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"Proc�eds") in connection with condemnation or other taking of the Property or part thereof, or for cdnveyance in lie�o��em ation.
<br /> _Lender shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings, and shall also
<br /> be entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion of the Property is
<br /> so taken or damaged, Lender shall have the option in its sole and absolute discretion, to apply all such proceeds, after deducting
<br /> therefrom all costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness secured hereby and in such
<br /> order as Lender may determine,or to apply all such Proceeds, after such deductions, to the restoration of the Property upon such con-
<br /> ditions as Lender may determine. Any application of Proceeds to indebtedness shall not extend or postpone the due date of an
<br /> ments under the Note,or cure any default thereunder or hereunder.Any unapplied funds shall be paid to Trustor. Y Pay
<br /> 8. Pertormance by Lender. Upon the occurrence of an Event of Default hereunder, or if any act is taken or legal proceeding
<br /> commenced which materially affects Lender's interest in the Property, Lender may in its own discretion, but without obtigation to do so,
<br /> and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor has agreed
<br /> but failed to do and may also do any other act it deems necessary to protect the security hereof. Trustor shall, immediately upon
<br /> demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the exer-
<br /> cise by Lender of.the foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be added to
<br /> the indebtedness secured hereby. Lender shall not incur any liability because of anything it may do or omit to do hereunder.
<br /> 9. Hazardous Materials. Trustor shall keep the Property in compliance with all applicable laws, ordinances and regulations
<br /> relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws"). Trustor shall keep
<br /> the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein
<br /> as "Hazardous Materials"). 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 harmless Lender, its directors,officers, employees and agents, and any succes-
<br /> sors to Lender's interest, from and against any and all claims, damages, losses and liabilities arising in connection with the presence,
<br /> use, disposal or transport of any Hazardous Materials on, under, from 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. Assignment of Rents. Trustor hereby assigns to Lender, and grants Lender a security interest in, all present, future and
<br /> after arising rents, issues and profits of the Property; provided that Trustor shall, until the occurrence of an Event of Default, hereunder,
<br /> have the right to collect and retain such rents, issues and profits as they become due and payable. Upon the occurrence of an Event of
<br /> Default, Lender may, either in person or by agent, with or without bringing any action or proceeding, or by a receiver a
<br /> court and without regard to the adequacy of its securiry, enter upon and take possession of the Pro ert , or an PPointed by a
<br /> name or in the name of the Trustee, and do any acts which it deems necessary or desirable to presenre the value, marketability or
<br /> P Y y part thereof, in its own
<br /> rentability of the Property,or any part thereof or interest therein, or to increase the income therefrom or protect the security hereof and,
<br /> with or without taking possession of the Property, sue for or otherwise collect the rents, issues and profits thereof, including those past
<br /> due and unpaid, by notifying tenants to make payments to Lender. Lender ma a I rents, issues and profits, less costs and expens-
<br /> es of operation and collection including attorney's fees, to any indebtedness se up d hereby, all in such order as lender may deter-
<br /> mine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits, and the application
<br /> thereof as aforesaid shall not cure or waive any default or notice of default hereunder or invalidate any act done in response to such
<br /> default or pursuant to such notice of default and, notwithstanding the continuance in possession of the property or the collection,
<br /> receipt and application of rents, issues or profits, Trustee and Lender shall be entitled to exercise every right provided for in any of the
<br /> loan Instruments or by law upon occurrence of any Event of Default, including without limitation the right to exercise the power of sale.
<br /> Further, Lender's rights and remedies under this paragraph shall be cumulative with, and in no way a limitation on, Lender's 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 /> account only for those rents actually received.
