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201404182
<br /> QEE� OF TRUST
<br /> Lvan Na: 1 1 1 1 292-3 (Continue[i) Page 5
<br /> Default on Other Payments. Failure of Trustor within the tirne required by this Deed af Trust to make any payment
<br /> for taxes or insurance, or any other payment necessary tv pre�ent filing of or to affect discharge af any lien.
<br /> Default in Fa�or of 7hird Parties. Should 8orrower 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 parson
<br /> that may materially affect any of Barrower's or any Grantor's property or Borrower's ahifity to repay the
<br /> Indebtedness or Borrower's or Grantar`s ability to perform their respective obligations under this Deed of Trust or
<br /> any of the Related �ocuments.
<br /> False Statements. Any warraniy, representation or statement rnade or furnished to Lender by Borrawer or Trustor
<br /> or on Borrower's or Trustor's behalf under this D�ed of Trust or the fielated Documents is false or misleading in
<br /> any material respecc, eith�r now or at the time made or furnished or becomes false or misleading at any time
<br /> thereafter.
<br /> Defective Collateralization. This Deed of Trust or any of Yhe Related Documents ceases to be in fiull force and
<br /> effect {including faiEure of any collateral document tv creafe a valid and perfected security interesY or lien) aE any
<br /> time and for any reason.
<br /> Death or Insal�ency. 7he dissolutio� of Trustor's [regardless of whe#her election ta continue is made}, any
<br /> member withdraws from the limited liability company, or a�y ather termination of Borrower's or Trustor's existence
<br /> as a goir�g I�usiness or the death of any mem6er, the insolvency of Borrower or Trustor, the appvintment af a
<br /> receiver for any part of Borrvwer's or Trustor's property, any assignment for the benefit of creditors, any type of
<br /> creditor workout, ar the comm�ncement of any proceeding under any bankruptcy or insolvency laws by or against
<br /> Borrower or Trustor.
<br /> Creditor or Forfeiture Praceedings. Commencement of fnreclosure or forfeiture proceedings, whether by judicial
<br /> proceeding, self-help, repossession or any other method, by any creditor of Sorrower or Trustor or by any
<br /> go�emmental agency against any property securing the Indebtedness. This indudes a garnishment of any of
<br /> Borrower's or Trustar's accounts, in�luding deposit accounts, with Lender. However, this Event o# De#ault shakl
<br /> not apply if ther� is a good faith dispute by Borrower or Trustor as to the �alidity or reasonableness of the claim
<br /> which is the 6asis of the creditor or forfeiture proceeding and if gorrower or Trustor gi�es Lender written notice of
<br /> the creditor or forfeiture proceeding and deposits with Lender monies or a surety band for the creditor or#orfeiture
<br /> proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the
<br /> dispute.
<br /> Sreach nf OYher Agreement. Any breach by Borrower or Trustar under the terms o# any other agreement between
<br /> Borrower or Trustor and Lender that is not r�medied within any grace period provided #herein, including without
<br /> limitation any agraement concerning any indebtedness or otE�er obligation of Borrower or Trustor #o Lender,
<br /> whether existing now or later.
<br /> �vents Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br /> or accommodation party of any of the IndebEedness ar any guarantor, endorser, surety, or accommodation party
<br /> dies or hecomes incompetent, or re�okes or disputes the validity of, or liability under, any Guaran#y of the
<br /> Indebtedness.
<br /> Adverse Change. A material adverse change accurs in Borrower's or Trustpr's financial condition, or Lender
<br /> belie�es the �rospect of payment or performance af the Irsdebtedness is impaired.
<br /> Insecurity. Lender in good faith belie�es itself insecure.
<br /> Existing lndebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is
<br /> �ot made within the time required by the promissory note evidencing such indebtedness, or a de'fault occurs under
<br /> the instrument securing such indebtednass and is not cured during any applicable grac� period in such instrurttent,
<br /> or any suit or other action is commenced to foreclose any existing lien an the Property.
<br /> RICyHTS AND REM�RIES QN �EFAULT. If an Event of Defiault occurs under#his Deed of Trust, at any time thereafter,
<br /> 7rustee or Lender may exercise any one ar more af the following rights and rernedies:
<br /> Acceleration Upon Default; Additional Ramedies. If any Event of Default occurs as per the terms of the Note
<br /> secured h�reby, Lender may declare akl Indebtedness secured by this �eed of Trust to be due and payable and
<br /> the same shall thereupon become due and payable wi#hout any presentment, demand, protest or notice of a�y
<br /> kind. Thereafter, Lender may:
<br /> la} Either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br /> appointed by a cvurt and without regard to Yhe adequacy o# its security, enter upon and take possession
<br /> of the Property, or any part thereof, in its own name or in the name of Trustea, and da any acts which ii
<br /> deems necessary or desirable to preserve the �alue, marketabifity 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 #or or atherwise collect the
<br /> rents, issues and protits of the Property, including thase past due and unpaid, and apply the same, less
<br /> costs and expenses of operation and collection attorneys' fees, to any ir�de�tedness secured �y this �eed
<br /> of Trust, aq in such order as Lender may determine. The entering upon and taking possessian of the
<br /> Property, the callection of such rents, issues and profits, and the a�plication thereof shall not cure or
<br /> waive any default or notice of default under this deed of"f"rust or invalidste any act done in response #o
<br /> such default or pursuant ta such notice of default; and, notwithstanding the continuance in possessian of
<br /> the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall
<br /> be entitled ta exercise every right provided for in the Note or the RelaYed Documents or by 1aw upon the
<br /> occurrence of any event of default, including the r9ght to exercise the power of sale;
<br /> Ih) Cpmmence an action to foreclose this Deed of Trust as a mortgage, appoint a recei�er or specifiically
<br /> enfarce any of the ca�enan#s hereaf; and
<br /> [c} Deliver to Trustee a written declaration af default and demand for sale and a written noYice of defaukt
<br /> and election to cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to be
<br /> duly FiEed for record in the appropriate offices of the County in which the Property is lacated; and
<br /> {dl With respect to al! or any part of the Personal Property, Lender shall have all the rights and remedies
<br /> of a secured parYy undar the Nebraska klniform Commercial Code.
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power af Sale herein contained,
<br /> Lender shall notify 7rustee and shall deposit with Trustee this Dead of Trust and Ehe Note and such receipts
<br /> and evidence of expenditures made and secured by this Deed of Trust as Trus#ae may require.
<br /> {a) Upon receipt of such notice from Lender, Trustee shall cause to be recorded, published and delivered
<br /> #o Trustor such Notice of Default and Notice af Sale as then required by law and by this Deed of Trust.
<br /> Trustee shaU, without demand on Trustor, after such time as mey then be required by law and after
<br /> recordation of such Notice of Default and after Notice of Sale ha�ing been given as required by law, sell
<br /> the Property at the time and place of sale fixed by iC in such Notice of Sale, either as a whole, or in
<br /> separate lats vr parcels or items as Trustee shall deem expedient, and in such order as it may determine,
<br /> at public auctfon to tha highest bidder for cash in lawful money of the United States payable at the time
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