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2� 17� 1599
<br /> DEED �F TRUST
<br /> ��ont�nu�d� Page 5
<br /> e�ther naw ar at the t�me made or furnished or becomes false or misleading at any time thereafter.
<br /> Dafecti�e Coll�teralization. This Deed of Trust ❑r any of the Related D�cuments ceases to be in full #��cs and
<br /> effe�t tin�luding failure of any �ollat�ra� dacument tv create a �alid and perfect�d security interest or lieny at any
<br /> time and fvr any reason.
<br /> Deeth vr Insvl�ency. The dissolution of Trustar's �regardless a# whether e�ectian t❑ continue is made�, any
<br /> member withdraws from the limited �iability company, or any other terminat+vn af Trustar's existence as a g�ing
<br /> #�usin�ss or the death af any member, the ins���ency of Trustor, the appointment of a recei�er for any part of
<br /> Trustor's property, any assignment far the benef�t of creditors, any type �f ��editor workout, or the
<br /> commencement vf any proG�eding under any hankruptcy o�insal�ency laws �y ar against Trustor.
<br /> Creditor vr Fvrferture Proceedings. Commencement of fore�losure �r forfeiture proceedings, whether by judi�ia�
<br /> praceeding, self-help, repossession or any nther me#hod. by any credi#or af Trustor or by any governmental agency
<br /> agains� any property securing the Indebtedness. This includes a garnishment of any of Trustvr's accounts,
<br /> including depasit a�counts. with Lender. Howe�er� this E�ent of Default shall not apply if there is a good faith
<br /> dispute by Trustor as to the �alidity or reasonableness vf the cla�m which is the basis of#he �redi#or or fvrfei�ure
<br /> proceeding and if Trustor gi�es Lend�r written nvtic� ❑f the creditor or farfeitu�e proceeding and deposits with
<br /> Lend�r monies or a sursty bond for the credit�r or farfeiture proceeding, in an amount determined by Lender, in its
<br /> � sole discretivn, as being an adequat�reser�e ar hond far the dispute.
<br /> Brea�h of Dther Agreement. Any �reach by Trustor under the terms of any other agreement betw�en Trustor and
<br /> Lende� #hat is not remedied within any grace period pro�ided ther�in, including w�thvut limitation any agreement
<br /> con�erning any�ndebtedness vr other obligation of Trustor to Lender, whether existing now or la�er.
<br /> E�en#s Affecting Guarantvr. Any of the preceding e�ents ❑ccurs with respect ta any Guarantor of any of the
<br /> �ndehtedness or any Guarantor dies or becom�s incompetent. vr re�vkes or disputes the �alidity of. or Itability
<br /> under, any Cuaranty of the�ndebtedness.
<br /> Ad�erse Change. A material ad�erse change occurs in Trustor`s financial condition, or Lender helie�es the
<br /> praspect of payment or per#ormance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good#aith belie�es itsslf insecure.
<br /> Right to Cure. I�any default, other than a de#ault in payment, is �urable and �f Trustor has not been gi�en a notice
<br /> of a breach of the same prv�ision of this�eed of Trust within the preceding#wel�e �1�f months� it may be�ured if
<br /> Trustar. after Lender sends written notice to Trustor demanding �ure of such d�fault: t 1 y cures the default within
<br /> twenty �24y days; vr ��y if the cuce requir�s more than twenty ��Dy days, immediately initia#�s steps which
<br /> Lender deems in Lender's sole discretion to be su#ficient to cure the de#ault and #hereafter c�ntinues and
<br /> completes ai!reasonahle and necessary steps sufficient to produce compi�ance as soon as reasonably practical.
