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<br /> <br /> <br /> <br /> t'~ ? DEED OF TRUST <br /> (Continued). 201005913 Page 4 <br /> <br /> of'Trustor andaftrustor's expense.' For such purposes, Trustor hereby irrevocably appoints Lender' as Trustor's an 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 PFhOoRMANcP. If Borrower and Trustor'pay all the Indebtedness,' including without limitation all future advances, when due, and <br /> Trustor otherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a <br /> request for full reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on file <br /> evidencing Lender's security interest in the Rents and the Personal Property, Any reconveyance fee required by law shall be paid by <br /> Trustor, if 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. Borrower fails to make any payment when due under the Indebtedness. <br /> Other Defaults. Borrower or Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained in <br /> this Deed of Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition <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 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 /> Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, <br /> purchase or 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 or 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 or furnished to Lender by Borrower or Trustor or on Borrower's or <br /> Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the <br /> time made or furnished or becomes false or misleading at any time thereafter. <br /> Defective.Collateralixation. 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 of Trustor's (regardless of whether election to continue is made), any mei'nOer withdraws from <br /> the limited liability 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 Borrower 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. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Trustor as to the validity or <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 or a surety bond for the creditor or forfeiture <br /> proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond 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 without limitation -any 'aagreempnt <br /> concerning any Indebtedness or other obligation of Borrower 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 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 Borrower's or Trustor's financial condition, or Lender believes the prospect of <br /> payment or 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 Note secured hereby, <br /> Lender may ,declare all.lndebtedness secured by; this Deed of Trust to be due and payable and' the same shall thefeubon become <br /> 'due and payable without any presentment, demand, protest or notice of any kind.Thereafter, Lender may: ' <br /> (a) Either 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, 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 costs 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 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 /> (b) 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 /> (c) 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 /> 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 Dead 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 /> (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 and by this Deed of Trust. Trustee shall,' without demand on <br /> Trustor, after such time as 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 whole, or in separate lots or parcels or Items as Trustee shall deem expedient, and in such order as it may <br /> determine, at public suction 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 or facts shall be <br />