :~I:~~~,u:~~~~~I~ro~i~1,a~:n~s~l~sS$Su:~u~~0~r~~1~5 8t';;~~~i~~ea~;=n~:~e~~su~~~
<br />
<br />hereby shall not extend or postpone the due date 01 Ihe ln5tallment payments as
<br />t providf'd in said promissory note or change the amount of such installments. The
<br />entering upon and laking possession of the Property. the collection 01 such rents,
<br />issues and profits. and the appllcationthereol as aforesaid, shall not wallie or cure
<br />any default or notice 01 defaull hereunder. or imalidate any act done pursuant to
<br />
<br />~ ~~~~r~~I~~~ o~r~~~o~b~I~:t!~~:j;~~U:~d ~~~:~~.I~~, p::p~~~t~:~tss:~~rl:~1 ~~n~::
<br />
<br />ex:> which may have been or may hereafter be deposiled with said Trustor by any lessee
<br />of t~e Property. to secure the payment ot any lent. and upon default in tile
<br />performance 01 any 01 the prOVISions I'lereoi, Trustor agrees 10 deliver such rents
<br />and deposils to the Benel!ciary Delivery ot .....rlllen nollce of Ihe Belleltclary'S
<br />exerCise 01 the rlghts granted he'eln. to any lenant occupying said premises shall
<br />be sulllclenl to reqUire said lenant to pay saId rent Ie Ihe BenefiCiary until further
<br />notice
<br />
<br />11, Le.Md p,.mitN, Within 10 day~ after demand, Trustor shall furnish to Trustee
<br />8 schedule certified to be true. settlng forth all leases of space in the Trust
<br />Property then In effect, Including, In each case, the name 01 the tenants and
<br />occupants, a descrlptlon of the space occupied by such tenant and occupanl, the
<br />ranlal payable for such space and such other InformatIon and documents with
<br />respect to sucl'lleas8s and tenancies as the Trustee may request
<br />
<br />Without the prior written consenl 01 Truslee. Trustor s>Je.1l not. dlrecUy Of
<br />l.ndlrectlY, with r(lspect to any lease of space in me CG~t;;rlt)ed premises. wn~ther
<br />such lease Is now or hereafter in elllstence; ia) accept or permit any ...:~ps,mant,
<br />discount or advance rent payable thilreunder; (b) cancei or terminate the same, O'
<br />accept any cancellaUon, lormlnalion or surrender thereot, or permit any event to
<br />occur which wvouldenUlle the lessee thereunder to terminate or cancel the same; iC)
<br />amend or modify Ihe same so as to reduce the term thereof, the lental payable
<br />tl'lefeunder. or to change any rene...1 pravls-Ions therein contained; tdl waive any
<br />default thereunder or breaCh thereof; (e) give any consent. waiver or approval
<br />thefeunder or take any other action in connectIon thereWith, or with a lessee
<br />thereundar, which would have the eflect of impairing the value of lessor's interest
<br />therr,mder, on the Property subl~t Ihereto. Of of jmp!lirln~ the position or interpt
<br />of t~ Trustee or Beneficiary: or (f) eel!. a:Jsj~n. p!ed~e, mortgage o~ otherwise
<br />dlsposeol, or encumber, Its interest III any such lease or any rents, issues or prollts
<br />Issuing or arising thereunder.
<br />
<br />12, Conckmn.Uon.lt litle to any part of tne Property shall be taken in condemnation
<br />Proceedings, by right of eminent domain or similar action, 6r shall be sold under
<br />threat of cOndemnation, all aWlUds. damages ana proceeds are hereby assigned
<br />and shall be paid to Beneficiary who shall apply such awards, damages and
<br />proceedft to the sums secured oy ttte Trust Deed, ...ilh If\e ellcess, II any, paid to the
<br />Trustor. Trustor will promptly, and with due diligence, repair, alter and r&stma the
<br />remaining part of the Trust Propefty to its former condition subStantially to the
<br />elllent that the same mlly be feasible and!lO as to constll\Jta a complele and usable
<br />unit
<br />
<br />13_ Futww ~ Upon request of Trustor. Beneficiaf)'. at BefHtficlary'S ootion.
