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200002127
<br />1 E'Events of Default.I The following shall constitute an Event of Default under this Deed of Trust:
<br />(a) Failure to pay any installment of principal or interest of any other sum secured hereby when due;
<br />(b) A breach of or default under any provision contained in the Note, this Deed of Trust, any of the Loan Instruments, or
<br />any other lien or encumbrance upon the Property;
<br />(c) A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a lien on
<br />the Property or any portion thereof or interest therein;
<br />(d) There shall be filed by or against Trustor or Borrower an action under any present or future federal, state or other
<br />statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shall be appointed any trustee,
<br />-receiver or liquidator of Trustor or Borrower or of all or any part of the Property, or the rents, issues or profits thereof, or
<br />Trustor or Borrower shall make any general assignment for the benefit of creditors;
<br />(e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or any part of or any interest in the
<br />Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall be
<br />permitted to execute a lease of the Property that does not contain an option to purchase and the term of which does not exceed
<br />one year; . • I ' _ .
<br />(f) Abandonment of the Property; or
<br />(g) If Trustor is not an individual, the issuance, sale, transfer, assignment, conveyance or encumbrance of more than (if a
<br />corporation) a total of N/A percent of its issued and outstanding stock, or (if a partnership) a total of N/A percent
<br />of partnership interests, or (if a limited liability company) a total of N/A percent of the limited liability company interests
<br />or voting rights during the period this Deed of Trust remains a lien on the Property.
<br />(h) If the obligation secured hereby is guaranteed in whole or in part by the Farmers Home Administration, borrower further
<br />agrees that the loans secured b4 thisgstruM pt.gill h 41 d f ult shoulgjgg loan r ee du[tat,wi!1
<br />cf eess ve erosion o ro n -conversion 8 w o ce o° o make possible the
<br />production of an agricultural commodity, as further explained in 7 CFR Part 1940, Subpart Cy Exhibit M.
<br />12. Remedies; Acceleration Upon Default. In the event of any Event of Default Lender may, without notice except as required
<br />by law, declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable
<br />without any presentment, demand, protest or notice of any kind. Thereafter Leader may:
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein, and Trustee shall thereafter cause Trustor's interest
<br />in the Property to be sold and the proceeds to be distributed, all in the manner provided in the Nebraska Trust Deeds Act;
<br />(b) Exercise any and all rights provided for in any of the Loan Instruments or by law upon occurrence of any Event of
<br />Default; and
<br />(c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the
<br />covenants hereof.
<br />No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other remedy herein, in the
<br />Loan Instruments or by law provided or permitted, but each shall be cumulative, shall be in addition to every other remedy given
<br />hereunder, in the Loan Instruments or now or hereafter existing at law or in equity or by statute, and may be exercised concurrently
<br />independently or successively.
<br />13. Trustee. The Trustee may resign at any time without cause, and Lender may at any time and without cause appoint a
<br />successor or substitute Trustee. Trustee shall not be liable to any party, including without limitation Lender, Borrower, Trustor or
<br />any purchaser of the Property, for any loss or damage unless due to reckless or willful misconduct, and shall not be required to take
<br />any action in connection with the enforcement of this Deed of Trust unless indemnified, in writing, for all costs, compensation or
<br />expenses which may be associated therewith. In addition, Trustee may become a purchaser at any sale of the Property (judicial or
<br />under the power of sale granted herein); postpone the sale of all or any portion of the Property, as provided by law; or sell the
<br />Property as a whole, or in separate parcels or lots at Trustee's discretion.
<br />14. Fees and Expenses. In the event Trustee sells the Property by exercise of power of sale, Trustee shall be entitled to apply
<br />any right provided by law to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs and expenses
<br />actually incurred as a result of Trustor's default, including without limitation all Trustee's and attorney's fees, to the extent
<br />permitted by applicable law.
<br />15. Future Advances. Upon request of Borrower, Lender may, at its option; make additional and future advances and
<br />readvances to Borrower. Such advances and readvances, with interest thereon, shall be secured by this Deed of Trust. At no time
<br />shall the principal amount of the indebtedness secured by this Deed of Trust, not including sums advanced to protect tlhe security of
<br />this Deed of Trust, exceed the aggregate of the original principal amounts stated herein, or $ 70,000.00 ,
<br />whichever is greater.
<br />16. Miscellaneous Provisions.
<br />(a) Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this
<br />Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the
<br />liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings
<br />against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed
<br />of Trust by reason of any demands made by the original Borrower and Borrower's successors in interest.
<br />(b) Lender's Powers. Without affecting the liability of any other person liable for the payment of any obligation herein
<br />mentioned, and without affecting the lien or charge of this Deed of Trust upon any portion of the Property not then or
<br />theretofore released as security for the full amount of all unpaid obligations. Lender may, from time to time and without notice
<br />(i) release any person so liable, (ii) extend the maturity or alter any of the terms of any such obligations, (iii) grant other
<br />indulgences, (iv) release or reconvey, or cause to be released or reconveyed at ay time at Lender's option any parcel, portion or
<br />all of the Property, (v) take or release any other or additional security for any obligation herein mentioned, or (vi) make
<br />compositions or other arrangements with debtors in relation thereto.
<br />(c) Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The
<br />procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to
<br />accelerate the maturity of the indebtedness secured by this Deed of Trust.
<br />(d) Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained
<br />shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Trustor. All covenants
<br />and agreements of Trustor shall be joint and several. The captions and headings of the paragraphs of this Deed of Trust are for
<br />convenience only and are not to be used to interpret or define the provisions hereof.
<br />- (e) Request for Notices. The parties hereby request that a copy of any notice of default hereunder and a copy of any notice
<br />of sale hereunder be mailed to each party to this Deed of Trust at tike address set forth above in the manner prescribed by
<br />applicable law. Except for any other notice required under applicable law to be given in another manner, any notice provided
<br />for in this Deed of Trust shall be given by mailing such notice by certified mail addressed to the other parties, at tlhe address set
<br />forth above. Any notice provided for in this Deed of Trust shall be effective upon mailing in the manner designated herein. If
<br />Trustor is more than one person, notice sent to the address set forth above shall be notice to all such persons.
<br />(f) Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Trustor notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />(g) Reconveyance. Upon payment of all sums secured by this Deed of Trust, Lender shall request Trustee to reconvey tite
<br />Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this Deed of Trust to Trustee.
<br />Trustee shall reconvey die Property without warranty and without charge to the person or persons legally entitled thereto.
<br />Trustor shall pay all costs of recordation, if any.
<br />NBC3437H (Apkv P" Dad) Rev. 01-
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