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<br />3.02 9/arramies, Representations and Covenants of Trustor. Trustor hereby warrrats, represents and
<br />covenants as fellows:
<br />fa) Except for the securty interest granted hereby, Trustor is, and as to portions of the Personal Property to
<br />baacquired after the date hereoLwill be, the sole awrer of the Persona! Property, free from an; adverse lien,
<br />security interest, encumbrance or adverse claims thereon of any kin6 whatsoever. Trustor will notify Benefciary
<br />of, and will defend the Persenal Property against, ail claims and demands of a{I persons at any time claiming the
<br />same or any interest [herein.
<br />(b) Trustor will not lease, sell, convey or ir, any manner transfer the Personal Property without the prior
<br />,~ written consent of Beneficiary.
<br />(c) The Personal Property is no[ used or bought far personal, Gamily or household purposes.
<br />• (d) The Personal Property will be kept an or at the Property and Trustor will no[ remove the Personal
<br />~ Property from the Property without the prior written consent of Beneficiary, except such ponions or items of Per-
<br />sonal Property which are consumtd or worn out in ordinary usage, alt of which shall be promptly replaced by
<br />Trustor.
<br />(c) Trustor maintains a plate of business in the Stott cf t~>?rlska_._ and Trustor will immediatel}' notify
<br />' Beneficiary in writing of any change in its place of business as set forth in the beginning of this Decd of Trust.
<br />(f) Ai the request of Beneficiary, Trustor will }oin Beneficiary in executing one or more financine statements
<br />and renewals and ^mendmenti ;herc•oE pursuant rte the Uniform C+,mmercial Code of N2bY'2S~t torn! satis-
<br />factory to Beneficiary, and will pa.: the cost of tiling the same in all public efficcs :vherever filing is deemed ro Bene-
<br />ficiary to be necessary or desirable.
<br />{g) .4t1 covenants and obligations of Trustor contained herein relating to the Trust Estate shall be deemed
<br />[o apply to [he Ptrsonai Property whether or no: expressly referred to herein.
<br />(h) This Deed of Trust constitutes a Security Agreemtnt as that term is used in the Uniform Commercial
<br />Code of NebraSk3
<br />AKT'IC1.L: i\'
<br />RE1tElllES UPO,i' !1F F.4L~1 "F
<br />4.01 Events of Default. Any of the following !vents shalt be dtemed ::.. .,en, ,>f default hereunder
<br />(a) Default shall be made in the payment of any installment of prir:zipa( ur interest or any other sum
<br />secured hereby when due; or
<br />(b) Trust•~r shalt f.,~ ~ .r>lurtsry pe[ite~,n ir, bankr•pry ;_ r shaft he adiadicated a hankrupe or insolvent, ae
<br />shall fife any petition or answer seeking or acquresctng in any rttxganizauon, arrangement, composition, read-
<br />jus[ment, liquidation. dissolution ur suntlar relic! !~?r itself under any present ur future ftderai, start or other
<br />statute, !aw ar regulation relating to bankruptcy, insolvency or other relief t +r debtors; nr shat! seek or consent to
<br />or aCquiescz ir, the appoir,tmrrt of any_ trusizz, rz; tivtr ..t itquidatur of Trustor ur .,fail or any part or.tite Trust
<br />rrntc
<br />Fatale, 4r of any nr ;ill of the ri:yaltiec, revenues.. _..__, tsSUec nr netFfllS t.helCaf, ter :;hall makC any gene rat Saaign=
<br />into! for the benefit of creditors, or shalt admat tit writing its tnabtlih~ [o pay its debts gentratly as they became
<br />due; or
<br />(c) A court of u,mpetent )unsJtcu<,r, sha!I enter an ordtr. judgment nr Jecree approv+ng a pr~n:on filed
<br />against Trustor seeking any reorganitauan, dtssolutitm or sim+lar relief under any present or future federal, state
<br />or o[htr statute, taw ar regutatron relating to bankruptcy, insolvency or other relief for debtors, and such order,
<br />judgment ar decree shall remai:: un vacattJ unrl uiistayed fix an aggregate o(sixty (€,0) days tvchether ur not con-
<br />secutive) from the first date of entry thereof, er any trustee, receiver or liquidator or frusror ,u of aU nr any pan
<br />of [he Trust Estate; ar ;,t an}' or nit +rf the royalties, revenues, rents, tssuts ur Audits thereof, shall be appointed
<br />without the consent ur acgwrsenec of -i rustor an[t such appointmeru shall remain unwacated anJ unstaycd fur en
<br />aggregate of sixty (60) days (whether or not tonsecwivr}, ;+t
<br />(d) A writ of execution or attachment or any similar process shall br +ssurJ or levied against all ur any part
<br />of or interest in tht Trust Estate, ur any lodgment involving monetary Jamagcs shall be entrrrJ agaut,t Trustor
<br />which shall txcome a tiro tiro the Trust Estate or any portion thereof ar interest thereto and such rxecuUar,, at-
<br />tachment or similar process ar lodgment is not released, honcied, satwlie[!, vacated or stayed wUhin sixty (b0)
<br />days aPer its entry ur levy; or
<br />(z) Trttstur sha21, without the consent of 13rP~sfiz ilrP.:r,~atc r-. _~~~s~~tu t__ the ~stu~li.L mcnt tat ti district
<br />which has taxing, powers, or ~ -
<br />(f) There has occurred a 6rcach of or aieiuuft under env !zero. ;rnvzn;int, agreement. c„ndnion, pnrvnion,
<br />rzprzsCntauon or wru'rann crntaineci to ..ny of nc~ L„na tn,U'urnzntti ,~r auy p., it there,). tea +elrrred rt. m this
<br />Section $.Ut.
<br />4.02 Acceleration !!pole Defaui4. Additional, Remedms, In the event of an} event of default Beneficiary
<br />may declare alt indebtedness secured hereby to be Joe and payable and iht same shall thereupon become due and
<br />payablo without anrpresentment.dtmand. protest ur notice of any kind 'Fhtrrafter Bcnetictury may
<br />(i) Either m parson ur by »gcttt, with or without bringing ,tiny amen ,~: pra..eeduty, .,r by a rec:zwu :ep•
<br />pointed by a noun anJ withoua regard to the adequacy of its securely, enter open and take p„_srssi,+r, at the frost
<br />Estate, or any part thereof', in its own name nr to the name al Trustee, and d;, any acts which it Jeems necessary
<br />ar desirable to preserve the value, markctabttity or rrntahttiry ,rf the trust Estate. ,.=r pan thrrr~,f ~±r in[crtst
<br />therein, increase the income therrfram or protect the securay hereof and, with or wnir,ut takutg pe,saesston of the
<br />Trust Estxtr, sot for of ::tht rw lac c ,Sleet tht rents..slue: anJ pr:, f!r+. iherr•.rf.:ntt,a;f,ng tit*.,,se ; ast sue nd utt-
<br />paid, and apply the xame, ttas ecsiv~and a:xpenac•ti o? ,rpo-iati;m ants r.,tlrct,on ,n.aud,nit .Utun,cl<~ ice>. upou day
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