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<br /> 25. Events of Defau/t. Each of the following occuirences shall constitute an event of default hereunder, (hereinafter an "Event o!Default"I: '
<br /> la)Any amount payable unde�the Obligations secured by this Deed of Trust is not paid when due, after giving effect to any applicable
<br /> grace period iherein,
<br /> (bJ Trusto�is otherwise in defauli under the te�ms of the Obligations, �
<br /> (c/ Trusto�fails to observe or perfo�m any of the covenants, agreements, o�conditions in this Deed of Trust,
<br /> ldJ Any representation or warranty including, but not limited to, any warranty of title made by T�ustor in this Deed of Trust is false or
<br /> materially misleading, or
<br /> (e) Trustor sells or conveys the Trust Property, or any pari the�eof, or any interest therein, or is divested of its title, or any interest
<br /> therein, in any manner oi way, whethe�voluntarily or involuntarily, without ihe prio�written consent of Beneficiary.
<br /> 26. Acce%raiion of Debt;Forec%sure. Upon the occurrence of any Event of Default, or any time thereafter until such Event of Default is
<br /> cured to the satisfaction of Beneficiary, Beneficiary may, at its option, decla�e al!Obligations secured hereby immediately due and payable
<br /> and the same sha//bea�interest at the defau/t rate, if any, set forth in the Note or the defau/t rate, if any, set forth in the most recent
<br /> obligation covered by the Guaranfy, or otherwise at the highest rate permitted by law, and, irrespective of whether Beneficiary exercises
<br /> said option, it may, at its option and in its sole discretion, without any further notice or demand to or upon Trustor, do one or more of
<br /> the following:
<br /> (a/ Beneficiary may enter upon, take possession of, manage and operate the Trust Property or any part thereof,•make repairs and
<br /> alterations and do any acts which Beneficiary deems proper to protect the security thereof, and either with or without taking
<br /> possession, in its own name, sue foi oi othe�wise collect and receive rents, issues and profits, including those past due and unpaid, and
<br /> apply the same, less costs and expenses of operation and col%ction, including reasonable attorneys'fees and Beneficiary's costs, upon
<br /> the Obligations secured hereby and in such order as Beneficiary may determine. Upon request of Beneficiary, Trustor shall assemble and
<br /> shall make available to Beneficiary any of the Trust P�operty which has been removed. The entering upon and taking possession of the
<br /> Trust Properiy, the collection of any rents, issues and profits, and the application thereof as aforesaid, shall not cure or waive any
<br /> default theretofo�e or thereafter occurring, or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant
<br /> to any such notice. Notwithstanding Beneficiary's continuance in possession or receipt and app/ication of rents, issues or profits,
<br /> Beneficiary shall be entitled to exercise every right provided for in this Deed of T�ust or by law upon or after the occurrence of an Event
<br /> of Default, including the�ight to exercise the power of sale. Any of the actions referred to in this Section may be taken by Beneficiary at
<br /> such time as Beneficiary may determine without�egard to the adequacy of any security for the Obligations secured hereby.
<br /> (bl Beneficiary sha//, without regard to the adequacy of any security fo�the Ob/igations secured hereby, be entit/ed to the appointment
<br /> of a�eceiver by any court having ju�isdiction, without notice, fo take possession of,protect, and manage the Trust Property and operate
<br /> ihe same and collect the rents, issues and profits therefrom.
<br /> /cl Beneficiary may bring any action in any court of competent jurisdiction to foreclose this Deed oJ Trust or enforce any of the
<br /> covenants hereof.
<br /> (dl Beneficiary may elect to cause the Trust Property or any part thereof to be sold under the power of sale, and in such event,
<br /> Beneficiary or Trustee sha//give such notice of defau/t and notice of sa/e to each party to this Deed of T�ust by mai/at the address set
<br /> forth herein and any othe�notice which may be then required by law. Thereafter, upon the expiration of such time and the giving of
<br /> such notice of sale as may then be iequired by law, Trustee, at the time and place specified by the notice of sale, shall sell such Trust
<br /> P�operty, or any part thereof specified by Beneficiary at pub/ic auction to the highest bidder fo�cash in/awfu/money of the United
<br /> Staies of America. Upon receipt of payment of the bid price, Trustee shall apply the proceeds in the following order.• /il to the cost and
<br /> expenses of exe�cising the power of sale and of the sale, including but not limited to, trustee's fees of not more than S500.00 plus
<br /> one-half of one percent of the gross sale price, and reasonable aitorneys'fees, (iil to the Obligations, and liii) the excess, if any, to the
<br /> person or persons legally entitled thereto.
<br /> All costs and expenses incurred by Beneficiary in enforcing any right under this Deed of Trust, including without limitation, abstract or title
<br /> fees, appraisal fees,premiums for title insurance, attorneys'fees and court costs, shal!be and constitute Obligations secured hereby.
