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Loan No: 131 ~+43n ~ ~ ~ D~(COIIO n ed)ST 2 O 1 O O 2 8 ~ ~ Page 4
<br />Attorney-in-f=act. 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 Trwstor'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`. `"
<br />FULL PERFORMANCE. If Trustor pays all the Indebtedness, including without limitation all future advances, when duo, and otherwise
<br />performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for fuil
<br />reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing
<br />Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if
<br />permitted by applicable law.
<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 Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant nr condition contained in this Deed of
<br />Trust or in any of the Reiated 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 />Comglianc,e Default. Failure to comply with any other term,•.obligation. covEmant or condition contained in this Deed of Tru~;t, the Note
<br />or in any of the Related Documents. -
<br />Default an 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.
<br />False Statements. Any warranty, representation nr 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 pr furnished or
<br />becomes false or misleading at any time thereafter.
<br />Defective Collateralization. This Deed of Trust or 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 interest or lien) at any time and for any reason.
<br />Death or ,Insolvency. The dissolution or termination of Trustor's existence as a going business or the death of any partner, the
<br />insolvency of Trustor, the appointment of a receiver for any part of Trustor's property, any assignment for the benefit of creditors, any
<br />type of creditor workout, or the commencement of any proceeding under any 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 gatnishment of any of Trustor's accounts, including deposit accounts, .with Lender.. However, this
<br />Event of Default shall nor apply if there is a good 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 Trustor gives Lender written notice of the creditor or forfeiture proceeding and
<br />deposits with Lender monies nr 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 nr bond for 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 ar other
<br />obligation of Trustor to Lander, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
<br />Guarantor dies or becomes incompetent, or 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 />perfnrrnance of the Indebtedhess 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 Trustor demanding. cure of such default: j1- cures the default within fifteen (15) days; or 121 if the cure requires more than
<br />fifteen (151 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 reasonably end necessary steps sufficient to produce compliance as soon as reasonably
<br />practical,
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Dead 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 went 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 />Ia) Either in parson 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 pr 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 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 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 Nota or the Related Documents or by law upon the
<br />ocaurrenro of ~:n•r event of default, includi. ~g ±he rigf:t to exercise-thr•pou+.er of sale;
<br />Ib) Commence an action to foreclose this Dead 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 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 />(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.
<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.
<br />lal 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"vvith'out demand on
<br />Trustor, after such time as may then be required .by law and after recordation of such Noticg of Default and after Notice of
<br />• Sala having been given as required by law, still the Property i3t the time and place of sale fixed by it in such Notice of Sale,
<br />either as a whole, or in separate lots ar parcels or items as Trustee shall deem expedient, and in such grder 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 so
<br />sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters ar facts shall be
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