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t�-22-1999 DEED OF TRUST 9 9 1113 4 0 Page 5
<br /> - Loa� No 1044924 (Continued)
<br /> Defective CoIlMerallzMion. This Deed of Trust or any of the Related Documenls ceases to be in full force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest or lien)at eny time and for any reason.
<br /> Death or Inaolvency. The death of Trustor or Borrower a the dissolu6on or termination of Trustor or Borrower's e�dstence as a floing business,
<br /> the insolvency of Trustor or BoROwer, the appantment of a receiver for any pa�t of Trustor or Borrower's property, any assignment for the
<br /> benefit ot creditors, any iype of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or
<br /> against Trustor or Borrower.
<br /> Foreclosure,Forteiture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,sel�help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency against any of the Properiy. However,this subsection shall not
<br /> apply in the event of a good faith dispute by Trustw as to the validity or reasonableness of the claim which is the basis of the foredosura or
<br /> forefeiture proceeding, provided that Trustor gives Lender written notice of such claim and furnishes reserves or a surety bond for the claim
<br /> satisfactory to Lender.
<br /> Breach of Other Agreement. Any breach by Trustor or Borrower under the terms of any other agreement betwesn Trustor or Borrower and
<br /> Lender that is not remedied within any grace period provided therein,induding without limitetion any agreement concerning any indebtedness
<br /> or other obligation of Trustor or Borrower to Lender,whether epsting now or leter.
<br /> Events Affectin�Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes incompetent, or revokes or disput�the validity of,or liability under,any Guerany of the Indebtedness. Lender,at its option,
<br /> may, but shall not be required to, permit the Guarantor's estate to assume uncondiaonaAy the obiipa6ons arisiny under the guaranty in a
<br /> manner satisfactory to Lender,and,in dang so,cure the Event of Default.
<br /> Adverae Chanpe. A material adverse charge oxurs in Borrower's Rnancial condition, or Lender believes the prospact of payment or
<br /> performance of the Indebtedness is impaired.
<br /> InsecurHy. Lender in good faith deems itself insecure.
<br /> bcistin�Indebtedness. A default shall occur under any E�dsBng Indebtedness or under any instrument on the Property securing any F�dsHng
<br /> Indebtedness,or commencement of any suit or other action to foreclose any e�dsHng lien on the Property.
<br /> Ri�ht to Cure. If such a failure is curable and if Trustor w Borrower has not been given a nofice of a breach of the same provision of this Deed
<br /> of Trust within the preceding twelve (12) months, it mey be cured (and no Event of Default will have occurred) if Trustor or Borrower, after
<br /> Lender sends written notice demanding cure of such failure: (a)cures the failure within ten(10)days;or (b)ff the cure requires more than ten
<br /> (10)days, immediately iniHates steps sufficient to cure the failure and thereaffer continues and completes all reasonable and necessary steps
<br /> sufficient to produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any dme thereafler,Trustee or Lender,at its option,
<br /> may exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided by law:
<br /> Acceleretlon upon Default; Additional Remedies. If any event of defauH occurs as per the terms of the Note secured hereby,Lender may
<br /> declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without
<br /> any presentment,demand,protest or notice of any kind. Thereaft�,Lender may:
<br /> (a) Either in person or by agent, with a without bringing any action or proceeding, w by a receiver appointed by a court and without
<br /> regard to the adequacy of its security,enter upon and take possession of the Prope�ty,or any part thereof,in its own name or in the name
<br /> of Trustee,and do any acts which it deems necessary or desirable to preserve the value,marketability or rentabiliy of the Properiy,or part
<br /> of the Property or interest in the Property;increase the income irom the Property or protect the security of the Properiy;and,with or without
<br /> taking possession of the Property,sue for or otherwise collect the renis,issues and profils of the Properiy, including those past due and
<br /> unpaid,and apply the same,less costs and expenses of operation and collection,including attorneys'fees,to any indebtedness secured
<br /> by this Deed of Trust,all in such order as Lender may determine. The entering upon and taking possession of the Property,the collecUon
<br /> of such rents,issues and profits,and the application thereof shall not cure or waive any defauft or notice of default under this Deed of Trust
<br /> or invalidate any act done in response to such default or pursuant to such notice of defautt; and, notwithstanding the continuance in
<br /> possession of the Property or the collecUon, recefpt and apptication of rents, issues or profits, Trustee or Lender shall be entitled to
<br /> exercise every right provided for in the Note or the Related Documents or by law upon the occunence of any event of default,including the
<br /> 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 covenants
<br /> hereof;and
<br /> (c) Deliver to Trustee a written declaraHon of detault and demand for sale and a written notice of default and electlon to cause Trustor's
<br /> interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the appropriate of8ces of the County in
<br /> which the Property is located;and
<br /> (d) With respect to all or any part of the Personal Property, Lender shall have all the righis and remedies of a secured party under the
<br /> Nebraska Uniform Commercial Code.
