|
,�x , �
<br /> „..;.a��e „ �
<br /> "y�' �� �, '
<br /> ,..,�.,.. , - �� . . , .
<br /> ...
<br /> . ,,, . ., � . .
<br /> .. .... . . . . ... ' �ti =
<br /> . • ...:�,,R:.�,�
<br /> ��;— �a��� . .: .�:,_,:..
<br /> "Proceeda')1n connectlon with condemnation or other teking of the Property or paR thereof,or lor canvi ce in eu o n e nation.
<br /> Lender shall bo ontltlnd at its optlon to commenco,appear in and prosecute In Its own name any acAon or procoedings,end ahall also _
<br /> � be endtled to meke any compromise or settlement in connection wfth such takin�or damago. In Ihe event any portion of Ihn Property is , �-
<br /> , I so takon or damagod. Lendor shal! heve tho optfon In Its sole and absolute dlscretlon, to apply all such proceeds, afler deducting
<br /> thorolrom ell cosis and axponses Incurred by It In connection wlth such Proceeds,upon any indebtednoss secured hereby and in such
<br /> ordar as Lendor may dotermine,or to apply all such Procoeds,aftAr such deductlons,to tho restoratfon of the Properly upon such con- ,£
<br /> dltlans os Lendor may determine.Any appllcatlon of Proceeds lo indebtedness shall not extend or postpone tha due dale oi any pay-
<br /> . l monts under tho Noto,or cure any default thereunder or hareunder.Any unapplled tunds shall be peid to Trustor. , 1, _�-_
<br /> Q. Porformance hy Lender. Upon the occurrence oi an Evenl of Defaull hereunder, or if any act fs teken or Isgal proceeding r
<br /> commencod whlch materlalty aHects Lender's interest In the Properry,Lender may In its ovm d�scretion,but witliout obtigalion lo do so.
<br /> and wlthout notico to or demand upon Trustor and without retoesing Tnistor from any obligation, da any act whtr,h Trusbr has agreed _ `�
<br /> " "�,� ,, but felled to do and may aiso do any other act It deems necessary to protect the security hereoi. Trustor shail,immediately upon �� _
<br /> demand therefor by lender,pey to Lender all costs end expenses incurred and sums expended by Lender in connectlonwith the exor- .:•s.,.v.•,:.'. ,"�
<br /> cisa by Lender oi the foregoing rights,together with interest thereon a t t he da tau i t r a t e p r o v i d e d i n t h e N o t e,w hi ch shal be added to Y.�`�*;,,;� i'�..�
<br /> the indebtedness secured hereby.Londer shall not incur any IlebUfty because of anything It may do or omit to do hereunder. .;;,*s.��::_
<br /> , � 9.Hbzerdoue Materials.Trustor shali keep the Property in compUance with all appllcable laws, ordinances and reguletions .-,_-,,r,,..----.-�
<br /> . relating to Industrial hyglene or environmental protectlon (coliectively referred to herein as "Environmental Laws").Truslor shali keep ^�;;y`��_
<br /> i the Property(ree from aY substances deemed to be hazerdous or toxic undor any Environmental Laws(collectively retened to hereln :,�°_
<br /> F as"Hazordous Meteriais). Trustor hereby warrants and represents tu Lender that there are no Hazardous Materlals an or undbr the ";-`._—
<br /> Property.Trustor hereby agrees to Indemnify and hold harmless Lender,its directors,officers,employeos and agents, and any succes- ...
<br /> � sors to Lenders interest,from and agalnst any and ail ciaims,darnages,losses end ifabllities arising in connection withihe presence, ;�,;.,._;_
<br /> use,disposal or transpoR of any Hazardous Materiels on,under, from or about the Property.THE FORE(301NG WARRANTIES AND :',;;.���-.
<br /> t R�PRESENTATIONS,AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY,SHALL SURVIVE �'?'�'�-
<br /> '�':�
<br /> � RECANVEYANCE OF THIS DEED OF TRUST. '-''•
<br /> 10.Assipnment of R�nts.Trustor hereby assigns ta Lender, and grants Lender e security interest in, all present,future and , ir�
<br /> ��.�T��.
