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<br /> • � �proceeds�in oonnection with oondemnaUon or other faking of the Property or paR theceat,or tor conveyance lieu nt condemnation. �• � • • • •
<br /> `, ,„ Lender shall Ee e�ttted at Bs optian to cammence,apDear in and prnsecute in ib�wn name any action or proceed�ngs,antt shall also � � .`.. .
<br /> .. � :.;� be erttitte0 eo make any ccmpromiss or s�eWemant in wnnec�on wit4f such taking ar damage.In the event any poNon of the Property is :<` . : t' ;;.- ,.,
<br /> `�. so taken or damage0.Lender shall have tfia optIon in its sote and ebso(iiDa Giscretlon,tn sAPty aft suct�praceeds. after deQu�ing . ' '
<br /> therefrom a1l ocsts and expenses inairrad by it in aannect�on wNh sueh Proceeds.upon any i�debtedness sacured heneDy anQ in such , �, `
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<br /> ` .`.� order as Lender may dstermine.m tc aPPh►atl such Pircoesds.afGer sud�deductions.to the casmratlon oi the ProPeR1►uPan such�tr �_ , � ,
<br /> ` ' d�ons as Lender may detertNne.My appGcatton of ProceeQs Lu indetneMess shail rcat e�derui or pos4pona ths dua date of any pay- � , ' t�'� v ,.
<br /> menLs under ths Note,or aue arry defauIi ther�eundar or hereunder.Any unappfied funds sha►�be Patd to TrusOor. � � � `: . ''� `
<br /> ' . . `f 8.Perfomranee by Lender.Upon the accurtence of an Event oi Detault hereundor,or if any act is taken or tegai prnoee�ing -�
<br /> ` � �� �'f t�_,:��,.
<br /> � �mmenced which materialty affecc;ts lenders inteiesi in the Property,Lender may in its awn disaet3an,bui without obligatiort to do so, , ,� •. . �
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<br /> '--. ...fi and without notice to cr demand upon Trustor and wfthout reteastng Trustor fiam any o�tigation,do any act which Tnutor has agreed , , �
<br /> � . ,_..�..:� but fa7ed to do and may aiso do arty othev act it deems necessary►io protect the security her�of.7�vstar sh3U.immediaish►uPcn - < A `� .,
<br /> ° • '` demand therefor by Lender,pay to Lender�I wsts and expenses incumed and sums expended by Lender in oonnedion with t�e euer- :_x . , ,. .
<br /> � °� cise by Lender of the foregang rights,tcgett►er wttl�icrterest thereon at tAe defauit rafe provided in the Note,whi�shal!be added to , .4 •. � .
<br /> • - �`,�. ..
<br /> � ����,' the indebtedness secured he�eby.tender shaU not incur any frability becauss of anything ft may do or omit to da hereunder. ,;,
<br /> � <= ••� 9.Harardous Materiais.Tnistnr sfial!keep t�e Property in�o�npfiance with all appficabie laws.ordinanoes and regu(ations ,,�;, �.: �; ..
<br /> relsting Uo industrial hygiene or environmental protection(co8ectivaty�eferred to herein as'Environmentat Lay+rs'.Tnlstor sfiall keep . • :• ��,,,:. .�.�
<br /> � � , the Praperty free from a��subshanoes deemed ta be ha�rdous or toxic wder any Environmental Laws(coftecfively referted to here(n -. -4: �; ` �
<br /> ` as'Hazardnus Materials�.Tn�.stor hereby warrants and represenis fio Ler►Qer thaf there are no Hazardous MateriaSs on or under tha :`.i: , . - . ° ::�'`-,__-=,
<br /> °� `,V' Property.Tn�star hereby agrees to indsmnify and hotd harmtess Lender,ils dUecflors,offioers,emptayees ar�d agerds.and any suxes- `.:�:�`�
<br /> � so[s to Lendar's iriterest,from and against arry and all daims.damages�losses and Gabiiities aristng tn cannection wiU�the presence. ° �.�����;,_��.
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<br /> use,dlsposal or transpoR ofi arry Hazardous Materials an.under,from or about the Property.THE FOREGOiNG WARRANlTtE3 AND :�_
<br /> � ' � ' REPRESENTATIOI�IS,AND TRUSTOR'S OBUGATIONS PURSUANT TQ THE FOREGOING INDEMNITY.SklALL SURVIVE ' �_ �•��`==°
<br /> . °:�:_ . � RECANVEYMICE OF TH1S DEED OF TRUST. ' �:`'y�t'.
