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<br />disbursement at the Secured Debt rate and shall be payable, with interest, upon notice from Lender to Truster requesting
<br />payment.
<br />14. DEFAULT. Truster will be in default if any party obligated on the Secured Debt fails to make payment when due- Trustor will
<br />be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the purpose of
<br />creating securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any Hine is insecure
<br />with respect to any person or entity obligated on the Secured Debl or that the prospect of any payment or the value of the Property
<br />is impaired shall also constitute an event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trustor with notice of
<br />the right to cure or other notices and may establish time schedules for foreclosure actions- Subject to these limitations, if any,
<br />Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Truster is in
<br />default
<br />Al the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. In
<br />addition, Beneficiary shall be entitled to all the remedies provided by law, the terns of the Secured Debt, this Security Instrument
<br />and any related documents. including without limitation, die power to sell the Property .
<br />If there is a default, Trustee shall, in addition to any other Permitted remedy, at the request of the Beneficiary, advertise and sell
<br />the Property as a whole or in Separate parcels at public auction to the highest bidder for cash and convey absolute title free and
<br />clear of all right, title and interest of Truster at such time and place as Trustee designates. Trustee shall give notice of sale
<br />including the time. terms and place of sale and a description of the property to he sold as required by the applicable law in effect
<br />at the time of the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by law. Trustee shall make and deliver a deed to the Property sold
<br />which conveys absolute title to the purchaser. and after first paying all fees, charges and costs, shall pay to Beneficiary all moneys
<br />advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon, and the principal and
<br />interest on the Secured Debt, paying the surplus, if any. to Trustor. Beneficiary may purchase the Property. The recitals in any
<br />deed of conveyance shall be prima facie evidence of the facts set forth therein. All remedies are distinct. cumulative and not
<br />exclusive, and the Beneficiary is entitled to all remedies provided at law or equity, whether or not expressly set forth. The
<br />acceptance by Beneficiary of any sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated
<br />or after foreclosure proceedings are filed shall not constitute a waiveT of Beneficiary 's right to require complete cure of any
<br />existing default. By not exercising any remedy on Trusters default, Beneficiary does not waive Beneficiary's right to later
<br />consider the event a default if it continues or happens again.
<br />16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by
<br />law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this Security Instrument Truster will
<br />also pay on demand any amount incurred by Beneficiary, for insuring, inspecting, preserving or otherwise protecting the Property
<br />and Beneficiary's security interest. These expenses will bear interest from the date of the payment until paid in full at the highest
<br />interest Tale in effect as provided in the terns of the Secured Debt. Trustor agrees to pay all costs and expenses incurred by
<br />Beneficiary in collecting enforcing or protecting Beneficiarys' rights and remedies under this Security Instrument. This amount
<br />may include, but is not limited to, attorneys' fees, court costs, and other legal expenses- This Security instrument shall remain in
<br />effect until released. Truster agrees to pay for any recordation costs of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (l) Environmental Law means,
<br />without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et
<br />seq.). and all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive
<br />letters concerning the public health. safely, welfare, environment or a hazardous substance; and (2) Hazardous Substance means
<br />any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance
<br />dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any
<br />substances defined as "hazardous material, "toxic substances," .. hazardous waste," or 'hazardous substance" under any
<br />Environmental Law_
<br />Trustor represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be located,
<br />stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous Substances that are
<br />generally recognized to be appropriate for the normal use and maintenance of the Property.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficiary, Truslor and ever). tenant have been, arc, and
<br />shall remain in full compliance with any applicable Environmental Law
<br />C. Truster shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on, under or
<br />about the Property or there is a violation of any Environmental Law concerning the Property. In such an ocat, Truster shall
<br />take all necessary remedial action in accordance with any Environmental Law.
<br />NLBRAS" -DEED OF TRUS r
<br />EQ127D (06'2002)
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