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2� 1 ��2155
<br /> DEED �F TRUST
<br /> Lvan No: 'I�'1�9473'I �CDr1t�rlu�d� Pa�e 3
<br /> Lender may do so. If any act�on ar pro�eeding is commenced that wauld materialfy af�ect Lender's interests in th�
<br /> Property, then Lender on Trustor's beha�f may, but is not required to, take any actian that Lender belie�es to be
<br /> appropriate to prvtect Lender's interests. AE! expenses incurred ar paid by Lender far such purpvses will then bear
<br /> interest at the rate charged under the Credit Agreement #rvm the date incurred or paid by Lender ta �he date at
<br /> repayment by Trus�or. A11 such expenses wiil be�ome a part af the Indebtedness and, at Lender's option, will �A� be
<br /> payable on demand; tBy be added to the balance �f the Credit Agreement and be apport�flned among and be payable
<br /> with any installment payments tv became due during eith�r �1} the term of any applicab�e insurance policy; or �2� the
<br /> remaining term ❑f the C�ed�t Agreement; vr {�� be treated as a balloan payment wh�ch will be due and payable at the
<br /> Credit Agreement's maturity.
<br /> WARRANTY; DEFENSE �F TITLE. The following pro�isions relating t❑ ownership❑f the Prvperty are a part❑f this Deed
<br /> af Trust:
<br /> Title. Trustor warrants that: �a} Trustor haids gvod and mark�tab�e title of record ta the Property in #ee simple,
<br /> free and clear ❑f a[! liens and encumbrances vther than those set fvrth in the Real Property descriptian or in the
<br /> Existing Indebtedness sectivn below ar in any title insuranc� poli�y, title repart, or�inal �itle opinion issued in fa�or
<br /> vf, and ac�epted by, Lender in conne�tian with this Deed of Trust, and �b� Trust�r has �he full right, pawer, and
<br /> autharity to execu#e and deli�er th�s Deed af Trust to Lender.
<br /> Defense of Titie. Subjec� to the exception in the paragraph aba�e, Trustor warrants and wilf fvre�er d�fend the
<br /> title to �he Praperty against the �awfu! claims ❑f all persvns.
<br /> EXISTING INDESTEDNESS. The following pro�isions concerning Existing Indebtedness are a part af this Deed of Trust:
<br /> Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferivr to an
<br /> existing lien. Trustvr expressEy co�enants and agrees t❑ pay, ❑r see t❑ the payment of, the Existing Ind�btedness
<br /> and to pre�ent any default vn such ind�htedness, any default und�r the instruments ��idencing such indebtedness,
<br /> or any default under any security documents for such indebtedness.
<br /> EVENTS aF DEFAULT. Trustvr will be in default under thts ❑eed of Trust if any ❑f the following happen: �Ay Trustar
<br /> commits fraud ar makes a material misrepresentation at any time in cvnnection with the Credit Agreement. This can
<br /> include, fo� example, a false statement about Trustor's incame, assets, liabi�ities, Qr any other aspects vf Trust�r's
<br /> financtal condition. {6} Trustor does not meet the repaym�nt terms of the �redit Agreem�nt. �C� Trustvr's activn ❑r
<br /> inactivn �d�ersely affects the collateral or Lender's rights in the �vllateral. Thi� can include, far examp�e, fiailure to
<br /> maintain required insurance, waste vr destructi�e use of the dwelling, faiture tv pay taxes, death of all persons liable an
<br /> the a��aunt, transfer vf title or sale of the dw�lling, creation of a senivr lien vn the dwelling without L�nder's
<br /> permissian, fareclosure by the holder af another lien, or the use of funds ❑r the dwelling for prahibited purposes.
<br /> RiGHTS AND REMEDIES 4N DEFAULT. Up�n the occurrence fl� any E�ent ❑f Defauit under any indebtedness, or
<br /> should Trustor fai! to camply with any of Trustnr's obligativns under this Deed o�Trust, Trustee ar Lender may exercise
<br /> any one or more of the folfawing rights and remedies:
<br /> Acce�erativn Upon Default: Additi�nal Remedies. If any E�ent of Default❑ccurs as per the terms af the Cr�dit
<br /> Agreement secured here�y, Lende� may deciare all [ndebtedness se�ured by this Deed vf Trust to be due and
<br /> payabfe and the same shall th�reupon became due and payabfe without any presentment, demand, protest or
<br /> not�ce af any kind. Thereafter, Lender may:
<br /> �a� Either in persvn ❑r by agent, with ar withaut bringing any action or proceeding, or by a recei�er
<br /> app�inted hy a court and without regard to the adequacy of its security, ent�r upon and take possession
<br /> of the Praperty, or any part thereaf, in its vwn name or in the name of Trustee, and do any acts which it
<br /> deems necessary ❑r desirable to preser�e the �alue, marketability ❑r rentability of the Praperty, or part of
<br /> the Property o� interest in the Prvperty; increase the income frvm the Property flr protect the security of
<br /> the Prv�erty; and, with ❑r without taking possession af the Pro�erty, sue fvr ar ❑therwise co�lect the
<br /> rents, issues and profits af the Property, inc�uding thase past due and unpaid, and apply the same, less
<br /> cvsts and expenses ❑f aperativn and colle�tion attorneys' fees, to any indebtedness se�ured by this Deed
<br /> a� Trust, all in such arder as Lender may determine. The entering upon and taking possession af the
<br /> Prvperty, the collection ❑f such rents, issues and profits, and the application thereof shall not cure ar
<br /> waE�e any default or notice of default under this ❑eed a#Trust vr in�alidats any act dons in respanse to
<br /> such default or pursuant to su�h notic� of default; and, notwithstanding the continuan�e in possession �f
<br /> the Proper�y or the callect�on, re�eipt and ap�licativn af �ents, issues or profits, Trust�e �r Lender shall
<br /> be en�itled to exercise e�ery right pro�ided far in the Credit Agreement ar the Re�ated Documents or by
<br /> law upon the accurrence ❑f any e�ent af default, in�luding the right tv exercise the power nf sale;
<br /> �b� Cammence an act�an ta for�ciose this Deed of Trust as a mortgage, appvint a recei�er vr spec�fEcally
<br /> enforce any vf the co�enants hereof; and
<br /> �c� Deli�er t❑ Trustee a written de�laratian of default and demand far sale and a written nvtice of default
<br /> and e�e�tion ta cause Trustar's interest in the Property to be sold, which notice Trustee shali cause to be
<br /> duiy fil�d for recard in the appropriate offices vf th� �ounty in which the Property is located; and
<br /> �dy VVith respect�o all vr any part of the Per�onal Property, Lender shali ha�e al� the rights and remedies
<br /> af a secured party under the Nebraska Unifvrm Commercial Code.
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