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2� 1 ��� 1 �9
<br /> DEEa �F TRUST
<br /> ��ontinued� Page 5
<br /> Defe�ti�a Gollateralization. This Deed of Trust or any af the Relatgd Do�umen#s ceases t� be in full #orce and
<br /> effect �inc�uding failure of any collateraf dacument ta create a ►►aiid and perfeGted security interest or lienj at any
<br /> time and far any reason.
<br /> Death vr Insol�ency. The dissoiutivn of Trustor's �regard�ess of whether ele�tivn tv cvntinue is madey, any
<br /> member withdraws fr�m the limi�ed liab�lity �vmpany. or any other termination o#Trustor's existence as a going
<br /> husinsss or the death o� any memher� the ins�l�ency of Trustar� #he appvintment ❑f a re�ei��r �o� any part of
<br /> Trustor's property, any assignment for the henefit ❑f creditors. any type ❑f credit�r workout, or the
<br /> commencement af any proceeding under any bankruptcy or insof�ency laws hy ar against Trustor.
<br /> Cr�ditor vr Forfe�ture Pro�esdin9s. Commencement �f foreclosure ar fvrfeitur� proceedings, whether by judicial
<br /> proceeding, self-help, rep�ssessivn or any other method, by any creditor of Trustor ar by any go�ernmental agency
<br /> against any prvperty securing the lndet�tedness. This includes a ga�nishment of any vf Trus#or`s ac�vunts,
<br /> including deposit accounts, wi#h Lender. Howe�er. this E�ent of Default sha11 no� apply if there is a good faith
<br /> dispute by Trustor as to the �a�id�ty or reasonableness of the claim which is the basis of the creditor or fvrfeiture
<br /> prviceeding and if Trustor gi�es Lender written notice o# the cred�tar or #vrfeiture pro�eeding and depasits with
<br /> Lender manies or a surety bond for the creditor or forfeiture proceed�ng, �n an�mount determined by Lender, in its
<br /> sole discretion, as being an adequate rsser�e or bond for the dispute.
<br /> Breach of Qther Agreement. Any hreach by Trustar undsr the terms❑#any other agreement between Trustar and
<br /> Lender that is not remedied within any grace period pra�ided therein, including w�thout limi#ation any agreement
<br /> concsrning any indebtedness or other obligation of Trustor to Lender, whether existing now or�ater.
<br /> E�ants Affecting Guarentor. Any of the preceding eWents vccurs with respect to any guarantor, endarser. surety.
<br /> ar accammodatian pa�ty of any af th� Indebtedness or any guarantor, endarser. sur�ty. or accommadat�an party
<br /> d�es vr be�ames incompetent, or r��akes or disputes the �alidity of, o� liability under, any Guaranty o# the
<br /> indebtedn�ss.
<br /> Adverse Chan�e. A material ad�erse change occurs in Trustor's financial condition, or Lender be�ie�es the
<br /> prospect of payment or perfvrmance�#the Indebtedness is impaired. '
<br /> Insacurity. Lender in g��d faith belie�es�tself insecure.
<br /> Right tv Cure. If any de#ault, other than a defaul�in payment, is curable and if Trustar has not been gi�en a nvtice
<br /> vf a hreach of the same pro�ision o#this �eed of Trust within the preceding twel�e �12y months. it may bs cured if
<br /> Trustor, after Lender sends written notice to Trustor demanding cure of such default: t 1� cures the default within
<br /> twenty (2�y days; or ��� if the cure requires m�re than twenty {�Qj deys, immediately initiates steps which
<br /> Lender deems in Lender's sole discretion tv be sufficient to cure the default and thereafter cvntinues and
<br /> completes all reasonable and necessary steps sufficient ta produce campfian�e as sovn as reasan�bly practical.
