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DEED OF TRUST 200209785
<br />[Continued) Page 5
<br />I ruslor', ability to repay the Indebtedness or perform their respective obligations under this Deed of Trust or any of the Related
<br />Documents.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Truster or on Trustor's behalf under this
<br />Used of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or
<br />becomes false or misleading at any time thereafter.
<br />Defective Collatsralization. This Deed of Trust or any of the Related Documents ceases 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 dissolution of Trustor's (regardless of whether election to continue is made), any member withdraws from
<br />the limited liability company, or any other termination of Trustor's existence as a going business or the death of any member, the
<br />solvency of Torsion, the appointment of a receiver for any part of Truster '.a property, any assignment for the benefit of creditors, any
<br />m
<br />type of creditor workout, or the comene.calof any proceeding under any bankruptcy or Insolvency laws by or against Truster.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self -help,
<br />repossession or any other method. by any creditor of Tractor or by any governmental agency against any property securing the
<br />Indebtedness. This includes a garnishment of any of Tructor's accounts, melanin, deposit accounts, with Lender. However, this
<br />Event of Default shall not apply if there is a good faith dispute by Truster as to the validity or reasonableness of the claim which Is the
<br />basis of the creditor or forfeiture proceeding and If Truster gives Lender written notice Of the creditor or forfeiture proceeding and
<br />deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in Its sole
<br />discretion, as being an adequate reserve or bond for the dispute.
<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 concerning any Indebtedness or other
<br />obligation of Trustor to Lender, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
<br />Guarantor dies or becomes nocampatent, or revokes or disputes the validity oT or liability under, any Guaranty of the Indebtedness.
<br />Adverse Change. A material adverse change occurs In Tractor's financial condition, or Lender believes the prospect of payment or
<br />performance of the Indebtedness is impaired.
<br />In ano.ri . Lender In good faith hal.eves itself insecure.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Dead of Trust, at any time thereafter, Trustee or Lender
<br />may exercise 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 />(a) Either In person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and
<br />without regard to the adequacy of Its security, enter upon and take possession of the Property, or any part thereat, in Its
<br />own name or in the name of Trustee, and do any 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 'md.madness secured by'this Deed of Tract. all In such order as
<br />Lender may determine. The smarmy upon and taking possession of the Property, the collection of such rents, issues and
<br />profits, and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust or
<br />invalidate any act done in response 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 />Lentler shall be entitled toe se every right provided for in the Note or the Related Documents or by low upon the
<br />occurrence of any event of default, Including the right to exercise the power of sale,
<br />(b) Commence an action in foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the
<br />covenant, incisor, and
<br />Iq Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to
<br />cause Trusfor's interest In the Property to be sold, which notice Trustee shall cause to be duly filed for mc.prd in the
<br />appropriate offices of the County in wNch the Property Is located; and
<br />(dl With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party
<br />under the Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sale. If Lender alerts to foreclose by exercise of the Power of Sale 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 and
<br />secured by this Deed of Trust as Trustee may require.
<br />(a) Upon receipt of such notice from Lender, Trustee shell cause to be recorded, published and delivered to Tractor such
<br />Notice of Default and Notice of Sale as then required by law and by this Dead of Trust Trustee shall, without demand on
<br />Trusts, 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 as required by law, sell the Property at the time and place of sale fixed by it in such Notice of Sale,
<br />either as a whole, or separate lots or parcels or items as Trustee shall deem expedient, and in such order as It may
<br />tletermine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of 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 r ant o warranty, express or implied. The recitals in such deed of any matters or facts shall he
<br />conclusive proof Of thin truthfulness thereof. Any person, Including without limitation Truster. Trustee, or Lender, may
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