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<br />7. In the event of a default and at any time thereafter, Lender, at its option, subject to any requirements
<br />under the Farm Credit Act or other applicable federal or state law, may exercise one or more of the
<br />following rights and remedies, in addition to any other rights or remedies permitted by law:
<br />a. Declare all Obligations secured hereby to be immediately due and payable and the whole will bear
<br />interest at the default rate as provided in the Loan Documents.
<br />b. Lender may immediately authorize Trustee to exercise the power of sale granted herein in the
<br />manner provided in the Nebraska Trust Deeds Act, or, at the option of the Lender, may foreclose the
<br />trust deed in the manner provided by law for the foreclosure of mortgages on real property, including
<br />the appointment of a receiver upon ex parte application, notice being hereby expressly waived,
<br />without regard to the value of the property or the sufficiency thereof to discharge the indebtedness
<br />secured hereby or in the Loan Documents.
<br />Should Lender elect to exercise the power of sale granted herein, Lender will notify Trustee who will
<br />record, publish, and deliver to Trustor(s) such Notice of Default and Notice of Sale as then required
<br />by law and will in the manner provided by law, sell the property at the time and place of sale fixed in
<br />the notice of sale, either as a whole or in separate lots, parcels, or items and in such order as Trustee
<br />will deem expedient. Any person may bid at the sale including Trustor, Trustee, or Lender.
<br />c. Lender, either in person or by agent, with or without bringing any action or proceeding and with or
<br />without regard to the value of the Property or the sufficiency thereof to discharge the Obligations
<br />secured hereby, is authorized and entitled to enter upon and take possession of the Property in its
<br />own name or in the name of the Trustee and do any acts or expend any sums it deems necessary or
<br />desirable to protect or preserve the value of the Property or any interest therein, or increase the
<br />income therefrom; and with or without taking possession of the Property is authorized to sue for or
<br />otherwise collect the rents, issues, crops, profits, and income thereof, including those past due and
<br />unpaid, and apply the same upon any Obligations secured hereby or in the Loan Documents.
<br />d. Lender will be entitled to a receiver to take immediate possession of the Property and all rents,
<br />issues, crops, profits, and income thereof, without regard to the value of the Property, or the
<br />sufficiency thereof to discharge the trust deed debt and the foreclosure costs, fees, and expenses.
<br />Such receiver may be immediately appointed by any court of competent jurisdiction upon ex parte
<br />application, notice being hereby expressly waived and shall serve without bond if the law allows. The
<br />receiver will apply all rents, issues, crops, profits, and income of the Property to keep the same in
<br />good repair and condition, pay all taxes, rents, fees, charges, and assessments, pay insurance
<br />premiums necessary to keep the Property insured, pay the expense of the receivership and attorney's
<br />fees incurred by the receiver, and apply the net proceeds to the payment of the Obligations secured
<br />hereby. Such receiver will have all the other usual powers of receivers authorized by law and as the
<br />court may direct.
<br />e. In the event Trustor fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges
<br />or maintain any insurance on the Property, buildings, fixtures, attachments, or improvements as
<br />provided herein or in the Loan Documents. Lender, at its option, may make such payments or provide
<br />insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal
<br />Obligations secured hereby, be immediately due and payable and bear interest at the default rate
<br />provided in the Loan Documents from the date of payment until paid. The advancement by Lender of
<br />any such amounts will in no manner limit the right of Lender to declare Trustor in default or exercise
<br />any of Lender's other rights and remedies.
<br />f. In the event Lender is a party to any litigation affecting the Property or this trust deed, including any
<br />action by Lender to enforce this trust deed or any suit in which Lender is named a defendant
<br />(including eminent domain and bankruptcy proceedings), Lender may incur expenses and advance
<br />payments for abstract fees, attorney's fees (to the extent allowed by law), costs, expenses, appraisal
<br />fees, and other charges and any amounts so advanced will become part of the principal Obligations
<br />secured hereby, be immediately due and payable and bear interest at the default rate provided in the
<br />Loan Documents from the date of advance until paid.
<br />8. Delay by Lender in exercising its rights upon default will not be construed as a waiver thereof, and
<br />any act of Lender waiving any specific default will not be construed as a waiver of any future default. If
<br />the proceeds under sale or foreclosure as set forth above are insufficient to pay the total Obligations
<br />secured hereby, Lender will be entitled to a deficiency judgment.
<br />9. Any awards made to Trustor or their successors by the exercise of eminent domain are hereby
<br />assigned to Lender; and Lender is hereby authorized to collect and apply the same in payment of any
<br />indebtedness, matured or un- matured, secured by this trust deed. Trustor shall immediately notify
<br />Lender of any action in eminent domain.
<br />App #: 5389879; CIF #: 210478; Note #: 3034409 220SQ Legal Doc. Date: May 16, 2016
<br />FORM 5011, Trust Deed and Assignment of Rents Page 6 of 9
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