<br /> 11. Events of Defautt.The following shall constitute an Event of Default under this Deed of Trust:
<br /> (a)Failure to pay any installment of principal or interest or any other sum secured hereby when due;
<br /> (b)A breach of or default under any provision contained in the Note, this Deed of Trust, any of the Loan Instruments, or any
<br /> other lien or encumbrance upon the Property;
<br /> (c)A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a lien on
<br /> the Property or any portion thereof or interest therein;
<br /> (d)There shall be filed by or against Trustor or Borrower an action under an
<br /> law or regulation relating to bankruptcy, insolvency or other relief for debtors; or t er esshau be ta re federal, state or other statute,
<br /> liquidator of Trustor or Borrower or of all or any part of the Property,or the rents, issues or profits thereof, or Trustor or Borrower
<br /> shall make an ppointed any trustee, receiver or
<br /> y general assignment for the benefit of creditors;
<br /> (e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or an
<br /> Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be ermit-
<br /> y part of or any interest in the
<br /> ted to execute a lease of the Property that does not contain an option to purchase and the term of which does not exceed one
<br /> year; p
<br /> (�Abandonment of the Property;or
<br /> (g) If Trustor is not an individual, the issuance, sale, transfer, assignment, conveyance or encumbrance of more than if a
<br /> corporation) a total of�_percent of its issued and outstanding stock, or if a
<br /> cent of partnership interests, or(if a limited liability company)a total of � Partnership) a total of �
<br /> ny interests or voting rights during the period this Deed of Trust remains a lien on the ro e --Per-
<br /> percent of the limited liability compa-
<br /> 12. Remedies;Acceleration Upon Default. In the event of any Event of Default!ender may, without notice except as re uired
<br /> by law, declare all indebtedness secured hereby to be due and payabte and the same shall thereupon become due and a a
<br /> out any presentment, demand, protest or notice of any kind. Thereafter Lender may: Q
<br /> p y ble with-
<br /> a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause Trustor's inter-
<br /> est in the Property to be sold and the proceeds to be distributed,all in the manner provided in the Nebraska Trust Deeds Act•
<br /> (b) Exercise any and all rights provided for in any of the Loan Instruments or by law upon occurrence of any Event of
<br /> Default;and
<br /> (c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce an of t
<br /> covenants hereof.
<br /> No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remed herein • Y he
<br /> Instruments or by law provided or permitted, but each shall be cumulative, shall be in addition to every other remed ive
<br /> in the Loan Instruments or now or hereafter existing at law or in equity or by statute,and may be exercised concur entl � �n the Loan
<br /> or succesively. Y g n hereunder,
<br /> 13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without cause a d op tna ently
<br /> cessor or substitute Trustee. Trustee shall not be liable to any pa
<br /> chaser of the Property, for any loss or damage unless due to reckless or willful misconduct, and shall not be required to ta ep suc-
<br /> in connection with the enforcement of this Deed of Trust unless in emni edn�W�t°�ut limitation Lender, Borrower, Trustor or an
<br /> y pur-
<br /> may be associated therewith. In addition, Trustee may become a purchaser at an sale of the Pro e any action
<br /> sale granted herein ; ost one the sale of all or an 9, for all costs, compensation or expenses which
<br /> separate parcels or lots at Trustee's discretion. y p°�on of the Pro e y P rty(judicial or under the
<br /> P rty, as provided by law; or sell the Property as a who eWO�ir�f
<br /> 14. Fees and Expenses. In the event Trustee sells the Property by exercise of
<br /> any sale proceeds first to payment of all costs and expenses of exercisin �
<br /> Trustee's attorney's fees, actually incurred to extent permitted by applicable law. In thePevent Borrowe ortTru h�ll be entitled to apply � �
<br /> provided by law to cure an Event of Default, Lender shall be entitled to reco erVfrom Trustor al��dc�9 all Trustee's fees, and Lender's and ,
<br /> a result of Trustor's default, including without limitation all Trustee's and attomey's fees,to the extent oe,,,,;ffo,��tor exercises any right
<br /> 15. Future Advances. U on re uest of Borr�wp� �o.,a„_ .___. _ sts and expenses actually incurred as
<br /> vanr.pc t..n,,.�,,...__ ., . . P 4 . ..
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