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<br /> � 'Procesds')in connechon with oondemnation or otPler taking of the PropeRy or part ihereof,or for conveyante in lieu of condemna6on. _ , , ' .. ' p~
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<br /> Lender shail be entiUed at its option fo commence,appear in and prosecute in its own name any action or proceedings,and shall also _
<br /> be entitted to make any compromise or settlement in connection with ss�cfi taking or darnage.In the�ve�t any portion oi the Property is , r;
<br /> so taken or damaged.lendar shalf have the option in its sote and absotute disaetion,to apply aIR such proceeds, after deducting : ;�
<br /> therefrom all cosLS and expenses incurred by it in connection with such Proceeds,upon any indebtedness secured hereby and in such
<br /> • � ordur as Lender may detertnine,or W appty all such Proceeds.after such deductions,to the restoraUOn ot the Property upon such�n- _ '�l`
<br /> � ditions as Lender may determine.My appfication of Proceeds to indebtedness shall not extend or postpone the due date of any pay- � .
<br /> •3 ments under the Note.or cure any default thereunder or hereunder.My unapptied funds shall be paid to Trustor. �e
<br /> ' .� 8.Perfomsanse by Lendor.Upon the ocxurtence of an Event oi Detautt hereunder, or if any ad is taken or legal proceeding , _�
<br /> � commenced which materiaily affects Lenders interest in the Property.Lender may in its own discretion,but without obligation to do so.
<br /> and without notice to or demand upon Trustor and without relsasing Trustor from any obligaGon, do any act which Tnutor has agreed
<br /> � -� bui failed to do and may also do any other act it deems necessary to protect t�e security hereof. Trustor shafl, immediateJy upon . . ,
<br /> � � � demand therefor by Lender,pay to LenQer all costs and expenses incurred and sums expended by Lender in cannecUort with ths exer- FF � ;.___.___-_____ _-
<br /> ase by Lender of the foregoing rigfits,together with interest thereon at the default rate provided in the Note,which shaU be added to �
<br /> the indebtedness secured hereby.Lender shall not incur any liability because of anything it may do or omi4 to do hereunder. �i
<br /> 9. Hamrdous Materlals.Trustor shall keep the Property in compliance with aIl applicable laws,ordinances and regulations f ., _
<br /> rela6ng to indusfial hygfene or environmental protection (collectively refened to herein as'Environmental Laws7.Trustor shall keep t . .��'.
<br /> the property free from all substances deemed to be har�rdous or toxic under any Environmental Laws(callectively referred to herein � :� . . :�. .:, . - _
<br /> ar . .
<br /> as'Hazardous Materiats�.Trustor hereby warrants and represents to Lender that there are no Hazardous Materials on or under the -
<br /> Property.Trustor hereby agrees to indemnify and hold hartnless Lender,its drectors.officers,employees and agents,ansf any succes- •��5�:,�-'`
<br /> sors to Lender's interes�from and against any and alt daims,damages.:osses and liabitities arising in connedion vrith the presence. �
<br /> use,disposal or transport of any Hazardous Materials on,under,from or about the Property.THE FOREGOIHG WARRANTIES AND ` ' : •�,;..,�.
