|
2oioooos~
<br />M. Material Change. Without first notifying Lender, there is a material change in Grantor's business,
<br />including ownership, management, and financial conditions.
<br />N. Insecurity. Lender determines in good faith that a material adverse change has occurred in Grantor's
<br />financial condition from the conditions set forth in Grantor's mast recent financial statement before the date
<br />of this Security Instrument or that the prospect for payment or performance of the Secured Debts is impaired
<br />for any reason.
<br />15. REMEDIES. On or afiter default, Lender may use any and all remedies Lender has under state or federal law
<br />or in any document relating to the Secured Debts, including, without limitation, the power to sell the Property.
<br />Any amounts advanced an Grantor's behalf will be immediately due and may be added to the balance owing
<br />under the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be
<br />available an Grantor's default.
<br />Subject to any right to cure, required time schedules or any other notice rights Grantor may have under fiederal
<br />and state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts
<br />immediately due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a
<br />default or anytime thereafter.
<br />If there is a default, Trustee will, in addition to any other permitted remedy, at the request of the Lender,
<br />advertise and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash.
<br />Trustee will give notice of sale including the time, terms ,and place of sale and a description of the Property to
<br />be sold as required by the applicable law in effect at the time of the proposed sale.
<br />To the extent not prohibited by law, Trustee will apply the proceeds of the Property's sale in the following
<br />order: to all fees, charges, casts and expenses of exercising the power of sale and the sale; to Lender for all
<br />advances made for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon;
<br />to the Secured Debts' principal and interest; and paying any surplus as required by law. Lender or its designee
<br />may purchase the Property.
<br />Upon any sale of the Property, Trustee will make and deliver a special ar limited warranty deed that conveys the
<br />property sold to the purchaser or purchasers. Under this special or limited warranty deed, Truster will covenant
<br />that Trustee has not caused or allowed a lien or an encumbrance to burden the Property and that Truster will
<br />specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful
<br />claims and demand of all persons claiming by, through or under Truster. The recitals in any deed of
<br />conveyance will be prima facie evidence ofi the facts set forth therein.
<br />All remedies are distinct, cumulative and riot exclusive, and the Lender is entitled to all remedies provided at law
<br />or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial
<br />payment on the Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are
<br />filed will not constitute a waiver of Lender's right to require full and complete cure of any existing default. By
<br />not exercising any remedy, Lender does not waive Lender's right to later consider the event a default if it
<br />continues or happens again.
<br />16. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law,
<br />Grantor agrees to pay all expanses of collection, enforcement or protection of Lender's rights and remedies
<br />under this Security Instrument or any other document relating to the Secured Debts. Grantor agrees to pay
<br />expenses for Lender to inspect and preserve the Property and for any recordation costs of releasing the Property
<br />from this Security Instrument. Expenses include, but are not limited to, attorneys' fees, court casts and other
<br />legal expenses. These expenses are due and payable immediately. If not paid immediately, these expenses will
<br />bear interest from the date of payment until paid in full at the highest interest rate in effect as provided for in
<br />the terms of the Secured Debts. In addition, to the extent permitted by the United States Bankruptcy Code,
<br />Grantor agrees to pay the reasonable attorneys' fees incurred by Lender to protect Lender's rights and interests
<br />in connection with any bankruptcy proceedings initiated by or against Grantor.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, 111 Environmental
<br />Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act
<br />(CERCLA, 42 U.S.C. 9601 et seq.1, all other federal, state and local laws, regulations, ordinances, court orders,
<br />attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a
<br />hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste,
<br />pollutant or contaminant which has characteristics which render the substance dangerous or potentially
<br />dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any
<br />substances defined as "hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or
<br />"'regulated substance" under any Environmental Law.
<br />Grantor represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance has been,
<br />is, or will be located, transported, manufactured, treated, refined, or handled by any person on, under or
<br />about the Property, except in the ordinary course of business and in strict compliance with all applicable
<br />Environmental Law.
<br />B. Except as previously disclosed and acknowledged in,writing to Lender, Grantor has not and will not cause,
<br />contribute to, or permit the release of any Hazardous Substance on the Property.
<br />C. Grantor will immediately notify Lender if 11) a release or threatened release of Hazardous Substance
<br />occurs on, under or about the Property or migrates or threatens to migrate from nearby property; or 12- there
<br />is a violation of any Environmental Law concerning the Property. In such an event, Grantor will take all
<br />necessary remedial action in accordance with Environmental Law.
<br />D. Except as previously disclosed and acknowledged in writing to Lender, Grantor has no knowledge of or
<br />reason to believe there is any pending or threatened investigation, claim, or proceeding ofi any kind relating to
<br />111 any Hazardous Substance located on, under or about the Property; ar 1~1 any violation by Grantor or any
<br />tenant of any Environmental Law. Grantor will immediately notifiy Lender in writing as soon as Grantor has
<br />reason to believe there is any such pending or threatened investigation, claim, or proceeding. In such an
<br />NEBRASKA INVESTMENT ASSOCIATION, LLC
<br />Nebraska Dead Of Trust ~~ Initials
<br />NE/4jmccrode00118800006832024120809Y Wolters Kluwer Financial Services ®1996, 2009 Bankers Systems'" Page 4
<br />,,, 'y ~ ~ ~ '. ~ a 1 r 1 f
<br />
|