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2� 1 ���495
<br /> DEED �F TRUST
<br /> �Continued} Page 5
<br /> Defe�t��e Collateraliza#ion. This Deed vf Trust or any of the F�ela�ed Documen�s ceases to be in full �or�e and
<br /> effiec� ��ncluding failure of any collate�al dacument to create a �alid and perfec�ed security in�erest or lien� at any
<br /> ��me and for any reason.
<br /> Death or Insoi�ency. The dissvlution of Trustor's tregardless of whether �lec�ion to cvn�inue is made�, any
<br /> member withdraws from the limi-�ed liability �ompany, ❑r any �ther �ermination of Trustor's existsnc� as a going
<br /> business vr �he death of any member, the insol�ency of Trustor, the appointmen� o� a recei�er for any part a�
<br /> Trustor's property, any assignment far the benefit ❑f creditors, any type of creditor workou�, or �h�
<br /> commencemen�of any pr��eeding under any bankrupt�y or insol�en�y laws by or against Trus��r.
<br /> Credi�or or For#ei�ure Pro�eedings, Commencement af foreclosure or forfeiture proceedings, wh�ther by jud�cia�
<br /> praceed�ng, self-hefp, repassession or any a�her method, by any credi�ar v�Trus�ar or by any go�ernmen�al ag�ncy
<br /> against any property securing th� lndebtedness. This inc�udes a garnishmen� o� any of Trustar`s a�caunts,
<br /> including depos�t accounts, wi�h Lender. H�we��r, �his E�ent of Defau(t shall not apply ifi there is a good �aith
<br /> dispute by Trustor as to the �alidity ar reasonabl�ness af the claim which �s the basis of the cred'€tar or forfe�tu�e
<br /> pro�eeding and if Trusta� gi�es Lender written notice flf the credi�or or forfei�ure p�oceeding and depasits with
<br /> Lender moni�s or a surety bond �or€he creditor or far�fei�ur� praceeding, in an amaunt determined by Lender, in its
<br /> sale discretion, as being an adequate reserve or bond for�he dispute.
<br /> Breach v�C�ther Agreement. Any breach by Trustor under the terms of any other agreement between Trustar and
<br /> Lender �hat is not remedied within any gra�e period pro�ided th�rein, �ncluding wi�hout limi�ation any agreement
<br /> �on��rning any indeb�edness or❑�her obliga�ion o�Trustvr t❑ Lender, whether exis�ing nflw ❑r later.
<br /> E�enrs A�fecting Guaran#or. Any o� the preceding e�ents oc�urs with respect to any Guarantor of any ❑� �he
<br /> Indel�tedness ❑r any Guarantor dies �r becomes in�ampetent, or �e�ok�s or disputes the �alidity of, ar liability
<br /> under, any Guaran�y af the Indebtedness.
<br /> Ad�erse Change. A material ad�erse chang� occurs �n Trustor's �€nancial condition, or Lender belie�es the
<br /> prospect❑f payment�r performance of�he Indebtedness is �mpaired.
<br /> �nsecurity. Lender in good faith �efie�es itsel#insecure�
<br /> Righ#to Cure. If any default, vth�r than a defaul�in �ayment, €s �urable and if Trustor has nat been gi�en a notice
<br /> of a breach of�he same pro�ision of�his Deed of Trust within�he preceding tws��� t 1�} months, i�may be cured if
<br /> Trustvr, a�ter Lender sends written notic��o Trustor demanding cure of such de�ault: �1� cures the de�ault within
<br /> twen�y t�4� days; ❑r �2� i� the cure requires more than twenty ��Dy days, imm�diately ini�iates steps which
<br /> �ender deems in Lender's sole discretivn to be sufficient to cure the de�ault and thereafter continues and
<br /> complet�s all reasonable and necessary steps su���cisnt ta produce compliance as soan as reasonabfy prac�ica�.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an E��nt of Default occurs und�r�his Deed o�Trust, at any time the�ea�ter,
<br /> Trus�ee or Lender may exercise any�ne or mvre o#the following rights and remedies:
<br /> Acceleration Upon Default; Addi�ionat Remedies. I�any E�ent o� Default occurs as per the terms o�the Note
<br /> se�ured hereby, Lender may declare all Indebtedn�ss secured hy this D�ed af Trust ta �e due and payable and
<br /> the same sha��thereupon become due and payable with�ut any presentment, demand, pro�est or notice ofi any
<br /> kind. Thereafter, Lender may:
<br /> {a� Eith�r in person or �y agent, with or without b�inging any action or proceeding, or by a recei�er
<br /> appointed by a caurt and v�rithou� regard to the adequacy of its security, enter upon and take possess�an
<br /> �f the Prvperty, ar any part thereof, in its own name or in the name of Trustee, and do any acts which it
<br /> deems necessary or desirab�e to preser�e the�alue, marketability or ren�ability of the Property, or part o#
