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<br /> 25. Events of Default. Each of the following occurrences shall constitute an event of default hereunde�, lhereinafier an "Event of Default"l:
<br /> lal Any amouni payable under the Obligations secured by this Deed of Trust is not paid when due, after giving effect to any applicable
<br /> grace period therein,
<br /> (b/ Trustor is otherwise in default under the terms of the Obligations,
<br /> (c/ Trustor fails to observe or peiform any of the covenanis, agreements, or conditions in this Deed of Trust,
<br /> /d/ Any representation or warranty including, but not limited to, any warranty of title made 6y Trustor in ihis Deed of Trust is false o�
<br /> materially misleading, or
<br /> /e) Trustor sells o�conveys the Tiust Property, or any pait thereof, o�any interest therein, or is divested of its title, or any interest
<br /> therein, in any manner or way, whether voluntarily or involuntarily, without the prior writien consent of Beneficia�y.
<br /> 26. Acce%ration of Debi;Forec%sure. Upon the occurrence of any Event of Default, or any time thereafte�until such Event of Default is
<br /> cured to the satisfaction of Beneficiary, Beneficiary may, at its option, declare all Obligations secured hereby immediately due and payable
<br /> and the same sha//bear interest at the defau/t�ate, if any, set forth in the Note or ihe defau/t rate, if any, set fo�ih in ihe most recent
<br /> obligation cove�ed by the Guaranty, or oiherwise at the highesi rate permitted by law, and, irrespective of whether Beneficiary exercises
<br /> said option, it may, at its option and in iis so%discietion, without any fu�ther notice or demand to or upon Trustor, do one or mo�e of
<br /> ihe fol%wing:
<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 for or otherwise collect and receive rents, issues and p�ofits, including those past due and unpaid, and
<br /> apply the same,less costs and expenses of operation and collection, including reasonable aitorneys'fees and Beneficiary's costs, upon
<br /> the Ob/igations secured hereby and in such o�der as Beneficiary may c+etermine. Upon request of Beneficiary, Trustor sha//assemb/e and
<br /> shall make available to Beneficiary any of the 7rust Prvnerty wh.rch ha:been remcved. The entering upor, and taking possession of the
<br /> T�ust Property, the collection of any�ents, issues and profits, and the application thereof as aforesaid, shall not cure or waive any
<br /> default the�etofore o�thereafter occu�ring, o�affect any notice of default or notice of sale hereunder or invalidate any act done pursuant
<br /> to any such notice. Notwithstanding Beneficia�y's continuance in possession or receipt and app/ication of rents, issues or profits,
<br /> Beneficiary shall be entitled to exercise every�ight provided for in this Deed of Trust or by law upon or after the occurrence of an Event
<br /> of Default, including the right to exe�cise 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 regard to the adequacy of any security for the Obligations secured hereby.
<br /> (bl Beneficiary shall, without rega�d to the adequacy of any security for the Obligations secured hereby, be entitled to the appointment
<br /> of a receiver by any court having ju�isdiction, without notice, to take possession of,protect, and manage the Trust Property and operate
<br /> the same and collect the rents, issues and p�ofits therefiom.
<br /> /c/ Beneficiary may bring any action in any court of competent jurisdiction to forec/ose this Deed of Trust or enforce any of the
<br /> covenants hereof.
<br /> (d) Beneficiary may elect to cause the Trust Property or any part thereof to be sold under the powe�of sale, and in such event,
<br /> Beneficiary or Trustee shall give such notice of default and notice of sale to each party to this Deed of Trust by mail at the address set
<br /> forth herein and any other 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 required by law, Trustee, at the time and place specified by the notice of sale, shall sell such Trust
<br /> Property, or any part thereof specified by Beneficiary at pub/ic auction to ihe highest bidder for cash in/awfu/money of the United
<br /> States of America. Upon receipi of payment of the bid price, Trustee shall apply the proceeds in the following order: (il to the cosr 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 pe�cent of the gross sale price, and reasonable attorneys'fees, lirl to the Obligations, and/iii) the excess, if any, to the
<br /> person or persons legally entitled ihereto.