<br /> ` REPRESENTATIONS,AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING IIVDEMNITY, SHALL SURVIVE •�,a,a:� � '
<br /> `i� RECONVEYANCE OF THIS OEED OF TRUST. ` `' ��"' �`f��`
<br /> . :s�e��-, ;' -
<br /> 10.Assignment of Rents.Trustor hereby assigns to Lender,and grants Lender a secunty interest in,aIl present,fufure and • _ _
<br /> aRer arising rents,issues and profits of the Property:provided that Trustar shaU,until the occurrence of an Event of Oefaut�hereunder. �=�x'..'—'
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<br /> ' have the right to cutlect and retain such rents,issues and profits as they become due and payable.Upon the occurrence of an Event of ; .�,,,- -,:_
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<br /> � Qefault,Lender may,either in person or by agent,with or without bringing any action or proceeding,or by a receiver appointed by a . ,� ;_
<br /> � court and without regard to the ade�uacy ot its security,enter upon and take possession of the Pmperty,or any pa�t thereof,in its own -.�� _
<br /> name or in the name of the Tn�stee,and do any acLs which it deems necessary or desirable to presenre the value,rtrarketabitity or , �_-:
<br /> rentabitity of the Property,or any part thereof or interest therein,or to increase the income therefrom or protect the security hereof and. � ' ��'''9•.�
<br /> with or without taking possassion of the Property,sue for or othervuise coltect the rents,issues and profits thereof,induding those past 4: �=,� `
<br />' due and unpaid,by notifying tenants to make payments to Lender.Lender may apply rents,issues and profits,lass cost3 and expens- j�'
<br /> es of operation an�ootlecdion induding attomey's fees, to any+ndabiedness secured hereby,aU in such ordar as Lender may deter- f' .4 .r�
<br /> ;�' mine.The entering upon and taking possession of the Properly,the co►lection of such rents. issues and pmfits, and the apptication �.,�� ;u,�,' � �,.•'
<br /> thereof as afiresaid shall not cure or waive any default or notice of default hereunder or invalidate any act done in response to such .� .. � ; f :'
<br /> detault or pursuant to such noGce of default and, notwlthstanding the continuance in possession of ffie property or the collection, �
<br /> receipt and application af rents,issues or profits,Trustee and Lender shall be enUded to exerdse every rtght provtded for in any of the
<br /> Loan Instruments or by law upon occurrence of any Event of Default,incl��'.ng without Iimitatlon the right to exercise me power of s��.
<br /> Further,Lenders rights and remed3es under t�is paragraph shall be cumu:a:�ve with,and in no way a Iimitation on.Lender's rights a�d •;; ,.
<br /> remedies under any assignmer�i of leases and rents recor�e�against the Properly.Lender.Trustee and the receiver shall ba liab3�to � .y_' :` ;?�. .� —
<br /> account only fos those rents zc?�aally received. �� �
<br /> .,,�. ��� ,.
<br /> '� 11.Evenffi oi Dafauli'9�he following shall consU4ute an Event of Default under this Oeed of Trust •-�
<br /> - (a)Fallure to pay any Instaltment of princlpal or interest or any other sum secured hereby whan due: _ ::w , ,•� r��.
<br /> (b)A breach of or detault under any provision contained in the Note,this Oeed oi Trust,any of the Loan Insb�uments,or any '�-�, ;1"; ,�•
<br /> otherlien orencumbrance upon the Property; - :-.' -���°L
<br /> (c)A writ of execuUon or attachment or any similar process shall be entered against Trustor which shal'become a lien on
<br /> the Property or any portion thereof ar interest therein; '� � -��'���"'-°-'.'
<br /> (d)There shall be fited by or�gainst Trustor or Borrowar an actlon under any present or future tederal,state or other statute, ����i _,a.�.�•� °
<br /> taw or�IaUon raiating to bankruptcy,insolvency or other retief for debtora:or ihere chall be eppofnted any trustea,rece►ver or . ;�=�
<br /> ��� UquldaLar cf Trustor or Borrower or of a�l or any part oi the Property,or the rents,Issues or profits thereof,or Trustor or Borrowar '.. ����
<br /> . � shall maka any general asstgnment for the benefit of credltors; ��_:�"'L'�
<br /> ' (e)The sale,trar�SPsr, lease,assignment,convayance or fuRher encumbrance ot all or any paR of or any interest in the '���j
<br /> Proporty,either voture'a.�ity or involuntarily,without the express written consent of Lender,provided that Tru�r shalt be permit . ;4 �
<br /> ted to exezute a lease ot the Properiy that does not wntaln an optlon to purchase and the term oi whtch does not exceed one , �� •�;
<br /> � year, .,,�i�=��--.
<br /> (�Abandonment of the Property;or ���; '..
