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<br /> "Proceeds')in connection Hith conderrsnation or other taking of the Property or part thereof,or for canveyance fn I�eu of candemnaGOn `.£ i�_,'
<br /> 1 Lender shaU be entitled at its option to commenoe,appear in and prosecute in its own na�ne any action or proceedings,and shall alsa �
<br /> � n n o of!h�Pr .�s �. � _ .. . .�:.. _�'s-.
<br /> ba entiUed to make any compromise or settiement in connedion with such taking or darsiaga.tn the sve t a y p rt:or� o�•.rly � - �
<br /> • so taken or damaged. Lender shali have the option in its sole and absolute discreGon, to apply alt such praceeds, after deducting . � � . .�_
<br /> therefrom ati cosLs and expenses incurred by it in connection with such Proceeds.�pon any indebtedness sewred hereby and in such � ' �vr
<br /> order as Lender may detertnine,or to appty ali such Proceeds,after such deduc5ons,to the restoration ot the Proparty upon such co�s- � . � . -
<br /> I diUons as Lender may detertnine.Any appiica6on of Proceeds to indebtedness shall nat extend or�ostpone Iha due date of eny pay- ��
<br /> ments under the fVote,or cure any default thereunder or hereunder.Any unapplied funds shall be paid to Trustor ,
<br />�. ' 8. Performance by Lender.Upon the oa:urtence of an Event of Default hereunder, or rf any act�s taken or legal procesdmg � • � �'�- �`
<br /> ' commenced which materially affects Lenders interest in the Praperty. Lender may in its own d�scretion,but vnthout obligation to do so, � •
<br /> and without notice to or demand upon Trustor and without releasmg Trustor from any obligaGon,do any act wh�ch Trustor has agroed , }�
<br /> -- but failed fo do and may also do any other act it deems necessary to prot�ct the security hereaf Trusior shall, immetf�atoty upon , :. _ ^ -�.-
<br /> demand therefor by Lender,pay to Lender ail costs and expenses incurted and sums expended by Lender in connecUOn wfth the exor• .. - �
<br /> � cise by Lender of the foregoing rights,together with interest thereon at the defautt rate provided in the Nofe,which shall he added to • . , , __
<br /> the indebEedness secured hereby.Lender shal!not incur any Iiability because of anything it may do or amit to do hereunder . .'
<br /> .. 9. Harardous Materials.Tnistor shall keep the Property in compliance�vith aIl applicable laws, o�+dinances and regulattons ,_ �
<br /> rela6ng to industrial hygiene or environmental protecbon(wllectively referced to herein as"Environmental Laws').Trustor shatt keep . , � __
<br /> the Property fres f�om all substances deemed to 6e hazardous or tonic under any Environmental Lativs(collectively referred to herein . .
<br /> as'Hazardous Materiats�.Truster hereby warra�is and represents to Lender thet there are no Haza►dous Matedals on or under the • ••��„__r_-�=
<br /> Property.Trustar hereby agrees to indemnify and hotd harmless Lender,its directors,officers,employees and agents,and any succes- • • � ; �
<br /> sors to Lenders interest,from and against any and alI Gaims,damages,losses and liabilities ansing m connection with the presence. �
<br /> use,disrosal or transport of any Hazardous Materials on,under,from or about the Property.THE FOREGOING WARRANTIES ANO • ; �V�����
<br />- REPRE��ITATIONS. AND TRUSTOR'S OBUGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE • ._���—
<br /> �; RECONVEYANC�OF TH1S DEED OF TRUST. � "".ff* ', �- '
<br /> 10.Assi�,��snt of Rents.Trustor hereby ass9gns to Lender, and grants Lender a sacurity interest in, all present,future and • . � ��_
<br /> � Y after arisirsg rents,iss:�es and profits of the Property;provided that Trustor shalf,until the occumence of an Event ot Detault,heceunder, ;• ��,,�:. ' �
<br /> have ths nght to caC2ct and retain such rents,issues and profrts as they become due and payable.Upon the occurrence of an Event of , , {•=-___
<br /> Qefauft,Lender may,either in person or by agent,with or wiihout bringing any action or proceeding,or by a receiver appointed Dy a � ��.�'�
<br /> � court and without regard to the adequaeyr of its security,enter upon and take poss9ssion of the Property,or any part thereof,in its own . ���-��
<br /> name or in the name of the Trustee, and do an acts which it deems necessary or desirable to reserve the value,madcetabili or � a
<br /> . Y p ty .� �.•,'•j_�.,:..:a�
<br /> ' rentabilily of the 1'roperty,or any part thereof or interest therein,or to increase the income therefrom or protect the secudty hereoi and, • , �� z�,,��.
