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<br /> � ��� ���V�� . . . ' -
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<br /> � ! 'Proceeds")in connection with condemnaUOn or other taking of the Propetty or part tnereof,or for conveyance m heu of candemnaUon. ,t ' � � ���
<br /> Lender shall be entiUed at its option to commence,appear m and prosecute in�ts own name any act�on or proceedings,and shali atso . � � -
<br /> � he entitled to make any compromise ar settlement in connection with such takmg or damage. In the eveni any porUon of the Property�s • •_-"'
<br /> , so taken or damaged. Lender shall have the aption in its sole and absolute discretion, to appiy all such proceeds, after deducting k . ' � _
<br /> therefrom ali costs and expenses mcurred by it in connection wdh such Proceeds,upon any indebtedness secured hereby and in such � , • , s�?-
<br /> order as Lender may determine,or to apply all such Proceeds,after such deduchons,to the restora6on of the Property upon such con- _
<br /> ditions as Lender may datertnine Any appliqtion of Proceeds to indebtednoss shali not extend or postpone the due date of any pay- � . -
<br /> ments under the 4�Eote,or cure any detault thereunder ar hereunder Any unapplied funds shall be paid to Trustor '
<br /> 8. Pertormance by Lender.Upon the occurrence oi an Event of Default hereunder,or�f any act�s taken or Iegai proceedir.g • , __
<br /> � commenced which matPrially affects Lender's interest in the Property.Lender may in its own dfscretion,but without obligaUon 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 d deems necessary to protect the secunry hereof. Trustor shall. immediately upon •_ __ =
<br /> �I demand therefor by Lender,pay to Lender all costs and expeases incurted and sums expended by Lender m connection with the exer- � � �
<br /> s cise by Lender of the foregoing rights,together with intsrest thereon at the default rate provided m;he Note,which shall be added to . • _
<br /> the indebtedness secured hereby.Lender shall not incur any Iiability bepuse of anything n may do or omit to do hereunder —
<br /> 9. Harardous Materials.Trustor sfiall keep the Property�n compliance with all applicabte laws,ordinances and regulations _
<br /> relating to indusfial hygiene or environmental prOtect�on (collectively refemed ro herem as"Env�ronmental Laws') Trustor shalt keep � •
<br /> the Property nea tram all substances deemed to ba hazardous or toxic under any Env�ronmsntal Laws(colleCtive{y referted to harein � .. � _—
<br /> . as"Hazardous Materials'.Trustor hereby warrants and represents to Lender that there are no Hazardous Materiats on or under the . _ .
<br /> . Property.Tnistor hereby agrees to indemnify+and hotd hartnless Lender,its d'vectors,officers,employees and agents,and any succes- • • ."
<br /> sors to lenders interest,from and against any and all daims,damages,losses and IiabiliUes arising in cannection with ths presence, •• . ..;.�,•
<br /> use,disposal or transpoR of any HazaMous Materiats on,under,frorn or about the Properry.THE FOREGOING WARRANTIES AND - •:�+��
<br /> REPRESENTATIONS. AND TRUSTOR'S OBUGATIONS PURSUANT TO THE FOREGOING INOEMNIT.'; SHALL SURVIVE ''"-�� -'"���
<br /> �„ .
<br /> � RECONVEYANCE OF THIS DEED OF TRUST_ - ' '
<br /> � 10.Assignment of Rarota.Trustor hereby assigns to Lender,and grants Lender a security interest in,alt present,future and . ' _4•;y' s
<br /> after arising rents,issues and profits af the Properiy:provided that Tnutor shalt,untit the occurrence of an Event of Defautt,hereunder, • • . , -,"��°
<br /> have the right to cottect and retain such rersts,issues and profits as they become due and payabte.Upon the occurrence oi an Event oi -,;���
<br /> qefaulL Lender may,either in person or by agent,with or without bringing any action or praceeding,or by a receiver appointed by a �'^-'��
<br /> .....:.:-•o.