<br /> 27. Duties of Trustee. Trustor agrees that:
<br /> (a) The duties and obligations of Trustee shal!be determined so%ly by the express p�ovisions of this Deed of Trust and Trustee shall not
<br /> be liable except for the pe�formance of such duties and obligations as are specifica!ly sei forth he�ein, and no implied covenants or
<br /> obligations shall be imposed upon Tiusiee,
<br /> (b) No provision of this Deed of Trust shall�equire Trustee to expend or risk its own funds, or otherwise incur any financial obligation in
<br /> the pe�formance of any of its duties he�eunder, or in the exercise of any of its rights or powers,
<br /> (c) Trustee may consult with counsel of its own choosing and the advice of such counsel shall be full and complete authorization and
<br /> protection in the respect of any action taken or suffered by it hereunder in good faith and reliance thereon, and
<br /> Idl Trustee shall not be liable for any action taken by it in good faith and reasonably believed by it to be authorized or within its
<br /> discretion or righis or powers confe�red upon it by this Deed of Trust.
<br /> 28. Security Agreement and Fixture Fi/ing. From the date of its reco�ding, this Deed of Trust shall constitute a security agreement and
<br /> fixture filing under the provisions of the Nebraska Uniform Commercial Code with respect to those fixtures described in the preambles hereof
<br /> as constituting a part of the Trust Property, togeihe�with all other property of Trustor, either similar o�dissimilar to the same, now or
<br /> hereafter located at or on the Trust Property. For this purpose, the fol%wing information is set forth:
<br /> (a/ Name and Address of Debtor/Trustor: (bJ Name and Address of Secured Party/Beneficiary:
<br /> Robert M. Allen Family Limited Norwest Bank Nebraska, National
<br /> Partnership Association
<br /> 1115 West 2nd St. 747 N. Burlington Ave.
<br /> Hastings, NE 68901 Hastings, NE 68901
<br /> (cl Debto�'s Social Security Number/Federal Taxpaye�l.D. Number 4 7 0 8 0 710 4
<br /> (d/ This document covers goods which are or a�e to become fixtures.
<br /> (el The name of the record owner of the Trusi Property is the DebtoNTrustor described above.
<br /> 29. Future Advances. Beneficiary, at Beneficiary's option,p�ior to full reconveyance of the Trust Property by Trustee to Trustor, may make
<br /> future advances to Trustor. Such futu�e advances, with interest thereon, shall be secured by this Deed of T�ust. At no time shall the p�incipal
<br /> amount of the Obligations secured by this Deed of Trust, not including sums advanced to protect the security, exceed the total sum of
<br /> S 1,500, 000.00
<br /> Nothing he�ein coniained shall imply any obligation on the part of ihe Beneficiary to make any such additional advances.
<br /> Advances of disbursements made by Beneficiary to protect the security, under the terms hereof, while discretionary, shall not be deemed to
<br /> be opiional advances.
<br /> 30. Reconveyance. Upon payment of a//Ob/igations secured by this Deed of Trust, Beneficia�y sha//request T�ustee to reconvey the Trust
<br /> Property and shall surrender thrs Deed of Trust and all notes evidencing Obligations secured by this Deed of Trust to Trustee. Trustee shall
<br /> reconvey the T�ust Property without warranty and without cha�ge to the person or persons legally entitled thereto. Such person or persons
<br /> shall pay all costs of recordation, if any.
<br /> 31. Substitute Tiustee. Beneficiary, at its option, may from time to time remove Trustee and appoint a Successor Trustee to any Trustee '
<br /> appointed hereunder by an instrument recorded in the county in which ihis Deed of Trust is recorded. Without conveyance of the Trust
<br /> Property, the Successor Trustee shall succeed to all title,power and duties conferred upon Trustee herein and by applicable law.
<br /> 32. Misce//aneous Rights of Beneficiary. Beneficiary may at any time and from time to time, without notice, consent to the making of any
<br /> plai of the Trust Property or the creation of any easement thereon o�any covenants rest�icting use or occupancy the�eof or agree to alte�or
<br /> amend ihe terms of this Deed of Trusf. Any personal property remaining upon the Trust Property after the Trust Property has been possessed
<br /> or occupied by Beneficiary, its ageni o�any purchaser following Trustee's sale or foreclosure, or under any deed in lieu of Trustee's sale or
<br /> foreclosure, shall be conclusively p�esumed to have been abandoned by Trustor.
<br /> 33. Trustor he�eby requests that a copy of any notice of default and notice of sale made o�executed by Tiustee pursuant to the provisions
<br />� he�eof be seni to Trustor at its maifing address set forth above.
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