<br /> ' with or without taking possession of the Property,sue for or otherwise collect the rents,issues and profits thereot,inGuding those past , t `
<br /> dua snd unpaid,�y notifyring tenants to make payments to Lender.Lender may appty rents,issues and proSits,less costs and expens- r—�
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<br /> ' es of operation and collection inGuding attomey�s fees, to any indebtedness secured hereby,all in such order as Lender may dataa -�' �
<br /> � . mine.The entering upon and taking possession of the Propertyr,the collection of such rents,issues and profits,and the applicaUon � ` ' '+ � � ',
<br /> thereof as aforessid shaU not cure or wanre any detautt or notice of defautt hereunder or invatidate any aci done in response to such , � �.-
<br /> default or pursuant to such notice of detault and,notwithstanding the continuance in possession of the property or the collection. :•� ' �
<br /> - receipt and applip5an of ronis,issues ar prafils.Trustee and Lender shall be entiUed to exercise every right provided for fn any of tho -_ ,,. . .1';
<br /> - Loa�t�struments or by Iavr upon occurrence ot any Event of Default,including u►ithout IimitaUon the right to exercise the power ai sata. ;,�,. .• � s,•.
<br /> FuRher,Lenders rights and rernedies under this paragraph shall be cumulative with,and in no way a iimitaUon on.Lendets rights and ','� � -•-
<br />'.. remedies under any assignment of leases and rents recorded against the Property.Lender,Trustee and the receiver shall be liable to � . ;; . .�: �} "=
<br /> acxount onty for thase rents ac.tually received. ' �'';" �
<br /> • 11.Events of Defaul�The tollowing shall constitute an Event of Default under this Deed of Trust `"9"�" .. `#
<br /> • • (a)Failure to a an instaltment oi rinci 3I or interest or an other sum secured hereb when due; '4' "- ` � �-'
<br /> P Y Y P P Y Y -:-�.s•�r-• . �.
<br /> (b)A breach of or defauft under any provfsion contained in the�lote,this Deed of Trust,any of the Loan Instruments,ar any ,'��' 4•� wp�
<br /> other lien or encumbrance upon the Property; . - ,'�:��+� .���
<br /> (c)A writ of executlon or attachment or any similar process shall be entered against Trustor which shall become a lian on ��-�`�
<br /> the Property or any porUon thereot or interest thereln; `r~ �.a•==
<br /> (d)There shatl be filed by or against Trustor or Borrower an action urtder any present or future tederal,state or other statute, ��' �
<br /> faw or rsgulatian relaUng ta bankrupiayr,lnsolvancy or aah�r reli9t tor dabicrs:or there shell be appolnied eny huatee,receiver or _ ----
<br /> � ,, � q uidator of Trustor or Bor.awer or of all or an aR of tha Property,or the rents,issues ar rofits thereof,or Trustor or Borrower .�� ,o,. . �� �_-
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<br /> �. ''' shall make any generat assignment for the banefit oi cxeditors; � -�` �''
<br /> (e)The sa!e,transfer,lease,assignment,conveyance or fu�ther encumbrance ot atl or any paR oi or any intere�t In the `'�.`�.--_
<br /> : Property,e'rtt�er voluntarily or involuntarily,without the exprass written consent of Lendar,provlded that Trustor shall be permlt- �''�^�'--
<br />. �� ted to execute a lease of the Property that does not contain an opUon to purchase and the term oi whlch does noi exceed one , �',�'��'`t>,_ ••"'`
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<br /> � (�Abandonment oi the Property;or �' "' -_ -
<br /> , (g)If Trustor is not an individu3l,the issuance,sale.Vansfer,assignment,conveyance or encumbrance of more than (if a . �-��r','
<br />� �' corporatiom�a total oi percent of its issued and outstanding stock,or(if a paRnership)a total oi per- , • - � �
<br /> '' cent of par�:srship interests,or(ii a limited Uability company)a total of peroent oi the 19mited liability wmpa- . ,,,,-� � - � � '
<br /> ny intsrests or voting rights during the periad this Daed oi Trust remains a lien on tho propeRy. -.. .- �• �.• F '
<br /> 12.Remedles;Acceterattan Upon DefautL In the event of any Event of Qefault Lender may,without notice except as required ' .'
