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201207758 DEED OF TRllST Loan !Vo_ 81001065 (Coti$inued) Page 5 that may materially affect any of Borrower's or any Grantor's property or Borrower's� abiliiy to repay the Indebtedness or Borrower's or Grantor's ability to perform their respective obligations under this Deed of Trust or any of the Related Documents. � False Statements. Any warranty, representation or statement made or fiurnished to Lender by Borrower or Trustor or on 8orrower's or Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or m7sleading at any time thereafter. Defective Collateralization. Tnis Deed ofi Teust or any of the Related Documents ceases to be in full fiorce and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. Death or Insolvency. The death of Borrower or Trustor,the insolvency of Boreower or Trustor, the appointment of a receiver for any part of Borrower's or Trustor's property, any assignmeni for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Trustor. � Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, selfi-help, repossession or any other method, by any creditor of Borrower or Trustor or by any governmental agency against any property securing the lndebtedness. This indudes a garnishment of any of Borrower's or Trustor's accounts, induding deposit accounts, with Lender. However, this Event oi Default shall not apply if there is a good faith dispute by Borrower or Trustor as to the validity or reasonableness of the c9aim which is the basis of the creditor or forfeiture proceeding and if Borrower or Trustor gives Lender written notice ofi the crediior or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute. Breach of Other Agreement. Any breach by Borrower or Trustor under the terms of any other agreement between Borrower or Trustor and Lender th9t is not remedied within any grace period provided therein, includ:ing witnout limitation any agreement concerning any indebtedness or other obligation of Borrower or Trustor to Lender,. whether existing now or Iater. Events Affecting Guarantor. Any ofi the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party ofi any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the validity of, or iiability under, any Guaranty of the Indebtedness. Adverse CFiange. A material adverse change occurs in Borrower's or Trustor's financial condition, or iender believes the prospect of payment or performance of the Indebtedness is impaired. Insecurity. Lender in good faith believes itself insecure. RIGHTS A11l.D REMEDIES ON DEFAULT. If an Event ofi Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender may exercise any one or more of the foliowing rights and remeHies: Acceleration Upon Default;Additional Remedies. If any Event of Defauli occurs as per the terms of Yhe Note secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall tf�ereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may: (a) Either in person or by agent, w�th or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy ofi its security, enter upon and take possession of the Property, ar any part thereof, in its own �ame or in the name of Trustee, and do any acYs which it deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part of the Property or interest in the Property; increase the income from tF�e Property or protect the securiYy of the Property; and, with or without taking possession of the Property, sue for or otherwise collect the rents, issues and profiits of the Property, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection attomeys' fees, to any indebtedness secured by this Deed of Trust., aLl in such order as Lender may determine. Tne entenng�upon and talcing possession of the Property, the collection of such rents, issues and profits,. and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust or invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the continuance in possession ofi the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall be entitled to exercise every right provided for in tne Note or the Related Documents ar by law upon the occurrence of any event of default, including the right to exercise the power of sale� (b) Commence an action to fioreclose tF�is Deed of Trust as a mortgage, appoi:nY a receiver or specifii�cally enforce any of the covenants hereof;and (c} Deliver to Trustee a written decfaration of default and demand for saie and a written notice of default and election to cause Trustor's interest in the Property to be sold,which notice Trustee shall cause to be duly filed for record in the appropriate offices ofi the County in which the Property is located; and (d) With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the Nebraska Uniform Commercial Code. Foredosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale nerein contained, Lender shal�l notify Trustee and shall deposit with Trustee Yhis Deed ofi Trust and the N.ote and such receipts and eviden.ce of expentlitures made and secured by this Deed�ofi Trust as Trustee may require. (a) Upon recei�pt of such notice from Lender,Trustee shail cause to be recorded,. published and delivered to Trustor such Notice of Defiault and Notice oF Saie as then required by law and 6y this Deed of Trust. Trustee shall, without demand on Trusaor, after such time as may then be required by 1aw and after recordation of such Notice of Default and after Notice of Sale having been given as requfred by law, sell tne Ptoperty at Yhe time and place ofi safe fixed 'oy it in such I�fotice ofi Sale, either as a whoie, ar in separate lots or parcels or items as Trustee shall deem expedient, and i�n such order as it may cietermine, at public auction to the highest bidde�r fior cash in lawful money of�the United States payable at ihe time of sale. Trustee shail deliver to such purchaser or purchasers thereof its good and sufificient deed or deeds conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shafl be conclusive proof of tne truthfulness thereof. Any person, including without limitation Trustor,Trustee,or Lender, may purchase at such sale. (b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, incLuding costs of evidence of title in connection with sale,Trustee shall apply the proceeds of sale to payment of (i) afi sums expended under the terms of fhis Deed of Trust or under the terms oi the Note not then repaid, including but not limited to accrued interest and fate charges,. (i;} aii other sums then. secured hereby, and (iii) the remainder, ifi any,to the person or persons legally entitled thereto. (cj Trustee may ir the manner provided by law postpone sale ofi all or any portiorz ofi the Property.