<br /> (g)If Trustor is not an indlvldual,the issuance,sale,transter,asstgnment,convayance or encumbrance oi more than(if a '��.� �.-,
<br /> �d corporation)a totat of percent of Its issued and outstanding stock,or pf a partnership)a total o! per- �,.
<br /> ' �`�-•;•:. - . �
<br /> cent oi partnership(nterests,or(i!a limlted Iiabtllry company)a totaf of percent ot the tirnited Iiability compa- . �;:, �
<br /> •! ny interests or voUng rights duNng the period this Desd of Trust remains a lien on the properly. _ ,
<br /> f 12.Remedies;Aceeteratlon Upon Oefautt In the event of any Evant of Default Lender may.without noUce except as�-�.�red : �,�t
<br /> • •. ; by law,dedare all Indebtedness secured hereby to be due and payable and the same shall thereup�n become due and pa}rab'�with- —
<br /> ,. 1 out any presentment,demand,protest or nohce oi any klnd.Thereafter Lender may: • . : . :
<br /> (a)Demand that Tnisiee exerGse the POWER OF SALE granted herein,2r.d Trustee shall thereafter cause Trustors inter-
<br /> ' ' est in the Property to be sotd and the proceeds to be distributed,all in the manner provided in the Nebraska Tnist Deeds Act; .
<br /> � (b)Exerdse any and all Nghts provlded for in any of the Loan Instruments or by law upon occurrence oi any Event oi .
<br /> Oef2:�:x and
<br /> (c)Co:nmence an acUon to foreGose this Oeed of Trust as a mortgage,appoint a recelver,or speciflcalty enforce any of the • •
<br /> ` covenants hereot. . —
<br /> ' i ;�o romedy here)n cor►ferred upon or reserved to Trustee or Lendor is intended to be exduslve oi any other remedy herein,in the Loan . . `
<br /> � InsUuments or by law provided or permltted,but each shall be cumulaUve,shall be in a�diUon to every other remedy given hereunder, .
<br /> in the Loan Instruments or now or hereafter exisUng at law or In equity or by statufe,and may he exercised concurrentty,independently . . t
<br /> or sucoesivefy. �
<br /> ' 13.TruEtee.The Trustee may resign at any dme without cause,and Lender may at any Ume and without cause appoint a sua , � �
<br /> cessor or su6stltute Trustee.Trustee shall not be flabte to any party,including w(thout limitatlon Lender,Bortower,Trustar or any pur- .
<br /> chaser of the PropeAy,for any loss or damage unless due to reckless or willful misconduct,and sha11 not be required to take any acUon _ • �� �
<br /> in connection with the enforcement oi this Ooed of Trust unfess indemnified,in writing.for all costs,compensation or expenses which
<br /> may be associated therewlth.In addidon,Trustea may become a purchaser at any sale oi the Property(judida!or under the power of • � -
<br /> . sale granted herein);postpone the sale of all or any Rortlon of the Property,as provided by law;or sell the Property as a whole,or in � �-
<br /> separate parcels or lots at Trustee's discreUon. ' • ��
<br /> 14.Fees aad Expenses.In the event Trustee sslfs the Property by exerGse of pawer ot sale.Trustee shall be entitled to appty .
<br /> any sale proceeds first to payment oi all costs and expenses of exercising power of sale,including all Trustee's fees,and Lender's and
<br /> Trustee's aitomeys fees, actuatty incurted to e�ctent permitted by appticable law.In the event Borrower or Trustor exercises any right : . .
<br /> provided by law to cure an Event of Default,Lender shall be entitled to recover from Trustor aU costs and expenses actualty incuned as
<br /> a result ot Trustors defaul�including without IimitaUan aIl Trustee's and attomey's fees.to the extent permitted by appticable taw. . . .
<br /> �. ___ �5.Su�stc p,si�a.^.tsa.Upon req�e5t et Rorrnv,er. Lender may.at its oDtion.make additional and future advanoes and read- _ __ _ _
<br /> vances to Borro•�ver.Such advances and readvances,with interest thareon,shall ba secured by this Deed of Trust.At no time shalt tne �
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