<br /> � by law,dedare all indebtedness secured hereby to be due and payabte and the same shatt thereupon become duo and payable wlth- . •_;
<br /> out any presenUnent,demand,protest or notice o!any kind.Thareafter Lender may: � �-
<br /> (a)Oemand that Trustee exercise tt�POWER OF SALE granted herein,and Trustee shatl thereafter cause Trustors Inter- ._ •. ...
<br /> est in the Property ta be sold and the prc�ceeds to 6e disUibuted,all in the manner provlded in the N�braska Trust Deeds AG: �<• . ��
<br /> (b)Exerclse any and all rights provided for in eny ot the Loan Instruments or by law upon occurrenco of any Eve�t of � a�
<br /> Default;and '
<br /> � (c)Commence an action to foreclose this Deed of Trust as a mortgage,appoint a receiver,or speciflcally enforce any of lhe ' '
<br /> covenants hereoL • • �'
<br /> No remedy herein conferted upon or reserved!o Trustee or Lender is intended to be exctusive oi any other remedy herein,in the Loan „
<br /> • Instrr�ments or by:�•ri provided or permitted,b�'t 2ach shall be cumutaUve,shall be in addition to every other remedy given hereunder, ..
<br /> In the Loan Instruments or now or hereafter existing at law or in equity or by statute,and may be exercised eoncurtently,independenlly � . �.-�
<br /> or sucCesively. . . . .
<br /> 13.Trustee.The Ttustee may resign at any time without cause,and Lender may at any time and without cause appoint a suc- �
<br /> cessor or substitute Trustee.Trustea shall not be Ifable to any party,inGuding wlthout limitation Lender,Borrower,Trustor or any pur- • . � ��
<br /> chaser ot the Property,for any loss or damage untess due to reckless or willful misconduct,and shall not be required to take any action � • � . '
<br /> . in connecNon with the ertforcement of this Deed of Trust untess indemnifled,in wri6ng,tor alt costs,compensatlon or expenses which •
<br />. may be associated therev�ith.In addition,Trustee may become a purchaser at any sate ot the Property QudiGal or under the power of ' �. �-�
<br /> sale granted herein);postpone the sa[e of aIl or any portion of tha Rroperty,as provlded by Iaw;or sel�the Property as a who�a, or in '
<br /> � sepatate parcets or lots at Trustee's disaetlon. . �=�
<br /> 14.Fees and Expenses.In the event Trustee setls the Property by exercise ot power of sate,Tnistee shall be eniitled to aDD�Y • �
<br /> any sale proceeds first to payment of all costs and expenses of exercising power oi sale,including all Trustee s fees,and Lenders and I . �`
<br /> Trustee's attomey's fees, actually lncurred to extent pem+itted by appUcabte law. !n tha event Borrower or Trustor exercises any nght 1 �,.:-.
<br />• provlded by law to cure an Event of Detault,Lender sha11 be entitled to recovet from Trustor all costs and expenses actualty incurred as � .
<br /> � a result ot Trustor's default,including wilhout limitation att 7rustee's and attomey�s tees,to the extent partnitted by applicabte lav�. � ' -
<br /> --- 75. fitliii3�73ii�.^..U�n rr.�u..^�of 9orm:r�s,Lan�r rnay,aY iis apflaa.maP.s adrllliona!and ful:ss�ad�rarices ar.Q raad- - -.- ,------ -
<br /> . vances to 8orrower.Such advances and readvances,with interest thereon,shall be secured by this Deed of Trust.At no time shaU tho � _ -
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