<br />prior to r&COnveyance of the Pr~rty to the Trustor, may make future advances to
<br />tile Trustor. Suen future aavanees, with mta/est thereon, shall t)8 secured by this
<br />Trust Deed when evidenCed by promISSOry notes stllltit'lg that said notes are
<br />secured hereby, provided lhat at 110 lime shaH ll'le Sl:lCured prIncipal, future
<br />adVances, not inciUdlr:Q :!!l.lms aa'o'anciKl to protect the secuflty, exceed one
<br />hundred percent (tOO~'.1 of the ongmal prlflcipallimounts secured hereby
<br />
<br />\4_ Remed... CumulaU... All ram8.;iies provldftO IIIttliS Trust DNd are dlstinCI and
<br />cumulaU~e to any other right or remedy under thIs Trust Deed or a!lorded by law or
<br />oqully, and ~y be 811.1IIrCI&ft(J conCUlrently. ImJepenf;1enlly or SUCCltslllvely
<br />
<br />lS. ~.lIon; ~~ Sate.. Upon delauit ~y Trus-tOl In lhe payment of any
<br />l~t-.dMas ",'Uled hereby Of In lhe perhxmllnce of an.,. agreemenl hereunder,
<br />a.neUclary may decla~ a.ll sums I!IlltCured nereby lmmedl;t;tely due and payable by
<br />d.lt\'ety 10 TruSl.. 01 WHiten a~larilUon 01 celaua. lne T'ustee snail nave me
<br />pow., 01 saki: 01 the Pf~Ity ..nd It Beneltciary desheS lhe Property to b& sold, II
<br />shall depoalt ..Uh Trustee thiS Trust Deed and all promissory notes and documents
<br />!IvkMnclng expenaltures secured hereby, and sl'lall deliver to Tl'\Jstee, a written
<br />notICe of detault and ehtcu.on to cause the PrOPQrty to be sold, and the Trustee In
<br />turn shall prepare il siroHilr Notice In the form required by law, which shall be duly
<br />!ilod lor record by Trustee.
<br />
<br />{a} After lhe lapse 01 such tlm6 as mOly be requIred by law tollOWIflQ 1M record.
<br />ation at uld notice of default. and notice of delaull and notice of sale having
<br />bNn given as r&qui,eel by 14*, Trustee, without demand on TruSlor, shall sell
<br />the Ptoperty on the date and at the lime and place designaled In said notice 01
<br />hie. 4t public auction to ttle tliQMSl bidder, 1M purChase price payable In
<br />lawful money ot the UnitEd States .t the time of sale. The person conducting
<br />the ullll n:ay, f?1 aay cause he deems ell.pedlent, postpontl the sale Irom time
<br />to time uoW II sh-all be completoo and. lfI every such case, notice of postpone-
<br />ment shall be given by public de<;laratlon ther80f by such person at the time
<br />and place last appointed lor Ihe sale; provided, if the sale Is postponed for
<br />longer than (1) day beyond tile day deSignlltoo In the notice of sale, notice
<br />thereof shall be given in 1he same manner as the original nollce ct sale
<br />
<br />Tnostee shall fjl:$Cute and dt:lllver to II'Ie purchaser nls Deed conveyIng lhe
<br />Prcpe-rty sold, tHJt w!thoul sny covenant Ot warranty, 8Xpru$S, or Implied, The
<br />taclt<ilfs. in the D600 ot an)-- malt60f5 or tects sl'lall be conclusivEl proal of the
<br />truthfulness tl'leieol. .A.ny person. including 8anaftcI8f)', may purchase at tfle
<br />hie.
<br />
<br />(b) When TrU9tee 9.IlS pursuant to the powers herein. 11'1& 1 rusttMO Shall aPr1y the
<br />pfoceeds 01 the sale 10 payment of the costs and expenses of exelclslng the
<br />power of uJe and of lhe 1liiIe, Including the payment o! lhe Tru:uee's Fee$
<br />aetu.lly Incurred, not 10 exceed .. .,_^_ 0-- ___....0 ollhe sale price. a~d then \0
<br />the Items In subparagraph (clln ttle Older the,e stated.
<br />
<br />(c) AUer paying ttMl aems ~POGjfi~ In subparagraph tb) If 1htl sale [$ by Trustae, or
<br />tile proper court and other coata of IOfl~cl06ure and sale It H1i! sa.e 15 pur9uant
<br />~~ t~I~~I~~~~~9UIIII, th9 proteed$ of sale shall be llPpliaO In Ihij: ordtlr statoo
<br />
<br />
<br />II) C04t 01 any eVIdence of title procurea m connecl!ol1 ....1lt1 such :ia!e and Oi
<br />any rev9nutt <Iomps;
<br />
<br />(it) A.1I sumfll~en sec\Jred htlleo)'
<br />
<br />WI) 1t!e 'tlm"lnd~}f.;I ~ny.lo Ih<il por~<)f) Il;lQ8I1y Qfltitle{! th<),et;;
<br />
<br />16. Outl.. and Obligations 01 Tru.tee. (a) The duties and obligations of Trustee
<br />shall be determined solely by Ihe express prOVisions of the Trust Deed and Trustee
<br />shall not be Hable except lor Ihe performance 01 such dulles and obligations a!}.are
<br />specifically sa! forth hereIn, and no Implied covenants or obligations shall be
<br />imposed upon Truslee; (b) No provisIon of this Trust Deed shall require Trustee to
<br />expend or risk hIs own funds, or otherwise Incur any financial obnoallon In the
<br />performance 01 any of Its dulles hereunder, or In the exercise of any oOts right or
<br />powers, If it shall have grounds for beller"Jng that the ""payment of such funds or
<br />adequate Indemnity against such risk or Jiabillty Is nGf re-8sonabty aSllured to It; (c.
