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2� 1 ��41 ��
<br /> DEED �F TRLJST
<br /> ��arltinued� Page 5
<br /> Paymenfi❑e#ault. Borrower fails�a make any payment when due under�he Indebtedness.
<br /> �ther De�auits. Borrower �r Trustor fa�ls tv ��mpfy with or to perform any other �erm, o�ligation, co�enant ar
<br /> condi�ion con�ained in this D�ed of Trust or in any o�the Related Documents or to comp[y with or to perfvrm any
<br /> term, abligation, co�enan��r cflndi�ion contained in any vther agreemen�between Lender and gvrrower o�Trus�or.
<br /> Campliance ❑e�Fau�t. Failure ta comply with any other term, ab�igativn, co�enant ❑r condition conta�ned in �his
<br /> Deed of Trust, �he Note or in any of the R�lated Documents.
<br /> Detault on Dther Payments. Failure ❑�Trus�or v►rithin the time required by th�s Deed ❑f Trust to mak� any payment
<br /> fvr taxes or insurance, or any o�her paymen�necessary�o pre�ent#iling of or to effect discharge of any fien.
<br /> De�ault in Fa�or of Third Parties. Should Borrower or any G�antor defau�t under any �oan, extens�on af credi�,
<br /> security agreement, purchase or sal�s agreement, �r any other a�reement, �n fa�ar of any vth�r creditor or persvn
<br /> tha� may materially af�ect any o� Borrorrver's or any Grantor`s property ❑r S�rrauve�'s ability to �epay the
<br /> {ndebtedness or Barrower's vr Grantor's ability to perform their respe�ti�e ohliga�ions under�his ❑eed ❑f Trus� or
<br /> any a�F the Related Documents.
<br /> Fa1se Statements, Any warranty, representation or s�atement made or�urnished ta Lender by gorrower or Trustor
<br /> flr on Borrower's or Trustor's b�half und�r this Deed of Trusr ar th� Related Documents is false or mislead�ng in
<br /> any ma�eria( respect, either now or a� the time made or furnished or becomes �alse ❑r mis�eading at any time
<br /> thereafter.
<br /> Defecti�e Colla�era[izativn. This De�d ❑f Trust or any ofi the R�lat�d Do�uments ceases �o be in full force and
<br /> e�#ec� 4in�#uding fa��ure of any collatera! document to create a �al�d and perfected security interes� or I�en} at any
<br /> time and �or any reason.
<br /> Insolven�y. The d'€ssolu�ion or terminat�on of the Trust, the inso���n�y of gorrower or Trustar, the appointment of
<br /> a recei�er�or any part of 6orrower's or Trustor's property, any assignment for the bene�it o�creditors, any type o�
<br /> credi�or workout, ❑r the commencement of any praceeding under any bankruptcy or inso��ency laws by or against
<br /> �3vrrower or Trustor.
<br /> Creditvr or Fvrfeiture Prviceedings. Commencement ❑f forecIosure or fo��e�ture proceedings, whether hy �udi�ial
<br /> pra�eeding, s�l�--help, repassession or any other me�hvd, by any cr�ditor of Borrower or Trustor or �y any
<br /> go�ernmental agency against any property s�curing the indet�tedness. This includes a garnishment of any o�
<br /> Borrawer's or Trustvr's accounts, �nciuding depasit accounts, with L�nder. Howe�er, this E�ent o� Default sha�i
<br /> not apply if there is a good �aith dispute hy Borrower or T�ustvr as t� �h� �alidity or reasonablen�ss of the ��a�m
<br /> wh�ch �s the �asis of�he credito�or�arfeiture pro�eeding and if Borrower or Trustar gi�es Lend�r wri��en notice of
<br /> the creditor or forfeiture pr�ceeding and deposits with �ender monies or a sur�ty bond �ar the credi�or or forfieiture
<br /> proceeding, in an amvun�determined by Lender, in its sole discret€on, as being an adequat� reser�e or k�and for the
<br /> dispu�e.
<br /> Breach of Dth�r Agreement. Any �reach by Bo�rower or Trustor under the�erms af any other agreem�nt between
<br /> Borrower or T�ustor and Lender that is no� remedied with�n any grace period pro�id�d therein, including withaut
<br /> limitation any agreement concerning any ind�btedness or other obligat�on af gorrower or Trustar �o Lender,
<br /> whether existing now ar later,
<br /> E�ents A��e�ting Guarantor. Any of the preceding e�ents accurs w�th respect ta any guarantor, �ndorser, surety,
<br /> or accommvda�ion par�y ❑� any of the Indeb�edness or any guarantor, endarser, surety, or accommodation par�y
<br /> dies or becomes incompetent, or re�flk�s or disputes the validity of, or lia�ility under, any Guaranty of the
<br /> Indebtedness.
