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<br /> � ' . �� 'Pmceeds�in wnnec�ion with condemnation or other taking of the Property or part the�eof,or for conv�i�iM�lft aondemnabon. • . ,
<br /> � ' . Lender shail 6e enSUed at its option to commence,appear in and prosecute in its own rtame any acGon or proceedings,and shatl also '
<br /> ' , be en6Ued to make any camprnmise or sattlement in connection with such taking or damage.In the event any portion af the Property is ' � � �
<br /> � ' ' . so taken or damaged,Lender shail have the option in iLs sole and absofute disaetion,W apply all such procee6s, after deducting � �
<br /> � �_ • , therefrcm ali oosfs and expenses incurred by it in connection with such Proceeds,upon any indebtedrtes.s secured herehy and in sucfi � �
<br /> ' - � order as Lender rnay defertnine.or to apDly all such Pm�oseds.after s�:ch deduc6ons.to the restoration of the Property upan such coo- �, . _ .
<br /> , � ditians as Lender may datertnine.My appGqtion of Prooeeds to indebtedness shall not extend or postpone the due date of arry pay- �
<br /> ments under the IVote,or cure any default thereunder or hereunder.My unappliec!tunds shall be paid to Trostor. _ .� . r �
<br /> 8.Performance by Lender.Upon the oxurrenoe of an Event of Defautt hereurtder,or if any act is taken or tegat proceeding � `
<br /> oommenced which materiafly affects Lender's interest in the Property,Lender may in its own�scretion,but without ob6g�tion to do so.
<br /> ' `; = � and without rtoBce to or demand upon Trustor and without releasing Tnistor from any oDligation,do any act which Trustor has agreed , � ' `" �.
<br />_ --�°=� .J but failed to do and may aiso do any other act it deems neoessary to protect the security hereof.Trustor shap, immediatety ugon �, - - � - --
<br /> _---'_---_-_-__.� demand therefor by lender.PaY to Lendet aU cosis ane expenses incx�rred and sums expended by Lender in connectian wifh the exer- . � ,.-�-�`-��:�`
<br /> cise by Lender of the foregoing fights,together vrith interest thereon at the default rate provided in the Note,which shall be added to
<br /> .� t h a i n d e D t e d n e s s s e c u r e d h e r e b y.L e n d e r s h a U n o t i n c u r a n y t i a h i l i t y b e c a u s e o f a n y t h i n g i t m a y d o o r o m i t t o d o h e r e u n d e r. � •
<br /> �',. 9_Hazardous Mate�ials.Trust+or shail keep ffie P►operty in compliance with all applipble laws,ardinances and regutations -. . " •
<br /> : , . rehating to industrial hygiene or envlronmental protection(ooltectivety referred to herein as"Envlronmer�tal laws'y.Tnistar shafl keep - -
<br /> • the PropeRy foee from alt su6stances deemed W be hazardaus or toxic under any EnvironmEnta!Lauus(coltectively referred to herein , �`'ry� •
<br /> . �` as"Hazardous Materia(s�.Trustor hereby warranLs and represents to Lender fhat there are no Hazardous Materiafs on or under tRe • -
<br /> ` Property.Trustor hereby agrees to irtdemnify and hold harmless Lender,its direcxors,ofhcers,employees and agents,and any succes- ,: ; �".•'.�'µ�
<br /> � . �f sors to Lendet's interest,from and against any and al!clalms,damages,losses and liabitities arisirtg in connecUon with the presence, ��`��`,`
<br /> use,dsposal or bansport of any Ha�rdous Materials on,under,from or about the Properly.THE FOREGOtNG WAF2RANTIES AND • � a'` °°�-
<br /> RfPRESENTATIONS,AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREG�ING INDEMNITY, SHALL SURVIVE ` -;`� `' ��
<br /> , , RECOM/EYMICE OF THIS OEED OF TRUST. � -
<br /> - 10.Assigttment of Rents.Trustor hereby assigns W Lender,and grants Lender a security interest in,all present,future and • � .i .��=`
<br /> • , after ar(sing rents,issuss and profits of the Property;provided that Trustor shall,until the occurrence of an Event of Oefaut4,hereunder. :.., �i;�;..i��_���
<br /> , , have t�e right to callect and retain such rents,9ssues and profits as they become due and payable.Upon the occurrertce of an Event of •� �A ���'="
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<br /> � Refau�,Lender ma ,either in erson or b a ent,with or without brin in an acdon or roceedin ,or b a receiver a o(nted b a ' " " •`� �-'��
<br /> . _' cauR and without regaN to the adequacy of its security,enter upon and bke passession of the Proper�y,or any part thereof,in its own - • •,.}"°+�+"�.•
<br /> � name or in the name of the Tnistee,and do any ads which!t deems necessary ar desirabfe to presenre the vatue,marketability or ��;
<br /> '� rentability of the Property,or any part thereof ar lnterest thereln,or to increase the inpme therefrom or protect the seeurity hereof and. ' •,I:�.�-�����
<br /> � '• • withorwithouttakir� ,r..?.�:-°=
<br /> g po�session of the Property,sus for or othervvise wllect the rents,issues and profits thereof,inctuding fhose past 4��:'
<br /> • '` due and unpaid,by norifying tenants to make payments to Lender.Lender may apply rents,issues and profits,Iess costs and expens- . �'��.:�;�_;':
<br /> .� , es of operation and coltedion inrJuding attomay�s fees,to any indebiedness secured hereby,all in such oNer as Lender may deter- ' �
<br /> �-'�;��;.
<br /> mine.The enteri�g upon and taking possession of the Property,the collection af such rer�fs,issues and profits,and the appliptlon ';:�,i:_
<br /> tltereaf as aforesaid shall not cure ar waive any defauft or notice of aefault hereunder or invafidate any act done In�es�onse to Such ' �`��`""
<br /> � � default or pursuant to such notice of defauft and, notwithstanding the continuance in possession of the property or the coltectlon. � ��
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<br />. � ' receipt and applipUon of rents,issues or profits,Tnutee and Lentler shall be enUUed to exerase every rlght provided tor in any of the � . i'��'=..
<br /> � � . Loan Instruments or by taw upon occurrence of any Event of Default,irtctuding without IimiteGon the right to exercise the power of sate. �
<br /> . - Furtfter,Lenders rights and remedies under this paragraph shall be cumutative with,and in no way a limitatton on,Lenders rlgfits and ��.:t,��
<br /> ,' � � • remedies under any asslgnment of leases and rents rewNed against the Property.Lender,Trustee and the receiver shall be liabte to � • . -'�_'�;.�-,r
<br /> account only for those rents actuaity received. �> , ?;.
<br /> �'� •. _ 11.Even4s of Def�uYL The follawing shall consiittute an Event of Detault under this Deed of Trust - :°'r� °
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<br /> ; • _ (a)Eailure to pay any instatlment of pdnclpal or interest or any other sum secured hereby when due; �• �:�:°;�: :.:._��.
<br /> �` ' • (b)A breach oi or default under any provision contained in the Note,this Deed of Trust,any of tha Loan Instruments,ar any � ;'���`�����.
<br /> . . ; other lien or encumbrance upon the Pmperty; '°i�� ;,�"
<br /> � (c)A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a llen on ' •1•��':
<br /> : .. � �'t the Property or any poNon thereot or interest therein; ':`;;��_
<br /> , (d)There shall be fiied by or against Trtistor or BoROwer an action under any present or future federal,state or other statut0, � �'�''
<br /> � �' faw or regutation retating to bankruptcy,lnsolvency or other relief for debtora;or there shall be appointed any trustee,receiver or � '�f��'
<br /> � liqufdaror of Trustor or Borrower or of atl or any paR oi the Property,or the rents.Issues or profits thareof,or Trustor or Bortower . '. .,,�.-.
<br /> . , s�a:!make any general assignment for the benefit of creditors: •u��_.
