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201404751
<br /> DEED OF TRUST
<br /> Loan No: 81005941 (ContinueC!} Page �
<br /> Defective Collateralization. This Deed of Trus# or any of the Related Documents ceases to be in fuil force and
<br /> effect ;including failure of any collateral cEocument to create a valid and perfected security interest or lien) at any
<br /> time and for any reason.
<br /> [nsolvency. The dissolution or termination of Borrower's or Trustor`s existence as a going business, the insolvency
<br /> of Borrower or Trustor, the appointment af a receiver for any parc of Borrower's or Trustor`s pro�erty, any
<br /> assignment for the banefit of creditors, any type of creditor worko�t, or the commencement af any proceeding
<br /> under any bankruptcy or inso[vency Eaws by or against 8orrower or Trustor.
<br /> Creditor or Forfeiture Proceedings. Cammencement of foreclosure or forfeit�tre proceedings, whether by judicial
<br /> proceeding, self-he[p, repossession or any other method, by any creditor of Borrower or 7rustor or by any
<br /> governmental agency agains# any property securing the lndebtedness. This includes a garnishment of any of
<br /> Borrower`s or Trustor's accounts, inc[uding deposit accounEs, with Lender. Howe�er, this Event of Default shaA
<br /> not app[y if there is a good faith dispute by Borrower or Trustor as to the val9dity or reasanableness af the claim
<br /> which is the basis of the creditor or forfeiture proceeding and if Borrower or Trustor gives Lender written notice of
<br /> the creditor or forfei#ure proceeding and deposits with Lender monies or a surety 6ond for the creditor or forfeiture
<br /> proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or 6and 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 not remedied within any grece periocf provided therein, including without
<br /> limitation any agreement concerning any indebtedness or other obligation of 6orrower or 7rustor to Lender,
<br /> whether existing naw or]ater.
<br /> E�ents AfFeeting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br /> or accommoda#ion party of any of Ehe Indebtedness or any guarantar, endorser, surety, or accommodation party
<br /> dies or beeomes incompetent, or revo[ces or disputes the validity of, or liability uncEer, any Guaran#y of the
<br /> IndebFed�ess.
<br /> Ad�erse Change. A material adverse change occurs in Borrower's or Trustor's financial candition, or Lender
<br /> believes#he prospect of payment ar performance of the Indebtedness is impaired.
<br /> lnsecurifiy. Lender in good faith believes itself insecerre.
<br /> RIGMTS AND REMEDIES Ql� �EFAULT. If an E�ent of Default occurs under#his Deed of Trust, at any time thereafter,
<br /> Trustee or Lender rreay exercise any one or more of the following rights and remedies:
<br /> Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Note
<br /> secured hereby, Lender may declare al1 [ndebtedness sec�red by this Deed of Trust to be due and payable and
<br /> the same shal]tf�ereupon become due and payable without any presentment, demand, prOtest or notice of any
<br /> kind. Thereafter, Lender may:
<br /> (a] Either in person ar by agent, with or without bringing any action or proceeding, or by a receiver
<br /> appointed by a caurt and without regard to the adequacy of its security, enter upon and take possession
<br /> of the Property, or any part#hereof, in its own name or in the name of Trustee, and do any acts which it
<br /> deems necessary or desirable to preserve the va[ue, marketability or rentabiGty of the Property, or part of
<br /> the Properry or interest in the Properry; increase the income from the Property or protect the security of
<br /> the Property; and, with or without taking possessiort of the Properry, sue for or otherwise colEect the
<br /> rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less
<br /> casts and expenses of operation and collection attorneys` fEES,to any indebtedness secured by this Deed
<br /> of Trust, al] in such order as Lender may determine. 7he entering upon and taking passession of the
<br /> Property, the callection of such rents, issues and profits, and the application thereof shal] not cure or
<br /> waive any default or notice of default under this Deed of Trust or irtvalidate any act done i� response to
<br /> such defauf#or pursuant to such notice of default; and, notwi#hstanding t[�e continuance in possession of
<br /> the Property or the collection, receipt and application of rents, issues or profits, Trustee ar Lender shall
<br /> 6e entitled to exercise every right pro�ided for in the Nate or the Related Documents or by law upon the
<br /> occurrence of any event of default, including the right to exercise the power of sale;
<br /> (Ey} Commence an action to fareclose this Deed of Trust as a mortgage, appoin#a receiver or specificafly
<br /> enforce any of the covenants hereof; and
<br /> ic) Deliver#o Trustee a written decfaration of default and de3nand for sale and a written no#ice of default
<br /> and election to cause Trustar's interest in the Praperty to be sold, which notice Trustee shall cause to be
<br /> duly filed for record in tha appropria#e offices of the County in which the Properiy is located; and
<br /> {d} �th respect to al] or any part of the Persana[ Property, Lender shal! have all the rights and remedies
<br /> of a secured party�nder the Nebraska Unifiorm Commerciai Code.
