|
DEED OF TRUST 200s�o,�
<br />Loan No: 774633 (Continued) cJ G Page 5
<br />False Soateman[s. Any r....... .,,a. o statement made or furnished to Lender by Truster or an Trustor's behalf under this Deed of
<br />Trust or the Related Documents is false cr misleading in any material respect, either now or at the time made or furnished.
<br />Defective Collateralization. This Deed of Trust or any of the Related Documents pareas to be in full force and effect (including failure
<br />of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
<br />Death or Insolvency. The death of Trusts, the insolvency of Truster, the appointment of a receiver for any part of Trustor 's propertyr
<br />any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any
<br />banknrptny or insolvency laws by or against Truster.
<br />Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of Truster 's property In
<br />which Lender has a lien. This includes taking of, garnishing of or levying on Trustor's accounts with Lender. However, if Trustor
<br />disputes in good faith whether the claim on which the taking of the Property is based is valid or nable, and if Trustor gives
<br />Lender written notice of the claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, than
<br />this default pmvlson will not apply_
<br />Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that Is not
<br />remedied within any grace period provided therein. Including without limitation any agreement roncorning any indebtedness or other
<br />obligation of Trustor to Lender, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events n bours with respect To any guarantor, endorser, surety, or accommodation
<br />party of any of the Indebtedness or any guarantor, endoner, sorely, or modation party dies or becomes incompetent, o
<br />yokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. In the event of a death, Lentler, at its .pricer
<br />nay, but shall not be required to, permit the guarantor's estate to assume unconditionally s- itionally the obligation ansing under the yuarant, m
<br />a manner satisfactory to Lender, and, In doing so, cure any Event of Default.
<br />Insecurity. Lander In good faith believes Itself insecure.
<br />Right to Cure. If such a failure Is curable and if Truster has not been given a notice of a breach of the same provision of this Deed of
<br />Trust within the preceding twelve IT 2) months, it may be coed land no Event of Default will have occurred) if Trustor, after Lender
<br />.ands written notice demanding cure of such fade to: la) cures the failure within ten 110) days; or lb) if the cure requires more than
<br />sun 00) days, immediately initiates steps sufficient to cure the failure and thereafter eonnnues and completes all reasonable and
<br />necessary stops sufficient to produce Compliance as soon as reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default usual under this Dead of Trust, at any time thereafter, Trustee or Lender
<br />may exereacH 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.
<br />Lender may declare all Indebtedness secured by this Dead of Trust to be due and payable and the same shall thereupon become
<br />due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
<br />W1 Either in parson or by agent, with or without bringing any action or proceeding, or by are r appointed by a court and
<br />without regard to the adequacy of Its s viy, t enter upon and take possession of the Property, o s any part thereof, In Its
<br />own name or in then of Trustee. and do :my acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentability of the Property, or part of the Property or interest in the Property; increase the income from the
<br />Property or protect the security of the Property; and, with or without taking possession of the Property, sue for or otherwise
<br />collect the rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection attorneys fees, to any indebtedness secured by this Deed of Trust, all In such order as
<br />Lender may determine. The entering upon and taking possession of the Property, the collection of such rents, Is and
<br />profits. and tn. application thereof shall not cure or waive any default o notice of default under this Deed of issues
<br />or
<br />invalidate any act done espopea to such default or pursuant to such notice of default; and, notwithstanding the
<br />continuance in possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or
<br />Lender shall be entitled toe very right provided for in the Note or the Related Documents or by law upon the
<br />occurrence of any event of default, including the right to exercise the power of sale;
<br />A) Commoncu an action to f.reoloss this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the
<br />covenants hereof; and
<br />be) Deliver to Trustee a written declaration of default and demand for said and a written native of default and election to
<br />e Truant', interest in the Property to be sold, which nonce Trustee shall cause to be duly tiled for record In the
<br />appropriate otfices of the County In which the Property is located; and
<br />ld) With respect to all or any part of the Personal Property. Lender shall have all the rights and remedies of a secured party
<br />undor the Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sals 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 :red
<br />secured by this Dead 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
<br />Notice of Default and Notice of Sala us then required by law and by this Dead of Trust_ Tmstee shall, without demand on
<br />Trustor, after such time as may then be required by law and after recordation of such Notice of Default and after Notice of
<br />Sale having been given a required by law, sell the Property at the time and place of sale fixed by it in such Notice of Sale,
<br />either a whole, o as
<br />Into or parcels or items as Trustee shall deem expedient, and in such order as it may
<br />determine, at public auction to the highest bidder for cash In lawful m nay of the United States payable at the time .f sale.
<br />Trustee shall deliver to such purchaser or purchasers thereof Its good and sufficient deed or deeds conveying the property so
<br />Sold, but without any covenant or warranty, express or implied. The recitals In such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br />
|