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201211012
<br /> DEED OF TRIDST
<br /> Loan No: 8i002047 (COnttnued) Page 5
<br /> Payment Default. Borrower fails to make any payment wnen due under the Indebtedness.
<br /> Other Defaults. Borrower or Trustor fails to comply with. or to perfiorm any other term, obligation, covenant or
<br /> condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any
<br /> term, obligatio�n, covenant or condition contained in any other agreement between Lender and Borrower or Trustor..
<br /> Compliance Default. Failure to comply with any other term; obligation, covenant or condition contained in this
<br /> Deed of TrusT,the Note or in any of the Related Documents.
<br /> Default on Other Payments. Failure of Trustor within the time�required by this Deed of Trust to make any payment
<br /> for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Default in Favor of Third Parties. Should Borrower or any Grantor defiault under any loan, extension of credit,
<br /> security agreement, pu:rchase or sales agreement, or any other agreement, in fiavot af any oiher creditor or person
<br /> that may materially affect any of Borrower's or any Grantor's property or Borrower's ability to repay the
<br /> Indebtedness or Borrowe�r's or Grantor's ability to perform their respective obligations under this Deed of Trust or
<br /> any of the Related Documents.
<br /> Faise Sfatements. Any warranty, representation or statement made or furnished to Lender by Borrower or Trustor
<br /> or on Borrower's ot Trustor's behaff 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 fumisned 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 fuil force and
<br /> effect (including fiailure 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 of Borrower or Trustor, ihe insolvency of Borrower or Trustor, the appointment of
<br /> � a receiver for any part of Borrower's or Trustor's property, any assignment for the benefit of crediYors, any type of
<br /> creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency faws by or against
<br /> Borrower or Trustor.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whe2her by judicial
<br /> proceeding, self-help, repossession or any other method, by any creditor of Borrower or Trustor or by any
<br /> � govemmental agency againsY any property securing the Indebtedness. This includes a garnishment of any of
<br /> Borrower's or Trustor's accounts, induding deposit accounts, with Lender. However, this Event of Default shail
<br /> not apply if there is a good faith dispute by Borcower or Trustor as to tne validity or reasonableness of tne cfaim
<br /> which is the basis ofi tne creditor or fiorfeiture proceeding 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 6ond for fhe
<br /> dispute.
<br /> Breach of Other Agreement. Any breach by Borrower or Trustor under tfie terms of any other agreement between
<br /> Borrower or Trustor and Lender that is not remedied within any grace period provided therein, dnduding without
<br /> limitation any agreement concerning any inde6tedness or other obfigation af Borrower or Trustor to Lender,
<br /> whether existing now or later.
<br /> Events Aifecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<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 u�nder, any Guaranty of the
<br /> Indebtedness_
<br /> Adverse Chanye. A material adverse change occurs in Borrower's or Ttustor's financial condition, or Lender
<br /> believes the pros.pect of payment or performance of the Indebeedness is impaired.
<br /> Insecurity. Lender in good faitn believes itself insecure.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed ofi Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more ofi the following ri�ghts and remedies:
<br /> Acceleration Upon Default;Additional Remedies. If any EveM of Default occurs as per the terms ofi the Note
<br /> secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and paya6le and
<br /> the same shall ihereupon become due and payable without any presentment, demand, protest or notice of any
<br /> kind. Thereafter, Lender may:
<br /> (a) Eitner in person or by agenY, 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 Pro�perty, 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; incraase the income from the Property or proiect the security of
<br /> the Property; and, with or without taking possession of tne Property, sue for or otherwise collect tne
<br /> rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less
<br /> � costs anci expenses of operation and coilection attorneys' fees,to any indebtedness secured by this Deed
<br /> ofi Trust, alf in sucn order as Lender may determine_ The enterSng upon and taking possessEon of the
<br /> Property, the collection of such renTs, issues and p:ofits, �nd tne application thereof shall noi cure or
<br /> waive any default or notice of defauli 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 rents, issues or profits, Trustee or Lende:r shall
<br /> be entitfed 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 Trust as a mortgage, appoint a receiver or specifically
<br /> enfiorce any of the covenants hereof; and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a weitten notice of defiault
<br /> and election to cause Trustor's interest in the Properry to be sold, whi.ch notice Trustee shall cause to be
<br /> , duly filed for record in the appropriate offi�ces o��the County in whicn the Property is Iocated; and
<br /> (d) With respect to all or any part of the Personal ProperCy, Lender shall have all the rights and remedies
<br /> ofi a secured party under the Nebraska Uniform Commerciai Cod:e.
<br /> Foreclosure 6y Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained,
<br /> Lender shall notifiy Trustee and shall deposit with Trustee this Deed of Trust and tne 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 ca�use to be recorded, published and delivered
<br /> to Trustor such Notice of Default and Natice of Sale as then.required by law and by tnis Deed of Trust.
<br /> Trustee shall, witnout deenand on Trustor, after such time �s 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 wnole, or in
<br /> separate lots or parcels or items as Trustee�shall deem expedient, and in such order as it may determine,
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