<br /> after arising rents,Issues and proflts of the PropeAy;provided that Trustor shall,untii the occurrence of an Event ot Detault,hereunder, �.,:6,,;r.
<br /> { � have the tlght to collect end retaln such rents,Issues and proflts as Ihey become due and payable.Upon the occurrenceof an tvont of ._.;.,
<br /> y qefeuit,Lender may, elther In person o� by agent,wlth or without bringing any action or proceeding,or by a receiver eppolnted by a R��;,
<br /> court and without regard to the adequacy of its security,entor upon and teke possession of the Property,or any paA thereof,in its own ,...p.,�,.,
<br /> ' ' name or In the name ot the Trustee,and da any acts which It deems necessary or desirable to preserve the value.marlcetabilily or ��`�=�"
<br /> ,•%r.:$.�-
<br /> �; rentability ot the Property, or any part thareoi or interest therein,or to Increase the Income therefrom or protoct the secmily hereof and, ��:_
<br /> :(�Ar�t. r`-
<br /> with or wilhout teking possesslon of the Property,sue for or otherwise coYect the rents,Issues and proflta thereof,Including those past `r{ ::
<br /> due and unpald,by notl y ing tenan ts to ma k e p a y m e n t s t o L e n d e r.L e n d e r me y a p pi y rents,Issues and profita,less costs and expens- ,��;;,
<br /> � � es of operation end caYection Including pttomey's fees,to any indebtedness secured hereby,ail in such order as Lender may deter- .��a ;�-
<br /> mine. The entering upon and taking possession of the Property, ihe collection of auch rents, (ssues end profits,end Ihe applicaUon ���+�,
<br /> - thereot es aforeseid shaii not c:urv ui v�aiYa any dafauft or ncUce e!�sfauli h?rw�lnr�Pr or►nvelidate any act done In response to such
<br /> default or pursuant to such notice oi defeult and, notwithstanding the contlnuance in posaession of the properry arthe coliectlon, —_ _�—
<br /> recelpt end application of rents,issues or profits,Trustee and Lender sheil be entitied to exercise every right provlded kr in any oi the �:
<br /> Loan Instruments or by law upon occurrence of any Event ot Defa�t,including w(thout Iimitatlon the�ight to exercise the power ot sale. ��,
<br /> j,. Further,Lender's rights end remedies under this paragraph shatl be cumulativA with,and in no way a Ilmitadon on,Lender's rights and T.
<br /> remedios under any asslgnment of leases end rents recorded egainst the Property.Lendor,Trustee and the recelver shall be liable to -
<br /> account only for those rents actualty received. �,��
<br /> a 11.Evsnts of O�fauit.The tollowing shall constltute an Event of Default under this deed of Trust: �
<br /> • � (a)Failure to pay any Instailment of principal or Interest or eny other sum secured hereby when due; r'
<br /> 'r�• (b)A breach of or defeult under any provislon contained in the Note,th(s Deed of Trust,eny ot the Loan Inslmments,or eny _
<br /> � • other ifen or encumbrance upon the Property; —
<br /> -• . (c)A writ of execution or attachment or any similar process shail be entered agalnst Trustor which shell betome a Ilen on
<br /> ' �, the Property or any portion thereof or interest thereln;
<br /> ' (d)Thore shell be filed by or agatnst Trustor or Borrower en actfon undor a�y present or future tederel,siate a other st�tute,
<br /> ` law or regulation relating to bankruptcy,Insolvency or olher relief for debtors;or there ahall be appolnted eny truslae,receiver or
<br /> � Ilquidator of Trustor or Borrower or ai al�or any part ot the Properly,or the rents,Issues or profits thereof,or Truslo�or Borrower - '
<br /> � � shall make any general assignment tor the beneflt of creditors; '
<br /> (e)The sale, trensfer, lease,assignment, conveyence or further encumbrance of all or any paR ot a any interest in the
<br /> � Property,eilhervoluntarlly or Involunterily,without the express written consent of Lender;provided thet Trustorshall be permit- _
<br /> � x ted to execute a tease of the Property that does not contaln en option to purchase end the term of which doesnot exceed�ne �__�=�F
