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~` ~ ` ` DEED OF TRUST
<br />(Continued) 2 ~ 1 Q 01$ ~~ gage 4
<br />contained in any other agreement between Lender and Borrower or Trustor.
<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 #his Deed of Trust to make any payment for #axes or
<br />insurance, or any other payment necessary to prevent filing of nr to effect discharge of any lien.
<br />Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement,
<br />purchase nr sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of
<br />Borrower's or any Grantor's property or Borrower's ability to repay the Indebtedness nr Borrower's or Grantor's ability to perform their
<br />respective obligations under this Deed of Trust or any of the Related Documents.
<br />False Statements. Any warranty, representation or statement made nr furnished to Lender by Harrower or Trustor or on Borrower's or
<br />Trustor's behalf under this Deed of Trust ar the Related Documents is false or misleading in any material respect, either now or a# the
<br />time made or furnished or becomes false or misleading at any time thereafter.
<br />Defective Collateralization. This Deed of Trust nr 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 in#erest nr lien) at any time and for any reason.
<br />Death or Insolvency. The dissolution of Trustor's (regardless of whether elec#inn to continue is made, any member withdraws from
<br />the limited liabili#y company, or any other termination of Borrower's or Trustor's existence as a going business or the death of any
<br />member, the insolvency of Borrower or Trustor, the appointment of a receiver for any part of Borrower's or Trustor's property, any
<br />assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy
<br />or insolvency laws by or against 8orrnwer or Trustor.
<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. Wowever, this Event of Default shall not apply if there is a good faith dispute by 8nrrnwer or Trustor as to the validity nr
<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 nr a surety bond for the creditor or forfeiture
<br />proceeding, in an amount determined 6y Lender, in its sole discretion, as being an adequate reserve or band for the dispute.
<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 wi#hnut limitation any agreement
<br />concerning any indeb#edness or other obligation of Harrower or Trustor to Lender, whether existing now or later.
<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 nr any guarantor, endorser, surety, or accommodation par#y dies or becomes incompe#ent, 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 Borrower's or Trustor's financial condition, or Lender believes the prospect of
<br />payment ar performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<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 any one or more of the following rights and remedies:
<br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Nate 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, pro#es# pr notice of any kind. Thereafter, Lender may:
<br />lal Either in person nr 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 pf 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 Proper#y nr interest in the Property; increase the income from the
<br />Property or protect the security of the Property; and, with nr 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 casts and
<br />expenses of operation and collection 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 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 nr pursuant to such notice of default; and, notwithstanding the
<br />continuance in possession of the Property or the collection, receipt and application pf rents, issues or profits, Trustee ar
<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 defaul#, 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 />Icl Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to
<br />cause Trustar'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 Wi#h 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 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 end
<br />secured by this Deed of Trust as Trustee may require.
<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 end by this Deed of Trust. Trustee shall, without demand on
<br />Trustor, after such time es 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 Property at the time and place of sale fixed by it in such Notice of Sale,
<br />either as a whale, or in separate lots ar parcels or items as Trustee shall deem expedient, and in such order as it may
<br />determine, at public auction to the highest bidder for cash in lawful money of 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 sn
<br />sold, but without any covenant or warranty, express nr implied. The recitals in such deed of any matters nr facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including without limits#ion Trustor, Trustee, or Lender, may
<br />purchase at such sale.
<br />Ib1 As may be permitted 6y law, after deducting all costs, fees and expenses of Trustee and of this Trust, including cos#s of
<br />evidence of #i#le in connection with sale, Trustee shall apply the proceeds of sale to payment of li) all sums expended under
<br />the terms of this Deed of Trust or under the terms of the Note not then repaid, including but not limi#ed to accrued interest
<br />and late charges, liil all other sums then secured hereby, and (iii) the remainder, if any, #o the person or persons legally
<br />entitled thereto.
<br />Icl Trustee may in the manner provided by law postpone sale of all or any portion pf the Property.
<br />Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and performance of any
<br />indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powers under this Deed of Trust, under the
<br />Note, under any of the Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding,
<br />same ar all of such indebtedness and obligations secured by this Deed of Trust may now nr hereafter be otherwise secured, whether
<br />by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement,
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