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<br /> , io-o8-1998 DEED OF TRUST 99�.iC��� Page 4
<br /> Loan No 000101 (Continued)
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of
<br /> this Deed of Trust.
<br /> Security Agreement. This instrument shail constitute a security.agreement to the extent any of the Property constitutes fixtures or other
<br /> personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to
<br /> time.
<br /> Security Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other action is requested by Lender
<br /> to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real
<br /> property records, Lender may,at any time and without further:authorization from Trustor,file executed counterparts,copies or reproductions of
<br /> this Deed of Trust as a financing statement. Trustor shall re,imburse Lender for all expenses incurred in perfecting or continuing this security
<br /> interest. Upon default,Trustor shall assemble the Personal Prdperty in a manner and at a place reasonably convenient to Trustor and Lender
<br /> and make it available to Lender within three(3)days after reCeip{of written demand from Lender.
<br /> Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party), from which information concerning the security interest
<br /> granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code),are as stated on the first page of this Deed
<br /> of Trust
<br /> FURTHER ASSURANCES; ATTORNEY—IN—FACT. The following provisions relating to further assurances and attorney—in—fact are a part of this
<br /> Deed of Trust.
<br /> Further Assurances. At any time, and from time to time, upon request of Lender,Trustor will make, execute and deliver, or will cause to be
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
<br /> rerecorded,as the case may be,at su�h times_.�nd 's� such pff,ices 2,�d places as Lender may deem appropriate,any and all such mortgages,
<br /> deeds of trust,security deeds,security agreements,finanoiii��t�itients;continuation statementa, ' -
<br /> and other documents as may, in the sole opinion of Lender,`be"necessary or desirable in order to effectuate, complete, perfect, continue, or
<br /> preserve (a)the obligations of Trustor under the Note,this Deed of Trust,and the Related Documents,and (b)the liens and security interests
<br /> created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br /> law or agreed to the contrary by Lender in writing,Trustor shall reimburse Lender for all costs and expenses incurred in connection with the
<br /> matters referred to in this paragraph.
<br /> Attorney—in—Fact. If Trustor fails to do any of the things referred't'o"in the preceding paragraph, Lender may do so for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appoints Lender as Trustor's attorney—in—fact for the purpose
<br /> of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FULL PERFORMANCE. If Trustor pays all the Indebtedness,when due,,and otherwise performs all the obligations imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execute and deliver to Trustee 8..repuest for full reconveyance and shall execute and deliver to Trustor suitable
<br /> statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any
<br /> reconveyance fee required by law shall be paid byTruStor,if permitted;by!applicable law.
<br /> DEFAULT. Each of the following,at the option of Lender,shall constitute an event of default("Event of Default")under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Trustor to make any paymerit+when due on the Indebtedness.
<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance, or
<br /> any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Default in Favor of Third Parties. Should Borrower or any Trustor default under any loan,extension of credit,security agreement,purchase or
<br /> sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or
<br /> Borrower's or any Trustor's ability to repay the Loans or perform their respective obligations under this Deed of Trust or any of the Related
<br /> Documents.
<br /> Compliance Default. Failure of Trustor to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the
<br /> Note or in any of the Related Documents.
<br /> False Statements. Any warranty, representation or stateme�t made or furnished to Lender by or on behalf of Trustor under this Deed of Trust,
<br /> the Note or the Related Documents i:>false or misleading in any material resp�c!,eitlier now or at tha time made or fu�nished.
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(inciuding failure of any
<br /> collateraf documents to create a valid and perfer,ted seci�rity interest or�ien)at any time and�or any reason.
<br /> Death or Insolvency. The death of Trustor or the dissolution or lermination of Trustor's existence as a going business, the insolvency of
<br /> Trustor,the appointment of a receiver for any part of Trustor's property,any assignment for the benefit of creditors,any type of creditor workout,
<br /> or the commencement of any proceeding under any bankruptcy or insolvency�aws by or against Trustor.
<br /> Foreclosure,Forteiture,etc. Commencement of foreclosure.or forfeiture proceedings,whether by judicial proceeding,self—help,repossession
<br /> or any other method,by any creditor of Trustor or by any govemmental agency against any of the Property. However,this subsection shall not
<br /> apply in the event of a good faith dispute by Trustor as to the v��idity.or reasonableness of the claim which is the basis of the foreclosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender wrilten notice of such claim and furnishes reserves or a surety bond for the claim
<br /> satisfactory to Lender.
<br /> Breach of Other Agreement. Any breach by Trustor under#fie terms bf any other agreement between Trustor and Lender that is not remedied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obligation of Trustor
<br /> to Lender,whether existing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes incompetent,or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br /> performance of the Indebtedness is impaired. `
<br /> Insecurity. Lender in good faith deems itself insecure. •
<br /> RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of anyEvent of Default and at any time thereafter,Trustee or Lender, at its option,
<br /> may exercise any one or more of the following rights and remedies;irr addition to any other rights or remedies provided by law:
<br /> Acceleration upon Deiault; Additional Remedies. If any eVent of default occurs as per the terms of the Note secured hereby, Lender may
<br /> declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without
<br /> any presentment,demand,protest or notice of any kind. Thereafter,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without
<br /> regard to the adequacy of its security,enter upon and take possession of the Property,or any part thereof,in its own name or in the name
<br /> of Trustee,and do any acts wnich it deems necessary'or desirable#o preserve the ralue,maricetsbiiity cr rer�taf;i;iky of the?rope�ty,or part
<br /> of the Property or interest in the Property;increase the income from the Property or protect the security of the Property;and,with or without
<br /> taking possession of the Property, sue for or otherwise,collect,'the rents, issues and profits of the Property, including those past due and
<br /> unpaid, and apply the same,less costs and_.expenses qf;o��ration and collection,including attorneys'fees, to any indebtedness secured
<br /> by this Deed of Trust,all in such order as Lender may determine.'`The entering upon and taking possession of the Property,the collection
<br /> of such rents,issues and profits,and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust
<br /> or invalidate any act done in response to such default or pursuant to such notice ot default; and, notwithstanding the continuance in
<br /> possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall be entitled to
<br /> exercise every right provided for in the Note or the Related Documents or by law upon the occurrence of any event of default,including the
<br /> right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the covenants
<br /> hereof;and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause Trustor's
<br /> interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the appropriate offices of the County in
<br /> which the Property is located;and
<br /> (d) With respect to all or any part of the Personal Prope�ty, Lender shall have all the rights and remedies of a secured party under the
<br /> Nebraska Uniform Commercial Code.
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