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<br /> -. , - 7.Emtaent Comain.Lender is hereby assigned ati compensauon.awards,damt+ges and other payments or relief lAerainaher'Roceeds') ' "`'�-
<br /> ' • • in wtuiection wtth condemnalias�or oiher taking of the Pcoperty or part thereof,or for conveysrtce in tieu of condemnation.Lender shall ' ��^;�
<br /> . � '--" � taken or damaged,Lender ahaU have the opiton in its sote and absotute disuetion,to eDpiY ali such Proceeds,after deducting therelrom -' �
<br /> � � " �, � eli costs and expenses inarred by it(n connection with such Ftoceeds,upan eny indebtedness sacured here6y and in such order as "' � �.
<br /> � - �. ' � Lender may determ(ne,or to appty all such Proceeds, shet such deductions,to the restoratian of the Prop6rty upon such eonditfone as o
<br /> , i Lender may determine.Any appiicatian of Praseeds ta indebtednctss shaii not extcnd or postpone tAe due date oi eny payments under
<br /> ttie Note,or eure any detauit thereunder or hereunder.My unappiied funda shatl be paid to Trustor. ,�,
<br /> � ` ,i 8.Pertortnancv Ay Londor. Upon the occurrenee of an Event of Oetautt hereunder, or ff any act is teken or tegal proeeeding •
<br /> � ` , ,` � comm¢nced which materiaity affects Lendera fnteresi in Me PropeRy.Lender rney fn its own discretion,but without abiigetton to do so, �;% s • :�
<br /> and wftl�out notice to ar demand upon Trustor and civithaut reteasing Trustor irom eny oOtlgation,do any act which Trustor has agreed�
<br /> but faita to do an�me y a(so do ap y other aci it deems neteasary to protact the sewrity hereof.Trustor shafl,immediatety upon demand�
<br /> �. �
<br /> ° therefof by lender, pay to Lender sil wsts and eupenses incurred and sums expended Gy Lender In wnnectlon with the exerdse by � , -
<br /> � �- � � lender of the forego(ng dghta,together with Interest thereon at the defauk rate provided in the Note, which shall be added to the �
<br /> __ � indebtedness secured�ereby.Lender shall not incur any liability because of anything it may do or omit�o do hereunder. - _
<br /> `T 8.Ha�Oaus Mate�lats.7rustor�aU kftap the P'raperty in�Ilance vuith a!1 appGeable laws.ordinances end regutations retatin�to� - --
<br /> a a
<br /> ., 4�� industrial h y gieae or environmental protectlon(caUsetive(y referred to hereln as`Environmental Laws').Trustor shell keep the Pmperty . ; •,
<br /> � free from ai!su6stances deemed to be hazardaus or toxic under any Envtronmental Laws(coilectively refe�ed to herein as'Ma�dous�
<br /> - , ,� , Materials').Trustor hereby warrants and repcesents to LQnder that there are na Fla�rdous Materiai on or under the Prapetty.7rustor . y�� �
<br /> , he�eby agrees to in4emnify and hotd hartnless Lender,ita directors,offtcers, emptoyees and agents, and any successors to Lendefs� ��
<br /> � ; , iMerest,fram and against any and all daims,damages, toss@s end liabilitles arising in connectiort with the presenee,use,disposal or : ,
<br /> � transport of eny Hazardous Materiais on,under,from or about the PtoAertY•THE FOREGOING WAHAANTIES AND REPRESENTATIONS, �'�� ; �. � �
<br /> _ AND TRUSTOR'S OBi16ATlONS PUHSUANT TO THE FOREQOI►V(3 INOEMNITV,SHALL SUAVIVE RECONVEYANCE OF THi9 DEED OF ° � � � '
<br />.:,:,`, � s... TRUS'f. �
<br /> 10.Assignmer�t of Rents.Trustor hereby assigns to Lender,and grants Lender a security interest in,afl present,future and after �;_,�• .,
<br /> _ ; , , :`ti� rising rer►ts,issues arsd profits of the Property;provided that Trustor sfiall,until the occurtence of an Evertt of OefauR hereundet,have V; <<�'
<br /> � _ the right to coitect end ratain suct�rents,issues and proflts as they hecome due and payabte. Upon the oacurre��e of an Event of `'=--^=
<br /> � ' • ... Defauft.Lender may, etther in persan or by agent, with or without 6ringing any action ot procesding,or by a receiver appoiMed by e �: � . _
<br /> court and w8hout regard to the adequacy of its securfty, enter upon and take possession of the Proparty.or any part theteot,in ite OYm �
<br />:.�.;� �, c;,;; name or in the name of the Trustee, and do any acts which it deems necessary ar desirabte to preserve the vafue, markete6ility or , 'y ` ,__
<br /> - � rentabiiRy of the Property,or eny paR thereof or IMerest therein,or to inctease the income therefrom or protect the security heteot and, ';.�
<br />��� with or withaut takfig possessian ot the Property,sue for or othervvlse caltect the rents,issues and profits thereof,inciuding thase past ;�"`' ;:'si-:,
<br /> , . _ ,.���E� due and unpaid,by notifying tenanis to make payments to Lender. Lender may apply rents,issues and profrta,tess costs end expenses !_�
<br /> , -':�;, of operation and coflecrion inciuding ettomeys'fees,to any indsbtedness sscured here6y,a!1 in such order as Lender may determine.The ,�•�,:,
<br /> -� . entering upon and taWng possession of the Property, the wUectton of such rents, issues and profhs, and tfie applicatian thereof as �'- • ,�'y����.