<br />Trustee may r.Ontwlt wllh counsel of his own Choosing and the advice of such
<br />coul"lsel shall be full and complele authorization and protection In the r8$peot of
<br />any action taken or suffered by it hereunder In good huth and reliance thereon; (d)
<br />Trustee shall not be liable for any action taken by him In good faith and
<br />believed by him to be authorized or within the discretion or rlghls of - powers
<br />conferred upon II by this THJst Deed.
<br />
<br />17. Addltlonel Securtty In.tl'UfUnta, Trustor, at Its expense, wllf ex8GUte- and delmtr
<br />to the Trustee, promptly upon demand, such security Instruments Q _ -may be
<br />required by Trustee, In form and sub!.tance- seuaf-actory to TN'''', covenng any of
<br />the Property convey&d by this Trust Deed, whIch security Inatrurnent$-:.haIl~be'
<br />i;;Miff","'i,;;l socuill)' for Truslo,'s faithful P'iirlvm;ii.1idi 01 all ",1 th& term.; ~;i:nt6
<br />and conditions of this Trust Deed, the promIssory notea secu~ _~;,.~ any.
<br />other security instruments executed In connection with thla tranaactkm.:- Such
<br />Instruments shall be recorded or flied. and re-recorded and teffled,' -af-TrulfOn;-
<br />expense.
<br />
<br />18. MI~lIIneou.,
<br />
<br />(a) In Ihe event anyone or more of the proviSions contained 1n thle T_ru."~O!,
<br />the promissory note or any other aecurtty tnstrument gIven-In connecuon--Wijh
<br />this transaction shall for any reason be hetd to be ,Inva!ld. :ii!~"C!f.
<br />unenfon::eable In any respecl, such Inval~, ltIeganty,-_OT,uoenfOtCeebIQtY
<br />shall, at the option of Beneficiary, nol effeci any othei'provlaforfof thla- Truet:
<br />Deed, but this Trust Deed shall be con.trued as If such -'Invalid. lIregal, or
<br />unenforceable provision had n$\ler been contained herein orthereln,
<br />
<br />(b) This Trust Deed shall be construed according to the lawe 0' the State of
<br />Nebraska.
<br />
<br />(c) This Trust Deed shall Inure to and bind lhe heins, legat~, deYlMos,
<br />administrators, executom, successors and aulgna of the parttes ~o.
<br />
<br />ld) Trustor shall pay aU taxes levied upon this Trust Deed_-or-the- debt neurad
<br />hereby, together with :any other taxes Or a8M8smenls whJch may be-Ievted-
<br />agalnstlhe Truatee or 8enellclwy or the legal hoIcHIr of said promltaofy note
<br />on account of the Indebtedness $\Ildenced1hareby.
<br />
<br />l'f) Whenever used herein, the singular numbet' shall Include the plural. the
<br />-Ingular, the use cf any gender shali be appllcabJe to all genderi-, and 1M term
<br />Benef!clary" !!hall ';"Iclude any payee 01 the Indebtedness hereby secu~ or
<br />any transfer tI13:t!'- :, whether by operation of law or otherwfaa,
<br />
<br />19, SUccHaorTrua.... Benellclary may from time to IIms aubttltule a 8Ucces8Ot' or
<br />SUCC'llISSOtS to any Truslee named. herein or acting hereunder to lIXecute 1'* Truat
<br />Deed. Upon such appOintment and without conveyance to the SUCC8lS8Ol Truatft.
<br />the laUer shall be veated with all Utle, powera, and dutl81 ccnf8n'ed uPQn' any
<br />Trustee heroin named or acting hereunder. Each such appointment and
<br />subatllutlon Shall be made by written Instrument by BentfiOlaI)'. ,eontatnInQ
<br />r<<tterence to this Truel Deed and Us place of record, which when ,.conHcUn:U.
