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2� 1 ��3�39
<br /> DEED t]F TRUST
<br /> �COntinued� Page 5
<br /> Defecti�e Cvllateralizatinn. Th€s Deed af Trust or any o� the Relat�d t7vcuments �eases to be in ful� fo�ce and
<br /> e'�fect 4including �ailure �f any co�lateral documen� to create a valid and perfected security interes� or lien} at any
<br /> time and for any reason.
<br /> lnsot�ency. The dissolut�on or termina�ian of the Trus#, the insvl�ency o�Trus�or, the appointment vf a recei�er far
<br /> any part vf Trustor's proper�y, any assignment fvr the benefit of creditars, any type of creditor workout, or the
<br /> c�mmencement of any proc�eding under any bankrup�Gy or�nsol�ency laws by or agains�Trustor.
<br /> Creditor or Forfei�ure Pra�eedings. Commencemen� af foreclosure �r �orfei�ure proceedings, whether by judicial
<br /> proceeding, self-help, repossession or any other me�hod, by any creditor vf Trustor or by any gv�ernmenta� agency
<br /> against any property se�uring the lndehtedness. This includes a garnishment o� any of Trustor`s accounts,
<br /> in�luding depvsit accounts, with Lsnder. Howe�er, this E�ent of L7�fault shall not apply if there is a govd faith
<br /> dispute by Trustor as to the �alidity ❑r reasonableness a�the claim which is �he k�asis of the creditar or �orfeiture
<br /> proceeding and if Trustor gi�es Lender written notice o� the �reditor vr forfieiture pro�eeding and deposits with
<br /> Lender mon�es or a su�ety ��nd f��the creditor or�vrfeiture pro�eeding, in an amount determined by Lender, in ��s
<br /> so�e discretion, as being an ad�quate reser�e or bond far the dispute.
<br /> Breach o�f�ther Agreement, Any breach by Trustor und�r the terms o�any other agreement between Trustor and
<br /> Lender that is not remedied within any grace perivd pro�ided therein, including with�ut lim�tatian any agreement
<br /> concerning any indebtedness ar ather obligat�on vf Trustor to Lender, whether existing now or later,
<br /> E►►en�s Affe�ting Guarantor. Any af the preceding e�ents occurs with resp�ct�a any guarantor, endvrser, sur�ty,
<br /> ❑r accommoda�ion party of any of �he Indebtedness ar any guarantor, endorser, sure�y, ❑r accomm�dation party
<br /> dies or becomes inc�mpetent, or re�akes or dispu#�s the �alidity of, or liabi��ty under, any Guaranty �f the
<br /> lndehtedness.
<br /> Ad�erse Change. A ma�erial ad�erse change occurs �n Trus�or's ��nancial conditian, or Lender belie�es the
<br /> prQspect af payment ar performance af the Indebtedness is impaired.
<br /> Insecuri�y. Lender in good faith �elie�es its�l�insecure.
<br /> Right to Cure. �f any default, ❑ther than a de�faul�in payment, is curable and if Trusto� has n�t been gi�en a no�ice
<br /> o�a breach af the same prv�isian of'�his ❑e�d of Trust w�thin�he pr�ceding twel�e �12} months, it may be cured if
<br /> Trus�or, a�ter Lender sends written no�ice tv Trus�or demanding cure af such default: 4�� cur�s the default wi�hin
<br /> twenty ��Q} days; or ��y i� th� cure requires m�re than twenty 42D� days, immediate[y initia�es st�ps which
<br /> Lender deems in Lender's sa�e discreti�n to be suff�cient t❑ cure the defauit and ther�after cont�nues and
<br /> �ompletes all reasonable and ne�essary steps sufficient to produc� campliance as soan as reasvnably practical.
