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<br />� .�� 'F�faceeds�}in cOnnecli�in wiu�Wndemnaaon or U'u`ror inRit�y Gi u�d�i�NB�iy oi pari u�nic�i.�)i iGi rvvyo:S.:c.:':::a::��.'.�:.."t^�ti�:. � .---- � :
<br /> tendar shal!be eniiUed at its op4on to commence,appear in and prosecute in its own name any action or prooeedings.and shall aiso : �:
<br /> be entitled to make any compromise or settlement in connection with suct�taking or damage. In the eveni any portion of the Proparty is ' ' L�
<br /> � , 1 so taken or damaged, Lender shalt have the option in its sols and absotute discxetion,to appty alt such proceeds, after deduding , � . • � •��
<br /> � therefrom all costs and e�enses incurred by it in connection with su�ch Proceeds,upon any indebtedness secured hereby and in such ` � ��
<br /> , order as Lender may determine,or to appty ail such Proceeds,after such deducdons,to the restoration of the Property upon such can- , ' �.�
<br /> � ditions as Lender may detertnine.Any apptiqtian of Procesds to indebtedness shafl not extend or postpone the due date of any pay- �
<br /> - 1 mants under the Note,oe cu►e any defautt thereunder or hereunder.Any unappiied funds shali be paid to Trustor. , __
<br /> 8. Pe�formance by Lender. Upon the occurrence of an Event of Default hereunder,or if any act is taken or legal procee�mg . , -�
<br /> � �ommenced which materially affects Lender's interest in the Property.Lender may in its own discretion,but without obliga6on to do so.
<br /> and without notice to or demand upon Trustor and without releasing Trustor from any obtig�tion,do any act which Trustor has agreed
<br /> � but failed to do and may also do any other act ft deems necessary to protect the securiry hereof. Trustor shall,immediately upon -- -- - �r - --
<br /> � demand therefor by Lender,pay ta Lender all costs and expenses incurred and sums expended by Lender in connection with the exer- , . , ,
<br /> cise by Lender ofi the foregoing rights,together with intsrest thereon at the default rate provided in the Note,which shall be added to �
<br /> the indebtedness secured hareby.Lender shall not incur any liabitityr bepuse of anything it may do or omit to do hereunder. . . : . � . . �
<br /> � 9.Hamrdous Materials.TrusDor shall keep the Property in compliance with aIl applicable laws, ordinances and regutations • . , � ; . . ..„�
<br /> relating to industrial hygiene or environmental protection(collecSvely referred to herein as`Environmental Laws�.TrusWr shall keep . . _
<br /> ' the Property fres from aIl subshances deemed to be hazardous or toxic under any Environmental Laws(collec6vely referred to herein . � � ��-'
<br /> as'Hazardaus Materials').Trustor hereby warrants and represents to Lendar that theri2 are no Hazardous Materials on or under the . ,' '''°�`� �
<br /> . Property.Trustor hereby agrees to indemnify and hold hartnless Lender,its directors,officers,employees and agents,and any succes- � . �_ `__�
<br /> sors to Lenders interest,from and against any and all Gaims,damages,losses and liabilities ansing in connection with tfie presenrz, ' ; � ° -
<br /> ' - use,disposat or transport of any Hazardous Matsrials on,under,from or about the Property.TFiE FOREGOING WARRANTIES AND ' � '���-'�``
<br /> ` REPRESENTATIONS, AND TRUSTOR'S OBUGATIONS PURSUANT TO THE FOREGOING INDEMNITY,SHALL SURVIVE '�`"`.�`
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<br /> RECONVEYANCE OF THIS DEED OF TRUST. s��-�`�� "�9f
<br /> .� 10.Assignment of Renta.Trustor hereby assigns to Lender,arsd grants Lender a securiyr interest in, all present, firture and • ���.; �-'� ��
<br /> � after arising rents,issues and profits of the Property;provid2d that Trustor shall,until the occurrence ot an Event of befault,hereunder. , -'�'�.—��
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<br /> have the dght to collect and retain such rents,issues and profifs as they become due and payable.Upon the occurrence of an Event of • ��;.=�••�.�
