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2� 17� 1592
<br /> aEE�a oF TRus-r
<br /> ��ont�nued} Page �
<br /> Defec�i�e �vlla�era�izatifln. This Deed af Trust o�- any of th� Re�ated Do�umen�s �eases tv be in full farce and
<br /> ef�ec� �inc�uding �ai[ure af any collateral document ta �reate a �alid and per��ct�d security interest ❑r lien� a� any
<br /> time and �For any reason.
<br /> Death o� Insol�ency. The dissolution of Trustor's �regardless o� whe�her elec�ion to continu� is made�, any
<br /> member withdraws �r�m �he limitsd liability campany, or any other �erminafiion of Trustor's existence as a going
<br /> business ar the death vfi any memb�r, the insol�ency of Trust��r, the appointmen� of a recei�er for any part of
<br /> Trustor's property, any ass�gnment far the benefi� ❑� �reditors, any type ❑f creditvr workout, or the
<br /> commencement of any proceeding under any bankrup�cy or inso��ency laws by❑r against Trus�or.
<br /> Creditor or Forfeitu�e Proceed�ngs. Commencemen� of fioreclosure ❑r forfeiture �roceed�ngs, whether by judi�ial
<br /> proceeding, self-he[p, repossession ar any�ther me�hod, �y any creditor vf Trustor vr by any go�ernmenta� agency
<br /> aga+nst any property securing the Indebtedness. This inc[ud�s a garnishment of any of Trustvr's accounts,
<br /> including depasi� accaunts, with Lender. Howe�er, �his Ev�nt a� ❑efault shail no� apply i� there is a good faith
<br /> dispu�e by T�ustar as t❑ �he �a�idity ❑r reasonableness of the claim which �s the basis o�the creditor vr �orfeiture
<br /> pro�eeding and if Trustor gi�es Lender writt�n notice ❑� the c�editor or fvrfe�ture praceeding and deposi�s with
<br /> Lender mon�es or a sure�y bond for the �reditor or fvrfeiture praceeding, in an amount det�rmined hy L�nder, in its
<br /> sole discre�ivn, as being an adequa�e reser�e�r bond for the dispute.
<br /> Breach of�#her Agreement. Any breach by Trustvr under the terms vf any other agreement betw�en Trustor and
<br /> Lender that is not remedied within any grace period prv�ided therein, inc[ud�ng wi�hout limitation any agreemen#
<br /> concernin� any indebtedness or other obligation o�Trust�r to Lender, whether�xisting now or later.
<br /> E�en�s Affecting Guaran#or. Any vf the preced�ng e�ents occurs wi�h respect to any Guarantor of any of the
<br /> Indebtedness or any Guarantor dies or be�om�s incompetent, or re�okes ❑r disputes the �alidity of, or liabikity
<br /> under, any Guaranty of the �ndebtedness.
<br /> Ad�erse Change. A mater�al ad�erse �hange ❑ccurs in Trustvr"s financial conditian, ❑r Lender l�e�ie�es �he
<br /> prospect a#payrnent or p�r�ormance ofi the Indebt�dness is impair�d.
<br /> Insecurity. Lender in good faith helie�es itself insecure.
<br /> Right�a Cure. If any defauft, vther than a de�au��in payment, is curabie and i#Trustor has nvt been gi�en a notice
<br /> of a k�reach of the same pra�ision of this Deed❑�Trus�within the preceding tv►►el�e �12} manths, it may be cured if
<br /> Trust�r, after Lender sends writ�en nvtice�❑Trustar demanding cure vf such default: �13 cures the default within
<br /> twenty �2Dy days; ar {2f if the cure requires mare than tv►►enty {2�y days, imm�diately init�ates steps whi�h
<br /> Lender deems in Lender's sole d�scr�t�on to be suf�icien� to cure the defau�t and thereafter �vntinues and
<br /> camp�etes af� reasvnab[e and necessary s�eps su��icient ta prvduce compliance as soon as reasonably practical.
