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<br /> � � -proceeds'in connection with contlemnation or other taking of the Property or part thereof,or for conveyance�in lieou o con e,m�nation. .
<br /> � ; Lender$han be entitled at its oRhon to commenca,appear in and prosecute in its o+xn name any action or proceedings,and shall also - --k:'�
<br /> � _ �.
<br /> be entitied to make any compramise or settlement in connecLOn with sucii taking or damar�a-!^!he ev°ni any portion of tt�e Property is '„
<br /> ; so taken or damaged. Lender shall have the option in +ts sole and absolute discxetion, to appiy all such proceeds, after deducting [F� ,_ ::.
<br /> �..:.:.. „e,..�,w�r►,���� o c un�n any mdebtedness secured hereby and in such L ` • � _
<br /> tfiereNom atl costs ano expenses incuriuu'�r�.�..x.z.......e..r..._...--h. roceai.. -----� "v
<br /> ' order as Lender may detarrr�ins,or u,aF.;,:r s!!s��.�h?m�eds,after such deduc�ions.to the restoraUon of the Proper'iy upon such mn- _ � '�-6
<br /> �.-. . .
<br /> ditions as Lender may determine.Any appiication of Proceeds to indebtedness shall not extend or postpone the dus date ot any pay- -
<br /> � ments under the Note,or cure any defauit thereun�er or hereunder.Any unapplied funds shall he paid to Trustor. , ...�
<br /> nt of Default hereunder, or if any ac[ is taken or legal proceeding �... . _
<br /> - 8. Performance by Lender.Upon the occurrence of an Eve , _
<br /> commenced which materialty affects Lender's interest in[he Property.Lender may in its own discretion,but without obtigation to do so. E �
<br /> and�vithout notice to or demand upon Trustor and withoui releasing Trustor from any obligation,do any act whicfi TrustQr has agreed � ,
<br /> ` but failed to do and may also do any other act it deems necessary to protect the security hereof. 7rustor shali, immediately upon p
<br /> ; demand therefor by Lender,pay to Lender ali costs and expenses+ncurred and sums expended by Lender in connection with the exer- � • � _
<br /> cise by Lender of the foregoing righLs,together with interest thereon at the defauit rate pmvided in the Mote,which shall be added to f = . __ __
<br /> the mdebtedness secured hereby.Lender sfiall not incur any liability because of anything it may do or omit to do hereunder. . < <
<br /> ' 9. Hazardous Nfaterials.Trustor shall keep the Property in compCance with all applicable laws, ordinances and regulations ,
<br /> " relaGng to indushial hygiene or ertvironmental protection(wlledively referred to herein as"Envaonmental Laws).Trustor shall keep .
<br /> � j the Property free from alI substances deemed to be hazardous or toxic under any Environmental Laws(collectively referred to herem
<br /> � ) as'Hazaroous i+na[aiia�y. Trusta•hessb;wa�nts and represents to Lender that there are no Hazardous Matenals on or under the _ �` _ _ _
<br /> Property.Trustar hereby aprees ta indemnify and hold harmless Lender,Ifs directors,officers,emptoyees and agents,and a�y��a:a�- . - -
<br /> sors to Lendars interest,from and against any and all daims,damages.losses and liabilities arising in connecdon with the presence, . , ';•. ;-
<br /> use.disposal or transport of any Hazardous Materials on,under,from or a6out the Property.THE FOREGOING ViIARRANTIES ANO ,..
