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<br /> '` �� `` ` - � � �proceeds�in connectlon with condemnation ar othar taking of the Property or part thereoi,or for conveyance in lieu of oortdemnation. i , , •
<br /> i Lender st�atl be entitled at its cption to ccmmenoe,appear in and prosecute tn its awn name any action or pmceedtngs,and shall etso
<br /> - pa ent�ed in make any oompromise or setttament irt oonnec6on wHh such taking or damage.In the event any portion of the Property is � .
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<br /> `�t ` . so taken or damage4�der sha11 have the opUon in its snte and absolute discxebon,to appfy►all such proceeds. afEer deducdng :,
<br /> � • ° •� therefrom aU�and expenses incurred by it in connec�an with such Proceeds.upon any indebtedness secured hereby and in suct�
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<br /> ' otder as Lender may determine,ar to appty ali such Proceeds,after such deductions,to the restoration af the P�apeRy upon such mn-
<br /> � ditions as Lender may determine.My applicatton of Prooeeds to(ndebtedness sha11 not excend or postpone the due date of any pay- :��--
<br /> ' m8ms urtder the Nate,or aue any defauli thereunder or hereunder.Any unappiied funds shall be paid to Trustor• ,
<br /> _ _ 8.Perfomtance by 4ender.Upon the occurrence af an Event of Defautt iter�eunder,or if any act is taken or legai proceeding �
<br /> ' cpmmenced which matedal�y affects LenQera interest In the PropeRy.Lender may in its own disaeUon.but witMOUt obiigation ta do so. :. t.� • ". .;y
<br /> � ' ' �� and without notice to or demand upon Trustor and without releas(ng Trustor from any obligation,do any act which Trustor has agreed F
<br /> '.�..�°����� but faited to do and may also do any othe►act it deems necessary to protect the secudry hereof.Trustor shatl,immediatefy upon
<br /> � `�"���� � demand therefor by Lender,pay to Lender all aosis and e�cpenses inc�rre�!and sums expended by lender in wnnedinn with the exer- ��'--
<br /> _ _.�:'`` • { �. ase by Lender of the foregoing rights.together with interest th�ecn at the defautt rate provided in the Note.which shali be added to .��, '
<br /> " the irtdebtedness secuced hereby.Lender shall not incur any liability 6ecause of anything it may do or omit to do hereunder.
<br /> � - . 9.Harardous MaLeriata Trustcr shaii keep the Properiy in compliance with all apptipbte taws, or�inances and regulations •
<br /> -� ` ��; .,' `"�. mlating to indw�hiat hyg'iene or environmenfai proUection(coilectivety referred to herein as'Environmentai Laws7.Tnistor shall keep : _,' .
<br /> - the PmpeRy fres from ail substances deemed to be hazardous or toxic under any Envirunmental Laws(oollec6Valy teferred to herem . ' `': �
<br /> '<_ < : - as'Harardous Materials�.Trusmr hereby warrants ans1 represeMs to LerMer that there are no Hazardous Materia(s on or under the .. `;
<br /> , .",.' Property.TnisWr hereby agrees tu indemnifyr and hotd harmless Lender,its directors.offioers,emplayees and agenis,and arry succes- �.-:�.�`':<,
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<br /> ' � sors to Lendefs interest,from and against any and aIl daims.damages,losses and Gabifities arising in connection with tfie presence. '� •:�: �__
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<br /> '` use,disposal or transport of arry Hazardous�dateriais on,under,from or about the Property.THE FOREGOING WARRANTIES AND . ___
<br /> • ' ` REPRESENTAttONS,AND TRUSTOR'S OBUGATIONS PURSUANT TO THE FORECaO1NG INDEMNITY, SHALL SURVIVE ,� - . _ _�;.,�,
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<br /> z� • , . RECONVEYANCE OF THIS DEED OF TRUST. � ..
