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2� 1 ���594
<br /> DEED �F T�UST
<br /> ��ant�nued} Page �
<br /> pu��hase or sales agreem�nt, or any other agreemen�, in favor�f any�ther creditar or person that may materially
<br /> affect any nf �ran�ar's proper�y or �rantvr`s abiii�y �o repay �he Indeb#edness vr Grantor's ability #v pertv�m
<br /> Grantor`s obligations under�his Deed❑f Trust or any of the Related Dvcuments.
<br /> Fa�s� Sta�ements. Any warranty, r�presentation ❑r s�atement made ❑r furnished to Lender k�y Trus�or vr on
<br /> Trustar's behalf under this ❑eed nf Trust❑r the Relat�d Dacument� is fa�se or misleading in any material r�spe�t,
<br /> either naw or a�the time made❑r furnished�r beoames false ar misleading at any time thereafter.
<br /> De�ecti�e Col[a�eralizatian. This Deed of Trust ar any of the Related Documents ceases ta �e in full farce and
<br /> ef�ect �including �ailure af any colfateral doGument to create a�a�id and perfected securi�y interest or iien} at any
<br /> time and for any reasvn.
<br /> [nsvl�en�y. �he dissolu�ion or terminat�on vf Trus�or's exis#ence as a gang bussness, the insaivency of Trus�vr,
<br /> the appointment af a re�eiver for any �art of Trustvr's prvperty, any ass�gnment for the benefi�af credita�s, any
<br /> �ype of cr�d��or workaut, or�he commencemen�o�any pr�ceed�ng under any bankrup�cy or insolvency laws by or
<br /> against�rustor.
<br /> Cred�tor ar Farfeiture Proceedings. �ommencement vf fvrec�asure or forfeiture proceedings, whe�her by judicial
<br /> pra�eeding, self-h�lp, repassession ❑r any other methad, by any creditor af Trustar or by any gvvernmental agency
<br /> against any prvperty securing the Indebtedness. This includes � garnishment vf any of Trustar's accounts,
<br /> includ�ng deposit acGaunts, with Lender. Howe�er, this Event a� Default shall no� apply if there is a g�od faith
<br /> dispute by T�-ustor as to the �alidity or reasanableness of the c�aim whi�h is the basis of the cred�tor or�orfeifiure
<br /> proceeding and if Trus�or gi�es Lender wri���n no��ce vf the Creditar or farFeiture p�viceeding and depasits w�th
<br /> Lender manies or a su�ety bond for the credi�ar ar for�ei�ure pro�eeding, in an amaun�determined by Lender, in its
<br /> sole discr���on,as being an a�equate reserve or i�vnd�ar the dispute.
<br /> Breach of Dther Agreement. Any �reach by Trustor under the terms af any oth�r agreement�e�inreen Trus�or and
<br /> Lendet-�hat ts not remedied within any g�-a�e periad prov�ded the�ein, inc�uding without limitatian any agreement
<br /> �ance�-ning any indebtedness or ather vbligati�n of Trustar�o Lende�,whether existing now or lafer.
<br /> EWents Affecting Guarantar. Any of the preceding e�ents occurs with �espect �o any Guarantor of any af the
<br /> �n�ebtedness ar any Guarantor dies or becvmes in�vmpetent, or re�nkes or dispu�es the �alidity of, �r liability
<br /> under, any Guaran�y o��he lndeb�edness.
<br /> Adverse Ghange. A material ad�erse change accurs in T�-ustor's financiaf conditian, or Lender helie�es the
<br /> prospect af p�yment�r pe�famnance vf the lndebtedness is impaired.
<br /> Insecurity. Lender in good�a�th belse�es itself snsecure.
<br /> Existing Indeb�edn�ss. The payment of any instaliment of pr�n�ipa� or any �n�eres�on�he Existing Indebtedness is
<br /> nat made v+rith�n �he�ime r�quir�d by the promissory no�e ev�d�ncing such inde���dness, or a default occurs under
<br /> the instrument se�u�-�ng su�h indebtedness and is nv��ured during any applicable grace period in such instrument,
<br /> ar any su3�or other action is commenced�a fvrec�ase any existing lien on the Prop�rty.
