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<br /> • ` � •Proceeds'1 in oonnectlan with oondemnation or other faking oi the Property or part thereof,or foc conveyance in tieu of condsmnation. � •
<br /> � ` Lender shati be errtitled at its op�on to commenoe,sppear in and prosecate in its own nama any action or proceedings,and shaU also � - , ,
<br /> • • � be entiNed to make any oompromise or settlement in oonnection with such taking or damage.In the event any portion oi the Pmperty is � - � ,
<br /> : so taken or Camaged,Lender shati have the option in its sote and absolute disaetion,to appty all such procesds, aRer deducting , �.
<br /> 9herefrom all oosts and expenses inwrted by it in oonnection with such Proceeds,upon any indebtedness secured herehy and in sach ,
<br /> � order as Lender may determine,or to appry a0 sud�Proceeds,after such dedu�tions,to the restoratIon of the Property upon such aoo- • , ' `
<br /> � , ` � _ d6tions as Lender may determine.Any applicaUon of Proceeds to indebtsdness shail not extend or postpone the due date of any pay- �:�.;�'
<br /> • '-` ments under qie Nofe,or cure any default thareunder or hereur+der.My anapplied tunds shail be paid to Tnutor.
<br /> �. ' 8.Per[ormartce by Lender.Upon the acxurrenoe of an Event of Default hereunder,or if any ad is taken or legal proceeding '� •°
<br /> �.��
<br /> � commenced whtch materialty affeds Lenders interesl in the Property,Lender may in its own discxetion,but without obtigation to do so, -.
<br /> - --;�_:_ and without notioe to or demand upon Trustor and without teleasing 7rusDor from any ob�igation,do arry act which Trustor has agreed -�� • �_ .-.
<br /> : - � but faited tn do and may also da any other act it deems naoessary to pmtect the securiry hereof.Toustor shap,immediatety upon - - -'";
<br /> � � Qemand therefor by Lender,pay to Lender aIl costs and expenses incurred an d sums expen d e d by Len der i n c o n n e c ti o n w ith the exer- � r
<br /> „ •� . � cise by Lender of the foregoing rights,togeiher with interest therean at the default rate provided in the Note,which shall be added W _ ,
<br /> I the indebtedness secured hereby.Lender shall not incur any liabitity because of anything it may do or omit ta do Rereunder. . �~`r
<br /> f 9.44asatdotis NlateHats.TrusDor sfiail keep tfie Property in campliance with all appliqbts laws,ordinances and regutations '�
<br /> .•�, � 3 relatfng to industrial hygiene or emrironmental pratection(coliectively referted to herein as'Environmentat Laws'�.Trustor shall keep ; �•�t..�•.
<br /> _ • � the Properiy fr�ee from a!I subshances deamed to be hazardous or toxic under any Environmental Laws(collecGvely referred tn herein . �.' �
<br /> • as'Hazardous Materials�.YrusWr hereby warrants and represents to Lender that there are no Hazardous Materials on or under the �_
<br /> � � Property.Trustor hereby agrees to indemnify and hotd harmtess Lender,its directnrs,officers,emptoyees and agents,and any sucoes- :,;, , ���`
<br /> � sors 0�Lertders interest,fcom and against any and all daims,damages,tosses and iiabiliUes arising in connection with the presence,
<br /> � use,disposal or transport af any Hazardous Materials on,under,from or about tl�e Property.THE FOREGOING WARRANTIES AND • . r`_'-=___
<br /> - REPRESER1TATtOt�1S.AND TRUSTOR'S OBLIGATIONS PURSUMIT TO THE FOREGOING INDEMNITY.SHALL SURVIVE _ ���'�`�.:
<br /> "" " • ,:;� RECONVEYANCE OF THIS DEED OF TRUST. f �. -�-
<br /> � � 10_Assignme�rt of Rents.Tnistor hereby assigns to tender,and grants Lender a security interest in,aIl present future and ..;;_,�;�
<br /> •:�s�.= � 3,
<br /> -: ' - after arising rents,issues and pmfits of the PropeRy.proviQed that Trustor shatl,unti!the occurtenoe of an EveM of Oefau�,hereunder, • -
<br /> . have the rigbt to collect and retaln such rents,issues and rofiis as the become due and ayabie.U an the occurrence of an Event of '` �
