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<br />200512637
<br />the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any
<br />present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by
<br />or against Grantor, Borrower, or any co~signer, endorser, surety or guarantor of this Security Instrument or
<br />any other obligations Borrower has with lender.
<br />C. Death or Incompetency. Grantor dies or is declared legally incompetent.
<br />D. Business Termination. Grantor merges, dissolves, reorganizes, ends its business or existence, or a partner
<br />or majority owner dies or is declared legally incompetent.
<br />E. Failure to Perform. Grantor fails to perform any condition or to keep any promise or covenant of this
<br />Security Instrument.
<br />F. Other Documents. A default occurs under the terms of any other transaction document.
<br />G. Other Agreements. Grantor is in default on any other debt or agreement Grantor has with lender.
<br />H. Misrepresentation. Grantor makes any verbal or written statement or provides any financial information
<br />that is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
<br />I. Judgment. Grantor fails to satisfy or appeal any judgment against Grantor.
<br />J. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal
<br />authority.
<br />K. Name Change. Grantor changes Grantor's name or assumes an additional name without notifying lender
<br />before making such a change.
<br />L. Property Transfer. Grantor transfers all or a substantial part of Grantor's money or property. This
<br />condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the
<br />DUE ON SALE section.
<br />M. Property Value. The value of the Property declines or is impaired.
<br />N. Material Change. Without first notifying lender, there is a material change in Grantor's business,
<br />including ownership, management, and financial conditions.
<br />O. Insecurity. lender reasonably believes that Lender is insecure.
<br />14. REMEDIES. lender may use any and all remedies lender has under state or federal law or in any instrument
<br />evidencing or pertaining to the Secured Debts, including, without limitation, the power to sell the Property. Any
<br />amounts advanced on Grantor's behalf will be immediately due and may be added to the balance owing under
<br />the Secured Debts. lender may make a claim for any and all insurance benefits or refunds that may be
<br />available on Grantor's default.
<br />Subject to any right to cure, required time schedules or any other notice rights Grantor may have under federal
<br />and state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts
<br />immediately due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a
<br />default or anytime thereafter.
<br />If there is a default, Trustee will, in addition to any other permitted remedy, at the request of the lender,
<br />advertise and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash.
<br />Trustee will give notice of sale including the time, terms and place of sale and a description of the Property to
<br />be sold as required by the applicable law in effect at the time of the proposed sale.
<br />To the extent not prohibited by law, Trustee will apply the proceeds of the Property's sale in the following
<br />order: to all fees, charges, costs and expenses of exercising the power of sale and the sale; to lender for all
<br />advances made for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon;
<br />to the Secured Debts' principal and interest; and paying any surplus as required by law. Lender or its designee
<br />may purchase the Property.
<br />Upon any sale of the Property, Trustee will make and deliver a special or limited warranty deed that conveys the
<br />property sold to the purchaser or purchasers. Under this special or limited warranty deed, Trustee will covenant
<br />that Trustee has not caused or allowed a lien or an encumbrance to burden the Property and that Trustee will
<br />specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful
<br />claims and demand of all persons claiming by, through or under Trustee. The recitals in any deed of
<br />conveyance will be prima facie evidence of the facts set forth therein.
<br />All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at law
<br />or equity, whether or not expressly set forth. The acceptance by lender of any sum in payment or partial
<br />payment on the Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are
<br />filed will not constitute a waiver of lender's right to require full and complete cure of any existing default. By
<br />not exercising any remedy, lender does not waive lender's right to later consider the event a default if it
<br />continues or happens again.
<br />15. COllECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law,
<br />Grantor agrees to pay all expenses of collection, enforcement or protection of lender's rights and remedies
<br />under this Security Instrument. Grantor agrees to pay expenses for lender to inspect and preserve the Property
<br />and for any recordation costs of releasing the Property from this Security Instrument. Expenses include, but are
<br />not limited to, attorneys' fees, court costs and other legal expenses. These eXQ13nses are due and -payable
<br />immediately. If not paid immediately, these expenses will bear interest from the date of payment until paid in
<br />full at the highest interest rate in effect as provided for in the terms of the Secured Debts. To the extent
<br />permitted by the United States Bankruptcy Code, Grantor agrees to pay the reasonable attorneys' fees lender
<br />incurs to collect the Secured Debts as awarded by any court exercising jurisdiction under the Bankruptcy Code.
<br />16. ENVIRONMENTAL lAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental
<br />law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act
<br />(CERClA, 42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders,
<br />attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a
<br />hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste,
<br />pollutant or contaminant which has characteristics which render the substance dangerous or potentially
<br />dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any
<br />substances defined as "hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or
<br />"regulated substance" under any Environmental Law.
<br />Grantor represents, warrants and agrees that:
<br />
<br />PHYLLIS J CODNER REVOCABLE TRUST
<br />Nebraska Deed Of Trust
<br />NE/4XX28325000815100004558027122105Y
<br />
<br />@1996 Bankers Systems, Inc., St. Cloud. MN ~"
<br />
<br />Initials
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