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2� 1 �� 14� 1
<br /> DEED C3F TRUST
<br /> �C�ntinued� Page 5
<br /> De�ecti�e Collateralization. This Deed v� Trust or any vf the Related Do�uments ceases �o be in full �orce and
<br /> effecfi t€ncluding failure of any cvlla�eral document �o �reate a �alid and perfe�t�d securi�y interest or lien} a� any
<br /> time and�ar any reason.
<br /> D�a�h or lnsolrren�y. The d�ssolutian ❑� Trustvr"s {regardl�ss vf whether election to continue is made}, any
<br /> member withdraws �rom �he limited liability company, or any vther #erm�nafion of Trustor's ex�stenc� as a going
<br /> business or the death o� any member, the insvl�ency vf Trustor, the appvintmen� a� a re�ei�er for any part o�
<br /> Trustor's pr�p�rty, any assignment for th� b�ne�it of creditvrs, any type �f c�editor workvut, or the
<br /> comm�ncement of any proceeding under any bankruptcy or insvl�ency laws by or against Trusfior.
<br /> Creditar �r For#ei#ure Prviceedings. Commencement �� �oreclosure ar �orfei�ure proceedings, whether �ay judicial
<br /> prviceeding, sel�-help, repossession or any other me�hvd, by any creditor vf Trustor vr by any ga�ernmental agency
<br /> against any property securing �he lndebtedn�ss. This includes a garnishment a� any vf Trustor's accaun�s,
<br /> including deposi� acc�unts, with Lender. Howe�er, this E�ent of Defau��k shall not apply if �h�r� is a g�vd fai�h
<br /> d�spu�e by Trustor as tv the �a[idity or reasonableness of th� claim which is the basis of�he creditar or tvrfeiture
<br /> pro�eeding and if Trustor gi�es L�nder writt�n nvtice of the creditor or for#ei�ure proceeding and deposits with
<br /> �ender moni�s or a surety bond for�he credit�r or fiorfeiture proceeding, in an amount determined by Lend�r, in its
<br /> so�e discre��on, as being an adequat� reser�e�r band for the d�spute.
<br /> �reach o��ther Agreement. Any breach by Trustvr under�he terms of any other agreement between Trustar and
<br /> Lender tha# is n�t remed'€ed wi�hin any grace period pro�ided therein, including without limitatian any agreemen�
<br /> concerning any indeb�edness or vther ob�i�ation of Trustflr to Lender, whe�her existing nvw ar later.
<br /> E�ents Affecting Guarantvr. Any vf the preceding e�ents occurs with respect �o any Guarantor of any of the
<br /> Indebt�dness vr any Guarantor dies or becvmes incampeten�, ar re�okss or disputes the �alidity of, or [iabili�y
<br /> under, any Guaranty of the Indebtedness.
<br /> Ad�erse Change. A materia� ad�erse change occurs in Trustar's �inancial condition, or Lender befie��s the
<br /> praspect v#payment vr performance of the Indebtedness is impaired.
<br /> Ins��ur�ty. Lender in good faith belie�es itsel�inse�ur�.
<br /> Right to Cure. lf any defauft, other than a default in payment, is curab[e and if Trustor has not been gi�en a notice
<br /> of a breach vf the same pra�ision af�his ❑eed of Trust with�n the preced�ng twel�e {12} months, i� may be cured if
<br /> Trustor, after Lende�sends written notice�a Trus�or demanding cure o�such defauft: {�� cures the defau�t w�thin
<br /> twenty �2�} days; or �2� i� the cure requires more than twenty ��Q} days, imm�dia�ely init�ates steps which
<br /> Lender deems in Lender's sole discreti�n to be sufficient to �ure the default and �hereafter continues and
<br /> completes all reasonabl�and nec�ssary st�ps su�fficient ta praduce�vmpliance as soan as reasanahly practical.
