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<br /> f • - 'Proceeds7 in oonnecdon w�th wndemnation or other taking of the Pro�eriy or part thereof,or tor oonvefartce eu o con emnaUon. •4 _
<br /> � Cender shall be entiUed at its optiort to cortEmence,appear in and prosecute in its own name any action or pmceedings,and shall atso '� '`` '`�
<br /> � • � ' ba entiUed to make any ccmpromise or setttement in ccrtr,ection with such tatdng or damage.In tha event any po�tion of the PmpeRy is . �'� '
<br /> ' • r : � so taken or damaged,Lendsr shall have the aptlon in its sote and absotute disae�on,to appiy all sud��pmoesds, aRer deduding ',`�. G` �''�
<br /> ` ' - . therefrom ail oosts and expenses irtcur�d Q�y it in wnnectlon with such Pruceeds,upon any indebtedness secured hereby and in suCh , .
<br /> � � � order as Lender rtray determine,or to appty all such Proceeds,after such deductions,to the rastoration of the P�perty upon such mn- �•., e� �;•".
<br /> �. . " ditions as I.snder may determine.My appliptinn ot Praceeds to indebtedness shaU noi extenQ or postpone the Aue date o!any pay- , ` =
<br /> � � �=�< ments under the Ntote,or asre any default thereunder or hereuntier.My unappGed funds shaU be paid to Trustor.
<br /> ' 8.Performance by Lender.Upon the occurtenoe of an Event of default hereunder,or ii any act is taken ar legal proceeding •
<br /> ` " � • cammenced which materially affects Lender's interest in the Property,Lertder msy in its own disrxetion,but vrithoat a b tiga6on to do so, ,
<br /> , � 'i - and wlthout natioe tn or demand upon Trustnr and wRhout releasfig TnisEor from any obGgation,do any act whicA Trustnr has agreed , � .
<br /> , �.;;��- but failed to do and may afso do any other ad it deems necessary to proteat the security hereof. Tnastar shatl,immediatety upon �•
<br /> . --. demand therefor by Lender,pay to lendsr aU costs and expenses incurted and sums enpended by Lender ire wnnection with the exer-
<br /> -- . cise by Lender of the foregoIng rights,Wgs�er v�ith inierest lhereon et the defauf►rate provided in Me Note.which shatl be added to ` _�_ -_-
<br /> ' , fhe indebtedness secured hereby.Lender shali not inau any liabii'iry because of anything it rttay do or omit to do hereunder.
<br /> � • - 9. Harsrdous Materials.7rustor ShaU keep the Property in compiiance with all applipbie Iaws, ordmances and regutations , �.� ��
<br /> � � , . retating to industrial hygiene or environmental protaction(vollectivety refersed to herein as'Environmer�l Laws�.TrusOor shall Eceep '
<br /> � the Property tree from all sabstancees deemed to be hazardous or toxic under any Enviranmer►tai Laws(coltec6vEly refemed to t►erein : . .
<br /> as`Hazar�dous Materials'j.Trustor hete6y wartarrts and represents to Lender that there ar�e no Hazardous Materials on or urrder the _ _ ;���.;.``
<br /> .-4• Property.T�ustor hereby agrees w indemnif}r and ho(d harmless Lender,ib ditectors,officers,emptoyees and agents,and any succes• � � __ _
<br />- � • sors to Lendefs(nteres-t,fiam end against any and ali daims.Qamages,tosses and IiabTi�es adstng in oonnection witt►4he presence. �'a ' •� =
<br /> ' use,d�sposal or transport of an Hazardous Materiais on,under,irom ar about the Property.THE FOREGOlNG WARRAN77ES ANb . ,�E"' •
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<br /> _' - ' REPRESENTA7tONS,AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FQREGOlNG INDEMNITY,SHALL SURVIVE � .
<br /> - � �`-` RECOM/EYANCE OF THtS OEED OF TRUST_ _-
<br />- � -t: 10.Assignmer�t of Renffi.Trustor hereby assigns to Lender,and grants Lender a security interest in,all present,fu�re and --
<br /> � • after arising rents,issues and profits of the Property;provided that Tnastor shaU,anSl the occumence of an Event of Qefault,heneunder, • s. `�'-, _-•.
