|
202400425
<br />regulations, and have legal authority in such states to conduct Trustor's business operations and to own
<br />agricultural real estate. No change has been made in the name, ownership, control, relationship, legal status,
<br />or organizational and formation documents of any undersigned since the time any such information was last
<br />provided to Lender. Any borrowing resolution or similar document provided to the Lender, whether on
<br />Lender's form or otherwise, has been executed by all those with an ownership interest in the Trustor's entity
<br />and such designated signor as set forth in the borrowing resolution is duly authorized to execute any and all
<br />Loan Documents on behalf the entity, including this trust deed.
<br />5. All known sources of existing or potential environmental contamination on or near any Real Property owned
<br />or operated by Trustor has been fully disclosed to Lender; the operations of Trustor comply, and during the
<br />term of this trust deed will at all times comply in all respects, with all environmental laws; Trustor has obtained
<br />and will maintain all licenses, permits, authorizations and registrations required under any environmental law
<br />and necessary for its ordinary course operations, all such environmental permits are in good standing, and
<br />Trustor is in compliance with all material terms and conditions of such environmental permits; neither Trustor
<br />nor any of its present Property or operations is subject to any outstanding written order from or agreement
<br />with any governmental authority or subject to any judicial or docketed administrative proceeding, respecting
<br />any environmental law, environmental claim or hazardous material; there are no hazardous materials or other
<br />conditions or circumstances existing, or arising from operations prior to the date of this trust deed, with respect
<br />to any Property of Trustor that would reasonably be expected to give rise to material environmental claims.
<br />In addition, Trustor shall hold Lender harmless from any liability for environmental waste or contamination on
<br />any Property owned or operated by Trustor or liability imposed as a consequence by reason of Trustor's
<br />activities and will defend and indemnify Lender against all claims, losses, liabilities, and expenses incurred
<br />by Lender as a result thereof. This covenant will survive cancellation, expiration or termination of this trust
<br />deed.
<br />6. Each of the following shall constitute an event of default:
<br />a. Failure to make any payment when due under any Loan Document or other Obligation secured by
<br />this trust deed.
<br />b. Failure to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any
<br />insurance on the Property, buildings, fixtures, attachments, or improvements as provided in this trust deed,
<br />or in any other Loan Document.
<br />c. Any breach or material misrepresentation of any term, agreement, covenant, condition, certification,
<br />representation or warranty as provided in this trust deed, or any other Loan Document.
<br />d. Sale, transfer, or conveyance of the Property described herein without prior written consent of Lender.
<br />e. Any use of loan proceeds for a purpose that will contribute to excessive erosion if highly erodible land or
<br />to the conversion of wetlands to produce or to make possible the production of an agricultural commodity,
<br />as provided by 7 CFR Part 12.
<br />f. The death, dissolution or insolvency of any Trustor; the appointment of a receiver for any Trustor or their
<br />Property; any assignment for the benefit of creditors by the Trustor; or application of any debtor relief law
<br />to Trustor, including any type of workout or commencement of proceeding under any bankruptcy or
<br />insolvency laws by or against any Trustor or Borrower on any Loan Document or other Obligation secured
<br />by this trust deed.
<br />g. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation
<br />party of any of the Obligations or any guarantor, endorser, surety, or accommodation party dies or becomes
<br />incompetent, or revokes or disputes the validity of, or liability under, any guaranty of the Obligations.
<br />7. In the event of a default and at any time thereafter, Lender, at its option, subject to any requirements
<br />under the Farm Credit Act or other applicable federal or state law, may exercise one or more of the following
<br />rights and remedies, in addition to any other rights or remedies permitted by law:
<br />a. Declare all Obligations secured hereby to be immediately due and payable and the whole will bear
<br />interest at the default rate as provided in the Loan Documents.
<br />b. Lender may immediately authorize Trustee to exercise the power of sale granted herein in the manner
<br />provided in the Nebraska Trust Deeds Act, or, at the option of the Lender, may foreclose the trust deed in
<br />the manner provided by law for the foreclosure of mortgages on real property, including the appointment of
<br />a receiver upon ex parte application, notice being hereby expressly waived, without regard to the value of
<br />the property or the sufficiency thereof to discharge the indebtedness secured hereby or in the Loan
<br />Documents.
<br />FORM 5011, Trust Deed and Assignment of Rents 276RS Legal Doc. Date: January 22, 2024
<br />Page 5 of 9
<br />
|