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201200047
<br /> DEED OF TRllST
<br /> Loan No: 810232 (Continued) Page 5
<br /> Grantor's obligations under this Deed of Teust or any of the Related Documents.
<br /> False Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on
<br /> Trustor's behalf under this Deetl of Trust or the Related Documents is false or misleading in any material respect,
<br /> either now or at the time made or furnished or becomes False oe misleading at any time thereafter.
<br /> ❑efective Co0lateralization. This Deed of 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 ar lien)at any
<br /> tPme and for any reason.. �� .
<br /> fnsol�ency. The dissolution or termination of Trustor's existence as a going business,the insolvency of Trustor,
<br /> the appointment of a receiver for any part of Trustor's property, any assignment for the benefit of creditors, any
<br /> type of crediEOr workout,or the commencement of any proceeding under any bankruptcy or insolvency laws by or
<br /> against T�ustor.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br /> proceeding,self-help,repossession or any othsr method,by any credito�r of Trustor or by any governmental 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 shall not apply if there is a good faith
<br /> dispute by Trustor as to the validity or reasonableness o#the claim which is the basis af the creditor or foffeiture
<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 6y Lender,in its
<br /> sole discretion,as being an adequate reserve 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, includinc�without limitation any agreement
<br /> concerning any indebtedness or other obligation of Trustor to Lender,whether existing now or later.
<br /> Events Affecaing Guarantor. Any of the preceding events occurs wich respect to any GuaranYOr of any of the
<br /> Indebtedness or any Guarantor dies or becomes incompetent,. or revokes or disputes the validiN of, or Iiabifiry
<br /> . under,any Guaranty of the 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 itsel{insecure.
<br /> Existing Indebtedness. The payment of any installment of principal or any interest on the Existing Irtdebtedness is
<br /> not made within the time required by the promissory note evidencing such indebtedness,or a default occurs under
<br /> the instrument securing such indebtedness and is not cured during any applica�le grace period in such instrument,
<br /> �or any suit or other action is commenced to foreclose any existing lien on the Property.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event ofi�efault occurs under this Deed ofi 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 Fiereby,Lender may declare all Irsdebtedness secured by this Deed of Trust to 5e due and payable and
<br /> the same shall thereupon 6ecome due and payable without any presentment,demand,protest or notice of any
<br /> kind. Thereafter,Lender may:
<br /> (a) Either in person or 6y agent, with or without 6ringing any action or proceeding, or by a receiver
<br /> appointed 6y a court and without regard to the adequacy of its security,enter upon and take possession
<br /> ofi the Property,or any part thereof,!�in its own name or in the name of Trustee,and do any acts which it
<br /> deerns necessary or desirable to preserve the value,marketability or renta6ility of the Property,oY part of
<br /> the Property or interest in the Property;increase the�i�come from the Property or protect the security of �
<br /> the Property; and, with or withoutftaking possession of the Property, sue for or otherwise colleci Yhe
<br /> renTS,issues and pro(ts of the Property,including those past due and unpaid,and appiy the same,less
<br /> costs and expenSes of operation and collection attorneys'fees,to any indebtedness secured by this Deed
<br /> of Trust, ail in such order as Lender may determine. The entering upon and taking possession of the
<br /> Property, the collection of such rents, issues and profits, and the application thereof shall not cure or
<br /> waive any defauli or notice of default under this Deed of Trust or invalidate any act done in response to
<br /> such default or pursuant to such notice of default;and,notwitfistand:ing 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 right ptnvided for in the Nqte or the Related Documents or by law upon the
<br /> occurrence of any evenf of default,including the right to exercise the power of sale;
<br /> lb) Commence an action to foreclose this Deed of Trust as a mortgage,appoint a receiver or specifically
<br /> enforce any ot the covenants hereof;and
<br /> (c) Deliver fo Trustiee a written declaration ofi default and demand for sale and a written notice of defauit
<br /> antl election to cause TrusYOr's interest in the Property to be sold,which'notice Trustee shalt cause to be �
<br /> � � duly filed for record in the appropriate offices tif the County in which the Property is located;and
<br /> (d) With respec't to all or any part ofi the Personal Property,Lender shall have afl the rights and remedies
<br /> ofi a secured party under the Ne6raska Uniform Commercial Code.
<br /> Foreciosure hy Pawer of Sale, If Lender elects to foreclose by exercise of the Power of Sale herein contained,
<br /> Lerder shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note a�d such receipts
<br /> and evidence of expenditures made and secured by this Deed of Trust as Trustee may require. -
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause to be recorded,published and delivered -
<br /> to Trustor such Notice of Default arid Notice of Sale as then required by law and by this Deed of Trust.
<br /> Trustee shall, without demand on Trustor, after sucli time as may then be requited by law and after
<br /> recordation of such Notice of Default antl after Notice of Sale having been given as required by faw,sell
<br /> the Property at the time and place�of sale fixed by it in such Notice of Sale, either as a whole, or in
<br /> separate lots or parcels or items as Trustee shall deem expedient,and in such order as it may determine,
<br /> at public auction to the highest 6iclder for cash i�lawfui money of the United States 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, but without any covenant or warranty, express or implied. The
<br /> recitals in such deed of any matYers or facts shail be conclusive proof of the trutAfulness thereof. Any
<br /> person,including without limitation Trustor,Trustee,or Lender,may purchase at such sale�.
<br /> (b) As may be permitted�by law,after deducting all.costs, fees and expenses oF Trustee and of this
<br /> Trust,including costs of evidence of title in connection with sale,Trustee shall apply tlie proceeds of sale
<br /> to payment of (i�all sums expended under the terms af this Deed of Trust or under the terms of the Note
<br /> not then repaid, including but not limited to accrued interest and late charges, (ii) all other sums then
<br /> secured hereby,and (iii)the remainder,if any,to the person or persons Iegally entitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property. �
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shatl be entitled to enfoYCe payment and �
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