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<br /> - Qefault,Lender ma ,either in person or b a ent,with or without brin 'n an actlon or roceedin or b a receiver appointed b a '.� _ __��-_
<br /> , court and without regard ro the adequacy of its security,enter upon and take possession of the Property,or any pad 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 preserve the value, maricetabitiry or , � �°�• `�i �
<br /> rentabil'tty of the Property,or any part thereof or interest therein,or to inaease the income therefrom or protect the securiry hereof and, • �;�'�,:�� .-
<br /> with or wlthout taking possession of the Property,sue for or otherwlse collect the rents,issues and profits thereof,inctuding those past �_'��y��
<br /> due and unpaid,by notifying tenants to make payments to Lender.Lender may apply rents,issues and profits,less oosts and expens- ". �. , ,.�,t.__
<br /> es of operation and cotlection in�uding attomey's fees, to any indebledness secured hereby,all in such order as Lender may deter- • . �:� �
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<br /> mine.The entaring upon and taking possession of the Property,the cotlection of such rents,issues and profits,and the application " :� �'� �-`
<br />• thereof as aforesaid shatl not cure or waive any default or notice of default he�eunder or invalidate any act done in response to such � �� �. . '' ' �
<br /> default or pursuant to such notice of default and, notwithstanding the conUnuance in possession of ths property or the collection, �' ��.�• .�. .:� .
<br /> recelpt and applicaUon of rents,iss��es or profits,Trustee and Lender shall be entiUed to exerGse every right provided for in any of the �;-��;�- -'} ''
<br />. Loan InsVuments or b law u on occurrence of an Event of Default,InGudin wlthout timitation the ri ht to exercise the ower of sate. �"�' '+�� -
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<br /> Further,Lender's rights and remedies under thls paragraph shall be cumulaGve with,and in no way a limitation on,Lenders rights and ,�*,�__ �
<br /> remedies under any assignment of leases and rents recorded against the Property.Lender,Trustee and the receiver shall be Iiabte to ,�, .. ,'�
<br /> �:� account only for ihose rents actualty received. _ . ... d` •
<br /> 11.Evonts of Default.The following shall constitute an Event of Defautt under this Deed of Trust ��•`.,;�;,,;�-� -• ; • _
<br /> (a)Faqure to pay any Installment of principal or interest or any other sum secured hereby when due; , � ��� -
<br /> (b)A breach oi or default under arry pr�vlsion contained in the Note,this Oeed of Trust,any of the Loan Instrumenb,or any � ���
<br />. other lien or encumbrance upon the Property; l� ,,=, :,�:
<br /> ' ', (c)A writ oi exeCUUon or attachmant 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)Thare shall be filed by or against Trustor�v Borrower an action under any present or future federal,state or other statute, �-
<br /> � law or regulatlon relaUng to bankruptcy,irtsohrency or other reliei tor debtors;or there ahall be appointed any trustee,recelver ot '�, �'�r :
<br /> tlquida2or of Trustcr or Borcower or oi ali or any part of the Properly,or the rer►ts.(ssues or proflts thereof,or Trusior or Bortawer �.'"""��°�"'��'�''�
<br /> ' shall matce any general assignment for the 6enefit oi creditors; � `"`"�—"��.
<br /> �' (e)The sate.Vansfer, lease,assignment,conveyance or further encumbrance of all or any paR of or any interest in the `�`;,�„�:
<br /> q PropeKy,either votuntadly or involuntarily,w(thout the express written consent of Lender,provided that Trustor sAall be pertnit- _ •r_�,,���;�'`_
<br /> � � ted to execute a lease of the Proparty that doea not contaln an opUon to purchase and the term of whlch does not exceed one ,•....�� �_ �,�.
<br /> Year, ;.'���`.
