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<br /> "Proceeds')In connectlon with condemnetlon or other taking of the Property or part thereof,or for conva a ce In Ileu ot con emnation. �"�"`=i•-
<br /> Lender shall be entitled at Its optlon to commence,appear In and prosecute In Ite own name any actlon or proceedings,and shall also �"``�'�''��""'�-
<br /> be ontitled to make any compromise or settlement In cannection with such teklnp or demago.In the event any poi�lon of the Property is i � " '
<br /> �� so teken or damaged, Lendpr shall have the option in Its sole end ebsolut9 dlscretlon, to apply all such procFSeds, after deducting • "�
<br /> � thorefrom all costa and expenses Incurred by it in connectlon with such Praceeds,upon any indebtedness securad hereby and fi�auch . ,
<br /> order as Lender may determine,or to apply eil such Proceeds,after auch deductlons,to the restoratlon of tho Property upon auch con• , .• •�
<br /> , dltions as Lender may determine. Any appllcation ot Proceeds to indebtedness shall not extend or postpone the due date of any pay .
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<br /> ments under the Note,or cure any detault thereunder or hereunder.Any unapplied Iunds shall be pald to Trustor. �::,,�.,�fu.•.
<br /> 8. Performence by Lender. Upon the occurrence of en Event oi Default hereunder,or If any act is taken or legal proceeding �
<br /> • commenced which meterially affecis Lender's�nterest in ltie Property,Lender may in its own discration,but without obligation to do so, ,
<br /> end without notice to or demand upon Trustor and without releasing Trustor from eny obllgetlon,do eny act which Trustor has agreed `e��' � ��
<br /> �`"� but failed to do and may also da any other act It deems necessary to protect the security hereof. Trustor shatl, immedfately upon ;r- ';.,`�;
<br /> '��-r"""�` demand therofor by Lender,pay to Lencfer a11 costs and expenses Incurced and sums expended by Lender in wnnectlon with the exer•
<br /> - cise�by 4ender of the foregoing.rights;together with interest lhereon at the detault rete provided in the Note,which shall be added to --_—
<br /> . the indebtedness secureci hereby.Lender shall not incur eny Ilablllty because of anything it may do or omit to do hereunder. °�~��
<br /> 9. Hazardous Materials. Trustor�hall keep the Property fn complfance with all appllcable laws,ordinances and regulations -_- _� ___
<br /> relating to industdal hygiene or environmental protection(collectively rsierred to herein as`Environmental Laws').Trustor shell keep =--
<br /> the Property free from all substances deemed to be hazardous or toxlc under any Environmental Laws(collecdvely referred to hereln �:
<br /> as"Hazardous Materials").T�ustor hereby warrants and represents to Lender that there are no Hazardous Materfels on or under the �
<br /> Property.Trustor hereby agrees to indemnify and hold hermless Lender,its directors,officers,employees and agents,and any succr�s- ��4`��
<br /> sors to Lender's interest,from and against eny end all de(ms, damages,losses and Ilabiilties arising In connection with the presenae, ��_-
<br /> '� use,d(sposal or Uansport ot any Hazardous Materiais on, under,from or ebout the Property.THE FOREOOING WARF2ANTIES AND
<br /> REPRESENTATIONS, AND TRU3TOR'S OBLIGATIONS PURBUANT TO THE FOREGOING INDENiNiTY, SHALL SURVIVE ---
<br /> � RECONVEYANCE OF THI3 DEED OF TRUST. � - -
<br /> * 10.Assipnmont of Rents.Trustor hereby assigns to Lender,and grants Lender e se�urity interest in,all present,future end ;
<br /> �• after arising rents,Issues and proftts oi the Property;provided thet Trustor shall,untll the occunence of an Event of Default,hereunder, -
<br /> have the right to collect and retaln such rents,Issues and pro�ts as they become due and payable.Upon the occurrence oi an Event af
<br /> 4� qefeuit, Lender may,e(ther in person or by agent,with or wlth4ut bringing any actlon or proceeding,or by a receiver appointed by a �~�
<br /> court and without regard to the adequacy oi Its security,enter upon and take possession of the Property,or any part thereof,in fts own F .
<br /> , • �,� name or in the neme of the Trustee,and do eny acts which it deems necessary or desirable to preserve the velue, marketebiUty or �"_'_
<br /> � rentablllty of the Property,or any pa�t thereof or interest thereln,or to increase the Mcome therefrom or protect the security hereof end, �
<br /> �: with or without taking possession of the Property,sue for or otherwise collect the rents,Issues and proflts thereof.InGud(ng those past -
<br /> due and unpaid, by not(fying tenants to make payments to Lender. Lender may apply renta,Issues and proflts,less costs and expens-
<br /> • '�, es of operation and collectbn Including attorney's fees,to any indebtedness secured hereby,ali in such order as Lender may deter• -
<br /> , ,q mine.The entering upon and taking possessfan oi the Property,the collection of such rents, issues and proftts,and the applicaGon =
<br />_ ___ _d thereof as aforesald sha:l not cure or walve any default or nodce of default heraunder or(nvalldate any act donw In rAC�nnr.a t�a�l�.� -
<br /> • A defauit or pursuant to such notice of default and, notwithstending the cantlnuance in possession of the property or the coilecdon, -
<br /> receipt and application of rents,Issues or profits,Trustee and Lender shall be entiUed to exercise every right provided for in any of the
<br /> � Loan Instruments or by law upon occurrence of eny Event oi Detauit,Including without iimltatlon the right to exercise the powar of eaie.
