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;.—.��__�. _.. .. ._ ._ , _ -
<br /> �������C-i� .� . , `�o
<br /> 'Proceeds')in cnnnection with condemnation or other tsking of the Property or part thereof,or for conveyance in heu of condemnation. � , � � • �
<br />` Lender shali be enUUed at its opbon to wmmence,appear in and prosecute in its own name any action or proceedings,and shall also � _-
<br /> � be entiUed to make any compromise or setUemertt in connection with such taking or damage.In the event any portion of the Proparty is , , r,
<br /> so taken or damaged. Lender shall have the opUon in its sole and absolute discretion,to app�y all such proceeds, after deducting . „L
<br /> therefrom all costs and expenses incutted by it in connection w:th such Proceads,upon any indabtedness socured hereby and in such
<br /> order ps Lender may deteRnine,or ta eppty al!such Proceeds,after such deductians.to the restoraUon of the ProReRy upon such mn- ;�°
<br /> � diGons as Lender may determine.My application of Proceeds to indebtedness shall not extend or postpone the due date of any pay- . `_
<br /> . � ments under the Note,or cure any delault thereunder or hereunder.My urtapplied funds shall be pa�d to Trustor. -
<br /> _ 3 8. Performance by Lender. Upon ths occurrence o f an Event o f De f au l t hereun der,or i t a n y a c t i s t a k e n a r t e g a l p r o c e e d i n g
<br /> commenced which materially affects Lende�s interest in the Property.Lender may in its own discxetion,but without obligation to do so.
<br /> ' ! and without nodce to or demand upon Trustor and without rel8asing Trustor from any obligat�on,do any act which TrusWr has agreed . �
<br /> :. . ! but failed to do and may also do any other act it deems necessary to protect Ne secunty hereaf. Trustor shalt, immediately upon _
<br /> demand therefor by Lender,pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the ezer- E ,
<br /> ! cise by Lender of the foregoing rights,together with interest thereon at the defauli rate provided�n 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 omit to do hereunder. , °
<br /> � 9.Hazardous Pllateriats.Trustor shall keep the Property in campliance with all applicable laws, ordinances and regulations • . �
<br /> � , . �
<br /> i relating to industrial hygiene or environmentat protection(oollectively referred ta herein as'Environmental Laws').Trustor shatl keep .. . ,�-
<br /> � the PropeRy free from all su5stances deemed to be hazardous or toxic under any Envfronmental Laws(wflectivety referred to herein - ,
<br /> as'Hazardous Matenals'). Trustor hereby warrants and represents to Lender that there are no Hazardous Matenals on or under the •• t
<br /> Property.Trustor hereby agrees to indemnify and hold harmless Lender,its directors,officers.emplayees and agertts,and any succes-
<br /> . sors W Lenders interest,frorn and against any and all Gaims,damages,losses and liabilities arising in connection with the presence. : '.� , ,
<br /> usa,disposal or Uansport of any Hazardous Materiats on,under,from or about the Property.THE FOREGOING WARRANTI�S AND __��,;,,,��
<br /> ' REPRESENTATIONS, ANO TRUSTOR'S OBLIGA'f'IONS PUi2SUANT TO THE FOREGOING INOEMNITY, SHaLL SURVIVE . -
<br /> � RECONVEYANCE OF TH1S OEED OF TRUST. .. • � � � � `�'
<br /> 7�-... . .
<br /> 10.Asslgnmant of Renis.Trustnr hereDy assigns ro Lender,and grants Lender a security interest in,a!I present,fuhue and . ,_ -:`
<br /> '�+si�e .
<br /> after arising rents,issues and profits of the Property;provided that Trustor shall,until ths occuRence of an Event of Defautt,hereunder, , ,�•: �_�•..