<br /> - REPR�SFNTATIONS.AIVD TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE :�_;���-
<br /> -,, � RECONVEYANCE OF THIS DEED QF TRUST. �., .: � ��"���.�,
<br /> � � 10.Assignment of Rents.Trus*or hereby assigns to Lender,and grants Lendor a security interest in,all present,future and
<br /> ' �� � after arising rents,issues and profiLS of the Property;provided that Trustor shall,until the ocxurtence of an Event of Oefault,hereunder, ,�. -�
<br /> .� � have the nght 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,either in pprson or by agent,with or without bringing any action or proceeding,or by a receiver appointed by a r";.�
<br /> court and without regard to the adequacy of its security.enter upon and take possession of the Property,or any part thereof,in its own ;._ i -:
<br /> name or in the name of tha Trustee, and do any acts whtch it deems necessary or desirabte to preserve the value,marketability or , _,. ��,:,�,�_
<br /> rentabiliry of the Property,ar any part thereof or interest therein,or to increase the income therefrom or pmtect the security hereof and. ��--�•`�'
<br /> with or without taking possession of the Property.sue for or otfiervuise colled the rents,issues and profiLs thereof,including those past �
<br /> due antl unpaid,by notifying tenants to make payments to Lender.Lender may appty rents,issues and profits,less costs and expens- �..� '� •
<br /> es of opera6on and collection including attomey's fees,to any indebtedness secured hereby,all in such order as Lender may deter- �-:,����i '
<br /> mine.The entc3ring upon and taking possession of the Property. the collection of such rents, issues and profits.and the appliqtion �,.�
<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 ,.
<br /> � ! default or pursuant to such notice of default and, notwithstanding the coniinuance in possession of the property or the coltection, ' •'.�.�: .
<br /> receipt and appliption ot rents.issues or profits.Tnistee and Lender shall be entiUed to exercise every right provided for in any of the 4 � ` �� ,,. _
<br /> ' • t.oan Insbvments or by law upon occurrence of any Event of Defauft,including v�ithout Iimitation the right to exerc+se the power of sale.
<br /> Further,Lenders rights and remedies under this paragrapP�shatl be cumulaUve with,and in no way a IimitaUon on,Lende�s rights and _ �*� ; �'� `
<br /> � r e m e d i e s u n d e r a n y a s s i g n m e n t o f l e a s e s a n d r e n t s recorded a gainst the Property.Lender,Trustee and the receiver shalt be liable to � .� �M
<br /> • account only for those rents actually received. .� $' ���� �
<br /> � 1 1.E v a n t s o i Q e f a u t t Th e f o l l o w i n g s h a t l c o n s t i t u t e a n E v e n t of D efault under this Deed of Trust: ��: . 3� .
<br /> (a)Failure to pay any installment of principal or interest or any other sum secured hereby when due; ., ,. f::
<br /> � (b)A breach oi or default under any provision wntained in the Note,thls Deed of Trust,any of the Loan Instruments,or any _ '�;: .
<br /> ' other lien or encumbrance upon the Properly; �' :'"
<br /> (e)A writ of execution or attachment or any simitar proc�sss shall be entered agalnst Trustor which shafl become a Iien on :;� �,�;:_;_
<br /> s •
<br /> . the Property or any portlon thereof or interest therein; ������
<br /> • (d)There shall be filed by or against Trustor or Borrower an action under any present or future federal,state or other statute. � :, ������;:'. .
<br /> � law or regulation relaUng to bankruptey,insolveneyr or other relfei for debtors:or there shall be appointed any trustee,recetver or ---� � " �
<br /> Aquirlator of Trustor or Borrower or of all or any paR of the Property,or the rents,issues or profits thereof,or Trustor or Borrower :: �,
<br /> • shaQ make any gsneral assl8nment for the benefit of creditors;
<br /> (e)The sale, transfer,lease,asslgnment, conveyance or further encumbrance of all or any paR o1 or any interest tn the `.�_r,•�L- -
<br /> �=_;��-�.t-
<br /> � Property,either voluntarily or invotuntarily,without the express wdtten consent of Lender,provlded that Trustor shatl be pertnit- ��,�
<br /> ted to execute a lease oi the Property that does not contain an opUon to purchase and the tertn of which does nW exceed one -___:�.�.�;::
<br /> . . :�.-�rMray;,__
<br /> � year, , .
