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201400196
<br /> DEED OF TRUST
<br /> Loan No: 8100448U (COntinued) Page 5
<br /> Payrnent�efault. Borrower fai[s to make any paymenY whan due�nder tha Indebtadness.
<br /> Other �efaults. Borrower or Trustor fails to compfy with or to perform any other term, obligation, covenant or
<br /> condition contained in this Deed of Trust or in any of the Re[ated Documents or ta comply with or to perform any
<br /> Term, obligatian, covenant or condition contained in any other agreement between Lender and Borrower or Trustor.
<br /> Comp[iance Default. Failure to comp[y with any other term, obligation, covenant or condition cantained in this
<br /> Deed of Trust,the f�ote or in any of the Related Documents.
<br /> Default on Other?ayments. Failure of Trustor within the time required by this Deed of Trust to make any payment
<br /> for taxes or insurance,ar any other payment necessery to prevenE fifing of or to effect discE�arge of any[ien.
<br /> Default in Favor af Third Parties. Should Borrower or any Grantor default under any loan, extension of credit,
<br /> security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person
<br /> that may material[y affiect any of Sorrower's or any Grantor's property or Borrower's ability to repay the
<br /> Indebtedness or gorrower's or Grantor's abi[ity to perform their respecti�a obligations under this �eed af Trust or
<br /> any of ihe Related Documents.
<br /> False S#atemen#s. Any warranty, representaYioro or statement made or furnished to l.ender by Borrower or Trus€or
<br /> or on Borrower's or Trustor's behalf under this Deed of Trust or the Related Documents is fafse ar misleading in
<br /> any material respect, either now or at the time made or furnished or becomes false or misleading at any time
<br /> ti�ereafter.
<br /> Defec#i�e Cvpateraliza#ion. This Deed of Trust or any of t[�e Re[eted Documents ceases to be in ful] farce and
<br /> effect (including failure of any col]ateraE document to create a vafid ar�d perfected security interest or lien} at any
<br /> t�me 8nd fpr�ny re85on.
<br /> Insolvency. The dissolutian or termination of the Trust, the insolvency af 8orrower or Trustor,the appointment of
<br /> a receiver for any part of Borrawer's or Trustor's property, any assignment for the benefit 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 /> Creditnr or Forfeiture Proceedings. Commencement af foreciosure or forfeiture proceedings, whether by judicial
<br /> proceeding, se[f-hefp, repossessian or any otE�er method, by any creditor af Borrower or Trustor or by any
<br /> govsrnmenta] agency against any properiy securing the Indebtedness. This includes a garnishment of any of
<br /> Borrower`s or 3rustor's accounts, including deposit accounts, wi#h Lender. However, this Event of Default shall
<br /> not apply if there is e 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 wri#ten natiee of
<br /> the creditar or for�Feiture proceeding and deposits with Lender monies or a surety bond for the crediEor or forfeiture
<br /> proceeding, 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 terms of any other agreement between
<br /> Borrower or Trustor and Lender that is nat remedied within any grace period provided therein, inclvding withaut
<br /> limitation any agreement concerning arsy indebtadness or other obJigation 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 guarantor, endorser, surety,
<br /> or accommodation party of any of the Indebtedness or any guaranEor, endorser, surety, or accommodat�on parry
<br /> dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br /> €ndebtedness.
<br /> Adverse Change. A materia! adverse change occurs in Borrower's or Trustor's financial co�dition, or Lender
<br /> believes the prospect of payment or perFormance of t[�e Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itse[f insecure.
<br /> Existing [ndebtedness. The payment of any instal]ment of principal or arty interest on the Existing Indeb#edness is
<br /> not made within the Yime required by the promissory note evidencing such indebtedness, or a default occurs under
<br /> the instrument securing sucf� indebtedness and is not cured during any app[icable grace period in such instrument,
<br /> or any suit or other action is commenced to forecEose any existing lien on the Property.
<br /> RIGHTS AHD REMEDIES ON aEFAULT. If an Event of �efae�lt occurs under this Deed of Trust, at any time thereafter,
<br /> Trustee ar Lender may exercise any one or more of the follawing rights and remedies:
<br /> Acceleration Upan Default;Additional Remedies. If any E�ent of Defa�lt occurs as per the#erms of the Note
<br /> secured hereby, Lertder may declare all lndebtedness sec�red by this Deed of Trust to be due and payabls and
<br /> the sarree shall thereupon become due and payable without any presentment, demand, protest or notice of any
<br /> [cind. Thereafter, Lender may:
<br /> fa} Either in persan 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 �pon and ta[ce possession
<br /> of the Property, or any part thereaf, in its own nasne or in the name of Trustee, and do any acEs which it
<br /> desms necessary or desirab[e to preserve the va[ue, markatability or rentability of the Properry, or part of
<br /> the Property or interesE in the Property; increase the income from the Property or protect the security of
<br /> the Property; and, with or withaut taking possession of the Property, sue for or otherwise coflect the
<br /> rents, issues and profits of the Property, induding thase past due and unpaid, and apply the same, [ess
<br /> costs anc{expenses of oparation and co[lection attorneys' fees,Yo any indebtedness secured by this Deed
<br /> of Trust, all in such order as Lender may determine. The en#erirtg �pon and taking possession o€ the
<br /> Property, the co[lection of such rents, issuss and profits, and the application thereof shall nat cure or
<br /> waive any default or notice of defauft undee this Deed of Trust ar invalidate any act done in response ta
<br /> such default or pursuan't to such notice of default; and, notwithstanding the continuance in possession of
<br /> the Property or the coElection, 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 Relatecf Documents or 6y law upon the
<br /> occurrence of any event of default, incEuding the right to exercise the power of sale;
<br /> (b7 CorrEmence an action to forec[ose this Deed of TrusY as a mortgage, appoint a recei�er or specifically
<br /> enforce any of the co�enants hereof; and
<br /> [c) Deli�er to Trustee a written declaration of default and demand for sale ar�d a written notice of defiault
<br /> and election to cause 7rustor's in#erest in the Praperty 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 /> fd) With respect to a[I or any part of the Personal Property, Lender shal[ have al[the rights and remedies
<br /> of a secured parCy under the f�ebraska Un9form Commercial Code.
<br /> Foreclosure by Power of Sale. If Lender efects to forec[ose by exercise of Fhe Power of Sa1e herein cantained,
<br /> Lender sf�al[ notifiy Trustee and shall deposit with �rustee this �eed of Trust and the f�ote and such receipts
<br /> and evidenCe of expenditures made and securect by this Deed of Trust as Trustee may require.
<br /> {a} Upon receipt of such notice from Lender, Trustee shal! cause to be recorded, p�bfished and deli�ered
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