<br /> . , , aforesafd,shail not cure ar waivo any defauti or notice of Qetault hereunder or invalidate any act done In response to such defautt or '��.'. '` .,.`�'�-'-
<br /> - � pursuant to such noUce of defau(t and, notwithstanding the contiouance in passession of the Property or the coliection,receipt and j�;�y:,, w
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<br /> � ?� ', appiication of rents, issues or profrts, Tnutee and Lender sfiali be ernftted to exerase every right provided for in eny of the loan �',`�''• ',�' ���'-
<br /> ' " ° Insaiumonts or by taw upon occuaence of as�y Event of Detautt,inctuding without 8mitation the right to exercise the power of saie. � �- �-��.-.
<br /> °� � ';�.�J Furthet,Lender's 6ghta and�emedies under thfis paragmph shail be cumulative with,and in no way a limitation on,Lendei's dghts and � ���'�
<br /> " � `%r' remeQies undet any asaig�meM of Ieases and cents recoMed egainst the Plraperty. Lender,Trustee and the receiver shall be tiable to • --
<br /> • . . accoum onty tor thase tents actuai[y recetved. .. - �T
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<br /> ;�� �. � • 11.Events of Detautt.The foUowing shail constitute an Event of Defautt under this Oeed of Trust: '
<br /> _ �:_3�II�
<br /> • _' (a)Faiiure to pay any tnstal(ment of principal o�interest ot any other sum secured hereby when due: - ..ii°*_�`
<br /> � ``+"�: (b)A breach of or defauft under an —�'— _
<br /> y provision contained In the Note,this Oeed of Trust,any of the Loan Instruments,or any
<br /> -':�.:
<br /> other Iten or encumbrance upon the Property; :_
<br />!f i� -' _ lc)A writ of execution ot attachment or eny aimilar process shatl ba entered against Trustor which shall become a llen on the � t:j�;;-�-
<br /> P�nperty or any portlon the�eof or interest thereim, -
<br /> . ' (d)Thera shall be fitod by or against Trustor or Borrower an acNon under any prasent ar future federal,state or pther statue,taw • .^-'£
<br /> : �� � • - ` � �r ��_� or�egulat(on�etating to banlvuptcy, Insofvency or otAer relief for debtors;ot there shall be appoleted any tru9tee, receiver or - '. �: ��**=
<br /> � Ilquidator of T�ustor or Borrower or o!ail or any part of the Property,ar the rents,issues or profits thereof,or Trustor a► Bonower � :> :
<br /> shall make any generai assignment for the benefit of creditors; �. --�1'�i'-�
<br /> �t•°� !e)The sate,t�ansfer,lease,assignment,wnveyance or tunher encumbrartce of ail or any part of or any tnterest in the Piroperty, � y
<br /> - ' either votunterity or involuntarity,without the express wtitten consent of Lender;provlded that Trustor shall be permitted to execute . '.���
<br />,.'-'' • , . a Iease of the Property that does not wntain an optlon to purchase and the term of which does not exceed one year; � .•,.�—
<br /> (fl Abandonment of tAe Property;or ' . --
<br /> - .�. � �'. ,' ".� (g) If Truator is not an Individual,the issuance, sale,transfer,easignment, conveyance or ancumbrance of more than (H a • _
<br /> = • . corporation)a total of N/A percent of its issued and outatanding stock,or lif a partnership)a total of rr/n percent of ��' _
<br /> '� z�. � � paRnership interests,or a �mited liability company)a total of N�A percent ot the Iimiled Uability company tenT or voiing � __
<br /> • '" rigMs during the period this Dead of Trust remains a lier►on the Roperty. . _
<br /> � 12.Remed�es;Acceteration llpon Defautt.in the event o}any Event of Detauft Lender may,wRhout notice excapt as required by law, ; �
<br /> . � � dectare all indebtedness secured hereby to be due and payable and the same sha0 thereupon become due and payable withouf anyr
<br /> . . � presentment,demand,protest or notice of any kind.7hereafter Lender may:
<br /> ' Ia)Oemand that Trustee exercise the POWER OF SAI.E granted herain, and Trustee shatl tfiereafter cause Ttustor's interest ' .
