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2� 17�2271
<br /> [3EEa �F TRUST
<br /> Loan Nfl: ��7 30�57� ���ntinu�d� .Page 3
<br /> Proper�y pr t❑ compiy with any obligation to ma�n�ain Existing lndehtedn�ss in gpod s�anding as required �elovu, �hen
<br /> Lender may do 50. If any ac�ion ❑r pro�eeding is commenced that w�ujd materia��y affec� Lender's interests in �he
<br /> Property. thsn Lender an Trus�or's behatf may, but �s na� required t�, take any action �ha� Lender beli��es �o be
<br /> appropriate �o pratec� Lender's interests. All expenses incurred or paid by L�nder �or such purposes wi11 �hen bear
<br /> interes� a� the ra�e charged under �he Gr�d�t Agreement �r�m the date incurred ❑r paid hy Lender �v the date o�
<br /> repayment by Trustor. A�i such expenses will became a part vt�he Indsb�edness and, at Lender's �ptian, will {A� be
<br /> payabie an demand; �Sy be added to �he balance af the Credi�Agreement and be appvrtioned among and be payab�e
<br /> with any ins�aitment payments ta becvme due during either {'�} the term ❑f any applicable insurance�alicy; or �2� �he
<br /> remaining term of the Credi�Agreement; or {C� be treated as a hallvon payment which v►ri�l be due and payable a�the
<br /> �redi�Agreemen�'s maturi�y.
<br /> VII�IRRAIVTY;DEFENSE�F T�TLE. The�o��owing pro�isions relating to�wnership af the Property are a part of th�s�eed
<br /> o�Trust:
<br /> Title. Trus�or� warrants that: �ay Trus�ar halds gvod and marke�ab�e t�tl� a� record to �he Property in�ee simple,
<br /> free and c[ear of ali [�ens and encum�rances o�he� �han those set �orth in the Real Property descriptian ❑r in the
<br /> Exis�ing Indebtedness sectivn be�aw ❑r in any title insurance palicy, tiYle repvrt, ar tina�ti#le opinian issued in#a�vr
<br /> of, and accepted by, Lender in connecti�n with �his Deed a#Trus�. and �b} Trus�ar has �he fiull �ight, p�wer, and
<br /> authari�y to execute and deliWer th�s C�eed of Trust to Lender.
<br /> Defense of Ti�le. Sub�ect tfl �he exception in the paragraph above, Trus�or warran�s and wiil #o�ever defend �he
<br /> titie�❑the Property agains�the law�u�claims o�a�! persons.
<br /> E�15TlNG INDEBTEDNESS. The#allawing provisians conGern�ng Existing Indeb�edness are a part af this Deed❑�Trust:
<br /> Exi�t�ng Lien. The I�en o� this Deed ❑f Trust securing the Indeb�edness may be se�ondary and inferior ta an
<br /> existing lien. Trustor expressly�o�enants and agrees to pay, ar se�to�he paymen�vf� the E7�isting indebtedness
<br /> and to pre�ent any defaui�on such indebtedness, any de�ault under�he instruments evidencing su�h ine�ebtedness,
<br /> �r any defaul�under any security dacuments�ar su�h�ndebtedness.
<br /> EVENTS QF DEFAlJLT. Trus�n�wi[I be �n detault under this Deed v#Trus�i�any o�the �ollvwing happen: {A} T�ustor
<br /> cammits �raud or makes a mat�rial misrepresentativn at any �ime in cnnnec�ian with the Credit Agreement. This can
<br /> include, �or examp�e, a false s�atemen� abou� Trustor's income, assets, �iabili�ies, or any other aspec�s af Trust�r's
<br /> �inanciai Gondi��vn. �B} Trustor d�es nat meet�he repayment terms of�he C�edit Ag�eement, �C} Trus�or's action or
<br /> inaction advers�iy affects the co!latera� ❑r Lender's righ�s in the c�liateral. This can include, �Far example. failure tv
<br /> maintain required insurancer waste or destruc�i�e use���he dwel�ing.�a;lure ta pay taxes� death of aI� persvns liabie vn
<br /> �he accoun�, transfer of ti�le ❑� saie v� the dweifing, crea�ivn of a senior lien on the dwelling wi�hout Lender's
<br /> permissian, fareclasure by�he hvi�er of ano�her lien,❑r the use o�#unds or the dwelling for prohibi�ed purposes.
