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201501412
<br />acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Lender is entitled to notify any of
<br />Borrower's tenants to make payment of rents due or to become due to Lender. However, Lender agrees that only on default will Lender
<br />notify Borrower or Borrower's tenants and make demand that all future rents be paid directly to Lender. On receiving the notice of default,
<br />Borrower will endorse and deliver to Lender any payments of rent in Borrower's possession. The Lender may enforce the security interest
<br />in rents and leases in any manner allowed by law. Borrower will promptly provide Lender with true and correct copies of all existing and
<br />future Leases. Borrower may collect, receive, enjoy and use the rents so long as Borrower is not in default. Borrower will not collect in
<br />advance any rents due in future lease periods, unless Borrower first obtains Lender's written consent Upon default, Borrower will receive
<br />any rents in trust for Lender and Borrower will not commingle the rents with any other funds. The Lender has discretion to use the rents
<br />and profits for the purposes of paying any accounts or debts mentioned under this Trust Deed, if said accounts or debts are not paid by
<br />Borrower. Lender shall also have the right to apply such rents to any costs of management of the property and costs related to the
<br />collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's fees.
<br />12. Transfer of Real Property. If the Borrower should, without written consent of the Lender, sell, transfer encumber or alienate the real
<br />property or any part thereof, whether voluntary or involuntarily, then the Lender shall have the right to declare all indebtedness and
<br />obligations secured by this Trust Deed, immediately due and payable. No secondary financing of any kind shall be allowed with respect to
<br />the real property without written approval of the Lender, provided such approval shall not be unreasonably withheld.
<br />13. Remedies Cumulative. All remedies provided in this Trust Deed are distinct and cumulative to any other right or remedy under this
<br />Trust Deed or afforded by law or equity and may be exercised concurrently, independently or successively.
<br />14. Default and Remedies. As expressly agreed by Borrower, in the event of Borrower's failure to comply with each and all of the
<br />conditions in this Trust Deed or Note or any other instruments affecting the loan secured hereby, time being of the essence, then the full
<br />amount secured hereby shall become due and collectible at once and the whole indebtedness shall bear interest at the highest legal rate
<br />not to exceed twenty (20) per cent. The Lender shall have the right to proceed to enforce the liquidation, which is secured herein, by
<br />mortgage foreclosure or Trustee's Sale without further notice other than provided by Nebraska law. The Borrower will have those
<br />remedies and only those remedies, available under Nebraska law or specifically mentioned in this Trust Deed. In the event default occurs
<br />and Borrower has the right to and does elect to cure the default in accordance with the Farm Homestead Protection Act, Borrower will pay
<br />Lender reasonable attorneys fees (not to exceed 1/2 of 1% of the principal balance then due) and a reinstatement fee of $100.00 for each
<br />default so cured.
<br />15. Method of Trustee Sale. If Trustee sale is elected, the Trustee, at the written request of the Lender, may sell the property in the
<br />manner provided in Section 76 -1001 through 76 -1018 of the Nebraska Revised Statutes, including amendments, with such right of
<br />postponement of sale as the Trustee shall deem best for the interest of all parties concerned. The Trustee shall convey to the Purchaser
<br />in such sale the Trustee's title and all right and title of the Borrower to the real property. The purchaser shall be discharged of all liability
<br />for the application of the purchase money once sent to the Trustee. The Trustee shall apply the proceeds of the sale, first to the expenses
<br />of sale; then to all taxes and assessments due; thence to all sums advanced by the Lender as provided in this Trust Deed together with
<br />interest; thence a Trustee's commission of two percent of the gross sale plus the Trustee's costs of reasonable attorneys fees and costs of
<br />title evidence; thence to the payment of the indebtedness and obligations secured by this Trust Deed together with interest and thence to
<br />the payment of all other Trust Deeds, mortgages and liens junior to this Trust Deed. Any proceeds of the sale in excess of the amounts so
<br />applied above shall be paid to the Borrower.
<br />16. Substitute Trustee. The Lender has the irrevocable power to appoint a substitute Trustee without specifying any reason therefore,
<br />by following the procedures outlined in Section 76 -1004 of the Nebraska statutes.
<br />17. Notices. Any notice or demand that may be given under this Trust Deed or any of the instruments affecting the loan shall be given
<br />to the Trustee at its above address and to the Borrower, at the above address by depositing in the United States Mail, postage prepaid,
<br />except that notices of default and sale shall be sent by certified or registered mail to each party hereto and request for such notice is
<br />hereby made by each party hereto.
<br />18. Release Upon Full Payment. Upon payment and satisfaction of the terms of this Trust Deed and the Note or Notes and other
<br />amounts secured hereby, a reconveyance shall be made and executed by the Trustee.
<br />19. Severability. If any provisions of this Trust Deed shall be held invalid under Nebraska law, the validity of the remainder of this Trust
<br />Deed shall not be affected and the remainder of this Trust Deed shall be construed as if the invalid provision was never included.
<br />20. Successors and Assians. This Trust Deed applies to and inures to the benefit of and binds all parties hereto, their heirs, legatees,
<br />devicees, Personal Representatives, successors and assigns. The term, "Beneficiary ", shall mean the owner and holder of the note,
<br />whether or not named as Beneficiary herein.
<br />21. Designation of Homestead. None.
<br />22. Special Provisions. None.
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