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<br /> 'Proceeds')in conneciion with condemnation or other taking of the Property or part thereof,or for convA�ice in�e�u o�e7ffnation. . ' ;`�
<br /> _� Lender shall be entiled at its option to Cummence,appear in an d prosecu t e i n i t s ow n n a m e a ny a d i o n o r p ro c e e d i n g s,a n d s h a l l a l s o j' ' , _
<br /> be enGtled to make any comprom�se or setUement in connection with such taking or damage.In the evesit any porti�n of the Property is �.
<br /> �^i:�^^ �dasr,ag�,..^. L�r.�,.,,.� s�z!!h.avs�h9 opion in�ts sole and ahcolute discxetion, to aonly all such nroceeds. aRer deducting �.
<br /> � .,.. ....r. . ' -- --. . —-
<br /> . ..�c.�... �� s.. .� ' ....u.1 hv it�n rnnnartinn.uifh glrh Pr�cor,�$.�M,�a��;.,�onrarrnogc eAr�lrari hwreby and in suah . . . .
<br /> . _
<br /> a�'ic�cuvn.o..w"w.^..^...°..X'.:....°...°C..:.^.,^,..........� ._-'�"'•_ -_.. ..._ _ � ...- _'_- ` . i ,. . .-.
<br /> order as Lender may determine,or to apply all such Proceeds,after such deducUons,to the restoratipn of the Propsrty upon such mn- � ; � ;�
<br /> di�ons as Lender may detertnine.My application of Proceeds to indebtednes�shall not extend or postpone the due date of any pay- � � � -
<br /> ments under the iVote,or cure any dafault thereunder or hereunder.Any unapplied funds shall be paid to Trustor. � •'�
<br /> 8.Perforenance by Lendec Upon the occurtence of an Event of Default hereunder,or rf any act is taken or legal proceeding E� _ � =--
<br /> commenced which materially affects Lenders interest in the Property.Lender may in its orm discretion,but without obligatian to do so, � ..' , � :
<br /> and without notice to or derr�and upo�Trustor and vrithout releasing Trustor from any obtigation,do any act which Trustor has agreed •
<br /> � but failed to do and may also da any other ad it deems necessary to protsct the security hereof Trustor shall, immediately upon �'
<br />- demand therefor by Lender,pay to Lender all costs and expenses mcurred 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 shatl be added to � . .
<br /> the indebtedness secured hereby.Lender shall not incur any IiabElity because of anything it may do or omit to do hereunder. ' .
<br /> 9. Harardous Materials.Trustor shall keep the Psoperry m comptiance with aIl applicable laws,ordinances and regulatians � : � ' :
<br /> r6lating to industrial hygiene or envirorimental protection(collectively referred to herein as'Environmentat Laws7. 7rustor shall keep , � . . .'
<br /> the?raperty irea t�rr aI!:ahs!s.^.c��+,„se*;°c!���°�a�a•d^�,�° ^•azi�un�s 3.^.,�r.vi:cr.m�n�!Za:rs,ccl;ECtivcly:�i�:s:;d t�hereisx --------- :,
<br /> as"Hazardous Materials").Trustor hereby warrants and represents to Lender that there are�o Hazardous Matenals on or under the � • �� '+-,
<br /> Properiy.Trustor hereby agrees to indemnify and hold harmless Lender,its direcinrs,officers,employees and agents,and any succes- �� . .', . ...
