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<br /> ' � 'Proceeds')in connection�nrith condemnatfon or other taking of the ProDerty or part thereof,or for conveyance in Iieu of wndemnation. :< .` " c:,
<br /> � Lendar shall be en6tled at its oprion to a�mmence,appear in and prosecute in its own rtame any action or proceadings,and shatl also ' , , • � �.
<br /> . °
<br /> be entiUed to make any compromise or settiement in connecUon with such tak�ng or damage.In the event any portfon of lhe Property is , � �
<br /> i , < _ �'s
<br /> ' � so taken or damagea, Lenoer snaii nave ine i,yi�u������s%'�=^.� '�-�-"-^�'!tg discretion. to anniy all such proceeds. after daductlnA r---.- -- - . 'x.
<br /> � p. n �� _n any�ndahtedness secured herebY and in such '�~
<br /> therofrom alf cc�sts and expenses�ncurrea oy ii i�i u,����a..-rc��»i?..s:�•. .oC-°Q'!_.-S�"' �- --- - -_-_ --µ
<br /> ! ordsr as Lender may detertnine,or to appty ap such Proceads,after such deductions.to the restoration of the Properiy upon such oon- � -T-_ -�_
<br /> � ditions as Lender may detertnme.Any application oi Proceeds to indebtedness shall not extend or postpane the dae date of any pay- [ , � . �b
<br /> i ments under the Note,or cure any de fau l t t hereun der o r h e r e u n d e r.A n y u n a p p l i s d f u n d s s h a f l b e paid to Trustor l - ..
<br /> i 8-P�Rormance by Lender.Upan the occurrence of an Event of Defautt hereunder,or if any arx is hken or legal proceeding � � .� ,
<br /> ' commenced which materialty affects Lender's interest m the Proper4y.Lender may in its own di�creGon,but without obliga6on to do so, � . .
<br /> • � and without notice to or demand upon Trustor and without releassng Trustor from any obligation,do any ad which Trustor has agreed � , . '
<br /> � •' but faited to do and may also do any other act it deems necessary to protect the secunty hereof.Trustor shall, immediately uRon _
<br /> � -
<br /> ��-� demand therefor by Lender,pay to Lender ati cbsts and expe7sas incurred ar�d sums exFended by Lender in conneciion with the exer- ►. . _ _
<br /> s
<br /> � ase by Lender of the foregoing rights,together with interest thereon at the defautt rate provided in the Note,which shall be a�ded to �
<br /> the indebiedness secured hereby.Lender shall not incur any tiability bequse of anything it may do or omit to do hereunder. } �
<br /> 9. Hazardous Materials.Trustor shatl keep the Property in compliar.ce with a1f appficable laws,ordinances and regulaGons . , . ; ,
<br /> ".j relating to industrial hygiene or environmentat protection(callectively refeRed to herein as'Environmental Laws�.Trustor shall keep , -
<br /> the Property free from aii subsian�ss ue���cti f���azard%.%s�r:exic L•"•der's'•y F•"•�'r^mnc.nral 1 aws(collectively referred to herein ___ .__ _______ _� ,
<br /> as"Hazardous Materials').Trustor hereby warrants and represents to Lender that there are no Hazardous Matenals on or undsr the �. �(�•
<br /> �i Property.Trusior nereby agrees to indemnify and hold harmless Lender,rts d�rectors,officers,employees and agents,and any succes- ,,,,. . --
<br /> ° � sors to Lende�s interest,from and against any and all daims,damages.Iosses and lia6ilities arising in connecdon with the prgsenc8. . ,��
<br /> • _ usa,dis�asa�or transoort of any Hazardous Materials on,under,from or about the Property.THE FOREGOING WARRANTIES AND -_ �Y:
<br /> REPRESEN7ATIONS. AND TRUSTOR'S OBLIGATIONS PURSUANT i O THE FOREGOii3G iivdEtnt3iTY, SHALL Si.iRViVE - . , --
<br /> , -�
<br /> RECONVEYANCE OF THIS DEED OF TRUST. � , , -
<br /> 10.Asstgnment of Rents.Truswr hereby assigns to Lender,and grants Lender a socurity 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 nght to coltect and retain such rents,issues and profits as they become due and payable.Upon the orxurrence of an Event of . , :_-�_
