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201209012
<br /> DEED OF TRaJST
<br /> Loan No; 81001486 (COn$inuec!) Page 5
<br /> Borrower's or Trustor's accounts, including deposit accounts, with Lender. However, this Event of Defiault 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 if Borrower or Trustor gives Lender written notice ofi
<br /> the creditor or forfeiture proceeding and deposits with Lend�er monies or a surety bond fior the creditor or forfeiture
<br /> proceeding, in an amount determined by Lende:r, in its sole discretion, as being an adequate reserve or bond fior 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 that is not remedied within any grace period provi.ded therein, including withouY
<br /> limitation any agreement concerning any indebtedness or �other obligation of Borrower or Trusior to Lender,
<br /> whether existing now or later..
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respecY to any guarantor, endorser, surety,
<br /> or accommodation party of any of Yhe Indebtedness or any guarantor, endorser, surety, or accommodation party
<br /> dies or becomes incompetent, or revokes or disputes the validity ofi, or liability under, any Guaranty ofi the
<br /> Indebtedness.
<br /> Adverse Change_ A material adverse change occurs in Barrower's or Trustor's financial condition, or Lender
<br /> believes Yhe prospect of payment or performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itselfi insecure.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs undet this Deed of Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the following rignts and remedies: .
<br /> Acceleration Upon Default;Additional Remedies. If any Event of Default occurs as per the terms of the Note
<br /> secured hereby, Lender may declare a❑ fndebtedness seeured by this Deed of Trust to be due and payable and
<br /> the same shall thereupon become due and payable without any presentment, demand or protest of any kind.
<br /> Thereafter,Lender may:
<br /> (a) Eithee i.n person or by agent, with o:r 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 Propeny, or any part thereof, 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 Properiy or interest in the Property; increasa the.income from the Property or protect the securiYy of
<br /> the Property; and, with or without taking possessi�on of the Property, sue for or otherwise collect the
<br /> rents, issues and profits of tne Property, including those pas[due and unpaid, and� apply the same, less
<br /> costs and expenses of operation and collection attorneys' fees,to any i�ndebtedness secured by this Deed
<br /> of Trust, all in such order as Lender may determine_ The entering upon and taking possession of the
<br /> Property, tne collection of such rents, issues and profits, and the application thereof shall not cure or
<br /> waive any default or notice of default under this Deed of T�ust or invalid�ate any act done in response to
<br /> such defauJt 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 for in the Note or the Related Documents or by law upon tne
<br /> occurrence of any event of defiault, including the right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust 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 defiault and demand fior sale and a written notice ofi default
<br /> and election Yo 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 offices of the County in which the Property is located;and
<br /> (d) With respect to all or any part of fhe Personal Property, Lender shall have all the rights and remedies
<br /> of a secured party under the Nebraska.Uniform Cornmercial 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 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 recorded, published and delivered
<br /> to Trustor such Notice of Default and Notice ofi Sale as then required. by Iaw and by this Deed of Trust.
<br /> Trustee snall, witnout demand on Trustor, after such time as may then be required by law and after
<br /> recordation ofi such Notice of Default and after Notice ofi Sale having been given as required by Iaw, 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 or parcels or items as Trustee shall deem expedient, and in such order as it may determine,
<br /> at public auction to the highest bidder for cash in Iawful money of the United States payable at the time
<br /> of sale. Trustee shall deliver to such purchaser oe purchasers thereofi its good and sufficient deed or
<br /> deeds conveying [he property so sold, but withoui any covenant or warranty, express or implied. The
<br /> recitals in such deed of any matters or faets shall be conclusive proof of the truthfulness thereof. Any
<br /> person, including without limitation Trustor,Trustee,or Lender, may purchase at such sale.
<br /> (b) As may be pe.rmitted by law, after deducting all costs, fees and expenses of Trustee and of this
<br /> Trust, including costs of evidence of title in connection with sale,Trustee shall apply the proceeds of sale
<br /> to paymen#of (i) all sums expended under the terms of this Deed of Trust or under the terms ofi the Note
<br /> not then repaid, incfuding buY not limited to accrued interest and Iate charges, (ii) all other sums then
<br /> secured hereby, and (iii) the remainder, if any,to th�person or persons legally entitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of alI or any po�tion of tne Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entiYled to enforce payment and
<br /> performance of any indebtedness or obligations secured by th�is Deed of Trust and to exercise all rignts and powers
<br /> under this Deed of Trust, under the Note, under any of the Relaied Documents, or under any other agreement or
<br /> any laws now or hereafter in force; notwithstanding, some o�all of such indebtedness and obligations secured by
<br /> this Deed of Trust may now or hereafter be oiherwise seeured, whether by mortgage, deed of trust, pledge, Iien,
<br /> assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enfiorcement, whether by court
<br /> action or pursuant to #he power of sa[e or other powers con-[ained in this Deed ofi Trust, shall prejudice or in any
<br /> manner affect Trustee's or Lender's right to realize upon� or enforce any other security now o�r hereafte�r held by
<br /> Trustee or Lender, it being agreed that Trustee and Lender, and ea�ch of 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
<br /> either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or
<br /> Lender, is intended to be exclusive ofi any other remedy in thus Deed of Trust or by law provided or permitted, but
<br /> each shall be cumulative and shall be in addition to every other remedy given in this Deed of Trust or now or
<br /> hereafter existing at law or in equity or by statute_ Every po�nrer or remedy given 6y the Note or any ofi the Related
<br /> Documents to Trustee or Lender or to which either of tFnem may be otnerwise entitled, may be exercised,
<br /> concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Lender,
<br /> and either of them may pursue inconsistent remedies. Nothing in this Deed ofi Trust shall be construed as
<br /> prohibiting Lender from seeking a deficiency j.udgment against the Ttustor to the extent such action is permitted by
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