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<br />and recorded in the County in which the Trust Estate is located and by otherwise complying
<br />with the provisions of the applicable law of the State of Nebraska substitute a successor or
<br />successors to the Trustee named herein or acting hereunder.
<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the
<br />benefit of and binds all parties hereto, their heirs, legatees, devisees, personal representatives,
<br />successors and assigns. The term "Beneficiary" shall mean the owner and holder of the Note,
<br />whether or not named as Beneficiary herein.
<br />8. INSPECTIONS. Beneficiary, or its agents, representatives or workmen, are
<br />authorized to enter at any reasonable time upon or in any part of the Trust Estate for the
<br />purpose of inspecting the same and for the purpose of performing any of the acts it is
<br />authorized to perform under the terms of any of the Loan Instruments.
<br />9. EVENTS OF DEFAULT. Any of the following events shall be deemed an event of
<br />default hereunder:
<br />(a) Trustor shall have failed to make payment of any installment of interest, principal,
<br />or principal and interest or any other sum secured hereby for a period of five (5) days after the
<br />same becomes due; or,
<br />(b) There has occurred a breach or default under any term, covenant, agreement,
<br />condition, provision, representation, or warranty contained in any of the Loan Instruments.
<br />10. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should
<br />an event of default occur, Beneficiary may declare all indebtedness secured hereby to be due
<br />and payable, and the same shall thereupon become due and payable without any presentment,
<br />demand, protest, or notice of any kind. Thereafter the Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or
<br />by a receiver appointed by a Court and without regard to the adequacy of its security, enter
<br />upon and take possession of the Trust Estate, or any part thereof, in its own name or in the
<br />name of Trustee, and do any acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentability of the Trust Estate, or part thereof or interest therein, increase the
<br />income therefrom or protect the security hereof, and with or without taking possession of the
<br />Trust Estate, sue for or otherwise collect the rents, issues and profits thereof, including those
<br />past due and unpaid, and apply the same, less costs and expenses of operation and collection,
<br />including attorney's fees, upon any indebtedness secured hereby, all in such order as
<br />Beneficiary may determine. The entering upon and taking possession of the Trust Estate, the
<br />collection of such rents, issues and profits and the application thereof as aforesaid, shall not
<br />cure or waive any default or notice of default hereunder or invalidate any act done in response
<br />to such default or pursuant to such notice of default and, notwithstanding the continuance in
<br />possession of the Trust Estate or the collection, receipt and application of rents, issues or
<br />profits, Trustee or Beneficiary shall be entitled to exercise every right provided for in any of the
<br />Loan Instruments or by law upon occurrence of any event of default, including the right to
<br />exercise the power of sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a
<br />receiver, or specifically enforce any of the covenants hereof;
<br />(c) Deliver to Trustee a written declaration of default and demand for sale, and a
<br />written notice of default and election to cause Trustor' interest in the Trust Estate to be sold,
<br />which notice Trustee shall cause to be duly filed for record in the appropriate Official Records
<br />of the County in which the Trust Estate is located.
<br />11. FORECLOSURE BY POWER OF SALE. Should Beneficiary elect to foreclose
<br />by exercise of the Power of Sale herein contained, Beneficiary shall notify Trustee and shall
<br />deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of
<br />expenditures made and secured hereby as Trustee may require.
<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be recorded,
<br />published and delivered to such Notice of Default and Notice of Sale as then required by law
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