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200507070
<br />12. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN TRUSTOR.
<br />If all or any part of the Property or any interest in it is sold or transferred
<br />(or if a beneficial interest in Trustor is sold or transferred and Trustor is not
<br />a natural person) without Beneficiary's prior written consent, Beneficiary may,
<br />at its option, require immediate payment in full of all sums secured by this
<br />Security Instrument, however, this option shall not be exercised by Beneficiary
<br />if exercise is prohibited by federal law as of the date of this Security
<br />Instrument. If Beneficiary exercises this option, Beneficiary shall give Trustor
<br />notice of acceleration. The notice shall provide a period of not less than 30
<br />days from the date the notice is delivered or mailed within which the Trustor
<br />must pay all sums secured by this Security Instrument. If Trustor fails to pay
<br />these sums prior to the expiration of this period, Beneficiary may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand
<br />on Trustor.
<br />13. EVENTS OF DEFAULT. Any of the following events shall be
<br />deemed an event of default hereunder:
<br />a. Trustor shall have failed to make payment of any
<br />installment of interest, principal, or principal and interest or any other sum
<br />secured hereby when due; or
<br />b. There has occurred a breach of or default under any
<br />term, covenant, agreement, condition, provision, representation or warranty
<br />contained in any of the Loan Instruments.
<br />14. ACCELERATION; REMEDIES. Beneficiary shall give notice of
<br />default to Trustor prior to acceleration following Trustor's breach of any
<br />covenant or agreement in this Trust Deed in accordance with the requirements of
<br />the Nebraska Trust Deed Act. If the default is not cured on or before the date
<br />specified in the notice, Beneficiary at its option may require immediate payment
<br />in full of all sums secured by this Security Instrument without further demand
<br />and may invoke the power of sale and exercise all other rights and remedies
<br />permitted by applicable law. Trustor shall be entitled to collect all expenses
<br />incurred in pursuing the remedies provided in this paragraph, including, but not
<br />limited to, reasonable attorney's fees and costs of title evidence. If power of
<br />sale is invoked, Trustee shall give public notice of sale to the persons and in
<br />the manner prescribed by applicable law. Trustee, without demand on Trustor,
<br />shall sell the Property at public auction to the highest bidder at the time and
<br />place and under the terms designated in the notice of sale in one or more parcels
<br />and in any order Trustee determines. Trustee may postpone sale of all or any
<br />parcel of the Property by public announcement at the time and place of any
<br />previously scheduled sale. Beneficiary or its designee may purchase the Property
<br />at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to
<br />the purchaser Trustee's deed conveying the Property. The recitals in the
<br />Trustee's deed shall be prima facie evidence of the truth of the statements made
<br />therein. Trustee shall apply the proceeds of the sale in the following order:
<br />(a) to all expenses of the sale, including, but not limited to, Trustee's fees
<br />as permitted by applicable law and reasonable attorney's fees; (b) to all sums
<br />secured by this Security Instrument; (c) to junior lienholders; and (d) any
<br />excess to the person or persons legally entitled to it.
<br />15. ASSIGNMENT OF RENTS. As additional security, Trustor hereby
<br />assigns to Beneficiary the rents of the Property, provided that Trustor shall,
<br />prior to acceleration hereunder or abandonment of the Property, have the right
<br />to collect and retain such rents as they become due and payable. Upon
<br />acceleration as provided herein or abandonment of the Property, Beneficiary (in
<br />person, by agent or by judicially appointed receiver) shall be entitled to enter
<br />upon, take possession of and manage the Property and to collect the rents of the
<br />Property including those past due. Any rents collected by Beneficiary or the
<br />receiver shall be applied first to payment of the costs of management of the
<br />Property and collection of rents, including, but not limited to, receiver's fees,
<br />premiums on receiver's bands and reasonable attorney's fees, and then to the sums
<br />secured by this Security Instrument.
<br />16. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, and each of
<br />them, shall be entitled to enforce payment and performance of any indebtedness
<br />or obligations secured hereby and to exercise all rights and powers under this
<br />Deed of Trust or under any Loan Instrument or other agreement or any laws now or
<br />hereafter in force, notwithstanding some or all of the such indebtedness and
<br />obligations secured hereby may now or hereafter be otherwise secured, whether by
<br />mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the
<br />acceptance of this Deed of Trust nor its enforcement whether by court action or
<br />pursuant to the power of sale or other powers herein contained, shall prejudice
<br />or in any manner affect Trustee's or Beneficiary's right to realize upon or
<br />enforce any other security now or hereafter held by Trustee or Beneficiary, it
<br />being agreed that Trustee and Beneficiary, and each of them, shall be entitled
<br />to enforce this Deed of Trust and any other security now or hereafter held by
<br />Beneficiary or Trustee in such order and manner as they or either of them may in
<br />their absolute discretion determine. No remedy herein conferred upon or reserved
<br />to Trustee or Beneficiary is intended to be exclusive of any other remedy herein
<br />or by law provided or permitted, but each shall be cumulative and shall be in
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