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2� 1 ��5474
<br /> DEED �F TRUST
<br /> �Continued� Page 5
<br /> effect �including fa�lure of any Collateral documgnt to �rea#e a �alid and pe�#ected security interest or lienf at any
<br /> time and fvr any reason.
<br /> Death or Insol�ency. The death of Trustor, the insol�$ncy vf Trust�r, the appointment of a recei�er for any part of
<br /> Trustor`s prope�ty. any assignment for the bene#it of creditors, any type of credi�or warkvut, or the
<br /> commencement of any proceeding under any hankruptcy ar insol�ency laws hy or against Trustvr.
<br /> Gred�tor �r For#eiture Proceedings. �ammencement of fore�losure or fvrf�itur� p�oceedings, whether by judicial
<br /> praceeding, self-help, repossessivn vr any other method, by any creditor of Trustor or hy any go�ernm�nt�l agen�y
<br /> against any property securing the Indehtedness. This includes a garnishment o# any of Trustor's accvunts,
<br /> inciuding depvsit accounts, with Lender. Hawe�er, this E�ent o# �efault sha�l not apply if there �s a goad faith
<br /> dispute by Trustor as to the �alidity or reasonah�eness vf the claim which is the hasis of the creditor or forfeiture
<br /> proceeding and if Trustvr gi�es Lender written natice of the creditvr or forfeiture proc�eding and deposits with
<br /> Lender mvnies or a surety bond f�r the creditor or farfe�ture proceeding, �n an amount dgtermined by Lender;'in its
<br /> sole discretion, as being an adequate reser�e or hond for�he dispute.
<br /> Breach of�ther Agraament. Any breach by Trustor under the terms o#any other agreement hetwe�n Trustar and
<br /> Lender that is not remedied within any grace periad pro�ided therein, including without limitativn any agreement
<br /> concerning any indehtedness or other obligation of Trustor to Lend�r, whethsr existing now or lat�r.
<br /> E�ents Affe�ting Guar�ntor. Any of the preceding e�ents occurs with respect to any guaranto�� end�rser, surety,
<br /> or accommvdation party of any af the Indebtedness ar any guarantor, endo�ser, surety, or ac�ommodation party
<br /> dies or becames incampetent. o� re�okes ❑r disputes the �alidity vf, or iiabi�ity under, any Guaranty of the
<br /> I ndebted ness.
<br /> Adverse Chan9a. A materiaf ad�erse change v��urs in Trustor's financial condition, ar Lender beiie�es the
<br /> prospeGt vf payment ar per#orman�e of the Indebtedn�ss is impaired,
<br /> �nsecurity. Lender in good faith belie�es i#self�nsecure.
<br /> Right to Curs. I�any default, other than a default in payment, is curah�e and if Trustor hes nat been gi�en a notice
<br /> of a hreach of the same pro�isi�n vf this Desd of Trust within the preceding twel�e ��2y months, it may be cured if
<br /> T�ustar, after Lender sends written noti�e to Trustor d�manding cure of such default: �1 f cures the default within
<br /> twenty ���f days; or �2f if the cure requires more than #wenty �2�y days. immediately inttiates st�ps which
<br /> Lender deerris in Lender's sole discretion to be suffic�ent t� cure the default and thereafter continues and
<br /> cvmpletes a!I reasonahle and necessary steps su�#icient to produce compliance as sovn as reasonably pra�tical.
