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<br />f. The death, dissolution or insolvency of any Trustor; the appointment of a receiver for any Trustor or
<br />their Property; any assignment for the benefit of creditors by the Trustor; or application of any debtor
<br />relief law to Trustor, including any type of workout or commencement of proceeding under any
<br />bankruptcy or insolvency laws by or against any Trustor or Borrower on any Loan Document or other
<br />Obligation secured by this trust deed.
<br />g. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or
<br />accommodation party of any of the Obligations or any guarantor, endorser, surety, or accommodation
<br />party dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any guaranty
<br />of the Obligations.
<br />7. In the event of a default and at any time thereafter, Lender, at its option, subject to any requirements
<br />under the Farm Credit Act or other applicable federal or state law, may exercise one or more of the
<br />following rights and remedies, in addition to any other rights or remedies permitted by law:
<br />a. Declare all Obligations secured hereby to be immediately due and payable and the whole will bear
<br />interest at the default rate as provided in the Loan Documents.
<br />b. Lender may immediately authorize Trustee to exercise the power of sale granted herein in the
<br />manner provided in the Nebraska Trust Deeds Act, or, at the option of the Lender, may foreclose the
<br />trust deed in the manner provided by law for the foreclosure of mortgages on real property, including
<br />the appointment of a receiver upon ex parte application, notice being hereby expressly waived, without
<br />regard to the value of the property or the sufficiency thereof to discharge the indebtedness secured
<br />hereby or in the Loan Documents.
<br />Should Lender elect to exercise the power of sale granted herein, Lender will notify Trustee who will
<br />record, publish, and deliver to Trustor(s) such Notice of Default and Notice of Sale as then required by
<br />law and will in the manner provided by law, sell the property at the time and place of sale fixed in the
<br />notice of sale, either as a whole or in separate lots, parcels, or items and in such order as Trustee will
<br />deem expedient. Any person may bid at the sale including Trustor, Trustee, or Lender.
<br />c. Lender, either in person or by agent, with or without bringing any action or proceeding and with or
<br />without regard to the value of the Property or the sufficiency thereof to discharge the Obligations
<br />secured hereby, is authorized and entitled to enter upon and take possession of the Property in its own
<br />name or in the name of the Trustee and do any acts or expend any sums it deems necessary or
<br />desirable to protect or preserve the value of the Property or any interest therein, or increase the income
<br />therefrom; and with or without taking possession of the Property is authorized to sue for or otherwise
<br />collect the rents, issues, crops, profits, and income thereof, including those past due and unpaid, and
<br />apply the same upon any Obligations secured hereby or in the Loan Documents.
<br />d. Lender will be entitled to a receiver to take immediate possession of the Property and all rents,
<br />issues, crops, profits, and income thereof, without regard to the value of the Property, or the sufficiency
<br />thereof to discharge the trust deed debt and the foreclosure costs, fees, and expenses. Such receiver
<br />may be immediately appointed by any court of competent jurisdiction upon ex parte application, notice
<br />being hereby expressly waived and shall serve without bond if the law allows. The receiver will apply
<br />all rents, issues, crops, profits, and income of the Property to keep the same in good repair and
<br />condition, pay all taxes, rents, fees, charges, and assessments, pay insurance premiums necessary to
<br />keep the Property insured, pay the expense of the receivership and attorney's fees incurred by the
<br />receiver, and apply the net proceeds to the payment of the Obligations secured hereby. Such receiver
<br />will have all the other usual powers of receivers authorized by law and as the court may direct.
<br />e. In the event Trustor fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or
<br />maintain any insurance on the Property, buildings, fixtures, attachments, or improvements as provided
<br />herein or in the Loan Documents. Lender, at its option, may make such payments or provide insurance,
<br />maintenance, or repairs and any amounts paid therefor will become part of the principal Obligations
<br />secured hereby, be immediately due and payable and bear interest at the default rate provided in the
<br />Loan Documents from the date of payment until paid. The advancement by Lender of any such amounts
<br />will in no manner limit the right of Lender to declare Trustor in default or exercise any of Lender's other
<br />rights and remedies.
<br />f. In the event Lender is a party to any litigation affecting the Property or this trust deed, including any
<br />action by Lender to enforce this trust deed or any suit in which Lender is named a defendant (including
<br />eminent domain and bankruptcy proceedings), Lender may incur expenses and advance payments for
<br />abstract fees, attorney's fees (to the extent allowed by law), costs, expenses, appraisal fees, and other
<br />charges and any amounts so advanced will become part of the principal Obligations secured hereby,
<br />be immediately due and payable and bear interest at the default rate provided in the Loan Documents
<br />from the date of advance until paid.
<br />App #: 5416290; CIF #: 111820; Note #: 3055851 223KM Legal Doc. Date: November 9, 2016
<br />FORM 5011, Trust Deed and Assignment of Rents Page 5 of 7
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