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201207641
<br /> DEED OF TRUST
<br /> Loan No: 81001263 (Contlnued) Page 5
<br /> Insolvency. The dissolution or termination of Borrower's or Trusior's existence as a going busfness, the insolvency
<br /> of Borrower or Trustor, the appointment of a receiver for any pari of Borrower's or Trustor's property, any
<br /> assigninent for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding
<br /> u:nder any bankruptcy or insolvency laws by or against Borrower or Trustor.
<br /> Creditor or Forfeiture Proceedings. Commencement of fioreclosure or forFeiture proceedings, whether by judicial
<br /> proceeding, self-help, repossession or any other method, by any creditor of Borrower or TrusYor or by any
<br /> governmental agency against any property securing the Indebtedness. This includes a garnishment of any of
<br /> Borrower's or Trustor's accounts, including deposit accounts, with Lender. However, this Event of Default shall
<br /> not apply if there is a good faith dispute by Borrower or Trustor as to the validity or reasonableness of the claim
<br /> which is the basis of the creditor or forfeiture proceeding 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 breach by Borrower or Trustor under the terms of any other agreement between
<br /> Borrower or Trustor and Lender that is not remedied witfiin any grace period provided therein, incPuding without
<br /> limitation any agteement concerning any indebtedness or other obligation of Borrower or Trustor to Lender,
<br /> wFiettier existing now or later.
<br /> Events Affecting Guarantor. Any ofi the preceding events occurs with respect to any guarantor, endorser, surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party
<br /> dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br /> Indebtedness..
<br /> Adverse Change. A material adverse change occurs in Borrower's or Trustor's financial condition, or Lender
<br /> believes the prospect ofi payment or performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed ofi Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of tne following rignts 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 alI Indebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shall thereupon become due and payable without any ptesentment, demand, protest or notice ofi 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 o�r in�Yhe name of Trustee, and do any acts which it
<br /> d�eems necessary or desirable to preserve the value, marketability or renta:bility 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, wiYh or without taking possession of the Property, sue fior or otherwise collect the
<br /> rents, issues and profits of the Property, including those past due and unpaid, and apply the same, Iess
<br /> costs and expenses of operation and collection attorneys' fees,to any indebted�ess secured by this Deed
<br /> of Trust, alI in such order as Lender may determine. The entering upon and taking possession of the
<br /> Propeety, the collection of such rents, issues and profits, and the application thereof sha❑ not ctire� or
<br /> waive any default or notice of defauit under this Deed of Trust or invalidate any act done in response to
<br /> such default or pursuant to such notice of de#ault; 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 entitled to exercise every right provided for in the Note or the Related Documents or by law upon the
<br /> occurrence of any event ofi default, including the right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoini a receiver or specifically
<br /> enforce any of ihe covenants hereofi;and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a wriiten notice of default
<br /> and election to cause Trustor's interest in the Property to be sold,which notice Trustee shall cause fo be
<br /> duly fiiled for record in tne appropriate offices of the County in which the Property is located; and
<br /> (d) With respect to all or any part ofi the Personal Property, Lender shall have alI the rights and remedies
<br /> of a secured party under tne N�ebraska Unifiorm Commercial Code.
<br /> Foredosure by Power of Sale. If Lender elects to fioreclose 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 sucn receipts
<br /> and evidence of expenditures made and secured by this Deed of Trust as Trustee may requi�e..
<br /> (a) Upon receipt of such notice from Lender, Ttustee s:hall cause to be recorded, publisned and delivered.
<br /> to Trustor such Notice of Default and Notice ofi Sale as tnen required by law and�by tnis Deed of Trust.
<br /> Trustee shall, witnout dem�and on Trustor, after such time as may then be �equired by Iaw and after
<br /> recordation of such Notice of Default and after Notice of Sale having been given as required by faw, sell
<br /> the Property at the time and place of sale fixed by it in such Notice ofi 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 time
<br /> of sale. Trustee shall deliver io 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 im�plied. The
<br /> recitals in such deed of any matters or facts shall be conclusive proof of the truthfutness thereofi. 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 costs of evidence of title in connection with sale,Trustee shall apply 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, induding but not limited to accrued interest and late charges, (iil all other sums then
<br /> secured hereby, and (iii)the remaindet,ifi any,to the person or persons legally entitled thereto.
<br /> (c) Trustee may in the manner ptovided by law postpone sale ofi all or any portion of the Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> performance of any indebtedness or obligations secured by this Deed of Trust and to exercise aIl rights and powers
<br /> under this Deed of Trust, under the Note, under any of the Related Documents, or under any other agreement or
<br /> any laws now or hereafter in force7 notwithstanding, some or all of such inde6tedness and obligations secured by
<br /> this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed ofi trust, pledge, lien,
<br /> assignment or otherwise. Neither the accepiance of this Deed ofi TrusY nor its enforcement, whether by court
<br /> action or pursuant to the power of sale or other powers contained in this Deed of Trwst� shall prejudice or in any
<br /> manner affect Trustee's or Lender's right to realize upon or enforce any other security now or hereafter held by
<br /> Trustee or Lender, it being agreed that Trustee and Lender, and each of them,shall be entitled to enforce this Deed
<br /> of Trust and any other security now or hereaiter held by Lender or Trustee in such order and manner as they or
<br /> either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or
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