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201404183
<br /> DEED OF TRUST
<br /> Loan No: 1 1 1 1 292-3 (COntlllued) Page 5
<br /> Borrawer or Trustor.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture procsedings, wheYher by judicial
<br /> proceeding, self-help, repossession or any other meihod, by any credi#vr of Borrower or Trustor or by any
<br /> gavernmental agency against any property securing the Indebtedness. This ir�cludas a garnishment of any of
<br /> Borrower's or Trustor's accounts, ir�duding deposi# accounts, with Lender. However, this Event af Default shall
<br /> not apply if there is a govd faith dispute hy Bprrower or Trustor as to the validity pr reasonableness of the claim
<br /> which is the basis o#the crediYor or forfeiture proceeding and if Borrawer or Trustor gives Lender written notice vf
<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 reser�e ar bond far the
<br /> dispute.
<br /> Breach af Dtf�er Agreement. Any breach by Borrower or 7rustor under the terms of any other agreement between
<br /> Borrower or TrusCor and Lender that is not remedied within any grace period provided therein, inciuding without
<br /> limitation any agreement concerning any indebtedness or ot�er obligation vf Borrower or Trustor to Lender,
<br /> whether existing now or later.
<br /> Events Affecting Guarantor. Any ofi Yhe preceding events occurs with respect to any guarantor, endorser, surety,
<br /> ar 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 under, ar�y Guaranty of the
<br /> IndebYedness.
<br /> Ad�erse Change. A maYerial adverse change occurs in Borrower's or Trustor's financia! condition, or Lender
<br /> believes the prospect of payment or psrformance of the lndebtedness is impaired.
<br /> fnsecurity. Lender in good faiih 6elie�es itself insecure.
<br /> ExisYing IndebYedness. The payment of any installment of principal or any interest on the Existing lndebtedness is
<br /> not made within tfie time required by the promissvey note e�idencing such indebtedness, or a default occurs under
<br /> the instrument securing such indebtedness and is not cured during any applicable grace period in such instrument,
<br /> or any suit ar ather action is commenced to foreclose any existing lien on the F'roperty.
<br /> RIGHTS AND REMEDiES ON DEFAULT. If an E�ent of Default occurs under this Deed of Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the fpllowing rights and remedies:
<br /> Acceleration llpon Default; AddiYional Remedies. !f any E�ent of Default occurs as per the terms of the Note
<br /> secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and
<br /> the sarrse shalf thereupon become due and payable without any presentment, demand, protest or notice of any
<br /> kind. Thereafter, Lender may:
<br /> Iaj Either in person or by agent, witF� 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 Yhe Property, or any part thereof, in its own name or in the name o#Trustee, and do any acts which it
<br /> deems necessary or desirable to preserve the value, marketability ar renta6ility of the Property, or part of
<br /> the Property or interest in the Property, increase the income from the Property or pratect the security of
<br /> the Property; and, with or without taking possession of the Property, sue for or otherwise collect the
<br /> , rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less
<br /> costs and expenses of operation and collection attameys' fees, to any indebtedness secured by this Deed
<br /> of Trust, all in such order as Lender may determine. The entering upon and taking passession of the
<br /> Property, the collection of such rents, issues and profits, and the application thereof shaH noi cure or
<br /> waive any default or natice of default under �his deed of Trust or ir��alidate any act done in respor�se ta
<br /> such defau]t or pursuant to such notice of default; and, notwithstanding the continuance in possession of
<br /> the Praperty or the collectiorr, receipt and application nf rents, issues or profits, Trustee or Lender shall
<br /> be entitled ta exercisa every right provided for in the Note or the Relaied Documents or by law upon the
<br /> occurrence of any event of default, including the right ta exercise the power of sale;
<br /> {b} Commence an action to foreelose this Deed o#Trust as a mortgage, appoint a receiver or specifically
<br /> enforce any of the covenants hereof; and
<br /> {c) �eli�er Yo Trustee a written declaratian of default and demand for sale and a written notice of default
<br /> and electipn to cause Trustor's interest in the Property 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 /> {d} With respect to all or any part of the Personal Property, Lender shall have aEl the rights and remedies
<br /> of a secured party under the Nebraska Uniform Commercial Code.
<br /> Foreclosure by Power of 5ale. If Lender elects to foreclose 6y exercise of the Power of SaEe herein contained,
<br /> Lender sha11 notify 7rustee and shal] depos't# with Trustee this deed of Trust and Yhe Note and such receipts
<br /> and evidence of expenditures made and secured by this Deed of Trust as Trustee may require.
<br /> la} Upon receipt of such notice from Lender, Trustee shal! cause to be recorded, pub[ished and delivered
<br /> to Trustor such Notice of Defaul# and Notioe of 5ale as then required by iaw and by this Deed of Trust.
<br /> Trustee shall, withou# demand on Trustor, after such time as may then be required by law and after
<br /> recordation af such Notice of Default and after Nofiice of Sale having been given as required by law, sell
<br /> the Property at the time and place of sale fixed by it in such f�otice of Sale, either as a whole, ar in
<br /> separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may determine,
<br /> at public auctian to the highest bidder for cash in lawful rrsoney of the United States payable at the time
<br /> af sale. Trustea shall deliver to such purchaser or purchasers thereof its good and suf#icient deed or
<br /> deeds conveying the property so sold, but without any covenant or warranty, express or implied. The
<br /> recitals in such deed of any matters or facts shal[ be conclusive proof of the truthfulness thereof. Any
<br /> persan, inckuding without limitation Trustor, Trustee,or Lender, may purchase at such sale.
<br /> fb) As may be permitYed by law, aiter deduoting all costs, fees and expenses af Trustee and af this
<br /> Trust, including costs of evidence of title in connection with sale, Trustee shall apply the proceeds af sale
<br /> to payment of [i} all sums expended under the terms of this C}eed of Trust or under the terms of the Note
<br /> not then repaid, including but nat limited to accrued interest and Iste charges, {ii} akl oiher sums then
<br /> secured hereby, and {iii) #he remainder, if any, to the person or persons iegally entitled thereto.
<br /> (c7 Trustee may in the manner provided by law pastpone sale of a�l ar any portion of the Property.
<br /> Remedias NaF Exclusive. Trustee and Lender, and each af them, shakl be entitled to enfarce payment and
<br /> performance of any indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powers
<br /> under this Deed of Trust, under the Nota, under any of tF�e Related �ocuments, or under any other agreement or
<br /> any laws now or hereafter in force; notwithstanding, some ar al! of such indebtedness and obligations secured by
<br /> this Qeed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br /> assignment oe ptherwise. Neither the acceptance of this Deed of �'rust nor its enfarcement, whether by court
<br /> action or pursuant to the power of sale or other powers contained in th9s beed of Trust, shall prejudice or in any
<br /> manner affect Tre�stee's or Ler�der's right to realize upon or enforce any other security naw ar hereafter held by
<br /> Trustee ar Lender, it being agreed that Trustee and Lender, and each of them, shall be entitled to enforce this Deed
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