<br /> � ^ � have the rtght to collect and retain such rents,issues and profits as they become due and payable.Upon the occurrence of an Event of :__
<br /> . Qefault,Lender may,eiiher in person or by agenL with or without bringing any action or proceeding,or by a receiver appointed by a .� , ;���:_
<br /> court and without reyard to the adequacy of its security,enter 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 ads which it deems necessary or desirabte to�reserve the value,marketability or . _`u,� , :.F —
<br /> . rentability of the Property,or any part thereof or interest therein,or to incr�ase the income therefrom or protect the security hereof and, . ,
<br /> . ' with or without taking possession of the Property,sue for or otherwise coflect the rents,issues and profits thereof,including those past <`�.:':iaT '
<br /> rents,issues and rofits,less costs and expens- ;::"'�''F'•' �
<br /> due and unpaid,by notif�ring tenants to make payments to Lender_Lender may appty p , ; 4'�� t(_:
<br /> - es of operation and collection induding attome�s fees,to any Inde6tedness secured hereby,aIl in such order as Lender may deter-
<br /> ' mine.The entering upon and taking possession of the Property,the collection of such renis, issues and proflts,and the app!ication "
<br /> thereof as aforesaid shall not cure or waive any detault or notice of default hereunder or invalidate any act done in response to such � � P
<br /> defautt or pursuant to such noUCe of default and,nolwithstanding the contlnuance in possession of the propeRy or the cottection, ��
<br /> ; reteipt and appliption of rents,issues or profits,Trustea and lender shall be enUUed W exercise avery right provided for in any of the '= �,:;
<br /> Loan Instruments or by law upon occurrence of any Event of Dafault,inGuding without limitation the right to exercise the power of sate. ��� '
<br /> Further,Lenders rights and remedies under this paragraph shall be cumulative with,and in no way a limitation on,Lender's rights and . �.: :
<br /> dies under an assi nment of leases and rents recarded against the Property.Lender,Trustee and the receiver shall be liable to '�`'�i .
<br /> reme y g
<br /> accflunt only for those rents actualty received. ! i ` �
<br /> 11.Events of Oetautt The foltowing shall constitute an Event of Default under this Oeed of Tn,st: - �t�`
<br /> - (a)Faiture to pay any instaltment of principal or interest or any other sum secured hereby when due: ��_�4`y����
<br /> (b)A breach of o�default under any provlsion contained in the Note,this Deed of Trust,an/of the Loan Instruments,or any �:.°�; . �;�,__-
<br /> " other lien or encumbrance upon the PropeRy; ,�,r.:•
<br /> � (c)A writ of execudon or attachment or any simil2r process shall be eniered against Trustor which shall become a lien on ,,.,-- • �--
<br /> .-. the?roperty or any portlon tnereof or Interest therein; i-.� ,r=��*���
<br /> �- (d)There shall be filed by or against Trustor or Borrower an acUon under any present or future federal,state or other statute, ;,,,,�„
<br /> `_` .�-.0-
<br /> Iaw or tegulaUon retating to bankruptcy,insolvency or other relief for debtors;or thare shall be appointed any trustee,rece3vet ar ....,,,.....�"'`� :
<br /> pquidator ot Trustor or Borrower or of all or any paR oi the PropeRy,or the rents,issues or profits thereof,or Trustor or Bortower =•,}��,?��-.---
<br /> • shatl make any general asslgnment for the benefit of creditors; �"'-�`�°`"T'
<br /> R.��.
<br /> � (e)The sale,transfer, lease,asslgnment,conveyance or fuRher encumbrance of all or any paR of or any interest in the :�_ • �
<br /> -���._T.
<br /> � Property,either voluntedty or invotuntar+ly,without the express written wnsent of Lender,provlded that Trustor shall be permit- :,� ��,_ _,
<br /> � � ted to execute a lease ot the PropeAy+that does not contain an optlon to purchase and the term oi which does not exceed one � r,�:x,,�awy"�=;T
<br /> �`+iw-'+!Qp��,... _-
<br /> " year, ;.•`,
<br /> �� (�Abandonment of the Property;or _ :�
<br /> ','�:,.,.s
<br /> • (g)Ii Trustor Is not an indivldual,the Issuance,sale,Vansfer, assignment,conveyance or encumbrance of more than(if a � II - -+.'�
<br /> ..::.�!es�:.�.•:�
<br /> corporatlon)a total ot percent oT its issued and outstanding stook,or(ii a parfieiship)a total of per- - , ,;y _��
<br /> cent of partnership interests,or(if a limited Iiability company)a total oi percent ot the limited liability compa- � . .
