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<br /> •Proceeds')in connection rvith condemnation or other taking of tha Property or pad thereof,or for conveyance��ieu of condemnation. �, . _
<br /> � LenCer shaU be entitled at its option to commence,appear in and prosecute in its own name any action or proceeGings,and s�a11 aiso . � . _
<br /> be entiUed to make any compromise or setdsment m connection with such taking or damage.In the event any portion o(the PropeRy is , ° . .. -
<br /> so taken or damaged, Lender sl�all have the option in its sole and absolute discretion, to apply afl such proceeds, after deducting _ :
<br /> � tfiarefrom all oosts and expenses incurred by it in oonnection�rlth such Proceeds.upon any indebtednsss secured h$reby and in sucti . _
<br /> order as Lender may detertnine,or to apply all such Proceeds,after such daductions,to the restoration oi the Property upan sach oon- .; ., .
<br /> � ditions as Lender may detertnine.My apptiqtion of Proceeds to indebtedness sha�l not extend or postpone the due date of any Pay- �
<br /> • merts under the Note,or cure any default thereunder or hereunder.My unapplied funds shall be paid to Tnistor. . •
<br /> 8.Pevformance by Lender. Upon the occurrence of an Event of Defauli hereunder,or if any ad is take�ar fegel proceeding ' � ,
<br /> � commenced which materialiy affects Lender's interest in the Property.Lender may in its own discretion,but without obligation to da sa. .. •
<br /> ` and without nofice to or demand upon Trustor and without releasing T�r from any obligation,do any act which Trustor has agrsed �
<br /> but failed to do ard may also do any other ad i!deems necessary to proteci the security hereof. Trustor shall, immediately upon - . �
<br /> demand therefor by Lender,pay to Lender alt costs and expensas incurred ar+d sums expended by Lender in conrsedion erith the exer- — __ __ �_� �.� .
<br /> ase by Lender of the foregoing rights,together witfi interest thereon at the default rate provided in the Note,which shall be added ta . -
<br /> the indebtedness secured hereby.Lender shall not incur any liability because of anything it may do or omit to do hereunder.
<br /> • 9.iiarardous Matertals.Trustor shali keep the Property in compliance witl�►all applipble Iaws,ordinances and regulaGons � , .. ..... _
<br /> nelating to indusUial hygiene or environmental proteetion(coltactively referred to herein as'Environmental Lav�s�.Trustor shall keep . _ ;
<br /> the Property free trom all substances deemed fo be ha�rdous or to�oc under any Environmental Laws(oollectivety referred to herein � ,` ��
<br /> as'HazaMous Materiats7.Trustor hereby warrants and represenis to Lender that thare are no Ha�ardous Materials on or under fhe .. . ` =�zf�""
<br /> .. ` Properiy.Trustor hereby agrees to i�demnify and hotd hartntess lender,its directars,officers,emptoyees and agents,and any sucxes- , _�-
<br /> sors to Len�et's interest.from and against any and alt daims,damages,losses and liabilities arising in connedion v�iih the presence. � � '��i�#=�=
<br /> use,disposal or transport of any Hazardous Materials on,under,from or about the Property.THE FOREGOING WARRANTIES AND • =-='� ���
<br /> •� REPRESENTATIO(�1S.AND TRUSTOR'S OBUGATIQNS PURSUANT TO THE FOREGOING INDEh1NITY, SMALL SURVIVE • . ��„�"��.�:-'
<br /> s RECOM/EYANCE OF TtitS OEED OF TRUST. . •`.���`�;=' "
<br /> 1p.AssignmeM of Rertts.Tn�swr hereby assigns to Lender,and grartts Leader a security i�terest in,all present,future and :�ti..,���;,_
<br /> after arising rents,issues and profrts of the Property;pro+rided that Trustor shatl,unti!the occurrence af an Event of Oefaul�hereunder. ::�b••,-'—
<br /> have the right to collect and retain such rents,issues and profiLs as they become due and payable.Upon the occurrence of an EvEnt of . •;,;;�,..„�r�y. .
<br /> Qefau[t,Lender may,either in person or by agent,wfth or without bringing any actinn or proceeding,or by a receiver appointed by a � 'f
<br /> court and without regard to the ad ua of its securi enter u on and bke possession of the Pro rty,or an art thereof,in its own � . � ���'_�
<br /> �4 �Y tY. P Pe Y P , _` �' ._.
