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200403671 <br />TO WAIVE THE RIGHT OF BENEFICIARY, AT ITS OPTION, TO DECLARE THE <br />INDEBTEDNESS SECURED HEREBY IMMEDIATELY DUE AND PAYABLE, <br />WITHOUT NOTICE TO GRANTOR OR ANY OTHER PERSON OR ENTITY, UPON <br />ANY SUCH SALE, TRANSFER, PLEDGE, ENCUMBRANCE, CREATION OF A <br />SECURITY INTEREST, GROUND LEASE, OR OTHER HYPOTHECATION TO <br />WHICH BENEFICIARY SHALL NOT HAVE CONSENTED. <br />Section 3.10 SECURITY DEPOSITS. To the extent required by law, <br />or after an Event of Default has occurred and during its continuance, if required by <br />Beneficiary, all security deposits of tenants of the Trust Property shall be treated as trust <br />funds not to be commingled with any other funds of Grantor. Within twenty (20) days <br />after request by B eneficiary, Grantor shall furnish satisfactory evidence o f compliance <br />with t his S ection 3. 10, a s n ecessary, t ogether w ith a s tatement o f a 11 s ecurity d eposits <br />deposited by the tenants and copies of all Leases not theretofore delivered to Beneficiary, <br />as requested thereby, certified by Grantor. <br />ARTICLE 4. <br />DEFAULT <br />Section 4.1 Events of Default. The occurrence of any of the following <br />events shall constitute an event of default under this Deed of Trust (each an "Event of <br />Default "): <br />(a) an "Event of Default" (as such term is defined in the Loan <br />Agreement) shall have occurred; <br />(b) Grantor's breach of any of the covenants set forth in this <br />Deed of Trust; or <br />(c) if any misstatement or misrepresentation exists now or <br />hereafter in any warranty or representation set forth in Article 3 hereof. <br />ARTICLE 5 <br />REMEDIES AND FORECLOSURE <br />Section 5.1 Remedies. If an Event of Default exists, Beneficiary may, <br />at Beneficiary's election and by or through Trustee or otherwise, exercise any or all of the <br />following rights, remedies and recourses: <br />(a) To the extent permitted under the Loan Agreement, declare <br />the Indebtedness to be immediately due and payable, without further notice, presentment, <br />protest, notice of intent to accelerate, notice of acceleration, demand or action of any <br />HALL COUNTY, NE 7 <br />LA1 570091v2 <br />