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201209204
<br /> DEED OF TRIJST
<br /> Loan Noe 81001354 (Contlnued) Page 5
<br /> sole discretion, as being an adequate reserve or bond for the dispute.
<br /> Breach ofi OYher Agreement. Any breach by Trustor under the terms of any other agreement beYween Trustor and
<br /> Lender that is not remedied within any grace period provided therein, including without limitation any agreemenY
<br /> concerning any indebtedness or other obligation ofi Trustor to Lender,whether existing now o�r later.
<br /> Events Affecting Guarantor. Any of the preceding 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 materiai adverse change occurs in Trustor`s financiaf condition, or Lender believes the
<br /> � prospect of payment or perfotmance of tne lndebtedness is impaired. � �
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> RIGHTS AND REMEDIES ON DEFAULT. ff an Event of Default occuYs under this Deed of Trust, a2 any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the following rights 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 ail Indebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shall theteupon 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 witho��ut 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 tne name of Trustee, and do any acis which it
<br /> deems necessary or desirable to preserve the vaiue, marketability or rentability of the Property, ar part ofi
<br /> �the Property or interest in the Property; increase the income firom the Property or protect the security of
<br /> the Property; and, with or without taking possession of Yhe Property, sue for or otherwise coilect the
<br /> rents, issues and profits of the Property, including those past due and unpaid, and apply the sarne, less
<br /> costs and expenses of opetation and collectlon 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 of the
<br /> Property, the collectlon of such rents, issues and profits, and tne application thereof shall not cure or
<br /> waive any default or notice of default under this Deed of Trust or invalidate any act done in response to
<br /> sucn default or pursuant to such notice of defiault; and, notwithstanding the continuance in possession ofi
<br /> the Property or the collection, receipt and appiication 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 powee of sale;
<br /> (b) Gommence an action to foreclose tnis Deed of Trust as a mortgage, appoint a receiver or specifically
<br /> enforce any ofi the covenants hereof; and
<br /> (c) Deliver to Trustee a written declaration of defiault and demand for sale and a written notice ofi default
<br /> and election to cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to be
<br /> dufy 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 the Personai Property, Lender shall have ail the rights and remedies
<br /> of a secured party under the Nebraska Uniform Commercial Gode.
<br /> . Foreclosure by Power of Sale. If Lender elecis to foredose 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,Trusiee shall cause to be recorcied, published and defivered
<br /> to Trustor such Notice of Default and Notice of Sale as then required by law and by this �eed of Trust.
<br /> � Trustee shall,. without demand on Trustor, aftee such time as may then be required by law and after
<br /> recerdation.of such Notice of Defiault and after Notice of Sale h:aving been given as required 6y iaw, sell
<br /> the Property at the time and place of sa7e fiixed by it in such Notice of Sale, eitii.er as a whole, ar in
<br /> separate fots 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 lawful money of the United States payable at the time
<br /> of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficieni 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 condusive proof of the truthfulness thereof. Any
<br /> person, including without limitation Trustor,Trustee, o:r Lender, may purchase at such sale.
<br /> (b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this
<br /> Trust, induding costs of evidence ofi title in connection with sale,.Trustee shall applythe proceeds�of sale
<br /> to payment of (i) all sums expended under the terms of this Deed of Trust or under ihe terms of the Note
<br /> not then repaid, inciuding but not iimited to accrued interest and late charges, (ii) al! other sums then
<br /> secured hereby, and (iii) the remainder, if any,to the person or persons iegally entitied thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion ofi Ihe Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitied to enforce payment and
<br /> performance of any indebtedness or obligations secured by this Deed of Trust and�to exercise all righis and powers
<br /> under this Deed of Trust, untle�the Note, under any of the Related Documents, or under any other agreement or
<br /> any laws now or hereafter in fiorce; notwitnstanding, some or all of such indebtedness and obligations secured by
<br /> this Deed ofi Trust may now or hereafter be otherwise 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 /> action or pursuant to the power ofi sale or other powers contained in this Deed ofi Trust, shall prejudice or in any
<br /> martner affect Trustee's or Lender's right to realize upon or enforce any other security now or hereafter held 6y
<br /> Trustee or Lender, it being agreed that Trustee and Lender, and each 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 sucn order and manner as they or
<br /> either o� them may in thei.r absolute discretion determine. No remedy confierred upon or reserved to Trustee or
<br /> Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by law provided ot permitted., but
<br /> each sti.all be cumulative and. shali be in addi'tion To every othe�r remedy given in this Deed ot -frust or now ot
<br /> hereafter existing at iaw or in equity or by statute. Every power or remedy given by the N�ote or any of the Related
<br /> Documents to Trustee or Lender or to wnich either of them may be otherwise entitled, may be exercised,
<br /> concurrently or independently, firom ti�me to time and as often as may 6e deemed expedient by Trustee or Lender,
<br /> and either of them may pursue inconsistent remedies. Nothing in th�s Deed of Trust shall be construed as
<br /> pronibiting Lender from seeking a deficiency judgment against the Trustor to the exten't such action is permitted by
<br /> law. Election by Lender to pursue any remedy shail not exclude pursuit of any other remedy, and an election to
<br /> make expenditures or fo talce action to perform an obligaTion of Trustor under this Deed ofi Trust, after Trustor's
<br /> failure to perform, shall not affect Lender's rignt to declare a default and exercise its remedies.
<br /> Request for Notice. Trustor, on behalf ofi Trustor and Lender, hereby requests that a copy ofi any Noiice of Defiault
<br /> and a copy ofi any Notice of Sale under this Deed of Trust be mailed to them at the addresses set forth in the fiirst
<br /> paragraph of this Deec1 of Trust.
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