<br /> RIGHTS AN� RENIEDIE5 ❑N DEFAULT. I#an E�ent of Defau�t o�curs under this Deed of Trust, at any t�m� therea#ter,
<br /> Trustee or Lendsr may exer�ise any one or mo�e of the fvllvwing rights and remedies:
<br /> Acceleration Up�n �efault; Additional Remedies. If any E�ent of Default occurs as per the terms of the Note
<br /> secured hereby, Lender may dsclare all lndebiedness se�ured by this Deed❑f Trust to be due and payabls and
<br /> the same shall thereupan become due and payable withvut any presentment, demand. prvtest or notice af any
<br /> kind. Thereaf#er, Lender may:
<br /> �a� Eith�r in person vr by agent� with or withaut br�nging any action or proceeding, �r by a recei�er
<br /> appointed by a court and without regard to the adequacy of its security. enter upon and tak�passession
<br /> of#he Property, ar any part therea�, in its own name or in the name of Trustee, and do any acts which it
<br /> d�ems necessary vr desirahle to preser�e the �afue. marke#ability or rentability❑f the Property, ar part vf
<br /> the Property �r interest in the Property; increase the in�ome from the Property �r pratect the security vf
<br /> the Property; and, with or without taking p�ssession vf the Property. sue for �r o#herwise collect the
<br /> rents, issues and prafiits of the Property. incfuding those past du� and unpaid, and apply #he same� less
<br /> cvsts and exp�nses of operation and collection attvrneys' fees. tv any indebt�dness secur�d by this Deed
<br /> of Trust, a�ll in such order as Lender may determine. The entering upon and taking possession o# the
<br /> Property, the calE�ction ❑f such rents, issues and profits, and the appli�ati�n th�reof shall not cure ar
<br /> wai�e any de�ault or notice of default under this ❑e�d vf Trust or in►►alidate any act dvne in respflnse to
<br /> such default or pursuant t�such natice o#default; and, nvtwithstanding the cantinuance in possession of
<br /> �he Property or the cvllect�on, r�ceipt and appli�ation vf rents, issues or profits, Truste� or Lender shall
<br /> be entitled to exercise e�ery right pro�ided f�r in the Note vr the Related Documents or by law upon th�
<br /> occurrence of any e�ent of default. including the right to exercise the power o#sale;
<br /> �b� C�mmence an action to foreclase this Deed vf Trust as a mortgage, appoint a recei�er or spe��tically
<br /> enforce any af the co�enants here�f; and
<br /> �c� Deli�er ta Trustee a written d�claration of default and demand�or sale and a written notice o�default
<br /> and electi�n to cause Trustor`s interest in the Property to be sold, which n�tic�Trustee shal�cause ta be
<br /> du�y filed far record in the apprapriate o#fices vf the County in whi�h the Prvperty�s iocated; and
<br /> 4df VlJith respect#o all ❑r any par�of the �ersonal Property, Lender shall ha�e al1 the rights and rem�dies
<br /> of a secured party under�he Nebraska llniform Commercial Code.
<br /> Fore�lasure by Powar of S�le. If Lender�lects to fareclvs�by exercise af ths Power of Sale herein contained.
<br /> Lender shall nvtify Trust�e and shalt deposit with Trustee this ❑e�d of Trust and the Note and such receip�s
<br /> and s��dence of expenditures made and secured by this Deed a#Trust as Trustee may require.
<br /> {aj Upan receipt�f such notice from Lender, Trustee shall �ause ta be recorded, puhlished and de���ered
<br /> to Trustor such Notice vf Default and Nvtice of 5ale as then required by �aw and hy this Deed of Trust.
<br /> Trustee shall, without demand on Trustor� after su�h time as may then be required by law and a#ter
<br /> re�ordation �f su�h Natice of Default and after Notic� of 5ale ha�ing bsen gi►►en as required by iaw. sell
<br /> the Praperty a# the time and place nf sale fixed by it in such Notic� of Sale. either as a whol�. or in
<br /> separate �ots or parCels❑r items as Trustee shall de�m expedient, and in such ord�r as Et may determine,
<br /> at public auction t❑th� highest bidder for cash in lawfu! m�ney af the Uni�ed 5tates payable at the tim�
<br /> of sale. Trust�e shall deli�er #o such purchaser ❑r purchasers there�f its gvvd and sufficient deed or
<br /> deeds con�eying the property sv s�id. but wi#hout any co�enant o� warran#y. express ❑r implied. The
<br /> recita�s in such deed ❑f any matters or facts shail be conclusi�e proof of the truthfulness thereo#. Any
<br /> persan, including w�thout limitation Trustvr, Trustee, or Lender, may purchase at such saie.
<br /> �by As may be permitted by �aw, after deducting all costs, fees and expenses of Trustee and of �his
<br /> Trust, in�luding costs vf e�idence of title in c�nne�tian with sale,Trustee shali apply the proceeds af sale
<br /> t�payment of �iy all sums expended under the tsrms of this Deed af Trust or under the terms of the Nate
<br /> nat then repaid, including hut nvt iimited to accrued interest and late charges, �iiy al1 other sums then
<br /> secured hereby, and �iiiy the remainder, i�any, to#he person or pers�ns legally entitlsd theretv.
<br /> �cf Trustee may in the manner pro�ided by law pastpone sale of a��❑r any portion❑f the Property.
<br /> Remedies Nvt Exclusi�e. T�ustee and Lender, and each of them, sha11 be entit�ed tv enforce payment and
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