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2� 1 ��358�
<br /> aEE� �F T�usT
<br /> ��ontinued� Page a
<br /> Defec�ive Cal[ateral�zation. This D�ed of T�ust or any of the Related �ocuments ceases to be in fu[� force and
<br /> eff�ct �including �ailure of any co��ateral documen� to create a �alid and perfected securi�y int�rest or I�en} at any
<br /> time and for any reason.
<br /> Death ar �nsol�ency. The disso[utian of Trustor's �regardless of whether election to cont�nue is made}, any
<br /> member withdraws fram the limited liabili�y company, ar any ather termination of Trustor's existen�e as a going
<br /> business or �he death o� any member, the inso[�ency of Trustor, the appoin�ment of a rec�i�e� for any part o�
<br /> Trus�or's prop�rty, any assignm�nt for the benefi� vf credi�ors, any type o� ereditvr workou�, ar the
<br /> comm�ncement o�any proceeding under any bankruptcy or insol�ency laws by ar against Trustor.
<br /> Creditor ar Forfe�ture Prviceedings. Cflmmencement flf forec�osure or farfeiture proceedings, whether by judicial
<br /> p�aceeding, self-help, repossession or any o�her method, by any credi�or o�Trus�ar ar by any go�ernmen�al agency
<br /> against any property securing the lndebtedn�ss. This includes a garnishment of any of Trustor�5 accvunts,
<br /> in�luding depasit accoun�s, with Lend�r. Howe�er, this E�ent o� Default shall nv� app�y if ther� is a good �a�th
<br /> d�spute by Trustor as to the �alidi�y ar reasonabl�ness of�he c�aim whi�h is the basis o�the creditor ar forfeitur�
<br /> proceeding and if Trustor gi�es Lender writ�en notice of the creditar or for�eiture proceeding and deposi�Cs with
<br /> Lender monies or a surety bond �or the creditor or forfeiture proceeding, in an amount d�termined by Lender, in its
<br /> sale discretion, as being an adequate reser�e or�ond for the dispu�e.
<br /> Breach nf D�her Agreemen#. Any breach by Trustar under th� terms of any other agreemen� between Trustor and
<br /> Lender that is nat remedied wi�hin any gra�e period pr��ided therein, including without limi�ation any agreement
<br /> concerning any indebtedness or other❑bligati�n of Trus�or to Lender, whether existing now �r later.
<br /> E�ents Affe�ting Guarantor. Any of the pre�eding e�ents ❑�curs with respec�to any guarantar, endarser, sure�y,
<br /> or accommodation party ❑f any of the Indebtedness or any guaran�or, endorser, surety, or accommodation party
<br /> dies or becomes inc�mpeten�, or re�vkes or dispu'�es the �alidi�y o�, or liability under, any Guaranty vf the
<br /> Indebtedness.
<br /> Ad�erse Change. A material ad�erse change occurs in Trus�or's ��nancial cvnditivn, or Lender belie�es th�
<br /> prospec�of payment or performance of�he Indebtedness �s impaired�
<br /> lnsecurity. Lender in�ovd faith belie�es itse��insecure.
<br /> R�ght to Cure. ff any default, ather than a default in paymen�, is curable and if Trustor has not been gi�en a no�ice
<br /> o�a breach of the same pro�ision❑f this Deed of Trust wi�hin the preceding twe��e {��� months, it may he cured ��
<br /> Trustor, a�ter Lender sends written notice to Trusto�demanding cure of such defaul�: �1� cures the d�faul�with�n
<br /> twenty ��0} days; or ��� �f the cure requires more than twenty �2�y days, immediateiy ini�iates steps Uvhich
<br /> Lender deems in Lender's sole discretion �o b� suffi�ient fio cure the defaul� and thereafter cantinues and
<br /> �ompletes all reasonable and necessary steps sufficient ta pr�duce complian�e as sovn as reasanabiy pra��ical,
<br /> RlGHTS AND REMEDIES aN DEFAULT. If an E�ent o� Default ac�urs under th�s C3eed of Trust, a� any time therea�ter,
<br /> Trustee ❑r Lender may exercise any ane o�more of the fallowing rights and remedies:
<br /> Accelerativn Upvn ❑e�ault; Additiona! Remedies. ff any E�ent of D�fau�t accurs as per the terms of the Not�
<br /> s�cured hereby, Lender may dec�are all indehtedness secured by this D�ed af Trust to be due and payabie and
<br /> the same shall�hereupan be�ame due and payable without any presentmen�, demand, protest or notice o�any
<br /> kind. Thereafter, L�nder may:
<br /> �a} Either in person �r by agent, with ar without bringing any ac�ion or pro�eeding, ar hy a recei�er
<br /> appointed by a court and withvu� regard to �he adequacy ❑f its security, enter upon and take possession
<br /> v��he Property, or any part thereo#, in its own name or in the name of Trustee, and do any acts whi�h �t
