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LAW OFFICE BRAD MONCRIEF, L.L.C. 1239 N. Burlington Ave., Suite 200 Hastings, NE 68901 (402) 462 -5353 20040451'7 7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, devisees, personal representatives, successors and assigns. The term "Beneficiary" shall mean the owner and holder of the Note, whether or not named as Beneficiary herein. 8. SALE OF SECURED PROPERTY. It is hereby agreed between the Beneficiary and Trustor, in the event that the Trustor shall sell the property then the Deed of Trust and Promissory Note shall become due and payable immediately. 9. INSPECTIONS. Beneficiary, or its agents, representatives or workmen, are authorized to enter at any reasonable time upon or in any part of the Trust Estate for the purpose of inspecting the same and for the purpose of performing any of the acts it is authorized to perform under the terms of any of the Loan Instruments. 10. EVENTS OF DEFAULT. Any of the following events shall be deemed an event of default hereunder: (a) Trustor shall have failed to make payment of any installment of interest, principal, or principal and interest or any other sum secured hereby when due; or (b) There has occurred a breach of or default under any term, covenant, agreement, condition, provision, representation or warranty contained in any of the Loan Instruments or in any mortgage or security instrument which is superior to this Deed of Trust upon the Property. 11. ADDITIONAL EVENTS OF DEFAULT; TRANSFER OF PROPERTY. If all or any part of the Property or any interest therein is sold or transferred by Trustor's without Beneficiary's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Deed of Trust, (b) the creation of a purchase security interest for household appliances (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less not containing an option to purchase, Beneficiary's may, at Beneficiary's option, declare all the sums secured by this Deed of Trust to be immediately due and payable. 12. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should any event of default occur Beneficiary may declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter Beneficiary may: (i) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security, enter upon and iii