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201207740
<br /> DEED OF TRUST
<br /> Loan No: 87001748 (Continued) Page 5
<br /> Defective Collateralization_ This Deed of Trust or any of the Related Documents ceases to be in fu❑ force and
<br /> effect (including faflure ofi any collateral document to create a valid and perfected security iMerest or lien) at any
<br /> time and for any reason.
<br /> Death or Insolvency. The death ofi Trustor,the insolvency of Trustor,the appointment of a receiver for any part of
<br /> Trustor's property,. any assignment for the benefit 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 Forfeiture Proceedings_ Commencement of foreclosure or fiorfeiture proceedings, whether by judicial
<br /> proceeding, seff-help, repossession or any other metnod, by any creditor of Trustor or by any governmental agency
<br /> against any property securing the Indebtedness. This includes a gamishmeni ofi any of Trustor's accounis,
<br /> including deposit accounts, witn Lender. However, this Event of Defauli shall�not apply if there is a good faith
<br /> dispute by Trustor as to the validity or reasonableness ofi the claim which is the basis of the creditor or forFeiture
<br /> proceeding and if Trustor gives Lender written notice ofi 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 discretiion, as being�an adequate reserve or bond for the dispute.
<br /> Breach of Other Agreement_ Any breach by Trustor under the terms ofi any other agreement between Trustor and
<br /> Lender that is not remedied within any grace period provided therein, including without limitation any agreement
<br /> concerning any indebtedness or other obligation ofi Trustor to Lender, whether existing now or later.
<br /> Euents Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br /> or accommodation party of any of the Indebted�ness or any guarantor, endorser, surety, or accommodation party
<br /> dies or becomes incompetent, or revokes or disputes the validity of, or liabifity undee, any Guaranty ofi the
<br /> Indebtedness.
<br /> . Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lendet believes the
<br /> prospect of 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 of Trust, at any time thereafter,
<br /> T�ustee or Lender may exercise any one or more of the following rights and remedies:
<br /> Acceleration Upon Default;Additional Remedies. If any Event of Defiault occurs as per the terms ofi 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 tnereupon become due and payable without any presentment, demand,. protest or notice of any
<br /> kind. Thereafter, Lender may:
<br /> (a) Eitner 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 ofi its security, enter upon and take possession
<br /> of the Property, or any part thereof, in its own name or in the name ofi 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 security of
<br /> the Property; and, with or without taking possession of the Property, sue fior or otherwise collect the
<br /> rents, issues and profits ofi the Property, including Those past due and unpaid, and. apply the sarne, less
<br /> costs and expenses of operation and collection attorneys' fees,to any indebtedness secured by this Deed
<br /> ofi Trust, all in such order as Lender may determine. The entering upon and taking possession of the
<br /> Property, the collection of sucn rents, issues and profits, and the application thereofi shall not cure or
<br /> waive any default or notice of default under this Deed ofi Trust or invalidate any act done in response to
<br /> such defiault or pursuaM to such notice ofi default; and, notwithstanding the continuance in possession of
<br /> the Property o�the collection,. receipt and appli.cation 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 ihe right to exercise the power of sale;
<br /> (b) Commence an action to fioreclose this deed ofi Trust as a mortgage, appoint a receiver or specifically
<br /> enforce any of the covenants hereof; and
<br /> (c) Deliver to Trustee a written declaration of default and demand fior 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 appropriate ofifices ofi the County in which the Property is located; and
<br /> (d) With respect to aIl or any part of the Personal Property, Lender shall have all the righrts and remedies
<br /> of a secured party under the Nebraska Uniform Commercial Gode.
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power ofi Sale herein contained,
<br /> Lendet 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 6y this Deed ofi Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause io be recorded, published and delivered
<br /> Yo Trustor such Notice of Default and Notice of Sale as then required by law and by this Deed of Trust.
<br /> Trustee shall, witnout demand on Trustor, after such time as may tnen 6e required by Iaw and after .
<br /> recordation of sucn Notice ofi 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, either as a whole, or in
<br /> separate lots ot parcels or items as T�ustee�shall deem expedient, and in such order as it may determine,
<br /> at public auction to�the highest bidder for cash in lawfiul money of the United States payable at the time
<br /> of sale. Trustee shall daliver to 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 implied. The
<br /> recitals in such deed of any matters or fia�cts shall be conclusive proof of the iruthfulness thereof. Any
<br /> person, including without limitation Trustor,Trustee, or Lender, may purchase at such sale.
<br /> (b) As may be permitted by Iaw, after deducting all costs, fees and expenses ofi Trustee and of this
<br /> Trust, induding costs of evidence of title in connection with sale,Trustee shall apply the proceeds ofi 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, (ii) all otner sums tnen
<br /> secured hereby, and (iii) the remainder, if any,to the person or persons Iegally entitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion ofi tne Property.
<br /> Rernedies Not Euclusive. Trustee and Lender, and each of them, shall be entitled to enfiorce payment and
<br /> performance of any indebtedness or obligations secured by this Deed of Trust and to exeecise all rignYs and powers
<br /> under this Deed of Trust, under tFie Note, under any of ttie Related Documents, or under any otner agreernent or
<br /> any laws now or hereafter in force; notwithstanding,some or all of such indebtedness and obligations secured by
<br /> this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br /> assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement, whether by court
<br /> action or pursuant to the power of sale or other powers contained in this Deed of Trust, 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 /> Trusfee or Lender,it being agreed that Trustee and Lender,and each ofi them, shall be entitled to enforce this Deed
<br /> of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
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