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200401100 D. Upon the occurrence of any default hereunder, Beneficiary shall have the option to foreclose this Trust Deed in the manner provided by law for the foreclosure of mortgages on real estate. E. Beneficiary may from time to time substitute a successor or successors to any Trustee named herein or acting hereunder. Upon such appointment and without reconveyance to the successor Trustee, the latter shall be vested with all title, powers and duties conferred upon any Trustee herein named or acting hereunder. Each such appointment and substitution shall be made by written instrument and executed by Beneficiary, containing reference to this Trust Deed and its place of record, which, when recorded in the office of the Register of Deeds of the county or counties in which said property is situated, shall be conclusive proof of proper appointment of the successor Trustee. The foregoing power of substitution and the procedure thereof shall not be exclusive of the power and procedure provided for by law for the substitution of a Trustee in the place of the Trustee named herein. F. Trustor covenants and agrees that upon any conveyance, assignment or transfer of their interest in the premises during the term of the Trust Deed Promissory Note secured hereby without the written permission of the said Beneficiary, the Beneficiary shall have the option of declaring the unpaid balance immediately due and payable, and if said sum remains unpaid for fifteen days thereafter, Beneficiary can cause Notice of Default to be given and the premises be sold as provided herein. G. As additional and collateral security for the Trust Deed Promissory Note and effective forthwith upon filing of a Notice of Default, this instrument shall serve as an assignment by the Trustor to the Trustee, of all rents and revenues resulting from the property and Trustee is authorized to take possession of the property, rent or lease the same on terms he deems best and to collect the rents and revenues and apply the same upon unpaid interest, principal, taxes or insurance premiums or for maintenance and preservation of the premises. H. Beneficiary is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the Property or part thereof, or for conveyance in lieu of condemnation. Beneficiary shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings, and shall also be entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion of the Property is so taken or damaged, Beneficiary shall have the option, in its sole and absolute discretion, to apply all such Proceeds, after deducting therefrom all costs and expenses incurred by it in connection with such proceeds, upon any indebtedness secured hereby and in such order as Beneficiary may determine or to apply all such Proceeds, after deductions, to the restoration of the Property upon such conditions as Beneficiary may determine. Any application of Proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. I. The waiver by Trustee or Beneficiary of any default of Trustor under this Trust Deed shall not be deemed to be a waiver of any other or similar defaults subsequently occurring. J. The designation " Trustor" herein shall extend to and apply to the undersigned, singular and plural and the covenants and agreements of the Trustor herein shall be binding upon heirs, devisees, executors, administrators, successors and assigns of the parties. K. This Trust Deed shall be construed according to the laws of the State of Nebraska, and the Trustee and Beneficiary shall have all of the benefits and rights made available by the Nebraska Trust Deeds Act as the same now exists as well as any additional rights which may be created in them under any amendments thereof. L. Trustor further understand that as long as there is a principal amount remaining unpaid no major renovation or remodeling to the building located on the premises will be made by Trustor without the written consent of the Beneficiaries. A breach of this agreement shall be considered a default. 4