<br /> � i year, --
<br /> ,s � (�Abandorment of the Property;or --
<br /> (g)If Trustor is not en individual,the issuance, sale, Uansfer,asslgnment,conveyance or encumbrance o(more than(if a
<br /> • ; corporation)a rotal of percent of its Issued and outstanding stock,or(if e partnershlp)a total oi per- �'a'
<br /> cent of partnership Interests,or(if a Iimited Ilability company)a lote�oi percent of the Ilmited ifabllity compa• . �
<br /> ny interests or voting rights during the period this Deed of Trust remafns a Iien on the property. . '�
<br /> 12.Remvdles;Aeceleration Upon Default.In the event ot any Event of Defauit Lender may,without notice except as required jr �K,3.�.�'ti°..::-,
<br /> by law,deGare all Indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable wlth• �� ;�• �;�
<br /> out any presentment,demend,protest or notico oi eny kind.Thereafter Lender may: �•-:;.�:_���=.:'�
<br /> (a)Demand that Trustee exercise the POWER OF SALE granted hereln, and Trustea shall thereafter cause Trustor's Inter- �,;,, ,'�`
<br /> est In the Property to be sold and the proceeds to be distributed,all In the manner provided in the Nebraska Trust Deeds Act;
<br /> (b) Exeraise any and all rights provlded tor in any o(the Loan Instruments or by iaw upon occurrence of any Event of
<br /> � Default;and � �
<br /> (c)Commence an action to foreclose this Deed of Trust as a mortgage,appoint a receiver,or speciflcally entc�rce any of the
<br /> covenents hereoi.
<br /> No remedy heretn con(erred upon or reserved to Trustee or Lender is intended to be exclusive oi any other remedy herein,in the Loan � ,
<br /> Instruments or by law provided or permitted,but each shall be cumulative,shail be in addltlon to every other remedy given hereur.der,
<br /> i in the Loan InstrumeMs or now or hereafter existing at law or in aquity or by statute, and may be exercised concurren6y, independently
<br /> or succesivelY. ..a...:,ti,..,�,. .v.ninf n c�u�_
<br /> .� .. ._.__ __.. _.__...:._....
<br /> � 13.Trustee.The Trustee may resign at any nme wnnouccause,ena�tnwo� niay a�a�ry u���o o��....�..........%'�•"•° .°•rr-••••---- - '----"-'— -
<br /> � cessor or substitute Trustee.Trustee shali not be Ilable to any party,including without limltation Lendor,Borrower, Tmstor or eny pur-
<br /> chaser of the Property,for any loss or damage unless due to reckless a wfllfui misconduct,and shail not be requlred to take any action
<br /> � in connectlon with the enforcement of this Deed of Trust unless indemnifiRd,in writing,for all costs,compensation a expenses which
<br /> may be associated therowith.In addition.Trustee may become a purchaser at any sale of Ihe Property Qudicial or uMQr the power ot
<br /> sale granted heroin);postpone the sale of all or any portlon of the Property,as provided by law;or sell the Propertyas a whole,or In
<br /> ' separate parcels or iols at Trustee's discretlon. I
<br /> 14.Fees and Expenses.In the event Trustee selis lhe Property by exercise of power oi saie,Trustee shall be entilled to apply
<br /> any salv proceeds first to payment oi all costs and expenses of exercis�ng power of sale, including all Trustee's(ees,and Lender's and
<br /> Trustee's attorney's(ees, actually incurred to extent permitted by applicable law.In ihe event Borrower or Truslor exercises any right .
<br /> provided by law to cure an Event o(Default.Lender shall bo entilled to recover from Trustor all costs and expenses adually incurred as !
<br /> i a result of Trustor's default,including without Ifmitatfon all Trustee's and attomey's fees,to Ihe exlent permitled by appYcable Iaw. I
<br /> 15. FuturQ Advances. Upon reyuest ot Burrower,Lender may, at its option,make additional and future advances and read- I
<br /> vances ta Borrower.Such advances and readvances,with interest thereon,shall be secured by lhis Deed of Trust. Alno lirtie shall the
<br />
|