|
pill f[ly�.i
<br />exercise of any or all of such rights or remedies upon the request of the Beneficiary and at the direction of
<br />the Beneficiary as to the manner of such exercise or waiver, provided that the Trustee shall have the right
<br />to decline to follow any such request or direction if the Trustee shall be advised by counsel that the action
<br />or proceeding, or manner thereof, so directed may not lawfully be taken or waived.
<br />F-11ZW4q
<br />POSSESSION UNTIL DEFAULT; SATIFACTION
<br />Section 5.01. Possession Until Default. Until one or more Events of Default shall have
<br />occurred, the Grantor shall be permitted to retain actual possession of the Trust Estate, and to manage,
<br />operate and use the same and any part thereof; with the rights and franchises appertaining thereto,
<br />including, without limitation, to collect, receive, take, use and enjoy the rents, revenues, issues, earnings,
<br />income, products, profits and proceeds thereof or therefrom, subject to the provisions of this Deed of
<br />Trust.
<br />Section 5.02. Satisfaction. If the Grantor shall well and truly pay or cause to be paid the
<br />Indebtedness at the times and in the manner provided in the Loan Documents, and shall also pay or
<br />cause to be paid all other sums payable by the Grantor hereunder, and shall keep and perform all
<br />covenants herein and in all of the Loan Documents required to be kept and performed by it, and there are
<br />no further obligations to make advances to the Grantor under any of the Loan Documents, and all of the
<br />Loan Documents have been terminated, then and in that case, all property, rights and interest hereby
<br />conveyed or assigned or pledged shall, upon the written request of the Grantor, revert to the Grantor and
<br />the estate, right, title and interest of the Beneficiary shall thereupon cease, determine and become void,
<br />and the Beneficiary, in such case, at the Grantor's cost and expense, shall enter satisfaction of this Deed
<br />of Trust upon the record.
<br />ARTICLE VI.
<br />MISCELLANEOUS
<br />Section 6.01. Property Deemed Real Property. It is hereby declared to be the intention of the
<br />Grantor that all the Trust Estate, including, without limitation, all rights of way and easements granted or
<br />given to the Grantor or obtained by it to use real property in connection with the construction, acquisition,
<br />ownership, use or operation of the buildings or improvements located on the real property encumbered
<br />hereby, and all other property physically attached to any of the foregoing, including fixtures now or in the
<br />future attached to any of the foregoing, shall be deemed to be real property, to the extent applicable law
<br />allows such property to be treated as real property.
<br />Section 6.02. Deed of Trust to Bind and Benefit Successors and Assigns. All of the
<br />covenants, stipulations, promises, undertakings and agreements herein contained by or on behalf of the
<br />Grantor shall bind its successors and assigns, whether so specified or not and all titles, rights and
<br />remedies hereby granted to or conferred upon the Beneficiary shall pass to and inure to the benefit of the
<br />successors and assigns of the Beneficiary. The Grantor hereby agrees to execute such consents,
<br />acknowledgments and other instruments as may be requested by the Beneficiary in connection with the
<br />assignment, transfer, convey, hypothecation or pledge of the rights or interests of the Beneficiary
<br />hereunder or under the Loan Documents or in and to any of the Trust Estate.
<br />Section 6.03. Headings. The descriptive headings of the various articles and sections of this
<br />Deed of Trust were formulated and inserted for convenience only and shall not be deemed to affect the
<br />meaning or construction of any of the provisions hereof.
<br />Section 6.04. Notices. Any notice, request, demand, consent, confirmation or other
<br />communication under this Deed of Trust shall be in writing and delivered in person or sent by facsimile,
<br />recognized overnight courier or registered or certified mail, return receipt requested and postage prepaid,
<br />12
<br />5301729
<br />Hall County, Nebraska
<br />
|