<br /> nam e o r i n t h e n a m e o f t h e T r u s t e e,a n d d o an y acts which it deems necessa ry or desirabte to preserve the vatue.marketabit'ity or �����-�
<br /> .�-• rentabllity of tha Propeiiy,or any part thereof or interest thereln,or to increase thz income ther+efrom or proted the security hereoi and, _ ', ` �: '
<br /> ��•
<br /> with or wfthout taking possession of tha Property,sue for or otherwise caltect the rents,issues and prafiis thereof,including those past
<br /> due and unpaid,by noWying tenants to make payments to Lender.Lender may appiy rents,issues and profiTs,less costs and eRpens- • � ,��'�.:
<br /> ' es ot operation and coltection inGuding attomey's fees,to any indebtedness secured hareby,all in such order as Lender may deter- � •
<br /> mine.l'he entedng upon and taking possassion of the Property,the coltecGon of such rents, issues and profits,and the apptication • � :� - .�';� ?°
<br />. thereof as aforesaid shall not cuPe or waivo any default or no6ce of default hereunder or invaltdate any act done in rasponse to such '-'`>�-- � �
<br /> default or pursuant to such notice of detauit and, nohvithstanding the continuance in possession of the property or the cotlection, '' : ,�'
<br /> receipt and applicaGon of rents,issues or profits,Tnistee and Lender shall be entiUed to exercise every right pmvlded for in any of the "<i ��
<br /> Loan Instruments or by law upon occurrence of any Event of Oefault,inGuding without limitation the right to exercise the pawer oi sate. ���.�� j; �•�; '.
<br /> Further,Lenders dghb and remsdies under this paragraph shall be cumulaUve vrith,and in no way a limitation on,Lende�s rights and ?�,��`. :� ?'�
<br /> • remedies under any ass+gnment of Ieases and rents recorded against the Property. Lender,Trustee and the receiver sha(I 6e liable to • '`�•. � '�� �
<br /> account only for those rents actually received. ' � .��
<br /> 11.Evards of Oefautt The fotlowing shall constitute an Event of Default under this Deed ot Tntst � ,,.,�a"'' �".yr i�
<br /> (a)Faiture to pay any insiatlment of prfndpal or interest or any other sum secured hereby when due; ' ;:; �`� .
<br /> (b)A breach of or default under any provision conteined in the Note,th(s Oeed of Trust,any ot the Loan Instruments,or any '`�`} _.°;:__
<br /> other lien or encumbranoe upon the Property: _ .._ •• - w
<br /> •- (c)A writ of executIon or at4achment or any slmilar prooess shall ba entered against TrusWr which shail become a fieA on � �=�w�-:. `��=
<br /> the Property or any portion thereof or interest therein; '�
<br /> b or alnst Trustor or Borrower an adion under an resent or future federal.state or other statute, �����
<br /> (�There shall be filed y ag Y P '•y��-y�—
<br /> law or regulalton relating to bankruptcy,insolvency or other relief for debtnrs:or there shall be eppointed any trustee,reee�ver or ;�:,,�.1'���
<br /> fiqufdator oi Trustor or Borcowar or of all or any part of the Proper4y,or the rents,iss�es or profits thereof,or Trustor or Borrower �a�e¢�°,�.�; ,
<br /> shall make arry general assignment for the benefit ot cred"Rors: _:���j�
<br /> �,�an�.,
<br />• (e)The s21e,transfer, lease,assignment,oonveyance or further encumbrance of all ot any paR oi or any(nterest In fhe -��_ --
<br /> � � Property,either vafuntarily or irnoluntaaly,without the e�ress wrlften consent of Lender,proviQed that Trustor sha0 be permit- '-��"'- .-�
<br /> , •I fsd to execufe a lease of tha Property that does not contzin an opUon to purchase and the term of whlch does noi exceed one .;_�" �-i-�.