<br /> , , 10.Assfgnment ot Rents.Tnrstor hereby assigns to Lender,artd grants Lender a security interest in,atl preserlt,futvre and ",
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<br /> �,� �� � after a[ising renLs,issues and prafits of the Propertyr provided that Tn�stnr shall,un4i1 the accaRence of an Event of Oefault,hereunder. �..,.—_
<br /> i ... �, .�,.'t'• have the right tn callect and retain such renTS,issues and profifs as they become due and payable.Upon the accumence of an Event of �;.;,i;r�� _
<br /> � Oefauit,Lender may,either in person or by agent,with or without bringing any action or proceeding,or by a recetver appoi�ted by a • "r_'��"
<br /> � ` ' ' court and without regard to the adequacy of its securiry.enter upon and take possession ot the Propariy,or any part theieo�in its cwn __
<br /> name or in the name of thE Trustee,and do any acts which it deems necessary or desirable to preserve the vatue.markelab3iiry or i-�-:
<br /> ` � � rentability of tha Property,or any part thereoi or interest thersin,or to increase tl�e income therefrom or protect the security heneof and, . ;;���� :
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<br /> with or without taking possession ot the Property,sue fir or otherwisa colled the ren�,issuss and profrts thereof,induding those past ,��
<br /> • due and unpaid,by no�fying tenants to make payments W Lender.Lender may appty renis,issues and profits,less wsts and expens- r r;�w:;:
<br /> -z�,......�_._ ..... �of operation and caltecdon indud"mg altomey�s fees,to sny indebtedness secured hereby.all ln such order as Lender may dete� �,._�`. '•'�x�:�
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<br />.�'s'%.. ` mine.The entering upon and taidng possession of the Property,tl'ie ooltecGon of such rents,issues artd profits,and the appticatian �-
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<br /> . • thereof as aforesa+d shall noi cure or wa&e any default ar notice of default hereunder or invalidate any act done in respanse to such " � 3:�_ _
<br /> default or pursuant to such notice of default ar�d,notwithstanding the cunUnuance in possession of the properiy or the cotledion, �� •��
<br /> •".,�� ' � receipt and appUqtion of rents,issues or profits.Tn�stee and Lender shap be en�tted to exeroise every rlght provided for in any ot the �
<br /> � �' � � � '"''� Loan Instruments ar by taw upon occurrence of any Event of Defauti.induding without limita�on the dght to exercise the power of sate. : �i��
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<br /> • Further,Lendets dghts and remedies under this paragraph shaU be cumulaUve with,and in no way a limitation on,Lende�s rights and z,�_
<br /> " z� �' remedies under any assignment of teases and renis recorded against the PropeRy.Lender,Trustea and the receiver shall be liable W �� �='
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<br /> � account only for those rents actuaHy received. "u -
<br /> ; �,. 11.Events ot OefautL The follawing shai{constitute an Event of Oefau{t under this Oeed of Trust . ,,y;
<br /> " .-:- --. --- (a)Faiture to pay any installmentof pdncipal or interest or any other sum secured hereby when due;
<br /> _- � . , � (b)A breach ot or defauit under any provislon contatned in the Note,this Oeed of Tast,any cf the Loan tnstruments,or any . '�,`,'�.
<br /> � � ott�er tien or encumbrance upon the Property: '� f�:"
<br /> �� � (c)A writ of execution or attachment or any similar process shali Oe entered against Trustor whidf shall become a Uen on � ' . �
<br /> the Properiy or any poAion thereoi a interest therein; '•• i°-��`-
<br /> ' • . (d�There shail be fi►ed by or against Trustor or Bomower an ac[ion under any present orTuture federal,state or other staWte. •."��=`
<br /> � law or regulaUon refaUng to bankruptcy,insolvency or other reliaf for debtors;or there sha116e appointed any trustee,recelver or ., _..:�-�
<br /> � . , � •. Ilquidator oi Trostor or Borrower or ot all or any paR of the Property,or the renb,issues or profits thereof.or Tn�star or Borrower _ ;;�;
<br />:� � � • � shall make aay general assignment for the benefit ot creditors:
<br />-= ' '" (e)The sale,transfer,lease, assignment,conveyance or further encumbrance of ail or any part of or any interest in the � "�_ '
<br />��'�'� �� � Property,either votuntarily or involuntarily,without the express written consent of Lender,provided that Trustor shall be pe�rnit . ,.
<br /> 5, '� ted to execute a lease of the Property that daes not conhain an optlon W purchase and the tertn ot which doea not excee4 one - ,
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<br /> , . (�Abandonment of the Property;or . , � �`"-
<br /> .� (g)If Trustor is not an individual,the issuance,sate,transfer,assignment,ccnvayance or encumbrance oi more than(if a .
