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200501885 than full repayment of the Secured Obligations as a consequence of a foreclosure or conveyance in lieu of foreclosure of the liens and security interests securing the Secured Obligations) or at such earlier time as Beneficiary may elect, the balance of all amounts collected and in Beneficiary's possession shall be paid to Grantor and no other party shall have any right or claim thereto. Beneficiary at its election may commingle funds received under this Section with other funds of Beneficiary. The provisions of this Section are not intended to contravene any applicable requirements of the laws of the State of Nebraska, and from time to time the provisions of this Section shall be deemed modified as necessary to be in conformance with the laws of the State of Nebraska (provided that the provisions of this Section shall be controlling to the extent any contrary requirements of Nebraska law may be waived, and Grantor hereby waives those requirements of Nebraska law to the fullest extent allowed). 5.4 PERFORMANCE OF SECURED OBLIGATIONS. Grantor shall promptly pay and perform each Secured Obligations when due. Time is of the essence of this Deed of Trust. 5.5 LIENS, ENCUMBRANCES AND CHARGES. Grantor shall immediately discharge any lien or encumbrance against the Subject Property or Collateral not approved by Beneficiary in writing. Subject to the provisions of the Loan Agreement regarding mechanics' liens, Grantor shall pay when due all obligations secured by or which may become liens and encumbrances which shall now or hereafter encumber or appear to encumber all or any part of the Subject Property or Collateral, or any interest therein, whether senior or subordinate hereto. 5.6 DAMAGES; INSURANCE AND CONDEMNATION PROCEEDS (a) The following (whether now existing or hereafter arising) are all absolutely and irrevocably assigned by Grantor to Beneficiary and, at the request of Beneficiary, shall be paid directly to Beneficiary: (i) all awards of damages and all other compensation payable directly or indirectly by reason of a condemnation or proposed condemnation for public or private use affecting all or any part of, or any interest in, the Subject Property or Collateral; (ii) all other claims and awards for damages to, or decrease in value of, all or any part of, or any interest in, the Subject Property or Collateral; (iii) all proceeds of any insurance policies (whether or not expressly required by Beneficiary to be maintained by Grantor, including, but not limited to, earthquake insurance and terrorism insurance, if any) payable by reason of loss sustained to all or any part of the Subject Property or Collateral. The insurance proceeds referred to in this Section 5.6 shall include, but not be limited to any proceeds from any third party insurance purchased by a tenant of the Property, which insurance shall name Beneficiary as mortgagee and loss payee, and shall further include Grantor's right title and interest in the proceeds of any tenant self insurance allowed pursuant to a lease (which lease must be approved by Beneficiary in its sole and absolute discretion); and (iv) all interest which 12 #1060655 A