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2� 15�774�
<br /> vEEv oF T�usT
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<br /> effect tinclud�ng fai�ure of any callateral document �o create a �afid and perfected security interest or lien� at any
<br /> time and for any reason.
<br /> Death ar inso��ency. The dissolutian of Trus�vr's �regardless of whether ele�tion to cantinue is made}, any
<br /> member withdraws fram the limited liability company, or any ather termina�ian of Trus�or's exisfience as a gaing
<br /> business or �the death �f any member, the insol�ency vf Trustor, the appointment of a reGeiWer far any par� ��
<br /> Trustor's proper�y, any assignmen�k for �he bene�i�k of creditors, any type o� creditor warkaut, ar �he
<br /> commencement af any proceed�ng under any bankruptcy or insol�ency�aws by ar against Trustor.
<br /> Greditor or Forfei�ure Proceedings, Commen�ement of forec[vsure ar for�eiture praceedings, whether by �udicial
<br /> proceeding, sel�-help, repassession or any ather method, by any creditar of Trustor or by any ga�ernmen�al agency
<br /> against any property securing �he Indebtedness. This �ncludes a garnishment flf any of Trustvr°s accounts,
<br /> including d�pasi�t accvunts, with Lender. Hvwe�er, this E�en� vf Default shall not apply ifi there is a good fai�h
<br /> dispute by Trustor as �o the �alidity or reasona�leness of the claim which is the basis ofi�he creditor or far�eiture
<br /> proceeding and if Trustor gi�es Lender vv�itten notice vf fihe creditor ar fiorfeiture proceeding and deposits with
<br /> Lender manies or a surety bon� f�r the credi�or or fiorfeiture proceeding, in an amaunt determined by Lender, in its
<br /> sof�discretion, as being an adequate reser�e or bond fvr the dEspute.
<br /> Breach v�F�ther Agreement. Any breach by Trustor under the terms of any�th�r agr�ement between Trus�or and
<br /> Lender �hat is not remedied within any grace period pro�ided therein, incfuding withou� iimitation any agreement
<br /> cvncerning any indebfiedness or o�her obligativn of Trustor ta Lender, whe�her exis�ing nvw or la�er.
<br /> E�ents A�ffecting �uarantor. Any of the preceding e�ents a�curs wi�h respect to any Guarantor of any of the
<br /> �ndebtedness or any Guarantor dies or becomes incompeten�, ar re�flkes or disputes �h� �alid�ty a�, or �iahili�y
<br /> under, any�uaranty a�the Indebtedness.
<br /> Adverse Change. A materi�� ad�erse change o�curs in Trustor's financiaf �ondition, ar Lender belie�es the
<br /> praspect o�payment or performanGe af the Indebtedness is impaired,
<br /> Insecurity. Lender in goad faith belie�es i�self insecure.
<br /> Right tv Cu�re. ff any default, vther than a defau�t in payment, is curable and if Trustar has not been gi�en a notice
<br /> af a breach of�he same pro�ision a��his ❑eed o�Trusfi within the preceding twelve �1�� months, it may be cured if
<br /> Trustor, af�er Lender sends wri�ten n�tice to Trustor demanding cure o�such de'�au�t: ��y cures the default within
<br /> twenty t�fl� days; or 42� if the cure requires more than �wenty ��0� days, immed'ratefy initiates s�eps ►nrhich
<br /> Lender deems in Lender's sale discretian to be sufficient ta cure the default and thereafter �ontinues and
<br /> campletes all reasanable and necessary steps sufficien�tv produce complian�e as soon as reasonahly prac�ica�.