<br /> sors W Lenders interest,from and against any and aIl daims,damages,tosses and liabitides arising in connection with the presence, �
<br /> use,disposat or transpoR of any Hazardous Materials on,under,irom or about the Property.THE FOREGOING WARRANTIES AND � • " '� :�;,..-. �
<br /> REPRESENTATIONS, ANU TRUSTOR'S OlSLI(iA 1 IGN� F'Ut�SiIAN t TG THE FOREGOi�iG iNDENi?ViT'�, SSiALL Stfi2ViVc - ---'�;r=='='�
<br /> �... . . _
<br /> RECONVEYANCE OF THIS DEED OF TRUST. � ' , . ... • -
<br /> " 10./lssFgnment of Rents.Trustor hereby assigns to Lender,and grants Lender a security interest in,all present,future and � , • .x
<br /> after arising rents,issues and profrts of the Properiy:provided that Tn�stor shall.un61 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 peison or by agent,with or without bringing any action or proceeding,or by a receiver appointed by a � - -.
<br /> ' court and without regard to the adequacy of its securiry,enter upon and take possession of the Property,or any part thereof,in its own : _ �;�,:�;,;t
<br /> • name or in the name of the Trustee,and do any acts which it deems necessary or desirable to preserve the value,ma�icetability or , .
<br /> rentabiliry of the Property,or any part thereof or interest therein,or to inaease the income therefrom or protect the security herenf and, ' ��' =
<br /> • with or without taking possession of the Properiy,sue for or othenrrise collect the rents,issues and profits thereof,induding those past .�• �� .�� �
<br /> due and unpaid,by notifying tenants to make payments to Lender.Lender may apply rents,issues and profiis,less cosGs and expens- .�-;�:_��.,
<br /> •- es of operatlon and collection including atfomeys fees,to any indebtedness secured hereby,all in such order as b.ertder may deter- �� �°�•� j
<br /> " mine.The entering upon and taking possession of the Property,the collection of such rents, issues and profits,and the appticatlon . . '' '
<br /> Nereof as aforesaid shalt not cure or waive any default or notice of default hereunder or invatidate any act done in response to such � ``�; �;�• . `: '; �
<br /> default or pursuant to such notioe of default and, notwithstanding the conUnuance in possession of the property or the collecdon, � • = ' .
<br /> reoeipt and apptiqtlon of rents,issues or profits,Tnistee and Lender shall be entiUed to exercise every right provided for in a�y of the � • ;•_���.
<br /> ' � Loan Instruments or by law upon occuRence of any Event of Default,inGuding without IimitaGon the rlght to exercise the power ot sale. � .� ��� - � �
<br /> �' •. ;�,, ..
<br /> Further,Lenders rights and remedies under this paragraph shall be cumutaGve wlth,and in no way a limitation on.LendePs rights and .�gi?�.-
<br /> 'remedies under any assignment of leases and rents r�corded against the Property.Lender,Trustee and the receiver shall be Iiable to � . �� •
<br /> : account only for those rents actualty recelved. � `�l
<br /> 11.Events of Dofault The foltowing shall constitute an Event of Detautt under this Deed of Trust ' -
<br /> -.i (a)Failure to pay any installmant of principal or interest or any other sum secured hereby wfien due; __, ._. � �.. i
<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 altachment or any similar process shall be entered against Trustor which shall become a tien on � f�;-r
<br /> ` the Properiy or any portion thereof or interest therein; :.�:ti... • ,� �
<br /> � ,•. -
<br /> • � (d)There shall be filed by ar against Trustor or Borrower an action under any present or future tederal,state or other statute. _, ��:.��
<br /> � Iaw or regulaUon relatlng to bankruptcy,Insotvency or other retief fnr debtors;or there shall be appointed any trustee,receiver or • ?S;:�'� ��_.
<br /> tiquidator of Trustor or Borrower or of aIt or any part ot the Property,or the rents,issues or profits thereof,ar Trustor or Borrowar • ��._�•.--
<br /> � shall make any general assignment for the beneflt of creditors: �' .