<br /> caurt and without regard to the adequacy of its security,enter upon and take possession of the Property,or any part thereof,in its own . =,y�---'��.�'
<br /> name or in the name of the Trustee,and do any acts which it deems necessary or desirable to pressrve the value,marketability or • � `
<br /> s�nta�i'?ty of the Property,or any part thereof or interest therein,or to increase the income therefrom or protect the securfty hereof and, , '���,•
<br /> with:r a�-=hout takin g possession of the Pro pe r t y,sue for or otherwise collect the rents,issuas and profits thereof,inGuding those past � � ., ' �, ' , �
<br /> due and�:��id,by notifying tenants to make payments to Lender.Lender may apply rents,issues and profits,less costs and expens- ' � '��•
<br /> � es of opera�on and collection including attomey's fees, to any indebtedness secured hereby,alt in sach order as Lender may deter- � `�`�� � � �
<br /> mine.The entering upon and taking possession of the Property,the collection of such rents,issues and pro fits,an d t he a�p liq tion +;
<br /> thereof as aforesaid shall not cure or waive any default or notice of default hereunder or invali date any act done in response to such . �S x ' ,i t'' . �e-
<br /> default or ursuant to such notice of default and,notwithstandin the conGnuance in ossession of the ro e or the coltection, � ; J'�
<br /> ' P 9 p P P �Y � .�: .. , —
<br /> ` receipt and applipUOn of rents,issues or profits,Trustee and Lender shall be entitled to exercise every right provided for in any of the .:� �. �r - ; ? �
<br /> � � ' Loan I�struments or by law upon occurrence of any Event of Defautt,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.LendePs rights and .' , • z. • + -� `
<br /> , remedies under any assignment of leases and rents�corded against the Property.Lender,Trustee and the receiver shall be liabte to � �,,�.
<br /> , accoun i on ly for f hose ren t s a c t ua l ly receive d. - 4�� �
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<br /> � 11.Evenffi of Defautt The following shatl consUtute an Event oi Default under this Deed of Trust: �,,.�,�;' (. �
<br /> (a)Failure to pay any installment of principat or interest or any other sum secured hereby when due; '' -- t:
<br /> (b)A breach of or default under any provlsion contained in the Note,this Deed oi Trust,any of t�e Loan Instruments,or any . �"� '� =` �,:;�-
<br /> other lien or encumbrance upon the Property: Y '-�`
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<br /> (c)A wr(t of execution or attachment or any simitar process shall be entered against Trustor which shall become a Ilen on � _
<br /> the Property or any portion thereof or interest therein; 't�.`'. � -",�.,�„
<br /> (d)There shall be filed by or against Trustor or Borrower an action under any present or future federal,state or other statute, 'a'�`.,�=-��_-_
<br /> • Iaw or regutaUon relating to bankn:;.:cy,insolvancy or othet rellef for debtors;or there shatl 6e appolnted any trustee,recelver or _ .
<br /> Iiquldator at Trustor or Borrower or ot all or any part of the Property,or the rents,issues or pmfits thereof,or Trustor or Borrower � �" •"=� ''�-'
<br /> �:-a�..•,; ..
<br /> " shall make any general assignment for the benefit oi creditors; � •+�: --
<br /> ����. .
<br /> (e)The sale, Vansfe�,lease,assignment,�naeyance or further encumbrance of all or any paR of or any interest in the . �x�'"��-� ----
<br /> . ��y:..�r.t�_�:
<br /> Property,etther voluntadly or involuntarily,withc�t the express written consent of Lender,provlded that Trustor shall be permit- � -.:� ,�
<br /> �.. ,� ted to execute a tease of the ProFerly that does not contain an opUon to purchase and the term of which doas not exceed one � �;,;�;"*�.,�
<br /> � year, '�''_ -
<br /> (�j,ibandonment of the Property;or
<br /> � (g)If Trustor is not an indlvldual,the issuance,sale,Uansfer,assignment,conveyance or encumbrance of more than(ii a ' � �'���
<br /> t ... . . _� . .
