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Loa No: 31432 DE(Cont (Continued) 200405287
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<br />Trustor and at Trustors expense. For such purposes, Trustor hereby irrevocably appoints Lender as Trustor's attorney4n —fact for -the
<br />purpose of making, executing, delivering, filing, recording, and doing all other things as may be =necessary or desirable, in Lender's sole
<br />opinion, to accomplish the matters referred to in the preceding paragraph.
<br />FULL PERFORMANCE. If Borrower pays all the Indebtedness when due, and otherwise performs all the obligations imposed,upon Trustor under
<br />this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and 'deliver to Trustor suitable
<br />statements of termination of any financing statement on file evidencing Lender's security interest in the Rents andAhe ;Personal Property. Any
<br />reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
<br />Payment Default. Borrower fails to make any payment when due under the Indebtedness.
<br />Other Defaults. Borrower or Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained in this
<br />Csed of Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenantor condition contained in
<br />any other agreement between Lender and Borrower or Trustor.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Dee;i`x j1-ru'st, the Note or in
<br />any of the Related Documents.
<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 warranty, representation or statement made or furnished to Lender by borrower or Trustor or on Borrower's or
<br />Trustors behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the time
<br />made or furnished or becomes false or misleading at any time thereafter.
<br />Defective Collateralization. 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 dissolution of Trustees (regardless of whether election to continue is made), any member withdraws from the
<br />limited liability company, or any other termination of Borrower's or Trustors existence as a going business or the death of any member, the
<br />insolvency of Borrower or Trustor, the appointment of a receiver for any part of Borrower's or Trustors property, any assignment for the
<br />benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or
<br />against Borrower or Trustor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self —help,
<br />repossession or any other method, by any creditor of Borrower or Trustor or by any governmental agency against any property securing the
<br />Indebtedness. This includes a garnishment of any of Borrower's or Trustors accounts, including deposit accounts,, with Lender. However,
<br />this Event of Default shall not apply, if there is a good faith dispute by Borrower or Trustor as to the validity or reasohabieness of the claim
<br />which is the basis of the creditor or forfeiture proceeding and lt Borrower or Trustor gives Lender �rritten noti6q of fhi creditor or forfeiture
<br />proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount- determined by Lender,
<br />in its sole discretion, as being an adequate reserve or bond for the dispute.
<br />Breach of Other Agreement. Any breach by Borrower or Trustor under the terms of any other agreement between Borrower or Trustor and
<br />Lender that is not remedied within any grace period provided therein, including without limitation any agreement concerning any
<br />indebtedness or other obligation of Borrower or 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. 44 -A.
<br />Adverse Change. A material adverse change occurs in Borrower's or Trustors financial condition, or Lender believes the prospect of
<br />payment or performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<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; Additional 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 ot-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 Deed of Trust or invalidate any act done in response tq,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,Yn tt a 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 />Trustors interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record.,ip,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 notify
<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 warranty,
<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 remainder, if any, to the person or persons!legally entitled thereto,
<br />(c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
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