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200205401
<br />25. Events of Debater. Each of the following acc✓"fareas shall constitute ea event of default hereunder, (hereinafter an 'Event of Default%:
<br />(a) Any amount payable under the Obligations secured by this Deed of Treat is not paid when due, after giving effect to any applicable
<br />grace period therein,
<br />Ili) Tres for is otherwise in default under the terms of his Obligations,
<br />Ic) True tar rails to observe or perform any of the covenants, agreements, or conditions in his Diurnal Trust,
<br />(d) Any representation or warranty including, but not limited to, any warranty of title made by Truster in this Deed of Trust is false or
<br />mater /elfy rends.ding, or
<br />(e) Truster sells or conveys the Tmst Property, or any pert thereof, or any interest therein, or is divested of its tide, or any interest
<br />therein, in any manner or way, whether valuating, or fnvo/unndly, without the prior written consent of Beneficiary.
<br />26. Acc Nava p of Debt, £orechadive Upon the occurrence of any Event of Default, or any rime thereafter until such Event of Default is
<br />cured to the satisfaction of Beneficiary. Beneficiary may, at its option, declare elf Obligations secured hereby immediately due and peeble
<br />and the same shall bear interest at the default rate, if any, set forth In the Note or the default rate, if any, set forth in the most recent
<br />obligation ca vered by the Guaranty, or otherwise at the highest rate permitted by law, and, irrespective of whether Beneficiary exercises
<br />said option, it may, at its option end in its sale discretion, without any further notice or demand to or upan Trustor, do one or more of
<br />the following:
<br />(a) Beneficiary may enter upon, take possession of, manage and operate Me Trust Property or any part thereof, make aspires and
<br />alterations and do any acts which Beneficiary deems proper To protect the security thereof, and either with or without taking
<br />possession, in its over name, sue for or otherwise collect and receive rents, issues and profits, including those past due and unpaid, and
<br />apply the same, less costs and expenses of operation and collection, including reasonable attorneys' tees and Beneficiary's costs, upon
<br />the Obligations secured hereby and in such order as Beneficiary may determine. Upon request of Beneficiary, T star shall assemble and
<br />shall make available to Beneficiary any of the Trust Property which has been removed The entering upon and taking possession of the
<br />Trust Property, the collection of any rents, issues and profits, and the application thereof as aforesaid, shell not cure or waive any
<br />default theretofore or thereafter occurring, or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant
<br />to any such notice. Notwithstanding Beneficiary's continuance in possession or receipt and application of rents, issues or profits,
<br />Beneficiary shall be entitled To exercise every right provided for in this Deed of Trust or by law (man or after the occurrence of an Event
<br />of Default, including the right to exercise Me power of sale. Any of the actions referred to in this Section may be taken by Beneficiary at
<br />such rime as Beneficiary may determine without regard to the adequacy of any security for the Obligations secured hereby.
<br />(b) Benehui iry shall, without regard to the adequacy of any security for the Obligations secured hereby, be entitled to (he appointment
<br />of a receiver by any court having jurisdiction, without notice, To take possession of, protect, and manage the Trust Property and operate
<br />the same and collect the rents, issues and profits therefrom.
<br />(c) Beneficiary may bring any action in any court of competantjunsdction to foreclose this Deed of Trust or enforce any of the
<br />covenants hereof.
<br />elect to
<br />the
<br />this
<br />such notice of sell as may than be required by law, Trustee, at the time and place specified by the notice of sale, shall sell such Trust
<br />Property, or any pert thereof specified by Benebciery at public auction to the highest bidder for cash in lawful money of the United
<br />Sates of America. Upon remain of payment of the bid price, Trustee shall apply the proceeds in the following order, (i) to the cost and
<br />expenses of exercising the power of sale and of the sale, including but not limited m, trustee's fees of not more than $500.00 plus
<br />one half of one percent of the gross sale price, and reasonable attorneys' fees, (it) to the Obligations, and (iii) the excess, if any, to the
<br />person or persons legally entitled thereto.
<br />All costs and expenses incurred by Beneficiary in enforcing any right under this Deed of Trust, including without limitation, abstract m title
<br />fees, appraisal fees, premiums for title insurance, sttomeys' fees and court costs, shall be and constitute Obligations secured hereby.
