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201200159
<br /> DEED OF TRUST
<br /> Loan No: 810121 (�Otltlllued) Page 5
<br /> Indebtedness or Borrower`s or Grantor's ability to perform their respective obligations under this Deed of Ttust or
<br /> any of the Related Documents. �
<br /> False Statements. Any warranty,represerrtation ar statement made or fumished to Lender by Borrower or Trustor
<br /> or on Borrower's or Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in
<br /> any material respect, either now or at the time made or furnished or becomes false or misleading at any time
<br /> thereafter.
<br /> Defective Collateralization. This Deetl 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 or lien} at any
<br /> time and for any reason.
<br /> � Deafh or Vnsolvency. The dissolution or termination of Borrower's or Trustor's existence as a going business,the
<br /> insolve�cy of Borrower or Trustor,the appointment of a receiver for any part of Borrower's or Trustor's property,.
<br /> any assignment for the benefit of creditors,any type of credimr workout,or the commencement of any proceeding
<br /> under any bankruptcy or insolvency laws by or agai�nst Borrower or Trustor.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br /> proceeding, self-help, repossession or any other method, by any creditor of Borrower or Trusior or by any
<br /> governmental agency against any property securing the Indebtedness. This includes a garnishment of any of
<br /> Borrower's or TrustoPs accounts, including deposit accounts,with Lender. However,this Event of Default shall . �
<br /> not apply if tliere is a good faith dispute by Borrower or Trustor as to tf�e validity or reasonableness of the claim
<br /> � which is the basis of the creditor or forfeiture proceading and if Borrower or Trustor gives Lender written notice of
<br /> the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture
<br /> proceeding,in an amount determined by Lender,in.its sole discretion,as being an adequate reserve or bond for the
<br /> dispute.
<br /> Breach of Other Agreement. Any 6reach by Borrower or Trustor under the terms of any other agreement between
<br /> Borrower or Trustor and Lender that is not remedied within any grace peeiod provided therein,including without
<br /> limitation any agreement concerning any indebtedness or other obligation of Borrower or Trustor to Lender,
<br /> whether existing now or later. .
<br /> Events Affecting Guaranfor. Any of the preceding events occurs with respect to any Guarantor of any of the
<br /> Indebtedness or any Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability
<br /> under,any Guaranty of the Indebtedness. .
<br /> Adverse Change. A material adverse change occurs in Borrower's or Trustor's financial condition, or Lender
<br /> believes the prospect of payment or performance of the Indebtedness is impaired. �
<br /> Insecurity. Lender in good faith believes itself insecure. �
<br /> 6cisting Indebtedness�. The payment of any installment of principal or any interest on the Existing Indebtedness is
<br /> not made within the time required by the promissory note evideneing such indebtedness,or a default occurs under
<br /> � the instrument securing such indebtedness and is not cured during any applicable grace periotl in such i�strument,
<br /> � or any suit or other action is commenced to toreclose any existing lien on the Property. .
<br /> RIGFffS AND REMEDIES�N DEFAULT. If an Event of Default occurs under this Deed of Trust,aY any time Yhereafter,
<br /> Trustee or Lender may exercise any one or moee of the following rights and remedies:
<br /> Acceleration Upon Default:AddiEional Remedees. If any Event of Default occurs as per the terms of the Note
<br /> secured hereby,�ender may declare all Inde6tedness secured by this Deed of Ttust to 6e due and payable and
<br /> the same shall thereupon become due and payable without any presentment,demand,protest or notice of any
<br /> klnd. Thereafter,Lender may:
<br /> (a) Etther in person or by agent, with or without 6rmging 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 desireble to preserve the value,marketability or rentability of the Property,or part of
<br /> the Property 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 collect the
<br /> rents,issues and profits of the Property,including those past due and unpaid,and apply the same, less
<br /> cost5 and expenses of operation and collection attorneys'fees,to any indebtedness secured by this Qeed
<br /> � of Trust, all 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 default or notice of default under this Deed of Trust or invalidate any act done in response to
<br /> such default or pursuant to such�otice of defiault;and,notwithstanding the continuance in possession o#
<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 provided fot�in the Note or the Related Documents or by law upon the
<br /> occurrence of any event of default,including the right to exercise the power of sale;
<br /> . (b) Commence an action to foreclose this Dead 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 shall cause to be �
<br /> duly filed for record in the appropriate offices of the CQUnty in which the Property is located;and � �
<br /> (d) With respect to all or any part of the Personal 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 notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts
<br /> and evidence of expenditures made and secured 6y 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 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 by law and after
<br /> recordation of such Notice of Default and after Notice of Sale having been given as required by law,sell
<br /> the Property at the Yime 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 bidder for cash in lawful money of the United States payable at the ti�me
<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 matters or facts shall be condusive proof of the truthfulness 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,induding costs of evidence of title in connection wi2h sale,Trustee shall a�pply the proceeds of sale
<br /> to payment of (i)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 and late cF�arges, �i1 atl other sums then
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