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201201039
<br />DEED OF TRUST
<br />(Continued) Pa�e 5
<br />Payment Default BoROwer fails to make any payment when due under the Indebtedness.
<br />Other Defaults. BoROwer or Tnastor fails to comply with or to perform any other term, obi(gaUon, covenant or
<br />condition contained in this Deed of Trust or in any of the Related Documents ar to comply with or to perFoRn any
<br />term, obligation, covenant or condiUon contained in any other agreement between Lender and Borrower or Trustor.
<br />Compllance Default Failure to comply with any other term, obligation, covenant or condition coritained in this
<br />Deed of Trust, the Note or in any of the Related Documents.
<br />Default on Other Payments. Failure of Trustor within the time required by 4his Deed of Trust to make any payment
<br />for taxes or insurance, or any other payment necessary to prevent fliing of or to effect discharge of any lien.
<br />Environmental Defauk. Failure of any party to comply with or pertorm when due any term, obligation, covenant or
<br />c�ndition contained in any environmental agreement executed in connection with the Property.
<br />Default In Favor of Thlyd Partles. Should Borrower or any Grantor default under any loan, extension of credtt,
<br />security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person
<br />that may materially affect any of BorrowePs or any Grantor's property or Borrower's ability to repay the
<br />Indebtedness or Borrowe�'s or Grantor's ability to �rform their respective obligations under this Deed of Trust or
<br />any of the Related Documents.
<br />False Statements. Any warranty, representation or statement made or fumished to Lender by Borrower or Trustor
<br />or on Borrower's or Trustor's behaif 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 fumished or becomes false or misleading at any time
<br />thereafter.
<br />Defective Collateralization. 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 securiry interest or lien) at any
<br />time and for any reason.
<br />Death or Insolvency. The dissolution or termination of BoROwers or Trustor"s existence as a going business, the
<br />insolvency of Borrower or Trustor, the appointment of a receiver for any part of Borrower's or Trustors property,
<br />any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding
<br />under any bankruptcy or insolvency laws by or against Borrower or Trustor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclasure or forfeiture proceedings, whether by Judicial
<br />proceeding, self-help, repossessfon or any other method, by any creditor of BoROwer or Trustor or by any
<br />govemmental agency against any property securing the Indebtedness. This includes a garnishment of any of
<br />BoROwer's or Trustor's accounts, including deposlt accounts, with Lender. However, this Event of Default shall
<br />not apply if the�e is a good fafth dispute by BoROwer or Trustor as to the validity or reasonableness of the daim
<br />which is the basis of the creditor or forfeiture proc�eding and if Borrower or Trustor gives Lender written notice of
<br />the creditor or forfeiture proceeding and deposits with Lender monfes or a surely 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 breach 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 period provided therefn, including withoui
<br />IimitaUon any agreement conceming any indebtedness or other obligation of Borrower or Trustor to Lender,
<br />whether existing now or later. �
<br />EveMs Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br />or accommodaUon party of any of the Indebtedness or any guarantor, endorser, surety, or accommedatlon party
<br />dies or becomes incompetent, or revokes or disputes the validiry of, or liability under, any Guaranty of the
<br />Indsbtedness.
<br />Adverse Change. A material adverse change occurs in Bomowers or Trustor's financial condidon, or Lender
<br />believes the prospect of payment or pertormance of the Indebtedness is impaired.
<br />Insecurity. Lender fn good faith believes itself insecure.
<br />Right to Cure. If any default, other than a default in payment is curable and if Trustor has not been given a noUce
<br />of a breach of the same provision of this Deed of Trust w(thin the preceding twelve (12) months, it may be cured if
<br />Trustor, after Lender sends written notice to BoROwer demanding cure of such default: (1) cures the defauit
<br />within twenry (ZO) days; or (2) if the cure requires more than twenty (20) days, immediately initiates steps which
<br />Lender deems in Lenders sole discreUon to be sufficient to cure the default and thereafter continues and
<br />completes all reasonable and necessary steps sufficfent to produce compliance as soon as reasonably pracUcal.
<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 all Indebtedness secured by this Deed of Trust to be due and payable and
<br />the same shall thereupon become due and payable without any presentment, demand, protest or noUce of any
<br />kind. Thereafter, Lender may:
<br />(a) Efther in person or by agent, with 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 desirable to preserve the value, marketability or rentabflity of the Property, or part of
<br />the Property or interest in the Property; increase the income from the Properly 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 />costs and expenses of operation and collection attomeys' fees, to any indebtedness secured by this Deed
<br />of Trust, all in such order as Lender may deteRnine. 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 notice of default; and, notwithstanding the conUnuance in possession of
<br />the Property or the collection, receipt and application af rents, issues or profits, Trustee or Lender shall
<br />be entiUed to exercise every right provided for in the Note or the Related Documents or by law upon the
<br />occurrence of any event of default, including the right to exerase 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 deciaration of default and demand for sale and a written notice of default
<br />and elecUon to cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to be
<br />duly flled for record in the appropriate offlces of the County 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.
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