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2� 1 ��4�98
<br /> DEED �F TRUST
<br /> �Continued� Page 5
<br /> either nouv or at the time made or furn�shed �r becames false or misleading a�any time therea�ter.
<br /> Defecti�e Collateraliza�ion. This Deed of Trust or any flf �he Rela�ed Documents ceases �o be in �ull farce and
<br /> effec� �including failure ❑f any collate�af docum�nt to create a �alid and perfected security interes� or 1i�n} at any
<br /> time and �or any reason.
<br /> ❑eath vr �nso��ency. The dissoluti�n of Trustor's �regardfess of whether electinn tv cont�nue is made}, any
<br /> member withdraws from the limited �iahili�y company, or any other terminativn o� Trus�or's existence as a going
<br /> business or �he dea�h af any meml�er, the inso�ven�y af T�ustar, the appoin�ment of a r�cei�er for any par� of
<br /> Trus��r's property, any assignmsnt fvr the benefit v� creditors, any type of creditvr workout, or th�
<br /> commencement o#any p�oce�ding under any bankruptcy or insol�ency �aws �y❑r against Trustor.
<br /> Creditvr ar Fvrfeiture Proceed�ngs. Cammencemen� ofi foreclosure ar ��rfieiture proceedings, whether hy judicial
<br /> proceeding, self-help, �epassession ar any oth�r method, by any creditor of Trustor ar by any go�ernm�ntal agency
<br /> against any property securing the �ndebtedness. This includes a garnishment v� any of Trustor's accounts,
<br /> including deposit accounts, with Lender. Howe�er, this E�ent of Default shall not apply if there is a good fai�h
<br /> dispute by Trust�r as to th� �alidity or reasonab(eness ❑f the claim which is the basis of the creditor or fa�feiture
<br /> prv�eeding and i� Trus�or gi�es Lender wri�ten notice of the credi�or ar forfeiture proceeding and deposits wi�h
<br /> L�nder monies or a surety bond �or the �redi�or v�farfei�ure proceeding, in an amount determined by Lend�r, in i�s
<br /> soie discretivn, as �eing an adequate reserve or hond for�he dispute.
<br /> 6rea�h of Other Agreemen#. Any breach by Trustar under the terms of any o�her agreement �etween Trustor and
<br /> Lender �hat is not remedied within any grace perivd pro�ided ther�in, including without limitation any agreement
<br /> con�erning any indebtedness or other abligatian of Trusfior to Lender, whether existing nvw or#ater.
<br /> E�ents A�fe�ting Guarantvr. Any of th� preceding events o��urs with �espe�t to any Guarantor o# any vf the
<br /> Indehtedness or any Guarantor dies ar becomes incampetent, Qr re�akes or dispu�es the �alidity o#, or �iabifity
<br /> under, any Guaranty❑��the lndebtedness.
<br /> Ad�erse �hange. A ma�erial ad�erse change �CCUt'S in Trustor's finan�ia� condi�ion, or Lender ��lie�es the
<br /> prospec�o€payment�r performance of th� Indeb�edness is impaired.
<br /> lnsecurity. Lender€n good fa�th belie�es itself insecu�e.
<br /> R�ght#v Cure. If any default, other than a default in payment, is curable and i�Trustor has not b�en gi�en a not�ce
<br /> of a br�ach vf the same pro�ision of this Deed ❑f Trust within the preceding twel�� {12} months, it may b� curec! if
<br /> Trustor, a�f�er Lender s�nds written notice to Trustvr demanding �ure o�such defau�t: �1� curss the defau�t within
<br /> twenty ���y days; or ��} if the cure requires more than twenty 4��} days, immedia�ely initia�es steps which
<br /> Lender deems in Lender's sole discretion to be sufficient �o cure the default and ther�after continues and
<br /> completes a!� reas�nahle and ne�essary steps sufficient to produce compliance as soon as reasonably prac�i�al.
