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2� 1 ��5�7�
<br /> DEED �F TF�UST
<br /> Lvan No; 1 Q7�97'I g� {Continued� Page 3
<br /> Property or to comp[y wEth any ob[igation to main�ain Exist�ng fndsb�edness in good s�anding as required below. �hen
<br /> Lender may dv so. If any actian or p�-oceeding is commen�ed that would ma�eriaE[y affect Lender's interests in the
<br /> Proper�y, then Lender on Trustvr's behaifi may, but is not required tv, �ake any a�tion �ha� Lende� beli�ves ta be
<br /> appr�priate ta protect Lender's interests. AI! expenses En�urred or paid by Lend�r for such purpvses wiEl then bear
<br /> inte�es� at the ra�e charged under �he Credit Agre�men�t from the date �ncurred or paid by Lender �a the date o�
<br /> repayment by Tru$�or. Aif such expenses will become a part af�he ]ndebtedness and, a� Lende�'s ap�ion, will �A} be
<br /> payabie on demand� �B} be add�d ta the balan�e ❑#the Credi�Agreem�nt and be appartianed amang and b� payab�e
<br /> wi�h any�nsta��men�t payments tfl bscome due du��ng et�th�r t�3 the te�m of an�applicab�e insurance po�icy;o� t�} �he
<br /> remaining term of the Credit Ag�eemen�; or 4C} be�reated as a ba[ioan payment which will be due and payab[e at the
<br /> Credit Agreement's maturi�y.
<br /> WARRANTY; DEFENSE�F T�TLE. The fv[[owing proWisions refafiing to own�rship o�the Property are a par�of�his De�d
<br /> ❑f Trust:
<br /> Titie. Trustor warran�s that: {ay Trustvr holds good and marketabie titie o� re�vrd �o the Prvperty in fee simpE��
<br /> �ree and clear �� a[i iiens and enGumbrances ather than �hose set farth in the ReaE Praperty desc��ption ❑r in the
<br /> Existing lndeb�edness section belvw or in any title insuran�e pvlicy, title repvrt, ❑r final t�tle opin�vn issued in�a�or
<br /> o�, and accep�ed by, Lender in connectian wifih this Deed of Trus�, and {b} Trustor has the �ull righ�, power, and
<br /> au�hority to execu�e and deliWer this I]eed of Trust to Lender.
<br /> De�ense o�Ti#le. Subject to the e�€ceptian in the paragraph abo�e, Trustar warrants and wiii #ore�er de�end the
<br /> ���le�❑the Prope�ty againsfi�he [aw�ul ciaims of afi persons.
<br /> E�CISTING INDEBTE�NESS. The fo[[vwing pro�isians concerning Exist�ng Indebtedness are a part o��his Deed o�Trust:
<br /> Fxisting Lien. `�he 3�en o� �his Deed o'F Trust securing �he Indeb�edness may be se�ondary and inferior to an
<br /> ex�sting lien. Trus�ar expressiy ca�enants and agrees to pay, or see�o the payment o�, the Existing Indeb�edness
<br /> and ta prE�ent any defau[t vn such Endebtedness, any defaul�under the instruments e�idencing such indehtedness,
<br /> or any de�ault under any security documents�vr such indebtedness.
<br /> EVENTS �F DEFAULT. Trus�v�wi!! be in defauEt under�his Deed flf Trust if any a��he f�llowing happen: �A} Trustvr
<br /> eommits ��aud ar makes a material m�srepresentation a� any tim� in c�nnec�ion wi�h �he Credit Agreement. This can
<br /> include, for examp[e� a �alse statement about Trus�or's incvme, assets, iiabili�ies, or any a�her aspects o� Trus�or's
<br /> ��nanc3al condition. tB� Trustnr does no�meet the repayment�erms a��he �redit Agreement. {C} Trustar's acfiion ar
<br /> inaction adversely aftects the �v11a��ra[ ❑r Lender's rights in �he cv��ateral. This �an inc�ude, �or exampfe, �ailure tv
<br /> main�ain requ�red insurance, waste vr dest�uc�i�e use��F the dv►reliing,�ailure tv pay taxes, d�a�h v�all persons liable on
<br /> �he account, �ransfer o� �i�ie v�' sa�e of �he dwefling, �reatian of a senivr fien on �he dwefling wi�hflu� Lender's
<br /> permission,�oreclosure by the ho�der a�another Iien, or the use❑f-�unds flr�he dwelling�or prohibited purposes.
