|
'` '~ DEED OF TRUST 2 Q 1 ~ Q 2 3 Q 5
<br />Loan No: 101229313 (Continued) Page 5
<br />Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any
<br />other agreement between Lender and Trustor.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Dead of Trust, the Note
<br />or in any pf the Related Documents.
<br />Default an ether Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment far taxes or
<br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on Trustor's .behalf under this
<br />Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or
<br />becomes false pr misleading at any time thereafter.
<br />Defective Collateralizatian. This Deed of Trust or any of the Related Documents ceases to be in full force and effect lincluding failure
<br />of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
<br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver far 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 />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 Trustor or by any governmental agency against any property securing the
<br />Indebtedness. This includes a garnishment of any of Trustor's accounts, including deposit accounts, with Lender. However, this
<br />Event of Default shall not apply if there is a gopd faith dispute by Trustor as to the validity or reasonableness of the claim which is the
<br />basis of the creditor or forfeiture proceeding and if Truster gives Lender written notice of the creditor or forfeiture proceeding and
<br />deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole
<br />discretion, as being an adequate reserve or bond far the dispute.
<br />Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is opt
<br />remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other
<br />obligation of 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 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, ar 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 pf the
<br />same provision of this Deed of Trust within the preceding twelve 1121 months, it may be cured it Trustor, after Lender sends written
<br />notice to Trustor demanding cure of such default: 111 cures the default within fifteen (15) days; or 12) if the cure requires more than
<br />fifteen (15) days, immediately initiates steps which Lender deems in Lender's sole discretion tp be sufficient to cure the default and
<br />thereafter continues and cpmpletes all reasonable and necessary steps sufficient to produce cpmpliance as soon as reasonably
<br />practical.
<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 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 becpme
<br />due and payable without any presentment, demand, protest or notice of any kind: Thereafter, Lender may:
<br />la- Elther 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, pr 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 operatipn 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 Daed of Trust or
<br />invalidate any act done in resppnse 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 />Ib1 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 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 />apprppriate 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 Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained, Lender shall notify
<br />
|