|
��l 5�641 1
<br /> i]EE� �F T�L�ST
<br /> ��or�t�nu�d} ��g� �
<br /> th e rea�e r.
<br /> De�ec�ive Col[ateralization. This De�d af Trust ar any of�he Rela�ed Dacurnents �eases to be in full �vr�e and
<br /> e�€ect �including �ailure of any co�lateral documen#to c�eate a�alid and perfected security in�erest or lien}at any
<br /> �ime and far any reason.
<br /> ❑ea�h or lnsv�vency. The death of Borrowe�ar Trustar, the insalvency a�Bo�rower❑�Trus�ar,the appoin�ment af
<br /> a rec�iver�or any part af Borrowe�-'s or Trustor'� praperty, any assignmen�for the b�nefi�af c�-edito�-s, any i�ype of
<br /> credit�r wvrkout, or the cammencemen�of any prviceeding under any bank�uptcy ar ins�l�ency laws by ar against
<br /> gorrower�r Trusfor.
<br /> Greditor ar Forteiture Proceedings. �vrnmencement v� for�c�osure or fvrfeiture pro�eedings, whether by judic�ai
<br /> praceeding, self--help, repossessivn or any other rne�hod, by any c�'edit�r ❑f Barrower ar Trustor or �y any
<br /> ga�ernmenta� agency against any prvper�y s��ur�ng the �ndebtedness. ThEs includes a garr�ishm�n# ❑f any af
<br /> Bo�-rawer's or Trus�or's accaun#s, including �eposifi accaunts, with L�nder. Howe�er, this E�ent of Qefault shall
<br /> not apply i�ther� is a good faith dispute by gorro►�ver❑r Trustor as�o#he�alidity o�r�asonab�eness af the�ia�rn
<br /> which is the basis o��he cre�itar�r�orfeiture proceeding and if Borrawer vr Trustor gives Lender written notice af
<br /> the creditvr or�orFei�ure praceeding and depasits wii�h Lend�r rnonies ar a surety bond far�h�creditor or€orfeiture
<br /> proceeding,in an amvunt de�ermined�y Lender,in Ets sale discre�ivn,as being an adequate reserve ar band far�he
<br /> dispute.
<br /> Breach of�ther Agreernent. Any breach by Borrawer or Trustor under the terms❑f any ather agreement between
<br /> Bvrrower or Trus�or and Lender tha� is nvt remedi�d within any gra�� perivd p�v�ided �here�n, including withou�
<br /> lirnita�ian any agreement �oncerning any indebtedness or othe� ablig�fian o� Barrawer or Trus�or to Lender,
<br /> whethe�existing now vr fafier.
<br /> E�ents Affec#ing �uarantar. Any of the preceding e�en�s occurs wi�h respect to any guarantor, endorser, surety,
<br /> �r accornmvda�ivn party❑f any❑��he lndebte�n�ss ar any guarant�r, endorser, surety, or acc�mrn�dation party
<br /> dies �r becomes incvmpeten�, ❑r re�okes ar disputes th� �alidsty o�r, or fiabili�y under, any Guaran�y a� the
<br /> lndebtedness. .
<br /> Ad�erse Change. A material ad�erse change occurs in Barrower'S 03" Tl"1.15�03�5 financial condition, or Lender
<br /> beli��es�he prospe�t v�paymen�or perfomnance of the�ndebt�dne�s is impair-ed.
<br /> Inse�uri�y. Lender in goad fa'rth beli�ves Etsel�'rnsecure.
<br /> Existing lndeb��dness. The payment of any insta[Iment af principal or any interes#an the Existing lndebt�dness is
<br /> nat made wi�hin the time required by the promissary note eWidencEng such indeb�edness,or a default�ccurs under
<br /> the�nstrument s�cur�ng such ind�bt�dness and �s not cured during any app�ica�[e gra�e period in such instrument,
<br /> ❑r any suit or othe�activn�s cvmmen�ed ta fare�lvse any existing li�n on�he Proper�y.