<br /> deems necessary or desirahle to preser�e the �alue, marketabiliry or rentability of�he Prvperty, or part of
<br /> the Property or inter�st in the Proper�y; increase th� incom� from the Proper�y or protect the securi�y of
<br /> the Property; and, with or without taking poss�ssion ❑f �he Property, sue #or or otherwise �olle�t the
<br /> rents, issues and pro�its af �he P�operty, inG�uding �h�se past due and unpaid, and apply the same, less
<br /> �osts and expenses of vperatian and collect�on a�torneys' �ees, �v any indeb�edn�ss secured by this Deed
<br /> of Trust, all �n such order as Lender may determin�. The en�ering upon and �aking pvssessian of the
<br /> Property, the c�ilection af such rents, issues and pro�its, and the applica�ion thereof sha�� not cure ❑r
<br /> wai�e any de�fau[t or no�ice o#defaul� under this Deed o�Trust or in�alida�e any a��done in response ��
<br /> such de�aul��r pursuant to such n�tice of default; and, no�withstanding�he c�ntinuan�� in possession of
<br /> the Property or the collection, receipt and applicatian of rents, issues �r pro�its, Trustee or Lend�r shall
<br /> �a� entitled �o exer�ise e�ery righfi pro�ided #or in �he No�e vr th� Rela�ed Documents or by !aw upan the
<br /> ❑ccurrence o�any e��nt of default, including the right�a�xercise�he powe�❑f sale;
<br /> �b} �ammence an acti�n to�oreciose this Deed o�Trus�as a mortgage, appaint a recei��r or speci�ically
<br /> en�Force any of the co�enants herev�; and
<br /> tcy Deli�er to Trustee a written dec�aration❑f de�ault and demand for sale and a writt�n notic�of default
<br /> and eiec�i�n�o cause Trustor's interest in the Praperty to fae sald, which nat�ce Trustee shall cause to be
<br /> duly�iled f�r r��ord in the appropriate offices af the Caunty in which�he Property is loca�ed; and
<br /> �d� Wi�h resp�c��o all or any part of the Pers�nal Prop�rty, Lender shal� ha�e all the righ�s and remedies
<br /> of a secured party under the Nebraska Uniform Comm�rcial Code.
<br /> Fareclosure hy Pvwer vf Sa[�. If Lender�lects to foreclose by exercise vf�he Power of Sa�e herein contained,
<br /> Lender shall noti�y Trustee and shall deposit wi�h Trust�e �his D��d of Trust and the Note and such receipts
<br /> and e�idence of expendi�ur�s made and secured by this ❑eed of Trust as Trustee may requ��e.
<br /> {ay Upan �ece�pt of such notice from �ender, Trustee shall caus� to be recard�d, published and de[i�ered
<br /> to Trustor such No�ice a� Defaul� and Notice of Sale as then required hy law and by this ❑eed of T�ust.
<br /> Trustee shall, withou� demand on Trustor, af�er such time as may then be required by law and a�ter
<br /> recordation of such Notice o� �efault and after Notice �f Sale ha��ng been gi�en as requ�red by �aw, se�l
<br /> the Property at th� time and place of sale �ixed by it in such Natice of Sale, ei�her as a whole, or in
<br /> separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may de�ermine,
<br /> at pub[�c au��ian to the highest bidder for cash in lawful money o�the United 5tates payab�e at the time
<br /> of sale. Trustee shall deli�er ta such purchaser or purchasers �hereaf i�s good and su��icien� deed or
<br /> de�ds conveying the pr�perty so sold, but without any �o�enant or warranty, express �r implied, The
<br /> r�cita�s in such deed of any ma��ers o� �acts shal[ be conclusi�e proaf of the tru�hfulness therevf. Any
<br /> person, in�luding without�€mita'tion Trustor, Trust�e, or Lender, may pur�hase at such sa�e.
<br /> �by As may be permi�ted by law, a�ter deducting all cos�s, fees and expenses of Trustee and o� this
<br /> Trust, in�luding costs �f ev�dence�f tit�e in connectifln wi�h sale, Trustee sha�! apply the proceeds af sa�e
<br /> to paymen�of ��} all sums expended under the�erms af this D��d of Trust or under the t�rms of the Nvte
<br /> not then repaid, including but no� limited t❑ ac�rued interest and late charg�s, �ii} all other sums then
<br /> secured hereby, and �iii� �he remainder, i�any, to the p�rson or p�rsans legalfy entitled thereto.
<br /> �cy Trustee may in the manner prv�ided by �aw pos�pone sale af all o�any pvrtiQn af the Praperty.
<br /> R�medies Nv� Ex�[usive. T�ustee and Lender, and each ❑f th�m, shall be entitled t❑ enfar�e payment and
<br /> p��formance of any �ndeb�edness ar obligat€ons secured by this Deed of Trust and tfl exercise a�! rights and powers
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