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2� 1 ��3235
<br /> DEED �F TRUST
<br /> Lvan No: 1 D�295�34 ��ontinued� Ra�e 3
<br /> Lender may da sa. !f any action or pro��eding is cvmmen�ed that would materially affect Lender's interests in the
<br /> Prvperty, then Lender on Trustor's behalf may, but is nat required to, take any action that Lender belie�es t❑ be
<br /> appropriate tv protect Lender's interests. All expenses incurred vr paid by Lender #�vr such purposes wi�l then �ear
<br /> �nterest at the rate charged under the Credit Agreement frvm the date incurred ❑r paid by Lender to the date of
<br /> repayment by Trustor. All such expenses will become a part of the Indebtedness and, at Lender's vption, wil! �A} be
<br /> payab�e ❑n demand; �Bf be added to the balance vf the Credit Agreement and be apportioned am�ng and be payable
<br /> with any installment payments to becvme due during either �1 y the term ❑� any applicable insurance policy; or �2� the
<br /> remainin� term of the Credit Agreement; or �C} be treated as a balloon payment which wi�i be due and payable at the
<br /> Credit Agreement's maturity.
<br /> VIlARRANTY; QEFENSE aF TITLE. The follvwing prv��sions relating ta ❑wnership af the Prvperty are a part�f th�s Deed
<br /> of Trust:
<br /> Title. Trustar warrants that: �a} Trustor hofds g�od and marketable titfe ❑f record �o the Prvp�rty in fee simple,
<br /> free and clear of all liens and encumbrances other than those set �vrth in the Real Praperty d�scripti�n or in the
<br /> Existing ]ndebtedr�ess se�tion belavv �r� in any tit�e insurance pQlicy, title repart, flr final title opinion issued in �Fa�or
<br /> vf, and a�cepted by, Lender in cvnnec�ion with this Deed ❑f Trust, and �b� Trustor has the full right, pawer, and
<br /> authority tv execute and deli�er this D�ed ❑f Trust t❑ Lender.
<br /> Defense of Title. Subject ta the exception in the paragraph abfl�e, Trustar warrants and will fore�er defend the
<br /> t�tle t❑th� Pr�perty against the lawful claims of a!1 persons.
<br /> Ex1STlNG [NDEBTEDNESS. The following pro�isions cancerning Existing Ind�btedness are a part of this Deed ❑f Trust:
<br /> Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be seGondary and inferiar to an
<br /> existing lien. Trustar expressly co�enants and agrees tv pay, or see to the payment af, the Extsting Indebtedness
<br /> and to pre�ent any default on such indebtedn�ss, any defauit under the instruments e�idencing suGh Endebtedness,
<br /> or any default under any se�urity documents fvr such indebt�dness.
<br /> EVENTS aF DEFAULT. Trustor will be in default under this Deed af Trust if any of the ��llowing happen: �Ay Trustor
<br /> c�mmits fraud or makes a material misrepresentativn at any time in cannectivn with th� Credit Agreement. This �an
<br /> include, far example, a false statement abaut Trustor's incvme, assets, �iabilities, or any vther aspects vf Trustar'�
<br /> finan�ial condition. �By Trustor does not meet the repayment terms af the Credit Agreement. �C} Trustvr's actian �r
<br /> inactivn ad�ersely affe�ts the callateral or Lender's rights in the collateral. Thi� can include, f�r example, failure to
<br /> maintain required insurance, waste ❑r destructi�e use of the dwelling, failure t❑ pay taxes, dea#h ❑f all persons liable an
<br /> the accvunt, transfer of title ❑r saie o# the dwelling, creativn ❑� a senior lien on the dwelling without Lender's
<br /> permission, fvreclasure k�y the hvlder of another�ien, or the use v#funds or the dwelling far prohibited purposes.
<br /> RIGHTS AND REMEDIES �N DEFAULT. Upon the occurrence ❑f any E�snt ❑f ❑efau�t under any indebtedness, or
<br /> should Trust�r fail t❑ �amply with any of Trus#�r's obligations under this Deed of Trust, Trustee or Lender may exerc�se
<br /> any one ❑r more v��he following righ�s and rem�dies:
<br /> Acceleration Upon Default; Additiana! Remedies. Ifi any E�ent af flefault occurs as per the terms ❑f the �redit
<br /> Agreement secured hereby, Lender may declare all Indebtedness secured �y th�s Deed of Trust to be due and
<br /> payable and the same sha�l thereupon be�ame due and payable without any pr�sentment, demand, pratest ar
<br /> notice vf any kind. Therea#ter, Lender may:
<br /> {a� Either in persvn ❑r by agent, with or withvut bringing any action or proceeding, or by a �ecei�er
<br /> appointed by a court and without regard t❑ �he adequacy vf its se�urity, enter upon and take possessfon
<br /> of the Property, ❑r any part therevf, in its own name �r in the name of Trustee, and d❑ any acts which i�
<br /> deems ne��ssary or desirable t❑ p�eser�e the �alue, marketability or rentab�lity af the Property, ar part of
<br /> the P�vperty ar interest in the Praperty; increase th� income �rom the Property ❑r p�atect the se�urity of
<br /> the Property; and, with or withaut taking passessivn af the Property, sue far or atherwise collect the
<br /> rents, issues and prv�its af the Property, inc�uding thase past due and unpaid, and apply the same, less
<br /> �osts and expens�s of operation and coilectia� att�rneys' fe�s, ta any indebtedness secured by this Deed
<br /> of Trust, all in such order as Lender may determine. The entering upon and taking possessivn o� the
<br /> Property, the collectian of such rents, issues and profits, and the application thereof shall not cure or
<br /> wai�e any default or natice of default under this Deed vf Trust o� in�alidate any act done in respanse ta
<br /> such default nr pursuant t❑ such natice af default; and, notwithstanding the continuanGe in possession of
<br /> the Property ar the callectian, receipt and application a� rents, i55ues �r profit5, Trustee ar Lender shall
<br /> be entitled to exercise e�ery right pro�ided for in the Credit Agreement ❑r �he Related ❑ocuments vr by
<br /> law upan the accurrence of any e�ent of default, including the right tv exercise the pawer of sale;
<br /> �b� �ommence an action to far�close this D�ed of Trust as a mortgage, appain� a recei�er or specifica�ly
<br /> enfvrce any ❑f the cv�enants hereof; and
<br /> �c� Ueli�er to Trustee a written d�claration vf default and demand for sale and a written notice af defauit
<br /> and eEectivn ta �ause Trustvr's interest in the Property to be sold, which notice Trust�e sha�� cause to b�
<br /> du�y fi�ed fvr rec4rd in the apprapriate ❑ffices af the ��unty in wh�ch the Property is lo�ated; and
<br /> �dy With respe�t to all ar any part of the Personal Property, Lender sha�i ha�e all the rights and remedies
<br /> of a secured party under the Nebraska Uniform Cammercial Code.
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