<br />17. Duties of Trustees. Truster agrees that.
<br />(a) The duties and obligations of Trustee shall be determined solely by the express provisions of this Deed of Trust and Trustee shall not
<br />be liable except for the perionnance of such duties and obligations as are specifically set forth herein, and no implied covenants or
<br />Obligations shall be imposed upon Trustee,
<br />(b) No provision of this Deed of Trust shell require Trustee to expend or risk its own funds, or otherwise incur any financial obligation in
<br />the performance of any of its duties hereunder, or in the exercise of any of its rights or powers,
<br />(c) Trustee may consult with counsel of its own choosing and the advice of such counsel shall be full and complete authorization and
<br />protection in the respect of any action taken or suffered by It hereunder in good faith and reliance thereon, and
<br />(d) T .stee shall not be liable for any action taken by it in good faith and reasonably believed by it to be authorized or within its
<br />discretion or rights or powers conferred upon it by this Deed of Treat.
<br />38, Security re
<br />Agpement and Fixture re filing, From the data of its recording, this Deed of Trust shall constitute a security agreement and
<br />fixture filing at at the provisions of the Nebraska Uniform Commercial Code wife respect to those fixtures described in the preambles hereof
<br />as constituting a part of the Trust Property, together with all other property of Duster, either similar or dissimilar to the same, now or
<br />hereafter located at or on the Trust Property, For this purpose, the folio wing information is set forth.'
<br />(a) Name and Address of Debtm/Tmste, (b) Name and Address of Secured Party/8eneficiery:
<br />Michael T. Leaman and Ralisa E. Leaman Wells Fargo Bank Nebraska, N.A.
<br />2829 Ft. Worth Ave
<br />Grand Island, NE 68803 Grand Island, NE 68801
<br />(c) Deb m-a Social Security Number /Federal Taxpayer TO Number 505 -02 -3075
<br />(d) This document coven goods which are or are to become hilmes.
<br />(e) The name of the record owner of the Trust Property is the Debtor/( star described above.
<br />29. Future Advances. Beneficiary, at Beneficiary's option, prior to full reconveyance of the Trust Property by Trustee to Truster, may make
<br />furore advances to Truster. Such future advances, with tolerant thereon, shell be secured by this Deed of bust At no time shall The principal
<br />amount of the Obligations secured by this Deed of Trust not including sums advanced To protect the security, exceed the total sum of
<br />S
<br />Nothing herein contained shall imply any obligation an the part of the Beneficiary to make any such additional advances.
<br />Advances of disbursements made by Beneficiary to protect the security, untler the terms hereof, while discretionary, shall not be deemed to
<br />be optional advances.
<br />30. Reromreyence. Upon payment of all Obligations secured by this Deed of Tmst Beneficiary shell request Trustee to feconvey the Trost
<br />Property and shall surrender this Deed of Dust and all notes evidencing Obligations secured by this Deed of Trust to Trustee. Trustee shall
<br />reconvey the Tmst Property without warranty and without charge to the person or persons legally entitled then to. Such person or persons
<br />shall pay all costs of recordation, if any
<br />31 Substitute Toodaa. Beneficiary, at its option, may from time to time remove Trustee and appoint a Successor Trustee to an y Trustee
<br />appointed
<br />operty, he Successor Trustee shall succeed to al /halt/ uppowler and duties Deed
<br />onferred upon Trustee herein inand by applicable swe Trust
<br />32. Mhezeffeneous Rights of Beneficiary. Beneficiary may at an y time and from time to time, without notice, consent to The making of any
<br />plat of the Trust Property or the creation of any easement thereon or any covenants recording use or occupancy thereof or agree to alter or
<br />amend the terms of this Deed of Trust. Any personal property remaining upon the Trust Property -fill the Trust Property has been possessed
<br />or occupied by Beneficiary, its agent or any purchaser following Tins gee's sale or foreclosure, or under any deed in lieu of Trustee's safe or
<br />foreclosure, shall be conclusively presumed to have been abandoned by Trustor.
<br />33. this for hereby requests that a copy of any notice Of default and notice of sale made or executed by Trustee pursuant to the provisions
<br />hereof be sent to Trustor aide mailing address set forth above.
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