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<br /> 25. fvsnts olOmisWt frch ot rhe/o//owing occurrences shall constitute an event of de/a�Ift hereunder, lhereicalter an 'Event ol Delault"1:
<br /> le/Any amount payab/a under tha Ob/igations secured by this Daed o/Trust is not paid when due,e/ter giving ef�ect to eny epplieab/e
<br /> grace penod ther�rn, ?
<br /> Ibl Trustor is otherwise in default undor the terms o/the�bl�gafions,
<br /> (cl Trvstor Inifs to observe or perf�rm a!ry ol the covenants;agreemenrs,or condrtions in rhis Deed ol Tn�st,
<br /> (dl Any iepresentation or warranty includi'ng,but nof limited to�any warranty of rrtle made by Tarstor in this Dead o�Trust is/a/se or
<br /> materiapy misiead.�ng, or
<br /> (eJ Trostar s^+.'s or conveys th�e Tiust Property,os any part thereo7,oi any interest therein,or is divested n/its tft/e,or any interest
<br /> rherem,in any manner or way, whether vo/ur,rarily or invo/untarily, wichout the prior viritten consent o1 Bene/ic;ary.
<br /> s6. Aeeb/eratioo or Debr;Foredasuro. Upon the occurrence o/any E'vent ol DefaulG'o�any rirr.e thereafte�unti!such Event of CefeuM is '
<br /> ., curod to the satis/action o/Br.ne`iciary,Benerciary may,at its option,dec/are al/Obligations seeured heraby immediate/y doe and psyeG/e
<br /> and rh.e same shell bear rnterest at the delau/t rata,if any,set/onh in!he Note or thp delault��ate,il any,set lorthfn the most�etan�
<br /> nbliDatio,v covered by the Guaranty,w otherwise a!!he highest rate pennitted by/aw,and,irrespective ol whether Beneficiary exercises
<br /> said oprion,it may,s:irs oprion and rn its sole disc�etion, without any furtlrer notice ar demand ta or upon Tiustor,do ona a more of '
<br /> fhe fol/owing:
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<br /> !a1 Benefrcisry may enter upon, take possession af,manage and operate Ihe T�vst Properfy ar any part thereo�•make repairs and
<br /> � alreradons and do any acts which Benaficiary Jeems proper te protect the securiry thereof,and either with or wit�oat taking '
<br /> �� possess�on,in its own name,sue tor or atherwrse co//ecf and receive rents,issves and profrts,inc/uding those past due and unpaid,and
<br /> appty the s3me,lnss costs and expenses of�peration and coJlaction,including reesonab/e attomeys';;ss and Bene/iciary's costs,upon ' '
<br /> Q� !he Obligarions se�ured hareby and in such order es Benerciary may determine. Upon request of Beneficiary, Trostor sha/l assemb/e and
<br /> ,� shall make available ro Benefrc;ary any ol.he 71ust Property which has Ceen�emo ied. 7'he enienng upon and taking possession of fhe
<br /> Tiusr Propeny, rhe coqection of any renis,issues and profit�,and ihe applicetion thereo(as aforesaid,shel!not cure pr waive any
<br /> � defuu/t theretofore or rAerealter occ�rring,ar afl�ct any notice of de/au/t or notice ol sa/e hereunder o�invalidate any ect done pursuent '
<br /> �^ ro any such natics.Notwrthstanding Beneficiary's continuance in possession or receip:and appliCetron o/rents,issues or profits, '
<br /> � �eneficrary shall be entitled to exercise ave�•ngh!Frovided Jo�in rhis Deed ot Trusr or by/aw upon or a/ter the occurrence o�an fvent
<br /> � of Defaul,,includin�Phe right to exercise rhe power of sa/e.L!ny o/the acfrons refened to in this Section may be taken by Beneficisry at
<br /> �r such time as Benelir,iary may determine without regard to the adp?uecy o/any secunty/or rhe Ob/iQations secure�h.ereby.
