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<br />disbursement at the rate of TWELVE PERCENT (12.00 %), unless payment of interest at such
<br />rate would be contrary to applicable law, in which event such amounts shall bear interest at the
<br />highest rate permissible under applicable law. Nothing contained in this Paragraph 10 shall
<br />require Lender to incur any expense or take any action hereunder.
<br />11. INSPECTION. Lender may make or cause to be made reasonable entries upon and
<br />inspections of the Property, provided that Lender shall give Borrower notice prior to any such
<br />inspection specifying reasonable cause thereof related to Lender's interest in the Property.
<br />12. REPRESENTATIONS AND WARRANTIES OF BORROWER. In order to
<br />induce Lender to execute and deliver this Deed of Trust and perform hereunder, Borrower makes
<br />the following representations and warranties to Lender, which representations and warranties shall
<br />remain in effect throughout the term of this Deed of Trust, and shall survive and shall be
<br />unaffected by any investigations, inspections or inquiries made by Lender, the recording of any of
<br />the Loan Documents, or the performance by Lender and Borrower hereunder:
<br />(a) Organization: Borrower is duly organized, validly existing and in good
<br />standing as a limited liability company under the laws of the State of Nebraska, is
<br />qualified, in good standing, and authorized to do business in each of the
<br />jurisdictions in which the nature of its activities or properties require such
<br />authorization, and has full power and authority to own its properties, carry on this
<br />business as now being conducted, and to enter into, deliver and perform under this
<br />Deed of Trust.
<br />(b) Authorization: The execution and delivery of this Deed of Trust and
<br />the satisfaction of Borrower's obligations hereunder have been duly authorized by
<br />all necessary company action in accordance with the laws of the State of Nebraska.
<br />Each of the Loan Documents, upon execution and delivery to Lender, constitutes a
<br />legally valid and binding agreement of Borrower, enforceable against Borrower in
<br />accordance with its terms, except as such enforcement may be qualified or limited
<br />by bankruptcy, insolvency, or other similar laws affecting creditors' rights in
<br />general.
<br />(c) No Contravention: The execution, delivery, and performance of this
<br />Deed of Trust by Borrower will not, immediately or with the passage of time, the
<br />giving of notice or otherwise, result in (i) the breach of, or constitute a default
<br />under, or in any manner release any party thereto from, or accelerate any
<br />obligations under, any of the terms or provisions of any lease, security agreement,
<br />mortgage, note, indenture, deed of trust, license, permit, contract, agreement, or
<br />other instrument or document of any kind or nature to which Borrower is a party
<br />of by which it or its property is bound or affected, or any restriction to which it or
<br />its property is subject, (ii) the creation or acceleration of any lien or encumbrance
<br />on the property of Borrower, (iii) a violation of any order, writ, injunction, or
<br />decree by which Borrower is bound of any court, administrative agency, or
<br />governmental body, or (iv) the breach of the terms of Borrower's Articles of
<br />Organization and Operating Agreement.
<br />(d) Disclosure: No representation or warranty of Borrower in this Deed
<br />of Trust or any statement or certificate furnished or to be furnished by Borrower
<br />pursuant to this Deed of Trust or in connection with the transactions contemplated
<br />herein contains or shall contain any untrue, inaccurate, or misleading statement of
<br />material fact or omits to state a material fact necessary in order to make a
<br />statement contained therein not misleading.
<br />(e) Financial Information: The most recent annual financial statements of
<br />the Guarantor, Michael D. Raasch, delivered to Lender during the loan application
<br />process at Lender's request (the "Annual Financial Statements and Federal Income
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