<br /> RICHTS AND REMEDIES �N DEFAULT. If an E�ent of Default accurs under this Deed of Trust, at any #ime thereafter�
<br /> Trustee or Lender may exercise any one or mvre vf the following rights and remedies:
<br /> Acceleration Upon DeTault: Additional Remedies. If any E�ent vf Default occurs as per the terms of the Note
<br /> secured her�hy, Lender may declare all Indebtedness se�ured by this Deed of Trust t�be due and payabl�and
<br /> the same shall th�reupon becom�due and payahle without any pressntment, demand, protest or notice of any
<br /> kind. Thereaiter. Lender may:
<br /> tay Either in person or by agent, with or without h�inging any action or prvcgeding, �r by a re�ei�er
<br /> app��nted by � cnurt and without regard to the adequacy o�its security, enter upon and take possession
<br /> v#the Proper�y, ar any part thereof, in ita awn name ar in the name o#Trustee, and do any acts which it
<br /> deems necessary or desirable t� preser�e the�alue. marketability vr rentability of the Prvp�rty, or par#of
<br /> the Prvperty ❑� interest in the Property; in�rease the incame from the Propsr#y or protect the security of
<br /> the Property; and, with or without taking poss�ssion ❑f the Property, sue for or atherwise caffect the
<br /> rents, issues and profits vf th� Proper#y, inciuding those past due and unpaid. and apply the same, less
<br /> costs and�xpenses of operation and co�iecti�n attorneys'fees,to any indsbtedness secured by this Deed
<br /> of Trust, all in such vrder as Lender may determine, Th� entsring upon and taking poss�ssion vf the
<br /> Property, the co��e�tion af such rents, issues and pro�its, and th� app�ication thereof shall not cure or
<br /> wai�e any default or nati�� of default under this �eed of Trust ❑r in�alidate any act dane in resp�nse to
<br /> such default❑r pursuant to such notice ot default; and, notwithstanding the continuance in possessian of
<br /> the Property vr the cvllection, receipt and appli�ation of rents, issues ar prvfits� Trustee ❑r Lender shal!
<br /> b� en�itled to exercise e�ery right pro�ided fvr in the Nvte❑r the Related Dacuments or by iaw upon the
<br /> ❑ccurren�e of any e�ent of default, including the right to�xercise the pow�r of sa�e;
<br /> �by Commen�e an action to f�reclvse this Deed❑f Trust as a mortgage, app�int a recei��r or speci�ically
<br /> enforce any of the co�enants hereo�; and
<br /> tcf Deli��r t❑Trustee a written declaration of default and demand for sale and a written notic�❑f def�ult
<br /> and electian to cause Trustor's interest in the Prvperty to bs sold, whi�h notice Trustee shall cause to be
<br /> duly fil�d for recvrd in the appropriate offices o#the C�unty in which the Pr�perty is Iocated; and
<br /> �dy With respe�t t� a�l or any part of the Personal Property, Lender sha�l ha�e a�i the rights and remedies
<br /> vf a se�ured party under the Nebraska Unifarm Cammerc�al Code.
<br /> Faraclosure by Power af Sale. If Lender ele�ts tv forecfose by exercise vfi the Pnwer o#Sale he�ein contained.
<br /> Lender shall notify Trustee and sha�� d�posit with Trustee this Deed of Trust and the Note and such receipts
<br /> and e�idence�f expenditures made and secured by this Deed of Trust as Trustee may require.
<br /> �af Upon receip#vf such notice from Lender. Trustee shall cause to be recorded. �aublishgd and deii�ered
<br /> to Trustor such Notice of Default and Notice of 5ale as then required by iaw and by this �eed of Trust.
<br /> Trustes shall, without demand vn Trustor, after such time as may then be required by !aw and after
<br /> recordation �#such Natice❑f Default and after Notice of 5ale ha�ing been gi�en as required k�y law, sell
<br /> the Property at the time and place of sale #ixed by it in such Nvt�ce of Sa�e, either as a whole. or in
<br /> separate iots vr parceis or items as Trustee sha�l deem expedient, and in such order as it may determine,
<br /> at puhli� auction tv the highest hidder far cash in lawful money of ths lJnited St�tes payable at the time
<br /> o# sale. Trustee shail deli�er tv such purchaser or purchasers thereaf its good and sufficient deed or
<br /> deeds cvn�eying the prvperty so sold, but withvut any co�enant or warranty, express or implied. The
<br /> recitafs in such deed vf any matters or facts shall be conclusi�e �aroaf v#the truthfulness therevf. Any
<br /> person, including withaut limitation Trustor,Trustee,❑r Lender, may pur�hase at such sale.
<br /> �bf As may be permitted by law, after deducting all casts, fees and expenses of Trustee and of this
<br /> Trust, including costs of e�idence of title in connectivn with sa�e, Trus�ee shall app�y the proceeds of sale
<br /> to paym�nt of �ij all sums expend�d under the terms of this Deed vf Trust or under the terms o#the Note
<br /> nat thsn repaid, including hut not �imited tv accrued interest and iate charges, tiif all other sums then
<br /> secured hereby. and tiii�the remainder. if any, to the person vr persvns legaliy entitled thereto.
<br /> tcy Trustee may in the manner pro��ded by law pvstpone sale of all vr any partion of the Prvperty.
<br /> Remedies Not Ex�lusi�e. Trustee and Lender, and each of them, shall b� entitled #o snforce payment and
<br /> perfvrmance of any indebtedness or obligativns secured by this aeed a#Trust and to ex�rcise all rights and pawers
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