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02 -18 -2000 200001472 DEED OF TRUST Page 6
<br />Loan No 766278 (Continued)
<br />Trustor or Borrower's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any
<br />proceeding under any bankruptcy or insolvency laws by or against Trustor or Borrower.
<br />Foreclosure, Forfeiture, etc. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self —help, repossession
<br />or any other method, by any creditor of Trustor or by any governmental agency against any of the Property. However, this subsection shall not
<br />apply in the event of a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of the foreclosure or
<br />forefeiture proceeding, provided that Trustor gives Lender written notice of such 'claim and furnishes reserves or a surety bond for the claim
<br />satisfactory to Lender.
<br />Breach of Other Agreement. Any breach by Trustor or Borrower under the terms of any other agreement between Trustor or Borrower and
<br />Lender that is not remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness
<br />or other obligation of Trustor or Borrower to Lender, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br />dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. Lender, at its option,
<br />may, but shall not be required to, permit the Guarantor's estate to assume unconditionally the obligations arising under the guaranty in a
<br />manner satisfactory to Lender, and, in doing so, cure the Event of Default.
<br />Insecurity. Lender in good faith deems itself insecure.
<br />Existing Indebtedness. A default shall occur under any Existing Indebtedness or under any instrument on the Property securing any Existing
<br />Indebtedness, or commencement of any suit or other action to foreclose any existing lien on the Property.
<br />Right to Cure. If such a failure is curable and if Trustor or Borrower has not been given a notice of a breach of the same provision of this Deed
<br />of Trust within the preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) if Trustor or Borrower, after
<br />Lender sends written notice demanding cure of such failure: (a) cures the failure within ten (10) days; or (b) if the cure requires more than ten
<br />(10) days, immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps
<br />sufficient to produce compliance as soon as reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Trustee or Lender, at its option,
<br />may exercise any one or more of the following rights and remedies, in addition to any other rights or remedies provided by law:
<br />Acceleration upon Default; Additional Remedies. If any event of default occurs as per the terms of the Note secured hereby, Lender may
<br />declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without
<br />any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without
<br />regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its own name or in the name
<br />of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part
<br />of the Property or interest in the Property; increase the income from the Property or protect the security of the Property; and, with or without
<br />taking possession of the Property, sue for or otherwise collect the rents, issues and profits of the Property, including those past due and
<br />unpaid, and apply the same, less costs and expenses of operation and collection, including attorneys' fees, to any indebtedness secured
<br />by this Deed of Trust, all in such order as Lender may determine. The entering upon and taking possession of the Property, the collection
<br />of such rents, issues and profits, and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust
<br />or invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the continuance in
<br />possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall be entitled to
<br />exercise every right provided for in the Note or the Related Documents or by law upon the occurrence of any event of default, including the
<br />right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the covenants
<br />hereof; and
<br />(c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause Trustor's
<br />interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the appropriate offices of the County in
<br />which the Property is located; and
<br />(d) With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the
<br />Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained, Lender shall notify Trustee and
<br />shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured by this Deed of
<br />Trust as Trustee may require.
<br />(a) Upon receipt of such notice from Lender, Trustee shall cause to be recorded, published and delivered to Trustor such Notice of Default
<br />and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall, without demand on Trustor, after such time as may
<br />then be required by law and after recordation of such Notice of Default and after Notice of Sale having been given as required by law, sell
<br />the Property at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as
<br />Trustee shall deem expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of
<br />the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or
<br />deeds conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters
<br />or facts shall be conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br />purchase at such sale.
<br />(b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, including costs of evidence of
<br />title in connection with sale, Trustee shall apply the proceeds of sale to payment of (i) all sums expended under the terms of this Deed of
<br />Trust or under the terms of the Note not then repaid, including but not limited to accrued interest and late charges, (ii) all other sums then
<br />secured hereby, and (iii) the remainder, if any, to the person or persons legally entitled thereto.
<br />(c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br />Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and performance of any indebtedness
<br />or obligations secured by this Deed of Trust and to exercise all rights and powers under this Deed of Trust, under the Note, under any of the
<br />Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding, some or all of such indebtedness
<br />and obligations secured by this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
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