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DEED OF TRUST ,2 O O 9 O CJ 9 s S Page 2
<br />Loan No: 14976 (Continued)
<br />Lender being named as additional insureds in such liability insurance policies. Additionally, Trustor shall maintain such other
<br />:insurance, ihcluding but .not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies
<br />shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies or certificates
<br />of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled nr diminished without at least
<br />ten 1101 days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor
<br />of Lender will not be impaired in any way by any act, omission or default of Trustor or any other person. 5hauld the Real Property 6e
<br />located in an area designated by the Director of the Federal Emergency Management Agency as a spacial flood hazard area, Trustor
<br />agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of the loan and any prior liens
<br />on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise
<br />required by Lender, and to maintain such insurance for the term of the loan.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />Trustor fails to comply with any provision pf this Deed of Trust or any Related Documents, including but not limited to Trustor's failure to
<br />discharge or pay when due any amounts Trustor is required tc discharge or pay under this Deed of Trust or any Related Documents, Lender
<br />on Trustor's behalf may (but shall not be obligated_ to) take eny action that Lender deems appropriate on the Prpperty and paying all costs
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<br />for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes wilf then bear
<br />interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such
<br />expenses will become a part of the Indebtedness and, at Lender's option, will IA- be payable on demand; IB) be added to the balance of
<br />the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any
<br />applicable insurance policy; or (2) the remaining term of the Nate; or IC- be treated as a balloon payment which will be due and payable
<br />at the Note's maturity.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final
<br />title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and Ib- Trustor has the full right,
<br />power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of title. Subject to the exception in the paragraph above,. Trustor warrarts and will forever defend the title to the Property
<br />,against the lawful claims of all persons. .
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Other Default. Trustor fails to comply with any other term, obligation, covenant or condition contained in this Deed of Trust or in any
<br />of the Related Documents.
<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 />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes nr
<br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Death or Insolvency.. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any part of Trustor's property,
<br />any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any
<br />bankruptcy or insolvency laws by or against Trustor.
<br />Evarrts Affecting-~uaramor Any crFtlre precedingBVents Occurs with respect to-arty 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.
<br />Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br />performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Right to Cure. If any default, other than a default in payment is curable and if Trustor has not been given a notice of a breach of the
<br />same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if Trustor, after Lender sends written
<br />notice to Truster demanding cure of such default: 11) cures the default within fifteen (16) days; or (2) if the cure requires more than
<br />fifteen (15) days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and
<br />thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably
<br />practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upori the occurrence of any Event of Default uhder any indebtedness; or sho[~Id Trustor fail to
<br />comply with any of Trustor's obligations under this Deed of Trust, Trustee or Lender may exercise any orie or more' of the following rights
<br />and remedies:
<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:
<br />Ia1 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 deems necessary or desirable to preserve the value,
<br />marketability or rentability of the Property, or part of the Property nr 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 duo and unpaid, and apply the same, less costs and
<br />expenses of operation and oollection attorneys' fees, to any indebtedness secured by this Deed of Trust, all in such order as
<br />Lender may determine. The entering upon and taking possession of the Property, the collection of such rants, issues and
<br />- -- ~ -~~"-- ~'S;"~'fiii~fYie'~pplica~3ri-thereo~sTiaR not cure or waive any default or notice 'df 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 exercise the power of sale;
<br />Ib) 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
<br />Ic- Deliver to Trustee a written declaration of default and demand fpr 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
<br />Idl 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.
<br />Foreclosure by Pewer 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.
<br />la- Upon receipt of such notice from Lender, Trustee shall cause to 6e 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 the Prpperty at the time and place of sale fixed by it in such Notice of Sale,
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