<br /> ' ` 4efault,Lender may,either in persan or by agent,with or without bringing any acdon or proceeding,or by a receiver appointed by a � "f�
<br /> oourt and without regard to ffie adequacy ot its securiry,enter upon and take possession of the Property,or any paR thereof,in its own ,.�`�,�' -'�'
<br /> � name or in the name of the Trustee, and do any ac45 which it deems necessary or desirable to preserve the value,markefability or . -�-`�-��-
<br /> rentabiliry of the Property,or any part thereof or interest tharein,or ta increase the fncome therefrom or protect the security hereof and, � �� r�•.;:'-�—
<br /> with or without taking possession of the Property.sue for or otherwise coltect the rents,issues and profits thereof,including those past ' _� " �-
<br /> � ;'Z �;,;�� -
<br /> due and unpaid,by notifying tenants to make payments to Lender.Lender may appty rents,issues and profits,less costs and expens- . .�,&,j��: �'
<br /> ; es of operation and collecdon induding attomey's fees,to any indebtedness secured hereby,all in sucl�order as lender may deter- �� : s .
<br /> mine.The entering upon and taking possession of the Property,the collecUon of such rents,issues and profits,and the appliqtion � . - �-. ���
<br /> �: � -
<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 •. � �j • �.. '.: : .
<br /> default or pursuant to such notice of default and, notwithstanding the continuance in possession of the property or the wllection, . „ , .. , •;, `;` —
<br /> receipt and appliption of rertts,issues or profits.Trustee and Lender shalt be entiUed to exerGse every right provided for in any of the . . � �''
<br /> Loan Instruments or by law upon occurrence of any Event of Default,including withou4 timttation the right tn exercise the power of sale. , •" '
<br /> Further,Lender's rights and remedies under this paragraph shall be cumutative witfi,and in no way a limitatlon on.Lenders rights and • ; �� '
<br /> � remedies under any assignment of leases and rents recor�ed against the Property.Lender,Trustee and the receiver shall be liable to . : _ �
<br /> account only for those rents actually received. ,;:xd= '.: �
<br />. . 11.Events of Detault.The following shall constitute an Event of Default under this Deed of TrusG • _ :;�'. . -
<br />' (a)Failure to pay any instaltment of principat or interest or any ather sum secured hereby when due; `�- , _:
<br /> : '� .
<br /> (b)A breach of or defautt under any provision contatned in the Note,this Deed of Trust,any of the Lnan Instruments,or any -� a� _ •�"
<br /> � other lien or encumbrance upon the Property; •� _ � � --�
<br /> ,�:
<br />�' (c)A writ of execuUon or attachment or any similar process shall be entered against Trustor which shall become a Ilen on t?�.�
<br /> . � the Property or any poRion thereof or interest thereln; �� ,' ;�';�' .a�n°
<br /> � (d)There shall be fited by or against Trustor or Borrower an action under any present or future tederal,stats or other statute, ,.;;;,,•. �,,,�`,;5�«
<br /> � law or regulaUon retating to bankruptcy,insolvency or other rellef for debtora;or there shaA be appolnted any Wstee,recelver or :.�;;,_�.3 _
<br /> tiquldator of Trustor or Borrower or oi all or any part oi the Property,or the rents,issut+s or proflts thereot,or Trustor or Borrower . . . `
<br /> shall make any general assignment for the benefit oi creditors; �'{�' ���-
<br /> (e)The sate.UansTer,lease,assignment,conveyance or further encumbrance of all or any part of or any Interest in the ,M;�� ` —
<br /> Property,either vo!untarily or invofuntarily,v►tithout the express wdtten consent of Lender,provided that Trustor shall be permit- --.,;-, �_ _
<br /> � ! ted to execute a lease ot the Property that doea not contafn an option to purchase and the term of which does not exceed one '' °'•����-_.y