<br /> .. (e)The sale,Vansfer, lease, assignment, oonveyance or further encumbrance oi all or any part oi or any interest in the • � -
<br /> ' Proparty,either valuntartly or Involuntarily,without the express written conser.t of Lender,provlded that Trustor shall be permit- ` `:
<br /> } ted to execute a lease of the Property that does not contain an option W purchase and the tertn of which does not exceed one
<br /> • ��-; year, .,
<br />. . (fl Abandonment o!the Properiy;or .� '
<br /> • � (g)!f Trustor is not an indlvldual,the Issuance,sate,transfer,assignment,conveyance or encumbranoe ot more than(ii a . •
<br /> . ..
<br /> ' corporatlon)a total of percent of its issued and outstanding stodc,or(if a partnership)a ta:s1 oi per- � '
<br /> . cent oi partnership interests,or(if a limited tiabitRy company)a tota!of percent oi the Gmited liability compa-
<br /> ny inisrests or voting rlghts during tt�e period this Deed af Trust remains a lien on tfie property. � • �
<br /> ' 12.Remedtes;Aceeteratlon Upo�Detauit In the event oi any Event of Detault Lender may,without notice except as required �
<br /> . � by law,declare all indebtedness secured hereby to be due and payabte and the same shatl thereupon become due and payabta with- � � '
<br /> : . out any presentrnent,demand,protest or notice oi any kind.Thereafter Lender may: ' '
<br /> ' � (a)Demand that Trustee exercise the POWER OF SALE granted herein,and Trustee shall thereafter puse Trustor's lnter- ` �
<br /> est in the Properc,�!o be s�td and tha proceeds to be distributed.all in the manner provlded in the Nebraska Trust Deeds Ad;
<br /> (b) Exercise any and all rights provided for in any of the Loan Instruments or by lam upon occurrence ot any Event of
<br /> . i DefaulC,and ,
<br /> j (c)Commence an action to foreGose this Deed o!Trust as a mortgage,appolnt a receiver,or specificatty enforce any o1 the
<br /> coverrants hereof.
<br /> No remedy herein conterred upon or reserved to Trus'.ee or Lender is Intended to be exclustve oi any other remeCy hetein,in the Laan � . •
<br /> Instruments or by law provided or permitted,but each shall be cumulative,shall be in addition to every other re-edy given hereunder, �
<br /> . ln the Loan InsUuments or now or hereafter existing at law or ln equity or by statute,and may be exercised conwrrentty,independenUy
<br /> . ar succesivety. _
<br /> � 13.Trustee.The Trustea may resign at any time wlthout cause,and Lender may at any time and without cause appoint a suc-
<br /> , , cessor or substitufe Tnistee.Trustee shall not be Bable to any parly,including without limitation Lender,Borrower,Trustor or any pur- . .
<br /> chaser ot the Property,for any loss or damage unless due to reckless or witlful misconduct,and shall not be required to take any action
<br /> - • in connection with the entorcement of this Oeed of Trust unless indemnified,in wnting,for all costs,compensation or expenses which
<br /> may be associated therewith.In addition.Trustee may become a purchaser at a�y sale ot the PropeRy(judiclal or under the power of �
<br /> � sale granted herein);postpone the sale ot all or any porUon of the Property,as provided by law:or sell the Property as a whole,or in f �
<br /> , separate parcels or lots at Trustee's discretion. � '
<br /> � : � ' 14.Fees and Expenses. In Ihe event Trustee sells the Property by exerclse of power of sate,Trustee shall be entiUed to apply �
<br /> '.:; any sata praceeds first to payment of all costs and expenses ot exercising power oi sale,including all Trustee s fees,and Lender's and �
<br /> Trustee's attomey's tees, actually mcuned to eutent permitted by appticabte law. tn the event Borrower or Trustor exercises any right t
<br /> • pravided by law to cure an Event ot Default.Lender shall be enGUed to re�ver irom Trustor all costs and expenses actualty incur►ed as � . �
<br /> a resutf of Trustor's defauit,including without limitation all Trustee's and attorney's fees,to the extent permitted by appliqbte lavi.
<br /> .. 15. Future Advances. Upon request of Borrower. Lender may, at�ts option,make additional and future advances and read-
<br /> � �anu3s ic°.cscrcwer Suct,ad�ances an�i�eaJvanajs,vnth interest thereon,snall De securetl Dy th�s Deed of Trust.At no�ime shall the 4 � �
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