<br /> RlGHTS ANQ REMEQIES �N DEFAULT. �Jpon the ❑ccurrence o� any Event of Qefau�t under any indeb�edness, or
<br /> sh�uld Trustor fail �o comply►rv�th any of Tru�tvr's obiiga�ions under this Deed v�Trust,Trustee ar Lender may exerGise
<br /> any one or more af the fo�lowing righ�s and remedies:
<br /> Acceleratian Upon Defau�#:Addi�ional Remedies. If any Event❑#De�ault occurs as per th�terms of the Credi�
<br /> Agreem�n�secured hereby. Lender may declare all lndeb�edn�ss secured by this Deed vf Trust to be due and
<br /> payahle and the same shali thereupan became due and payab�e withou�any presentmentr demand. pratest or
<br /> notic�❑�any kind. Ther�after, Lender may:
<br /> �ay Either in person or by agen�, with v� withvut bringing any action vr.proceeding, or by a rece�ver
<br /> appvin�ed by a caur�and withaut regard ta the adequacy a� its securi�y. enter upon and�ake possessian
<br /> v�the Proper�y, or any part thereof. in its own name or�n the narne a�Trus�ee. and da any acts wh�ch it
<br /> deems necessary or desirable ta preserve the Wa�ue, marketabi�ity or r�ntabili�y af the Prvper�y, or part o�
<br /> the Pr�perty vr�interest in the Prvper�y; increase the incvme from the Property or prvte�t the securi�y af
<br /> the P�raperty; and, with or withvut taking possession ❑� the Prvperty, sue �or or atherw�se coliect the
<br /> ren�s, issues and pro�its nf�he Property, 'rnc�uding thvse pas� due and unpaid, and app�y�he same, less
<br /> cvsts and expenses of❑peratian and collection attorneys' �ees,�o any indeb�edness se�ured hy this �eed
<br /> o��Trust, a!I �n such arder as Lender may de��rmine. The en�ering upon and taking possession ❑� the
<br /> P�operty� the collection of such rents, issues and profits, and �he application thereof sha�i nv� cure ar
<br /> wai�e any de�ault❑r not�ce o�default under�his �eed of Trust❑r �n�al�date any ac�dvne in �•esponse �o
<br /> such default or pursuant�o such notice of defaul�; and, no�withstanding the cvn�inuan�e in possession o�
<br /> the Praper�y or the ca�lec��vn, receipt and app�ication ❑f rents. issues or pro�its� Trustee vr Lender shafi
<br /> be en�it�ed to exercise eWery right pro�ided �or in �he Credit Agreemen� vr the Rela�ted [Joc�ments or by
<br /> law upan the occurrence of any��ent❑f de�ault.including the right to exercise�he power of sale;
<br /> tb� Cammence an activn�o#are�iase thjs Deed of Trust as a martgage, appoint a rec�i�er ar specifically
<br /> enfvrce any❑�the cv�enan#s he�eof; and
<br /> tc� �e[i�er ta Trustee a written dec�aration of defaul�and dernand for sale and a written no�ice af de�au�t
<br /> and �fectian to cause Trus��r`s in�erest fn the Prvperty ta be svid. whi�h natice Trus#ee shall cause#o be
<br /> duly�iled�or re�ord in�the appropria�e offices a��he Gvun�y in which the Prope�y is located; and
<br /> �d� With respec�to a!I ❑r any par�o�the Personal Proper#y, Lender shal� ha�e a��the righ�s �nd remedies
<br /> ��a secured par�y und�r the Nebraska Uni�orm Cammercia! Cade.
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