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25. Events of Defau/t. Each of the following occurrences shall constitute an event of default hereunder, (hereinafter an "Event of Default"1:
<br /> la1 Any amount payable under rhe Obligations secured by this Deed of Trusi is not paid when due, after giving effect to any applicable
<br /> grace period therein,
<br /> (bl T�ustor 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 Deed of Trust,
<br /> /d/ Any representation or warranty inc/uding, but not/imited to, any warraniy of iit/e made by Trustor in this Deed of Trust is fa/se o�
<br /> materially misleading, or
<br /> (e/ Trustor sells or conveys the Tiust Property, or any part thereof, or any inte�est therein, or is divested of its title, or any inte�est
<br /> therein, in any manne�or way, whether voluntarily or involuntarily, without the prio�written consent of Beneficiary.
<br /> 26. Acce%ration of Debt;Forec%sure. Upon the occurrence of any Event of Default, or any time the�eafter until 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 fo�th in the Note or the default�ate, if any, set forth in the most recent
<br /> obligation covered by the Guaranty, or otherwise at the highest rate permiited by law, and, irrespective of whethe�Beneficiary exercises
<br /> said option, it may, at its option and in its sole discretion, wiihout any further notice or demand to or upon Trustor, do one or more of
<br /> the following:
<br /> la/ Beneficiary may enter upon, take possession of, manage and operate the Trust P�ope�ty or any part thereof,•make repairs and
<br /> alterations and do any acts which Beneficiary deems p�oper to protect the security ihereof, and either with or without taking
<br /> possession, in its own name, sue for or otherwise co//ect and receive rents, issues and profits, inc/uding those past due and unpaid, and
<br /> apply ihe same, less costs and expenses of operation and collection, including reasonable attorneys'fees and Beneficiary's costs, upon
<br /> the Obligations secured hereby and in such order as Beneficiary may determine. Upon request of Beneficiary, Trustor shall assemble and
<br /> shall make available to Beneficiary any of ihe Trust Property which has been removed. The entering upon and taking possession of the
<br /> � Trust Property, the collection of any rents, issues and p�ofits, and the application the�eof as aforesaid, shall not cure or waive any
<br /> � default theretofore or thereafter occurring, or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant
<br /> M to any such notice. Notwithstanding Beneficiary's continuance in possession o��eceipt and application of rents, issues or profits,
<br /> y� Beneficiary shall be eniitled to exercise every right provided for in this Deed of Tiust o�by law upon or after the occurrence of an Event
<br /> YU of Default, including the right to exercise the power of sale. Any of the actions referred to in this Sectron may be taken by Beneficia�y at
<br /> � such time as Beneficiary may determine without�ega�d to the adequacy of any security for the Obligations secured hereby.
<br /> � /b) Beneficiary shall, withoui regard to the adequacy of any security for the Obligations secured hereby, be entitled to the appointment
<br /> � of a receiver by any court having jurisdiction, without notice, to take possession of,protect, and manage the Trust Property and operate
<br /> T the same and collect the rents, issues and p�ofits the�efrom.
<br /> v� (cl Beneficiary may bring any action in any court of competent jurisdiction to foreclose this Deed of Trust o�enforce any of the
<br /> covenants hereof.
<br /> ldl Beneficiary may elect to cause the Trust Property or any part thereof to be sold under the power of sale, and in such event,
<br /> Beneficiary o� Trustee sha//give such notice of defau/t and notice of sa/e to each party to this Deed of T�ust by mai/at the address set
<br /> forth herein and any other notice which may be then requi�ed by law. Thereafter, upon ihe expiration of such time and the giving of
<br /> such notice of sale as may then be required by law, Tiustee, at the time and place specified by the notice of sale, shall sell such Trust
<br /> Property, or any part the�eof 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 the bid price, Tiustee shall apply the proceeds in the following o�der.• /i) to ihe cost and
<br /> expenses of exercising the power of sale and of the sale, including but not limited to, trustee's fees of not more than S500.00 plus
<br /> one-half of one pe�cent of the gross sale price, and reasonable attorneys'fees, (iiJ to the Obligations, and liii/ the excess, if any, to the
<br /> person or persons legally entitled thereto.