<br /> RIGHTS AND �EMEDIE� �N DEFAULT. �f an E�ent o� C]efault occurs under this Deed vf Trust, at any time thereafter,
<br /> Trus�ee or Lend�r may exercise any an�or mor�o�the follawing rights and remedi�s:
<br /> A���leration Upon Default: Addi�ivnal Remedies. It any E�ent of De�ault o�curs as p�r�he terms o�the Note
<br /> sscured hereby, Lender may declare all lndeb�edness secured by this Deed ❑f Trust to be du� and payabf�and
<br /> �he sam�sha11 thereupon become du� and payable w�thou�any presen�ment, demand, protest�r nv�ice of any
<br /> kind. Thereafter, Lender may: ,
<br /> �ay Ei�her in person ar by agent, wi#h �r wi�hout bringing any a�ti�n o� proceeding, vr by a recei�er
<br /> appointed by a cour� and without regard to the adequacy of i�s security, en�er upon and �ake possessivn
<br /> of the Property, �r any part therev�, in its own name ❑r in the name of Trustee, and dv any acts which it
<br /> deems necessary�r desirable to preser�e the�alue, marketability or rentability vf the Property, �r part of
<br /> tne Praperty or in�e�est in the Prvperty; increase the incvme firvm �he Property ❑r protec�the s�curity ❑�
<br /> the Property; and, with or without taking possessi�n of the Property, sue far or otherwise cal�ect the
<br /> rents, issues and pro��ts vf the Property, in�luding those past due and unpaid, and apply the same, less
<br /> costs and expenses of aperatian and cvllection attorneys' fees, to any indebtedness secured �y this Deed
<br /> of Trust, all in such ��der as Lender may determine. The entering upon and taking possess�on of the
<br /> Property, the c�flectivn of such ren�s, issues and profi�s, and the application thereof shai! no� cure or
<br /> wai�e any defiault or nvti�e v�default under�his Desd vf Trust ❑� �n�alidate any act done in response to
<br /> su�h d�#ault or pursuant to su�h notice vf defau�t; and, notwithstanding the continuan�e in pvssess�on vf
<br /> the Proper�y or th� collectian, receip� and application vf rents, issues or profits, Trustee or Lender shall
<br /> be entit�ed to exercise ��ery right pro�ide� for in #he Note ❑r�he R�lated Documents or by law upon �he
<br /> oc�urren�e of any e��nt of de#au�t, including the righ�to exercise�he pvwer of sale;
<br /> tb� �ommence an a�tian to fa�eclvse this Deed vf Trust as a mar�gage, appa�nt a recei�er or speci�ical�y
<br /> enforce any a�the co�enants hereof; and
<br /> �c� Deli�er ta Trustee a written de�laration of default and demand fvr sale and a written no�ice o�defau�t
<br /> and election to caus�Trustor's in�erest in the Property to �e sold, which notice Trustee shall cause to be
<br /> duly filed�vr record in the appropr�ate off�ces❑f�he County in which th� Property is Iocated; and
<br /> �d� V11ith respect ta ai! or any part of the Persanal Pr�perty, Lender shal� ha�e al[ the righ�s and remedies
<br /> of a se�ured par�y under the Nebraska Uni#arm Cammercial Code.
<br /> Foreclosure by Power of Sale. If Lender elects�o fvreclose hy exercise�f the Po►rver o�Sale herein contain�d,
<br /> Lender shall natify Trustee and shall deposit w��h Trustee this ❑eed of Trust and the Note and such r�c�ip�s
<br /> and e�iden�e af expenditures made and secured by this D�ed of Trust as Trustee may requ�re.
<br /> �a} lJpon receipt�f such no�i�e frvm Lender, Trustee shali cause�o k�e recorded, published and deli�ered
<br /> to Trus#ar such Notice of Defaul� and Not�ce ❑f Sa�e as then required hy !aw and by this ❑eed af Trust.
<br /> Trus�ee shai�, without demand on Trustvr, after such t�me as �nay then be required by !aw and after
<br /> recvrdation o�such Notice of Default and af�er No#i�e o� Sale ha�ing been gi�en as required by law, sell
<br /> �he Property at the time and place o� sale fixed hy it in such Notic� ❑� Sale, either as a whoie, or �n
<br /> separa�e lots or parcels vr items as Trustee shall deem expedient, and in such❑rde�as ��may determine,
<br /> at public auction to the highes� bidder far cash in lawfu� money vf the Un�ted States payable at the time
<br /> of sale. Trustee shal� deli�er tv such purchaser �r purchasers th�reof its gaod and sufficient deed vr
<br /> deeds cvn�eying the property so sofd, but wi�hout any �o�snant or warran�y, express or imp�ied. The
<br /> r�citals in such deed vf any ma��ers or fac�s shall he conc�usi�e proa� v�the tru�hfulness the�eot. Any
<br /> persan, including rrvithout iimitativn Trustor, Trus�ee, or Lende�, may purchase at such sale.
<br /> (by As may be permi�t�d by Iarrv, afiter deduc�ing all �asts, fees and expenses of Trustee and of this
<br /> Trusfi, including cos�s of��idence of title �n cvnnection with sale, Trus�ee shall apply the pr�ceeds ofi sale
<br /> tv payment of ti� all sums expended under the te�ms of this Deed of Trus�or under the terms af the Note
<br /> not �hen repaid, inc�uding but not [�mited to accrued �nterest and �ate charges, �ii} alf ather sums then
<br /> se�ured hereby, and tiii� th� remainder, if any, to the person❑r persons lega�fy entitled thereto.
<br /> 4�y Trust�� may in the manner pro�ided by law postpon�sale af ail or any porti�n o#�he Property.
<br /> Remedies Nvt Ex�lusi�e. Trustee and Lender, and each o� �hem, shall be entitled to enfarce payment and
<br /> performan�e of any indeb#edness or obligations secured by this Deed of Trust and to ex�rcise all rights and powers
<br /> under �his �eed of Trust, under the Note, under any vf the Related Documents, or under any other agreem�nt or
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