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<br />J. Events of Default: Any of the following events shall be deemed an event of default
<br />under this Deed of Trust:
<br />1. Any default or a term or condition within the Promissory No�ke which this Deed of
<br />Trust secures;
<br />2. TRUSTOR has, at any time within negotiations leading to the execution of this Deed
<br />of Trust, given any materially false, misleading, or inaccurate information or
<br />statements, which induced the BENEFICIARY to loan money and enter into this
<br />Security Instrument;
<br />3. TRUSTOR shall have failed to perform any covenant required by TRUSTOR to be
<br />performed herein. BENEFICIARY may elect to give TRUSTOR written notice of any
<br />failure of TRUSTOR to perform covenants hereunder, after which TRUSTOR shall
<br />have 30 days after such written notice from BENEFICIARY to TRUSTOR to perform.
<br />However, the BENEFICIARY is not obliged to give this notice as the TRUSTOR is
<br />responsible to perform the covenants, herein, without notice;
<br />4. TRUSTOR shall have failed to pay any money as required in the Promissory Note
<br />which is secured by this Deed of Trust, on or before 15 days after such payment of
<br />money is required; or
<br />5. TRUSTOR shall have not made any attempt at conveyance, assignment, pledge,
<br />transfer or encumbrance of any of its interest in the premises during the term of the
<br />loan secured herein.
<br />K. Acceleration Upon Default & Additional Remedies: Should an event of default occur,
<br />BENEFICIARY may declare all indebtedness secured hereby to be due and payable and the same
<br />shall thereupon become due and payable without any presentment, demand, protest, or notice of
<br />any kind. Thereafter, BENEFICIARY may:
<br />1. Either in person or by agent, with or without bringing any action or proceeding or by a
<br />receiver appointed by a court and without regard to the adequacy of trust properly, enter
<br />upon and take possession of the Property, or any part thereof, in BENEFICIARY'S own
<br />name or in the name of Trustee, and do any acts which BENEFICIARY deems necessary
<br />or desirable to preserve the value, marketability or rentability of the Property, or any part
<br />thereof, or interest therein; increase the income therefrom or protect the trust property
<br />hereof, and with or without taking possession of the Property, sue for or otherwise collect
<br />the rents, issues and profits thereof, including those, past due and unpaid, and apply the
<br />same,. less costs and expenses of operation and collection, including attorney's fees, if
<br />permitted, on any indebtedness secured hereby, all in such order as BENEFICIARY may
<br />determine. The entering upon and taking possession of the Property, the collection of
<br />such rents, issues and profits and the application thereof shall not cure or waive any
<br />default or notice of default hereunder, or invalidate any act done in response to such
<br />default or pursuant to such notice of default and, notwithstanding the continuance in
<br />possession of the Properiy or the collection, receipt arid application of rents, issues or
<br />profits, Trustee or BENEFICIARY shall be entitled to exercise every right provided for in
<br />the Deed of Trust or Note, or by law on occurrence of any event of default, including the
<br />right to exercise the Power of Sa1e;
<br />2. Commence an action to foreclose this Deed of Trust as a mortgage, to seek deficiency on
<br />the indebtedness after foreclosure, to appoint a receiver, and to otherwise specifically
<br />enforce any of the covenants or provisions hereof;
<br />3. Deliver to Trustee a written declaration of default and demand for sale, and a written
<br />notice of default and election to cause TRUSTOR's interest in the Property to be sold
<br />ttnder the Power of Sale contained herein, which notice to Trustee shall cause to be duly
<br />filed for record in the appropriate official records of the courity where the trust property is
<br />located, all to the extent required by applicable law. Neither the BENEFICIARY nor
<br />Trustee is obliged to give the TRUSTOR any written notice, upon the election of the
<br />Power of Sale, except the statutory "Notice of Default" required by Neb.Rev.Stat.
<br />76-1006; and, no language in this Deed of Trust shall be interpreted to the contrary.
<br />4. Expend such sums as BENEFICIARY deems necessary to protect the Property and cure
<br />any default of the TRUSTOR;
<br />5. Exercise all rights and remedies available to BENEFICIARY under the Nebraska Trust
<br />Deeds Act.
<br />L. Foreclosure Using Power of Sale: Should BENEFICIARY elect to foreclose by exercise
<br />of the Power of Sale herein contained, BENEFICIARY shall notify Trustee and shall deposit
<br />with Trustee.this Deed of Trust and the Note and such receipts and evidence of expenditures
<br />made and secured hereby as Trustee may require.
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