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<br /> action or proceeding in which Beneficiary or Trustee may appear. Should
<br /> Trustor fail to make any payment or to do any act as and in the manner
<br /> provided in any of the Loan Instruments, Beneficiary and/or Trustee, each in
<br /> its own discretion, without obligation, may make or do the same in such manner
<br /> and to such extent as either may deem necessary to protect the security
<br /> hereof. Trustor shall, immediately upon demand therefor by Beneficiary, pay
<br /> all costs and expenses incurred by Beneficiary in connection with the exercise
<br /> by Beneficiary of the foregoing rights, including, without limitation, costs
<br /> of evidence of title, court costs, appraisals, surveys and attorney's fees.
<br /> Any such costs and expenses not paid within ten (10) days of written demand
<br /> ahall draw interest at the default rate provided in the Note.
<br /> 5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or
<br /> interest therein, be taken or damaged by reason of any public improvement or
<br /> condemnation proceeding, or in any other manner including deed in lieu of
<br /> Condemnation ("Condemnation"), or ahould Trustor receive any notice or other
<br /> information regarding auch proceeding, Trustor shall give prompt written
<br /> notice thereof to Beneficiary. Beneficiary shall be entitled to all
<br /> compensation awards and other payments or relief therefor, and shall be
<br /> entitled to make any compromise or settlement in connection with such taking
<br /> or damage. All such compensation, awards, damages, rights of action and
<br /> proceeds awarded to Trustor (the "Proceeds") are hereby assigned to
<br /> Beneficiary; and Trustor agrees to execute such further assignments of the
<br /> Proceeds as Beneficiary or Trustee may require.
<br /> 6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to
<br /> time, by a written instrument executed and acknowledged by Beneficiary, mailed
<br /> to Trustor and recorded in the County in which the Trust Estate is located and
<br /> by otherwise complying with the provisiona of the applicable law of the State
<br /> of Nebraska substitute a successor or successors to the Trustee named herein
<br /> or acting hereunder.
<br /> 7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to
<br /> the benefit of and binds all partiea hereto, their heirs, legatees, devisees,
<br /> personal representatives, successors and assigns. The term "Beneficiary"
<br /> shall mean the owner and holder of the Note, whether or not named as
<br /> Beneficiary herein.
<br /> 8. INSPECTIONS. Beneficiary, or its agents, representatives or
<br /> workmen, are authorized to enter at any reasonable time upon or in any part of
<br /> the Trustee Estate for the purpose of inspecting the same and for the purpose
<br /> of performing any of the acts it is authorized to perform under the terms of
<br /> any of the Loan Instruments.
<br /> 9. EVENTS OF DEFAULT. Any of the following events shall be deemed an
<br /> event of default hereunder:
<br /> (a) Trustor shall have failed to make payment of any installment of
<br /> interest, principal, or principal and interest or any other sum secured hereby
<br /> when due; or,
<br /> (b) There has occurred a breach or default under any term, covenant,
<br /> agreement, condition, provision, representation, or warranty contained in any
<br /> of the Loan Instruments.
<br /> (c) If Trustor ahall sell, convey, transfer, or dispose of the real
<br /> property described in the Note securing the debt evidenced by the Note, or any
<br /> part of such property, or any interest therein, or agree so to do without the
<br /> prior written consent of Beneficiary, Beneficiary shall have the right, at the
<br /> option of Beneficiary, to declare the entire balance of the unpaid principal
<br /> with unpaid interest due thereon immediately due and payable. Failure to
<br /> exercise such option ahall not constitute a waiver of the right to exercise it
<br /> in the event of any subsequent default.
<br /> 10. ACCELERATION UPON DEFAULT ADDITIONAL REMEDIES Should an event of
<br /> default occur, Beneficiary may declare all indebtedness secured hereby to be
<br /> due and payable, and the same shall thereupon become due and payable without
<br /> any presentment, demand, protest, or notice of any kind. Thereafter the
<br /> Beneficiary may:
<br /> (a) Either in person or by agent, with or without bringing any action
<br /> or proceeding, or by a receiver appointed by a Court and without regard to the
<br /> adequacy of its security, enter upon and take possession of the Trust Estate,
<br /> or any part thereof, in its own name or in the name of Trustee, and do any
<br /> acts which it deems necessary or desirable to preserve the value,
<br /> marketability or rentability of the Trust Estate, or part thereof or interest
<br /> therein, increase the income therefrom or protect the security hereof, and
<br /> with or without taking possession of the Trust Estate, sue for or otherwise
<br /> collect the rents, issues and profits thereof, including those past due and
<br /> unpaid, and apply the same, less costs and expenses of operation and
<br /> collection, including attorney's fees, upon any indebtedness secured hereby,
<br /> all in auch order as Beneficiary may determine. The entering upon and taking
<br /> possession of the Trust Estate, the collection of such rents, issues and
<br /> profits and the application thereof as aforesaid, shall not cure or waive any
<br /> 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
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