<br /> �� corporaUon)a total of 25� percent of its issued and outstanding stack,or(it a partnership)a total 09 per- � � .� _
<br /> cent of partnership interests,or(ti a limited liabitity company)a total of percent of the limited liability compa- .
<br /> . � rry interests or voting rtghts during G'*.e pe�iod this Deed of Trust remains a Ilen on the propeRy. • �..�. ' _t�=. _
<br /> . 12.Remedies;Acceleratlon Upca�Oefautt In the event of any Event o1 Detault Lender may,wtthout noUce except as requhed . . _
<br /> by law,deGare ell indebtedness secured ttereby to be due and payabte and the same shall thereupon become due and payable with- ' '
<br /> . out any presenUnent,demand,protest or notice of any Wnd.Thereafter Lender may: .. . . . S•
<br /> (a)Demand that Trustee exerclse the POWER OF SALE granted hereln,and Trustee shall thereafter cause Trustor's inier- � �,.
<br /> " est in the Property to be sotd and the proceeds to be distributed,all in the manner provlded in the Nebraska Trust Deeds Acx : '---
<br /> , . (fs) Exerclse any and all �ights provided for in any of the Loan Inshuments or by law upon occurtence of any Ev�nt o} �• � -
<br /> ' Def���Y,and
<br /> • (c)Commence an acUon to foreclose thls Deed of Trust as a mortgage,appoint a receiver,or specificalty enforce any o!the
<br /> covenants hereot. . •
<br /> No remedy horein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein,in the Loan . � -
<br /> Instruments or by Iaw provlded or permitted,but each shall be cumulaUva,shall be in addiUon to evary other remedy given hereunder, —
<br /> • in the Loan InstrumenLs or now or hereafter existing at law or in equity or by statute,and may be exercised concurrentty,independenlly
<br /> • ' or succesivefy. : . .
<br /> , 13.Trustee.The Trustee may resign at any tima without puse,and Lender may at any time and wiihout cause appoint a suo- , • __-
<br /> cessor or substltvte Trustee.Trustea shall not be 1lable to any party,including wlthout IimitaUan Lender.Borrower.Trustor or any pur- '
<br /> chaser o}the Property,for any loss or damage unless dua to recktess or willfut misconduct,and shall not be required to take any acUon . � ! ��
<br /> �' in oonnection with the enfarcement of this Deed oi Trust unless indemnified,in writing,tor aIl costs,compensaGon or expenses which
<br /> may ba assoGated fherevrith. In addition,Trustea may become a purchaser at any salo of the Property(judiclal or under the povier oi ��
<br /> = sale granted herein);postpona the sale of all or any portion ot the Property,as provided by law;or selt the Property as a whole,or in ,
<br /> �......
<br /> l saparate paroets or lots at Trustee's discretion. ,
<br /> 14.Faes and Expenses.In the event Trustee sells the Property by exercise oi power oi sale.Trustee shall be entitled to appty • � ��.`
<br /> any sate prooeeds first to payment of all costs and expenses of exercising power oi sale,including alt Trustee's fees,and Lenders and � �� !
<br /> Trustee's attomey's(ees, actually incurted to extent pertnitted by applicable law.In the event Borrower or Trustor exercises any right ( � t'� ���
<br /> provided by law to cure an Event oi Defawt.Lender shall be entitted to recover irom Trustor all costs and expenses actually incuned as k � � �,�
<br /> a result oi Trustofs default,including without limitation att Trustee's and attomey�s tees,to the extent permitted by appticabte law. i --
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<br /> � t5. Fulesr�AB�r�s�. J;.on rrqu..^�ot 9a.�ra::•�s.Lsr.de.r sna�.a! i2�cplEari.:naP.e�ddiitoss�!snd tutssre ad�r�c�and rsa�- E . .. _-_
<br /> � vances to Bortower.Such advances and readvances,with interest thereon,shall be secured by this Deed oi Trust.At no Gme shall the � �"'
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