<br /> R��HTS ANO �EMEI][ES aN �EFA�LT, lf an E�ent of❑efault occurs under this Deed v�Trust, at any t�me thereafter,
<br /> Trustee or Lender may e�cercise any ane or more o�the fol lowi ng righ�s and rem�dies:
<br /> Accelerafian Upvn Defaul�; Additianal Remedies. If any E�ent o� Defiauft occurs a�per th�terms o�F the Nate
<br /> se�ured hereby, Lender may declare all lndebtedness secured by this �eed of Trust to be due and payable and
<br /> the same shall th�reupon be�ome�ue an�payable without any presenfiment, d�mand, protes�o�natice of any
<br /> k�n d. Th er�a�ke r, L�nde�may:
<br /> �a} Eith�r in person or by agent, with ar without bringing any ac�ion or proceeding, or by a recei�e�
<br /> appointed by a court and without regard ta the ade�uacy of its security, ent�r upon and take possessian
<br /> of fhe Prnperty,❑r any part�hereof, in its own name or in the name vf Trustee, and do any a�ts whi�h it
<br /> deems necessary❑r desirable to preserve the�alue, marketabi�it�or rentabzli�y of�he Property,or part of
<br /> the Property o�int�res�in the Properiy; increase tne�n�ome from the Prvper�.y or protect the securi�y of
<br /> the Praperty; and, wi�h or wi�h�ut �aking passessi�n of the Property, sue f�r or otherwise collect the
<br /> �ents, issues and profi�s of�he Proper�y, including those past due and unpaid, and apply�he same, fess
<br /> costs and expenses of opera�ion and Gflllectivn attorneys'�ses,to any,indebtedness secur-ed by#his Deed
<br /> af Trus�, all in such ord�r as Lender may determine. The entering upon and taking possession of the
<br /> Praperty, the collec�ivn of such renfs, issues and prvf:ts, and the application thereof shall no� �ure or
<br /> wai�e any defaul�or natice of defaul�under�his �eed of Trust or inval�date any�et done in response to
<br /> such default nr pursuant to such no�ice of dsfaul�;and, notwithstanding the oontinuance in possession of
<br /> �he Property o�-the co[leGt�an, receip� and application af rents, cssues ar profts, Trustee ar Lender sha�l
<br /> be entitled to exercise��ery right prv�ided for in the�lvte or the Related Dvcuments vr by law upan the
<br /> orcurrenoe��any e�ent of de�ault,incfuding$he righ�to exercise�he power v�sale;
<br /> �b} Comm�n�e an acfiiort to foreclose this Dee�o�Trus�as a mor�gage, appoint a reoefver ar specifical�y
<br /> enfarce any af the Go�enan�s hereof;and
<br /> �c} aeliver tv Trust�e a written deciara�ion of defau��and demand fvr sale and a wriften notice of default
<br /> and eEectian t�cause Trustor's in�e�est in the Property�o be s�id,which na�ice Trustee shal[cause to be
<br /> dui�f�led for record in the apprapriate offices o�th�Coun�y in whi�h the Property�s l��a�ed;and
<br /> �d} Wi�h respec�to all or any part of the Persona� Property, Lender shall ha�e all the righ�s and remedies
<br /> of a secur�d par�y under the Nebraska Uniform Gommercial Cade.
<br /> Fvreclnsure by Powe�-of Sale, If Lender efects ta forec[ose by exer�ise nf the Pawer vf Sale herein contained,
<br /> Lender shall notify Trustee and shall depasit with Trustee this Deed v�Trus�and the Note and such re�eipts
<br /> and e�idence of expenditures made and s�ured by this Qeed af Trust as Trustee may require.
<br /> {a} LJpon receipt of sueh n�tice fram Lend�r,Trustee sha��cause�o be reovrded, published and d�li�ered
<br /> to Trus�o�such Notice of Default and Noti�e of 5ale as then requi�sd by law and b�this Qeed nf Trust.
<br /> Trustee shall, without demand on Trustvr, after such time as may �hen be required by law and afte�
<br /> �ecordati�n of such Not�ce a�Default and afker NvtiGe of Sale ha�ing been gi�en as required by law, se��
<br /> the F'raperty at the time and p�ace of sale fxed by it in such fVotiGe of Sale, either as a v+rho�e, or in
<br /> separate la�s or parc:els or items as Trus�ee shall deem expedient, and in such order as it may determine,
<br /> at public auctian ta the highes�bidder for cash in Iaw�ul money vf the Un��ed 5tates payable at the�ime
<br /> of sale. Trustee shall de�i�er�o such purchaser or purchasers thereof i�s goad and su�ficient d�ed or
<br /> d�ds �an�eying the praper�y so sald, but withvu� any Ga�enant vr warranty, express o� implied. The
<br /> reGitals in such deed a'f any matters or faGts shall be oonc�usiWe proaf af fhe truth�Fu�ness thereof. Any
<br /> p�rson,inc�uding withou�limitatsvn T�-us�vr,Trustee,or Lender,may purchase at such sale.
<br /> �b} As may be permi�ted by �aw, afte� deducting all cos�s, fees and expenses of Trustse and of this
<br /> Trus�,in�luding costs vf e�idence vf tstle in connection with sa�e,Trustee shall apply the pro�eds��sale
<br /> to payrr�nt of ti}aCl sums expended under�he terrv-�s of this Deed o��rus�or under the terms�f the Nv�e
<br /> not then repaid, inc[uding but no� limited to accrued inter�st and late cha�ges, �ii} all o�her sums #hen
<br /> �ecured her�by,and �iii}�he remainder,if any,�o the peF-san�r persons lega�ly entitled thereto.
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