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201207755
<br /> DEED OF TRl1ST
<br /> Loan 9Vo_ 5100'11'15 (Cont9n4.1ed) Page 5
<br /> effect (including faifure of any collaterai document to create a valid and perfected security interest or lien) at any
<br /> time and for any reason.
<br /> Death or Insoivency. The death of Borrower or Trusto�,the insolvency o#Borrower or Trustor, the appointment of
<br /> a receiver for any part of Borrower`s or Trustor's property, any assignment for the benefit of creditors, any type of
<br /> creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against
<br /> Borrower ot Trustor.
<br /> Creditor or Forfeiture Proceedings_ Commencement of foreclosure or forfeiture proceedings, whether by judicia�l
<br /> proceeding, selfi-help, repossession or any other method, by any creditor ofi Borrower or Trustor or by any
<br /> governmental agency against any property securing the indebtedness. This includes a garnishment of any ofi
<br /> gorrower'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 ifi gorrower or Trustor gives Lender written notice of
<br /> the creditor or forfeiture proceeding:and deposlts with Lender monies or a surety bond fqr the crediYor or forfeiture
<br /> proceeding, in an amount determfned 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 ather agreement between
<br /> Borrower or Trustor and Lender that is not remedied within any grace period provided therein,. including without
<br /> limitation any agreement concerning any indebtedness or other obligation of Borrower or Trustor �to Lender,
<br /> whether existing now or later..
<br /> Events Affecting Guarantor. Any of the precedi:ng events occurs with respect to any guarantor, endorser, surety,
<br /> or accommodaiion 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 financiai condition, or Lender
<br /> believes ihe 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 of Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the foilowing rights and remedies;
<br /> Acceleration Upon Default: Additionat Remedies_ If any Event of Default occurs as per the terms of the Note
<br /> secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and
<br /> tne same shall thereupon become due and payable without any preseniment, 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 thereo€, 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 tne income from the Property or protect the security of
<br /> tne Property; and, with or without taking possession of the Property, sue for or othenn�ise collect the
<br /> . rents, issues and profiits of the Property, onciud�.ing those past due and unpaid, and appiy the same, less
<br /> costs and expenses of operaYi�on and collection attorneys'fees,to any indebtedness secured 6y this Deed
<br /> of Trust, all in such ortler as Lender may determine. The entering upon and taking possession ofi the
<br /> Property, the collection of such rents, issues and profits, and the application thereof snall not cure or
<br /> waive any default or notice of defiault under this Deed of Trust or invalidate any act done in response to
<br /> such defiauk 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 entitled to exercise every right provided fior in Yhe Note�or the Related Documents or by law upon the�
<br /> occurrence of any event of default,induding the right to exercise the powe�r of sale• �
<br /> (b) Commence an action to foreclose tnis Deed of Trust as a mortgage, a.ppoint a recetver or specifically
<br /> enfiorce any of the covenants hereof;and�
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default
<br /> and election to cause Trustor's interest in the Property to be sold, whicn notice Trustee shall cause io be
<br /> duly filed for record in tne appropriate ofifices oi the County in which the Property is located; and
<br /> (d) Wiih respeet to a!I or any part ofi the Personal Prope�rty, Lender shail nave all the rights and remedies
<br /> of a secured.party under the Nebraska Uniforrn Commercial Code.
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein containeci,
<br /> Lender shall notify Trustee and shall deposi't with Trustee this Deed of Trust and the N��ote and such receipts
<br /> and evidence o#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 recoPded,. published�and delivered
<br /> ro Trustor such Notice of Defiault 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 tnen be requi�red by law and after
<br /> recoYdation of sucn 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 ofi Sale, either as a whole, or in �
<br /> separate lots or parcels o.r items as Trustee shall deem expedi�ent, and in such order as it may determine,
<br /> at public auctio�n to the highest biddcr for cash in lawfiul money of the United States payabte at the time
<br /> � of sale. Trustee snall deliver to such purchaser o�r purchasers thereof its good and sufficient deed o�r
<br /> deeds conveying the property so sold, but without any covenant or warranty, express or impiied. The
<br /> recitals in such deed ofi any matters or facts shalf be conclusive proofi of the truthfulness thereof. Any
<br /> person, induding without limitation Trustor,Trustee, or Lender, may purchase at such sale.
<br /> (b) As may 6e permitted by law, after deducting all costs, fees and expenses of Trustee and ofi this
<br /> Trust, induding costs ofi evidence ofi title in connection with sale,Trustee shall apply the pro.ceeds of sale
<br /> to payment ofi (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 noY limited to accruetl interest and late charges, (ii) all other sums then
<br /> secured hereby, and (ii�i) the remainder;if any,to the person or persons legally entitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale ofi all or any portion of tYie Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> perfiormance�of any indebtedness or obligations secured by this t7eed of Trust and to exercise all rights and powers
<br /> under this Deed of Trust, under ihe Note, under any of the Related Documents, or under any other agreement 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 ar hereafter be otherw'rse 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 /> ac'tion 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
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