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<br /> 97- g��:�.� ,- ; - . � -
<br /> � ot condemnation. . � � . �
<br /> 'Proceeds�in connedwn with condemnauon or othar taking of the Property or part thereoi,or for conveyance in lieu ,��:,
<br /> � Lender shatl be entitled at its option to commenca,appear in and prosecute in its own name any action or proceedings,and shal!also .. , , ,,_
<br /> be erttiUeQ to make any comprom�se or settlement in connect�on with such taking or damage.�n tha event any porton of tha Property�s • `�
<br /> ' so taken or damagad. Lender shali have the optlon in its sole and absotute discretion,to appty all such proceeds, after deducting ,�`.-.
<br /> tharefrom all cosis and expenses incurted by it in connection with such Proceeds.upon any indabtedness secured hereby and in such �.- �:
<br /> t order as Lendar may determina,or to apply all such Proceeds,aftet such deductions,to the restnration of the Property upon such mrr ,
<br />` ditions as Lender may detertnine.Any applicatlon of Proceeds to indebtedrtess shall not extend or postpone ti�e due date of any pay- _
<br /> '. ments under the Note.or cure any default thereunder or hereunder.Any unappiied tunds sha116e paid to Trustor. , �
<br /> 8. Performance by Lende�.Upon the occurrence of an Event of Oetauft hereunder, or if any act is taken or legal proceedmg _
<br /> . commencad which materiaily affects Lende�s interest in the Propetty.Lender may in its o�vn discretion,but without obligation to do so, :
<br /> , and uvithout notice to or demand upon Trustor and without releasing Trustor from any ebligation,do any ad which 7rustor has agreed
<br />"�' , but faited to do and may atso do any other act it deems necessary to protect the security hereof.Trustor shall, immediately upon �' � � `
<br /> � � Qemand therefor by Lender,pay to Lender aII casts and expenses incurred and sums expertded by Lender in cannection with the exer- � - -- . -
<br /> cise by Lender of the foregoing rights,togethar with interest thereon at the default rate pmvided in the Note,which shall be added to � , �
<br /> • the indebtedness secured hereby.Lender shall not incur any Iiabiliry becausa of anything it may do or omit to do hereunder. ,
<br /> • 9.Hazardous Matertats.TrusLor shall keep the Property in compliance with all applicabte laws, ordinances and regutations � �
<br /> � relating to industrial hygiene or environmental protection(cotledlvery referred co herein as'Environmental Laws�. Trustor shall keep • ` �_ : .
<br /> � 4he Property tree irom alt substances deemed to be ha�rrtous or toxic under any Environmenhal Laws(collectivety referred to herein , ,
<br /> '�` as'Hazardous Materiats�.Trustor hereby warranis and represents to Lender that there are no Hazardous Materiats on or under the
<br /> � Proper!y.Trustor hereby agrees to indemnify and hold harmtess Lender,its directors,officers,employees and agents,and any succes- ; :. r�''{
<br /> . sors to Lenders inierest,from and against any and alt Gaims,daanages,losses and liabilities arising in connection with ths presence. "�.�t�_-..:
<br /> use,disposal or transport of any Hazardo�s Materiats on,under,irom or about the Propariy.THE FOREGOING WARRANTIES AND , .. s .
<br /> ' REPRESENTATIONS, AND TRUSTOR'S OBUGATIONS PURSIlANT TO THE FOREGOING INDEMNITY, SHA�L SURVIVE �°��:.
<br /> � RECOM/EYANCE OF THIS DEEQ OF TRUST. ' �� •�-'"
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<br /> 10.Assfgoment of Rents.Trustor hereby assigns to Lenda.�,and grants Lender a securfly interest in,alt presant,future and � t. �. -
<br /> t. after arising rents,issues and profits of Ihe Property;p�ovided that Trustor shall,un61 the occurrence of an Event of Oefault,hareunder. ?�,��:t'•�_--
<br /> have the rtght to collect and reta(n such rents,issues anQ profiTs as they become due and payable.Upon the occurrence of an Event ot ��, _ . `
<br /> qefauit,Lender may,either in person or by agent with ar withQUt bringing any action or proceeding,or by a receivar appointed by a • �,f�� '�+}'�-
<br /> court and without regard to the adequacy of its security,enta�upon and take possession of the Property,or any part thereof,in its own - .`'"�-'�:�
<br /> `�.. < name or in the name of the Trustee, and do any acts which it deems necessary or desirable to preserve the valus,marketability or . �ir-
<br />. renta�aP.ity of the Property,or any paR thereof or irC�zst therein.ar to increase the income therefrom or pro:��t the securiry hereof and,
<br /> e sue for or o�:2�sise coltect the rents,issues and profits thereof,inclu�ng those past , ���'J��
<br /> with cr a�hout taking possession of the Prop rty.
