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<br />. I ai<Of~(lOP
<br />Loan No: 112176
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<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200903611
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<br />Page 4
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<br />whether now owned or hereafter acquired by Truat(lr. Unlessprohibited by law or .lender agrees to the contrary in writing, Trustor
<br />s~all reimburse Lender for all costs and expenses 'incurred in connection with themafters referred to in this paragraph.
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<br />"Attorney-In-Fact. If Trustor fails to do any of the things referred to In the preceding paragraph; Lender may do so for and in the name
<br />of Trustor and at Trustor's expense. 'For such'purposes, Trustor hereby 'irrevocably appoints Lender as Trustor's attorney-in-fact for
<br />the purpose of making, executing, delivering, filing, recording, and'doing all other things as may be necessary or desirable, in Lender's
<br />, sole opinion, to accomplish the matters referred to in the preceding paragraph.
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<br />FULL PERFORMANCE. If Borrower and Trustor pay all the Indebtedness, including without limitation all future advances, when due, and
<br />Trustor otherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and daliver to Trustee a,
<br />request for full reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on file
<br />evidencing Lender's security interest in the Rents and the Personel Property. Any reconveyance fee required by law shall be paid by
<br />Trustor, if permitted by applicable law.
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<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
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<br />Payment Default. Borrower fails to make any payment when due under the Indebtedness.
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<br />Other Defaults. Borrower or Trustor fails to comply with or to perform any other term, obligation, covenan , or c n contained in
<br />this Deed of Trust or in any of the Related Documents or to comply with or to perform ariy tarm, oblig iM, nt or condition
<br />contained In any other agreement between Lender ,and Borrower or Trustor. ~~ .
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<br />Compliance Default. Failure to comply with any other term, obligation, covenant or c6ndition contained in his f Trust, the Note
<br />or in any of the Related Documents.
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<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.
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<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Trustor or on Borrower's or
<br />Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the
<br />time made or furnished or becomes false or misleading at any time thereafter.
<br />
<br />Defective Collateullization. This Deed of Trust or eny 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 />Insolvency. The dissolution or termination of Borrower's or Trustor's existe'nce as a going business, the insolvency of Borrower or
<br />Trustor, the appointment of' a receiver for any part of Borrower's or Trustor's pr,operty, any assignment for the benefit of creditors,
<br />any type of creditor workout, or, the commencement of 'any proceeding under any bankruptcy or insolvency laws by or against
<br />Borrower or Trustor.
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<br />Creditor or Forfeiture Proceedings. Commencement ,of foreclosure or forfeiture proceedings, whether by judicial proceeding, self.help,
<br />repossession or any other method, by any creditor of Borrower or Trustor or by any governmental agency against any property
<br />securing the Indebtedness. This includes a garnishment of any of Borrower's or Trustor's accounts, including deposit accounts, with
<br />Lender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Trustor as to the validity or
<br />reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Trustor gives Lender written
<br />notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture
<br />proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.
<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 egreement
<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 ,res,pect to any guarantor, endorser, surety, or accommocj,ation
<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.
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<br />Adverse Change. A material adverse change occurs in Borrower's or Trustor's financial condition, or Lender believes the prospect of
<br />payment or performance of the Indebtedness Is impaired.
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<br />Insecurity. Lender in good faith believes itself insecure.
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<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender
<br />may exercise anyone or more of the following rights and remedias:
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<br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Note secured hereby,
<br />Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become
<br />due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
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<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by 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 thereof, in its
<br />own name or in the name of Trustee, and do any acts which it dee'ms' necessary 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 taking 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 and
<br />expenses of operation and collection permissible fees, to any indebtedness secured by this Deed of Trust, all in such order
<br />as Lender may determine. The entering upon and taking 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 />invalidate any 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 entitled to exercise every right provided for in the Note or the Related Documents or by law upon the
<br />occurrence of any event of default, including the right to axercilile the power of sale;
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<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the
<br />covenants hereof; and
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<br />(c) Deliver to Trustee a written declaration of default and demend 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; and
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<br />(d) With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party
<br />under the Nebraska Uniform Commercial Code.
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<br />Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained, Lender shall notify
<br />Trustee and shall deposit with Trustee this Deed of Trust and the Note, and such receipts and evidence of expenditures made and
<br />secured by this Deed of Trust as Trustee may require.
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<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 required by law and by this Deed of Trust. Trustee shall, without demand on
<br />Trustor, after such time as may then be required by law and after .recordation of such Notice of Default and after Notice of
<br />Sale having been given as required by law, sell ,trye Property at the time, and, place of sale fixed by It In suC;h 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 itmay
<br />determine, at public auction to the hiliJhest bld'der for cash in lawful monl;lY of the United States payable at the time of sale.
<br />Trustee shall deliver to such purc,haser or purchasers thereof its good and sl,Jfficient deed or cjeeds conveying the property so
<br />sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br />purchase at such sale. '
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