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<br /> 25. Events of Defau/t. Each of the fo//owing occunences sha//constitute an event of defau/t hereunder, (hereinafter an "Event of Defau/t"1:
<br /> (al Any amount payable under the Obligations secu�ed by this Deed of Trust is not paid when due, afte�giving effect to any applicable
<br /> grace period therein,
<br /> (bl Trustor is otherwise in default under the terms of the Obligations,
<br /> (cl Trustor fails to observe or perform any of the covenants, agreements, or conditions in this�eed of Trust,
<br /> (dl Any representation or warranty including, but not limited to, any warranty of title made by Trustor in this Deed of Trust is false or
<br /> materially misleading, or
<br /> (el Trustor sells or conveys the T�ust Property, o�any pa�t thereof, or any interest therein, or is divested o!its title, o�any interest
<br /> therein, in any manne�or way, whethe�volunta�ily or involuntarily, without the p�io�written consent of Beneficiary.
<br /> 26. Acce%ration of Debt;Forec%sure. Upon the occurrence of any Event of Defau/t, or any time thereafter unti/such Event of Default is
<br /> cured to the satisfaction of Beneficiary, Beneficiary may, at its option, declare all Obligations secured hereby immediately due and payable
<br /> and the same shall bear interest at the default rate, if any, set forth in the Note or the default rate, if any, set forth in the most�ecent
<br /> obligation covered by the Guaranty, or otherwise at the highest rate pe�mitted by law, and, irrespective of whether Beneficiary exercises
<br /> said option, it may, at its option and in its so%discretion, without any further notice or demand to or upon Trustor, do one or more of
<br /> the following:
<br /> (al Beneficiary may enter upon, take possession of, manage and operate the Trust Property or any part thereof,•make repairs and
<br /> a/te�ations and do any acts which Beneficiary deems proper to protect the security thereof, and either with or without taking
<br /> possession, in its own name, sue for o�otherwise col%ct and receive rents, issues and profits, including those past due and unpaid, and
<br /> apply the same, less costs and expenses oJ operation and collection, including reasonable attorneys'fees and Beneficiary's costs, upon
<br /> the Obligations secured hereby and in such order as Beneficia�y may dete�mine. Upon request of Beneficiary, Trustor shall assemble and
<br /> shall make available to Beneficiary any of the Trust Property which has been removed. The entering upon and taking possession of the
<br /> Trust Property, the collection of any rents, issues and profits, and the application thereof as aforesaid, shall not cu�e or waive any
<br /> default theretofore or thereafter occurring, or affect any notice of default or notice of sale hereunder or invalidate any aci done pursuant
<br /> to any such notice. Notwithstanding Beneficiary's continuance in possession or receipt and application of rents, issues or profits,
<br /> Beneficiary shall be entitled to exercise every right provided for in this Deed of Tiust or by law upon or after the occurrence of an Event
<br /> of Defau/t, including the right to exercise the power of sale. Any of the actions refer�ed to in this Section may be taken by Beneficia�y at
<br /> such time as Beneficiary may determine without regard to the adequacy of any security for the Obligations secured hereby.
<br /> (61 Beneficiary shall, without�egard to the adequacy of any secu�ity for the Obligations secured hereby, be entitled ro the appointment
<br /> of a�eceiver by any court having jurisdiction, without notice, to take possession of,p�otect, and manage the Trust Property and operate
<br /> the same and collect the�ents, issues and profits the�ef�om.
<br /> lcJ Beneficiary may bring any action rn any court of competent ju�isdiction to foreclose this Deed of Trust or enforce any of the
<br /> covenanis hereof.
<br /> (d/ Beneficia�y may elect to cause the Trust Property or any pa�t thereof to be sold unde�the power of sale, and in such event,
<br /> Beneficiary or Trustee sha//give such notice of defau/t and notice of sa/e to each party to this Deed of Trust by mai/at the address set
<br /> forth he�ein and any other notice which may be then required by law. The�eafter, upon the expiration of such time and the giving of
<br /> such notice of sale as may then be requi�ed by law, Trustee, at the time and place specified by the notice of sale, shall sell such Trust
<br /> Property, or any part rhereof specified by Beneficiary at public auction to the highest bidder for cash in lawful money of the United
<br /> States of America. Upon receipt of payment of ihe bid price, Trustee shall apply the proceeds in the following order: (il to the cost and
<br /> expenses of exercising the power of sale and of the sale, including but not limited to, t�ustee's fees of not more than 5500.00 plus
<br /> one-half of one percent of the gross sale price, and reasonable attorneys'fees, (ii1 to the Obligations, and liiiJ the excess, if any, to the
<br /> person or persons legally entitled thereto.
<br /> All costs and expenses incuned by Beneficiary in enforcing any right under this Deed of T�ust, including without limitation, abstract or title
<br /> fees, appraisal fees,premiums for title insurance, attorneys'fees and court costs, shall be and constitute Obligations secured hereby.