<br /> � (bl Ber.e/icrary sh,a!l, wirhout regard to the adequacy of any secur;ty for the Oblrgations secured he�eby,Ce entitled to the appointment
<br /> ef a recerver by any court having;urisdiction, wirhout norice, to:ake possession o%protect,and maaage the Trust Property and operate '
<br /> rhe same and co!lect the rants,issues and profits there.'rom.
<br /> Ic/ Beneliciary may bring any action in sny court al Competent%urisditlion to foret/ose this D,�ed o/Trust or e»lorce en y n/th.e '
<br /> covenents herao/. '
<br /> (d) Beneficiary may elect ro ceuse the Trust Property or Any parf thereof to be sold untYer the power of sale,and in such event, '
<br /> B�neticiary or Trustee shall give such notice of defau/t and notice of ss/e to each parry to this Deed o!Trust by mail a[rha add�ess set '
<br /> Iorth herein and any other notice which may be then roquired by/aw. Therea/ter,upon the expiration o/such tima and the giving o/ '
<br /> such norice ol sa/e as may then be repuired by/aw, Trustee,a1�he time and place specilied by the notice ol sarle,shall sell su:h Trust
<br /> Pioperry,vr any part thereflf speci/ied by 8ene/iciery e�publrc auction ro the highest bidder for cosh in lawfu!money ol the United '
<br /> - States olAmerii:a. Upon receipt of paymertt o/!he 6;71price, Tiustee shal/app/y the proceeds in the fo//uwing orden fi/to the cost and '
<br /> expenses�I exercrsino the power o/sale and ol the saie,induding but not limited ro, trusree's lees of not mo�e than SS00,00 plus '
<br /> one-ha�/ol cne percent o/!he gross sale price,and reasonab/e attomeys'fees,(i;!ro Phe Obligotions,and(iii/the excess,il any, to the '
<br /> person or pe.rsrns legaliy entitled therero.
<br /> All costs and expenses incur�ed by 8eneficiary in enforernq any right under this Deed o/T�ust,ir,cluding wirhoyt limitation,abstract or tirle
<br /> /ees, appraisaJ/ees,premiums for tit/e insurance,atromeys'/ees and courY costs,shall be and constitute Obliga�ions secured hereby.
<br /> 27. Dutles of Frustee. Trustor agrees 7hat:
<br /> !a1 The dur�es and oblrga;rons ol Tiustee shaU be determined solsly by the express provis;ons a/rhis Deed ol T�ust and Tiustee shall not '
<br /> be liable except/or the perlormance of su�h duties and obligaGons as are spa�_ilicali set forth h,erein,and no impfie�covenants or '
<br /> ob;rgations shal!be imposed upon Trustee, Y
<br /> j. (bl No provisron o/this Deed oi Trust shafl req.iire Trustee to expend or nsk its owr,funds,or otherwise incur any financial obligation in
<br /> �'{. the perlormance o/any ot ifs duties he�eunder,or in ihe exercise of sny e/its rights or powars,
<br /> /c1 T'rustee may co„sult with counse/of its own choosing arn1 the advice ot such counse/sha/I be/u//and complete authorization and
<br /> pratection in the respect o/any action taker,or sulJe�ed by it hereunder in yood faith and�eliance thereon,and
<br /> ldJ Trusree shall nor be liable for aay action taken by it in good faith and reasonably believed by it to he authorized or within its '
<br /> discretion or rights or pawers conlerred upon if by th%s Deed of Trust.