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<br /> - • - Qefault,Lendar may,either in person or by agent,with ot wiffiout bdnging any action or proceetiing,or by a receiver appointed by a ..;,:_,__;.-�.._
<br /> - '. �-'. � oourt and without regard to the adequacy of its security,enter upon and ffike possession of the Praperty,or any part thereof,in its own � <��';:� °�� _,�-.�-
<br /> � rtame or in the name of the Tnistee,and do any acts which ft deems necessary or desirable to preserva the value, marketabitity or . �
<br /> ' � , reniabllity of the Property,or any paR thereof or Interest therein,or to inerease the income therefrom or proted the secudty hereoi and, •, :���`•�y
<br /> ' with or without taking possession of the Properiy,sue for or ofherwise collsct tfie renis,Issues and profits thereot,induding Those past �;�:.,-
<br /> , . due and unpatd,by notifying tenants to make paymenLs to Lender.Lender may eppiy renis,issues and profits,tess costs and eapens- '•;•,. -,�-,°�,•:_°`•.`.:'
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<br /> � � • es of operaUon and collectlon induding attome}fs fees,to any indebtedness secured hereby,atl in such order as L.ender may deter- . �- �,
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<br /> �. . mine.The entering upon and taking possesslon of ihe Property,the colledion of such rents,issues and profits,and the appliption , ,,,�,�,�._
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<br /> • � thereof as aforesaid shall not cura or waive any default or noUce of detault hereunder or invalldate any act done 1n response to such " ;;�..r•,-.•
<br /> -' • � � -":�i defautt or pursuant to such noUce of defautt and, notwithstanding the continuance in possesston of the property ar ffie coltection, . ���;.��rn;
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<br /> � receipt and applipGon of rents,issues or pmfits,Tnistee and Lender shall be entltted W exerdse every�ight provided for in any of the , . ;,�r
<br /> ?� , � . Loan InsWments or by law upon occurrence ot any Event of Oefautt,inctuding without Iimitatton the�ight to exercise the power of sate. ' �� �' -__
<br /> � � Further,Lendet's rights and remedies under thls paragraph shatl be cumutative with,and in no way a IimitaUon on,Lenders rights and :.f' `� �"'N
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<br /> ` - � remedles uader any assignment of leases and rents reoorded against the Property.Lender,Trustee and the receiver shalf 6e liabfe to ..:.,,�,,,
<br /> .�` � , account onty for those rents actually reoe(ved. . °-'�'
<br /> - • `.�'J 1 t.Events o!DefauM.The following shaH constitute an Event o#Detau{t under this Deed of Trusk �'•;y�`=
<br /> ' `�•..� (a�Failure to pay any installment oi pdncipal or interest or eny other sum secur�C hereby when due: , . .
<br /> �:� ��;-::
<br /> � (b)A breach o!or default under any provision contained in the Note,this Deed of Trust,any ot the Loan Instruments,or any _;;.�
<br /> �. other lien or encumbrance upon the Property: `"''�, �f`:�
<br /> .; ': .� ..,
<br /> • � (c)A wrlt of execuUon or attachment or any similar process shatl be entered against Trustor which shal!become a lien on : �� ;,,•;..
<br /> � the Property or any poRlon thereaf or interest therein; � �' �
<br /> � _-_�: - • ..��r�
<br /> r° �• (d)There shall be fited by or against Tnistar or Bonower an actlon under any present or future federat,state or other statute. •� ���-��
<br /> � law or regulatlon refating to bankruptcy,Insotvency or othet reliet for debtors:or there shall be appointed any trustee.receiver or . . ';•,�,-.,.
<br /> Iiquidator of Trustor or Borrower or ol aIl or any paR o1 the Property,or the rents,lssues or pro5ts thereof,or Trustor or Borrower , �..
<br /> . • • shall make any generat assignment for the benefit of creditors; ��
<br /> • (e)The sale,transfer,lease,assignmen�conveyance or fuRher encumbrance oi a�l or any part of or any interest in the , .
<br /> � PiropeRy,eRher voluntarlly or involuntarfly,w(thout the express wr(tten consent of Lender,provlded that Trustar sha0 be permit- ,.