<br /> Forecfosure by Power of Sale. [f Lender elects to foreclase by exercise of the Power of Sale herein contained,
<br /> Lender shall natify�"rustee anc{ shall deposit with Trustee this Deed of Trust and the Note and such receipts
<br /> and evidence of expenditures made and secured by this Deed of Trust as Trustee mey require.
<br /> {a1 UPon receipt of such notice from Lender, Trustee shal] ca�se to 6e recorded, published and delivered
<br /> to Trustor svch Notice of Default and Notice of Sa]e as then required by law and by this Deed of Trust.
<br /> Trustee shell, witF�out demand on Trustor, after such time as may then be required by law and after
<br /> recordation of such Natice of Default and after f�otice of 5ale having been given as required by law, se[I
<br /> the Property at the iime and place of sa[e fxed by it in such Notice of Sale, eithar as a who[e, or in
<br /> separate lots or parcels or items as Trustee sha][deem expedient, and in such order as it may determine,
<br /> at public auetion ta Yhe highest bidder for cas� in ]awfu! money of the United States payable at the time
<br /> of sa[e. Trustee shall deliver to such purchaser or purchasers thereof its good and s�fFicient deed or
<br /> deeds conveying the �roperty so sold, but without any covenant or warranfy, express or implied. The
<br /> recitals in such deed of any matters or facts shal] 6e conclusive proof of the truthfulness thereof. Any
<br /> person, including without limitation Trustor, Trustee, or Lender, may purchase at such sa[e.
<br /> (b} As may be permitted by 1aw, after c{ede�cting all costs, fees and expenses of Tr�stee and of this
<br /> Trust, inclvding costs of evidence of title in connection with sale, Trustee shal[ apply the proceeds of sale
<br /> to payment of fi} all sums expended under the terms of th9s Desd af Trust or under the terms of the Note
<br /> not then repaid, including bvt not limited to accrued inte�est and [a#e charges, fii} a[I other sums then
<br /> secured hereby, and {iii}the remainder, if any,to the person or persons legally entitled thereto.
<br /> (c) Trus#ee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedies Not Exclosive. Trustee and Lender, and each of them, shall be entiUed ta enforce payment and
<br /> perforrnance of any indebtedness or o6[igations secured by ihis Deed of Trust and to exercise all rights and powers
<br /> under this Deed of Trust, under the Note, under any ofi the Related Dacuments, or under any other agreement or
<br /> any laws now or hereafter in force; notwithstanding, sotne or all of such indebtedness and obligafions secured by
<br /> this Deed af 7rust rnay now or hereafter be otherwise secured, whether by mortgage, deed afi trust, pledge, fien,
<br /> assignment ar otherwSse. Neither the acceptance of this Deed of Trust nor its enforcement, whether by court
<br /> action or pursuant to the power of sale or other powers contained in this Deed of Trust, shall prejudice or in any
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