<br /> RIGHTS AND REMEDIES �N aEFAULT. �f an E�ent of Default occurs under this Deed of Trust� at any time therea#ter,
<br /> Trustee ar Lender may exercise any one or mare of the foi�owing rights and remedies:
<br /> Acceleratian Upvn Defaul�; Additional Ramediss. If any E►►ent of❑e#ault occurs as per the terms ❑f the Note
<br /> secured herehy, Lender may declare all Indehtedness se�ured by this Deed of T�ust to he due and payable and
<br /> the same sha!!#h�reupan become due and payable wi#hout any presentment,demand, protest or notice af any
<br /> kind. Thereafter, Lender may:
<br /> �ay Either in psrsvn or by agent, with or wEthout bringing any ection or proceeding, or by a recei�er
<br /> appointed by a cour#and without regard t❑the adequacy of its s�cu�ity, entsr upon and take possession
<br /> of the Property, or any part thereof, in its own name or in#he name af Trustee, and do �ny acts which it
<br /> deems �ecessary or desirable to preser�e the�a1ue, marketahi�ity or rentability of the Prope�ty. or part of
<br /> the Property or interest in the Property; increase the incvme frvm the Property or prat�ct the se�urity of
<br /> the Property; and, with vr without taking pass8ssi�n of the Property, 5u� fvr or otherwise collect the
<br /> rents, issues and profits of the Property� including thvse past due and unpaid. and appiy the same, less
<br /> casts and expgnses vf operatian and�vlle�tian attorneys' fees, to any indebtedness sscured by this Deed
<br /> of Trust, all in such order as Lender may determine. The entering upon and taking passession of the
<br /> Propgrty, the �o!lection af su�h rents, issues and profi#s� and the app�ica#ion thereaf shall n�t cure or
<br /> wai�e any de#au�t or notice of default under#his Deed❑f Trust or in�alidste any act done 'rn respvnse to
<br /> such defau�t or pursuant ta such nvtice of default; and, notwithstanding the cvntinuance in possessinn of
<br /> ihe Property or the �o�le�tivn. receip� and appli��tion of rents, issues or profits, Trustee or Lender shall
<br /> be entitled #o exercise e�ery right pro�ided fior in #he Note or the Related Documents or by law upan the
<br /> occurrsnce of any e�ent o�default, including the right to exer�ise the pvwer af sale;
<br /> �bf Cammence an�ction to forec�ose#his aeed vf Trust as a mortgage, appvint� recei��r or specifically
<br /> en#orce any of the co�enants hereo�; and
<br /> �c� ❑eii�er to Trustee a writ#en declaration of default and demand for sale and a writ#en notice af defau�t
<br /> and election to cause Trustor`s interest in the Property to be sold, whi�h notice Trustee shall cause to be
<br /> du�y filed for recvrd in the appropria�e offi�es of the County in whi�h the Property is Ivc�ted; and
<br /> �df Wi#h respe�t to all or any part❑f the Personal Property. Lender shall ha�e all the rights and remedies
<br /> vf a secured party under the Nebraska Unifvrm Cvmmer�ial Code.
<br /> Fareclosure by Power vf 5ale. If Lender eiects to foreclvse by exercise of the P�wer o�Saie herein cvntained,
<br /> Lender shai� natify Trustee and shall depasi# with Trustee this Deed of Trust and the Note and such receip#s
<br /> and��idence of expenditures made and secured by this Deed of Trust as Trustee may require.
<br /> �aj Upon receipt of such natice from Lender, Trustee sha�l cause ta be recorded, published and deli�ar�d
<br /> t❑Trustar such Notice vf Default and Natice vf Safe as then requif�d hy law and by this ❑eed of Trust.
<br /> Trustee sha��, withvut demand �n Trust�r. after such time as may then be r�quired by law and after
<br /> re�ordativn of su�h Notice of Default and after Notic� of Saie ha�ing begn gi►►en as rsquired hy law. sell
<br /> the Property at the t�me and place �f sale fixed hy it in such Nvtic� of 5ale, either as a whole, ar in
<br /> separate lots ar parce�s or items as Trustee shall deem expedient, and in such order as it may d�tsrmine�
<br /> at pub�ic auction to the highest bidder fvr�ash in law�ul maney of the United 5tates paya�le at the tim�
<br /> of sal�. Trustee shalf deli�er to su�h purchassr or purchasers thereof its gvod and sufficient deed or
<br /> deeds con�eying the praperty so sold, but without any �o�enant or w�rranty. express or implied. The
<br /> recitals in such deed af any matters or facts shal� he conc�usi�e praof of the truthfu�ness thereof. Any
<br /> pers�n. including withvut iimi#ation Trustor.Trus�ee, or Lender. may purchase�t such sale.
<br /> �bj As may be permitted by law. after deducting a�l costs, #ees end expenses of Trustee and of this
<br /> Trust, including cvsts❑f e�idence of ti#le in connection with saie,Trustee sha11 apply�he pro�eeds of sele
<br /> to payment vf �iy all sums expended under the terms of this Deed of Trust or under the terms of ths Not�
<br /> not then repaid, including but nvt limited tv accrued interest and late charges, �ii} all other sums th�n
<br /> secured herehy� and {iii�the remainder� if any, to the person or persons leg�!!y entitlsd thereto.
<br /> �cy Trustee m�y in the manner pro►►ided hy��w pQstpone sale of a11 or any portion af�he Property.
<br /> Remedies Not Exclusi�e. Trustee and Lender� and ee�h of them. shal� be entitled to enforce payment and
<br /> pertormancg of any ind�htedngss or vbligativns secured by this Deed of Trus�and to exercise all rights and p�w�rs
<br /> under this Deed of Trust, under the Not�, under any of the Related Documen#s, or under any other agreement or
<br /> any laws now or hereafter in #orce; notwithstanding, some❑r all of such indeb#edness and obligations secured by
<br /> this Deed ❑f Trust may naw vr h�r�after be otherwise secured, whether hy mvrtgage, deed af trus�, pl�dge. fien.
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