<br />, �;T• �r-�-.:
<br /> _ ye8r . '� .ai.. !�.Ti.�'r-'.'"'�r' -__
<br /> = (�Abandonment of the Property;or . `�'.�' [�-'°
<br /> ' (gj It Trustor is not an individual,the issuance,sale,transfer,assignment,conveyance or encumbrance ot rtwre than(if a
<br /> � corporaUon)a total of percent of its issued and outstanding stock,or(if a partnership)a total of per- • �•-: 1 "'
<br /> cent of partnership Interests,or(if a limited liability company)a total of percent oi the limited tiability compa- ; • .�'��•
<br /> ny interests or voUng rights during the period this Deed oi Trost remains a l ien on t he prope r ty. ,
<br /> 12.Remedles;Accaleration Upon Oefault In the event of any Event oi Qefault Lender may,without noUce except as required , ���•
<br /> by law,declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payabte wlth- :�d a�:.r�.4v�.• � �
<br /> , out any presentment,demand,protest or notice oi any kind.Thereafter Lender may: :
<br /> (a)Oemand that Trustee exercise the POWER OF SALE grante0 hereln,and Trustee shafl thereafter puse Tnrstors lnter- •.t �
<br /> est in the Property to be sold and the proceeds to be disUibuted,all in the manner provlded in the Nebraska Trust Deeds Act; _
<br /> � (b)Exerclse any and all righta provlded for in any of the Loan InsWments or by taw upon occurrence oi any Event of
<br /> Default:and
<br /> ( (c)Commence an action to torectose this Deed oi Trust as a moRgage,appoint a receiver,or spec+ficalty enforce any oi lhe •
<br /> covenants hereot. '
<br /> No remedy hereln cnnferted upon or reserved to Trustee or Lender is intended to 6e exGusive of any other remedy herein,in the Loan
<br /> • Instruments or by law pmvided or permitted,but each shall be cumulative,shall be in addiUon to every other remedy given hereunder, . ' �
<br /> . In the Loan InsWments or now or hereafter exlsting at Iaw or in equity or by statute,and may be exercised concurrenUy,independently . .
<br /> or succesivety. ' � •
<br /> . 13.Trustee.The Trustee may resign at any time without cause,and Lender may at any time and without cause appoint a suo- • . `�•
<br /> cessor or subsUtute Trustee.T�ustee shall not be tlabte to any party,including wlthout Umitation Lender,Borrower,Tnutor or any pur- : , ..
<br /> chaser of the Propetty,tor any loss or damage un less due to reckless or wlllful misconduct,and shall not be requlred to take any action
<br /> in connecUon with the enforcement oi this Deed oi Trust unless indemnifled,in writing,for all costs,compensation or expenses whicb . �
<br /> may be associated therewith. In additlon,Trustee may become a purchaser at any sale of the Property Qudiciat or under the power of
<br /> sate granted herein�;postpone the sale of all or any portion ot the Property,as provided by law:or sell the Property as a whote.or in �`;
<br /> separate parcels or lots at Trustee's discreUon. . `"-"
<br /> • 1 14.Fees and Expenses.In the event Tnistee sells the PropeRy by exercise of po�nrer of sale.T�ustee shall be entitled to apply f • . : s
<br /> I any sate proceeds first to payment of alf cosis and expenses oi exercising power of sale,inGuding aII Trustee's fees,and Lender's and I
<br /> { Trustee's attomey's fees, actually incurred to entent permitted by applicable 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 all costs and expenses actually incuRed as � �
<br /> � a result of Trusto�s default,including without IimitaUon alt Trustee's and attomoy's tees,to the extent permiKed by applicable law. �--
<br /> 15. Future Advances.Upon request of Borrower,Lender may,at its option, make addiUonal and fulure advances and read- �
<br /> vances to Borrowec Sucn advances and readvarrces,wiii�inierest thereon.sha11 be sec::r�d by ihis Dssd of Tnist.At no time shan the � . _ __
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