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2� 17�2791
<br /> DEE� �F TRUST
<br /> ��orltinued� Page 5
<br /> Defectirre Co!lateraliza�ion. This Deed o� Trust or any of the Related Documents ceases to be in �ull �vrc� and
<br /> effec� �including #ailure of any callatera! document to create a �alid and perfected security inter�st �r iienj at any
<br /> ��me and�ar any r�ason.
<br /> Death ar �nso��ency. The dissolution ❑f Trus#�r's ��egardless �� wh�ther efection to continue is mad�}, any
<br /> membe� withdraws from the limited liability company, ❑r any other termination ❑# Trustor's exis�ence as a going
<br /> k�usiness ❑r th� dea�h ❑� any memb�r, the inso[�ency af Trustvr, the appointment of a recei�er for any part of
<br /> Trustor's property, any assignm�nt for the b�nefit af �reditors, any �ype of creditor wvrkout, or �he
<br /> commencement vf any proceeding under any bankrupficy or insol�ency laws by vr against Trustor.
<br /> Creditor or Forfei�ure Prviceedings. Commencement of forec�osure or forfeiture proceedings, whether �y judicial
<br /> proceeding, sel�-help, repossessivn vr any o�her methvd, �y any credi�or of Trusfior or by any go�ernmenta! agency
<br /> against any property s�curing the lnd�latedness. This includ�s a garnishment of any o� Trustor's accoun�s,
<br /> in�lud�ng depasit accounts, with Lender. Howe��r, this E��nt of Default shall nat apply i� there is a good fai�h
<br /> dispute by Trustor as ta the �alidity or �easonableness of the claim which is the basis of fihe �redi�or or to�fei�ure
<br /> pr�ceeding and if Trustor gi�es Lender written nvti�e of the credi�or �r �orfeiture proceeding and d�posits with
<br /> Lend�r monies or a surety bond �for�he credito�o�farfeiture praceeding, in an amvunt determ�ned by Lender, in its
<br /> sole discreti�n, as being an adequate reser�e or b�nd for the dispute.
<br /> Breach vf❑�her Agreemen�. Any hreach k�y Trustvr under the �erms ofi any Qther agreement be'tween Trus�ar and
<br /> Lender that is nvt remedied within any grace period prv�idec� therein, incfud�ng without limita�ion any agreement
<br /> cvncerning any indebtedness ar other v�ligation of Trustor to Lender, whether existing naw vr later.
<br /> ��ents Affec#ing Guarantor. Any of the preceding e�ents occurs wi�h resp�ct ta any Guarantor v� any of the
<br /> lnd�btedness or any Guarantor dies or be�om�s incompetent, ar revokes or disputes �he �alidity af, or liabili�ty
<br /> under, any Guaranty a�the �ndebt�dness.
<br /> Ad�erse Ghange, A ma�eria� ad�erse change ❑ccurs in Trustor`s finan�ial conditian, vr Lender belie�es the
<br /> pr�spec�a�payment o�performan�e of the Indebtedness is impaired.
<br /> �nsecurity. Lender in good faith helie�es �tself inseGure.
<br /> Right to�ure. if any defiau[t, other than a defaul�in payment, is curak�le and �f Trust�r has not�een gi�en a notice
<br /> of a �reach of the same pr��isifln of this Deed of Trust within the prec�ding twelve �1�} months, it may be cured �f
<br /> Trustar, af�er Lender sends w�itten notice�a Trust�r d�manding cure o#su�h default: 4�} cur�s�he de�auft within
<br /> twenty �2�y days; �r ��} if �he cure requires mvre fihan twenty �2Q� days, immediately initia�es steps which
<br /> Lende� deems in Lender's sole discretion to be su#fi�ient t❑ �ure �he de�ault and thereafter c�nt�nues and
<br /> comp�e�es all reasonat�le and necessary s�eps sufficient to prvduce compliance as soon as reasonably p�a�tical.