<br /> � � corporaUon)a total oi percent of its issued and outstanding stock,or(if a partnership)a total of per- .� .
<br /> . ' � cent ot partnership interests,or(if a Qmited Ilabiliry company)a total oi percent oi the limited tiability compa- ._��•. , .
<br /> � ny Interests or voting rights dudng the pedod t�is Deed of Trust remains a Uen an the property. .
<br /> � � •• 12.Remedies;Aceeteratlon Upon De9autt In the event of any Event oi Defautt Lender may,without noUce except as requ ire d :,,,� . . ,
<br /> . . by law,declare ail indebtedness secured hereby w be due and payable and the same shall thereupon become due aad paya6la with- � .
<br /> _ out any presenUnent,demand,protest or noUce ot any kind.Thereafter Lender may: ,.. •
<br /> , (a)Demand that Trustee exercise the POWER OF SALE granted hereln,and Trustee ahatl thereafter cause Trustor's inter-
<br /> � � est in the Property to be sotfl and the proceeds to be distrlbufed,all in the manner provided in the Nebraska Trust Deeds Act;
<br /> _ ' • . (b)Exercise any and all rights provided tor in any of the Loan Instruments or by law upon occurrence ot any Even!01 . .
<br /> Oetautt;and
<br /> p:,,;. (c)Commence an action to foredose this Deed of Trust as a mortgage,appoint a receiver,or spedftcaity enforce any of the
<br /> � covenants hereof. , .
<br /> � ''�� � No remedy herein confsrred upon or reserved to Trustoe or Lender is Intended to be exdusive oi any other remedy herein,in the Loan .
<br /> '�' ' ' InsWments or by law provided or permitte0,but each shall be cumulative,shall be in addiUon to every olher remedy glven hereunder, . _
<br /> - � • � � in the loan InstrumenLs or nov�or hereafter exisUng at law or in equiry or by statute,and may be exerdsed concurrentty,independenUy _ .-_
<br /> : • or succesivety. � :
<br /> � ' 13.T►ustee.The Trustee may resign at any time without cause,and Lender may at any Umo and without cause appoint a sua ,
<br /> �.ry.t cessor or substitute Trustee.Truste9 shail not be liabfe to any party,Inctuding without IimitaUon Lender.Borrower.Trustor or any pur-
<br /> .. �, � � chaser ot the Property,for any toss or damage uniess due to recktess or wiliful misconduct,a�d shail not be required to take any action •
<br /> ,;,'.`� • . � � in connection with the enforcement of this Deed ot Tn�st untess indemnifled,in wdtlng,tor all costs,compensation or expenses which �
<br /> may be associated therewi.h.In addition,Trustee may become a purchaser at any sate oi the Property Qudiclal or under the power of
<br /> sale granted herein):postpone the sale oi aii or any portion ot the Properry,as provlded by law;or sell the PropeAyr as a whole,or in
<br /> ��..%' . � separate parcels or lots at Trustee's discretlon.
<br />: i. . 14.Fees and Expenses.ln the event Trustee selis the Propertyr by exercise of power oi sale,Trostee shall be enUUed to appty .
<br /> '���' . � any saie proceeds first to payment of al!costs and expenses o}exercising power o}sale,induding aU Trustee's fees,and Lender's and
<br /> � • Trustee's attomey's tees, actually incurted to extent permitted by appiicabte law.In the event Borrower or Trusfor exercises any right
<br /> '"?` ` • provided by law to cure an Event of Defauit,LenBer si�aii be nnliUed to reraver from Trustor afl c�ts anc!expenses actuai{y incurteA as
<br /> � a resutt of Trustor's default,inciuding without limitation ail Trustee's and attomey's fees,to the extent permitted by applicable law. � .
<br /> � 15.Future Advances.Upon request ot Borrower.Lender may,at its option,make additional and future advances and read- � ,
<br /> . .: '� � vances to Bonower.Such advances antf reativances,with interest thereon,si�aii be secured by ihis Daed d Tcu.st.!:!na llme sha!!!he � - :-.
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