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<br /> 'Proceeds7 in conrtQCtion with condemnaUon or other taking of the Proparty or part thereof,or tor conveyance in lieu of oondemnation. . . � �
<br />• �. Lender shati be enUUed at its option to comrnence,appear in and prosecute in its own name any action or proceedings,and shall atr� • � . _
<br /> . = be entitled to make any compromise ar setUement in wnnection with such taking or damage.In the event any poRion ot the Properry is ; _ -_
<br /> so taken or damaged. Lender shali have the option in iLs sote artd absoiute discretion, to apply s11 such proce�ads, after deduciing t •t�
<br /> thereirom all oosts and expenses ia�currad by it in conneciion vrith such Proceeds,upon any indebiednass secured here�y and in such . '�` ��
<br /> , order as Lender may determine,or to apply all such Proceeds,after such deductions,to the restora tlon of t he Prope r ty upon such�n-
<br /> <i ditions as Lerxlar may detertnine.Any appiipUon of Proceeds to indebtednass shatl not extend or postpane tha due date ot any pay- �, -
<br /> ments urtder the Note,or cure any dotault thereunder or hareunder.My unapplied funds shall be paid to Trustor. ,
<br /> 8. Per[ormance by Lendar. Upon the oaxurence cf an Event of Default hereunder,or if any act is taken or tegal proceeding . -
<br /> commenced which materially aflects Lender's interest in tfie Property.lender may in its own discretIon,but without obtigation to do so, . __ _
<br />- and without notice to or demand upon Trustor an,�withaut releasing Tru�tor from any obligatlon,do any act which Trustor has agreed
<br /> - but failed to do and may al�o do any other act it deems necessary to protect tha security hereof.Trustor shall, immediateiy upon . . _
<br /> � demand therefar by Lender,pay to Lender aN costs and expanses incurred and sums expendsd by Lender in connection with the exer- _ _ ____ ____,
<br /> cise by Lender of the foregoing righis,together with interesi thereon at the defauft rate provided in ths Note,which shal!be added to -
<br /> the indebtedness secured hereby.Lender shall not in�r any liability because of anything it may do or omit W do hereunder. ✓ �
<br /> �� • 9. Haiardous MatarYa(s.Trustor shall keep the Property in compliance with all applicable lavrs, ordinances and regulations ; _ -
<br /> '• �
<br /> . relating to industrial hygiene or environmental protection(coltectively referred ta herein as'Envlronmental Laws'�.TnisWr shall keep � , A _ --
<br /> the Property free from al!substar�ces deemed to be hazardous or toxic under any En�ironmen�at Laws(collec6vely referred to herein _____
<br />' as'Harardous Materials'.Trustor hereby warranls and represents to Lender that there are no Hazardous Materials on ar under the • , -�"_�
<br /> • Property.Trustor hereby agrees to indemnify and hold harmless Lender,iLs directors,officers,employees and agents,and any succES- , .�,LL'=�_.:_
<br /> sors to Lenders interest,from and against any and all daims,damages,Iosses and liabiti6es arising in connection with the presence, ;,.,:,_;`�^�`'
<br /> use,disposal or transport of any Hazardous Materials on,under,irom or about the Property-THE FOREGOING WARRANTIES AND . . � .:,�=_,
<br /> REPRESENTATIONS. AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE , _
<br /> . `' RECONVEYANCE OF THIS DEED OF TRUST. - �`"��
<br /> • 10.Asstgnment of ReMs.Trustor hereby assigns to Lender,and grants Lender a security interest in,all present future and ,��
<br /> ,, .x
<br /> after arisin rents,issuas and roftLs of the Property:provided that Trustor sha'I,until the occurrenoe of an Eveni of pefault,hereunder. �, K, ��;
<br /> have the right to coltect and retain such rents,issues and profits as they be�m2 due and payable.llpon the occurrence of an Event of -� ',��_,�
<br /> •: �" Qefault,Lender may,eithar in person or by agen�wiih or without bringing any acdon or proceeding,or by a receiver appointed by a ,. -. . .
