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201401177
<br /> DEED OF TRUST
<br /> Loan No: 81 Q04951 (COI1titlU�d} Page 5
<br /> False Statements. Any warranty, representation os statement made or furnished to Lender by Barrower or Trustor
<br /> or an 6orrower's or Trustor's behalf e�nder this Qeed of Trust or the Related Documents is false or misleading in
<br /> any material respect, either naw or at the time made or fumished or becomes false or misleadir�g at any time
<br /> thereafter.
<br /> Defective Col[atera[ization. This Deed o�r Trust or any of the Related Documents ceases to be in full force and
<br /> eifect (including failure of any collateral document to create a valid and perfected security interest ar lien} at any
<br /> time and for any reason.
<br /> Qeath ar [nsolvency. The death of Borrower or Trustor, the insolvency of Borrower or Tr�stor,The appofntment of
<br /> a recei�er€or any part of Borrower's or Trustor's property, any assignment for the benefit of creditors, any type of
<br /> creditor workout, ar the commencement of any proceeding under any bankre�pYcy or insolvency laws by or against
<br /> Borrower pr Tre�stor.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure or forFeiture proceedings, whether by judicia[
<br /> proceeding, self-help, repossession or any ather method, by any ereditor of Borrower or Trustor or by any
<br /> governmental agency against any property securing the lndebtedness. This includes a garnishrreent of any of
<br /> Borrower's or Trustor's accounts, including deposit accouRts, with Lender. However, this Event of Default shalf
<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 ihe creditor or forfeiture proceeding and if Borrower or Trustor gives Lender writ[en notice of
<br /> the creditor or forfeiture proceeding and deposits w9th Lender monies or a surety bond for the creditor or forfeiture
<br /> proceeding, in an amount deterrr�ined by Lender, in its sole discretion, as being an adequaYe reserve or bond for the
<br /> dispute.
<br /> Breach of Other Agreement. Any breach by Borrower or 7rustor under the terms of eny other agreement between
<br /> Borrower or Trustor and Lender that is not remedied within any grace period provided iherein, inc[uding without
<br /> Iimitation any agreement concerning any indebtedness or other ob[igaYion of Borrower or Trustor to Lender,
<br /> whether sxisting npw or later. .
<br /> Events Affecting GuaranYor. Any of the preceding events occurs wi#h respect to any guarantor, endorser, surety,
<br /> or accommodation party of any of the lndebtedness or any guarantor, endorser, surety, or accommodation party
<br /> dies or becomes incompetent, ar revofces or disputes the validity of, or liability under, any Guaranty of the
<br /> ' [ndebtedness.
<br /> Adversa Ehange. A material adverse change occurs in Borrower's or Trustor's financial condition, or Lender
<br /> believes the prospect of payment or performance of the [ndebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself"snsecure.
<br /> RIGHTS AHD REMEDIES ON D�FAULT. If an Event of Default occurs under#his �sed of Trust, at any time thereafter,
<br /> TrusFee ar Lender may exercise any ane or more of the following rights and remedies:
<br /> Acceleration Upon �efault;Additional Remedies. If any Event of Default occurs as per the terms of the Note
<br /> secured hereby, Lender may declare al] lndebtedness secured by this Deed of Trust to 6e due and payable and
<br /> the same shall thereupon become due and payable without any presentment, demand, protest or no#ice 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 adequecy 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 necassary or desirable to preserve the value, marketability or reniability of the Properry, or part o�F
<br /> the Property or interest in the Property; increase The income from the Property ar protect the security af
<br /> the Property; and, with or without taking possession of the Property, sue for or atherwise col[ect the
<br /> rents, issues and profits af the Property, including those past due and unpaid, and apply the same, less
<br /> costs and expenses of operation and collection attarneys' fees,to any indebtedness secured by this Deed
<br /> of Trust, aq in such order as Lender may determine. The entering upon and taking ppssession of the
<br /> Property, the eollection of such rents, issues and profits, and the app[ication thereof shaA not cure or
<br /> waive any default or notice of default under this Deed of Trust or inva[idate any act c{one in response to
<br /> such defau[t or pursuant to such notice of default; and, no#withstanding the continuance in possession of
<br /> Ehe Property or the collection, receipt and app[ication of rents, issues or profits, Trustee or Lender shall
<br /> be entitled to exercise avery rig[�t provided for in the �[ote or the Refated 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"�rvsY as a mortgage, appaint a receiver or specifically
<br /> enforce any of ihe covenants hereof; and
<br /> (c) Deliver to Trustee a written declaration of default end demand for saEe and a wri#ten natice of default
<br /> and election to cause Trustor's interest in ths Property to be sald, which notice Trustee shaEl 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 al] or any part of the Personal Property, Lender shall ha�e all the rights and remedies
<br /> of a secured party under the Nebraska Unifarm Commercial Code.
<br /> Foreclosare 6y Power of SaEe. If Lender elects to foreclose by exercise of the Power of 5ale herein containec[,
<br /> Lender sha[I noti€y Trustee and shall deposit with Trustee this Deed of 7rvst anc[ the Note and such receipts
<br /> and evidence of expenditures made and secured by this Deed of Trust as Trustee may req�ire.
<br /> {a) Upon receipt of such notice from Lender, Trustee shafl causa to be recarded, published and deGvered
<br /> to Trustor such Notice of Default and �lotice of Sale as then required by law and by this Deed of Trust.
<br /> Trustee shall, w9thaut derrtand on TrusYor, after such time as may then be required by law and after
<br /> recordation of sucft Notice of Default and after Notice of Sale having 6een given as required by law, sell
<br /> the Prvperty at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in
<br /> separate [ots or parcels or items as Trustee shall deem expedient, and in such order as it may determine,
<br /> at public auction to the highest hidder for cash in lawful maney of the United 5tates payable at the time
<br /> af sale. Trustee sha[I deliver to such purchaser or purchasers thereof its good and se�ffieient deed or
<br /> deeds conveying the property so sold, bu# without any covenant or warranYy, express or implied. The
<br /> recitals in such deed of any matters or facts shafl be canc[usive proof of the tr�thfulness thereof. Any
<br /> person, inc[uding wit�out[imitation Tr�stor, Tr�stee, or Lender, may purchass at such sale.
<br /> (b} As may be permitted by law, a€ter deducting all costs, fees and expenses o# -irustee and of this
<br /> 7rust, including costs of evidence of title in connection with saie,Trustee shal[ apply the proceeds of sale
<br /> to payment of (i} all sums expended under ihe terms of this Deed of Tr�st or under the terms of the f�ote
<br /> not then repaid, including bux not [imited to accrued interest and late charges, (ii) all other sums then
<br /> secured hereby, and iiii) ihe remainder, if any,to the person or persons [egally eniitled thereto.
<br /> {c] Trustee may in the manner prqvided by law postpone sale of aEl or any portion of the Propert}r.
<br /> Remedies Not Exc[usi�e. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> performance of any indebtedness or obligations secured by this �eed 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 vnder any other agreement or
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