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2� 17�2878
<br /> DEED DF TRUST
<br /> ��ontinued� Page 5
<br /> �rantor's vbligati�ns und�r this Deed a#Trus�t or any vf the Reiated Dvcuments.
<br /> False 5ta#�ments. Any warranty, representati�n or statement made or furnished �a Lender by Trustor vr on
<br /> Trustor's behalf under this Deed of Trust or the Relafied Documents is �alse or misleading in any material resp�ct,
<br /> either now vr at the�ime made or furnished or becomes false or misieading at any time thereafter.
<br /> Defective Collateralizat�vn. This Deed af Trust or any of the Related Documents ceases to be 'tn fufl force and
<br /> �ffect �including failur� of any collateral docum�n� to create a �alid and perfected security interes� or lien} at any
<br /> tim� and fiar any reason.
<br /> Dea#h vr Insol�ency. The d�ssolu�ion of Trustor's 4regardless o� whether efe�tion to continue is made�, any
<br /> member withdraws �rom �the �imited liability cvmpany, ar any ❑ther t�rminat�on o� Trustor's exis�ence as a going
<br /> husiness or the death of any member, the insol�ency of Trustor, the appvintmen� of a recei�er fo� any part of
<br /> Trustor's prvperty, any assignment f�r the benefit of creditors, any �ype �f cred�tor workout, or the
<br /> commenc�ment af any proce�ding under any bankrup�cy or insal�ency la�rvs by or against Trus�or,
<br /> Creditor ❑r Fvrfei#ure Proceedings. Cvmmencement of fvreclasure or forf�iture proceedings, whether by �udicial
<br /> proceeding, se[f-help, repassession ar any Qther method, by any credi�vr of Trustor or by any go�ernmen�al agency
<br /> agains� any property s�curing �h� Indeb�edness. This includes a garnishment of any of Trustor`s accaunts,
<br /> including deposit accounts, wi�h Lender. Howe�er, this E�ent of Default shall not apply if �here is a gaod faith
<br /> dispute by Trustar as t� the �alidity or reasonabieness of the claim wh�ch is �he basis ❑f the c�editvr or forfeiture
<br /> proce�ding and i� Trustor gi�es Lender written n�tice of �he creditor or forfei�ure proceeding and deposits w�th
<br /> Lender monies or a surety bond for the creditor vr�vrfeiture praceeding, in an amount de�ermined by Lend�r, in i�s
<br /> sole d�scretion, as being an adequate reserve or�ond for th� dispute.
<br /> BreaGh o��]ther Agreement, Any brea�h t�y Trustor unde�the terms �f any other agreement be�rrveen Trustor and
<br /> Lender that is nvt rem�died within any grace period pro�ided therein, including without i�mitatian any agreem�nt
<br /> concerning any indebtedness or other ob[igation of Trustor tv Lender, whe�her existing now or later.
<br /> Events A�ecting Guarantar. Any af th� preceding e�ents accurs with respe�t to any Guaran�or o� any �f the
<br /> lndeb�edness or any Cuarantor dies or be�omes in��mpetent, or re�okes or d�sputes the �alidity vf, or liabi�ity
<br /> under, any Guaranty of the Inde�tedness.
<br /> Adverse Ghange. A mater�al ad�erse change �ccurs in Trustor's finan��al condition, ❑r Lender belie�es the
<br /> prospect vf payment or p�r�ormance o�the Indebtedness is impaired.
<br /> Inse�urity. Lender in govd fai#h belie�es itsel�insecure.
<br /> Right to Cure. If any default, other than a default in payment, is curahle and if T�ustvr has not �een gi�en a notice
<br /> af a breach ofi the same pro�ision af this �eed of Trust within the preceding twel�� {�2j months, it may be cured if
<br /> Trustor, af�er L�nder sends writ�en notice to Trusto�d�manding cure of such default: �1� cures�he default within
<br /> �wenty t2�} days; or �2� i�f the cure requi�es more than twenty �2�} days, immedia�ely initiates s�eps which
<br /> Lend�� deems in Lender's sole discre�ion to be suffi�i�nt to cure the default and �herea�te� con�inues and
<br /> comple�es al� reasonab{e and n�c�ssary s�eps sufficien#to produce compl�ance as soan as reasonably practical.