<br /> Ad�erse Change. A material ad�erse change occurs in Borrorrver's ar Trustor's �inancial condition, ar Lender
<br /> �e[ie�es�he prospect of payment or performance of the Indebtedness is impaired.
<br /> lnsecu�ity. Lend�r�n gvod fa�th belie��s itseif insecure.
<br /> Right t❑Cure. If any defau�t, ather than a default in paymen�, is curable and if Trustar has nat been gi�en a notice
<br /> �f a br�a�h of the same pro�ision of this ❑eed of Trust wi�hin the preceding tw�{�e �12� months, i�may be cured if
<br /> Trustar, after Lender sends written natic� to Borrower demanding cure �f su�h default: �1� cures the default
<br /> within twenty t2Q� days; or ��y i�the �ure requires more than twenty �2�} days, immed�ately ini�iates steps whi�h
<br /> Lender deems in Lender�5 sole discretion to be suffici�nt to cure the defaul� and thereaft�r continues and
<br /> completes a�� �easonab�e and necsssary s�eps su��icient to p�odu�e compl�ance as so�n as reasonabfy prac�ical.
<br /> RIGHTS AND REMED[ES ❑N DEFAULT. If an E�ent of Defau[t ❑ccurs under�his Deed of Trust, at any �ime therea�te�,
<br /> Truste�or Lender may exercise any one or mvre a#the following rights and remedies:
<br /> Accelerativn Upon Default; Additionat Remedies. If any E�ent o� Default occurs as per the te�ms of the Note
<br /> secur�d hereby, Lender may declare al� Indehtedness secured by this ❑eed af Trust to be due and payabl� and
<br /> the same shaff thereupon become due and payable without any presentmen�, d�mand, pratest or notice of any
<br /> kind. Thereafter, Lender may:
<br /> {a� Ei�her in person or by agent, with or without bringing any ac�ion o� proceeding, or by a recei�er
<br /> appointed hy a cou�t and without regard �o the adequacy o�its security, enter upon and take p�ss�ssion
<br /> a�the Proper�y, ❑r any par�the�eof, in its awn name or in the name a�Trustee, and do any acts which it
<br /> deems necessary or desirable to preser�e the �alue, marketabili�ty or rentabili�y of�he Property, �r part Qf
<br /> the Property or interest �n the Property; increase the income �rom the Prvper�y or pratect�he security ofi
<br /> the Property; and, wi�h or without taking possessian ❑� the Property, sue ��r vr otherwise �allect the
<br /> ren�s, �ssues and profits o€ the Property, �ncluding those past due and unpaid, and apply the same, less
<br /> cos�s and expenses of operatian and ca�lection a�torneys' fees, to any indeb�edness secured by this Deed
<br /> ofi Trust, all in such ord�r as Lender may determine. The entering upon and taking possessian of the
<br /> Property, the �ollec�ion of such �ents, issues and profits, and th� appli�ati�n �hereof shal� not �ure ar
<br /> wai�e any default or notice of default under this ❑eed of Trust or in�alidate any act done in respvnse to
<br /> such default or pursuant t❑ such notice of default; and, no�withstanding the cantinuance in possession o�
<br /> th� P�operty or �he cvll�ct�on, receipt and application ❑f ren�s, issues or pro�its, Trus�ee or Lender shali
<br /> be entitled to exercise e�ery righ� pr���ded �vr in the Note or the Related Documents or by law upvn th�
<br /> occurrence of any e�ent o#default, inc�uding �he right to exercis�the power o�saie;
<br /> �b� Commence an acti�n to foreclose this Deed ❑�Trust as a mortgage, appoint a recei�er o�specifically
<br /> enforGe any ofi the co�enants here��; and
<br /> ��� Deli�er to Trustee a written declara�ion af defau�t and demand#vr sale and a writ�en notice of default
<br /> and ele��i�n to cause Trustor's �nterest in the Property to �e sold, which notice Trustee shai� cause to be
<br /> duiy �iled f�r recard in the appropriate offiices of the Coun�y in which�he Praperfiy is located; and
<br /> 4d� With respect t❑ all vr any part of the Personal Property, Lender shall ha�e a!i the rights and remedies
<br /> of a se�ured pa�ty under the Nebraska Uni�orm Commercial Code.
<br /> For�closure by Pvwer of 5ale. I'� Lender ele�ts to foreclose by exercis�o�the Pawer a�Sale herein contained,
<br /> Lender sha[[ noti�y Trustee and sha�� deposi� with Trus�ee this Deed of Trust and �he Note and such receip�s
<br /> and e�idence o�expend�tures made and secured by this Deed❑�Trus�as Trustee may require.
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