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<br /> � .- -----�_._...�_._ . .. .. 97- 1(315�99 � • '--
<br /> � "Procoads')In connectlon with wndemnation or other taking of the Property or part thereof,or(or conveyonce in lieu of condemnat�on. �
<br /> ; Londor sholl bo onUtlod At Its option to commenco,eppear fn ond prosecute In its own name any action or proceedings,and shall also �s.
<br /> � bo ontitlod to mako any compromise or settlement in connectfan with such takfng or damage. In the event any portfon Ql lhe Property is
<br /> ' �_
<br /> Iso lalton or damagod, LondSr shall have the option in its sole and absolule discretion, to apply ali such proceeds, after deducting
<br /> � thorofrom riii costs and oxpenses incurred by it in connection with such Proceeds,upon any indebtedness secured hereby and In such �,
<br /> � order as Londar m�y dotormfne,or to apply all such Proceeds, after such deductions,to the restoration of the Property upon such con- �_
<br /> ditions ac Lender may determino.Any applicatlon ot Proceeds lo Indebtedness sheli not extend or poslpone the due date of any pey-
<br /> � menls undor the Noto,or cure any default thereunder or hereunder.Any unapplied funds shall be qaid to Trustor.
<br /> I 8.Por4orrnanco by Lor�der. Upon the occurronco of an Evont of Default herounder, or if any act is taken or legai proceeding :
<br /> + commenced whfch meterially aflects Lender's Interest in the Property,Lender may in its own discretiun,but without obligation to do so,
<br /> � and without notice to or demand upon Trustor an�without releasing Trustor from any obligation, do any act which Trustor has agreed
<br /> but failed to do and may also do any other act it deems necessary to protect the security hereof. Trustor shail, immediately upon
<br /> demand there(or by Lender,pay to Lender ail costs and expenses incurred and sums expended by Lender in connection with the exer-
<br /> cise by Len�ier of the foregoing rights, together with interest thereon at the default rate provided in the Note,which shell be added to .
<br /> the indobtodness secured hereby.Lender shall not incur eny Iiability because of anything It may do or omit to do hereunder.
<br /> 9. Hazsrdous Materials. Trustor shall keop the Property in compliance with all appliceble laws, ordinances and regulatfons
<br /> relating to Industrial hygiene or environmental protection (collectively reforred to herein as"Environnnental Laws').Trustor shall keep
<br /> the Property tree irom all substances dQemed to be hezardous or toxic under any Environmontal Laws(collectively referred to herein ,
<br /> as'Hazardous Materials").Trustor hareby warrants and represents to Lender that there are no Hazardous Materials on or under the , •
<br /> • Property.Trustor hereby agrees to indemnify and hold harmless Lender, its directors,o�cers,employees and agents, and any succes- " .'�+�wt+"'�
<br /> sors to Lender's interest,frnm and against any and all claims, damages,losses and Ilabilitie:erising fn connection with the presence.
<br /> use,disposal or transport of any Hazardous MateNals on,under,from or about the Property.THE FOREGOING WARRANTIHS AND __ �
<br /> REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE .�.�;:._
<br /> RECONVEYANCE OF THIS DEEO OF TRUST. ""'�°iI'�'"`°..
<br /> 10.Assignment of Rents.Trustor hereby assigns to Lender,and grants Lender a securiry interest in, all present, future and + L'�� ���;
<br /> after arising rents,issues and profits of the Property;provided that Trustor shall,until the occurrence of an Event of Default,hereun�er, � `� �' ;
<br /> • "�'-,r=
<br /> have the right to collect and retaln such rents,Issues and proflts as they become due and payable.Upon the occurrence of an Event of _
<br /> Detault,Lender may,either in person or by agent,with or without bringing any action or proceeding, or by a receive�appointed by a
<br /> Icourt and without regard to the adequacy of its security,enter upon and take possession of the Property,or any part thereof,in(ts own '. :=� ~
<br /> I name or in the name of the Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or
<br /> rentability of thd Property,or any part thereof or interest therein,or to increase the income therefrom or protect the security hereof and,
<br /> '��. with or without taking possesslon of the Property,sue for or otherwlse col►ect the rents,Issues end profits thereof,Including those past
<br /> � due and unpaid, by notifying tenant3 to make payments to Lender.Lender may apply rents, Issues and profits,less costs and expens-
<br /> es of operation and c:ollection including attomey's fees,to any indebtedness securod hereby,all In such order as Lender may doter- �;
<br /> � �� � mine. The entering upon and taking possession of the Property,the collection of such rents,issues end profits, and lhe application
<br /> thereof as aforesaid shall not cure or waive any defauit or notice of detault nereunder or invaiidaie any aci donn in rtl��n5n to auci�i — . .';�
<br /> defautt or pursuant to such notice of defauit and, notwithstanding the continuance in possession of the property or the coltection, �„ ;
<br /> receipt and applfcation of rents,issues or pr�8ts,Trustee and Lender shali be entitled ta exercise every rlght provided tor in any oi the . •
<br /> Loan Instruments or by law upon occurrence of any Event of Default,including w(thout Ilmltation the right to exercise the power of sale. •.�- "
<br /> ' Further,Lender's rights and remedies under this paragraph shall be cumulative with,and in no way e limitation on,Lender s rights ancl �,:,,;� :�:
<br /> remedias under any assignment oi leases and ronts recorded against the Property.Lender,Trustee and the receiver sheil be Ilable to ">
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<br /> account only tor those rents actually recefved. r '' ..