<br /> R[GHTS AND REMEDIES �N ❑EFAULT. If an E��n� of De�aul�accurs under th�s �eed of Trust, a� any time thereafter,
<br /> Trustee or Lender may exercise any one ar mare of the�ollowing rights and r�medies:
<br /> Ac�elera�ivn Upon Default; Additional Remedies. lf any E�ent of De�ault ��curs as per th� terms af the Nate
<br /> secured hereby, Lender may d�clare all Indebtedness secured by this De�d of Trust to be due and payab�e and
<br /> the same sha�l thereupon become due and payable without any presentmen�, demand, pratest or notice of any
<br /> kind. Ther�a��er, Lend�r may:
<br /> �a� E€th�r in person vr by agen�, with ❑r wi�hout bringing any ac�ian or proceeding, or by a recei�er
<br /> appointed by a caur� and without regard t❑ the adequacy of its security, enter upon and take possession
<br /> af the Praperty, or any pa�t thereo�, in its ovun name or in the name af Trustee, and do any acts which it
<br /> d��ms necessary or desirable t� preser�e the �alue, marketability or rentabili�y a�F the Property, or part o�
<br /> the Property or in�erest in the Praperty; �ncrease the incom� �rom th� Proper�y or protect�he s�curity a�
<br /> the Property; and, with or without taking passession a� the Pr�pe�tyr 5Ll� for or vtherwise �ollect the
<br /> r�nts, issues and profits of the Proper�y, including �hose pas� due and unpaid, and apply the same, less
<br /> costs and expenses ofi operation and caffect�an a�torneys� �eES� to any indebtedness se�ured by�his Deed
<br /> of Trust, all in such order as Lender may determine. The entering upon and �aking passession o� the
<br /> Property, the colle�tion of such ren�s, issues and pro�its, and the applicatian �hereaf sha�l not cu�e ar
<br /> wai�e any default ❑r noti�e ❑f defaul� und�r this D��d of Trust or in�alida�e any ac�done in response to
<br /> such de�ault❑r pu�suan��o su�h no�i��o�d�faul�; and, notwithstanding�he c�ntinuance in pvssess�on of
<br /> the Property or �he callection, receipt and applicati�n of rents, issues ar profits, Trustee or Lend�r shall
<br /> f�e ent��fed to exerGise e�ery righ# pro�ided far in the Note or�he Related Do�uments ar by law upon the
<br /> occurrence o�any e��nt�f d�fault, including the righ��o exercise�he power of sale,•
<br /> {b} Commence an act�on to�orec�ose this Deed of Trust as a mortgage, appoint a re�ei�er o�specifically
<br /> enforce any of the �o�enan�s her�of; and
<br /> �c� Deli�er t❑Trustee a wri�ten de�laration o�default and demand far sale and a wri��en notice vfi defau�t
<br /> and �lecti�n to cause Trustor's interes�in the Proper�y�o be sold, which notice Trustee shall cause to b�
<br /> duly filed for record '€n the appropriate o�fices of the County in which the Praperty is lo�at�d; and
<br /> 4d} Wi�h respec�to a�l ar any part of the Personal Property, Lender shall ha�e a�� the rights and remedies
<br /> o�a se�ured party under the Neb�aska Unifa�m Commercia! Gode.
<br /> Farec[osure by Power of 5ale. If Lender elec�s to �oreclose by exer�ise of the Pvwer of Sale here�n con�ained,
<br /> Lender shall notify Trustee and shall deposi� with Trustee this D��d of Trust and �he Note and such receipts
<br /> and e��den�e of expenditures made and se�ured by this Deed o�Trust as Trustee may require.
<br /> �a� �pon r�ceipt of such no�i�e firom Lender, Trustee shall cause to be recorded, published and deli�ered
<br /> to Trus�or such Notic� of Default and No�ice o� Sale as then required �y �aw and by this De�d vf Trust.
<br /> Trustee sha�l, without demand ❑n Trus�or, a�ter such time as may rhen be requ�red by law and after
<br /> recordation o�such No�kice of ❑e�ault and afte� Natice of 5a�e ha�ing �een gi�en as required by law, sel�
<br /> �he Property at the �€me and place of sale fixed by it in such Notice of Sale, either as a whole, or in
<br /> separa�e lats vr par�els or€�ems as Trus�ee shall deem expedien�, and in such order as €�may determine,
<br /> at puhlic auction to the highest b�dder �or cash in tawful maney of the United States payahle at the time
<br /> of sale. Trustee shali deli�er to such purchas�r or purchase�s thereof its good and suffi�ient deed or
<br /> deeds con�ey�ng the pr�p�rty so so�d, bu� without any co�enant or war�anty, �xpress or impli�d. The
<br /> �ecitals in such deed af any ma��ers or fa�ts shal[ be conclusi�e proof of the truthfuiness there�f. Any
<br /> person, in�luding wi�hout limitation Trustor, Trustee, or Lender, may purchase at such saie.
<br /> �b} As may be permi�ted by law, a�ter deducting a�1 cvs�s, fees and exp�nses of Trustee and o� this
<br /> Trust, including costs v�e�idence o�title in connection with sale, Trustee shaii apply the proceeds o�sale
<br /> t❑ paymen�of 4i} all sums expended under the terms of this D�ed of Trust nr under the t�rms of the Note
<br /> not �hen repaid, including but not lim�ted to a�cru�d interest and [a�e charges, �iiy af! other sums �hen
<br /> s�cured hereby, and {iiiy the remainder, if any, to the persvn or persvns legally en'titled thereto.
<br /> �c� Trustee may in the manner pro�id�d by law postpane sale❑f a!I ❑r any portivn ofi�the P�vperty.
<br /> Remedies Not Exclusi�e. Trustee and Lender, and each �� them, sha�l he en�itled to enfiorce payment and
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