<br /> RIGHTS AND REMEDIES �N ❑EFAULT. Upvn the o�currence of any E�ent flf De�ault under any indeb�edness, ❑r
<br /> shouId Trustar�ail ta �ompiy with any of Trus�ar's obiigat�ans under�his Deed vf Trust, Trus�ee ❑r Lender may exercEse
<br /> any one ar ma��of�he#vRlowing rtghts and remedies:
<br /> Ac�eleration Upon De�auIt;Additional Remedies. If any E�sn�❑f De�ault accurs as per�he terms❑t�he Credit
<br /> Agreemen�secured hereby, Lender may declare a[� �ndebtedness secured by thEs Deed v�Trust to be due and
<br /> payabie and the same shall thereupon become due and payable ►nrithvu�any presentment, demand. protest or
<br /> no�ice v�any [�ind. Thereafter, Lender may:
<br /> �a} Ei�her in person ar by agen�, with ❑r withou� bringing any ac�ivn or pr�ceeding, ar by a re�eiver
<br /> appainted hy a cvur�and withaut�egard�o the adequacy❑f��s security, enter upon and take pa�sessian
<br /> of the Property, or any part�hereof, in its own name❑�in the name v�Trustse, and dv any acts which it
<br /> deems necessary or desirable�v preserWe�he �alue, marketabi�i�y vr rentab�li�y of the Prvperty, vr part of
<br /> �he Property or interest in the Proper�y; increase the income �rvm �he Proper�y or prvtect the security ❑�
<br /> �he Proper�y; and, with o� withvut tak�ng pvssession o� the Property, sue fior o� o�herwise caifect the
<br /> rents, issu�s and p�o�its a��he Property, including thase past due and unpaid, and appiy�he same, iess
<br /> costs and expenses af operatifln and Gollectian atto�neys' �ees,�o any indebtedness se�ured by�his Deed
<br /> a� Trust, a[f in such ❑rder as Lender may determine. The entering upon and �aking passession �� the
<br /> Proper�y, the callectian vf such ren�ts. issues and pra�i�s, and fihe app�ication thereaf shall not �ure or
<br /> wai�� any default or no�ice ❑�defau[t under this Deed ❑f Trust or in�alidate any ac�done in response tv
<br /> such de�aul�or pursuan�to such notice vf defau[t; and, nv�withstanding�he cvntinuance in possession�f
<br /> the Property or the caflection, receipt and app�ica�ion of rents, issues vr pro�its� Trus�ee or Lender shall
<br /> be entit�ed to exerc�se e�ery righ� pra�ided �or in �he �redit Agreement vr the Re�ated Documents vr �y
<br /> �aw upon the o�cur�ence of any event❑f defau�t. inc�uding the righ�to exercis�the power o�sale;
<br /> tb} Commence an actian�o�vreclase this Deed o�Trust as a mortgage, appvin�a receiver or speci�ically
<br /> enfar�e any af-�he co�enan�s herev�; and
<br /> tc} Deli�er ta Trustee a wri�ten dec[aration o�defauft and demand-�or sale and a►nrrit�en notice❑�d�#ault
<br /> and eiection tv cause Trus�or's in�erest in-�he Prvperty t❑ be sv�d, which not�ce Trustee shal! cause tv be
<br /> duly�iied�or record in�he apprapria�e vf�ices vf the Cvunty in which the Prflper�y is [acated; and
<br /> �d} Wi�h respect�o a1� or any part vf the Personai Property, Lender shafi ha�e al[�he ri�hts and remedies
<br /> a�a secured party under the Nebraska L]ni�orm Commer��ai Cvde.
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