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<br /> � �$-:i t�i3'70
<br /> � "Procoeds')in connection with condamnatlon or other taking oi the Property or part theroof,or for convayance in lieu of condomnatfon. �
<br /> i Lender shell be entitled at Its optlon to commence,appear In and prosocute In its own name any ectfon or proceodings,and shall also =
<br /> 1 6e entitled to make any compromise or settlemenl in connoctfon with such taking or dernage.In the evont any portion oi the Proporty is __
<br /> so teken or damagod, Lender shall have the opUon in ds sole and absoluta discretion, to appry ail such proceeds, aiter dQdur,ttng `
<br /> � therefrom eil costs and expenoes incurred by it In connectlon with such Proceeds,upon any indebtedness secured hereby and in such _ __
<br /> I order as Lender may dAtermine,or to appiy ell such Procoeds,after such daductions,to the restoration of lhe Proporty upon such con- �—
<br /> ditfons as Lendar may determine.Any applicat:on of Proceeds to indebtedness shall not oxtend or postpone the due date of any pay-
<br /> . � ments under the Note,or cure any default thereunder or hereunder.Any unapplied funds shall bo paid to Trustor _ _-
<br /> 8. PeKormance by Lender. Upon the occurrence of an Event oi Defeult hereunder,or if any act is taken ar legal proceoding
<br /> commancod which matorlalfy aNects Ler.dor's intorost In the Properly.Lender may�n its�wn di:�cret�on, but without obiipation to do so,
<br /> and wlthout notice to or demand upon Trusta and wfthout releasing Truetor irom any obligation,do any act which Trustor has agread
<br /> but faited to do and may also do any other act it deems necessary to protect the security hereof.Trustor shall, immediately upon +-
<br /> demand therefor by I_ender,pay to LendAr all costs and expenses incurred and sums expended by Lender in connection with the exer- .
<br /> cise by Lender of the foregoing rights,together with interest thereon at the default rate provided in the Note,wh�ch shall be added to .
<br /> the Indebtedness secured hereby.Lender shall not incur any Iiability because of anything it may do or omit to do hereunder. _
<br /> 9. Hazardous Materlals. Trustor shall keep the Property in compliance wlth all appUcable laws,ordmances and regulations .;;:�i
<br /> relotlng to Industrial hygiene or environmenlal protection(collectively reforrod to horein as"Environmental taws") Trustor shail keap ;•`�. _
<br /> the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein ��,►��-'
<br /> as'Hazardous Materials"). Trustor hereby werrants and represents to Lender tnat there are no Hazardous Materials on or under the _
<br /> Property.Trustor hereby agrees to indemnify and hold harmless Lender,Its directors,officers,empioyees and agents,and any succes-
<br /> sors to Lender's interost,from and against any and all clalms,damages,losses end ifabilitles arising in connection with the presence,
<br /> use,disposai or transport of any Hazardous Materials on,under,from or about the Property.THE FORE�OING WARRANTIES AND , `'"�'= °"s
<br /> REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FAREGOING INDEMNITY, SHALL SURVIVE
<br /> RECONVEYANCE OF THIS DEED OF TRUST.
<br /> 10.Asaignment ot Rents.Trustor hereby assigns to LendAr, and grents Lendor a securiry interest in,all present,future and
<br /> after ansing rents,issues and proflts of the Properly;provided that Trustor shall,until the occurrence of an Event of Default,hereunder,
<br /> have the right to collect and retaln such rents,issues and proflts as they become due and payable.Upon lhe occurrence of an Event oi �
<br /> 4efault,Lender may,either in person or by agent,with or without bringing any action or proceeding,or by a receiver appointed by a
<br /> court and wlthout regard to the adequacy oi its securlty,enter upon and take possesslon of the Property,a any part thereof,In its own ••
<br /> • name or in the name of the Trustae, and do any acts whlch it deems necessary or deslrable to preserve the value, marketability or
<br /> � rentablllty of the Property,or any part thereof or interest thereln,or to increase the income therefrom or protect the security hereof and,
<br /> with or without taking possesslon of the Property,sue for or othervvlse collect the rents,issues and profits thereof,including those past
<br /> due and unpald,by notifying tenants to make payments to Lender.Lender may apply rents,Issues and protits,less costs and expens-
<br /> es of operatlon and collectlon Including attomey's fees,to any Indobtedness secured hereby, all In such order as Lander may deter- ,;
<br /> mine. Tha entering upon and taking pussessfon of the Property, the collectlon of such rents. Issues and profits, and the appllcation
<br /> thereof as aforesaid shall nat cure or wafve any default or notice of default hereunder or Invalidate any act done in response to such •r .
<br /> default or pursuant to such notice of tletault ana, notwithstanding the coniinuancn iri poosvssi�n of tFa prapctty ar thc co!lectlon, --�---�- .-
<br /> receipt and appllcatlon of rents,issues or profits,Trustee and Lender shall be entitled to exercfse every dght provlded for in any of the � �,:. ;a i,�.
<br /> Loan Instruments or by Iaw upon occurrence of any Event of Default,including wlthout Ilmltatlon the right to exercise the power of sale. � � �
<br /> Further,Lenders rights and remedles under thls paragraph shall be cumulative wlth,and In no way a Iimltatfon on,Lender's rights and '; ,
<br /> remedles under any assfgnment of leases and rents recorded agalnst the Property.Lander,Trustee and the receiver shall be liable to {;� �s�
<br /> ! account only for those rents actually received.