<br /> All costs and expenses incur�ed by Beneficiary in enforcing any right under this Deed of Trust, including without limitation, abstract or title
<br /> fees, appraisa/fees,premiums for tit/e insuiance, attorneys'fees and court costs, sha//be and constitute Ob/igations secured hereby.
<br /> 27. Duties of Trustee. Trusto�ag�ees that:
<br /> lal The duties and obligations of Tiustee shall be dete�mined solely by ihe express provisions of this Deed of Trust and Trustee shall not
<br /> be liable except for the performance of such duties and obligations as are specifically set fo�th herein, and no implied covenants or
<br /> obligations shall be imposed upon Trustee,
<br /> (bl No p�ovision o!this Deed of Trust shall�equire Trustee to�xpend or risk its own funds, or otherwise incu�any financial obligation in
<br /> the performance of any of its duties hereunde� or in the exercise of any of its rights o�powers,
<br /> IcJ 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 T�ustee shall not be liable for any action taken by it in good faith and reasonably believed by it to be autho�ized or within its
<br /> discretion or rights or powers conferred upon it by this Deed of Trust.
<br /> 28. SecurityAgreement and Fixtu�e Fi/ing. From the date of_its recording, this Deed of Trust shall constitute a security ag�eement and
<br /> fixture filing under the provisions of the Nebraska Unifo�m Commercial Code with�espect to those fixtures described in the preambles hereof
<br /> as constituting a part of the Trust Property, together with all other property of Trusto�, either slmilar or dissimilar to the same, now or
<br /> hereafter located at or on the Trust Property. Fo�this purpose, the following.in#ormation.is set forth:
<br /> la/ Name and Address of Debtor/Trustor. /61 Name and Address of Secured Party/Beneficiary:
<br /> Russell J. Martinez Norwest Bank Nebraska, National
<br /> Association
<br /> 330 Gunbarrell Road 202 West Third Street
<br /> Grand Island, NE 68801 Grand Island, NE 68801
<br /> (cl Debtor's SocialSecurityNumber/FederalTaxpayerl.D. Number 505580313
<br /> ld) This document covers goods which are or a�e to become fixtures.
<br /> lel The name of the record owner of the Trust Property is the DebtoNTrustor described above.
<br /> 29. Future Advances. Beneficiary, at Beneficiary's option,prior to full reconveyance of the Trust P�operty by Trustee to Tiustor, may make
<br /> future advances to Trustor. Such future advances, with interest ihereon, shall be secu�ed by this Deed of Trust. At no time shall the principal
<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 100, 000.00
<br /> Nothing herein contained shall imply any obligation on the part of the Beneficiary to make any such additiona!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 optional advances.
<br /> 30. Reconveyance. Upon payment of all Obligations secured by this Deed of Trust, Beneficiary shall request Trustee to reconvey the Trust
<br /> Property and sha//sunender this Deed of Trust and a//notes evidencing Ob/igations secured by this Deed of Trust to Trustee. Trustee sha//
<br /> reconvey the Tiust Property without warranty and without charge 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 T�ustee and appoint a Successor Trustee to any Trustee
<br /> appointed hereunder by an instrument recorded in the county in which this Deed of Trust is recorded. Without conveyance of the Trust
<br /> Property, the Successor Trustee shall succeed to all title,power and duties confe�red upon Trustee he�ein and by applicable law.
<br /> 32. Misce//aneous Rights of Beneficiaiy. Beneficiary may at any time and fiom time to time, without notice, consent to the making of any
<br /> plat of the Trust Prope�ty or the creation of any easement thereon or any covenants restricting use or occupancy thereof or agree to alter or
<br /> amend the terms of this Deed of Trust. Any personal property remaining upon the Trust Property after the Trusi Property has been possessed
<br /> or occupied by Beneficia�y, its agent or any purchaser fo//owing Trustee's sa/e or foiec/osure, or under any deed in/ieu of Trustee's sa/e or
<br /> forec%sure, shall be conclusively presumed io have been abandoned by Trustor.
<br /> 33. Trustor hereby requests that a copy of any notice of default and notice of sale made or executed by Tiustee pursuant to the provisions
<br /> hereof be sent to Trustor at its mailing address set fo�th above. I
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