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201208896
<br /> DEED OF TRUST
<br /> Loan No: 81001445 (GOntinUe[0) Page 5
<br /> or on Borrower's or Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in
<br /> any material respect, either now or at the time made or furnished or becomes false or misleading at any time
<br /> thereafter.
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and
<br /> effect (including failure of any collateral document to create a valid and perfected security iMerest or lien) at any
<br /> time and fior any reason.
<br /> Death or Insolvency. The death of Borrower or Trustor,the�insolvency of Borrower or Trustor,the appoinYment of
<br /> a receiver fior any part of Borrower`s or Trustor's property, any assignment for the benefiit 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 Trustor.
<br /> Creditor or Forfeiture Proceedings. Commencement of fio�reclosure or fiorfeiture proceedings�, whether by judicial
<br /> proceeding�, selfi-help, repossession or any other method, by any creditor of Borrower or Trustor or by any
<br /> governmental agency against any property securing the Indebtedness. This includes a garnishment ofi any of
<br /> Borrower's or Trustor's accounts, including deposit accounts, witn Lender. However, tnis Event of Default shall
<br /> not appiy 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 credi'tor or forfeiture proceed.ing and if Borrower or Trustot gives Lender written notice of
<br /> the creditor or forfeiture proceeding and deposits witn Lender monies or a surety bond for tne creditor or forfeiture
<br /> proceed�ing, 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 terrns of any other agreement between
<br /> Borrower or Trustor and Lender�that is not remedied within any grace period provided therein, i�ncluding without
<br /> limitation any agreement concerning any indebtedness or other obligation of Borrower or Trusior to Lender,
<br /> whether existing now or later.
<br /> Events Affecteng Guarantor_ Any ofi the preceding events occurs with respect to any guarantor, endorser, surety,
<br /> or accommodati.on party ofi any of the Indebtedness or any guarantor, endo�ser, 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 fiinancial condition, or Lender
<br /> believes the prospect of payment or perform�ance 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 Ttust, at any time tnereafter,
<br /> Trustee o�Lender may exercise any one or more ofi the following ri�ghts and remedies:
<br /> Acceleration Upon Default:Additional Remedies. Ifi 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 /> the same shall 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, 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 or in the name of Trustee, and do any acYs 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 witnout taking possessi�on ofi the Property, sue for or otherwise colfect the
<br /> rents, issues and profits ofi the Property, including tnose past due and unpaid, and apply the same, less
<br /> costs and expenses of operatio�n and collection attorneys' fees,to any indebtedness secured by this Deed
<br /> of Trust, allin such order as Lender may determine. The entering upon and taking possession of the
<br /> Property, the collection of such rents, issues and �rofits, and the application thereof shall not cure or
<br /> waive any defiault or notice of defiault under this Deed of Trust or invalidate any act done in response to
<br /> such default or pursuant to sucn notice of default; and, notwithsYanding the continuance i.n 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 of default, including the right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of lrrust as a mortgage, appoint a receiver or specifiically
<br /> enforce any of the covenants hereof; and
<br /> (c) Deliver to Trustee a written declaration of default and.demand for sale anB 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 fiiled for record in the appropriate offices of the County in which the Property is located; and
<br /> (d) Witn respect to all or any part of the PeFsonal Property, Lender shall have all the rights and remedies
<br /> of a secured party under the Nebraska Uniform CommerciaF 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 with Trustee this Deed of Trust and the Note and such receipts
<br /> and evidence of expendiYures made and secured by this Deed of Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall ca.use to be recorded, published and delivered
<br /> to Trustor such Notice of Default and Notice ofi Sale as then required by law and by this Deed ofi Trust.
<br /> Trustee shall, without demand on Trustor, aiYer such time as may then be required by law and after
<br /> recordation of such Notice of Default and after Notice of Sale having been given as required by law, sell
<br /> the Property at the time and place ofi sale fixed by it in such Notice of 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 hignest bidder for cas��h in lawful money of the Uniied States payable at the time
<br /> of sale. Trustee snafl deliver to such purchaser or purchasers thereof iis good and. su�cient deed or
<br /> deeds conveying tne property so sold, buf without any covenant or warranty, express or implied. The
<br /> recitals in such deed of any matters or facts shall Ibe conclusive proof of the truihfulness 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 deducYing all costs, fees and expenses ofi Trustee and of ihis
<br /> Trust,induding costs ofi 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 ofi the Note
<br /> not then repaid, including but not limited to accrued interest and late charges, (ii) a❑ other sums then
<br /> secured nereby, and (iii) Yhe remainder, if any,to the person or persons legally entitled thereto.
<br /> (c) Trustee may in tne manner provided by law poskpone sale ofi all or any portion of the Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each �of them, shall be entitled to enfiorce payment and
<br /> performance of any indebtedness or obligatiorts secured by this Deed o'f Trust and to exercise all rights and powers
<br /> under this Deed of Trust, und�er the Note, under any of the Related Documents, or under any other agreement or
<br /> any laws now or hereafter in fiorce; notwithstanding, some a�r all of such indebtedness and obligations secured by
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