<br /> 28. Securi!y Agreemenr end Fixtu�e Filfng.From the dare nl its recording, this Deed�I Trust sha!l constiwte a secu�ity agr ment and
<br /> fixtwe filing under the provisions ol the Nebraska Unilorm Commercia/Code with respect to those fixtures described in the p�e�amb/es hereol
<br /> as consrrrurfng a parr of the Trust Property, rogerher with all other property cf Trustor, eifher srmila�or dissimrlar ro the same,now or '
<br /> herea/fer focated at or on the T�ust Property.For this puipose, the tollowing rnlormar;on is set lorth: -
<br /> lal Name and Address ol OebtoNTrvstor. (b) Naine and Address ol Secu�ed Party/Beneliciary:
<br /> L & P Investments, L.L.C. Norwest Bank Nebraska, National
<br /> - Associa.tion
<br /> 429 Industrial Ln 202 West Third Street
<br /> Grand Island, NE 68d03 Grand Island, NE 68801
<br /> !cJ Debror's Soc�al Se�urity Number/Federal Taxpayer l.D.NumbEr 9�1832349
<br /> !dl This document covers good;wh%ch.are ar are to becrne/ixtures.
<br /> fe) The name of fhe record owner o/rhe Trust Property is th>Debtoi,?ruster des�ribed above.
<br /> 23. futwe Advance;. Benefic;ary, at Benelici;y's oprion,prior to fu//reconveyance nl tha Trust Property by T.-ustee to Trusfor,may make
<br /> future advar.ces to T�usto,-. Sur,h/utvre advanc�:, with interest thereun,sha!!be secured by this Deed ol rrust.At no 7rme shall the princrpal
<br /> amount ol fhe 06ligat,ons seci:red by this Deed ol Trust,not including sums advanced to pro�ect fhe security,exceed fhe rota/sum ol
<br /> 5..1.'..5..�.4 0_0 0
<br /> Nothing herein contained shal!imply any oL;;�ation on the pt:rt oI the Ber,e/iciary ro make any such additiona/advances.
<br /> Advances oI disbursemen�s made by Beneficiary to protect the securi�y, under�h�terms hereot, while disc�etionary,shsll not be deemed�n =
<br /> be op�ional advances.
<br /> 30. Recanveynirce. Upon paymen�o/»ll Obligatrons secured by this peed ol Trusr, Benelici2ry shall iequest Trustee to reconvey the T�usf
<br /> Froperty and s/�a//surrender this Deed of Trust and a!/nctes evidencing Ob/rgatrons secured by this Deed o/Trust to Trustee. T�ustae sha!/
<br /> :°convey the Trus!Property without warranty and without charge to fhe person or persuns legally entit/ed thereto.Such person or personc
<br /> shali N�y all costs of recordation,i/any.
<br /> 31. Subx�itutcd7'rusic�. Qeneficiary,at its option,�ney/rom time to time remove Trustee and appoint a Successor Tiustee to any Trustee
<br /> appnrnted hereunder by en,'r.er�ument recorded in the county in which this Deed ol Trcrst is�ecorded. �thout conveyance ol rhe TrusY
<br /> , Properfy, ,he Successo�Trustee si�ap succeed to al1 tiUe,power and duties conferred upon Tiusree herein snd by epplicab/e low.
<br /> 32. Miseellsneovs R/yhh ol8snellclery, Bone/iciary nrdy al any fime and from tlme►o tir.re, withvut not/ce,consonr to fhe meking oJ eny
<br /> plet o/the Prus�Prope�ty or the creetivn o/any aesement thereon o�any covenan►s r�stricting use or otcupancy thareol oi agiae to a/le�oi
<br /> arnend the�erms c/this Deed o/Trust.Any persona/p:operty remnining upon tha Tnist Property alte�the 77ust Property has becn ppssessed
<br /> or or_t�p,ed by 6ene✓iciary,its agent w any purchaser fol'owing Trustee's sale or/oieclosure,or under any daed in lieu o/Tiustee's se/a or
<br /> loreclosure,sha�/be conclus/ve/y presumed to have been�bandoned by Trustor.
<br /> •ti 33. Trustor hereby reauests tha�a copy o/any notice ol delault and nndce ol sa/e made or execurod by Trustee pvrsuant ro the provisions
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<br /> hereu/be ser�t ro Trustor at its mniling adr!iess sst lorth ebove. '
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