|
2� 17��77�
<br /> DEED �F TRUST
<br /> ���rltlrlued� Page 5
<br /> far taxes vr insuran�e, or any other payment necessary to pre�ent filing of vr to effect discharge of any lien.
<br /> Default in Fa�or of Third Parties. Should Grantor default under any Ioan, extension of credit, security agreernent,
<br /> purchase or sales agreement, ❑r any vther agreement, in fa�or nf any other creditor or persvn that may materially
<br /> affect any of Grantar's praperty or �rantor`s ability ta repay the Indebtedness ❑r Grantar's abFtfty t❑ perfarm
<br /> �rantor's obligations under this❑eed af Trust or any of the R�lated Dacuments,
<br /> False Sta#ements. Any warranty, representation or statement made or furnished to Lender by Trustor �r vn
<br /> Trustor's bshalf under this Deed of Trust or the Related Dacuments is false vr misleading in any material respeCt,
<br /> either now or at the time made or furnished ar becomes false or misleading at any time thereafter.
<br /> Defe�ti�e Cvlfateralization. This Deed vf Trust or any of th� Related Documents ceases to be in fu�F for�e and
<br /> effect (in�luding failure ❑f any cvllateral dvcumen� tv create a �alid and per€eGted security interest vr lieny at any
<br /> time and#nr any reas�n.
<br /> Death�r Insol�ency. The dissalution vr termination of Trustor's exis#ence as a going business�r the d�ath of any
<br /> pa{tner,the insol�ency of Trustor,the appointment af a r�ceiver for any part of Trustor's property, any assignment
<br /> far #he benefit of creditors, any type of creditvr wvrkvut, or the commencement of any proceeding under any
<br /> bankruptcy or insol�ency laws by or against Trustor.
<br /> Creditor or Forfeiture Proc�edings. Commencement �f fvre�lvsure or forfeiture prviceedings, whether by judicial
<br /> praceeding, self-help, repossession vr any other method, by any creditor of Trustor or by any go�ernmental agen�y
<br /> against any prop�rty securing the Indebtedness. This includes a garnishm�nt ❑f any of Trustor's accounts�
<br /> including deposit accvunts, w�th Lender. Howe►►er, th#s E�ent of Defau#t shall not apply if there is a gaod faith
<br /> dispute �y Trustor as ta the�alidity or reasonableness of the clairn which is the basis of the creditor or#orfeiture
<br /> prviceeding and i# Trustor gi�es Lender written nntice vf the creditor or forf�iture prviceeding and deposits with
<br /> Lender monies or a sure#y bond#ar the creditor or fvrfeiture prv�eeding, in an amount d�termined by Lender, in its
<br /> sole dis�r�tion,as being an adequate reser���r�ond far the dispute.
<br /> Bre�ch v#�ther Agreement. Any brea�h by Trustvr under the terms o#any vther agreement �etween Trustor and
<br /> Lender that is no# remsdied within any gra�e psriod pro�ided therein� including withvut limitation any agreement
<br /> �ancsrning any indeh#edness ar❑ther❑bligation of Trustor to Lender, whether existing now or later.
<br /> E�ents Affecting Guarantor. Any o##he preceding events ocGurs with respect to any guarantor, end�rs�r, surety,
<br /> vr accommodation party of any of the Indebtedness or any guarantor, endarser. surety, or accammodation party
<br /> dies or becom�s incompe#ent, or re�okes or d�sputes the �alidity vf, or liability under. any Guaranty of the
<br /> Indebtedness.
<br /> Adverse �hange. A materiat ad�erse change �ccurs in Trustor's financia� c�ndition, or Lender helie�es the
<br /> prospect of paymen#or per#orman�e of the Indebt�dness is impaired.
<br /> fnsecurity. L�nder in govd fai#h belie�es itse!#insecure.
<br /> Right to Cure. If any default, oth�r than a default in payment, is curak�le and�f Trustvr has not b�en gi�en a notice
<br /> o#a brea�h of the same prv�ision of this Deed of Trust within the preceding twel►►e t 12y mon�hs. it may be cured if
<br /> Trustor. after Lender sends written notice to Trustor demanding cure vf such default: �1 f cures the default within
<br /> twenty R2�} days; or �2} if the cure requires rnore than twenty �Z�� days, immediately initiates steps which
<br /> Lender deerns in Lender`s sole discretian tv be sufficient to cure the de#ault and thereafter cont�nues and
<br /> comp�etes all reasvnable and necessary steps sufficient to produce compliance as soon as reasanahly practi�al.
