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DEED OF TRUST 200207324 Loan No: 5792 (Continued) Page 2 A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal, beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed leasehold interest with a term greater than three (3) years, lease— option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real Properly, or by any other method of conveyance of an interest in the Real Property. However, this option shall not be exercised by Lender if such exercise Is prohibited by federal law or by Nebraska law. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust: Payment. Truster shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water and sewer), fines and impositions levied against or on account of the Properly, and shall pay when due all claims for work done on or for services rendered or material furnished to the Property. Truster shall maintain the Property has Of all liens having priority over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Dead of Trust. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust. Maintenance of Insurance. Truster shall procure and maintain polieie5 of fire insurance with standard extended coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid applicator of any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such other hazertl and liability insurance as Lender may reasonably require. Policies shall be written In form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Truster, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Truster or any other person. Should the Real Properly be located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Truster agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that the Property is located in a special Hood hazard area, for the full unpaid principal balance Of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan. LENDER'S EXPENDITURES. If Truster fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other claims, (B) to provide any required insurance on the Property, or (C) to make repairs to the Property then Lender may do so. If any action or proceeding is commenced that would materially affect Lender's interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender believes to be appropriate to protect Lender's interests. All expenses Incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Truster. All such expenses will become a pad of the Indebtedness and, at Lender's option, will (A) be payable on demand (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part Of this Deed of Trust: Title. Truster warrants that: (a) Truster holds goad and marketable title of record to the Property in fee simple, free and clear of all liens antl encumbrances other than those set forth in the Real Property description or in any title insurance policy, title reach, or final title opinion issued in favor of, and accepted by, Lender In connection with this Dead of Trust, and (b) Truster has the full right, power, and authority to execute and deliver this Deed of Trust to Lentler. Defense of Title. Subject to the exception in the paragraph above, Truster warrants and will forever defend the title to the Property against the lawful claims of all persons. EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following happen: Payment Default. Borrower fails to make any payment when due under the Indebtedness. Break Other Promises. Borrower or Truster breaks any promise made to Lender Or fails to perform promptly at the time and strictly in the manner provided in this Deed of Trust or in any agreement related to this Deed of Trust. Compliance Default. Failure to comply with any Other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in any Of the Related Documents. Default on Other Payments. Failure of Truster within the time required by this Deed of Trust to make any payment for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien. Death or Insolvency. The death of Borrower or Truster, the insolvency of Borrower or Truster, the appointment of a receiver for any part of Borrower's or Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Truster. Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. In the event of a death, Lender, at its Option, may, but shall not be required to, permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty In a manner satisfactory to Lender, and. in doing so, cure any Event of Default. Insecurity. Lender in good faith believes itself insecure. RIGHTS AND REMEDIES ON DEFAULT. Upon the Occurrence of any Event of Default under any indebtedness, or should Borrower or Truster fail to comply with any of Borrower's or Trusor's obligations under this Deed of Trust, Trustee or Lender may exercise any one or more of the following rights and remedies: Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Note secured hereby, Lender may declare all Indebtedness secured by this Dead of Trust to be due and payable and the same shall thereupon become due and payable without any presentment, demand protest or notice of any kind. Thereafter, Lender may: (a) Either in person or by agent, with or without bringing any action or pretending, or by a receiver appointed by a could antl without regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part of the Property or interest in the Property; increase the income from the Property or protect the security of the Property; and, with or without taking possession of the Property, sue for or otherwise collect the rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection attorneys' fees, to any indebtedness secured by this Deed of Trust, all in such order as Lender may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits, and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust or invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the continuance in possession of the Property or the collection, recelpt and application of rents, issues or profits, Trustee or Lender shall be entitled to exercise every right provided for in the Note or the Related Documents or by law upon the occurrence of any event of default, including the right to exercise the power of sale; (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the covenants hereof; and (c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the appropriate offices Of the County in which the Property is located; and (d) With respect to all or any pad of the Personal Property, Lender shall have all the rights and remedies of a secured party under the Nebraska Uniform Commercial Code.