<br /> 11.Events of Default.The foltowing shali constitute an Event of Default under thls Deed ot Trust: °
<br /> � (a)Failure to pay any Instaliment of principel or interest or any other sum secured hereby when due; �,.., �'
<br /> ` (b)A breach of or default under any provislon contained in the Note,thls Deed of Trust,eny of the Loan Instruments,or any � ,.,
<br /> other Ilen or encumbrence upon the Property; � :"'�.
<br /> � (c�A writ of oxecution or ettachment or any simller process shall be entered against Trustor which shali become e Ilen on ,�g¢�
<br /> ` the Property or any portion thereof or Interest thereln; �'����� �
<br /> � ��`aY. �.�..,F
<br /> (d)There shall be filed by or against Trustor or Bcrrower an action under any present or future federal,state or other statute, ���.�--
<br /> h.� law or regulatlon releting to benkruptcy,Insolvency or other rellef for debtora:or there shali be appointed eny trusteo,recetver or '`ei��;_
<br /> liquidator of Trustor or Borrower or oi ell or eny part of tne Property,or the rents,Issuc�s or profits thereof,or Trustor or Borrower ..�.,: ��
<br /> ' shalt meke any general assignment for the benefit of creditors: �+�-s���
<br /> � � (e)The sele, trensfer, lease,asslgnment,conveyance or furthor encumbrence of all or any part oi or any Interest fn tfie .��_�
<br /> ' � „ Properly,elther voluntadly or Involuntarily,without the express written consent of Lender,provided that Trustor shali be pertnit- ,:,�:�__
<br /> � � ted to execute a loaso of the Property that doos not conteln an opUon to purchase and the term ot which does not exceed one :
<br /> ,:�"r
<br /> year. •_,�•,� - — -
<br /> � j (�A4andonment of the Property;or �
<br /> ' � ! (g)If Trustor is not en (ndividual,the issuance,sale,transfer,assfgnment,conveyance or encumbrance of more tt�an(if a ;
<br /> � corporation)a total of _percent of its Issued end outstanding stock,or(If a part�ership)a total ot pe�- .�'''r.�, .:';"• r��{,
<br /> ; cent oi partnership Interests,or(if a limited Ilability company)a tota!of pe�cent o(the limited Iiebil(ty compa- ,'?�
<br /> i ny Interests or voting rights during the period this Deed of Trust remalns a lien on the property. �''. ��
<br /> 12.Remedies;Acceleratlon Upon Defautt.In the event of any Event of Ddfault Lender may, without notice except as requlred ,
<br /> - by Is�w,declaro all indebtedness secured hereby to be due and payabio and the same shall thereupon become dua and payable with-
<br /> out eny presentment,demand,protest or notics of any kind.Thereafter Lender may:
<br /> (a)Demand that Trustee exercise the POWER OF SALE granted herein,and Trustee shall thereafter cause Trustor's Inter-
<br /> � est in the Property to be sold and the proceeds to be distributed,all In the menner provided In the Nebraska 7rust Oeeds Act;
<br /> (b) Exerclse any and all rights provided for in any of the Loan Instruments or by law upon occurrence of any Event of
<br /> Default;and
<br /> _ � (c)Commence an action to foreclose this Deed of Trust as a mortgage,appoint a recelver,or speciflcally enforce any of the -
<br /> covenants hereof. •
<br /> No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein,in the Loan . .
<br />= (nsWments or by law provided or permilted,but each shall be cumulative,shali be in additton ta every other remedy given hereunder,
<br /> in the Loan Instruments or now or hereafter existing at lew or in equity or by statute,and may be exerclsed concurrently,indvpendontty
<br /> nr a�uraaivalv
<br /> " 13.Trustee.The Trustee may resign at any time without cause,and Lender may at eny time and without cause appoint a suc- ---- --
<br /> cessor or substitute Trusteo.Trustae shall not be Ifable to eny party,Including without Ilmitatlon Lender, Borrower,Tnistor or any pur- .
<br /> chaser of the Property,for eny loss or damac�e unless due to reckless or willful misconduct,and shall not be required to teke any ection
<br />'- ' in connectfon wlth the enforcement of this Deed of Tr�st unless fndemnified, in writin�,for all costs, compensation or expenses which
<br /> may be assoGated therowith.In additfon,Trustee may become e purchaser at any sale of the?roperty(judicial or under the power of
<br /> sale granted herein);postpone the sale of ail or any portion of the Property,as provided by law;or sell the Property as a wholo,or in
<br />', separate parcels or Iots at Trustee's discretion.
<br /> - 14.Fees and Exponses.In the event Trustee seils the Property by exercise of power oi saie,Trustee ahall be entltled to apply
<br /> any sale proceeds first to payment of alI costs and expenses of exercising power oi sale,fncluding all Trustee's tses, and Lender's and
<br /> Trustee's attomey's feos, actually Incurred to extent pertnitted by applicable law.In the event Borcower or Trustor exercisas any right
<br /> ; provided by law to cure an Event of Default,Lender shall be entitled to recover from Trustor ali costs and expenses actually incurtod as
<br /> a result of Trustor's default,including without Ilmitation all Trustee's and attomoy's tees,ta the extent pertnitted by applicable law.
<br /> 15. Future Advances.Upon request of Borrower,Lender may, at Its optfon, make additional end future advances and read-
<br /> vances to Borrower.Such advances and readvances,with Interest theroon,shall be secured by this Deed o(Trust.At no time shall the
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