<br /> 11.Events of Default.The follow(ng shall constitute an Event of Default under thls Deed of Trust: �-
<br /> • (a)Fallure to pay eny Installment of princlpal or interest or any other sum secured horeby when due; „-„�
<br /> (b)A breach of or default under eny provlsion contalned in the Note,thls Deed of Trust,any oi lhe Loan Instrurnents,or any
<br /> other Ilen or encumbrance upon the property; __--'���--
<br /> (c)A writ of executlon or attachment or any simflar process shall be entered against Trustor whlch shall becorne a Ilen on
<br /> the Property or any portlon thereof or Interest thereln; s'�"
<br /> � filed b or a ainst Trustor or Borrower an ectlon under any present or future federal,state or other statute, ��:���
<br /> (d)There shall be y g �
<br /> law or regulation reletfng to bankruptcy, Inaolvency or other rellef for debtors;or there shall be eppolnted any trustee,recelver or =���
<br /> Ilquldator of Trustor or Borrower or of all or any part of the Property,or the rents,Issues or protlts thereof,or Trustor or Borrower �
<br /> :'�-,:,.
<br /> shall make any general asslgnment for the beneflt of creditors; -�.;�,_-
<br /> . (e) The sale,transier, lease, asslgnment,conveyance or further encumbrance of all or any part of or any interest ln the .;,�;�.__
<br /> Property,efther voluntarlly or Involunterily,wlthout the express wrltten r,onsent of Lender,provided that Trustor shall be permlt- �;�,;
<br /> ` ted to execute a lease of the Property that does not contaln an optlon to purchase and the term of whlch does not exceed one �•��"'"'
<br /> . ���.
<br /> year, -_---
<br />_ (f�Abandonment oi the Property;or =- T
<br />_ (g) N Trustor Is not an Indivldual,the issuance,sale,transter,asslgnment,conveyance or encumbrance of more than(if a '-'"`a'°'y""'� -
<br /> corporatlon)a total of percent of Its Issued end outstanding stock,or(if a partne�shlp)a total of per• ',_�;�, "����.
<br /> cent of partnorshlp interests,or(If a Iimlted Iiabllity company)a total ofi percent of the Ilmited Ilabillty compa- ,
<br /> ny Interests or voting rights during the perlod this Deed of Trust remalns a lien on the property. 'i''
<br />= 12.Remedlea;Acceteratlon Upon Default.In the svent of any Event of Default Lender may,wlthout notice except as requlred �
<br /> - by law,declare aIl Indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable wlth-
<br />- out any presentment,demand,protost or notice of any klnd.Thereafter Lender may:
<br /> (a)Demand that Trustee exerclse the POWER OF SALE granted horein,and Trustee shall thereafter cause Tnistor's Inter-
<br /> • est In the Property to be sold and the proceeds to be dlstrlbuted,ail In the manner provided fn the Nebraska Trust Deeds Act;
<br />- (b) Exercfse any and all rights provlded for fn any of the Loan Instruments or by law upon occuRence of any Event oi
<br /> ' Default;and
<br /> (c)Commence an action to foreclose this Deed of Trust as a mortgage,appoint a receiver,or speci8cally eniorce any of the
<br /> � covenants hereoi.
<br /> No remedy herefn conforred 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 permitted,but each shall be cumulative,shall be In add(HOn to every other remedy given hereunder.
<br /> in the Loan Instruments or now or hereafter exlsting at lew or In equlty or by statute,and may be exercised concurrently,Independently
<br /> or succesively. I
<br /> . 13.Truatee.The Trustee may resign at any time without cause,and Lender may at any time and without cause appoint a suc• � .
<br /> cessor or substltute Trustee.Trustee shall not be Ilable to any party, incwatng wnnout umicauon�ender,oorrowtl�,��u5io�o�ai�ji yui" �
<br /> chaser of the Property,for any lo�s or damage unless due to reckless or willful misconduct,and shall not be required to take any action :
<br /> in connectfon with the enforcement oi this Deed of Trust unless indemnified, in wriling,for all costs,compensation or expenses which �
<br /> may be associated therewith.In addition,Trustee may become a purchaser at any sale of thy Property(judicial or under the power of �
<br /> sale granted heroin); postpone the sale o(all or any portion of the Ptoperty, as provlded by law;or sell Ihe Property as a whole,or in
<br /> separate parcels or lots at Tn�stee's discreuon. �
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<br /> - 14.Feos and Expensos.In the ovent Trustee sells the Property by exercise oi power ol sale, Trustee shall be entitled to apply
<br /> any sole proceeds first to payment oi all costs and expenses of exercising power of sale,including all Tnistee's fees,and Lender's and !
<br />= Tn:stee's attorney's fees, actually incurrod to eztent permitted by applicable law. In the event Borrowor or Trustor exercises any right i
<br />= provided by law to cure an Event ot Defaull.LQr.dar shall be entltlod to recover trom Trustor alI costs and expenses actually incurred as �
<br />� a rasult of Trustor's dofault,includ�ny wdhout limitation all Truslee's and attornqy's fees,to tho extent permrtted by applicable law. ;
<br /> 15 Future Advancos. Upon reyueat o(Dorrower, Lender may, at its option, make additional and (uluro advances and read- ,
<br /> vancos to Borrower Such advancos and readvancos,w�th�ntorest tfiereon,shail be securod by this Deed of Trust.At no tima shall the ,
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