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201401415
<br /> DEED OF TRUST
<br /> Loan No: 123 [Continued] Page 5
<br /> Payment Default. Borrower fails to make any payment when due under the [ndebtedness.
<br /> Other Defaults. Borrower ar Trustor fails to comply with or to perform any other term, obligation, covenen# or
<br /> condition contained in this Deed of Trust or in any of the Related Documents or to compEy with or to perform any
<br /> term, obligation, covenant or condition contained in any other agreemer�t between Lender and Borrower ar Trustor.
<br /> Campliance Default. Failure ta comply with any other term, obligation, covenant or condition eorttained in this
<br /> Deed af Trust,the Note or in any of tf�e Relatec[ �ocuments.
<br /> Defau[t on Other Payments. Failure of Trustor within the time required 6y this Deed of Trust#o ma[ce any paymen#
<br /> for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Defau[t in Favar of Third Parties. SF�ould Borrower or any Grantor default under any 1oan, extension of credit,
<br /> seCurity agreement, purchase ar sales agreement, or any other agreement, in f0vor of any other creditor or person
<br /> that may materia][y affect any of Borrowar's or any Grantor's properry or Borrower's a6ility to repay �he
<br /> ]nde6tedness or Borrower's or Grantor's abifity to perfarm their respec#ive obligations under th9s Deed of Trust or
<br /> any of the Related Documents.
<br /> False Statements. Any warranty, representation or staterr:ent made or furnished to Lander by Borrower or Trustor
<br /> or on Borrower's or Trustor's behalf under this Dead of Trust or the Related Documents is false or misleading in
<br /> any material respect, either now or a€ the time made or furnished or becomes false or misleading at any time
<br /> thereafter.
<br /> Defecti�e Co[lateralization. 7his Deed of Trust or any of the Re[a#ed Dacuments ceases to be in fuli force and
<br /> effect (including fai]ure of any collateraE document to create a va[id and perfected sec�rity interest or lien) at any
<br /> tima and for any reason.
<br /> Death or Insoivency. The dissolution or termination of Barrower's or Trustor's existence as a going busiroess, the
<br /> insolvency of Borrawer or Trustor, the appointment of a receiver for any part of Borrower's ar Trustar's property,
<br /> any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding
<br /> under any bankre�ptcy or inso[vency[aws by or against Barrower or Trustor.
<br /> Cred'Ror or ForFeiture Proceedings. Cammencement of foreclosure or forfeiture proceedings, whether by judicial
<br /> praceeding, self-help, repossession or any other method, by any creditor of Borrower or Trustor or by any
<br /> governmeRtal agency agains# any property securing the Indebtedness. `ff�is inc[udes a garnishment of any of
<br /> Borrower's or Trustor's aacaunts, including deposit accounts, with Lender. Hawever, this Event of Defavlt sha[I
<br /> nat apply if there is a good faith dispute by Sorrower or Trustor as #o the validity or reasonableness af the daim
<br /> which is�he basis of the creditor or forfeiture proceading and if Borrower or Trustar gi�es Lender written notice of
<br /> the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the cred9tor or forfeiture
<br /> proceeding, in an amount determined by Lender, in its sole discretian, as being an adequate reserve or bond for the
<br /> dispute.
<br /> Breach of pther Agreement. Any bseach by Borrower or Trustor under the terms of any other agreement between
<br /> Borrower or Tr�stor and Lender that is not remedied within any grace period provided therein, including without
<br /> limita'Eion any agreement concerning any indebtedness ar other obligation of Borrower or Trustor to Lender,
<br /> whether existing now or]ater.
<br /> Evrerrts AffectiRg Gaarantor. Any af the preceding events vccurs with respect to any guarantor, endorser, surety,
<br /> or accommodation party of any of the Endebtedness or any guarantor, endorser, surety, or accommodation party
<br /> dies or becomes incompetent, or revokes or disputes the validity of, ar liab9lity under, any Guaranty of the
<br /> Indebtedness.
<br /> Adverse Change_ A material adverse change occurs in Borrower's or Trustor's financial condition, or Lender
<br /> be[ieves the prospect of payment or performance af ihe [ndebtedness is impaired.
<br /> [nsecurity. Lender in good faith believes itself insecure.
<br /> Existing lndebtedness. The payment of any installment of principa] or any interest on the Existing ]ndebtedness is
<br /> not made within the time required by the promissory note evidencing such inCEebtec{ness, or a defavlt occurs under
<br /> the instrument securing such inde6tedness and is not c�red during any applicable grace period in s�ch instrurr�ent,
<br /> or any sui#or other action is commenced to foreclose any existing lien on the Property.
<br /> RIG�ITS AND REfUlED1ES ON DEFAULT. lf an Event of Qefault occurs under this aeed of Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of ths following rights and remedies:
<br /> Acceleration Upon default;Additional Remedies. If any E�enT af Default occurs as per the terms of the Note
<br /> secured hereby, Lender may declare all [ndebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shall t[�ereupon 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 E�y a court and without regard to the adequacy of its secvrity, enter upon and take possession
<br /> o#the Property, or any part thereof, in its own narne or in the name of Trustee, and do any acts which it
<br /> deems necessary or desirabEe to preser�e the va[ue, marketability or rentabi]iYy 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 ihe
<br /> rents, issues and profits of the Property, induding those past due and unpaid, and app[y the same, [ess
<br /> costs and expenses of operation and collection attorneys' fees,to any indebtedness secured by this Deed
<br /> of Trust, a�l in such order as Lender may determine. The entering upon and taking possession o�F the
<br /> Property, ths coilec#ion af such rents, issues and profiits, and the application thereaf shal[ not cure or
<br /> waive any defau[t or notice of defau]t under this Deed of Trust or in�alidate any ac# done in response to
<br /> such default or pursuant to such notice af dafau[i; and, notwithstanding the cantine�ance in possession of
<br /> the Property or the col[ectian, receipt and application of rents, issues or pro€its, Trustee or Lender shall
<br /> be entitled Fo exercise every right providec[for in the Note or the Related Documents or by law upon the
<br /> occurrersce of any event of defautt,including the right to exarcise the power o'f sa[e;
<br /> [6] Comrnence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically
<br /> enforce any af#he covenants hereof; and
<br /> [c1 Deliver to Trustee a written declaration of defau[t and demand for sa[e and a writCen no#ice of default
<br /> and election to cause Tre�stor'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 wE,ich the Property is located; and
<br /> {d} With respect to al[ or any part of ihe Personal Property, Lender shal] have al] the rights and remediss
<br /> of a secured party under the Nebraska Uniform Cornmercial Code.
<br /> Forec[osure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained,
<br /> Lender shall notify Trustee and sha�l deposit with Trustee this Deed of Trust and the �lote and s+�ch receipts
<br /> and evidence ot expenditvres 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
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