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DEED OF TRUST 2 012 0 2 7 7 4
<br />(Continued) Page 6
<br />member withdraws from the limited liability company, or any other terminetion of Trustor's existence as a going
<br />business or the death of any member, the insolvancy of Trustor, the appointment of a receiver for any part af
<br />Trustor's property, any assignment for the beneflt of creditors, any type of creditor workout, or the
<br />commencement of any Proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br />Creditor or Forfetture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judiciel
<br />proceeding, self-help, repossession or any other method, by any creditor of Trustor or by any govemmental agency
<br />ageinst any property securing the Indebtedness. This includes a gamishment of eny of Trustor's accounts,
<br />including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good fatth
<br />dispute by Trustor es to the validity or reasonableness of the claim which is the basis of the creditor 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 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, including without limitetion any agreement
<br />conceming any indebtedness or other obligation of Trustor to Lender, whether existing now or later.
<br />Events Affecting Guararitor. Any of the preceding events occurs with respect to any Guerantor 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 materia{ edverse change occurs in Trustor's finencial condition, or Lender believes tha
<br />prospect of payment or performance of the Indebtedness is impaired.
<br />Insecurtty. Lender in good faith believes i2self insecure.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Detault occurs under this Deed of Trust, at any time thereafter,
<br />Trustee or Lender mey exercise any one or more of the following rights and remedies:
<br />Accaleratlon Upon Default; Addltional Remedies. If any Event of Default occurs as per the terms of the Note
<br />secured hereby, Lender may declare all Indebtedness aecured by this Deed of Trust to be due and payable and
<br />the same shall thereupon become due end payable without any presentment, demand, protest or nofice 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 end 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 velue, marketability or rentebility of the Property, or part of
<br />the Properry or interest in the Property; increase the income from the Properry or protect the security of
<br />the Property; and, with or without taking possession ot the Property, sue for or otherwise collect the
<br />rents, issues and profits of the Properly, including those past due and unpaid, and apply the same, less
<br />costs end expenses of operation and collection attomeys' fees, to any indebtedness 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 shalt 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 continuance in possession of
<br />the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall
<br />be entitied to exercise every right provided for in the Note or the Related Documenta or by law upon the
<br />occurrence of any event of default, including the right to exercise the pouver of sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically
<br />enforce eny of the covenants hereof; and
<br />(c) Deliver to Trustee a written declaretion of default and demend 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 eppropriete offices 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 ell the rights and remedies
<br />of e secured party under the Nebraska Un'rform 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 depoait 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 />(a1 Upon receipt of such notice ftom Lender, Trustee shall cause to be recorded, published and delivered
<br />to Trustor such Notice of Default and Idotice 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 ihen 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 sele 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 mey determina,
<br />at public auction to the highest bidder fo� cash in lawful money of the Unked States payable at the time
<br />of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or
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