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Z�15�53�5
<br /> �EED �F TRLJST
<br /> {Cantinued} Page 5
<br /> Defectirre Callateralizatian. This Deed ofi Trust or any of the Re�ated Do�umen�s ceases to be in �u11 fares and
<br /> effect ��ncluding �ailure vf any collateral document ta cr�ate a valid and perf�cted security interes�vr lieny at any
<br /> time and for any reas�n.
<br /> aeath or insol�en�y, The dissoCution o� Trustor's tregardless �f vuhether e�ection to continue is made�, any
<br /> memher withdraws fr�m the limit�d liahility company, or any ❑ther terrninatian af Trustor's �xEst�nce as a going
<br /> business or the death af any mernber, the ins�l�enGy vf Trus�or, the appointrnent of a �ecei�er for any part of
<br /> Trustor's property, any assignment far the benefit vf creditors, any �ype o� cred�tor wvrkaut, ❑r the
<br /> commencement of any pro�eeding under any bank�uptcy or insal��ncy�a►►vs by�r against Trustvr,
<br /> Credi#vr ar Farfeiture Proceedin�s. ��mmenc�ment of foreclasure ar f�rf�ixure proceedings, whether hy judicia[
<br /> prviceeding, sel#-he�p, re�ossession or any �ther methvd, by any�red�tor a�Trustvr or by any go�ernmenta�agenCy
<br /> against any property securing the indebtedness. This includes a garnishment a# any ❑� Trustor's accaunts,
<br /> including deposit accounts, with Lende�. Howe�er, this E�ent of ❑efault shall nvt a�ply if th�re is a goad faith
<br /> dispute �y Trustvr as tv the�alidity❑r reasonableness of the clairn which is the bas�s af the creditor a��or���ture
<br /> proceeding and if Trus�vr gi�es Lender wri�ten notice vf the creditor vr for�e�ture praceeding and depasits with
<br /> Lender monies ar a sure�y bvnd far the cr�:ditor or fiarfeiture proceeding, in an amaunt determined by Lender, in its
<br /> svte discretion, as being an adequate reser�e or bond fvr the dispute.
<br /> Breach of Other Agreemen#, Any breach by Trustvr under�he t�rms of any other agreement b�tw�en Trustar and
<br /> Lend�r that is not remedied within any grace periad pro��ded therein, including without limitation any agreement
<br /> Goncerning any indebtedness vr o�ther obligation of Trustar ta Lender, whethe�existing naw❑�later.
<br /> E�ents Affect�ng Guarantor. Any of the preceding events �ccurs �rvi�h respec� tv any Guarantor o� any of the
<br /> Indebt�dness or any Guaran�or dies or hecomes incampetent, �� re�vkes ar disputes the validity of, or �iability
<br /> under, any Guaranty af the�ndebtedness,
<br /> Ad�erse Change. A ma�erial ad�erse chang� occurs in Trustar's financial candi�ian, vr Lender �elie�es the
<br /> pr�spect af paym�nt ar perfarmance❑f the lndebtedness is impaired.
<br /> Insacur�ty. Lender in gvod faith belie�es its�lf insecure.
<br /> Right fa Cure. I�any defaul�, ather than a default in pa�men�, is curabl� and if Trustar has n�t been gi�en a noti�e
<br /> of a b�each o��he same pro�isian of this ❑eed�#Trus�within the preceding twel�e 4�Z� rnanths, it may be cured ifi
<br /> Trustor, a#ter Lende�sends written natice ta Trustvr dernanding cure af su�h de€ault: �1� �ures the defaul�within
<br /> twen�ty t��� days; ar �2f if the cure requir�s mare �han twenty [�0} days, immediately initiates steps which
<br /> Lender deems in Lender's sa�e d�scre�ion ta be sufficient t❑ �ure the default and thereafte� cantinues and
<br /> completes a�f reasonable and necessary steps sufficien��v pradu�e cornp�iance as s�on as reasonably practical.
