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201209604
<br /> DEED OF TRUST
<br /> Loan No:81007627 (COtltltlUed} Page 5
<br /> effect(inciuding failure of any collateral document to create a valid and perfected security interest or lien) at any
<br /> time and for any reason.
<br /> Insolvency. The dissolution ortermination of Borrower's or Trustor's existence as a going business,the insolvency
<br /> of Borrower or Trustor, the appointment of a receiver for any part of BorrowePs or Trustor's property, any
<br /> assignment for fhe benefit of creditors, any type of creditor workout, or the commencemenY of any proceeding
<br /> under any bankruptcy or insolvency laws by or against Borrower or Trustor.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings,whether by judicial
<br /> proceeding, self-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 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 of the creditor or forfeiture oroceeding 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 tiy 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 /> Borrowet or Trustor and Lender that is not remedied within any grace period provided therein, induding without
<br /> limitation any agreemeni concerning any inde6tedness or ottier obligation of Borrower or Trustor to Lender,
<br /> whether existing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any guaranmr,endorser,surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor, endorser,surety,or accommodation pariy
<br /> dies or becomes incompetent, or revokes or disputes the�validitV of, or lia6ility under, any GuaraMy of the
<br /> Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Borrower's or Trusmr's financial condition, or Lender
<br /> 6elieves the prospect of payment or perfarmarlce of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> RIGHTS AND REMEDIES ON DEFAULL. If an Event of Default occurs under this Deed of Trust,at any time thereafter,
<br /> T�ustee 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 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 ac'tion 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 acts 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 without taking possession of the Property,sue for or otherwise collect the
<br /> rents,issues and profits of the Propetty,including those pasi due and unpaid,and apply the same, less
<br /> costs and expenses of operation and collection attomeys'fees,to any indebtedness 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, the collection of such rents, issues and profiTs, and ihe 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 /> such default or pursuant to such notice of default;and,notwithstanding the continuance in possession of
<br /> the Property or the collection, receipt and application of re�ts, issues or profits,Trustee or Lender shall
<br /> be entitled Yo exercise every right provided for in the Note or the Related Documents or by Iaw upon the
<br /> occurrence of any event of default,including the right to exercise the power of sale;
<br /> (b) Commence an action m foreclose this Deed of Trust as a mortgage,appoint a receiver or specifically
<br /> enforce any of the covenants hereof;and
<br /> (c) Deliver io Trustee a written declaretion of default and demand for sale and 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 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 Personal Property,Lender shall have all the rights and remedies
<br /> of a secured party under the Nebraska Uniform Gommercial Code.
<br /> Foredosure 6y Power af 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 of Sale as then required by law and by this Deed of Trust.
<br /> Trustee shall, without demand on Trustor, after such tirne 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 of sale fixed by it in such Notice of Sale, either as a whole, ¢r 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 IawPul money of the United States payable at the time
<br /> of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient 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 of the truthfulness the�eof. Any
<br /> person,including without limitation Trustor,Trustee,or 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 of title in connection with sale.Trustee shall apply the proceeds of sale
<br /> to payment of (i)all sums expended u�der the terms of this Deed of Trust or under the terms of the Note
<br /> not then repaid, including but not limited to accrued interest and late charges,. (ii)all other sums then
<br /> secured hereby,and (iii)the remainde�,if any,to the person or persons legally entitled thereto.
<br /> (c) Trustee may in the manner provided hy law postpone sale of aII or any portion of the Properry.
<br /> Remedies Not Exclusive. Trustee 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 all 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 /> arry laws now or hereafter in force;notwithstanding,some or all of such indebtedness and obligations secured by
<br /> this Deed of 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 of sale or other powers contained in this Deed of Trust,shall prejudice or in any
<br /> manner affect Trvstee's or Lender's right to realize upon or enforce any other security now or hereafter held by
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