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2� 15�7482
<br /> 1DE�D �� T�I�ST
<br /> ���t�tirl4#�d} Page 5
<br /> 1nd�btedness or Barrower's or Grantor's abiii�y to perfarm their re�pect'r�� �bligatians under this Deed o�Trust or
<br /> any of the Re�ated L7�cuments.
<br /> Fa1se�tatements. Any warranty, representa�ion or s�atement made or�urnished t� Lender by Borrower or Trustflr
<br /> or on Borrower's or Trustar's behal�under�his Deed ❑�Trust ar�he Reia�ed ❑�cuments is fafse ar m�s��ading in
<br /> any material respect, eith�r now vr at �h� time made o�- furnished nr becvmes fa�se ar misleading at any time
<br /> therea�ter. ,
<br /> Defec�i�e Cvllatera�i�ation. This De�d ❑f Trust or an� �f th� Rela�ed ❑ocumen�s ceases ta be in full force and
<br /> �ffe�t �including faiIure ofi any collateral da�umen�to �reate a�al�d and perfe��ed security interes�❑r lien} a�any
<br /> tim e and f�r any reasvn.
<br /> Dea#h vr Insvl�ency. The dissolufion a� Trus�or's �r�gardless of v►rhether election �a continue is made}, any
<br /> member withdrav+rs fram the limited fiahili�y campany,ar any a�her terminatian v�Barrvwer's or Trus�or's existence
<br /> as a �oing business or th� d�ath a� any m�mher, the insolvency of Barrawer ❑r Trus#�r, the appointment o� a
<br /> recei�er for any part af BarrQwer's �r Trustor's property, any assignment�ar�he benefi� of c�editors, any�ype af
<br /> creditvr workout, o�-the commenGement of any proc�eding under any bankruptcy or insol�ency lavus by or agains�
<br /> Borrawer or Trustor.
<br /> Creditor or Farfeiture Prv�eedings. Cornmenc�ment af�oreclosure ❑r fnrfeiture prv�eedings, whether by judicial
<br /> prQceeding, self-help, repossession or any vther me�hod, by �any credi�or of Borrawer or Tr-ustar vr by any
<br /> go�emmental agency against any property se�uring the Indebtedness. This includes a garnishment af any af
<br /> Bvrrower's ar Trustvr's accounts, including �eposit accoun�s, with Lender. However, this Event af Default sha�!
<br /> not apply if there is a go�d fiaith dispute by Borrvwer ar Trustar as ta the validity ar reasonableness af�he ��aim
<br /> which is the bas�s of the creditor ar farfeitur� proceeding and if Barrawer or Trustor gi�es Lende�written notice of
<br /> the creditvr ar fvrtei�ure proceeding and deposits wi�h Lender manies ar a sure�y band�or the creditor ar forfeiture
<br /> proceeding,in an amount determined�y Lender,in its so�e discretian,as being an adequate�eserve or band for th�
<br /> dispute.
<br /> Br�ach of Dther Agreement. Any breach�y Borrawer or Trustor under the terms of any v#her agreement between
<br /> Bvrrower ar Trus�or and Lender that is n�t remedied v�i�hin any grace perivd pr��ided therein, including without
<br /> limita�ion any agreement can�erning any indebtedness vr other obligation of Ba�rower ar Trusto� ta Lend�r,
<br /> whe�he�-existing now ar la�er.
<br /> E�ents Affecting Guarantvr. Any af the preGeding events vccurs w�th respect to any guarantvr, endarser, sure�y,
<br /> or �ccommadatian party of any o�the Indebtedness❑r any guarantor, endnrser, surety, ar aGcommodatian party
<br /> dies ❑r becames incompetent, or re�okes ❑r disputes the �alidity �f, or liabifity under, any Gua�anty �f �he
<br /> Indeb#edness.
<br /> Adverse Change. A material ad�erse change v�cu�s in Barrower's or Trustor's financial condition, or Lender
<br /> belie�es th�prospec�vf paymen�or perFvrmance af�he lndebtedness�s impaired.
<br /> lnsecurity. Lender in gaod faith he�ieves itself inse�ure.
<br /> Existing lndehtedness. The payment of any �nstal[ment af principal ar any inter�st on�he Existing Indebtedn�ss is
<br /> no� made within the time required �y the promissv.ry note e�idencing such indebtedness, ❑r a defaul�occurs under
<br /> the instrument securing such indebtedness and is n�t�ured during any applicab(e grace period in such instrument,
<br /> ar any�uit ar ather ac�ion is�vmmenced to foreclose any�xisting ii�n on the P�operty.