<br /> ny interests ar voUng dghts du�ing the pedod this Deed o}Trust remains a Uen on the propeRy. . • ,;r. - ,
<br /> 12.Remedles;Acco�eratton Upon DafauH.In the event of any Event of Default Lander may,wlthout notice except as required ;
<br /> � by law,dectare all indebtedness secured hereby to be due and payable and the same shatl thereupon become due and payabte with- �
<br /> out any presentment,demand,protest or nodce of any kind.Thereafter Lender may: •'. ' ��.;,,�„._ _
<br /> _ (a)Demand that Trustee exercise the POWER OF SALE granted hereln,and Trustee shall thereafter puse Trustors inter- '��o��.
<br /> est in the Proparly to be sold and the proceeds to be disVibuted,atl In Me manner provided in the Nebraska Trust Deeds Ach .
<br /> (b) Exercise any and all rights provlded for in any oi the Loan Instruments or by law upon occurrence of any Event oi . .
<br /> Dstault;and �
<br /> (c)Commence an acUon to forectose thls Deed of Trust as e mortgage,appo)nt a receiver,or speciflcalty enforce any oi the �
<br /> • covonants hereof. � . ' �
<br /> No remedy herein conferced upon or reserved to Trustee or Lender is intended to be exGusnre oi any other remedy hereln,in the Loan •
<br /> Instruments or by law prov3ded or permltted,but each shall be cumulative,shal!be in addiUon to every other remedy given hereunder, • _
<br /> In the Loan Instruments or now or hereafter existing at 1aw or In equlty or by statute,and may be exercised concurrenUy,indegendentty . _
<br /> � or succesivety. ' �
<br /> 13.T►ustes.Yhe Trustee may resign at any Ume without cause,and Lender may at any time and without cause appoint a suo- �
<br /> cessor or subsUtute Trustee.Tnisiee shall not be Ilable to any party,including without IlmitaUon Lender.Borrower,Trustor or any pur-
<br /> chasar oi the Property,for any Ioss or damage untsss due to reckless or wiliful misconduct,and shall not be required to take any adion . �
<br /> � in oonnection with the entorcement of ttiis Deed of Trust untess indemnifled,in wriUng,for all costs,compensation or expenses which • . . .
<br /> may be associated therewith.In addiUon, Trustee may become a purchaser at any sate oi the Property(judicial or under the power of ,
<br /> sale granied herein);postpone the sale of all or any pordon ot the Property,as providsd by law;or sell the Property as a whole,or in . , �
<br />. separate parcets or lots a!Trustee's discreUon. • . '
<br /> 14.Fees a�d Expenaes.In the event Trustee sells the Property by exerGse ot power of sate.Trustee shall be enGtted to apply . ,
<br /> any sate proceeds first to payment of all cflsts and expenses of exerGs�ng power oi sale,inGuding a!I Trustee's fees,and Lenders and • • _
<br /> Tru�tse's attome�s tees, actualty incurred to extent pertnitted by applicable law.In the event Borrower or Trustor exercises any right .. _
<br /> . provi6ed by law to cure an�Event oi Oefault Lender shall be entitled to recover from Trustor aIl costs and expenses actualty incuRed as . • • �
<br /> a result oi Trustors detaul4,including without limitation all Trustea's and attome}ls fees,to the extent permitted by applicabte law. � .
<br /> ___� ��,p su_p,��,.p�yon�gg,I�Rqp{gQ��ggf ot BOrrOwer, Lender may. at its option.make addiUona�and future advances and read- _ _ -
<br /> vanoes to Borrowar.Such advances and readvances,vdth interest thereon,shall be secured by this Oeed of Trust.At no time shall tha
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