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.` ' � 9 � 111532
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<br /> ' 1l. Cvenls o[llefeult.� 'I'he followtng ehall constitute nn I3vcut of llefault undcr tliis Uecd of Trust:
<br /> • (a) Failure to pay any Installment of principal or lnterest of any otl�er sum secured I�ereby wl�en duc;
<br /> � (b) A breach of or Jefault under any provision coutained in ti►o Note, tlils Ueed of Truat, any of q�e Loan Iustruments, or
<br /> �any otl�er lien or encumbrance upon Q�e Properly;
<br /> (c) A writ of execution or attacl�ment or any almilar process sl�all be entered agalnat Trustor wlilcli al�all become a lien on
<br /> ihe Property or e�y portion U�ereof or lnterest Wereiu; •
<br /> (d) Tl�ere ahall be filed by or against Trustor or porrower an action,under any present or f�ture federal, state or other
<br /> ' statute� law or regulatlon relating to bankruptcy, lnsolvency or other relicf for debtora; or there shall be appointed any trustee,
<br /> �receiver or liquidator of Trustor or porrower or of ail or any part of tl�e Property, or the rents, �ssues or profits d�ereof, or
<br /> Trustor or porrower sl�all make any general assignment for tl�e I�eneCt of creditora;
<br /> (e) Tl�e sale, transfer, lease, assignment, conveyance or furtl�er encmnbrance of all or any part of or any lnterest in the
<br /> Property, either voluntarlly or involuntatily, witl�out tlie express wrltten consent of Lender; provided that Trustor shall be
<br /> permitted to eaecute a leasa of tlie Property that does not conlain an option to purchase and ll�e tecm of wl�icl� does not exceed
<br /> � one year. ,, i � ., , . .
<br /> (� Abandonment�of il�e Property; or � ' �
<br /> ' (g) If Trustor is not an Individual, tl�e lssuance, sale, transfer, assignment, conveyance or encumbrance of more than (if a
<br /> corporation) a total of Ni�_percent of its issued and outstanding stock, or (if a partnership) a total of N/p percent
<br /> of parmership lnterests, or(if a limited UaUility cotnpany) a total of N�A percent of tl�e limited liability company interests
<br /> or voting rights during thc perlod Q�Is Deed of Trust remains a lien on the Property.
<br /> (h) If the obligation secured hereby is guaranteed in wl�ole or in part by tl�e Farmera �iome Administration, borrower furtl�er
<br /> agrees tl�at tlie loan(s) secured by tlds instrument will Ue in default sl�ould any loan proceeds be used for a purpose Q�at will
<br /> contribute to excessive erosion of liigl�ly erodible land or to tl►e conversion of wetland to produce or to make possible U�e
<br /> production of en agricultural commodity, as furtl�er explai��ed in 7 CrR Part 1940, Subpart Cl, Exl►iblt M.
<br /> 12.Remedles; Acceleratlon Upon llefault. In tl�e eve��t of any L�vent of Default Lender may, witl�out notico except as required
<br /> by law, declare all indebtedness secured hereby to be due enJ payable and tl�e eama ehalf tl�ereupon becoma due a��d payablc
<br /> without any presentment, deqiand, protest or notice of any kind. 7'i�ereafter Lencier mey; '
<br /> (a) Uemand tl�at'I'rustee exercise tl�e POWL�R OF SALI3 gra�ded I�ereln, and Truatee si�all tliereafler ceuse Trustor's interest
<br /> in Uu Property to be eold end the rroceeda to bc clisttibuted, all In the ntanner provlJed (n tl�e Nebraska Trust Deeds Act;
<br /> (b) L�xercise any and all rights proviJed for in any of ll�e Loan Iu9truments or by law upon occurrence of any Event of
<br /> Default; and
<br /> (c) Cotnmence an actlon to foreclose tlila Decd of Truat As a tnortgaga, appolnt a recelver, or epeci[icalty enforce any of ti�e
<br /> covenants lureof. �
<br /> No remedy I�erein conferred upon or reserved to Trustee or Lencler is lntended to be exclusive of any otl�er rernedy lierein, in tl�e
<br /> Loan Instruments or by law provlded or permitted, but eacl� sl�all be cumulative, sl�all be ln addition to every oQ�er remedy given
<br /> I�ereunder, in tlie Loan Instruments or now or l�ereaCter existing at law or in equity or by atatute, and may be exercised concurrently
<br /> independently or successtvely.
<br /> 13.'I�rustee. The Trustee may resign at any t�ms witl�out cause, and Lender may at any time and witliout cause appoint a
<br /> successor or substitute Tcustee. Trustee shali not b� liable to any party, inclucling without limitation L,ender, Borrower, Trustor or
<br /> any purchaser of tl�e Property, for any loss or damage unless due to reckless qr willful misconduct, and sl�all not be required to take
<br /> any action irt connection with the enfarcement of Qiis beed of Trust unless indemnified. in writing, for all costs, compensation or
<br /> expenses which may be associated Q�erewitl�. In addilion, Trustee tnay Uecome a purcl�asec at any sale of the Property (judicial or
<br /> under tl�e power of sale granted hereln); postponc U�e sale of all or any portion of tlie Property, as provided by law; or sell the
<br /> . Property as a whole;or ln separate parcels or lots at Trustee's discretion.