<br /> Further,Lender's rights and romedles under this paragreph sheli be cumulative with,and In no way a Ilmitation on,LendePs rights end
<br /> remedies under any assignment of leases and rents recorded ageinst the Property.Lender,Trustee and the receiver shall be Ilabie to
<br /> account only for those rents actually recelved.
<br /> 11.Events of Defauit.The following shall constitute an Event of Default under this Deed of Trust:
<br /> : (a)Fallure to pay any insteilment of princlpal or interest or any other sum secured hereby when due;
<br /> (b)A breach of or default under any provislon contalned in the Note,this Deed ot Trust,any oi the Loan Instruments,or any
<br /> other Ilen or encumbrence upon the Property;
<br /> (c)A writ oi execution or attachment or any simllar process shall be entered against Trustor which shall become a Ilen on
<br /> the Property or any portfon thereof or Interest therein;
<br /> (d)There shall be filed by or agalnst Trustor a Borrower an action under any present or future federtal,state or other statute,
<br /> ' law or regulation relating to bankruptcy,insolvency or other rellef for debtors;or there shall be appolnted any trustae,recelver or �
<br /> Iiquldator of Trustor or Barower or of all or any pad of the Property,or the rents,issues or proflts thereof,or Trustor or Borrower -
<br />_ shall make any general assignment for the beneflt of croditors, ��-
<br /> _. (e)The�ale, transfer, lease,assignment, conveyance or further encumbrance of all or any part of or any intorest in the =
<br /> Pmperty, either voluntadly or involunterily,without the express written consent of Lender;provided that Tnastor shell be permit- -
<br /> - ' ted to execute a lease of the Property that does not conteln an option to purchase and the term of which does not exceed one - -
<br /> year, `■ _
<br /> � (�Abandonment of the Property:or �_--
<br /> (g)if Trustor fs not an indlvidual,the fssuance, sala, transfer,assignment, conveyance or encumbrance of more than(if a ;:-
<br /> _ � corporation)a total of percent of Fts Issusd and outstanding stock,or(It a partnership)e totai of per-
<br /> _ cent of partnership Interests,or(if a Ilmited Ilabiliry company)a total of percent of the limfted liebiliry compa• �
<br /> ny interests or voting rights during the period this Deed of Trust r�mains a lien on the property. �
<br /> 12.Remedies;Aeceleratlon Upon Gefauit.In the evenS of any Event ot Default Lender may,without nodce except as requlred _
<br /> j by law,declare ell indebtedness secured hereby to be due and payable and the same shall ti�ereupon become due and payable with-
<br />- � out any presentment,demand,protest or notice of any kind.Thereafter Lender may: ___�_
<br /> (a)Demand thet Trustee exercise the POWER OF SALE granted herein,and Trustee shall thereaftor ceuse Trustors Inter- -'=z,�r__
<br /> est in tho Property to be sold and the proceeds to be dlstrlbuted,all in the manner provided in the Nebraska Trust Deeds Act;
<br /> (b)Exercise any and all rights provided for In any of the Loan Instrumente or by law upon occurcence of eny Event of �
<br /> 1 Default;and '•4:
<br /> I (c)Commence an aclion to foreclose this Deed of Trust as a mortgage,appoint a recerver,or specificaily enforce any of the
<br /> covenants hereof.
<br /> No remedy herein conFerred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein,in the Loan
<br /> � Instruments or by law provided or permftted,but each shall be cumulative,shall be In additlon to every other remedy give�horeunder,
<br /> ., � in the Loan Instruments or now or hereafter existing at law or in equity or by statute,and may be exercised concurcently,independently
<br /> i or succesively.
<br /> � 13.Trustee. The TfuStee mav tesian et anv fimu wlthn�it ra�ica A���o��o�..,o.,o►e,,,,u..,e.,..a...c.�..,..�.. ....�_.__
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<br /> � cessor or substitute Trustee.Trustee shall not be ilable to any party,Inciuding without Ilmltatlon Lender, Borrower,Trustor or any pur•
<br /> � chaser of the Property,for any loss or demage unless due to reckless or willful mfsconduct,and shall not be requlred to take any actlon
<br /> _ I in connection with the enforcement of this Deed af Trusl unless indemniflod,in writing,for all costs,compensation or expenses which
<br /> may be associated therewfth. In addition,Trustee may become a purchaser at any sale of the Property Qudfcial or under the power of
<br /> ' sale granted herofn); postpon�the sale of all or any portion of the Property,as provided by law;or sell the Property as a whole,or in
<br /> � separate parcels or lots at 7rustee's discretlon. ,
<br /> � 14.Foes and Expenses.in the event Trustee seMs the Property by exercise ot power of sale,Trustee shall be entitled to apply
<br /> � any sale proceeds first to payment of all costs and expenses of exercising power of sale,including all Trustoe's fees,and Lender's and
<br /> , Trustee's attorney's fees, actually incurred to extont pnrmitted by applicable law. In the event Borrower or 7rustor exercises any rlght '
<br /> _ provided by Iaw to cure an Evenl of Default.Lender shall be entitled to recover irom Trustor all costs and expenses ar,tually incurrad as I
<br />-- a result of Trustor's default,including without limitation all Trustee's and attorney's fees,to the extent permitted by applicable law.
<br />- � 15.Future Advances. Upon request of Borrower, Lender may, at its optlon, make additfonal and tuture advances and res�d• I
<br />�- ' vances to Borrower. Such advances and readvances,wilh interesl thereon,shali be secured by this Deed�f Trust.At no time shall the
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