<br /> R�GHTS AND REIVIEDIES �]N DEFAULT. If an E�ent af Default�ccurs under this De�d af Trust, at any time�herea�ter,
<br /> T�ustee or Lender may�xercise any on�or more o#the following rights and remedies:
<br /> A�celeratian Upon Defauf�:Additinnal Remedies. If any Event of De�ault accurs as per the terms of the No�Ce
<br /> secured here�y, Lender may declare all Indebtedness secured by this ❑eed❑#Trust ta be due and payable and
<br /> the same shali ther�upon become due and payable►rvithout any presen�ment, demand, protest or nvtice v�any
<br /> kind. Ther�af�er, Lender rnay:
<br /> {a� Either in person or by a��n�, with ❑r wi�hout br�nging any action ar proceeding, or by a recei�er
<br /> appointed by a court and without regard to the adequacy of its security, enter upan and take p�ssessivn
<br /> of fihe Praperty, ❑r any part thereof, �n its awn narne or in the name❑f Trustee, and dv any acts►►vhich i�
<br /> deems necessary or desirahle tv preser�e the va�ue. marketability❑r rentah�lity❑�the Property, or part o�
<br /> the Proper�y or�nteres�in the Property; inc�eas�the inc�me fram�he Prope�ty or prvtect th� security a�
<br /> the Praper�y; and, wi�Ch ar without fiaking poss�ssiQn v# the Property, sue fiar or �therwise collect the
<br /> rents, issues and profits af the Proper�y� tncluding thase pas�due and unpaid, and appfy the same, less
<br /> cvsts and expenses of operation and cal[�ction attarneys' f�es, to any inde�tedness secured by this Deed
<br /> af Trust, all in such �rder as Lender may determine. The entering up�n and taking passession v# the
<br /> Property, the �olle�tivn af such ren#s, issues and prafits, and the application �h�revf shall nat cure or
<br /> wa��e any d�fault vr notice af d��ault under this Deed of Trust or in�alidate any act done in r�sponse t�
<br /> such de�ault ar pursuant�a such not�ce a�default; and, notwithstanding the cvn�inuan�e in passessian❑f
<br /> �he Prop�rty or the c�llectian, receipt and appii�ati�n af rents, issues or profits, Trustee �r Lender shall
<br /> be entitled ta exer�ise e�ery right provided fflr in the Note ar the Related Documents or by faw upan the
<br /> accurrenc�a�any e�ent of de�au�t, including the right to exercis�the p�wer of sale;
<br /> �b� Cvmmence an action ta fioreciose th�s Deed o�f Trust as a martgage, appaint a recei�er�r sp�cifically
<br /> en�or�e any af the co�enants hereaf; and
<br /> �c) Deli�er tv Trustee a written deciaration of d�fault and demand for sa�e and a written natice of defaul�
<br /> and e�e�tian to cause Trustor's interest�n the Property ta be sofd, whi�h noti�e Trustee shall cause to be
<br /> duly filed far recard in the apprvp�iate Offices af the Caunty in whi�h the Property is located; and
<br /> {d� With respect to a!�ar any part of fihe P�rsanal Praperty. Lend�r shal! hav� all the rights and remed�es
<br /> of a se�ured party under the N�hraska�niform Commercial Cade.
<br /> Fo�reclosure by Power flf Sale. If Lender elects to farec�ose by exercise o��he Power vf Sa1e herein contained,
<br /> Lender shall notify Trustee and shall depasit with Trustee this ❑�ed o�Trus�and the [Vote and such receip�s
<br /> and evidence af expenditures made and secured by this ❑eed o�F Trust as Trus��e may require.
<br /> �ay Upon r�ceipt ofi such noti�e firom Lend�r,Trustee shall�ause to be recarded, published and deli�ered
<br /> to Trustar such Notice vf Default and Notice of 5ale as then required by law and by this ❑eed a�f Trust.
<br /> Trustee shall, wi#haut demand an Trustor, after such time as may then he required by law and afi�er
<br /> recardation af su�h Notice❑f De�ault and after Notice of Sale ha�ing been gi��n as required by law, sell
<br /> �the Prnperty at �he �ime and place of sale �ix�d by it in such Notice of 5ale, either as a v+rhole, ar in
<br /> separate lats or parc�ls vr it�rns as Trustee shall deem expedient, and in such vrder as it may determine,
<br /> at public auctivn to the highest bidder for cash in lawful maney o�the United 5tates payable a�the time
<br /> ❑f sale. Trust�e sha!! deli�er to such pur�haser or purchasers ther�of its good and su��icient deed vr
<br /> deeds can�eying the prvperty so sold, but withaut any co�enant or warranty, expr�ss or irnplied. The
<br /> re�itals in such deed af any rna��ers or fa�ts shall be �onciusive prvo#�#�the tru�hfulness �hereof. Any
<br /> persan, including wi�hou�limi�ation Trustor, Trustee,or Lender, may purGhase at su�h sale.
<br /> {b� As may be permitted hy law, after deducting a!I costs, fees and expenses af Trustee and a� this
<br /> Trust, in�luding �osts of evidence of title in�Qnnection with sale,Trus�ee shall apply the proceeds of saie
<br /> ta payrnent af �iy all sums expended under�Ch�terms af this Deed of Trust or under�he terms of the Nvte
<br /> na� then repa�d, in�[uding but nat limited #� a�crued interes� and late charges, 4iiy all vther sums then
<br /> se�ured hereby, and �i�iy the remainder, i�any, to�he person or persons legally enti�led thereto.
<br /> �c} Trustee may in the manner pr��ided by law pastpvne sale af all or any portian of�he Praperty.
<br /> Remedies Nat Exclusive. Trustee and Lender, and each vf them, shall be entitlsd t❑ enfiorce payment and
<br /> perfvrmance of any indebtedness❑r ab�iga�ions se�ured by�his D�ed of Trust and t�exercise alk cights and powers
<br /> under this Deed af Trust, under the No��, under any of th� Re�ated aacuments, ar und�r any ather agr�ement❑r
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