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201201359
<br /> DEED OF TRUST
<br /> Loan No: 10001582 (Continued) Page 5
<br /> . Defective Collateralizaiion. 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 or Iien1 at any
<br /> time and for any reason.
<br /> Death or Insolvency. The death.of Borrower or Trustor,the insolvency of Borrower or Trustor,the appointment of �
<br /> a receiver for any part of Borrower's or Teustor's property,any assignment for the benefit of creditors,any type of
<br /> creditor workout,or the commencement of any proceeding under any bankrupfcy or insolvency laws by or against
<br /> Borrower or Trustor.
<br /> Taking of the Property. Any creditor or govemmental agency tries to take any of the Property or any other of
<br /> Borrower's or Trustor's property in which Lender has a lien. This includes taking of,gam�shing of or levying on
<br /> Borrower's or Trustor`s accounts with Le�der, However,if Borrower or Trustor disputes in good faith whether the
<br /> claim on which the taking of the P�operty is based is valid or reasonable,and if Borrower or Trustor gives Lender
<br /> written notice of the claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the
<br /> claim,.then this default provision will not apply.
<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 therein, induding without
<br /> limitation any agreement concerning any inde6tedness or other obligation of Bortower or Trustor to Lender,
<br /> whether exisYing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respecY to any guarantor,endorser,surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor, endorser,surety, or�ccommodation party
<br /> dies or becomes incompetent, or revol<es or disputes the validity of, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> Insecurity. Lender in good faith believeg itself insecure.
<br /> Existing Indebtedness. The payment of any insYallmeM of principal or any interest on the Existing Indebtedness is
<br /> not made within the time required by the promissory note evidencing such intlebted'ness,or a default occurs under
<br /> the instrument securing such indebtedness and is not cured during any appltca6le grace period in such instrument,
<br /> or any suit or other action is commenced to foreclose any existing lien on the Property.
<br /> Right to Cure. If any default,other than a default in payment is curable and if Trustor has not been given a notice
<br /> of a breach of the same provision of this Deed of Trust within the preceding twelve(12)months,it may be cured if�
<br /> Trustor, after Lender sends written notice to Borrower demanding cure of such defiauk: (1) cures the default
<br /> within twenty(20)days;or (2) if the cure requires more fhan twenty(20)days,immedia�efy initiates ste�ps which
<br /> Lender deems in Lender's sole discretion to be suffcient to cure the default and thereafter continues and
<br /> completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonahly prectical.
<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 riglits 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 secu�ed by this Deed of T�ust to be due and paya6le and
<br /> the same shall thereupon become due and payable without any presentment,demand,protest or notice of any
<br /> kind. Thereafter,Lender may:
<br /> (a) Either 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 rentability of the Property,or part of
<br /> the Property or interest in the Property;increase the income from the Property or protect the securi'ry 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 appiy the same,less
<br /> costs and expenses of operation and�collection attorneys'fees,to any inde5tedness secured by this Deed
<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 notice of default;and,notwithstanding thz 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 provfded for in the Note or the Related�ocuments or by law upon the
<br /> occurrence of any event of default,including the right to exercise the power of sale;
<br /> (b1 Commence an action to foreclose this Deed of Trust as a mortgage,appoint a receiver or specifically
<br /> enforce any of tfie covenants hereof;and
<br /> Ic) Deliver to Trustee a written declaration of default and demand for sale and a weitten notice of default
<br /> and election to cause Trustor's interest in the Property to be sold,which notice Trustee shall cause ta be
<br /> duly filed for record in.the appropriate offices of The County in which the Property is located;and
<br /> (d) With respect to all or any part of the Personaf Property,Lender shall have alI 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 6y 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 by this Deed of Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause to be recorded,pubiished 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 time and place of sale fixed by it in such Notice of Sale, aither as a whole, or in
<br /> separate lots or parceis or items as Trustee shail 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 lJnited States payable ai the time
<br /> of sale. Trustee shali deliver to such puichaser or purchasers thereof its good and sufficient deed or
<br /> deeds conveying fhe 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,including eests of evidence of title in connection with sale,Trustee shall apply the proceeds of sale
<br /> to paymenY of (i)all sums expended under the terms of this Deed of Trust or under the terms of the Note
<br /> not then repaid,induding but not limited to accrued interesY and late charges, (ii) aU other sums then
<br /> � secured hereby,and Iiii)the remainder,if any,to the person or persons legally entitled thereto.
<br /> (c) Trusiee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedies Not 6cclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> performance of any indentedness or obligations secured by this Deed ofi Trust ar.d to exercise all rights and powers.
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