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<br /> 201002933
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<br /> and shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings. Trustor shall
<br /> also be entitled to make any compromise or settlement in connection with such taking or damage.
<br /> 6. Appointment of Successor Trustee. Beneficiary may, from time to time, by a written instrument executed
<br /> and acknowledged by Beneficiary, mailed to Trustor and recorded in the County in which the Trust Estate is located and by
<br /> otherwise complying with the provisions of the applicable law of the State of Nebraska substitute a successor or successors to the
<br /> Trustee named herein or acting hereunder.
<br /> 7. Successors and Assigns. This Second Deed of Trust applies to, inures to the benefit of and binds all parties
<br /> hereto, their heirs, legatees, devisees, personal representatives, successors and assigns. The term "Beneficiary" shall mean the
<br /> owner and holder of any promissory note given to beneficiary.
<br /> 8. Merger, Consolidation, Sales or Leases. Trustor covenants that Trustor will not sell, lease or otherwise
<br /> dispose of any of the Trust Estate. In the event that Trustor sells, leases or otherwise disposes of any part of the Trust Estate,
<br /> Beneficiary may at its option declare the Indebtedness secured hereby immediately due and payable without any presentment,
<br /> demand, protest or notice of any kind, whether or not any default exists. Beneficiary shall consent to a transfer of the Trust
<br /> Estate to a third party to the extent such third party meets the requirements contained in, and assumes the obligations set forth in
<br /> the First Deed of Trust. The covenants contained herein shall run with the Property and shall remain in full force and effect until
<br /> the Indebtedness is paid in full.
<br /> 9. Events of Default. Any of the following events shall be deemed an event of default hereunder:
<br /> (a) default shall be made in the payment of the Indebtedness or any other sum secured hereby when
<br /> due; or
<br /> (b) Trustor shall perform any act in bankruptcy; or
<br /> (c) a court of competent jurisdiction shall enter an order, judgment or decree approving a petition filed
<br /> against Trustor seeking any reorganization, dissolution or similar relief under any present or future federal, state or
<br /> other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, and such order, judgment
<br /> or decree shall remain unvacated and unstayed for an aggregate of sixty (60) days (whether or not consecutive) from
<br /> the first date of entry thereof; or any trustee, receiver or liquidator or Trustor or of all or any part of the Trust Estate, or
<br /> of any or all of the royalties, revenues, rents, issues or profits thereof, shall be appointed without the consent or
<br /> acquiescence of Trustor and such appointment shall remain unvacated and unstayed for an aggregate of sixty (60) days
<br /> (whether or not consecutive); or
<br /> (d) a writ of execution or attachment of any similar process shall be entered against Trustor which shall
<br /> become a lien on the Trust Estate or any portion thereof or interest therein and such execution, attachment or similar
<br /> process of judgment is not released, bonded, satisfied, vacated or stayed within sixty (60) days after its entry or levy; or
<br /> (e) there has occurred a breach of or default under any term, covenant, agreement, condition,
<br /> provision, representation or warranty contained in the First Deed of Trust or any prior deed of trust or mortgage
<br /> affecting the Trust Estate.
<br /> 10. Acceleration upon Default; Additional Remedies. If an event of default occurs, Beneficiary may declare the
<br /> Indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable without any
<br /> presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may:
<br /> (a) either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br /> appointed by a court and without regard to the adequacy of its security, enter upon and take possession of the Trust
<br /> Estate, or any part thereof, in its own name or in the name of Trustee, and do any acts which it deems necessary or
<br /> desirable to preserve the value, marketability or rentability of the Trust Estate, or part thereof or interest therein,
<br /> increase the income therefrom or protect the security hereof and, with or without taking possession of the Trust Estate,
<br /> sue for or otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and apply the
<br /> same, less costs and expenses of operation and collection including attorneys' fees, upon any indebtedness secured
<br /> hereby, all in such order as Beneficiary may determine. The entering upon and taking possession of the Trust Estate,
<br /> the collection of such rents, issues and profits and the application thereof as aforesaid shall not cure or waive any
<br /> default or notice of default hereunder or invalidate any act done in response to such default or pursuant to such notice
<br /> of default and, notwithstanding the continuance in possession of the Trust Estate or the collection, receipt and
<br /> application of rents, issues or profits, Trustee or Beneficiary shall been entitled to exercise every right provided for in
<br /> any of the Loan Instruments or by law upon occurrence of any event of default, including the right to exercise the
<br /> power of sale;
<br /> (b) commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or
<br /> specifically enforce any of the covenants hereof,
<br /> Page 3 of 5 NIFA ABC Loan/Form K
<br /> 21995 -CV (12/09) 903885 (12/09)
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