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� ��14���9�
<br /> DEED �F TRUST �
<br /> Laan No: 35�(]'I D997 tContinued� Page 5
<br /> condition contained in any en�irvnmental agreement executed in connection with the Property.
<br /> False 5tatements. Any warranty, representation ar statement made or furnished to Lender by Trustor or on
<br /> Trustor's behal# under this Deed of Trust or the Related Documents is false or misleading in any material respect,
<br /> eithe�now or at the time made or furnished or becomes false or misleading at any time thereafter.
<br /> Defecti�e Collateralization. This Deed of Trust or any of the Related Do�uments ceases ta be in full force and
<br /> effect {including failure of any co�lateral document to create a �alid and perfected security interest or lieny at any
<br /> time and for any reason.
<br /> Death or Insol�ency. The dissolution of Trustor's (regardless of whether election to continue is made�, any
<br /> member withdraws fram the limited liability company, or any other terminatifln of Trustor's existence as a gaing
<br /> business or the death of any member, the insol�en�y of Trustvr, the appointment of a recei�er for any part �f
<br /> Trustor's property, any assignment f�r the benefit of creditors, any type of creditor workout, or the.
<br /> commencement of any praceeding under any bankruptcy or insol�en�y laws by or against Trustor.
<br /> ,
<br /> Cr�ditor or Fvrfeiture Pr�ceedings. Commencement of fore�iosure or fvrfeiture proceedings, whether by judicial
<br /> proceeding, self-help, repossession or any other method, by any creditor of Trustar or by any go�ernmental agency
<br /> against any property seGuring the Indeb#edness. This includes a garnishment vf any o� Trustar's accounts,
<br /> including depvsit accounts, with Lender. Howe�er, th�s E�ent of Defauit shall not'apply if the�e is a good faith
<br /> dispute by Trustor as t❑ the �alidity vr reas�nableness �f the claim which is the basis of the creditor ar for�eiture
<br /> �p�o�eeding and i� Trust�r gi�es Lender written notice vf the creditor vr forfeiture proceeding and deposits wFth
<br /> Lender manies or a surety bond fvr the creditor or forfeiture proceeding, in an amount determined by Lender, in its
<br /> sole discretivn, as be+ng an adequate reser�e or bond #or the dispute.
<br /> Breach af�ther Agreement. Any breach by Trustvr under the terms of any other agreement between Trustor and
<br /> Lender that is not remedied within any grace period prv�ided therein, including without limitativn any agreement
<br /> concerning any indebtedness or other obligation of Trustor t� Lender, whether existing nvw or later.
<br /> E�ents Affecting �uarantor. Any af the preceding e�ents occurs with rsspect to any Guarantor of any af the
<br /> Indebtedness or any Guarantor dies vr becomes incvmpetent, or re�okes or disputes the �alidity vf, or liability
<br /> under, any Guaranty of the Indebtedness.
<br /> Ad�erse Change. A material ad�erse change occurs in Trustar's financial condition, or Lender be�ie�es the
<br /> prospect o�payment or p�rformance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith �elie�es itself inse�ure.
<br /> RIGHTS AND REME�IES ON DEFAIJLT. If an E�ent o� Default occurs under this ❑eed v# Trust, at any time ther�after,
<br /> Trustee or Lender may exercis� any vne flr more of�he fol�owing rights and remedies:
<br /> Acceleratian Upon Default: Additional Remedies. If any E�ent of D�fault vccurs as per the terms vf the Note
<br /> - secured h�r�by, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shall thereupon �ecom�due and payable without any pr�sentment, demand, protest or notice vf any
<br /> kind. Thereafter, Lender may:
<br /> �ay Either in person or by agent, with or without bringing any action or praceeding, or by a recei�er
<br /> appointed by a court and without reyard to the ad�quacy vf its security, enter up�n and take possessivn
<br /> of the Property, or any part thereaf, in its awn name or in the name of Trustee, and d❑ any acts which it
<br /> deems ne�essary or desirable to preser�e the Walue, marketability vr rentability of the Property, or part of
<br /> the Property or interest in the Property; increas� the income fram the Property or protect the security o�
<br /> the Property; and, with or without taking possession of the Property, sue fvr �r otherwise �ollect the
<br /> . rents, issues and profits of the Property, including those past due and unpaid, and apply the same, �ess
<br /> c�sts and expensss of operativn and collection attorneys' #ees, to any indebtedness secured by this Deed
<br /> vf Trust, all in such ❑rder as Lender may determine. The entering upon and taking possess+on of the
<br /> �Prvperty, the coll��t'rvn of such rents, issues and profits, and the application thereof shall not cure ar
<br /> wai�e any default vr natice of default under this Deed of Trust ar in�alidate any act done in response to
<br /> such default or pursuant to such nvtice of default; and, notwithstanding the continuance in possession of
<br /> the Prop�rty or the �vllection, receip� and application of rents, issues or profits, Trustee or Lender shal!
<br /> be entitled to exercise e�ery right pro�ided �or in the Nate or the Related Documents or by law upon the
<br /> occurrence o�any e�en�vf default, including the right to exercise the pvwer of sale;
<br /> fb� Commence an activn to foreclose this Deed af Trust as a martgage, appoin�a receE�er or specifically
<br /> enforce any of the co�enants hereof; and �
<br /> �cy Deli�er to Trustee a written declaration of default and demand for sale and a written notice af default
<br /> and electivn to cause Trustor's interest in the Prvperty to be sold, which notice Trustee sha1� cause ta be
<br /> duly filed for recard in the appropriate offices of the County in which the Property is located; and
<br /> {dy With respect to all or any part of the Personal Pr�perty, L�nder shall ha�e all the rights and remedi�s
<br /> of a se�ured party under the Nebraska Uniform Commercia� Code.
<br /> Fvre�lvsure hy Pvwer of 5ale. If Lender elects to tvreclose by exercise vf the Power of Sale herein cantained,
<br /> Lender shall notify Trustee and shall deposit with Trustee this ❑eed of Trust and the Note and such receipts
<br /> and e�idence of expenditures made and secured by this ❑eed of Trust as Trustee may require.
<br /> �af L1pon receipt of such notic� from Lender, Trustee shall cause t� be recvrded, published and deli�ered
<br /> to Trustor such Notice of Defautt and Nati�e o# 5a�e as then requEred by law and by this Deed of Trust.
<br /> Trustee shall, without demand on Trusto�, after such time as may then be required by iaw and after
<br /> r�cordat+on of such Notice of Defau�t and after Nvti�e �f 5ale ha�ing been gi�en as required by law, sel�
<br /> the Property at the �ime and .place of sale fixed by it in such Notice of 5a1e, either as a whale, vr in
<br /> separate Ivts �r parce�s ar items as Trustee shall deem expedient, and in such order as i� may determine,
<br /> at public auction to the highest bidder for cash in lawful m�ney vf the United States payable at the time
<br /> of sale: Trustee shall deii�er to such purchaser ar purchasers thereof its good and sufficient deed or
<br />: deeds con�eying the property so sold, hut without any ca�enant or warranty, express or implied. The
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