<br /> year,
<br /> ,; � (�Abandonment of the Property:or ���` �'
<br /> , ' (g)If Trusfor is not an indlviduaf,the issuanoe,sale,hansfer,asstgnment,conveyance or encur�nbrance of more than('d e ,.. „�,,�,,,-,
<br /> • carporadon)a total of perceni of its issued and outstandtng stock,or(H a partriership)a totel oi per- ,,._ .,,_�'��
<br />. � � cent oi partne�ship Interests.or p1 a lim(ted liability company)a total ot percent of the limited Bability compa- j���"���
<br /> •..< ny interests or voGng dgh2s during the period thls Deed of Trust remains a Oen on the propeRy_ y�;�,,,.;_a.., . •,�, •
<br /> , 12.Remadies;AccelsraUar�Upon Osfauti In!he event ot any Event of Defautt Lendsr may,wlthout notice except as requlred �.���:r�''r.r-�;�;;s�4•.: -
<br /> , ' by Iaw,declare atl indebtedness sscured hereby to be dua and payabte and the same shatl thereupon become due and payable wtkf} ::��.•;.-,: .
<br /> out an resentrnen�demand, rotest or noUce ot an kind.Thereafter Lender ma • ,.:�.,��' �:':
<br /> YP P Y Y• -,��_ �.--:�,::
<br /> (a)Demand that Trustee exerGse the POWER OF SALE granted hereln,and Trustee shall thereafter cause Ttustofs Inter- ---. _w�a�., -,;,.
<br /> est in the Property to be sold and the proceeds tn be dlstributed,ail In the manner provlded in the Nebraske Trust Deeds Ac� . , .:,_;r_„.
<br /> (b) Exercise any and aIl rights provfded tor in any oi the Loan Instruments or by law upon occurrence oi any Event of '.� -��y�,,,.;; .
<br /> Oetaul�and „ ' :
<br /> (c)Commence an action to foreclose thls Qeed of Trust as a moRg�go,appoint a recelver,or spedflcalty entorc�any oi the .
<br /> ' •; oovanants hereoi. � ��� �
<br />• No remedy horeln conterred upon ot reserved to Trustee or Lender is intended W he exGusive of any other remedy herein,in the Loan •
<br /> ' Instrumenis or by law pravided or permitted,but each shall be cumulaHve,shafl bo in addi�on to every other remedy given hereunQer, , , ' �
<br /> . In the Loan Instruments or now or hareafter exlsUng at taw or In equity or by statute,�nd may be exerdsed concurrenUy,independentty . '
<br /> ; or succesively. �
<br /> '1 13.Tnistee.The Trustee may resign at any time without cause.and Lender may at any Ume and without puso appolnt a suo- �
<br /> cessor or substitute Trustee.Trustee sha11 not be liable to any party,including w(thout Omltation Lender,Barrower,Trustor or eny pur- .
<br /> chaser of the Property,for any loss ar damage untess due to rordctess or wlllfut misconduc�,and shall not be required to take any actlon � � .
<br /> in connecUon with the entorcement oi this Oeed ot Trust unless indemni�ed,in writing,for atl costs.oompensation or expenses which � •
<br /> � may be associated therewith.In addiBon,Trustee may bewme a purchaser at any sale ot the Property Qudiclat or under the powor of ,
<br /> sate granted herein):postpone the sate of alI or any portlon of the PropeAy,as provided by law,or sell the Property as a wt�ole,or in �
<br /> separate parcels or lota at Trustee's discreUon. '
<br /> 14.Feea and F.�[penses.In the event Trustee selts the Property Dy exerdse of power ot sale,Trustee shail be entitleA to appry , " � .
<br /> any sate proceeds first to payment of all costs and expenses of exercistng powat ot sate,including atl Trusteo's fees,and Lenders and
<br /> Trustee's attomeys fees, a�tuatty incurred to extent pertnitted by appl�pble lav�.In the event Borcower or Trustor exordsss any right .
<br /> provtded by Iaw to cure an Event ot Default,Lender shall be entiUed to recover irom Trustor all costs and expenses actually incurred es - � -
<br /> a result oi Trustors default,including without IimitaUon all Trustee's and atlomey's fees,to the extent pertnitted by applipble Isw. '.
<br /> 15.Fuduro Advaacou. Upon request ot 8orrati•rer, Lender may, at its option,make additlon�l and tuture advancss and read• . '
<br /> �' vances to Borrower.Such advances and readvances,wlth tnterest thereon,s�all be securefl by th�s Ueed of i rust.At no Ome shait the ---�.—• '----
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