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2� 1 ���759
<br /> � C�EED �F TCiUST
<br /> La�an Nv: "i�'��98 7 9D {Gontinued} Page 3
<br /> Prvperty or to comply with any vbliga�ian �a m�intain Exis�ting Ind�btedness in goad standing as required belaw, then
<br /> Lender may do so. !f any act�an ar prc�ceeding is �ommen��d tha� wr�uld ma�erially a��ec� Lender's in��res�s in �he
<br /> Property, then Lende� on Trustor's behaR� rt�ay, but is not require� to, take any action that Lender belie�es ta be
<br /> apprnpriate �v p�ratec� Lender's in�eres�s. Afl expens�s incurred ar paid by Lender far such purpases wil� �hen ��ar
<br /> in�eres� a'� the ra�� charged und�r �he Credi� Agreemen� from �he d��e incurred or paid by �.ender ta the da�� a�
<br /> repayment by Trustor. AII such expenses will became a par�o#th� �ndebtedness and, a� Lend�r's vption, will {A} be
<br /> payab�e vn demand; tBf be added ta the bafance ❑�the Credi� Agreem�nt �nd be app�rtianed aman� and be payable
<br /> wi�h any installmen�paymen�s t� becvme due during ei�her �1 f the term of any��plicable insurance pvficy; or {2f �he
<br /> remaining te�m of�he Credit Agreement; or �Cy be�reated as a balloon payment which wiii be due and payabfe at the
<br /> Credit Agreement's maturi�y.
<br /> IJV'ARRANTY; DFFENSE 4F TITLE, The fiv�lo�nring pro�isions relating to ownership❑f the Proper�y are a par�o�this Deed
<br /> of Trus�:
<br /> TEtle. Trustar warran�s �hat: ��� �rustvr hvlds c�vad and marketable title o� record t❑ �he F�rvper#y in �ee simple,
<br /> free and c�ear of all Fiens and encumbrances vther �han those set #orth in the R�al Prvperty descripfion ar in �h�
<br /> Existing Inde�tednes� sec�ian belvw or in any�itle insurance pvlicy, title report, or�inal �itEe opinivn issued in �a�or
<br /> of, and accep�ed by, L�nder in conne��ion with �his Deed o#Trus�C, and {by Trus�o� has the full ri�ht�, pow�r, �nd
<br /> authority to�xecu�e and def iWer this Deed❑#Trust to L�nder,
<br /> Detense of Tit�e. Suhjec� to the excep�ian in the �aragraph abo�e, Trustvr warrants and will �ore�er defend �he
<br /> title�o�he Property ag�inst the law�u� claims o�all persons.
<br /> E}CISTING INDEBTEDNESS. The�oi3flwing prv�isivns concerning Exis�in� indebtedness ar� a part ofi thi� ❑e�d vf Trust:
<br /> Existing Lien, The I�en of �hi� Deed a� Trus� se�uring �he �nd�b��dness may iae secvndary and in�erior t�o an
<br /> exis�ing lien. Trus�or �acpress[y c�venants and agrees �v pay, or see �a th� payment vfi, the E�cistin� �ndebtedness
<br /> �nd �v pre�ent any default on such indebt�dnes�, �ny defauR�und�r�he instruments e�iden�ing su�h indeb�ednes�,
<br /> nr any defaul�under any securi�y d�cum�nts fvr�uch indebtedness.