<br /> the Prflperty or interest in �he Property; in�rease the income from the Prape�ty or prQtect the se�urity o#
<br /> the Proper�y; and, with or wi�hout taking possessifln of the P�aper�y, sue for or otherwise �o��e�t the
<br /> �ents, issues and profiits of the Pr�perty, including those past due and unpaid, and apply '�he same, less
<br /> costs and expenses��opera�ion and cvllection attorneys' fees, to any indebtedness secured by this Deed
<br /> o� Trus�, al� in su�h order as Lender may determine. The en�ering upon and takin� possess�on af the
<br /> Proper�ty, the collection af such rents, issues and profits, and the applica�ian th��eof shall not cure or
<br /> wai�e any default or nv�ice o�defaul� under this ❑eed of Trus�ar in�alida�e any act done in response tv
<br /> such defau�t❑r pursuan�to such notic�of de#ault; and, notwithstanding the continuance in possession ot
<br /> �h� Property or the collec�ion, receipt and application o� ren�s, issues or �rofits, Trus�ee ar Lender shalf
<br /> b� entitled to exerciss ��ery right pro�ided for �n the Note vr the Re�at�d Documents ar by law upon �h�
<br /> occurrence of any e�en�of de�ault, in�luding the right to exercise the pvwer�f sale;
<br /> {b� Commence an action ta fflreclose this Deed of Trust as a mortgage, appoint a re�ei�er or specifica[�y
<br /> enfiorce any of the co�enants hereof; and
<br /> �cy Deli�er to Trus�ee a w�itten de�laration of default and demand for sale and a written notice of d��ault
<br /> and elec�ion to cause T�ustor's �nterest in the Property t❑ be sold, which notice Trustee shall caus��o be
<br /> du�y filed for re�ord in the appropriate offi�es ot the County in whi�h#he Proper�y is lo�ated; and
<br /> �d} Wi�h respec�to al� or any part of the Personal Property, Lender sha(� ha�e all the righ�s and remedies
<br /> o�a secur�d par�y unde�the Nebraska Uniform Commercial Code.
<br /> Fare�losure by Power vf Sale. If�ender�lects to�oreclose by exercise ofi the Power❑f Sale herein cantained,
<br /> Lender shall not��y Trustee and shall deposi� with Trustee this ❑eed vf Trust and the Note and 5L1Ch receipts
<br /> and e�idence of expenditures made and secured by this Deed o�T�us�as Trustee may r�quire.
<br /> {aj Upvn receipt❑f such no�ice frflm Lender, Trustee shall cause to b� recarded, puh�ished and del��ered
<br /> to Trustor such Notice of Default and No�ice a� Sale as then required by �aw and by this Deed o�Trust.
<br /> Trustee shal(, wi�hout demand ❑n Trustor, after such time as may th�n be required by law and a�ter
<br /> recordation af su�h Not�ce �f Default and after Notice of Sale ha�ing been gi�en as requ�red by law, sell
<br /> the Property at the time and place of sale #ixed �y it �n such Notice af Safe, eithe� as a whole, or in
<br /> sepa�ate lots vr parcels or items as Trustee shail deem expedient, and in such �rder as it may determine,
<br /> at public auct�on to the highest bidder for cash in lawful money af the Un�ted States payable at�he #ime
<br /> a� sa1e. Trustee shal� deli�er to such purChaser or purchasers th�reof its good and suffiGient de�d �r
<br /> deeds con�eying th� prflperty so sold, but withaut any co�enant or warranty, express or implied. The
<br /> recitals in such deed o� any ma�ters or facts sha11 be �onc�usi�e prvof o��he truthfu[ness thereo�. Any
<br /> p�rsan, inciuding withvut limi�a�ion Trustor, Trustee, vr Lend�r, may purchase at such sa�e.
<br /> {b� As may be permitted by (aw, a�ter deducting all cos�s, fees and expenses af Trust�e and o� this
<br /> Trust, including casts of e�id�nce of tit�e in connection with sale, Trustee shail apply the proc�eds of sale
<br /> to payment of �i} all sums expended under the�erms af this Deed❑�Trust or under the terms of the Note
<br /> not then repaid, including but na� limited tv accrued interes� and late charges, �iiy all othe� sums then
<br /> secured hereby, and �iiiy the remainder, i�any, to th� p�rson or persons legally�ntitled�hereto.
<br /> �c� Trustee may �n the manner pro�ided by law pvstpone sale of all❑r any partion o#�he Property.
<br /> Remedies Nvt Exclusirre. Trustee and Lender, and each af them, sha�� be �n�itled ta enfvrce payment and
<br /> performance of any indebtedness�r ob�igativns secu�ed by�his Deed vf Trust and to exerciss all rights and powers
<br /> under this ❑eed o# Trust, under the Note, under any of the Relat�d Documents, or under any other agreement ar
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