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200409643
<br />grant of any leasehold interest of three (3) years or less which does not contain an option to purchase, such action is a breach of this
<br />agreement, and Beneficiary may, at Beneficiary's option, declare all the sums secured by this Trust Dee*1 to be immediately due and
<br />payable; provided, further, this Trust Deed may, at Beneficiary's option, be declared immediately due and payable if (1) Trustor is a
<br />partnership and any interest in the partnership is sold or assigned by any means whatsoever, or (2) if the Trustor is a corporation and a
<br />transfer of the majority stock ownership interest in the corporation occurs or the Trustor corporation merges in any form with another
<br />corporation or entity. Beneficiary shall have waived such option to accelerate if, prior to the sale, transfer, or conveyance, Beneficiary
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to
<br />Beneficiary and that the interest payable on the sums secured by this Trust Deed shall be at such rate as Beneficiary shall request.
<br />12. ACCELERATION UPON DEFAULT; REMEDIES; SALE. The failure by the Trustor to make any payment or to
<br />perform any of the terms and conditions of this Trust Deed, or the terms and conditions of the Note, or any renewals, modifications, or
<br />extensions thereof, or the failure to make payment of any other indebtedness, prior or subsequent to this Trust Deed, and secured by this
<br />property, or the death of one or more Trustors, shall be a breach and default of this Trust Deed and the Beneficiary may declare a default
<br />and may declare all sums secured hereby immediately due and payable, and the same shall thereupon become due and payable without
<br />presentment, demand, protest or notice of any kind, provided Trustor shall have any statutory right to cure the default before any notice of
<br />default and demand for sale may be delivered to the Trustee. Thereafter, Beneficiary may deliver to Trustee a written declaration of
<br />default and demand for sale. Trustor agrees and hereby grants that the Trustee shall have the power of sale of the Property and, if
<br />Beneficiary decides the Property is to be sold, it shall deposit with Trustee this Trust Deed and the Note or notes and any other documents
<br />evidencing expenditures secured hereby and shall deliver to Trustee a written notice of default and election to cause the property to be
<br />sold, and Trustee, in turn, shall prepare a similar notice in the form required by law, which shall be duly filed for record by Trustee.
<br />(a) After the lapse of such time as may be required by law following the recordation of Notice of Default, and Notice of
<br />Default and Notice of Sale having been given as required by law, Trustee, without demand on Trustor, shall sell the Property, if not
<br />redeemed, in one or more parcels and in such order as Trustee may determine on the date and the time and place designated in said Notice
<br />of Sale, at public auction, according to law.
<br />(b) When Trustee sells pursuant to the powers herein, Trustee shall apply the proceeds of the sale to payment of the costs
<br />and expenses of exercising the power of sale and of the sale, including, without limitation, attorneys' fees and the payment of Trustee's
<br />Fees incurred, which Trustee's Fees shall not, in the aggregate, exceed the following amounts based upon the amount secured hereby and
<br />remaining unpaid at the time scheduled for sale: 5 percentum on the balance thereof and then to the items in subparagraph (c), in the order
<br />therein stated.
<br />(c) After paying the items specified in subparagraph (b), if the sale is by Trustee, or if the sale is pursuant to judicial
<br />foreclosure, the proceeds of sale shall be applied in the following order:
<br />(1) cost of any evidence of title procured in connection with such sale and of any revenue transfer fee required to
<br />be paid;
<br />(2) all obligations secured by this Trust Deed;
<br />(3) junior trust deeds, mortgages, or other lienholders;
<br />(4) the remainder, if any, to the person legally entitled thereto.
<br />13. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written instrument
<br />executed and acknowledged by Beneficiary, mailed to Trustor and recorded in the county or counties in which the Property is located and
<br />by otherwise complying with the provisions of the applicable laws of the state of Nebraska, substitute a successor or successors to the
<br />Trustee named herein or acting hereunder.
<br />14. INSPECTIONS. Beneficiary, or its agents, representatives, or employees, are authorized to enter at any reasonable
<br />time and in accordance with the terms of existing leases and the Nebraska Landlord Tenant Act upon or in any part of the Property for the
<br />purpose of inspecting the same and for the purpose of performing any of the acts it is authorized to perform under the terms of the Trust
<br />Deed.
<br />15. OPTION TO FORECLOSURE. Upon the occurrence of any breach and upon the declaration of default hereunder,
<br />Beneficiary shall have the option to foreclose this Trust Deed in the manner provided by law for the foreclosure of mortgages on real
<br />property.
<br />16. FORBEARANCE BY BENEFICIARY OR TRUSTEE NOT A WAIVER. Any forbearance by Beneficiary or
<br />Trustee in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the
<br />exercise of any such right or remedy. Likewise, the waiver by Beneficiary or Trustee of any default of Trustor under this Trust Deed shall
<br />not be deemed to be a waiver of any other or similar defaults subsequently occurring.
<br />17. BENEFICIARY'S POWERS. Without affecting or releasing the liability of the Trustor or any other person liable for
<br />the payment of any obligation herein mentioned, and without affecting the lien or charge of this Trust Deed upon any portion of the
<br />Property. Beneficiary may, from time to time and without notice at the request of one or more Trustors, (i) release any person liable, (ii)
<br />extend or renew the maturity or alter any of the terms of any such obligations, (iii) grant other indulgences, (iv) release or reconvey, or
<br />cause to be released or reconveyed, at any time at Beneficiary's option any parcel or all of the Property, (v) take or release any other or
<br />additional security for any obligation herein mentioned, (vi) make settlements or other arrangements with Trustor in relation thereto. All
<br />Trustors shall be jointly and severally obligated and bound by the actions of the Beneficiary or any one or more Trustor as stated in this
<br />paragraph.
<br />18. ATTORNEY FEES, COSTS, AND EXPENSES. The Beneficiary of this Trust Deed is entitled to the payment of
<br />attorneys' fees, costs, and expenses as provided in this Trust Deed, except as otherwise prohibited by law.
<br />19. RECONVEYANCE BY TRUSTEE. Upon written request of Beneficiary and upon payment by Trustor of Trustee's
<br />fees, Trustee shall reconvey to Trustor, or the person or persons legally entitled thereto, without warranty, any portion of the Property then
<br />held hereunder. Recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The grantee in
<br />any reconveyance may be described as "the person or persons legally entitled thereto."
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