<br /> AIGHTS AND RE1IAE�IES qN �EFAULT. If an E�ent of❑efault vccurs under this Deed of Trust. at any time therea##er, �
<br /> Trustee vr Lender may exercise any one or more of the fvllowing rights and remedies: �
<br /> E
<br /> A��eiera#ion Upvn Default;Additianal Remedies. !f any E�ent af❑efault oc�urs as per th� terms of the Nots
<br /> secured hereby, Lender may declare all Indehtedness secured by this❑eed�f Trust to b�du�and payable and
<br /> ;
<br /> th�same shall thereupon becom�due and payahle withvut any presentment, d�mand, prot�st vr notice of any �
<br /> kind. Thereafter, Lendsr may:
<br /> tay Ei#her in person or by agent, wi#h vr without br�nging any action �r proceeding, ❑r by a recei�er
<br /> appvintsd by a�ourt and withvut regard tv the adequa�y of its se�urity, enter upon and take pnssession �
<br /> of the Property, or any part thereof, in its vwn name or in th� name of Trustee, and dv any acts r►vhich it �
<br /> deems ne�essary vr desirable to preser�e the�alue, marketability❑r rentability v#the Prvperty, or part of
<br /> the Property❑r interest in the Prvpar�y; �n�rease the incarne from the Praperty a�r protect the se�urity af
<br /> the Property; and, with or without taking possession ❑f the Property, sue far or atherwis� collect the
<br /> rents, issues and prvfits of the Prvperty, including those past due and unpaid� and apply the same, less
<br /> cvs�s and�xpenses af operatian and cvllection at�orneys'fees,to any indebtedness secured hy th�s Deed
<br /> of Trust, all in such vrder as Lender may determine. The ent�ring upon and taking passession of the
<br /> Rroperty, the co�iec#ion o# such rents, issues and profits, and the application thereo# shall not cure or �
<br /> wai�e any default or not�ce of de#ault under this ❑eed vf Trust vr in�a�idate any act done in respanse tv '
<br /> 1
<br /> such default�r pursuant tv su�h notice of default; and, notwithstanding the cantinuance in pvssession of �
<br /> #he Property ❑r the c�llectian, rsceipt and applica#ian vf rents, issues or profits, T�ustee or Lender shall E
<br /> be entitled t❑exercise e�ery right pra�ided for in the IVote or the Refated D�curnents or by law upon the
<br /> oc�urrence of any e�ent o#default, including the right to exercise the power�f sals; :
<br /> ;
<br /> �bf Cvmmence an action to foreclose this �eed of Trust as a martgage. appoint a recei�er or speci#ically ;
<br /> enforce any of the co�enants here�#;and
<br /> �cf ❑eli�er to Trustee a written dec�aration vf default and demand far sale and a written notice❑f de#ault �
<br /> and election to cause Trustor's interest in the Proper#y tv be svld, which notice Trustee shall cause tv be '
<br /> duly f�1ed for record in the apprapriate offices of the Cvunty in which th�Praperty is focated; and
<br /> �dy With respect to all or any part v#the Persanal Property, Lender shal!ha�e all the righ#s and remedies
<br /> v�a se�ured party under the Nebraska Unifvrm Cvmmercial�vde.
<br /> Foreclosure by Pawer of S�le. �#Lend�r e�ects t❑fareclase by exercise❑f the Power�f 5ale herein conta�ned,
<br /> Lende� sha�1 natify Trustee and shall deposit with Trustee this De�d of Trust and the Note and such receipts
<br /> and e�idenc�vf expenditures made and se�ured by this Deed of Trust as Trustee may require.
<br /> �a} Upon receipt of such notice from Lender.Trustee shall cause tv k�e r�corded. published and dei��ered
<br /> to Trustor su�h Notice vf Default and Noti�e ❑f 5ale as then required by law and by this ❑eed of Trust.
<br /> Trustee shall, withaut demand on Trustor, after such time as may then be required by !aw and after
<br /> recvrdation vfi su�h Notice of Defau�t and after Notice of Sale ha�ing been gi�en as required by law, s�ll
<br /> the Property at the time and place ❑f sale fixed hy it �n such Notice of Sale, either as a whole, ❑r in
<br /> separate lots or parcels or it�ms as Trustee shall deem expedient, and in such order as it may det�rmine,
<br /> at public auction to the highest�idder for cash in lawful money vf the United 5tates payabl� at the time
<br /> of sale. T�ustee shall deli�er to such purchaser vr pur�hasers thereof its gvvd and sufficient deed ❑r
<br /> deeds �on�eying the prvperty so sold, but without any c��enant ar warranty, express or implied. The
<br /> recita�s in such deed of any matters ar facts shal! be �anclusive praof of the truthfulness thereaf. Any :
<br /> person. including without limitation Trustor, Trustee,or Lender, may purchase at such sale.
<br /> �
<br />
|