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DEED OF TRUST 9 9 1110 8 4 Page 4
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<br /> twenty (20) days, immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and
<br /> necessary steps sufficient to produce compliance as soon as reasonably practical.
<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance,or
<br /> any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> False Statements. Any representation or statement made or furnished to Lender by Trustor or on Trustor's behalf under this Deed of Trust,
<br /> the Note,or the Related Documents is false or misleading in any material respect,either now or at the time made or furnished.
<br /> Defective Collateraiization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any
<br /> collateral document to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> Death or Insolvency. The death of Trustor,the insolvency of Trustor, the appointment of a receiver for any part of Trustor's property, any
<br /> assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or
<br /> insolvency laws by or against Trustor.
<br /> Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of Trustor's property in which
<br /> Lender has a lien. This includes taking of,garnishing of or levying on Trustor's accounts with Lender. However, if Trustor disputes in good
<br /> faith whether the claim on which the taking of the Property is based is valid or reasonable, and if Trustor gives Lender written notice of the
<br /> claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim,then this default provision will not apply.
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not
<br /> remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other
<br /> obligation of Trustor to Lender,whether existing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party
<br /> of any of the Indebtedness or any guarantor,endorser,surety,or accommodation party dies or becomes incompetent,or revokes or disputes
<br /> the validity of, or liability under, any Guaranty of the Indebtedness . In the event of a death, Lender, at its option, may, but shall not be
<br /> required to, permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty in a manner satisfactory to
<br /> Lender,and,in doing so,cure any Event of Default.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> Right to Cure. If such a failure is curable and if Trustor has not been given a notice of a breach of the same provision of this Deed of Trust
<br /> within the preceding twelve(12) months, it may be cured (and no Event of Default will have occurred) if Trustor, after Lender sends written
<br /> notice demanding cure of such failure: (a) cures the failure within twenty (20)days; or (b) if the cure requires more than twenty (20) days,
<br /> immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient
<br /> to produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender may
<br /> exercise any one or more of the following rights and remedies:
<br /> Acceleration Upon Default;Additlonal Remedies. If any Event of Default occurs as per the terms of the Note secured hereby, Lender
<br /> may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and
<br /> payable without any presentment,demand,protest or notice of any kind. Thereafter,Lender may:
<br /> (a) Either in person or by agent,.with or without bringing any action or proceeding, or by a receiver appointed by a court and
<br /> without regard to the adequacy of its security,enter upon and take possession of the Property,or any part thereof, in its own name
<br /> or in the name of Trustee,and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability
<br /> of the Property,or part of the Property or interest in the Property; increase the income from the Property or protect the security of
<br /> the Property;and,with or without taking possession of the Property,sue for or otherwise collect the rents, issues and profits of the
<br /> Property, including those past due and unpaid,and apply the same,less costs and expenses of operation and collection attorneys'
<br /> fees,to any indebtedness secured by this Deed of Trust,all in such order as Lender may determine. The entering upon and taking
<br /> possession of the Property,the collection of such rents, issues and profits,and the application thereof shall not cure or waive any
<br /> default or notice of default under this Desd of Trust or invalidate any act done in response to such default or pursuant to such
<br /> notice of default; and, notwithstanding the continuance in possession of the Property or the collection, receipt and application of
<br /> rents, issues or profits, Trustee or Lender shall be entitled to exercise every right provided for in the Note or the Related
<br /> Documents or by law upon the occurrence of any event of default,including the right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the
<br /> covenants hereof;and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause
<br /> Trustor's interest in the Property to be sold,which notice Trustee shall cause to be duly filed for record in the appropriate offices of
<br /> the County in which the Property is located;and
<br /> (d) With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under
<br /> the Nebraska Uniform Commercial Code.
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained, Lender shall notiiy
<br /> Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and
<br /> secured by this Deed of Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause to be recorded, published and delivered to Trustor such Notice
<br /> of Default and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall, without demand on Trustor, after
<br /> such time as may then be required by law and after recordation of such Notice of Default and after Notice of Sale having been
<br /> given as required by law,sell the Property at the time and place of sale fixed by it in such Notice of Sale, either as a whole,or in
<br /> separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may determine,at public auction to the
<br /> highest bidder for cash in lawful money of the United States payable at the time of sale. Trustee shall deliver to such purchaser or
<br /> purchasers thereof its good and sufficient deed or deeds conveying the property so sold, but without any covenant or warranry,
<br /> express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
<br /> person,including without limitation Trustor,Trustee,or Lender,may purchase at such sale.
<br /> (b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, including costs of
<br /> evidence of title in connection with sale,Trustee shall apply the proceeds of sale to payment of (i) all sums expended under the
<br /> terms of this Deed of Trust or under the terms of the Note not then repaid, including but not limited to accrued interest and late
<br /> charges, (ii)all other sums then secured hereby,and (iii)the remair�der,if any,to the person or persons le�lly entitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and performance of any
<br /> indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powers under this Deed of Trust, under the Note,
<br /> under any of the Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding, soms or all of
<br /> such indebtedness and obligations secured by this Deed of Trust may now or hereafter be otherwise secured,whether by mortgage,deed of
<br /> trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement, whether by court action or
<br /> pursuant to the power of sale or other powers contained in this Deed of Trust,shall prejudice or in any manner affect Trustee's or Lender's
<br /> right to realize upon or enforce any other security now or hereafter held by Trustee or Lender, it being agreed that Trustee and Lender,and
<br /> each of them,shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Lender or Trustee in such order
<br /> and manner as they or either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or
<br /> Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by law provided or permitted, but each shall be cumulative
<br /> and shall be in addition to every other remedy given in this Deed of Trust or now or hereafter existing at law or in equity or by statute. Every
<br /> power or remedy given by the Note or any of the Related Documents to Trustee or Lender or to which either of them may be otherwise
<br /> entitled,may be exercised,concurrently or independently,from time to time and as often as may be deemed expedient by Trustee or Lender,
<br /> and either of them may pursue inconsistent remedies. Nothing in this Deed of Trust shall be construed as prohibiting Lender from seeking a
<br /> deficiency judgment against the Trustor to the extent such action is permitted by law.
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