<br /> R�GHTS AND REMEDIES ON DEFAULT. Lf an E�ent of Default vccurs under this fleed of Trust, a� any time thereafter,
<br /> Trust�e or Lender rnay exercise any one ar more o#the follow�ng �ights and remedies:
<br /> Acceleration Upan Default; Addi�ional Rerraedieso lf any E�en�of De�ault occurs as per the terms ofi the Note
<br /> secured hereby, Lender may declare all Indebtedness secured by this aeed of Trust ta be du� and payabfe and
<br /> the same shall thereupon b�come du� and payable withaut any presen�ment, demand, pratest or notice of any
<br /> kind. Thereafter, Lender may:
<br /> 4a3 Either in p��son or by agen�, with �r without bringin� any action or prviceeding, or by a recei�er
<br /> appointed by a court and withaut regard t❑ the adequacy ❑f i�s se�urity, enter upan and take possession
<br /> of the Property, or any part th�reof, in its �wn name or in the name o�Trustee, and da any a�ts whi�h it
<br /> deems necessary or desirahle tv preser�e the�alue, marketability ar renta�ility o�the Property, or par�of
<br /> the Property or in�erest in #he Property; �n�rease �he income -�ram the Praperty vr protect the security o�
<br /> the Property; and, with or wi�hout �aking passession of the Praperty, sue far or o�herwise �ollect the
<br /> rents, issues and pro�Fifis af�he Property, including those past du� and unpaid, and apply the same, less
<br /> cos�s and exp�nses of ope�ativn and cv�lection attarneys` fiees, to any indebtedness secur�d by this Deed
<br /> of Trust, a!� in such order as Lender may determine. The entering upon and taking possessivn of th�
<br /> Property, �he callectian of su�h r�nts, issues and profi�s, and �he application thereof shall no� cure ar
<br /> wai�e any defaul� ar no�i�e of de�Faul� under this Deed af Trust vr in�alidate any a�# dvne in response to
<br /> such de�ault or pursuan�to such notice of de�ault; and, notwithstanding the cvn�inuanc� in possession of
<br /> the Proper�y or �he colle�ti�n, r�ceipt and applica�ion flf rents, issues or prvfi�s, Trustee or Lend�r shall
<br /> be entit�ed to exercise e�ery right prv�ided fivr in the Note ❑r the Related Documents or by law upan the
<br /> ��currence of any e�ent of defaul�, including the right�o�xercise the powe�of sale;
<br /> 4b� Commenc� an action to fareclose this Deed of Trust as a mortgage, appvint a re�ei�er or speci��cally
<br /> enforce any v�the co�enants hereof; and
<br /> �cy Deli�er to Trustee a w�itten de�laratian vf defaul#and demand f�r sale and a written nv�ic�of defaul�
<br /> and electian to cause Trustor`s interest in the Property to he svld, which noti�e Trustee shall cause to be
<br /> dufy fi�ed for record in the appropriate offices of the County in whi�h the Praperty is iocated; and
<br /> �d� Wi�h respe�t to al� Qr any part of the Personal Property, Lender sha11 ha�e all the righ'ts and �em�dies
<br /> of a secured party und�r the Nebraska lJnifvrm Commercial Code.
<br /> Fvreclosure by Power o�Sate. !f Lender elects�o forecfose by exercise of�he Power vf 5ale herein cvn�ained,
<br /> Lender shall nvti�y Trustee and shall deposit with Trustee �his Deed o�Trust and the Note and such receipts
<br /> and ���dence of expenditures made and secured by thi� Deed of Trust as Trus�ee may require.
<br /> �a3 lJpan receip�of such na�ice from Lender, Trust�e shall caus�to be record�d, published and deli�ered
<br /> �o Trustor su�h Notice o# ❑efault and Nv�ice of Sa�e as �hen required by law and by thrs ❑eed of Trust.
<br /> Trus�ee shali, withour demand vn T�us�or, afiter such tim� as may then bs required hy law and afte�
<br /> recordati�n o#such Natice of Defau�t and afte� Notice �f Sale ha��ng been given as required by �aw, sefl
<br /> the Prvperty a� the �ime and pfa�e of sale fixed by �� in such Notice of Sale, either as a whole, or in
<br /> separa�e lots or parc�is or items as T�us�ee shall d�em exp�dient, and in such order as it may de�ermin�,
<br /> at public aucfiivn to the highest bidder for cash in lawful money o�#he United States payab�e a� the time
<br /> of sale. Trustee shal� deii�er to such pur�haser or pur�hasers �hereof its good �nd sufficient deed �r
<br /> deeds cvn�eying the property so s�ld, but wi�h�ut any co�enant or warran#y, express or implied. The
<br /> re�itals in such deed of any matters or fac�s shall be conclusi�e p�oaf Qf the �ruth�ulness thereaf. Any
<br /> persan, incEuding withvut limi�ation Trustvr, Trustee, or Lender, may purchase at such sale.
<br /> �hf As may be permitted by law, a�t�r deducting all �osts, fees and expenses of Trustee and of fihis
<br /> . Trust, including �osts of e��dence of title in connectian with sale, Trustee shalf app�y the prviceeds o#sale
<br /> t❑ payment o� �i� all sums expended under�he terms o�this Deed o�Trus�or und�r the�erms��the Note
<br /> nat then repaid, including but not limited #o accrued interest and lafie charges, �ii3 all o�her sums then
<br /> se�ured hereby, and �iii� the remainder, i�any, to th� person or persons legally entitled thereto.
<br /> tc} Trus�ee may in the manner pra�ided by law postpone sale of aIl or any partion o#the Property.
<br /> Remedies Not Exclusi�e. Trustee and Lender, and eaGh of them, shall �e enti�led t❑ enfarce payment and
<br /> per�ormance of any ind�btedness or obliga�ions s�cured by this Deed o�f Trust and to exercise a�l rights and powers
<br /> under this D��d of Trust, under the Note, under any of the Related Documents, or under any vther agreement or
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