<br /> - ' 10.Asstgnment ot ttettts.Tn�.sGor hereby assigns to Lender,�d grants lender a security interest in,aU presen�firture and '�`��°�
<br /> � - after artsing rents,issues snd profits of the Property:provided�hat Trusta shail,until the occurrence of an Everrt ot Oefault,hereunder, ':<,ii:�� �_
<br /> . r j have the right to coltect and refain such rent5,issues and profits as theY became due and payable.Upon the occurrence af an Event ot �..,t_.-�--
<br /> ` ; ". . '„,� Defau�,Lender may,eftAer in person or by agent,witfi or without bdnging arry action or proceeding.or by a recetver apRointed by a ___ .__`.::.t. �----
<br /> - couR and without regard to tfie adequa�y af its security.enter upon and taka possession ot the Properry,or arry part thereof,in iis own , :h� `�—
<br /> � � � ' name ar in the name oi fhe Trustee,and do any acts which it deems necessary or dasirabte to preserve the value,markelability or ;°,
<br /> ��`.�, rentabii'ity of the Property,or any part thereof or interest therein,or m Inaease the tncome therefrom or protect the security hereot and. � :;:•--
<br /> with or wHhout taidng possession ot fhe Property,sue fer or otherwise co�ect the rents,issues and profits thereaf,induding those past ,_'•� • -*';f.':;r;�!
<br /> .. . - . �'� due aad unpaid.by notifying tenants to make paymerns to lender.Lender may epp{y rents.issues and profits.tess a�ts and expens- � : a;..:��.
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<br /> � es of operaUon and coltectlon induding attome fs fees.to any indebtedness secured hereby,all in such order as Lender may dater- -`.::,y��
<br /> � ` mirte.The entering upon and taWng passassion of the Praperty,the co�ecKlon oi sud�rents,issues and profiLg,and the appticaUon :�_�
<br /> � . - � thereof as aforesaid shail not cure or waive any default or rtoUce of dafauit hereunder or invalidate any act done in oasponse ta such ,°:�-���---
<br /> � ` defauit or pursuant to such notice of defauft and,notwithstanding the conUnuance in possession of the propetty or the coitection. -__
<br /> • � receipt and appticatlon of rerds,issues or profits,Trustee and Lertder shall be en�Ued W exercise every dght provtded for in any of the ..=-;,�. ���- �—
<br /> • Loan Instruments or by law upon occumence ot any Evetrt of Default,induding without limitation the dght W axerdse the painrer oi sate. .
<br /> � FuMer.Lenders rights and remedies under this paragraph shali be cumulaUve with,and in no way a limitation on,Lenders dghts and `:r ��:
<br /> remedies under any assignment of leases and rents reoorded against the Property.Lender,Trustee and the receiver shali be liabte to , , � '.; �°'�"
<br /> � ';, acoount oniy for those rents achralty received. ' �
<br /> . `= •- 11.�venffi 04 Oefaui�The bitowing shafl consflL�te an Event ot Default under thls Oeed of Trust • - ;_���
<br /> (a)Failure w pay any instattment ot prtnctpai or interest or any other sum secured hereby when due; .� . :���
<br /> . • ' (b)A breach of or default under any Rrovision contained In the t�tote,thls Oeed of Trust,any of the Loan Insbuments,or any . ,•��;::.
<br /> other fien or encumbrance upon�e PropeRy; �
<br /> . (c)A wdt of execuUon or ettachment or any similar process shail be entered agatnst Trustor vfiicb shail bewme a Ifen on • • •�jy�;��:
<br /> • the Proparty ar any poRion thsreof or interest therein; . � •__ t
<br /> ' , '",. (�There shalt be filed by or agatnst Trustor or Borrower an adlon under any present or tuture federal.state or olher statute. , ,—
<br /> . law or regufatton retaUng to bankruptcy,insotvency or other relief tor debtors;or there shell be appolnted any trustea,reeetver or ^ ,�;
<br /> liqutdator o1 Trustor or Barrower or of sU or any paR ot the ProDerty,or the reMa,issues or proftts thereoi,or frusto�or Borrower � �
<br /> _ shatl make any generai asstgnment for the benefit oi creditors; �' f' � ' .�-
<br /> � �� (e)The sala,transfer,lease,assignmen�conveyance or turU�er encambrance oi all or arry part of or arry interest in the ••� . '^,� '�
<br /> �� , . PropeRy.etther voiunta�ity or imrotunted(y,without the expresa w�tuen consent of Lender,provided that Tnistnr shall be permR- . ,-=-.
