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201208230
<br /> DEED OF TRUST
<br /> Loan No: 810228 (Colltlllued) '' Page 5
<br /> any material respect, either now or at the time made or furnished or becomes false or misieading at any time
<br /> thereafter.
<br /> Defiective Coliateralization. This Deed of Trust or any of the Related Documents ceases to be in fuli force and
<br /> effec�t (induding faiiure of any collateral document to create a valid and perfected security interest or lien) at any
<br /> time and for any reason.
<br /> Death or insolvency_ The death ofi Borrower or Trustor,the insoivency of Borrower or Trustor, the appointment of
<br /> a receiver fot any part ofi 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 or Trusior.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure. or forfeiture proceedings, whether by judicial
<br /> proceeding, self-heip, repossession or any other metnod, by any creditor of Borrower or Trustor or by any
<br /> governmental. agency against any property securing tne 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 ofi the creditor or forfeiture proceedi.ng 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 tnat is not remedied within any grace period provided therein, including without
<br /> limitation any agreement concerning any indebtedness or otner obligation of Borrower or Trustor to Lender,
<br /> whether existing now or later.
<br /> Events Affecting Guaranlor_ Any of the preceding events occurs with respect to any guarantor, endorser, sureYy,.
<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 of payment or performance ofi the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itseif 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 following rights and remed7es:
<br /> Acceleration Upon Default;Additional Remedies, if any Event of Default occurs as per ihe terms of the IVote
<br /> secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shali thereupon become�due and payable without any presentment, demand, protest or notice of any
<br /> kind. Thereafter, Lender may:
<br /> (a) Either in person or by agent, witn or without bringing any action or proceeding, or by a receiver
<br /> appointed by a court and without regard io the adequacy of its�security, enter upon and take possession
<br /> of the Proper[y, or any part thereof, in its own name or in the name of Trustee, and do any acts wnich it
<br /> deems necessary or desirable to preserve tfie 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 p;otect the security ofi
<br /> the Property; and, with or without taking possession of the Property, sue for 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 ofi operation and collection attorneys' fees,to any indebtedness secured by this Deed
<br /> of Trust, all in sucn order as Lender may determine. The entering upon and taking possession ofi th�
<br /> Property, the collection of such� rents, issues and profits, and the application thereof shall not cure or
<br /> waive any default or notice of defauit under this Deed of Trust or inval5date any act do�ne in response io
<br /> such defiault or pursuant to such notice of defiault; 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 u.pon the
<br /> occurrence of any event of default,induding the right to exercise the power of sale-
<br /> (b) Commence an action to fioreclose this Deed of Trust as a mortgage, appoint a receiver or specifically
<br /> enforce any of the covenants hereof; and
<br /> (c) Deliver to Ttustee a wriYten dec[aration of default and demand for sale and a written notice of defaul[
<br /> and elecYion to cause Trustor's interesY in the Property to be sold,which notice Trustee shall cause to be
<br /> duly filed fior record in the appropriate offices ofi the County in which the Property is iocated; and
<br /> (d) With respect to all or any part of the Personal Property, Lender snali have all the rights and temedies
<br /> of a secured party under the Nebraslca Uniform Commercial Code.
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained,
<br /> Lender shall notify Trustee and shall deposit witn Trustee this Deed of Trust and the N�ote and such receipts
<br /> and evidence of expenditures made and secured by this Deed ofi Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause to be recorded, published and delivered
<br /> to Trustor such Notice of Defauit 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 then be required by law and a�Fter
<br /> recordation ofi such Notice of�Default and after Notice of Sale having been given as required by iaw, seil
<br /> the Property at the time and place of sale fixed by it in such Notice ofi Sale, either as a who�ie, or in
<br /> separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may determine,
<br /> at pubfic auction to the highest bidder for cash in lawful money of the United Siates payable at the time
<br /> of sale. Trustee shall deliver to such purchaser or purchasers thereofi its good and sufiFicient 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 facts shall be conclusive proof ofi the truthfulness thereof. Any
<br /> petson, induding wiihout limitation Trustor,Trustee, or Lender, may purchase at such sale.
<br /> (b) As may be permitted by law, after detlucting all costs, fees and expenses of Trustee and of thi�s
<br /> Trust, including costs of evidence of title in connection with sale,Trustee shall apply the proceeds of sate
<br /> to payment of (i) all sum�s expended under the terms ofi this Deed ofi Trust or under the�terms of the Note
<br /> not ihen repai�d, including but not limited to accrued interest and late charges, (ii) all oiher sums 'then
<br /> secured hereby, and (iii)'[he remainder, if any,to the person or persons legally entitied thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale oP all or a.ny portion of the Property.
<br /> Remedies Not E�cclusive. TrusYee 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 alt 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 force; notwithstanding, some or all of such indebtedness and abiigations secured by
<br /> this Deed ofi Trust may now or hereafiter be otherwise secured, whether by mortgage, deed of trus�t, pledge, lien, �
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