<br /> (f}Abandonment of the Property;or
<br /> • (g)Ii Trustor is not an indivldual,the issuance,sale,transfer,asslgnment,convayance or encumbrance of more than(if a ����j�... „
<br /> corporatbn)a total of percent of its issued and outstanding s4ock,or(ii a partnership)a total of per- '�;�Y r,z.....;�.,---.�--
<br /> � cent oi parhnershlp inierests,or(ii a limited liability wmpany)a totat of percent of the llmited liabiliry compa- ,,;��,,,,_;,rr,,��;: _
<br /> ny lnterests or voUng rlghts du�ing the pertod this Deed of Trust remains a Nen on the property. ,:;.,_,�r3_��s•�•.', _
<br /> 12.Remedles;Acceleratton Upon Detaul�In the event of any Event of Default Lender may,wlthout noUce except as requlred . ' ".--�-::
<br /> by law,declare all indebtedness secured hereby to be due and payabte and the same shall thereupo�become due and payable with- . . ....
<br /> out any presen4ment,demand,protest or noUoe oi any kind.Thereafter Lender may: • � ��
<br /> (a)Demand that Tn�stee exercise the POWER OF SALE granted herein,and Trustee shatl thereafter cause Trustors inter- � �'
<br /> est in the Property to be sotd and the proceeds to be disUibuted,al!in the manner provlded in the Nebraska Trust Deeds Act; -"�°�=`:*"°•__
<br /> (b)Exercise any and a11 rlghta provided for in any oi the Loan Instruments or by law upon occurrence of any Event of . .
<br /> Detaul�and .
<br /> (c)Commence an action to toreGose this Desd oi Tnist as a mortgage,appoint a receivar,or specfically enforce any of the • •
<br /> � covenants hereot . " —
<br /> No remedy herein conferred upon or resenred to Trustea or Lender is intended to be exGuslve oi any other remedy hereln,in the Loan '
<br /> Instruments or by law prov�ded or permitted,but each shalt be cumutative,shall be In addtUon to every other remedy given hereunder, . � . .
<br /> in the Loan Instruments or naw or hereafter exisUng at taw or in equiry or by Statute,and may be exercised concurtenUy,independenUy •
<br /> or succesively. . • ' .
<br /> 13.Trustee.The Trustee may resign at any tlme without cause,and Lender may at any time and without cause appoint a suo- .
<br /> ces&or or subsUtuta Trustee.Trustea shall not be Ilable to any party,including wlthout Umitatlon Lender,Borrower,Trustor or any pur- � � � -
<br /> chaser ot the Property,for any loss or damage unless due to reckless or�vUKut misconduct,and ahall not be required to take any action
<br /> in connection with the enforcement of this Deed of Trust unless indemnified,in wriUng,tor alt costs,compensation ar expenses vfiich
<br /> may be associated therewith.In addition,Trustee may become a purchaser at any sale of the Property(judiciat or under the power of ' ''
<br /> sate granted herein);postpone the sale of all or any portlon ot the Property,as provided by law:or sell the Property as a vfiole,or in � _
<br /> . separate parcels or Iots at Trustee's discreUon. �
<br /> 14.Fees and Expenses.In the event Trustee sells the Proper4y by exerclse of power of sa�e,Trustee shall be entiUed to apply � :
<br /> any sale proceeds first to payment of all costs and expenses oi exercising power of sale,includ:ng all Trustee's fees,and Lendefs and
<br /> • Trustee's attomey�s fees. actually incurred to extent pertnitted by applicable�aw. In the event Borrowar or Trustor exercises any right ' � •
<br />� providad by law to cure an Event ot Detault,Lender shall be entitted to recover from Trustor all cosis and expenses actualty incurred as .
<br /> _.. a re�t of Tn��tors detaul!.�ncluding+H+tho��t Iimite�on aii Trustee's and aitomey�s fees.!o the extent permitted by applicabte law ___,. _.._ ___ -
<br /> 15.Fu2ure Advancas.Upan request oi Borrower,Lender may,at its opiion,make additional and future advances and read-
<br /> vances to Borrower.Such advances and readvances,witfi interest thereon,shall be secured by this Oeed of Tr�st.At no tirne shall the � . , . C
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