<br /> � ted to execute a lease oi the Property that does not contain an opUon to purchase and the tertn of whtch does aot exceed one •
<br /> . .. year, • .
<br /> ' (�A6andonment of the P�perty;or �.
<br /> • (g)Ii Trustor is not an indIvldual,the issuance.sale.transfer,assignment,conveyance or encumbra�ce o1 more than(H a -; •
<br /> : � � � corporaton)a total of percent ot tts issued and outstanding stock.or(if a partnership)a total of per- . „
<br /> cent oi partnershtp interests,ar pi a timited tiability company)a total of perceni ot the Gmited liability compa- � �
<br /> � ny interests or voting rights dudng the pedod thls Deed ot Trust remains a lien on the property. ' , �
<br /> � 12.Remedies;AcceteraUon Upon Qefaut�In the event o!any Event oi Detautt Lender may,without noUce except as required •• •
<br /> � by law,declare all indebtedness secured hereby to be due and payabte and the same shali thereupon beaome due and payable wittr
<br /> out any presentment,demand,protest or noflce of any kind.Thereafter Lender may:
<br /> �'' (a)Demand that Trustee exerclse the POWER OF SALE granted herein,and Trustee shall thereafter cause Trustors Intet-
<br /> . est in the Properly to be sold and the proceeds to be distributed,atl in the manner provlded in the Nebraska Trust Qeeds Ack
<br /> (b)Exerclse any and aIl rlghts provided tor in any of the Loan InsWmenta or by law upon ocaurence af any Event ot .. .
<br /> Detault;and •
<br /> , (c)Commence an action to torectose this Oeed ot Trust as a mortgage,appoint a receiver,or speaTically entorce any oi the , • .
<br /> � covenants hareot. .� •
<br /> � Pto remedy herein conferred upon or reserved to Trustee or Lender Is intended to be exclusive of any other remedy hereln,in the Loan
<br /> � � InsVuments or by law provided or permitted,bui each shall be cumutaUve,shall be in addition to every other remedy given hereunder.
<br /> . � ln the Loan tnstruments or now or hereafter existing at law or in equily or by statute,and may be exercised concurrentry,lndependentty
<br /> � � or succesively. .
<br /> 13.Trustee.The Trustea may resign at any time wiihout cause,and Lender may at any time and without cause appoint a suo- � . .
<br /> cessor or substitute Trustee.Trustee shall not be liable to any party,including�vlthoul IimitaUon Lender,Borrower,Tnistor or any pur• . .
<br /> . chaser o1 the Property,tor any loss or damage untess due to reckless or willful misconduct,and shall not be required to take any acNon � .. �
<br /> � in connection with the entorcement oi this Oeed ot Trust unless indemnifled,in wriUng.for aIl costs,compensat?on or expenses which
<br /> " may be associated therewith. tn additlon,Trustee may become a purchaser at any sale of the Property(judiciat or under tha power ot �
<br /> sate granted herein);postpone the sale of all or any portton oi the Property,as provided by law;pr sell the Property as a whole,or in , .
<br /> . separate parcels or IoLs at Trustee's dlscredon. I '
<br /> 14.Fees and Expensea.In the event Trustee sells the Property by exercise of power oi sale,Trustee shall be entitled to appty f
<br /> .+�. any sale proceeds first to payment oi all costs and expenses of exercising power oi sale,inGuding alI Trustae's fees,and Lenders and � .
<br /> � � Trustee's atiomey's tees, acivally incurred to extent permitted by appticable law.In the event Borrovrer or Trustor exercises any right � ' •
<br /> . provided by law to cure an Event ot Oefault,Lender shall be entitted to recover from Trustor all cosis and expenses actually incutted as �
<br /> — - a ra:u!!ot Trusfafs deta:ilt,including�ritliout llmRation 2II Tn�stea's and attomeYs tees.to the extent petmitted by apDlicable Iaw. _ _ _
<br /> ' 15.Future Advanees.Upon request oi Borro�ver. Lender may,at its option,make additional and tuture advances and read- � - •
<br /> . vances to Borrower Such advances and readvances,with interest thereon,shall be secured by this Deed oi Trusi.At no time shall the f
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