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2� 17� 1382
<br /> DEED �F TRUST
<br /> �Continue�l� Pa9e 5
<br /> Granto�'s obiigatians under this Deed of Trust vr any of the Related Documents.
<br /> False Statgments. Any warranty, representation or statement made or furnished to Lender by Trustor vr vn
<br /> Trustor's behalf under this Deed v#Trust or the Related Dvcuments is false or misleading in any materia! r�spect�
<br /> either now or at the tim�made or furnished or becvmes false vr misleading at any time thereafter.
<br /> Defecti�e Gollaterafizat�on. This Dsed vf Trust or any ❑f the Rela#ed Documen#s ceases ta be in full force and
<br /> effe�t {includ�ng failur� af any colla#eral dvcument t� create a �aiid and p�rfected security inter�st ❑r lieni at any
<br /> time and far any�eason.
<br /> Dgath or lnsal�ency. The d+sso�ution ❑f Trustor's �regardless ❑� whether electipn tv continue is madey, any
<br /> member withdraws frvm the limited liahility company, or any other termination of Trustar's existence as a go�ng
<br /> business or the death of any m�mb�r, the insol�ency of Trustor, the appo�ntment of a recei�er fo� any part of
<br /> Trustor's property. any assignment for the benefit vf creditors. any type of crsditor workout, or the
<br /> commencem�nt o#any praceeding under any bankruptcy or insal�ency laws by or against Trustor.
<br /> Credrtor or Forfaiture Proceedings. Commencement o# #areclosure or forfeiture proceedings, wh�ther by judicial
<br /> proceeding, self-hslp, r�possessivn vr�ny other methad, by any creditor of Trustor or by any go�ernmental agency
<br /> against any property securing the Indebtedness. This inciudes a garnishmen# of any vf Trustor's accounts,
<br /> including deposit a�counts, with Lender. Hvwe�er, this E�ent of Defau�# shall not appfy if there is a govd faith
<br /> dispu#e by Trustor as to the �aiidity vr reasonableness o##he claim which is the �asis vf the cred�tor or�orfeiture
<br /> proceeding and if Trustor gi�es Lender written notice of the creditar or forfeiture prnceeding and deposits with
<br /> Lender monies ar a surety band for the�reditor of forfeiture proceeding, in an amount d�termined by Lender, in its
<br /> sale discretivn, as being an adequate r�ser�e or bond for the dispute.
<br /> Breach af ather Agreement. Any hrea�h by Trustor under the terms af any ather agreement between Trustor and
<br /> Lender that is nat remedied within any grace period pro�ided therein, inGluding without limitation any agreement
<br /> concerning any indebtedn�ss or other obligation of Trustor to Lender, wh�ther existing now or later.
<br /> E�ents Affecting Guarantor. Any vf the preceding e�ents occurs with r�spect to any Guarantor of any of the
<br /> Indebtednsss or any Guarantor dies or becomes incompetent, or re�okes or disputes the ►►alidity of, or �iability
<br /> under, any Guaranty of#he Indebtedness.
<br /> Advarse Change. A material ad�erse �hange occurs in Trustor's financial condition. or Lender helie�es the
<br /> prospect of payment vr perfarmance vf the Indebtedness is impaired.
<br /> Insecurity. Lender in gv�d faith be�ie�es itself insecure.
<br /> Right to Cure. If any default, other than a default in payment, is curable and if Trustor has not been gi�en a notice
<br /> of a k�reach of the same pro�is�vn❑f this aeed�f Trust within the pre�eding twel�e �12� manths, it may be cured if
<br /> Trustor, after Lender sends written noti�e to Trustor demanding cure�#such default: {'f� cures the default within
<br /> twenty �2Qy days; or �2y if #he cure requires mare than twenty t2�f days, immediately initiates steps which
<br /> Lendsr deems in Lender's sole discretion tv be sufficient to cure the d�fault and thereafter continues and
<br /> �ompletes all reasonable and necessary steps sufficient tv produ��compliance as saon as reasonably practical.