<br /> EVENTS �F DEFAULT. Trustar will b� in de�aul� under�his Deed v�Trust if any vf the �allowing happen: �A} Trustvr
<br /> commits �raud ❑r m�kes a ma�erial misrepr�s�n�atiQn at any time in connec�ion w��h the Credit Agreemen�. This can
<br /> in�lude, far example, a false statemer�� abou# Trustor's incvme, assets. F�abili�ies. ❑r any vther aspects o� Trustor`s
<br /> finan�ial c�ndi�ian. {By Trust�r does nqt me�t�he repaymen��erms af the �red�t Agreemen�, {C) Trustor's action ❑r
<br /> inactian ad��rsely a�fects th� cof�ateral ar Lende�'s rights in �he co�la�eral. This can include, far example, fai�ure �o
<br /> maintain required insuranee, was�e ❑r de��ructi�e use o�the dwelling, failure tv pay�axes, dea�h o�all p�rs�ns liabie ❑n
<br /> th� ac�ount, �rans�er ofi ti�l� ar sale o� the dwei�ing, ��ea�ion of a 5�nior lien on the dwelling wrthout L�nder's
<br /> permissi�n, ���ecsosure by�he hvlder❑�ano�h�r lien, vr�he use a�funds or the dwelling�or prohiivi��d purpo�es,
<br /> R��HTS AND REMEDiES ON DEFAULT. Upon the occurr�nce of any E�ent ❑� ❑efaul� under any indelatedness, vr
<br /> �hvuld Trustor fiai�to car�ply vvith any vf Trus�vr's obliga�ians under this Qeed ❑f Trust,T�ustee ar Lender may exerGise
<br /> �ny�ne or mar�o��he�oliowing righ�s and remedies:
<br /> A��elera�ion Upon ❑etau[t;Additianai Remedies. I#any E�ent of De�au��accurs as per�he terms flf the �redit
<br /> Agreemen�se�ured hereby� L�nder may d�ci��e all Endebtedness secur�d by thi� deed a�Trust�o be due and
<br /> payable �nd the same shall thereupon become due and payable without any presen�ment. demar�d, protes�t or
<br /> notice vfi any kind. Thereafiter, Lender may:
<br /> �ay Either in person �r by ag�nt, wi�h �r without bringing any a�ti�n or proce�ding, ❑r by a receiver
<br /> appointed by a cour� and wi�hou�regard ta the adequaGy o�its se�uri�y, enter upvn and take pvssessivn
<br /> o�the Proper�yr vr any part�here��, in its awn name❑r in the name a�Trust��, and da any acts v+rhich i�
<br /> deems necessary or desirable�v preser�e the �alue, marke�abiiity or rentabit�ty o#the Praperxy� ar par�o�
<br /> the Proper�y or interest in the Property; increase �he income #rvm the Prvperty or pro�ect the security v#
<br /> the PrQper�y; and, wEth ar withQut �akin� passession o� �he Prvper�y, sue for ❑r atherwise collect th�
<br /> renfis, i�sues and pro��'�s a# the Proper�y, in�luding those past due and unp�id. and �pply the sarne, less
<br /> casts and expenses af❑peratian and col[eGtion a��flrneys' ��es, �v any indebtedness secured by this Deed
<br /> ❑� Trus�, al� in su�h order as Lender may determine. The en�ering upvn and takin� passessivn of the
<br /> Prop�rty, th� c�llecti�n ❑f suGh rents, issues ar�d profi��, and the applica�ian ther�o� shall nat cur� or
<br /> wai�e any defaul� ar notice o� default under this ❑eed af Trust or in�afidate any act done in response ta
<br /> su�h defiault t�r pursuant�v such nvti�e o�de�ault; and, notwithstand�ng�he cvntinuance in pc�ssessian v�
<br /> the Proper�y �r the cvlieGtian, receip� and applic��ion o� rents. issues or pro�its, Trustee or Lender shall
<br /> be entitled to sxerci�e e�ery right provided for in the Cr�di�Agreement or t�te Retat�d Dvcumen�s ar by
<br /> law upon the occurrence of any e�en�of default, including the right ta exercise th� �aower o�sal�;
<br /> �b} �ommence an action�o fv�eelose�his D�ed o�T�us��s a mvr�gage, appoint a receiver vr speci�i�ally
<br /> en�orce any o��he cavenant� hereofr and
<br /> {�} Deli�er tv Trust�e a writt�n declara��an❑#d���ul�and demand �ar saie and a written nc��ice vf de��ult
<br /> and efection to Gause Trus�or's interest in the Property tv be sold, which na�ice Trustee shaii cause ta be
<br /> duly filed for re�vrd in the appr�priate offices vt�he Cvunty in whiGh the Property i� Ivcated; and
<br /> �dy Vl�ith respect tv a[f or any part o�the Pers�n�� Prvper�Cy, Lender shaf! have a!!the right� and remedies
<br /> o�a secured party und�r the Nebraska Unifvrm Commercial�vde.
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