<br /> RI�HTS AND REME�]�ES �3h[ ❑EFAULT. [f an E�snt of❑efau�t occurs under�his Deed o�Trust, at any t�me therea�ter,
<br /> Trustee or Lender may exercise any ane or more af the fvllowing rights and remedies:
<br /> Acce��rat�an Upon Uefault; Addi�ional Remedies. !f any E��nt vf D�fault Qccurs as per th�te�ms af�he IVo�e
<br /> se�ured hereby� L�nder may declare al� Indebtedn�ss secured�ay fih�s i]eed of Trusf�v be due and payable and
<br /> the same shall�hereupon becom�due and payab�e withaut any presentment,demand,pro�es�or notice of any
<br /> kind. Ther�af�er, Lender may:
<br /> �a} Eiti�er in pe�san or by ag�n�, wi�h vr withau� bringing any activn or praceeding, a� by a receiver
<br /> appointed �y a�aurt and withaut regard to th�adequacy n�its security, enter upon and take passession
<br /> of the Prope�-�y,Qr any part thereaf, in i�s own name or in�h�narr�o�Trustee,and do any acts which it
<br /> deems neaessary or desirable to pre�enr��he�alue, marke�abili�ky or rentabili�y of the Prvperky,ar part o�
<br /> the Praper�y ar interest in'�he Property; increase the income from the Prvper�y ar prvtect the security af
<br /> �he Prvper�y; and, with or wi�hout taking passession o��he Pr�perty, su� �or or �th�rwise callect �he
<br /> rents, issues and profits of�he Pr�perty, inciuding�h�se past due and unpa�d, and apply the same, less
<br /> casts and expenses of opera��vn and collection att�rneys'fees,�o any indeb�edness secured by this�eed
<br /> of Trus#, all in suGh arci�r as Lender may determine. The entering upon and fiaking passessivn of the
<br /> Prvperky, tha ca�lec�ion Q�F su�h rents, issues and profts, and fhe appfica�ion thereof shall nvt cure v�
<br /> wai�e any defau��4�-notice of defaul�un�er this Deed af Trust ar�nvalidate any ac�done in respons��a
<br /> such de�rault❑r pursuant to su�h notice of defaul�;and7 notwithstanding th�cont�nuan�in possession ofi
<br /> the �'rape�-ky or the collectivn, receipt and applicafion of rents, issues o�-prafts, Trus�ee�r Lender shall
<br /> be entitled to exercise e�ery right pro�ided fvr in�he IVa�e o�the Related �ocumen�s ar by law upon the
<br /> occurrence of any e�enfi af de�ault, including the right ta e�cercise the pQwer af sal�;
<br /> �b} Cammence an ac�i an to forecf ose th is�ee�v�Trust as a mortgage, appoi nt a receiver o�specifi caf ly
<br /> enforce any af the co�enants hereof;and
<br /> �c} Deliver to Tr�.�stee a written declara�ion of defauft and demand for sale and a written no�ice of d�faul�
<br /> and election ta cause Trustor's�nt��est in the Property to be sold,which nvtice Trustee shall cause ta be
<br /> duly filed for re�ord in�he appropriate affices af the Coun�Ly in which the Property is lv�ated;and
<br /> �d} With respect to all ar any part of th�Persona� Praperty, Lender shall ha�e all the rights and remed�es
<br /> o�a secured party under the IVebra�ka Uni�arm C�mmercial Code.
<br /> Fareclnsure by Power of Sale. If Lend�r elecfs�o foreclose by�xer�se o�the Paw�r of Sale herein cantained,
<br /> Lender shall not�fy Trustee and shall deposi�with Trustee this Deed of Tr-us��nd the Na�e and such receipts
<br /> and e�idence of expenditures mad�and se�ured by th�s Deed o�Trust as Trustee may requir�.
<br /> �a} Upon receip�of such n�tice�rom L�nder,Trustee shall �ause to be recnrded, pub�ished and deiivered
<br /> to Trustor suGh iVo�iGe of De�aul�and No��ce vf Sale as then required by!aw and by this Deed af Trust.
<br /> Trust�e shal�, withou� demand an Trustvr, after such time as may then be requireal by law and after
<br /> recordatinn of such No�ic�of De�ault and after Nvtice af Sale ha�ing been gi�en as r�qu�red by law, sell
<br /> the Property a�the time and p�ace a� sale fixed by it in such Nvtice �f 5ale, either as a whvle, or in
<br /> separate Ivts or parcels vr it�ms as Trus�ee shall deem expedient, and�n such arder as it may determine,
<br /> at publiG auc�ivn to the highest bidder��r cash in lawful money af the United States paya�le a#�he time
<br /> of sale. Trustee shall deli�er tv such purchaser or purchas�rs thereof its good and sufficien� dsed vr
<br /> CI�S C�C1V�]I�ng th� pCQ��I'$]/50 SaI�, but with�ut any covenan�or warran�y, express or im�lied. The
<br /> re�itals in such deed of any matters or�aGts shall be�onclus��e proo�of�he�ruthfulness'�hereof. Any
<br /> person,including without limitatian Trustar,Trustee,or Lender, may purchase at such sale.
<br /> �b} As may be permitted by law, after deduct�ng a�l costs, fees and expenses o�Trustee and of th�s
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