<br /> � have tt�e right to collect and retatn such rents,issues and profRs as they become due and payabte.Upon the accurrertce of an Event of � '.,._;�,;,.
<br /> � � � ' •��� Default,Lender may,either in petson or by agettt,witfi or without brtngirlg any action or praceeding,or by a receiver appointed by a � . � . ��`�=
<br />�'� � couR and wiihout regard to the adequacy of its securiry,enter upan and take possession of the Pcoperry,or any part thereof,in its ovm �- �'V�=
<br /> �- . , • --- name or in the name of the Tn�stee,and do any�acts whicb it dsems neoessary or desirabte to presenre the value,madcetability or � `- ' ���`��
<br />' �-��� rentabiGty of the Property,or any part thereof or interest therein,or ta increase the income therefrom or protect ifie security hereof and, ,� ��. �_
<br /> � ``..� with ar wiihout taking possessfon of the Property.sue for or otherwlse coltect the [ents.issues and pmfits thereofr.inciudrng fhosa pasl . `��:'f'
<br /> , '' ��'� dua and unpaid,by notifying tenants tn make paymanb to Lender.Lender may apply rents,issues and profits,less costs and expens- � =-�`�_
<br /> . . es of operaUon and coltecflon inGudtng attomeys faes,to any indebtednass secured hereby,all in such arder as Lender may deter- • � ` �A�-
<br /> .�::�, mine.The enteri u on and takin ion ot the Pro e ihe ccitection of such rents,issues and rofits,and t!►e piiptton "�n���`
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<br /> � � thereof as aforesaid shall not cure or waive any default or notice of defauR hereunder or(nvalldate any act done in response fi suCh � -
<br /> ��. . • dQfault or pursuant to sur,h nofice of defauit and,notwithstanding the oonUnuance ln possession of the propertyl or the collection, � ___
<br /> receipt and appilcation af rents,issues or pmfits,Trustee and Lender shail be entitled to exercise every right provided for In any of the �: .:.�' �;;_:.�
<br /> � '. Loan Instruments or by law upon occurrence of any Ever►t of Defautt,induding without limita�on the right ta exercise the power of sate. ,:�...�
<br /> ' � . Further,Lenders dgfits and remedles under this paragraph sha[t be cumulative with,and In no way a 6mttatian an,Lenders righta and , • -
<br /> remedies under any assignment of teases and rents recorded against the Property.Lender,Trustee and ti�e reoeiver shall be Ilabte to �����• ._:
<br /> ���" � account pnly tor those rents actually received. • � ���`�—
<br /> • .' 11.Events ot Detauit The folfowing shall canstitute an Event of Default under this Oeed of Trusx • � �"�
<br /> -"� � � (a)Faiture to pay any instaliment of principal or interest or any other sum seaired hereby when due; - _-
<br /> _ _ (bj A breacb of or defautt under any provision coniained In the Npte,this Deed of Trust,alry oi the Loan Instruments,or any • _ • .+r."='
<br /> � ' other lien or encumbrance upon the Property; ' . ��•s=
<br /> '' ' ` � (c)A writ of execuUon or attachme�t or any similar process shall be entered against Trustor whtch shall become a(ien on `' �>-
<br /> `' , . . ', the PropeRy or any poRlon thereof or interest therein; '• ��'�"`
<br /> ' . (d)There shall be fited by or against Trustor or Borrower an action under any present or future federal.state or other shatute, : • . �'�•�
<br /> ' � . • .. ; taw or regulatlon relating to bankrupt�y,insolvency or other relief for debtors;or there shall be appointed eny Wstae,receiver o► � -
<br /> ' � IiquidaWr of Trustor o►Borrower or oi atl ar any paR oi the Property,or fhe rents,issues or profits titereof,or T�ustor or Borrower ' � '_
<br /> � , shall make any general assignment for the benefit of creditors; '. � ' ' -�
<br /> � (ej The sate,transfer,tease,assignment canveyance or further encumbrsnce oi all or any paR of or any tnterest in the __ ' '�
<br /> ���:: . ' ., .�, < PropeRy,either vatuntarify or fnvotuntarity,without the express wr(tten consent ai Lender,ptoviQed that Trustor shall be petmtt- •�,;�,. `
<br /> � ted to execute a fease oi tfie Property that doos not contaln an optlon W purchase and the term ot whicb does not exoeed one : • , � 'x�
<br /> -. . Year,
<br /> � . (�Abandonment of the Property:or ' • �� .:
<br /> . .. . ' . (g)If Trustor fs not an individual,the issuance,sale,transfer,assignment,conveyanCe or encumbrance ot more than(it e • • •;�f,
<br />, corporatlon)a total oi percent ot its issued and outstanding stack,or{tf a paRnership)a total oi pea . . ,
<br /> - cent of paRnership interests,or(!f a Umited liability company)a total of percent oi the limited liability oompa- �
<br /> ' .: ny interests or voUng Nghts dudng the pedod this Oeed of Trust remains a lien on the property. .
