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<br />200702025
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<br />24. Governing Law; Severability. This Deed of Trust shall be governed by the laws of the State of Nebraska. In the event any
<br />provision or clause of this Deed of Trust conflicts with applicable Law, such conflict shall not affect other provisions of this Dead
<br />of Trust which can be given effect without the conflicting provisions and to this end the provisions of this Deed of Trust are
<br />declared to be severable.
<br />25. Events of Default. Each of the following occurrences shall constitute an event of default hereunder, (hereinafter called an
<br />"Event of Default"):
<br />(a) Trustor shall fail to pay when due any principal, interest, or principal and interest on the Indebtedness,
<br />(b) Any warranty of title made by Trustor herein shall be untrue,
<br />(c) Trustor shall fail to observe or perform any of the covenants, agreements, or conditions in this Deed of Trust,
<br />(d) Any representation or warranty made by Trustor on any financial statements or reports submitted to Beneficiary by or on
<br />behalf of Trustor shall prove false or materially misleading,
<br />(e) Trustor shall fail to perform or observe any of the covenants, conditions or agreements contained in, or binding upon
<br />Trustor under any building loan agreement, security agreement, loan agreement, financing statement, or any other
<br />agreement, instrument or document executed by Trustor in connection with the loan evidenced by the Note,
<br />(f) A trustee, receiver or liquidator of the Trust Property or of Trustor shall be appointed, or any of the creditors of Trustor
<br />shall file a petition in bankruptcy against Trustor, or for the reorganization of Trustor pursuant to the Federal Bankruptcy
<br />Code, or any similar law, whether federal or state, and if such order or petition shall not be discharged or dismissed
<br />within thirty (30) days after the date on which such order or petition was filed,
<br />(g) Trustor shall file a petition pursuant to the Federal Bankruptcy Code or any similar law, federal or state, or if Trustor shall
<br />be adjudged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit of creditors, or shall admit
<br />in writing its inability to pay its debts as they become due, or shall consent to the appointment of a receiver of all or any
<br />part of the Trust Property,
<br />(h) Final judgment for the payment of money shall be rendered against Trustor and Trustor shall not discharge the same, or
<br />cause it to be discharged, within thirty (30) days after the entry thereof, or shall not appeal there from or from the order,
<br />decree or process upon which or pursuant to which said judgment was granted, based, or entered, and secure a stay of
<br />execution pending such appeal,
<br />(i) Trustor shall sell or convey the Trust Property, or any part thereof, or any interest therein, or shall be divested of its title,
<br />or any interest therein, in any manner or way, whether voluntarily or involuntarily, without the written consent of
<br />Beneficiary being first had and obtained, or
<br />If Trustor is a corporation or partnership and more than fifty percent (50%) of the shares or beneficial interests in such corporation or
<br />partnership, as the case may be, shall be transferred or conveyed, whether voluntarily or involuntarily, without the written consent of
<br />Beneficiary being first had and obtained.
<br />26. Acceleration of Debt; Foreclosure. Upon the occurrence of any Event of Default, or any time thereafter, Beneficiary may, at its option,
<br />declare all the Indebtedness secured hereby immediately due and payable and the same shall bear interest at the default rate, if any,
<br />set forth in the Note, or otherwise at the highest rate permitted by law, and, irrespective of whether Beneficiary exercises said
<br />option, it may, at its option and in its sole discretion, without any further notice or demand to or upon Trustor, do one or more of
<br />the following:
<br />(a) Beneficiary may enter upon, take possession of, manage and operate the Trust Property or any part thereof; make repairs
<br />and alterations and do any acts which Beneficiary deems proper to protect the security thereof, and either with or without
<br />taking possession, in its own name, sue for or otherwise collect and receive rents, issues and profits, including those
<br />past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable
<br />attorney fees and Beneficiary's costs, upon the Indebtedness secured hereby and in such order as Beneficiary may
<br />determine. Upon request of Beneficiary, Trustor shall assemble and shall make available to Beneficiary any of the Trust
<br />Property which has been removed. The entering upon and taking possession of the Trust Property, the collection of any
<br />rents, issues and profits, and the application thereof as aforesaid, shall not cure or waive any default theretofore or
<br />thereafter occurring, or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant to any
<br />such notice. Notwithstanding Beneficiary's continuance in possession or receipt and application of rents, issues or profits,
<br />Beneficiary shall be entitled to exercise every right provided for in this Deed of Trust or by law upon or after the occurrence
<br />of an Event of Default, including the right to exercise the power of sale. Any of the actions referred to in this paragraph
<br />may be taken by Beneficiary at such time as Beneficiary may determine without regard to the adequacy of any security for
<br />the Indebtedness secured hereby.
<br />(b) Beneficiary shall, without regard to the adequacy of any security for the Indebtedness secured hereby, be entitled to the
<br />appointment of a receiver by any court having jurisdiction, without notice, to take possession of, protect, and manage the
<br />Trust Property and operate the same and collect the rents, issues and profits therefrom.
<br />(c) Beneficiary may bring any action in any court of competent jurisdiction to foreclose this Deed of Trust or enforce any of the
<br />covenants hereof.
<br />(d) Beneficiary may elect to cause the Trust Property or any part thereof to be sold under the power of sale, and in such
<br />event, Beneficiary or Trustee shall give such notice of default and notice of sale as may be then required by law.
<br />Thereafter, upon the expiration of such time and the giving of such notice of sale as may then be required by law, Trustee,
<br />at the time and place specified by the notice of sale, shall sell such Trust Property, or any part thereof specified by
<br />Beneficiary, at public auction to the highest bidder for cash in lawful money of the United States of America. Upon receipt
<br />of payment of the price bid, Trustee shall apply the proceeds in the following order: (i) to the cost and expenses of
<br />exercising the power of sale and of the sale, including but not limited to, trustee's fees or not more than $500.00 plus one~
<br />half of one percent of the gross sale price, and reasonable attorney fees, (ii) to the Indebtedness, and (iii) the excess, if
<br />any, to the person or persons legally entitled thereto.
<br />All costs and expenses incurred by BenefiCiary in enforcing any right under this Deed of Trust, including without limitation, abstract
<br />or title fees, appraisal fees, premiums for title insurance, attorney fees and court costs, shall be and constitute Indebtedness
<br />secured hereby.
<br />27. Duties of Trustee. Trustor agrees that:
<br />(a) Duties and obligations of Trustee shall be determined solely by the express provisions of this Deed of Trust and
<br />Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth herein,
<br />and no implied covenants or obligations shall be imposed upon Trustee,
<br />(b) No provision of this Deed of Trust shall require Trustee to expend or risk its own funds, or otherwise incur any financial
<br />obligation in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers,
<br />(c) Trustee may consult with counsel of its own choosing and the advise of such counsel shall be full and complete
<br />authorization and protection in the respect of any action taken or suffered by it hereunder in good faith and reliance
<br />thereon, and
<br />(d) Trustee shall not be liable for any action taken by it in good faith and reasonably believed by it to be authorized or
<br />within its discretion or rights or powers conferred upon it by this Deed of Trust.
<br />28. Security Agreement and Fixture Filing. This Deed of Trust shall constitute a security agreement and fixture filing under the
<br />provisions of the Nebraska Uniform Commercial Code with respect to those fixtures described in the preambles hereof as
<br />constituting a part of the Trust Property, together with all other property of Trustor, either similar or dissimilar to the same,
<br />now or hereafter located at or on the Trust Property.
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