<br /> 27. Duties of Tiustee. Tiustor agrees that:
<br /> (a/ The duties and obligations of T�ustee shall be determined so%ly by the express provisions of this Deed of Trust and Trustee shall not
<br /> be/iab/e except for the performance of such duties and ob/igations as are specifica//y set forth herein, and no imp/ied covenants or
<br /> obligations shall be imposed upon Trustee,
<br /> lbl No provision of this Deed of Trust shall require T�ustee to expend or risk its own funds, or otherwise incur any financial obligation in
<br /> the perfo�mance of any of its duties hereunde� or in the exercise of any of its�ights or powe�s,
<br /> (c) Trustee may consult with counsel of iis own choosing and the advice of such counsel shall be full and complete authorization and
<br /> protection in the respect of any aciion taken o�suffered by it hereunder in good faith and reliance thereon, and
<br /> (dl T�ustee shall not be liable fo�any action taken by it in good faith and reasonably believed by it to be authorized or within its
<br /> discretion o�rights or powe�s confened upon it by ihis Deed of Trust.
<br /> 28. Security Agreement and Fixture Fi/ing. Fiom the date of its�ecording, this Deed of Trust shall constitute a security agreement and
<br /> fixtu�e filing under the provisions of the Nebraska Uniform Commercial Code with�espect to those fixtures described in the preambles hereof
<br /> as constituting a part of the Tiust Property, together with all other property of T�ustor, either similar or dissimilar to the same, now or
<br /> hereafter located at o�on the T�ust Prope�ty. For this purpose, the following information is set forth:
<br /> (a) Name and Address of Debtor/Trustor: (bJ Name and Address of Secured Party/Beneficiary:
<br /> Timothy C. Plate Norwest Bank Nebraska, National
<br /> Association
<br /> 2608 Old Fair Road 202 West Third Street
<br /> Grand Island, NE 68803 Grand Island, NE 68801
<br /> (c/Debtor's Socia/Security Number/Federal Taxpaye�l.D. Number 5 0 8 6 819 74
<br /> (dl This document covers goods which are or a�e to become fixtures.
<br /> le1 The name of the reco�d owne�of the Tiust Property is the Debtor/Tiustor described above.
<br /> 29. Future Advances. Beneficiary, at Beneficiary's option,prior to full reconveyance of the Trust Property by Trustee to Trustor, may make
<br /> future advances to Trustor. Such future advances, with interest thereon, shall be secured by this Deed of Tiust. At no time shall the p�incipal
<br /> amount of the Ob/igations secu�ed by this Deed of Trust, not inc/uding sums advanced to protect the security, exceed the tota/sum of
<br /> S 300 000_00
<br /> Nothing herein contained shall imply any obligation on the part of the Beneficiary to make any such additional advances.
<br /> Advances of disbu�sements made by Beneficiary to protect the security, under the terms hereof, while disc�etionary, shall not be deemed to
<br /> be optional advances.
<br /> 30. Reconveyance. Upon payment of all Obligations secu�ed by this Deed of Tiust, Beneficiary shall request Trustee to reconvey the Trust
<br /> Property and sha//surrender this Deed of Trust and a//notes evidencing Ob/igations secu�ed by this Deed of Trust to Tiustee. Trustee sha//
<br /> reconvey the Trust Property without wananty and without charge to the pe�son or persons legally entitled thereto. Such person or persons
<br /> shall pay all costs of recordation,if any.
<br /> 31. Substitute Trustee. Beneficiary, at its option, may fiom time to time�emove T�ustee and appoint a Successor Trustee to any Trustee
<br /> appointed hereunder by an instrument recorded in the county in which this Deed of Trust is recorded. Without conveyance of the Trust
<br /> Property, the Successor Trustee shall succeed to all title,powe�and duties conferred upon Trustee herein and by applicable law.
<br /> 32. Miscel/aneous Rights of Beneficiary, Beneficiary may at any time and from time to time, without notice, consent to the making of any
<br /> plat o!the Trust Property or the creation of any easement thereon or any covenants rest�icting use or occupancy thereof or agree to alter or
<br /> amend the terms of this Deed of Trust. Any personal prope�ty remaining upon the Trust Property after the Trust Property h.as been possessed
<br /> or occupied by Beneficiary, its agent o�any purchaser fo//owing Tiustee's sa/e or forec%su�e, o�under any deed in/ieu of Trustee's sa/e or
<br /> foreclosure, shall be conclusively presumed to have been abandoned by Trustor.
<br /> 33. Trustor hereby requests that a copy of any notice of defau/t and notice of sa/e made or executed by Trustee pu�suant to the provisions
<br /> hereof be sent to Trustor at its mailing address set forth above.
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