<br /> RIGHTS AND fiENlEDIES DN DEFAULT. If an E��nt of Defauit accurs under this Deed of Trust, at any time thereafter,
<br /> Trustee or Lender may exer�ise any one vr more af the fo�lowing rights and remedies:
<br /> Acceleration Upon Defauft: Additional Remedies. If any E�ent of Default occurs as per the terms of�he Nate
<br /> secured hereby. Lender may declare ail Indebtedness secured by this Deed af Trust to be due and payable and
<br /> the same shall thereupon be�ome due and payable without any prssentment,demand, protest ar nvtic�of any
<br /> kind. Thereafter, Lender may:
<br /> �a� Either in persan or by ag�nt, w�th or without bringing any a�tion or procesding, or by a recei�er
<br /> appointed by a court and withaut regard to the adequacy of'rts security, enter upon and take possession
<br /> vf the Praperty, or any part thereaf, in its own name❑r in the name of Trustee. and da any acts which it
<br /> deems necessary vr desirahie to preser�e the�aiue, marketahi��ty or rentability❑f the Property, ❑r part of
<br /> the Property or interest�n the Prvperty; increasg the incame from the Property or protect the security of
<br /> the Property; and, with or without taking possessian of the Praperty, sue for or otherwise col�s�t the
<br /> rents. issues and profits ❑f the Prvperty. inciuding those past due and unpaid. and apply the same. I�ss
<br /> costs and expenses of operation and collection a#t�rneys`fees� to any indebtedness secured by this Deed
<br /> of T�ust, a�l in such ❑rder as Lender may de�ermine, The entering upon and taking possession of the
<br /> Property, the cnllection of such rents, issues and profits, and the appiication thereof shall nvt cure or
<br /> wai�e any default or notice af default under th�s Deed af Trust or in�alidate any act done in responss t�
<br /> such default or pursuant to such notice of default; and, nvtwithstanding the c�n#inuan�e in possession of
<br /> the Property or the coliection, receipt and appficativn of rents, issues or prafits, Truste� or Lender shall
<br /> be entitled to exer�ise e�ery right pro�ided for in the Nate ❑r the Related Documents ar by law upon the
<br /> accurrence of any e�ent of default, incfuding the right to exercis�the power of sale;
<br /> �b� Commence an ac#ion ta fareclose this Deed af Trust as a martgage, appoint a recei�er vr specificaiiy
<br /> enforce any af the ca�enants hereof; and
<br /> �cf Deli�er to Trustee a written declaration o#default and demand fvr sale and a written notice af default
<br /> and election tv cause Trustor's interest in the Property to be sold, which no#ice Trustee shall cause t❑ be
<br /> dufy f��ed for record in the appropriate offices af the County in which the Property is loca�ed; and
<br /> �d� Vllith resp�ct to al!or any part of the Personal Property. Lender shal! ha�e all the rights and remedies
<br /> ❑f a se�ured party under the Nebraska LJniform �ommercial Cod�.
<br /> Foreclosure by Power ot 5ale. If Lender e�ects to foreclose by exercise of the Power of 5afe herein con�ained,
<br /> Lender shall notify Trustee and shall deposit with Trustee this Dsed of Trust and #he Note and such receipts
<br /> and e►►idence of expenditures made and secured by this Deed of Trust as Trustee may require.
<br /> �a� Upon recsipt of such no#i�e#rom Lender. Trustee shall cause to be recorded. puhlished and deli�ered
<br /> t❑ T�ustor such Notice vf Default and Notice of 5ale as then required by law and by this ❑eed of Trust.
<br /> Trus#ee shaEl. without demand on Trustor, after su�h tim� as may then be required by law and after
<br /> recordation of such Notic� vf ❑efauft and a#t�r Notice of Sale ha�ing been gi�en as required by law, s�ll
<br /> ths Property at the time and place of sale fixed by it in such Nvtice af Sale, either as a whvle, or in
<br /> separate iots or parcels vr items as Trustee sha�l desm�xpedient, and in such arder as it may determine,
<br /> at publi� au�tion to the highest bidder#or�ash in iawful money of the LJnited States payable at the time
<br /> of sale. Trustee shal� deli�e� tv such purchaser or purchasers thereof its good and sufficient de�d or
<br /> de�ds con�eying the property so sold, but without any co�enant vr warranty, express or implied. The
<br /> recitals in such de�d of any matters �r facts shel! be conclusi�e provf of the truthfuln�ss therev#. Any
<br /> persan, including without fimi#ation Trustor, Trustee� or Lender� may purchase at such sal�.
<br /> �bf As may be permitted by law, after deducting all cvsts, fees and sxpenses of Trustee and vf #his
<br /> Trust, including costs of e�idence❑f title in connection with sal�� Trust�e shai�apply the proc�eds of sale
<br /> ta payment af �if all sums expended under the terms of th�s Deed of Trust or under the te�ms of the Note
<br /> not then repaid� including hut not limited to accrued interest and fate charges, �ii� aff other sums then
<br /> secured here�y, and �iiiy the remainder� if any, ta the person or persons legally entitfed thereto.
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