<br /> due and unpaid,by notifying tenants to make payments to Lender.Lender may appty rents,issues and profits,less casKS and expens- � � �„?.�6;!� ! :
<br /> r,
<br /> � � es of operation and ccllection induding attome�s fees,to any indebtedrtess secured hereby,aU in such order as Lender may deter- __.• y i
<br /> mine. The entering u�n and taking possession of the PropeRy,the coltection of such rents,issues and profits,a:�d the applicatlon � : �•� �
<br /> . thereof as aforesaid s^atl not cure or waive any default or notice of default hereunder or invalidate any act done in response to such -.�{_�, � � .
<br /> • defau!t or pursuant to such no6ce of default and, notwithstanding the contlnuance in possession of the properly or Uie collection, ,.,:., ���;�
<br /> receis�2�d applipUon of rents,issues or profits.Trustee and Lender shalt hs entlUed W exe;�se every�ight provtded for in any of the • '' �� "•
<br /> Loare 7-�umertLs or by Iaw upon occurtence of any Event of O�:Galt,induding wlthout limitatio�the Nght to exereise!he pawet of sale. �,`.a'�'i-` .. �j� .
<br /> �� Further,Lenders rights and remedies under this paragraph sha11 be cumulative with,and in na wray a limitation on,Lendefs rights and ,i�� S�'".•'
<br /> Lender Trusiee and the rece i v e r s h a l l b e l i a b t e t o '°�+�•1}} .
<br /> '�` remedies under any assignment of leases and re�-��recorded against the Properly. .
<br /> '`� accountontyforthoserentsactualtyreceived• ?;�� •
<br /> . 11.Events of DefaulL The foflowing shall constitute an Eveni of OeTault under this Oeed of Trust , _,;�. �.• _
<br /> �• (a)Failure 4o pay any installment of principal or interest or any other sum secured hereby when due; 'f ��..:-: W{, ' _
<br /> �' (b)A breach oi or default under any provlsion contalned in the Note,this Deed of Trust,any o f t he L oan In s t r umen t s,or any :., , +��••�.T-
<br /> � .
<br /> other Ilen or encumbrance upon the Property: �'�;"��"°�''�
<br /> �'~� (c)A wr+t of exeeuUon or attachment or any similar process snalf oe entered against 1 rustot wni�i��irdri u6iXiiiln d ile3Ti q1 .� :' :•e>-"'
<br /> ' � the Property or any portlon thereof or interest thereln; ..` -
<br /> (d)Thsre sfiall ba filed b�,�or agalnst Trustor or Borrower an adion under any present or future federal,state or other statute, 'Y
<br /> law or regutaUon relating to bankruptcy,insolvency or othsr reQef tor debtors;or there aha�l be appointed any tn!stee,recetver or `�-,�i
<br /> � Iiquldator of Trustor or Borrower or of ell or any par4 of tha Property,or the rents,(ssues or profits thereof,or Trus:�r or BoROwer
<br /> c��-
<br />' shalt make any general assfgnment for the benefit o!aeditors; � t,�
<br /> (e)The sale,transfer,lease,asslgnment,conveyance or further encumbranoe of all or any paR of or any interest in the ���:..