<br /> RI�HTS AND REMEOIES t3N DEFAULT. [f an E�ent of Default occurs under�his �eed af Trust, at any time therea�fter,
<br /> Trust�e or Lender may exercise any one or more o�the follvwing rights and remedies:
<br /> A�celeration Upon Default; Add�tional Remedies. If any E�en� of De#ault occurs as per the �erms of the Nofie
<br /> secured hereE�y, Lender may declare a�� Indehtedness secured by this �eed vf Trust to be due and payabl� and
<br /> the same sha��thereupon becvme due and payable w�thout any presentment, demand, protes�k or notice of any
<br /> kind. Therea�ter, Lender may:
<br /> {a� Either in person or by agent, with or without hringing any a��ion or pro�eeding, or by a re�ei�er
<br /> appvinted by a �vurt and wi�hvut r�gard �o the adequacy ❑f its security, enter upon and take possessiQn
<br /> � of the Property, or any par�ther�a�, in its own name or in the name of Trustee, and da any acts which it
<br /> deems nec�ssary or desirable to preser�e the�alue, marketab�[€ty or rentabi�ity af the Property, or part of
<br /> �he Praperty or �nterest in the Property; in�rease the income from the Property or pratect the security of
<br /> the Property; and, with ar without taking possession of the Proper�y, su� for ar v�herwise cal�ect the
<br /> ren�s, issues and prv�its of�he Proper�y, includ�ng thos� past due and unpaid, and apply the same, �ess
<br /> cvsts and expenses o�r vpera�ivn and callec�i�n attflrneys' fees, fiv any indebtedness secu�ed by this Deed
<br /> of Trust, all in such order as Lender may determine. Th� entering upon and taking pvssession af the
<br /> Property, the collectivn of such renrs, issues and prvfits, and the app�icatian ther�of shall not cure ar
<br /> wai�� any default �r no�ice af de�ault under this ❑eed of Trust or in�alidate any act done in response ta
<br /> such default or pursuant to such notice o�default; and, notwiths�anding the con#inuance in possessivn of
<br /> the Praper#y or the collection, receip� and applica�ion o� ren�s, issues or profits, Trustee vr L�nder sha[�
<br /> �e entitled to exercise e�ery right pro�id�d for in the N�te ❑r the Related D�cum�nts ar hy law upon the
<br /> accurren�e o�any e�ent o�de�ault, includ�ng the right to exercise the power of sale;
<br /> �by Cammence an ac�ion to fareclose th�s Deed of Trust as a mvrtgage, appoint a recei�er ar spe�ifically
<br /> en�orce any��the co�enants hereof; and
<br /> �c} Deli�er t❑Trus�ee a w�itten declaration of default and demand�o�sale and a writ�en noti�e of defauit
<br /> and election�o cause Trust�r"s in�er�st in the Property�a be sald, which no�ice Trus�ee sha�i cause t❑ be
<br /> duly filed fo�recard in the appropriate o��ices vf�he County in which the Property is laca#ed; and
<br /> [d� Vllith respect�v a[[ or any part af the Persvnal Property, Lender shall ha�e al� the rights and remedi�s
<br /> of a secured par�y under the Nebraska Uniform Commer�ial Cod�.
<br /> For��lasure by Power of 5a�e. I�Lender elects to forecl�se hy exercise of the Power o#5ale herein con�ained,
<br /> Lender shall nat€�y Trustee and shall deposit with Trustee this Deed of Trust and the Note and such reCeipts
<br /> and e�idence o�expenditures made and secured by�his Deed of Trust as Trustee may require.
<br /> �a} Upon receipt of such notice�rom Lender, Trustee shall cause to be recorded, published and delivered
<br /> to Trus�or such No�ice of ❑�#aulfi and Notice of Sale as then required hy law and �y this ❑�ed o�Trust.
<br /> Trustee shall, withou� demand on Trustor, a�ter such tim� as may th�n be requir�d by law and af�er
<br /> re�ordation of such Notice of De�aul� and a�ter Natice ❑f Sa�e ha�ing been gi�en as required by law, sell
<br /> the Property at the time and pCace of sale fixed by i� in such Nvtice vf Sa�e, either as a whoie, or in
<br /> separate Iots or parc�ls or i�ems as Trustee shall deem expedient, and in such arder as it may determine,
<br /> at publi� auction to �he highest ��dder for �ash in law#ul money of the United Sta�es paya�le at the t�me
<br /> of sale. Trus�ee shaii deli�er to such purchas�r or purchasers �hereof its gaod and suf�icien� deed or
<br /> deeds con�eying the proper�y sa so�d, bu� without any co�enant or warranty, express or implied. The
<br /> recitals in such de�d o� any matters or fa��s sha�� be conclusi�e proof vf �he truthfulness thereo�. Any
<br /> person, inciuding without limitation Trustor, Trustee, or Lender, may purchase at such sa�e.
<br /> �b� As may be permitt�d by law, a�ter deducting a�! �as�s, fees and expenses af Trustee and ofi this
<br /> Trust, including cos�s o�e��dence vf titie in cvnnection with sale, Trustee shaff apply the proceeds of saf�
<br /> ta payment v� �i� all sums expended under th��erms o�this Deed a�Trust or unde�the terms vf the N�te
<br /> nat �hen repaid, including but no� limited to accrued interest and late charges, �ii� all other sums then
<br /> se�ured hereby, and �iii� th� remainder, i�any, to the person vr persons legally�ntit�ed�hereto.
<br /> �cy Trustee may in the manner pro�ided hy law pas�pone sale of all or any portion��the Property.
<br /> � Remedies Not Ex�lusi�e. Trustee and Lender, and each of them, shall be entitl�d to en�or�e payment and
<br /> performance of any indebtedness or vbligations secured by this Deed a�Trust and ta exercise a�! righ�s and powers
<br /> under �his ❑eed o�Trust, under the Note, under any v� �he Rela�ed D�cumen�s, or under any other agreement or
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