<br /> (e)The sale,trans(er, lease,assignm�nt, conveyance or further encumbrance of all or any paR of or any interest in the , / ��,_Q_
<br /> • Property,either voluntarity or involuntariry,without thd express written consent ot Lender,provided that Trustor shall be permit-
<br /> ' ted to execute a lease of the Property that do�s not contaln an ontlon to purchase and tho term oi whlch does not exceed one . �'~�T�.`�
<br /> year, � ,;_'=��- _�-
<br /> (fy Abandonment of the Property:or .. �
<br /> • (g)Ii Trustor is not an individual,the issuance,sale,Vanster,assignmen�conveyance or encumbrance ot more than(if a �.•±�.�
<br /> � corporaUon)a total of percent oi its issusd and outstanding stock,or('rf a partnership)a totat ot per- . . �_. Q
<br /> cent oi partnership interests,or(if a Iimited Iiability company)a total of percent of the timited Iiability compa- . .
<br /> • ny interests or voting rights during the pedod this Daed of Trust remains a lien on the property.
<br /> 12.Remedias;Acceferation Upon Detaul�In the event ol any Event of Oefault Lender may,without notice except as required . ..
<br /> by law,declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable with- ' �
<br /> c�*any presentment,demand,protest or notice oi any kind.Thereafter Lender may: .
<br /> (a)Demand that Trustee exerdse the pOWER OF SALE granted herein,and Trustee shall thereafter cause Trusto�s inter- �
<br /> est(n the Property to be sotd and the proceeds to be disUibuted,all in the manner provided in the Nabraska Trust Deeds Act; • • .'
<br /> (b) Exerclse any and aIl rlghts provfded for in any ot the Loan Instruments or by law upon occurrence of any Evant of �
<br /> Detault;and
<br /> (c)Commence an action to foreclose this Deed oi Trust as a mortgage,appoint a receiver,or speciflcally eniorce any of the ' � : -
<br /> covanants hereot. .
<br /> No remedy herein conferred upon or reserved to Trustee ot Lender is intended to be exGusive ot any other remedy herein,in the Loan •� .
<br /> InsUuments or by law provided or permitted,but each shall be cumulafive,shall be in additlon to every other remedy given hereunQer. �
<br /> in the Loan Instruments or now or hereafter exlsting at law or in equity or by statute,and may be exercis�d concunentty,independenUy
<br /> or suCCesively.
<br /> 13.T►ustee.The Trustee may resign at any time without cause,and Lender may at any time and without cause appoint a suc- •.
<br /> cessar or subsUtute Trustea.Trustee shall not be Ilable to any party,inGuding without IimitaUon Lender,Borrowar,Trustor or any pur- • •
<br /> chaser of the Propsrty,tor any loss or damage untass due to reckless or willful misconduct,and shall not be required to take any actlon
<br /> in connection with the enforcement of this Deed ot Trust unless indemnified,in wnting,for all costs,compensation or expenses which l �_
<br /> may be assoaated therewith.In addition,Trustee may become a purchaser at any sale of the Property(judlcial or under the power oi I _
<br /> sate granted herein);postpone the sale of all or any portion of the Property,as provided by taw:or seN the Property as a whole,or in -
<br /> ) separate parcels or lots at Trustee's discretion. � ,
<br /> 1 14.Fees and Expenses.In the event Trustee selts the Property by exercise of power oi sale,Trustee shalt be entitled to apply f '
<br /> 1 any sale proceeds first to payment of all costs and expenses of exercising power of sale,including alI Trustee's fees,and Lender's and
<br /> Trustee's attome}�s tees, actually incurred to extent pertnitted by applicable law.In the event Borrower or Trustor exercises any right -
<br /> � provided by Iaw to cure an Event oi Default,Lender sAall be antitled to recover from Trustor all costs and expenses actually incurred as :
<br /> � a result of Trusto�'s default,inctuding without limitation all Trustee's and attomey's tees,to the extent pertnitted by appticable law. � � , _
<br /> 15. Future Advanee�.Upon request oi Borrower.Lender may.at its option, make additional and future advances and read-
<br /> • � vances to Horrower.Such advances and readvances,with interest thareon,shalt be secured by this Deed of Trust.At no time shall the � � , _
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