<br />� oouR and without regard to the adaquacy of its securtty,enter upon and take possession of the Property,or any part thereof,in its own ' � ' "�� � i�-�
<br /> name or in the rrame of the Trust2a,and do any acts vrhich it dsems necessary or desitable to pressrve tfie value,maTfcetabiiity or ""�F'�'='�''�;a�-<
<br /> rentability of the Prop2rty,or any part thereof or interest therein,or to increase the income therefrom or proted the security hereof and, "`��Y -
<br /> • with or without taking posses.sion of the Property,sue for or otherv�ise collec�the rents,issues and profits thereof,induding those past 's�"�': �;..
<br /> `'�' due and unpaid,by notifjriru3 tenants to make payments to Lendec Lender msy apply rents,issues and profib.less cosls and expens- • �..4,,..�;;�1;�- � =
<br /> es of operaUon and cottecUon induding attomay's fees,to any indebtedness secured hereby,alt in such order as Lender may deter- � � s-
<br /> mine.The entering upon and taking possession of the Property,the cotlection of such rents,issues and profits,and tfis applipGon ., � -��"'.;;�;I� ,'I�
<br /> thereof as afores�id shall nat cure or wahre any default or no�lce of defautt hereunder or invalidate any aa done in response to such '�+! '� •. ; b;
<br /> default or pursuant to such notica of default and, notwithstarr�ing the continuance in possession of the prope�ly or tha collection, '���� �' '� �_
<br /> recetpt and appli�abon of rents,issues or profits,Trustee and Lender sha11 be entiUed to exerdse every Rght provided for in any of the �:�:� :''!.,' -
<br /> :�.�"`'. '.�.: �
<br /> Loan Instruments ar by law upon occurcence ot any Event of Default,including withaut Ilmitatlon the righi to exercise the power of sate. �,_. . • -
<br /> Further,Lenders rights and remediss under this paragraph shatl be cumulative with,and in no way a Gmitation on,Lendefs rights and n�"'.s; '
<br /> . remedies under any assignment of leases and rents recoMed against the Properry.Lender,Trustee and the receiver shall be Iiable to .� ���,;.� � ,._
<br /> .. accnunt only for those renfs actually rer.elved. �; � �`_._
<br /> 11.Ewerrta oi DefaulL The following shafl consti�te an Event of Deiault under this Deed of Trust:
<br /> ' a Failure to pay any installment of principal or interest or any�ther sum secured hereby whan due; �� '�
<br /> � � ���.,. F , -.
<br /> ,_ (b)A breach of or default under any proviston contained in the Nota,thts Deed of Trus�any of the Loan Instruments,ot any , - „��t�f• ,.. �
<br /> � other lien or encumbrance upon the PropeRy; �� � ='��
<br />� (c)A writ of executlon or attachment or any similar process shall be entered against Trustor which shatt become a tien on �„
<br /> ' the Property or any partion thereof or interest thereln; _'��___ a�
<br /> ,u;'.�=-=_-
<br /> � � (�There shal!be filed by or against Trustor or BoROwer an action under any present or future federal,state or other shatute, E ,
<br /> law or regutaUon wlating to bankruptayr,insolvency or other rellei for debtors:or there shatt be appointed any trustee,recelver or ---- --------
<br /> liqu(daWr ot 7rustor or Borrower or of all or any part oi the Property,or the rents,Issues or profits thereof,or Trustor or Borrower �=Y'�'°�+�'-"'�'.!!��
<br /> shall make any general assignment for the benefd of cred'rtors; ��- � ' `
<br />, (e)The sata,transfer, tease,assignment,conveyance or further encumbrance of all or any paR of or any interest In thA ���'_
<br /> Property,either voluntarity or Involuntadty,wlthout the express written consent oi Lender,provlded that Tmstor`,tiall be petmit- :.;;Sr Y:z:__-
<br /> . ted to execute a leass of ths RropeRy th3t does not contain an optlon to purchase and the tertn oi whlch daes not exoeed one '":'�'��;.,r.,,'�"*-' -
<br /> � year, -�
<br /> _ (�Abandanment oi the Property:or -� '� _
<br /> (g)If Trustor is not an individual,the issuance,sa33,transfer,asslgnment,conveyance or encumbrance of more than(ii a ��-
<br /> oorporaUon)a total of percent of(ts issued and outstanding stock,or(if a partne�ship)a total of per- ���'f' �•
<br /> • cent oi paKaershlp Interesis,or(if a tlmited Ilabllity company)a totel of percent of the Uroited Iiability oompa- �y��.. ��
<br /> ny:nterests cr voUng rights during the pedod thls Oeed of Tnist remains a 11en on the property. :��a��j,;_ .� '=��••
<br /> .,..,,.,;.