<br /> RIGHTS AN D REMEDIES �N DEFAULT. If an E�en�of Default occurs under this C7eed a�Trust, at any time�hereaf�er,
<br /> Trustee ar�Lender may exercise any vne or more of th�follvwing rights and rernedies:
<br /> Acce[�ra��vn Llpan Default; Additiona[ Remedi�s. 1�any Event❑f Default occurs as per the terrns of the Note
<br /> se�ured hereby,Lender may decfare all Indeb�edness secured by this Deed of Trus��v be due and payable and
<br /> �he same shall thereupnn tae�vme due and payable rrvi�hou�any presentment,demand,prvtest ar notice of any
<br /> k€nd. Thereafte�-,Lender may:
<br /> (a} Eit�er in person or by agent, w�th or withaut hnnging any act�an or proceeding, ar b� a recei�er
<br /> appvin�ed by a�ourt and wfthout r�gard to the adequacy of its security, enter upvn and take po�sess�on
<br /> o�the Prvperty,vr any part fihereof,in its vwn name vr in the name of Trustee,and dv any a�ts wh�ch i�t
<br /> . deems neces�ary or desirable to preserve the value,marketabi[ity or rentabili�y af�he Proper-ky,or park of
<br /> �he Property or interest in the Property; �ncrease the inovme from�he Properiy or protect the securi�ty of
<br /> the Prvperty; and, w�th vr without taking possession of the Property, sue for or ofherwise cof[ect the
<br /> rents, �ssues and profits of the P�operty, including�hase past due and unpaid,an�€apply the same, less
<br /> costs and e�penses�f operation and col�ection attarneys'�ees,to any indeb�edness secur�d by this�eed
<br /> o�Trus�, al f i n such order as Lender may de�errni n�. The er�teri ng upan and �aki ng �ossessi�n ��the
<br /> Property, the callec�ion of such rents, i�sues and pr�fits, and �h� applicatian thereof shafl not cur� or
<br /> waive any d�fau�t or notice of de�Faul�under this Deed of Trus�o�inval�date any act dvne in respon�e ta
<br /> such default vr pursuant tv such notice o�de�ault;and,notwithstanding the canfinuance in possession o�
<br /> #he Property ar the collectivn, receipt and app�ica�ion of rents, issues vr praffs, Trustee or Lender shall
<br /> be enti�led to�xercise e�ery righ�pro�ided for in the Nnte or the Reiated�ocuments vr by law u�on the
<br /> �ccurrence ofi any e�en�af default,including tF��right�fio exercise the power af sale;
<br /> �f�} �ommen�an ac�ion�a�oreclase this Deed�f Trust as a martgage,app��n�a receiver ar specificalfy
<br /> enforce any c��the covenants hereof;and
<br /> �c} Deli�er to Trustee a writken d�c�ara�ivn of defaul�and demand for sale and a written na�ice af default
<br /> and electian�a cause Trustar's interest in the Proper�y�o be sald,whi�h nvtice Trus�ee shall ca�se ta be
<br /> duly�led for record in the appropriate vffices vf�he�ounty in whi�h the Prvperty is�ocated;and
<br /> �d} With respect t�alf�r any part of the Persvnal Prvperty, Lender shall have all�he righ�s and remedies
<br /> �f a s�cured party und�r�he Nebraska Uniform C�mmercia[Cade.
<br /> Forec�vsure by Power af 5ale. ff Lender elec�s to foreclvse by exercise af the Pow�r of Saie herein contained,
<br /> Lendsr shall nvtify Trustee and shalf deposif with Trust�e�his Qeed af Tn.ist and�he Note and such r�ceipts
<br /> and evidenoe of exp�nc�itures made and secured by this�eed o�Trust as Trus�ee may requir�.
<br /> {a} Upon receip�of such no�ice from Lender,Trustee shall cause tv be recorded, pub�ished and deli�ered
<br /> t�Tr�us�or such Nn�ice o�r[�efault and IVotice of 5ale as then�equired hy law an�i h�this Qeed o�T�-ust_
<br /> Trusfiee shal�, without dernand an Trustar, after such t�me as may then be required by law and after
<br /> �-ecardatian of such �fo�iee af De�ault and a�ter Nn�ic�af Sal�having been given as requ�red by law, s�ll
<br /> the Pr�perty afi th�time and place af sal�fx�d by it in such Nafice of �ale, �ither as a whole, or in
<br /> separafie�ots v�parcels or E�ems as Trustee shalk deem expedien�,and in such order as it may determine,
<br /> at public auctian�a the highest bidder�a�c;ash in lawfu! mvney of th�Unitad Sfates payabla at the�ime
<br /> of sale. T�ustee sha11 defiver fio such purchaser or purchase�s thereaf its good and sufflcient deed or
<br /> deeds con�eying the prope�ty so�old, but without any co�enant or warrantjr, e�cpress or impfied. The
<br /> recitais in such d�ed of any matte�-s vr facts shall be�nclusi�e prvof❑f the truthfulness thereof. Any
<br /> person, including w3thout limi�a�ion Trus�or,Trustee,ar Lender,may purchase at such sale.
<br /> �a} As rnay be p�rmitted by law, after deducting all �osts, fees and �xpenses a�Tn.�stee and of this
<br /> Trus�, �ncluding costs v�e�idenoe a��itie in connecfiion with sa�e,Trustee�ha��appiy'�he praceeds v�sale
<br /> to payment of {3}a[1 sums expended�ndsr the�erms vf this De�d v�Trus�vr under the terms af the No�e
<br /> nat then repaid, including but n�t limited to ar�crued �n�erest and la�e charges, �ii} all othe�sums th�n
<br /> secured hereby,and (iii}fhe remainder,i�r any,�o the persan or persons�egally errti��ed ther�tv.
<br /> tc} Trus�ee rnay in the manner pra�ided by Eaw�ostpone s�1e o�a!f ar any portion of th�Property.
<br /> 1�emsd'res Nvt ExcIusivee Trustee and Lender, and ea�h of �hem, shaft be �n�i#�ed fio enforce payment and
<br />
|