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' . ' aE_����00000139 9 �► 111532
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<br /> � / 11. �vente of Uefaull.�'I'hc following aliall constltu�o an I?vent of llefault undcr tlils UecJ of Trust:
<br /> • (a) Falluro to pay any Installment of principal or interest of auy otl�er euu�secured liereby wlien Jue;
<br /> � (b) A bresch of or Jefault under any ptoviaion contelned in tl�e Nola, tl►Is Deed of Truat, any of Q�a Loan Iustruments, or
<br /> �any otl�er lien or encumbrance upon q�e Pcoperty;
<br /> (c) A wrlt of execution or attacl�ment or any eimilar process sl�all be enlered agalnat Trustor wldcii al�all become a lien on
<br /> the Property or any portfon Qiereof or lnterest Uierei�r, .
<br /> (d) Tlure ehall be filed by or agafnst Trustor or porrower an action,under any present or firtutc federal, state or other
<br /> ' statute, law or regulatfon relating to bankruptcy, insolveucy or otlier relief for deUtore; or tl�ere shall be appointed any trustee,
<br /> •receiver or liquidator of Ttustor or Borrower or of all or any part of tl�e Property, or the rents, }ssues or profits U�ereof� or
<br /> Trustor or porrower ahall make any general assigntnent for the benefit of creditore;
<br /> (e) Tl�e sale, transfer, lease, assignment, conveyance or furtl�er encutnbrance of all or any patt of or any interest in the
<br /> Property, either voluntarlly or involuntarily, will�out tl�e express written consent of Lender, provlded that Trustor shall be
<br /> permitted to eaecute a lease of tlie Property tl�at does not contain an option to purcl�ase and tl�e term of whicli does not exceed
<br /> � one year; �� ! � � � • • .
<br /> (� Abandonment�of O�e Property; or � ' �
<br /> ' (g) If Trustor Is not an individual, tl�e lssuance, sale, transfer, assignment, conveyance or encumbrance of more than (if a
<br /> corporation) a total of N��_percent of its issued and outstanding stock, or (if a partnership) a total of NiA percent
<br /> of partnership lnterests, or(if a limited liability company)a rotal of N�A percent of the limited liabillry company interests
<br /> or voting rigl�ts during tl�e period tl�is Deed of Trust remains a lien on tl�e Property.
<br /> (t�) If tl�e obligation secured t�ereby ls guaranteed in wl�ole or ln part by tl�e Farmera tiome Adminiatration, borrower furtl�er
<br /> agrees that tl�e loan(s) secured by this instrument will Ue in default sl�ould any loan proceeds be used for a purpose d�at will
<br /> contribute to excessive erosion of liiglily erodible land or to tlie conversion of wetland to produce or to make possible Uie
<br /> production of an agrfcultural commodity, es furtlier expiained in 7 CPR Part 1940, Subpart Cl, Exl►ibit M.
<br /> 12.Remedies; Accelerallon Upon llefault. In tl�e event of any L�vent of Default LenJer may, witl�out notico except as required
<br /> by law, declare all Indebtedness aecured I�ereby to be due and payable and tl�e eama elisll'd�ereupon becoma due and payablc
<br /> without any presenlment, demand, proteat or notice of any kind. 7'liereatlar Lencier may: �
<br /> (a) Demand tl�at Trustee exercise tiie POWL�R OF 5ALC3 granted l�ereln, and Truatee el�all tlureatler causo Trustor'e (ntereat
<br /> In the Property to be eold and the nroceeds to be distrlbuteJ, all in the nlanner provided iii tl�e Nebraska Trust Deeds Act;
<br /> (b) L�xercise any and all tlghts provldeJ for in any of the Loau Iu9ttuments or by law upon occurrenco of any Event of
<br /> Default; and
<br /> (c) Commence an actlon to foreclose tl�la Dced of Truat As a mortgaga, appoint a receiver, or epecitically enforce any of the
<br /> covenants l�ereof.
<br /> No remedy I�erein conCerred upon or reserved to Trustee or Lender is intended to be exclusiva of any other remedy herein, in tl�e
<br /> Lvan Instruments or by law provided or permitted, but eacl� sliail be cumulative, sl�all be in addition to every oUier remedy given
<br /> I�ereunder, in tlie Loan Instruments or now or l�ereafter existing at law or ln equity or by atatute, and may be exercised concurrently
<br /> independently or successively.
<br /> 13.'IYustee. The Trustee may resign at any t�ma wul�out cause, and Lender may at any time and without cause appoint a
<br /> successor or substitute Trustee. Trustee shall not`bc liabla to any party, lncluciing witl�out limitation Lender, Borrower, Trustor or
<br /> any purchaser of Q�e Property, for any loss or damage�unless due to reckless qr willful misconduct, and shall not be required to take
<br /> any action irt connection with tl�e enforcement of Qii`s Deed of Trust unless indemnifted, in writing, for ail costs, compensation or
<br /> eapenses which may be associated therewitl�. In addition, Trustee may become a purcl�aser at any sale of the Property (judicial or
<br /> under U�e power of sale granted hereln); postponc U�e sale of all or any portion of the Property, as provided by law; or sell the
<br /> . Property as a whole;or in separate parcels or lots at Trustee's discretion.