<br /> 14.Fees and Eapenses. In the event Trustee sella the Property Uy exercise of power of sale, Trustee sliall be entitled to apply
<br /> any sale proceeds first to payment of all costs and expenses of exercising power of sale, lncluding al( Trustee's fees, and Lender's
<br /> and Trustee's attorney's fees, actually incurred to extent permitted by applicable law. In d�e event Borrower or Trustor exercises
<br /> any riglit provided by law to cure an Event of Default, LenJer sl�all be entitled to recover from Trustor all costs and eapenses
<br /> actually incurred as a result of Trustor's default, including witl�out limitatton all Trustee's and attorney's fees, to U�e extent
<br /> permitted by applicable law.
<br /> 15.Future Advances. Upon request of Dorrower, Lender may, at jts option, make additional and future advances and
<br /> readvances to Borrower. Sucl� advances and ceadvances, witl� interest tl�ereon, shall be secured by this Deed of Trust. At no time
<br /> ' shall the principal amount of the indebtedness secured by tliis Ueed of Trust, not Including sums advanced to protect tlie security of
<br /> this Deed of Trust, exceed U�e aggrogate of tl►e original principal amounts stated herein, or $_ 725,000.00 ,
<br /> whicluver is greater. .
<br /> • 16.Miscellaneous Provlstons.
<br /> (a) Iiorrower Not Released. Extension of tlie tlme for p�yment or modificaHon of amortizadon of the sums secured by tt�is
<br /> Deed of Trust granted by Lender to any auccessor iu Inlerest of Dorrower sl�all not operate to release, in any manner, tl�e
<br /> liability of thc original Dorrower and I3orrower's successora 1n lnterest. Lender ahall not be required to commence proceedings
<br /> against such successor or refuse to extend time for pay�nent or otl�erwlse modify a►norlization of tl�e sums secured by tliis Deed
<br /> of Trust by reason of any demancls macie Uy tl�e orlginal Dorrower and Borrower's successors in interest.
<br /> (b) I.ender's Powera. WiQ�out affecting tl�e liability of any otl�er person Ifable for tl�e payment of any obligation I�ereln
<br /> mentioned� and whhout affecdng the lieu or cl�arge of Uiia Deed of Truat upon any portton of the Property not then or
<br /> U�eretofore released as secutity for We full amount of all unpald oUllgations, Lender may, from time to tlme and witl�out notice
<br /> (i) release any person so IiaUle, (ii) eatend tl�e maturity or alter any of tlie tertna of any such obligatlons, (ifi) grant otl�er
<br /> lnduigences, (iv) release or reconvey, or cause to be released or reconveyed at ay lime at Lender's optlon any parcel, portion or
<br /> all of Il�e Property, (v) take or release any otl�er or additional securlty for any oblfgation 1►erein mentioned, or (vi) make
<br /> compositions or oWer arrangements witl�debtors in relation thereto. , , . ,
<br /> (c) Forbearance by Lender Not a Waiver. Any forbearance Uy Lender In exerclsing any right or remedy hereunder, or
<br /> otherwise afforded by applicable law, shall not be a waiver of or preclude tl�e exercise of any such right or remedy. Tl�e
<br /> procurement of insurance or the payment of taaes or otl►er liens or cl�arges by L.ender sl�all not be a waiver of I.ender's right to
<br /> � accelerate U�e maturity of Uie indebtedness secured by tl�is Deed of Trust.
<br /> (d) Successora and Ass(gns Bound;Joint and Several Llabillty; Capt(ons. Tl�e covenants and agreements herein contained
<br /> shall bind, and tl�e rights hereunder shall inure to, tl�e respective successdrs and assigns of Lender aud Trustor. All covenants
<br /> and agreements of Trustot shall be joint and several. 7'lie captions and I�eaelings of tl�e paragrapha of Uiis Deed of Trust are for
<br /> convenience only and are not to be used to interpret br detlne tlie provisions hereof. ,
<br /> (e) Request for Notices. Tl�e perties I�ereby request tt�at a copy of any notice of default hereunder and a copy of any notice
<br /> of sale I�ereunder be mailed to eacli party to tliis Deed of Trust at tl�e address set forth above in tt�e manner prescrlbed by
<br /> • applicable law. Eacept for any otlier notice requlred under applicable law to ba given in anotl�er manner� any notice provided
<br /> for in tliis Deed of Trust shall be given by mailing sucl� notice by certified mail addressed to U�e otl�er parties, at ti�e address set
<br /> forth above. Any notice provided for in tl�is lleed of Trust sl�all ba effective upon mailing in tl�e manner deslgnated i�erein. If
<br /> Trustor is more than one person, notice sent to tl�e address aet fortl�above sl�all ba notfce to all auch persons.
<br /> (Q InspecUon. Lender may make or cause to be made reasonable entries upon and (nspecdons of the Properry, provided i
<br /> Ihat I�nder shall give Trustor notice prior to any aucli inspection specifying reasonable cause'Q�erefor related to I.ender's j
<br /> interest in tlie Property. , . �
<br /> (g) Reconveyance. Upon payment of all eums sectired by tl�is Deed of Trust, LenJer al�all request Trustee to reconvey t1�e
<br /> Property end sl�all sucrender tl�ls Deed of Trust nnd all notes evidencing Indehtednesa eecured by tl�is Deed of Truet to Truetee.
<br /> Truatee sliell reconvey tlie Property witliout warranly nnd without cl�arga to tba peraon or persous Icgally enlitled tliereto.
<br /> Trustor eliall pay all costs of recordatlon, If any, .
<br /> NoCNtT111ApkWn.J Wrd)R.+.Olflb . ., � • . � � 't , .
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