<br /> • 12.Reme6,:�;AceeteraUon Upon Default In the event oi arry Ev2r,t of Oefautt Lender may,wiil�aut noUce except as requir�d :.:��-x.,.�,.;.;��? •
<br /> . by law,dectare al!indebtedness secured hereby to be due and payable and the same shall thereupon bewme due and payabte wi�- � i•.• • , —
<br /> . .•�r: �•.•.•..
<br /> out any presentment,6emand,protest or noUce oi any kind.Thereafter Lender may: �'r'�"-'^��-.•:r�,-�
<br /> (a)�emand that Trustee exerclse the POWER OF SALE granted heretn,and Trustee shall thereafter cause Trusto�'s inter- �� -- �• ••=`_
<br /> � est In the Property to be sotd and the prooeeds to be disUibuted,all In the manner provided in the Nebraska Tnrst Deeds Act; ' ,
<br /> (b)Exerclse any and all dghta provided for in any oi the Loan Instruments or by law uQmn occunence oi any Event ot • •
<br /> Detauft;and �
<br /> � (c)Commence an acUon W forectose lhis Deed of Trust as a mortgage,appoint a receiver,or speciflcalty enforee any oi the � . ' � � - �--
<br /> covanants hereot • ' �
<br /> No remedy herein conferred upon or reserved to Trustee or Lsnder is intended to be exclusive of any other remedy herzin,in the Loan : ' �
<br /> Instruments or by law provided or pertnitted,but each shall be cumula8ve,shall be in adCiUon to every other remedy given hereunder, . ,
<br /> in the Loan Instruments or now or hereafter exlsUng at law ar in equiiy or by statute,and may be exerclsed concurrently,independenUy •
<br /> � 0�SUCCBSIVAIjI. . � . ' .
<br /> � 13.Trustee.The Trustee may resign at any time wlthout cause,and Lender may at any Ume and without cause appoint a suo-
<br /> � cessor or substitute Trustee.Trustee shall not be Ilable tu any pariy,Including wlthout IlmltaUon Lendar.Borrower,Trustor or any pur- � �v
<br /> � chaser of the Properiy.tor any Ioss or damage unless due to reck'ess or willful mtsconduct,and shall not be requlred to iske any acUon • � �=°-_
<br /> in connecUon with the onforcement ot this Oeed of Trust untess indemn'�'+ed,in wriUng,for ali costs,compensaUon or expenses which �
<br /> may be assoclated therewith.In addiUon,Trustee may become a purchaser at any sale oi the Property Qudiclal or under the power oi • �.�
<br /> � sate granted herein):postpone the sate of all or any portlon of the Property,as provided by law;or sell the Property as a whote,or in ; �-:
<br /> separate parcets or lots at Tnistee's dlscreUon. '
<br /> 14.F�es and Expenses.In the event Trustee selts the Property by exerGse oi power of sale.Trustee shall be entiUe�to appty .• ,
<br /> eny sate prooeeds flrst to payment of aIl costs and expenses ot exercising power of sale,inctuding all Trustee's fees,and Lenders and .
<br /> Trustee's attomey/s faes, actually incurred to extent pertr�itted by applicable law. In the evant Borrower ot Trustor exercises any�2ght � � '
<br /> provlded by law to cure an Event of Oetault,Lender shalt be entitlod to recover from Trustor all costs and expanses actually incurred as • ��
<br /> a rosult oi Trustofs detault,including without IlmifaUon all Trustee's and attomey's fees,to Ihe extent permitted by applicabte law. �
<br />• 15.Futuro Advances.Upon request ot Borrov�er,Lender may,at its optton, make additional and future advances and read-
<br /> - -vances to Botrower.Sucn advances and resdvances,with irtterest inereon,si�at{i,e secured Dy ti�fs Deed ot Trust.At ra tirna shat!!ho - - - --_
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