<br /> RlGHTS AND REMEDIES DN DEFAULT. If an E�ent of Default occurs under this Deed v�Trust, at any time �hereafter,
<br /> Trustee ar Lender may exercise any one vr rnore of the foflowing rights and remedies:
<br /> Accel�ration Upon D�fault; Additivnal Remedi�s. If any E�en�of Defauit occurs as per the �erms of the Note
<br /> secured hereby, Lender may d�c�are all �ndebtedness se�ured by this ❑eed vf Trust to be due and payabfe and
<br /> �he same shall thereupon be�ome due and payable without any presentment, demand, prot�st or natice o�any
<br /> kind. Ther�af�er, Lender may:
<br /> ta� Ei�her in persan or by agent, with or withvu� bringing any ac#ion or proceeding, or by a recei�e�
<br /> appoin�ed t�y a court and wi�hvut regard to the adequacy ❑f its security, enter upon and take possession
<br /> o�the Property, vr any par�thereo�,�in its own name vr in�h� name of Trus�ee, and dv any ac�s which it
<br /> deems necessary or desirak�ke to preser�e�h� �alue, marketability or rentability vf#he Praperty, or part of
<br /> �he Property or interes� in �he Praperty; increase the income �rvm the Property v� protect�he securi#y o#
<br /> the Property; and, wi�th ar withaut taking possession of the Property, sue far or otherwise collect '�he
<br /> rents, �ssues and profits o�the Proper�y, including those past due and unpaid, and app�y the same, iess
<br /> cvsts and exp�nses of ap�ration and co�lection attorneys` fees, to any indebtedness secured by this Deed
<br /> af Trust, all in such order as Lender may determine. The enter�ng upon and taking possessian v� th�
<br /> Prope�ty, the collec�ion of such rents, issues and prafits, and the applicatinn thereof shall nat cu�e or
<br /> wai�e any de�aul�or notice of defaul� under th�s Deed of Trust or in�alidate any act dane in response to
<br /> such default❑r pursuant to such notice of default; and, natwithstanding th�continuance in passession af
<br /> �h� Property or the callection, rece�pt and applica�ion o� rents, issues or profits, Trustee or Lender shall
<br /> be entitled to exercise e�ery right pro�ided for �n the Note or the Refated ❑ocum�nts ❑r by law up�n the
<br /> occurrence of any e�en�❑f default, including th� right to exercise the pvwer af sale;
<br /> �b� Cammence an ac�ivn tv fioreclose this Deed of Trust as a mo�tgage, appvint a �ecei��r or specificaily
<br /> enforce any of the �o��nants hereof; and
<br /> �c� Deli��r to Trustee a written declaration of default and demand for sale and a wri��ten notice of defauft
<br /> and electivn to cause Trustor`s in�erest in the Properfiy to be s�ld, which notice Trustee shall cause�o be
<br /> duly���ed for record in the apprapriate o�#ices of the Coun�y in which the Praperty is located; and
<br /> �d� With respect�v all ar any part��the Personal Property, Lender sha[� ha�e all the rights and remedies
<br /> af a se�ured par�y und�r the Neb�aska Unifarm Cvmmer�ial Cod�.
<br /> Forecl�sure by Power of Sale. If Lender elec�s ta�areclase by�xercise of the Pov►rer of 5ale herein contained,
<br /> Lender shafl notify Trust�e and shall deposit with Trus�ee this ❑eed of Trust and �the Nvte and such receipts
<br /> and e�idence❑�expend'€tures made and secured by this Deed��Trus�as Trustee may require.
<br /> �a� Upon receipt a�such nvtice frvm Lender, Trus�ee shal! cause tv be recvrded, published and deli�ered
<br /> to Trustor such Notice of Default and Notice of Sale as then required by law and by �his Deed ❑f Trust.
<br /> Trustee shall, ►neithout demand on Trustvr, after such �ime as may �hen be requ�red by law and af�er
<br /> recordation �f such Notice o� De#ault and a�ter Notice of 5ale ha�ing been gi�en as required by �aw, se��
<br /> the Prop�rty at �he time and p�ace of sale fixed by it in such Notice of 5ale, either as a v►►hvle, ❑r in
<br /> separate la�s or par�els ar it�ms as Trust�� shall deem expedient, and in such order as it may determin�,
<br /> at puhEic auction �o the highest bidder for �ash in iawful m�ney o��he United 5tates payabfe at the �ime
<br /> af sale. Trustee shall deli�er ta su�h purchaser o� purchasers thereof i�s gaod and suf�icient deed or
<br /> deeds con�eying �he property so sald, �ut without any c��enant or wa�-ran�y, express or impli�d. The
<br /> recitals in such deed of any matters or facts shall be conclusi�e prao# of the truthfulness �her�vf. Any
<br /> person, �ncluding without limitation Trustor, Trustee, or Lender, may purchase at such sale.
<br /> �b� As may t�e permitted by law, after deducting all costs, fees and expenses o� Trustee and af this
<br /> T�ust, including costs af e�idence of ti�le in �onne��ion w�th sale, Trustee shall app�y the prviceeds�f sale
<br /> �v payment of �iy all sums expended under the terms of this Deed of T�ust ar under the�erms vf the Nvte
<br /> not then repaid, including but not [imited t� accrued interest and late charges, �ii3 a11 oth�r sums then
<br /> secured hereby, and tiii� the r�mainder, if any, tv the persvn ar persans legally enti�ied thereto.
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