<br /> Foreclosure by Power of Sde. If Lender elects to foreciose by exercise of the Power of Sele herein contained,Lender shail notify Trustee and
<br /> shall deposit with Trustee this Dsed of Trust and the Note and such receipts and evidence of expenditures made and secured by this Deed of
<br /> Trust as Trustee may require.
<br /> (a) Upon receipt of such notice irom Lender,Trustee shaU cause to be recorded,pubiished and delivered to Trustor such Notice of De(ault
<br /> and Notice of Sale as then required by law and by this Deed of Tn�st. Trustee shall,without demand on Trustor,after such time as mey
<br /> then be required by law and affer recordation of such Noace of Defauft and after Notice of Sale having been given as required by law,sell
<br /> the Property at the time and place of sale fixed by it in such Notice of Sale,either as a whole, or in separate lots w parcels or items as
<br /> Trustee shall deem expedient,and in such wder as it may determine,at public auction to the highest bidder for cash in lawful mor�y of
<br /> the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and su�nt deed or
<br /> deeds conv�ying the property so soid,but without any covenant or warranty,express or implied. The recitals in such deed of any matters
<br /> or facts shall be conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br /> purchase at such sale.
<br /> (b) As may be permitted by law,after deducting all costs,fees and expen5es of Trustee and of this Trust,including cosis of evidence of
<br /> tiHe in connection with sale,Trustee shall apply the proceeds of sale to payment of (i)all sums expended under the terms of this Deed of
<br /> Trust or under the terms of the Note not then repaid,including but not limited to accrued interest and late charges, (ii)all other sums then
<br /> secured hereby,and (iii)the remainder,if any,to the person or persons legally entiHed thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedtes Not bccluslve. Trustee and Lend�,and esch of them,shaN be entlUed to enforce payment and performance of any indebtedness
<br /> or obligations secured by this Deed of Trust and to exercise aH rights and pow�s under this Deed of Trust, under the Note, under any of the
<br /> Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding,some or all of such indebtedness
<br /> and obligations secured by this Deed of Trust may now or hereafter be otherwise secured,whether by mortgege, deed of trust, pledge, lien,
<br /> assignment or othervvise. Neither the acceptance of this Deed of Trust nor its enforcement,whether by court action or pursuant to the power of
<br /> sale or other powers contained in this Deed of Trust, shall prejudice or in any manner affect Trustee's or Lender's right to realize upon w
<br /> enforce any other security now or hereaRer t►eld by Trustee or Lender, it being agreed that Trustee and Lender, and each of them, shall be
<br /> entitled to enforce this Deed of Trust and any other security now or hereafter hold by Lender or Trustee in such order and manner as they or
<br /> either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or Lender, is intended to be
<br /> exclusive of any other remedy in this Deed of Trust or by lew provided or permitted,but each shell be cumulative and shall be in addition to
<br /> every other remedy given in this Deed of Trust or now or hereaRer e�ds6nq at law or in equity or by statute. Every power or remedy piven by the
<br /> Note or any of the Related Documents to Trustee or Lender or to which eifher of them may be otherwise entltled, mey be exercised,
<br /> concurrently or independendy, firom bme to time and as otten as may be deemed expedient by Trustee or Lender, and either of them may
<br /> pursue inconsistent remedies. Nothing in this Deed of Trust shaH be consUued as prohibitlnp Lender irom seeking a deficiency judgment
<br /> against the 7rustor to the extent such ecUon is permitted by law.
<br /> Request For Notice. Trustor,on behalf of Trustor and Lender,hereby requesis that a copy of any Notice of Defeult and a copy of any NoUce
<br /> of Sale under this Deed of Trust be mailed to them at the addresses set forth in the first paragraph of this Deed of Trust.
<br /> Waiver; Electiqi pf Remedies. A waiv� by any pa�ty of a bresch of a provision of this Deed of Trust sheN not consMute a waiver of or
<br /> prejudice the part�l's righis otherwise to demand strict compliance with that proviston or any other provision. Election by Lender to pursue any
<br /> remedy provided in this Dsed of Trust,the Note,in any Related Dxument,or provided by law shall not exclude pursuit of any other remedy,
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