<br /> � ted to execute a lease W the Propedyr that daes not oonffiin en option to purehase and the term of whfich does oot exceed one � .
<br /> year, . -
<br /> � . (Q A6andonment of the Proparty;or . �. �
<br /> "'' � (g)H Trustor Is not an indlvidual,tho issuance,sete,transfer,assignment,conveyance or enambranoe ot more than(if a .
<br /> � • corporeUon)a Wiat of percent of its issued and oulstandlrsg stodc,or(iT a partnership)e total of per- . .
<br /> . • � cent ot partnersNp interests,or(tt a limited liabitity company)�tofal oi peroent oT the IimiUed Ilabiliry compa- „ �
<br /> ny interests or vaUng�ights during fhe perlod this Oeed oi Trust remains a lien on the property. � • • • ,
<br /> � 12.Remedies;Aeeeteratlon Upon Detauit In the evant of any Event o1 Oefault Lender may,without noUoe exeep!as required .
<br /> � � by lav�,dectare all Indebtedness secured hereby to be due and payabte and the same shall thereupon bewme due and payabte with- • �
<br /> � out any presentrnent,demand,prutest or noUcs ot any kind.Thereafter lender may:
<br /> . (a�Demand that Trustee exercise the POWER OF 8ALE grante0 herein,end Tnistee sha0 thereafter cause Trustors inter- . � .
<br /> • ' est�n fhe PropeRy to be sotd and the proceeds to be disbibuted,aii in the manner proviaed in the Nebtaska Trust Deeds Ack . , .
<br /> � �. (b)Exercise any artd all rights pravided for in arty of the loan Instruments or by law upon oocurtence o1 any Evenl of �
<br /> `,,; � DefauN;and � ; _
<br /> - . . (c)Commence an actlon to foreclose this Oeed of Trust as a mortgage,appolnt a recelver,or spedflcaliy enforce any ot the .
<br /> '� covenants hereol. �
<br /> � No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exGusive of any other remedy hereln;tn 41t�Loan
<br /> � tnsVuments or by taw provided or permitted,but each shatl be cumutaUve, shail be in addition to every other remedy�tven ttAreunQer. • �
<br /> � � � � . In the Loan fnstruments or now or hereafter exlsUng at law or in equity or by statute,and may be exercised concurrentiy,independentty .. � .
<br /> ' .' or succesive(y. �.
<br /> • 13.Trustao.The T�ustee may resign at any time without cause,and Lender may at any tlme and without cause appoint a su�
<br /> � � � oessor or substitute Trustee.Trustee sha�l not be UabJe W any party, lnduding without IimitaUon Lender,Borrowar.Trustor or any pur- •
<br /> chaser oi the Property,tor any loss or damage unless due to recktess orwilliut misconduct,and shatl not be required to ffitce any acpon •
<br /> • � in connection with the entorcement of this Deea of Trust untess indernni�ed,in writing,for afl costs,compensaUon or expenses which
<br /> may be associated therewilb.In eddiUon,Trustee may become a purchaser at any sate of the Property(judiciat or under the power ot
<br /> , sate granted herein);postpone the safe of all or any poRlon of the PropeRy,as provided by law;or seil the Proparty as a whole,or in
<br /> � • separate parcets or tots 2t Trustee's discreUon. ' � � •
<br /> : � 14.Fees and Expenses.in the event Trustee seits the Properiy by exercise of power of sate.Trustee shalt be entitled to appiy „ , �
<br /> any sala precesds flrst to payment of a11 costs and expenses oi exercising power ot sate,inctuding atl Trostee's fees.and Lenders and
<br /> I Trustea's a�omey's fees, actuat�y inc�r.2d to eutent pertnitted by applica4�te law.In the event Borrower or Trusror exercises any right �
<br /> • provided by law to cure an Event ot�efauit,Lender shail be entitied to recovar from Trustor afl casts and expenses actualiy Incurred as
<br /> _ a result of Trustots detautt,Including without IimitaUon ail Trustee's and attomeyls fees,to the extent permitted by appllcabte law. •
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<br /> , - - � � j 15.Future Advances. Upon request of Borrower,Lender may,at its option,make aQ�iiUar�ai ead tufure advances a�d raad- - --
<br /> � ! vances to Bonower.Such advances and readvances,with interest thereon,shall be secured by this Deed of Trust.At no tlme shall the
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