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2� 1 �� 1971
<br /> owned or operated by Trus�ar vr ��abili�y imposed as a c�nsequence by �eason af T�ust�r's acti�i�ies
<br /> and wi[1 defend and indemnify Lende� against all cia�ms, Iosses, Iiabilities, and �xpenses incurred �y
<br /> Lender as a resuit thereaf. This covenant will survive cance[lation, expira�i�n �r�ermination of this �rust
<br /> deed.
<br /> G� Each af�he fallowing sha�� constifute an eWent�f default:
<br /> a� Failure �o make any paymen�when due under any Lvan Dvcument ar a�her �bligafion secured by
<br /> �h i s�ru st d eed.
<br /> b. Fai�ure �o pay any liens, judgments, assessments, �axes, ren�s, fees, or charges or ma�n�ain any
<br /> �nsurance on �he Property, buildings, fix�ures, aitachm�nts, or impro�em�nts as p�ovided in fhis �rusf
<br /> deed, ar in any o�her Loan Document.
<br /> �. Any breach or mat�rial misrep�esenta�ion of any �erm, agreemen�, co�enan�, condi��on,
<br /> certlfica�ion, representa�i�n or warran�y as pra�ided �n this�rust deed, vr any other Loan Dacument.
<br /> d. Sa[e, transfer, or conveyance of the Property de�cribed hereEn withou� prior v�rri�ten cons�n� af
<br /> Lender. �
<br /> e� Any use of Ivan p��ceeds far a purpose that wil[ contribute to excessive eras�on of h�ghly erodib[e
<br /> [and or�o �he can�ersion of`r�re�lands fa produce or to make passib�� �he produc�ion of an agriculfiura[
<br /> �vmmodity, as further�xpfained in 7 CFR Par�'194�, Subpart G, Exhibi� M.
<br /> f. The death, dissalu�i�n �r insa[vency of any Trus�or; fhe appointment af a receiver for any Trus�ar or.
<br /> fheir Property; any assignment for fh� benefif af credi�ors by �he Trust�r; or app[ica�ian of any debtvr
<br /> relief law �o T�us�vr, �nciuding any type of workou� or commencement of proc�eding under any
<br /> bankruptcy or insol�ency laws by or against any Trustor or B�rrower on any Loan Documen�or a�her
<br /> �bligation secured by�his trust d�ed.
<br /> g. Any of �he preceding events occurs w�th respecf �a any guaranfor, endorse�, sur�ty, or
<br /> accommodation party af any of�he �bligati�ns or any guaran�or, endorser, surety, �r accammoda�ion
<br /> party dres or becomes incampe�ent, ar �-evokes or disputes �he �alidi�y of, ar liab�li�y under, any
<br /> � guaran�y of the�bliga�ions.
<br /> 7. ln the e�en�of a defaul�and at any�ime thereafte�, L�nder�, at its �pti�n, subjec��o any �equiremenfis
<br /> under the Farm �redi� Act or other app[icable federal or state la�rv, may exercise ane or more of �he
<br /> forCoirving righ�s and remedies, in addi�ion �o any o�her righ�s ar remedies permi��ed by law:
<br /> a. Dec[are all �h��ga�ions secured here�y�o be immedia�ery due and payable and �he whole wi[I bear
<br /> in�erest a�the d�faul�ra�e as pravrded in the Laan Documen�s.
<br /> b. Lender may immediately au�ho�ize Trustee to ex�rcise the power af sale gran�ed herein in th�
<br /> manner provided in �he Nebraska Trust Deeds Act, or, at the optian of fhe Lender, may f�recl�se the
<br /> �rus� deed in the manner p�ovided by lav�r for�h� fareclosure of mortgages on real property, -including
<br /> �he appoin�men� of a �eceive� upon ex parte applicat�on, no�ice being hereby expressly wai�ed,
<br /> �v�thou� regard to the �a[ue vf �he praperty or �he sufficiency �h�reof �o d�scharge �he �ndeb�edness
<br /> secured hereby or in the L�an Documents.
<br /> Should Len�er e[ec�ta exercise �he powe� af sale gran�ed herein, Lende�wilI notify Trustee wh� wEll
<br /> record, publish, and deliver �o Tr�stor�s} such No�ice vf Default and Nofice of 5ale as then required
<br /> by Ca�rv and wilI in fhe manner provided by law, seii �h� property a��he �ime and place af sale fi�ced in
<br /> the no�ice of sale, eifher as a whole ar in separa�e lo�s, parce[s, or i�ems and �n such ord�r as Trus�ee
<br /> will deem expedient. Any p�rson may bid a��he sale rncluding Trustor, Trustee, ar Lender.
<br /> c. Lender, either in person ar by agen�, w��h or wi�hout bringing any ac��on o� pro��eding and with or
<br /> wi�houf regard to �he �aiue of the Property or the sufficiency thereof �o discharge the �biiga�ions
<br /> secured here�y, is au�hari�zed and enfiffed to enter upan and take possessivn of the Property in its
<br /> vv�rn name or in �he nam� of�h�Truste� and d� any ac�s or expend any sums i�de�ms ne�essary or
<br /> desirable ta pro�ect or preserve the value of the Property v� any in�erest fiherein, or increase th�
<br /> inc�me th�refrom; and with �� wi�hou� taking possession �f �he Property is authorized to sue far �r
<br /> � o�herwise colI�cfi fihe ren�s, issues, crops, profits, and incvme �hereof, including those past due and
<br /> unpa�d, and apply the sam� upon any �b�igations secured hereby ar in�he Loan Dacumen�s.
<br /> d. Lender vtirill be en�itled �a a recei�er ta take immedia�e possessi�n�of �he Property and a�� ren�s,
<br /> issues, craps, profits, and income th�reof, withou� regard to �he rra[ue af the Property, or the
<br /> sufficiency �her�of �o discharge the trust d�ed deb� and �he fnrecl�sure costs, f�es, and expenses.
<br /> 5uch receiver may be rmmediately appain�ed by any court of compe�en� jurisdic�Eon upon ex parte
<br /> app[�ca�ian, nv�ice be�ng hereby expressly waiWed and sha11 serve wi�hout band if�he law allows. The
<br /> receiver �rvi1[ apply a[I rents, issues, crops, profi�s, and income of the Pr�perty ta keep the same in
<br /> g�od reparr and condi��on, pay all �axes, ren�s, fees, charges, and assessmenfs, pay �nsurance
<br /> pr�emiums necessary to k�ep the Property insured, pay the expense of�he recei�ersh�p and a��orney's
<br /> App#:53778�4; C[F#:384�3; Nofe#:30�69�5 2�2ER Lega[Dac.❑afe:April�,20�6
<br /> F4RIIJI 5D1'�,Trust Deed and Assignment af Rents Page 5 of 8
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