<br /> All costs and expenses incur�ed by Beneficiary in enforcing any right unde�this Deed of Trust, 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 Trustee. Trustor agrees that:
<br /> la) The duties and ob/igations of Trustee sha//be determined so/e/y by the exp�ess provisions of this Deed of Trust and Trustee sha//not
<br /> be liable except for the performance of such duties and obligations as are specifically set forth he�ern, and no implied covenants or
<br /> obligations shall be imposed upon Trustee,
<br /> (b/ No provision of this Deed of Trust shall require Trustee to expend or risk its own funds, or othe�wise incur any financial obligation in
<br /> the performance of any of its duties he�eunder, or in the exercise of any of its rights or powers,
<br /> (cl Trustee may consult with counsel of its own choosing and ihe advice of such counsel shall be full and complete authorization and
<br /> protection in the respect of any action taken or suffered by it hereunder in good faith and reliance thereon, and
<br /> (d/ Tiustee shall not be liable for any action taken by it in good faith and reasonably believed by it to be authorized or within its
<br /> discretion or rights or powers conferred upon it by this Deed of T�ust.
<br /> 28. Secu�ity Agreement and Fixture Fi/ing. Fiom the date of its recording, this Deed of Trust sha//constitute a security agreement and
<br /> fixture filing under the provisions of the Nebraska Uniform Commercial Code with respect to those fixtures described in the preambles hereof
<br /> as constituting a part of the Trust Property, together with all other p�ope�ty of Trustor, eithe�similar or dissimilar to the same, now or
<br /> hereafter located at o�on the Trust Property. For this purpose, the following information is set fo�th:
<br /> (a1 Name and Address of Debtor/Trustor: /bJ Name and Add�ess of Secured Party/Beneficiary:
<br /> D & D Investments, A Nebraska Norwest Bank Nebraska, National
<br /> Partnership Association
<br /> 429 Industrial Lane 202 West Third Street
<br /> Grand Island, NE 68803 Grand Island, NE 68801
<br /> (cJ Debtor's Social Security Number/Federal Taxpayer l.D. Number 4 7 0 7 6 4 8 71
<br /> ldJ This document covers goods which are or are to become fixtures.
<br /> (e/ The name of the record owner of the Trust Property is the DebtoNTrustor described above.
<br /> 29. Future Advances. Beneficiary, at Beneficia�y's option,prior to full reconveyance of the Trust Property by T�ustee to Trusto�, may m2ke
<br /> future advances to Trustor. Such future advances, with inte�est thereon, shall be secured by this Deed of Trust. At no time shall the principa!
<br /> amount of the Obligations secu�ed by this Deed of Trust, not including sums advanced to protect the security, exceed the total sum of
<br /> S 248, 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 Beneficia�y to protect ihe security, under the terms hereof, while discretionary, shall not be deemed to
<br /> be optional advances.
<br /> 30. Reconveyance. Upon payment of all Obligations secured by this Deed of Trust, Beneficiary shall request Trustee to reconvey the Trust
<br /> Property and shall surrender this Deed of Trust and all notes evidencing Obligations secured by this Deed of Trust to Trustee. Trustee shall
<br /> reconvey the Trust Prope�ty without warranty and without charge to the person 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 from time to time remove Trustee and appoint a Successo� Trustee to any Trustee
<br /> appointed he�eunder by an instrument recorded in the couniy in which this Deed of Trust is recorded. Without conveyance of the Trust
<br /> Property, the Successor Trustee shall succeed to all title,power and duties conferred upon Trustee herein and by applicable law.
<br /> 32. Misce//aneous Rights of Beneficiary. Beneficiary may at any time and from time to time, without notice, consent to the making of any �
<br /> plat of the Trust P�operty or the creation of any easement thereon or any covenants�estricting use or occupancy thereof or agree to alter o�
<br /> amend the terms of this Deed of Trust. Any personal p�operty�emaining upon the Trust Property after the Trust Property has been possessed
<br /> or occupied by Beneficiary,its agent or any purchaser following Trustee's sale or forec%sure, or unde�any deed in lieu of Trustee's sale or
<br /> foreclosu�e, shall be conclusively p�esumed to have been abandoned by T�ustor.
<br /> 33. Trusto�herebv requests that a copv of any notice of defau/t and notice of sa/e made or executed by Trustee pursuant to the provisions
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