<br /> (�Abandonment of the Property;or ."��-�
<br />.' (g)If Trustor is not an individual,the issuance,sale,transfer,assignment,conveyance or encumtrrance of more than(it a
<br /> corporatlon)a total oi percen t o i i t s issu e d a n d o u t s t andin g stock,or(ii a partnership)e total of pe� •,-�»r�
<br /> cent oi partnership interests,or(N a Ilmfted liabittty company)a total oi percent of the limited Ilability compa- • '` �
<br /> �a :
<br /> ny interests or voting�ights dudng the pedod th(s Oeed of Trust remains a lien on the property �` �' . ,. , -
<br /> 12.Remsdies;Acceteration Upon Default In the event of any Event of Default Lender may,without notice exoept as required , �...�,�.;.
<br /> by law,deGare alt indebtedness secured hereby to be due and payable and the same shall thereupon become due and paya6le wlth- . ' :
<br /> . � out any presentment,demand,protest or noUce oi any kind.Thereafter Lender may: � .
<br /> (a)Demand that Trustee exercise the POWER OF SALE g�antad herein,ard Trustae shall thereafter cause Trustors inter-
<br /> est In the Property to be sofd and the proceeds bo be distrl6uted,aU in the manner provided in the Nebraska Trust Deeds Ac� .
<br /> (b)Exercise any and all rights provided tor in any oi the Loan Instruments or by law upon occurrence oi any Event of . _ _
<br /> Default;and '
<br /> (c)Ccmmence an action to foreclose this Deed of Trust as a mortgage,appotnt a receiver,or speciflcally entorce any of the . .
<br /> � cavenants hereof. . —
<br /> . . .�� j No remedy herein confeRed upon or reserved to Trustee or Lender is intended to ba excluslve of any ather remedy herein,in the Loan , �,
<br /> � InsWments or by law provided or permitted,but each shall be cumulative,shall be in addiUon to every other remeQy glven hereunder, ,
<br /> � in the Loan Instruments or now or hereafter existJng at law or in oquity or by statute,and may be exercised concurtentty,IndependenUy
<br /> or succesivaly. � �
<br /> 13.Trustee.The Trustee may resign at any time without cause,and Lender may at any time and without cause appoint a suc-
<br /> cessor or subsUtute Trustee.Trustee shall not be Ilable to any parly,including without Umltation Lender,Borrower,Trustor or any pur-
<br /> chaser of the Property,for any loss or damage unless due to recktess ar wilfful misconduct,and shall not 6e required to take any acUon _
<br /> in connecUon with the Qntorcement of this Deed of Trust unless indemn�ed,in writing,for all cosLs,compensation or expenses which _
<br /> ,.� may be associated therewith.In addition.Trustee may become a purchaser at any sale oi the Property Qudicial or unaler the powar of , _
<br /> sale granted herein);postpone the sale of alI or any pordon of the Proparty,as provided by law;or sell the Propertyr as a whoto,or in
<br /> � separate parcels or tots at Trustee's discreUon. � , '
<br /> 14.Fees and Expenses.In the event Trustee sells the Rroperty by exercise ot powar of sale.Trustee shalt be entitled to appty _
<br />� a��y sals proceeds first to payment oi all costs and expenses of exercising power of sate,including aIl Trustee's fees,and Lenders and
<br /> Trustee's attomey's fees, actually incurted to extent permitted by applicabte Iaw.In the event Borrower or Trustor exercises any right 4
<br /> provided by law to cure an Event of Default,Lender sha11 be entitled to recover trom Trustor all costs and expenses actually incurred as .
<br /> a result oi TrustoPs detault,including without limitation all Tnistee's and attomey's tees,to the extent permitted by applicable law. ,
<br /> 15. Futu�e Ad�ranees.Upon request of Borrowar, Lender may,at its option,make additional and future advances and read-
<br /> vances to Borrower.Such advances and readvances,with interest thereon,shall be secured by this Deed of Trust.At no time shall the
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