<br /> � � 12.Remedles;Aceeferation Upon Defaul�In the event ot any Event ot Detault Lender may,without notice except as required . .
<br /> by law,dectare all inQebtedness secured hereby to be dua artd payabfe and the same shail thereupon become due and payable wlth- � � . •
<br /> . . . out any presentment,demand,profest or noUce of any kind.Thereafter Lender may: � : , _..
<br /> ., • � � (a)Demand that Trustee exerGse the POWER OF SALE granted hereln,and Trustee shali thereafter cause Trustor's inter- � �
<br /> , � � est in the PropeRy to be sotd and the proceeds to be distrlbuted,ail in the manner provided in the Nebraska Trust Oeeds Ac� � . • .
<br /> . ' (b)ExerGse any and ail rights provided for in any oi the Loan Mstruments or by law upon occurrence o!any Event ot ,
<br /> • �. I]efaulh,and ,
<br /> (c)Commence an action to forectose this Osed o!Trust as a mortgage,appoint a receiver,or speGflcally enforce any,oi the
<br /> � covenants hereof. �
<br /> .' ` . No remedy herein conterred upon or reserved to Trustee or Lender is intended to be exGusive oi any other remedy herein,in the Loan
<br /> . instruments or by law provlded or pertnitted,but each shall be cumulative,shaii be in addiUon to every other remedy given hereunder, .
<br /> � in the Loan InsVuments or now or hereafter existing at law or in equity or by statute,and may be exercised concurrentry,independenUy � �
<br /> , . . or succesivety.
<br /> . � 13.Trustee.The Trustee may resign at any tlme wlthout cause,and Lender may at any time and without puse appolnt a suo- ' :
<br /> cessor or substitute Trustee.Trustee shai!not be liable to any party,including without limitation Lender,Borrower,7rustor or any pur- �
<br /> . , chaser of the Property,tor any toss or damage uniess due to reckless or wi�iful misconduct,and shall not be required W take any action • �
<br /> ' . in connection witb the enforcement oi this Deed of Trust unless indemnified,in�.vriting,for all cost�,compensation or expenses which � � .
<br /> ( may be associated therewith. In addltlon,Trustee may become a purchaser at any sate of the Property(judicial or under the power of
<br />_ , � � ; sale gtanted hereln);postpone the sale ot al1 or any poRion ot the Propertyr,as provided by law;or sell the Property as a whote,or in • ' _
<br /> ' , separate parceis or lots at Trustee's disaetion. �
<br /> � 1 14.Fees and Exponses.ln the event Trustee sells the Property by exercise of power of sale.Trustee sha�l be entiUed to appty
<br /> � . � any sale proceeds flrst to payment of ail costs and expenses of exercising power of sate,inctuding ail Trustee s fees,and Lenders and .
<br /> Trustee's attomey's fees, actually incurted to extent permitted by appilcabie taw.In the event Borrower or Trustor exercises any right
<br /> provlded by law to cure an Event oi Detauit,Lender shail be entitted to recover irom Trustor all costs and expanses actualty incurred as .
<br /> . � a result of Trustor's detautt,lnctuding without limitation all Trustea's and attomeys tees,to the extent permitted by appticabie law. �
<br /> . j 15. Future Advances.Upon request oi Bonower.Lender may,at its option,make additional and future advances and read- •
<br /> . � vances to Bonower.Such advances and readvances,with interest thereon,shail b9 secured by this Deed oi Trust.A!no Ume shall the � �
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