<br />office oflhe Reglater 'Of Deeds ot the county Of counties In whldl-eakI PfQPMtY 1I
<br />situated sha;11 ba conclusive proof of proper appolntm.rtt of tM aucceMQf l'~
<br />Th. foregolng power of substitution and the procedure therefOle_MalI_not be
<br />exclusive of the power and prOCedure provided for by law for tne sub$tt1utton of .
<br />Trusteeor Trustees In the place of lhe Trustee.
<br />
<br />20. Forbearance by B.....ldlry Of TNaIee Not . W....... Any forebIatanCe b)'
<br />Beneficiary or Trustee In exercising any right or remedy hereunder, or otherwfH
<br />afforded by applicable law, ahall not be.. waiver 0' Of preclude the "~eIO_ot any
<br />right or remedy hereunder. Likewise, the waiver by Benefk:laly or TN.tM_of any
<br />defaull of Trustor under this Trust Deed shall nol be deemed 10 be . watver of any
<br />other Of almilar defaults subsequently occurring.
<br />
<br />2t. Trustor No1 Ret..aed. E:l(tenalon of the lime: for payment or modification Of
<br />amortlzaUon of the sums secured by this Trust Deed granted by hMflclary to any
<br />successor In Interest of Trus10r shall not operate 10 release, In any map......:_t"-
<br />lIablllly of the original Trustor or Trustor's aucceuor in interest 8eneflciaty shan
<br />not be required to commence prOCHdlngs against IUeh SucceHOI' Of refuse to
<br />extimd time lor payment or otherwise modify -amortization of the sums S8CUfed by
<br />thIs Trust Deed by reason of any demand made by the original Trustor and Trustor's
<br />SiJccessors In Interest,
<br />
<br />22. Default If there shall be a def.ull under thla Deed of Trust 01 under any prtor
<br />mortgage, the Beneficiary mllY cure such default, and 1he amounts advanced by,
<br />and other coats and expenses of the benellclary In curing such default, with
<br />Interest at the default rate contained in the Note St)Cur9d hereby from 1M UrM of
<br />the adVanCElB Of payments shaH be added to the Indebtednen aecured by this Tru.1
<br />Deed and ma,. be collected hereunder at an)' time alter the 1lme of \Weh ad....ncea
<br />or payments and shall be deem&d to be secured hereby.
<br />
<br />23. Option 10 F~. Upon the occur.nce of any liaf.ult Rafeuoo., Beneficiary
<br />,hall have the option to forlX:lose this Trust Deed In the mann.r provided by law for
<br />the foreclosure of mortgages on feal property.
<br />
<br />24, Trualcw'e Rlghta, AbQnl o.l.ult, Until any default In the payment of
<br />Indebtedness hereby secured or until the breach of any coyenant herein contalnecl,
<br />the TruSlor, lis successors and assigns, snail possess and enjoy the property, and
<br />receive the reols and proll1s therehom. Upon payment at all sums secured by Ihls
<br />Trust Deed, BeneficIary shall request Trustee to reconvey the property and ahall
<br />surrender this Truet Deed and all notes evidencing Indebleclnesa secured by this
<br />T~ust Deed to Truslee. Trustee shall reconvey the property without warranty and
<br />WIthout charge to the persons legally entitled thereto, The Grantee 1n any
<br />reconveyance may be descrIbed as "the person or persons entitled thereto," Ilnd
<br />the recitals therein 01 any matters or facts shaH be conclusi~e proof of 1he
<br />IruthfI,Jln83S Ih8f80!, Suct! parson or persons shall pay all costs of recording, If any.
<br />
<br />25_ AcceJMauon In th8 E~t of Tr.n.lar. In the avent 1~8 title to s.ald real eslate 13
<br />!ranslene<!, 01 contracted 10 be transferred, hom the undersigned for any reaaon or
<br />by any method whatsoaver, the enllre prinCIpal sum and accrued Interest shall at
<br />once become due and payable at the election 01 the BeneficIary. Failure to ellerclse
<br />this option because 01 transfer of tiUe as above stated In one Instance shall not
<br />constltule a waiver 01lh6 !lghtlo exercise the same in the event 01 any subsequent
<br />transfer
<br />
<br />:reo Thl. deed 01 tru.t 18junl01 ttJ OOG caleo ._ _ .. ~Q1'llL...
<br />
<br />.Jt$(:uled by Trustor to
<br />
<br />Tru.t..,
<br />
<br />Heuring Il principal nole 101
<br />
<br />DollariS and 1l1tk1lof re1.:ord with the RttglOIGf of Oeedsand Identllled as follOWS,
<br />
|