<br /> • in the Rope�tyt to be sotd and the proceeds to be distributed,ail in the manner provided in the Neb�aska Trust Deeds Act; • .
<br /> � (b)Exercise any and ai1 rights provided for in any of the Loan tnstruments ot by law upon occurrence ot any Event of ,
<br /> ' � � Detauit;and � ..
<br />, ",,', � (c)Commence an action to fotectose thia �eed o} Trust es a moftgage, appolnt a receivet,or speciflcalty entorce any of the
<br /> �•'.. covenantsheceat. . . ; •
<br /> � - IVo ramedy herein conter�ed upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein,in the Lons .
<br /> : j � -� � tnatrumenta ol by iaw provided or permitted,but each ehall tre cumutative,s4a;1 be in addition to every otYer remedy given hereundet,in . .
<br /> . , t the Loan Instruments ar now or hereafter existing at Iaw or in equity or by s2atute,and maY be exercisea concur�enliy,independenily or � ' . •
<br /> . � � successh►ety. � ,� ;
<br /> ��; 13.Tnmteo.The Trustee r.s�r resign at anv time w(thout rz�se,and Lender may at any time and wiihout cause appoint a successor .
<br /> • � or substitute Trustee.Trustee shail not be Ilabte to any party,lnctudtng without limitation Lender,Borrower,Trustor or any purchaser oi ,
<br /> � the Prope►ty, for any loss or damage untess due to reckteas or wiiltul r:tsconduct, and shatl not be requlred to take eny action in ,
<br /> � , , , connecilon with the entorcement of this Deed oi Trust unless indemn)fied,in writing,foi all costs,comper.sation or expenses which may ' •
<br /> be assoclated therewith. In addition,Trustee may become a purchaser at any sale of the Property Qud)cial or under the powet of sale . • ' � '
<br />- . � granted herein);postpone thv sate ot all or any portion of the Property,as providod by law;or sell tha Property as a whote,or in separate
<br /> . � • parcefs or lot9 at Trustee's discretion. � '
<br /> � � 14.Faoa and Expanso9.In the event Truatea seUs the Property by exercise of power of sale,Trustee shall6e entit►ed to appiy any aele ;• .
<br /> � ; proceeda tirat to payment o}ail coats and expenses of exercising power of sate,inctuding ail Trustee's fees,and Lender's and Trustee's � � .
<br /> , . • attorney's tees,actually incurred to extent permitted by appticab(e law.In the event Borrower or Truster exercises any right provlded by � � '
<br /> law to cute an Event o}Oefauit,Lender shalt be entitted to recover from Trusior ail costs and oxpenses actualty incurced as a resuit of
<br /> " � ' ; Trustor's default,incfuding without Iimitation aii Trustee's and aitomay's fees,to the extent permitted by appUcabte law. '
<br /> � . , 15.Future Advancea. Upon request af Borrower,Lender may,at its option,make additional and future advances and readvances to �.
<br />-� �. �� Borrowet.Such advences and readvancos,with interest thereon,shatl be securad by this Qeed of Trust. At no time shall the prineipal •
<br /> ' � amount oi the indebtedness secured by this Deed of Trust, not including sums advanced to protect the security o}this Deed o}7ru9t, � '
<br /> , � exceed the odginal principei amount stated herein,ar 9 sqo.oqo�oo_ _ ,whichever is greater.
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