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� 201109475
<br /> DEED OF TRUST
<br /> Loan No: 870287 (Continued) Page 5
<br /> Defective Gollateralization_ This Deed oi Trust or any of the Related Documents ceases to be in full force and
<br /> effect(including failure of any collateral document to create a valid and perfected security interest or lien)at any
<br /> time and for any reason. �
<br /> Death or InsoNency. The death of Trustor,the insolvency of Trustor,the appoinYment of a receiver for any part of
<br /> Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, oe the
<br /> commencement of any proceeding under any bankruptcy or insolvency laws tiy or against Trustor.
<br /> Creditor or Porfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br /> proceeding,self-help,repossession or any other method,by any creditor of Trustor or 6y any govemmental agency
<br /> against any property securing the Indebtedness. This includes a garnishment of any of Trustor's accounts,
<br /> including deposit accounts, with Lender. However,this Event of Default shalf not apply if there is a good faith
<br /> dispute by Trustor as to the validity or reaso�ableness of the daim which is the basis of the credimr or forfeiture
<br /> proceeding and if Trustor gives Lender written notice of the creditor or forfeiture proceeding and deposits with
<br /> . Lender monies or a surety bond for the creditor or forfeiture proceeding,in an amount determined by Lender,in its
<br /> sole discretion,as being an adequate reseroe or bond for the dispute.
<br /> Breach of Other Agreement. Any breach by TrusTOr under the terms of any other agreement between Trustor and
<br /> Lender that is not remedied within any grace period provided therein,induding without limitation any agreement
<br /> concerning any inde6tedness or other obligation of Trustor to Lender,whether existing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor,endorser,surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor,endorser,surety, or accommodation party
<br /> dies or 6ecomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty ofi the
<br /> Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the
<br /> prospect of payment or performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust,at any time thereafter;
<br /> Trustee or Lender may exercise any one or more of the following rights and remedies:
<br /> Acceleration Upon Default;Additional Remedies. If any Event of Default occurs as per the terms of the Note
<br /> secured hereby,Lender may declare alI Indebtedness secured 6y this Deed�of Trust to be due and payable and
<br /> the same shall thereupon become due and payable without a�y presentment,demand,protest or notice of any
<br /> kind. Thereafter,Lender may: �
<br /> ta) Either in person or by agent, wkh or without bringing any action or proceeding, or by a receiver
<br /> appointed by a court and without regard to the adequacy of its security,enter upon and take possession
<br /> of the Property,or any part thereof,in its own name or in the name of Trustee,.and do any acts which it
<br /> deems necessary or desira6le to preserve the value,marketability or rentability of the Property,or part of
<br /> the Properiy or interest in the Property;increase the income from the Property or protect the security of
<br /> the Property; and, with or without taking possession of the Property, sue for or otherwise coliect the .
<br /> rents,.issues and profits ef the Property,including those past due and uqpaid,and apply the same, less
<br /> costs and expenses of operation and collection attorneys'fees;to any indebtedness secured by this Deed
<br /> of Trust, all in such order as Lender may determine. The entering upon and taking posses�.sion of the
<br /> Property, the collection of such rents, issues and profits; and the appiication thereof shall not cure or
<br /> waive any default or notice of default under this Deed of Trust or invalidate any act done in response to
<br /> such deiault or pursuant to such notice of default;and,notwithstanding the continuance in possession of
<br /> the Property or the collection,receipt and application of rents,.issues or profits,Trustee or Lender shall
<br /> be entitled to exercise every righ#pcovided for in the Note or the Related DocumeMS or by law upon the
<br /> occurrence of any event�f default,including:the right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage,appoint a receiver or specifically
<br /> enforce any of the covenants hereof;and
<br /> (c) Deliver to Trustee a written declaration oF default and demand for sale and a written notice of default
<br /> and election to cause Trustor's interest in the Property to be sold,which notice Trustee shail cause to be
<br /> duly fihed for record in the appropriate oifices of the County in which the Property is located;and
<br /> (d) With respect to all or any part of the Perso�al Property,Lender shall have all the rights and remedies
<br /> of a secured party under the Nebraska Uniform Commercial Code.
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained,
<br /> Lender shall notiiy Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts
<br /> and evidence of expenditures made and secured by tiiis Deed of Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trusiee shall cause to be recorded,published and delivered
<br /> to Trustor such Notice of Default and Notice of Sale as then required by law and by this Deed of Trust.
<br /> Trustee shall, without demand on Trustor, after such time as may then be required 6y law and after
<br /> recordation of such Notice of Default and after Notice of Sale having been given as required by law,seli
<br /> the Property at the time and place of sale fiixed by it in such Noiice of Sale, either as a whole, or in
<br /> separete bts or parcels or items as Trustee shall deem expedient,and in such order as it may determine,
<br /> at public auction to the highest bidder for cash in lawful money of the United Staies payable at the time
<br /> of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or
<br /> deeds conveying the property so sold, 6ut without any covenaM or warranty,express or implied. The
<br /> recitals in such deed of any matters or facts shail be wnclusive proof of the truthfulness thereofi. Any
<br /> person,including without limitation Trustor,Trustee,or Lender,may purchase at such sale.
<br /> (6) As may be permittetl by law, after deducting all c4sts, fees and expenses of Trustee antl of this
<br /> Trust,including costs of evidence of title in connection with sale,Trustee shall apply the proceeds of sale
<br /> to payment of ii)all sums expended under the terms of this Deed of Trust or under the terms of the Note
<br /> not then repaid,including but not limited to accrued interest a�d late charges, (ii) all ofher sums then
<br /> secured hereby,.and (iii)the remainder,if any,to the person or persons legally entitled thereto.
<br /> (c) T�ustee may in the manner provided 6y law postpone sale of all or any portion of the Property.
<br /> Remedies Not F�cclusive. Trustee and Lender, and each of them, shall be entitled Yo enforce payment and
<br /> performance ofi any indebtedness or obligations secured by this Deed of Trust and to exercise all rights a�d powers
<br /> under this�eed of Trust, under the Note,under any of the Related Documents,or under any other agreement or
<br /> any laws now or hereafter in force;. notwithstanding,some or all of such indebtedness and o6ligations secured by
<br /> . this Deed of Trust may now or hereafter be otherwise secured,whether by mortgage,deed of�trust,pledge,lien,
<br /> assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement, whether by court
<br /> action or pursuant to the power of sale or other powers contained in this Deed of Trust,shall prejudice or in any
<br /> manner affect Trustee's or Lender's right to realize upon or enforce any other security now or hereafter held by
<br /> Trustee or Lender,it bei�g agreed that TTUStee and Lender,and each of them,shall be entitled to enforce this Deed
<br /> of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
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