<br /> " ��'.! Property,either voluntarlly or invaluntarityr,without the express wdtten consent of Lender,provided that Trustor shall be permit- ���:_:-- -
<br /> ted to execute a lease ot the PropeRy that does not oon�ain an opUon to purchase and the tertn ot which does not exceed one '�'
<br /> � year, C-"-�`�:
<br />� (�Abandonment oithe Property;or � -• -- �
<br /> (g)If Trustor Is not an indivldual,the Issuance,sale,Vansfet,assignmen�conveyance or encumbrance oT more than(if a �'"�r-�� ''�_.•
<br /> .� oorporatlon)a total oi percent oi its issued and outst�ed:ng stock,or(it a partnership)a total oi per-
<br /> � cent of par�ershlp interests,or(if a limi2ed liab(liry company)a total of percent of the limited Ilability compa- - -,
<br /> ny interests or vo�ng rlghts dudng the period fhis Deed c5 Trust remains a lien on th�property. ..;,'. � �-• ;.-� °
<br /> • t2.Remedies;Acceteretton Upon De9aul�tn the eveni of any Event of Default Lerder may,wlthout noUoe exoc�!as requirsd •.�,;:��',.:��=��_�� ._
<br /> by law,declare all indebtedness secured hereby to be due and payabte and the same shatf thereupon beoome due and payabte wlth- , �
<br /> out any presentment,demand,protest or notice of any k1nd.Thereafter Lender may: .. .�:�: .:..
<br /> , ::' (a)Demand that Trustee exerGse the POWER OF SALE granted hereln,and Trustee shall thereafter cause TrustoPs inter- ;_ �
<br /> est in the Property to be sold and the proceeda to be disUibuted,aII in the manner provided in the Nebrflska Tnut DeeQs Ack • ..
<br /> � (b)Exerdse any and a!f rlghts provlded for in any of the Loan Instruments or by law upon occurrence of any Event oi . . : .,
<br /> � DefaulC and
<br /> (c)Commence an ac�tion to foreGose this Oeed oi Trust as a mortgage,a�poin4 a receiver,or speciftcalty anforoe any oi the • . ��`�
<br /> covenants hereoL �
<br />� No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy hereln,in th9 Loan � . �
<br /> ' Instruments or by law provlded or permitted,but each shall be cumulaUve,shall be in additlon to evary other remedy glven hereunder, • .
<br /> ln the Loan la�struments or now or hereafter exisUng at law or in equity or by atatute,and may be exercised concurrently,IndependenUy :
<br /> ' or succesively. . � . .
<br /> ' 13.Ynistee.The Trustee may resign at any Ume w(thout cause,and Lender may at any Ume and without cause appoint a su� .
<br /> � cessor or subsUtute Trustee.Trustee shall not be Ilable to any party,inGuding wlthout flmltation Lender,Borrower,Trusror or any pur-
<br /> chaser ot the Property,tor any bss or damage untess due to reckless or wiltiuf misconduct,and shall not be required tfl take any acGon . •
<br /> in connection witb the enforcement ot this Deed of Trust unless lndemnified,in writing,for all costs,compensation or expenses which . .
<br /> may be associated therewith.In addiUon,Trustee may become a purchaser at any sale oi the Property(judictal or under the power ot � •. '
<br /> �. sale granted heroln):postpone the sale of all or any pordon of the Prope�ty,as provided by Iaw;or sell the Properiy as a whole,or in � E�'
<br /> . separate parcels or lots at Trustee's discreUon. •
<br /> • 14.Fees and Expensas.ln the event Trustee setls the Property Dy exe�ise of power of sate,Trustee shatl be errtitled to apply '
<br /> � � any sale proceeds first to payment o!alI costs and expenses oi exercising power ot sale,including all Trustea's tees,and Lender's and _
<br /> Trusiee's attome�s fees. actually incurred to extent permitted by appliqble law.In the event Borrowar or Trustor exercises any right �.
<br /> provided by law to cure an Event ot Defautt.Lender shall be entitted to recover from Trustor all costs and expenses actuatty incurred as ,
<br /> ' a result of Trustofs default,including without IlmiteUon alt Trustee's and attomey's fees,to the extent pertnitted by applicable law. i .
<br /> . _ 15. �atuss A�!�t�nC99_UpOT!►equ95t Of BOrrowBr.1_ender may,at its option.make additlonal and tuture advanoes and read- �
<br /> • vances to Bortower.Such advances and readvances,vrith interest thereon,shall be secured by this Deed oi Trust.At no time shall the -
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