<br /> RIGHTS AND REMEDIES �N ❑EFAULT. If an E�ent�� Default occurs under this Deed of Trust, at any time thereaft�r,
<br /> Trustee or Lender may exercise any one or more of the�oiiawing rights and remedies:
<br /> Acceferativn Upvn Qefaul�; Additiana� Remedies. If any E�en�of De�ault occurs as per the �erms of the Note
<br /> se�ured hereby, Lender may de�lare all Indebtedness secured by th�s Deed of Trust t❑ be due and payable and
<br /> the same shall thereupon become due and payable withau�any pr�sentment, demand, protest ar natice of any
<br /> kind. Thereafter, Lender may:
<br /> �a} Either in person or by agent, with or without bring�ng any actian vr proceeding, or t�y a recei�er
<br /> appaint�d by a court and without regard to the adequacy o�its security, enter upan and �ake possession
<br /> vf the Property, or any par�thereaf, in its own name or in �the name o�Trus�ee, and do any acts which it
<br /> deems necessary or desirable�o preser���he �alue, marketabili�y or rentability a�the Prope�ty, or par�of
<br /> the Property vr interest in the Property; in�rease the incame from �the Praperty or pro�ect�he security o�
<br /> the Property; and, wi�h ❑r withvut taking possessivn of the Property, sue for �r vtherwise cvllect �h�
<br /> rents, �ssues and profi�s o�the Property, including those pas�t due and unpaid, and apply the same, less
<br /> costs and expenses of op�ration and �o��ection attorneys' fees, to any indebt�dn�ss secur�d hy this D�ed
<br /> of Trust, all in such order as Lender may determ�ne. The entering upan and taking possession of �he
<br /> Property, the callec�ivn of such rents, issues and prafits, and the applicat�an thereof shall no� cure or
<br /> wai�e any de�ault or natice �f de�auft under this Deed of Trust or in�alidate any ac�done in respvnse ta
<br /> such default or pursuant to su�h n�tice af default; and, n�twithstanding the �ontinuance in pvssessi�n nf
<br /> the Prvperty or the c�llection, �eceipt and applicat�on of rents, issues or pro�its, Trustee o� Lender shall
<br /> b� entitled to exer�ise e�ery right provided �or in �he Nv�e or the Rela�ed Documents or by law upon �he
<br /> vccurrence��any e�ent❑f default, �n�luding the �ighfi�o exerc€se the power o�sale;
<br /> {b� Cvmm�n�� an action t❑�ore�lose this Deed o�Trus�as a mortgage, appoint a re�ei�er or speci��cally
<br /> en�orce any o#the ca�enants herea�; and
<br /> {c� Deli��r t❑Trustee a writ�en declaration vf de�ault and demand for sal� and a written nv�ice of de�ault
<br /> and elec�ion�o cause T�ustar's interest in the Property to be sold, which notice Trustee shall cause�o be
<br /> du�y �Filed for record in the apprvpriate offices�f th� Cvun�y in which�he Prop��ty is located; and
<br /> �d} Wi�h r�s�aect to all or any part of the Persvnal Property, Lender shall ha�e all the rights and remedies
<br /> af a secured par�y under the Nebraska Uniform Commercial Code.
<br /> Fore�losure by Power af Sale. If Lender elec�s to f�reclvse hy exercise of�he Power of Sal� h�rein contained,
<br /> Lender shall noti�y Trus�ee and shall deposit with Trustee this Deed af Trust and the Nvte and such receipts
<br /> and e�idence o�expenditures made and se�ured by this Deed of Trust as Trustee may require.
<br /> �a3 lJpon receip�of su�h noti�e f�om Lender, Trustee shalE �ause to be reCvrded, pu�l�shed and d�li�ered
<br /> �o Trustor such Notice ❑f De�au�t and Notice of Sale as then required by law and by this Deed a�Trus�.
<br /> Truste� shail, without demand on Trus�or, a�ter such time as may then be required by law and after
<br /> recardatian of such Notice of De�au�t and aft�r Notice of 5ale ha�ing �een gi�en as required by law, sell
<br /> the Property a�k the time and place ❑f sale fixed by €� in such Na�i�e o� Sale, �ither as a whofe, or in
<br /> separate lots ar parcels �r items as Trus�ee sha�� deem �xped�ent, and in such order as it may determine,
<br /> at public au��ion ta the highest bidder �or cash in lawful money ❑f the Un�ted 5�at�s payable at the tim�
<br /> of sale. Trustee shall deli�er t� such purchaser or purchasers therevf its govd and suffi�ient deed or
<br /> deeds cvn�eying th� pr�perty sv so�d, bu� without any co�enant or warranty, express vr implied. The
<br /> recitals in su�h deed ofi any matters or faG�s shal� be cvnclusi�� proof of �he tru�hfulness thereo€. Any
<br /> persan, including wi�hout limita�ivn Trustor, Trust�e, vr Lender, may pur�hase at su�h sale.
<br /> �b� As may be permi�ted by law, after deduc�ing a!i cos�s, fees and expenses of Trustee and af �his
<br /> Trust, in�luding costs of e�idence❑f�title in�onnection with sale, Trustee shal[ apply the proceeds of sale
<br /> to payment of ��} all sums expended unde�the�erms o�this Deed��Trust or under the te�ms af the Nate
<br /> n�t then repaid, including but no� limited �o accru�d interes� and late charges, �ii� all ❑ther sums then
<br /> secured hereby, and �iiiy the �emainder, ��any, t❑the p�rson or persons legal(y entitled the�etv.
<br /> �c� Trustee may in the mann��pro�ided by law postpvne sale of all or any port�on of�he Property.
<br /> Remed�es No� Exc[usive, Trustee and Lender, and ea�h of them, shall be entitled to �nforce paymen� and
<br /> per�ormance of any indebtedness or obligatians secured �y this Deed o�Trust and ta exercise ai1 rights and powers
<br /> under this Deed of Trust, under �he Note, under any of the Rela�ed Documen�s, o� under any other agreement or
<br /> any laws n�w or hereafter in �orce; notwithstanding, some or all of such indeb�edness and obligations s�cured by
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