<br /> 14.Fees and Expenses. In the event Ttustee aells the Property by exercise of power of sate, Trustee sliall be entitled to apply
<br /> any sale proceeds first to payment of all costs and expenses of eaercising power of sale, including all Trustee's fees, and L.ender's.
<br /> and Trustee's attorney's fees, actually incurred to extent permitted by applicable law. In d�e event Borrower or Trustor exercises
<br /> any right provided by law to cure an Event of Default, Lender sliall ba entitled to recover from Trustor all costs and eapenses
<br /> actually incurred as a result of Trustor's default, including witi�out limitation all Trustee's and attorney's fees, to U�e eatent
<br /> permitted by applicable law.
<br /> I5.Future Advances. Upon request of Borrower, Lender may, at its option, tnake additional and future advances and
<br /> readvances to Borrower. Sucl� advances and readvances, witli interest tl�ereon, shall be secured by this Deed of Trust. At no time
<br /> ' shall U�e principal amount of the indebtedness secureJ by tl�is Ueed of Trust, not Including sums advanced to protect tl�e security of
<br /> this Deed of Trust, exceed U�e aggregate of Q�e original principal amounts stated hereln, or � 725,000.00 �
<br /> whicf�ever is greater. .
<br /> • 16.Mlscellaneous Provlsions.
<br /> (a) Borrower Not Released. L�atension of tl�e tlme for payment or modification of amortization of tl�e sums secured by U�is
<br /> Deed of 'I'rust granteJ by Lender to any auccessor in intetest of Dorrower ahall not operatc to release, ln any manner, d�e
<br /> liahlllty of tl�e original Dorrower and i3orrower's successora ln interest. Lender al�all not be required to comtnence proceedings
<br /> against suct� successor or refuse to extend time for payment or otl�erwise modify a�i�ortlzation of tt�e sums secured by tl�is Deed
<br /> of Trust by reason of any demands macle Uy tl�e orlginal Dorrower and Dorrower's successora in lnterest.
<br /> (b) Lender's Powere. W1tl�out affecting tl�e liability of any otl�er person Ilable for tl�e payment of any obllgation I�ereln
<br /> mentioned, and without affecting tl�a lieu or cl�arge of tliis Deed of Trust upon any portlon of tl�e Property not tlien or
<br /> U�eretofore released as securlty for the full amount of all unpaid obligations, Lender may, from dme to tlme and without notice
<br /> (i) release any person ao liable, (ii) eatenJ tl�e malurity or alter any of tl�e terma of any such obligetlons, (iii) grant otl�er
<br /> lndulgences, (iv) release or reconvey, or cause to be released or reconveyed at ay tlme at LenJer's optlon any parcel, portlon or
<br /> all of tl�a Property, (v) take or telease any otl�er or additional securlly for any obligation 1►erein mentioned, or (vl) make
<br /> compositions or otlier arrangements wiW debtors in relation tliereto.
<br /> (c) Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> otherwise afforded by applicable law, shall not ba a waiver of or preclude tl�e ezercise of any such right or remedy. Tl�e
<br /> procurement of insurance or the payment of taxes or otl�er liens or charges by I.ender sl�all not be a waiver of I.ender's right to
<br /> • accelerate U�e maturity of U�e indebtedness secured by U�is Deed of Trust.
<br /> (d) Successora and Assigns Bound;Joint and Several Liabillty; Captfons. Tl�e covenants and agreements herein contained
<br /> shall bind, and the rights hereunder shall inute to, tl�e respective successdrs and assigns of I.ender a�id Trustor. All covenants
<br /> and agreements of Trustor shall be Joint and several. 7'I�e captions and I�eaclings of tl►e paragrapha of this Deed of Trust are for
<br /> convenience only and aro not to be used to lnterpret'br deCne the provlsions hereof.
<br /> (e) Request for Nolices. Tl�e parties I�ereby request tliat a copy of any notice of default l�eceunder and a copy of any notice
<br /> of sale I�ereunder be mafled to eaclt party to tl�is Deed of Trust at tl�e address set forth above in tl�e manner prescribed by
<br /> • applicable law. Eacept for any otl�er notice required under applicable law to be given in another manner, any nolice provided
<br /> for in this Deed of Trust shall be given by mailing sucl� notfce by certif�ed mail addressed to U�e otl�er parties, at tl�e address set
<br /> fortl� above. Any notice provided for ln tl�is Deed of Trust sl�all be effective upon mailing in tl�e menner designated t�erein. If
<br /> Trustor is more Q�an one person, notice sent to tl�e address set forth aUove sl�all be notice to all auch persons.
<br /> (Q lnspecllon. Lender may make or causa to be mada reasonabla entries upon and lnspectlons of tl�e Property, provided
<br /> itiat Lender sl�all give Trustor notice prlor to any sucli lnspection specifying reasonable cause'Q�erefor related to Lender's
<br /> fnterest in U�a Property, , „ .
<br /> (g) Reconveyance. Upon payment of all aums seciired by tlds Deed of Trust, LenJer al�all request Trustee to reconvey tl�e
<br /> Property and el�all surrcnder tl�fs Deed of Trust nnd all nolce evidencing lndehtednesa eecured hy tt�le Dced of Truet to Truetee.
<br /> Truslec shall reconvey the Property wilhout warrnnry nnd wlthout cl�arga to Ihe pereon or persons legally endtled thereto.
<br /> Trustor el�all pay all costs of recordatlon, If any, .
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