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<br />loan No: 807172
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200700561
<br />
<br />Page 4
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<br />FUll PERFORMANCE. If Borrower and Trustor pay all the Indebtedness when due, and Trustor otherwise performs all the obligations
<br />imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall
<br />execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing Lender's security interest in
<br />the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law,
<br />
<br />EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following happen:
<br />
<br />Payment Default. Borrower fails to make any payment when due under the Indebtedness.
<br />
<br />Break Other Promises. Borrower or Trustor breaks any promise made to lender or fails to perform promptly at the time and strictly in
<br />the manner provided in this Deed of Trust or in any agreement related to this Deed of Trust.
<br />
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust. the Note
<br />or in any of the Related Documents.
<br />
<br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or
<br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />
<br />Default in Favor of Third Parties. Should Borrower or any Trustor default under any loan, extension of credit, security agreement,
<br />purchllse or sllles agreement, or Ilny other agreement. in favor of any other creditor or person that may materilllly affect any of
<br />Trustor's property or Borrower's or Ilny Trustor's Ilbility 10 repny thA Indebtedness or perform their respective obligations under this
<br />Deed of Trust or any of the Related Documents.
<br />
<br />False Statements. Any representation or statement mlldo or furnished to lender by Borrower or Trustor or on Borrower's or Trustor's
<br />behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the time
<br />mnde or furnished.
<br />
<br />Defective Collateralization. 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 />
<br />Death or Insolvency. The death of Borrower or Trustor, the insolvency of Borrower or Trustor, the appointment of a receiver for any
<br />part of Borrower's or Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the
<br />commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Trustor.
<br />
<br />Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of Borrower's or Trustor's
<br />property in which Lender has a lien. This includes taking of, garnishing 01 or levying on Borrower's or Trustor's accounts with lender.
<br />However, if Borrower or Trustor disputes in good fllith whether the clnim on which the taking of the Property is based is valid or
<br />reasonable, and if Borrower or Trustor gives lender written notice of the claim and furnishes Lender with monies or a surety bond
<br />satisfactory to lender to satisfy the claim, then this default provision will not apply.
<br />
<br />Breach of Other Agreement. Any breach by Borrower or Trustor under the terms of any other agreement between Borrower or
<br />Trustor and lender that is not remedied within any grace period provided therein, including without limitation any agreement
<br />concerning any indebtedness or other obligation of Borrower or Trustor to lender, whether existing now or later.
<br />
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation
<br />party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or
<br />revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. In the event of a death, Lender, at its option,
<br />mny, but shall not be required to, permit the gUllmntor's estate to Ilssume unconditionally the obligations arising under the guaranty in
<br />a manner satisfactory to Lender, and, in doing so, cure any Event of Default.
<br />
<br />Insecurity. lender in good faith believes itself insecure.
<br />
<br />Existing Indebtedness. The pllyment of any installment of principal or any interest on the Existing Indebtedness is not made within the
<br />time required by the promissory note evidencing such indpbtodness, or a default occurs under the instrument securing such
<br />indebtedness and is not cured during any applicllblp gmcp period in such instrument, or any suit or other action is commenced to
<br />foreclose any existing lien on thp Property.
<br />
<br />Right to Cure. If any default, other than a default in payment is curllble and if Trustor has not been given Il notice of Il hreach of the
<br />same provision of this Deed of Trust within the preceding twelve (12) months, it may he curpd if Trustor, after receiving written notice
<br />from l.ender demanding cure of such defllult: (1) cures the default within twenty (20) days; or (2) if the cure requires more thlln
<br />twenty (20) dllYs, immedifllely initiates steps which Lender deerns in l.endpr's solp discretion to be sufficient to cure the default and
<br />thpreafter continues and completes all reasonable and necessary steps sufficient to produce compliance IlS soon as reasonably
<br />pmctical.
<br />
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereaftpr, Trustee or Lender
<br />may exercise anyone or mom of the following rights and remedies:
<br />
<br />Acceleration Upon Default; Additional Remedies. If any Event of Delault occurs as per the terms of the Note secured hereby,
<br />Lender may declare all Indpbtedness secured by this Deed of Trust to be due Ilnd payable and the same shall thereupon become
<br />due and payable without any presentment, demand, protest or notice of any kind. Therealter, lender may:
<br />
<br />(a) Either in person or by agent, with or without bringing any nction or proceeding, or hy 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 Trustep, and do any acts which it deems neCPSSflrY 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 tllking 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 Ilnd
<br />expenses of operation and collection attorneys' fees, to any indebtedness secured by this Deed of Trust, all in such order as
<br />l.ender may determine. The entering upon and tnking 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 />invalidflle Ilny 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 />Lender shall be entitlpd to exercise every right providpd for in the Note or the Related Documents or by law upon the
<br />occurrence of any event of default. including tho right to exercise the powpr of sale;
<br />
<br />(b) COlTlmence Iln Ilction to foreclose this Deed of Trust IlS a mortgage, appoint Il receiver or specifically enforce any of the
<br />covenants hereof; and
<br />
<br />(c) Deliver to Trustee a written declamtion of default and demand for sale and a written notice of default and election to
<br />cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the
<br />appropriate offices of the County in which the Property is located; Ilnd
<br />
<br />(d) With respect to nil or any part of the Personnl Property, lender shall hllve all the rights and remedies of a secured party
<br />under the Nebraska Uniform Commercial Code.
<br />
<br />Foreclosure by Power of Sale. If lender elects to foreclose by exercise of the Power of Sale herein contained, L.ender shall notify
<br />Trustee and shall deposit with Trustee this Deed of Trust Ilnd the Note and such receipts and evidence of expenditures made and
<br />secured by this Deed of Trust as Trustee mny require.
<br />
<br />(a) Upon receipt of such notice from lender, Trustee shall cause to be recorded, published and delivered to Trustor such
<br />Notice of Default and Notice of Sale as then requirfHI by law and by this Deed of Trust. TrUSlee shall, without demand on
<br />Trustor, after such time as may then be required hy law and after recordation of such Notice of Default and after Notice of
<br />Sllle having been given as required by law, sell the Property at the time and place of sllle fixed by it in such Notice of Sale,
<br />either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may
<br />determine, at public Iluction to the highest bidder for cash in Illwful money 01 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
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