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<br />is located and by otherwise complying with the provisions of the applicable law of the State of Nebraska substitute a
<br />successor or successors to the Trustee named herein or acting hereunder.
<br />7. Successors and Assigns. This Second Deed of Trust applies to, inures to the benefit of and binds all
<br />parties hereto, their heirs, legatees, devisees, personal representatives, successors and assigns. The term
<br />"Beneficiary" shall mean the owner and holder of any promissory note given to beneficiary, [whether or not named
<br />as Beneficiary herein].
<br />8. Merger, Consolidation, Sales or Leases. Trustor covenants that Trustor will not sell, lease or
<br />otherwise dispose of any of the Trust Estate. In the event that Trustor sells, leases or otherwise disposes of any part
<br />of the Trust Estate, Beneficiary may at its option declare the Indebtedness secured hereby immediately due and
<br />payable, whether or not any default exists. Beneficiary shall consent to a transfer of the Trust Estate to a third party
<br />to the extent such third party meets the requirements contained in, and assumes the obligations set forth in the First
<br />Deed of Trust. The covenants contained herein shall run with the Property and shall remain in full force and effect
<br />until the Indebtedness is paid in full.
<br />9. Events of Default. Any of the following events shall be deemed an event of default hereunder:
<br />(a) default shall be made in the payment of the Indebtedness or any other sum secured hereby
<br />when due; or
<br />(b) Trustor shall perform any act in bankruptcy; or
<br />(c) a court of competent jurisdiction shall enter an order, judgment or decree approving a petition
<br />filed against Trustor seeking any reorganization, dissolution or similar relief under any present or future
<br />federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other relief for
<br />debtors, and such order, judgment or decree shall remain unvacated and unstayed for an aggregate of sixty
<br />(60) days (whether or not consecutive) from the first date of entry thereof; or any trustee, receiver or
<br />liquidator or Trustor or of all or any part of the Trust Estate, or of any or all of the royalties, revenues,
<br />rents, issues or profits thereof, shall be appointed without the consent or acquiescence of Trustor and such
<br />appointment shall remain unvacated and unstayed for an aggregate of sixty (60) days (whether or not
<br />consecutive); or
<br />(d) a writ of execution or attachment of any similar process shall be entered against Trustor which
<br />shall become a lien on the Trust Estate or any portion thereof or interest therein and such execution,
<br />attachment or similar process of judgment is not released, bonded, satisfied, vacated or stayed within sixty
<br />(60) days after its entry or levy; or
<br />(e) there has occurred a breach of or default under any term, covenant, agreement, condition,
<br />provision, representation or warranty contained in any prior deed of trust or mortgage affecting the Trust
<br />Estate.
<br />10. Acceleration upon Default; Additional Remedies. If an event of default occurs, Beneficiary may
<br />declare the Indebtedness secured hereby to be due and payable and the same shall thereupon become due and
<br />payable without any presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may:
<br />(i) either in person or by agent, with or without bringing any action or proceeding, or by a
<br />receiver appointed by a court and without regard to the adequacy of its security, enter upon and take
<br />possession of the Trust Estate, or any part thereof, in its own name or in the name of Trustee, and do any
<br />acts which it deems necessary or desirable to preserve the value, marketability or rentability of the Trust
<br />Estate, or part thereof or interest therein, increase the income therefrom or protect the security hereof and,
<br />with or without taking possession of the Trust Estate, sue for or otherwise collect the rents, issues and
<br />profits thereof, including those past due and unpaid, and apply the same, less costs and expenses of
<br />operation and collection including attorneys' fees, upon any Indebtedness secured hereby, all in such order
<br />as Beneficiary may determine. The entering upon and taking possession of the Trust Estate, the collection
<br />of such rents, issues and profits and the application thereof as aforesaid shall not cure or waive any default
<br />or notice of default hereunder or invalidate any act done in response to such default or pursuant to such
<br />notice of default and, notwithstanding the continuance in possession of the Trust Estate or the collection,
<br />3718.CV (2/04) 900036 Pagc 3 of NIFA 7/99
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