<br /> R�GHTS AND REMEDIES ON DEFAULT. [f an E�ent of Default occurs under this Deed of Trust, at any time thereafter,
<br /> Trustee ar Lender may exercise any one vr mvre o�the fo��owing rights and �emedies:
<br /> A�celeration Upon De�ault: Add"r'tivnal Remedies. I�any E�ent a� De�au�t oc�urs as per the terms of the Note
<br /> secured hereby, Lender may decfare af[ Indebtedness secured by this Desd of Trust to be due and payahle and
<br /> �he same sha�l thereupan become due and payable without any presentment, demand, protest or notice o�any
<br /> kind. Thereafter, Lender may:
<br /> �a� Either in person or by agent, wi�h ar withvut bringing any a�tion or pro�eedin�, or by a recei�er
<br /> appvinted by a c�urt and without rega�-d tv the adequacy of its security, en�er upan and take passession
<br /> of the Praperty, ar any part�hereo�F, in its own name ar in the name of Trustee, and do any acts which it
<br /> dsems necessary or desi�a�le to preser�e the �alue, marketability or rentabi�ity af the Property, or par�of
<br /> the Property or int�rest in �he Property; increase the incame from �he Property or protec�the securifiy af
<br /> the Property; and, with or without tak�ng possess�on af the Property, sue for or otherwise ca�lect �he
<br /> rents, issues and profits of the Property, incfuding thase past due and unpaid, and apply the same, less
<br /> cos�s and expenses of aperation and caflec�ion at�orneys' fees,tv any indebtedness secured by th�s Deed
<br /> ofi Trust, alf in such order as Lender may determine. The entering upvn and fiaking possess�on of �he
<br /> Property, the �ollection afi such �ents, �ssues and profits, and the applica�ian �herea� sha�� n�� cure or
<br /> wai�e any defaul�or notice of default under this Deed of Trust vr in�alidate any act done in response to
<br /> such default or pursuant to such noti�e af default; and, notwithstanding�he cont�nuance in possessivn of
<br /> the Property or�he collection, receipt and application v� rents, issu�s or profits, Trustee or Lender shall
<br /> be entitled to exercise e�ery right pro�ided far in the Nate or the Refated Documents vr by !aw upon the
<br /> accurrence of any e�ent o�d�fau[t, inc�uding�he right ta exercise the power o�sale;
<br /> tb} Commence an action to forec[ase�his aeed af Trust as a morfigage, appoint a recei�er ar spec��icaf�y
<br /> enforce any o�the�o�enants hereof; and
<br /> �cf Del��er to Trus'tee a written decfara�ion of default and demand fior sale and a written nv�ice of default
<br /> and ele�tion t� cause Trus�or's in�er�st in the Proper�y to be sold, which no�ice Trustee shall �ause to be
<br /> dufy filed�ar record in�he appropriate of�ices af�he County in which the Proper�y is la�ated; and
<br /> �d} Vllith respect to �I1 or any part of the Personal Property, Lender shall have afl th� rights and remedies
<br /> af a s�cured par�y under the Nebraska Unifarm Cammercial Code.
<br /> Foreciosure by Pawer af Sale. lf Lender elects�a forec�ose by exe�cise o�the Power vf Sale herein contained,
<br /> Lender shall no�ify Trustee and shall deposit with Trustee this Deed o�Trust and the No�e and such r�ceip�s
<br /> and e�idence of exp�n�litures made and secured by this Deed o�Trusfi as Trustee may require.
<br /> {a� l�pan rec�ipt o�such notice from Lender, Trustee shall cause to be recorded, published and deli�ered
<br /> to Trustor su�h No�E�e of ❑efau[t and N�tice of Safe as then requir�d by faw and by this aeed o�T�ust.
<br /> Trustee shal�, without demand on Trustor, a�ter such time as may then be required by faw and a�ter
<br /> re�ordation v�such Notice of ❑efauft and after Nvti�e ofi Sa[� having been �i�en as required by law, sel[
<br /> the P�operty at �he time and place of sale fixed by it in such Natice vf Sale, ei�her as a whole, ar in
<br /> separate lots or par�ef� ar items as Trus�tee shaff d�em expedient, and in such order as it may de�ermine,
<br /> at pub�ic auction to the highest bidder#ar cash in lawfuf money af the lJnited Sta�es payable at the time
<br /> of sale. Trustee shalf deli�er to such purchas�r ar purchasers thereof ��s good and suf#icient deed or
<br /> deeds con�eying the proper�y so sold, but uvithout any co�enan� ar warranty, express or imp(ied. The
<br /> rec�ta[s in such deed of any matters or �ac�s shall be con�lusi�e proof af the truthfu�ness thereaf. Any
<br /> person, including withou�limi�a�ion Trustor, Trus�ee, or Lender, may purchase at such sale.
<br /> �b� As may be permitted by faw, after deduc�ing all costs, fees and expenses o� Trustee and of this
<br /> Trust, including cos�s of e�idenGe of title in conne��ian with sa1e, Trustee shall apply the proceeds af sale
<br /> �a paymen�vfi �i� all sum�expended under the�erms vf this Deed of Trust or under the terms vf the No'�e
<br /> no� th�n repaid, including bu� nat �imified to a�crued interest and la�e �harges, �ii� all other sums then
<br /> secured hereby, and �iii� the remainder, if anyr to�he person or persons legally ent�tled thereto.
<br /> �c} Trustee may in the manner pra�ided by law postpone sale o�all or any par�kion o��he Property.
<br /> Remedies Not Exc�usirre. Trustee and Lender, and each of fihem, shall be ent�t�ed to enfarce payment and
<br /> pe��vrmance of any indeb�edne�s or abligations secured by this Deed vf Trust and to exercise aff r�ghts and powers
<br /> under �his ❑eed vf Trus�, under the N��e, under any o��he Related Dacuments, o� under any other a�reemen� or
<br /> any laws nav►r ar hereaf�er in farce; notwithstanding, some ar ali o�such indebtedness and abfigations secured �y
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