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' r ' ` '." .. � � , DEED OF TRUST 2 O 1 O O �l '� � +�
<br />. Y . �,� � a � . �- � i �� � . .
<br />(Continued) Page 4
<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 Deed of 7rust, the Npte
<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 fpr taxes or
<br />insurance, or any other payment necessary to prevent filing of or to effect discharga of any lien.
<br />Default in Favor of 1"hird Parties. Shpuld Grantpr default under any loan, extension of credit, security agreement, purchase or sales
<br />agreement, or any other agreement, in favor of any other creditor or person that may materially atfect any of Grantor's property or
<br />Grentnr's ability tn repay the Indebtedness or Grantor's abiliry to perform Gcan[or's obligations under this Deed of Trust or any of the
<br />Related Documents.
<br />F�Ise Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on Trustor's behalf under this
<br />Deed of 7rust 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 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 death of Trustor, the insalvency af Truatar, the appointment af a recaivar fpr any part of Trustar's prpparty,
<br />any assignment for the benefit nt creditors, any type of creditor workout, or the commencement of any proceeding under any
<br />bankruptcy or insolvency laws by ar against Trustar.
<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 7rustor ar 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 good faith dispute by Trustor as to the validity or reasonableness of the claim which is the
<br />basis of the credi[or or forteiture proceeding and if Trustnr gives Lender written notice of the creditor or forfeiture proceeding and
<br />deposits with Lender monies or a surety bond fpr the creditor or forfeiture proceeding, in an amount determined 6y Lender, in its sole
<br />discretion, as being an adequate resarve or 6ond 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 not
<br />remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other
<br />obligation of Trustor tn Lender, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantar, endprser, surety, nr accnmmodatian
<br />party of any of the Indebtedness or any guarantor, endorser, surety, or accommadation party dies or becames incompetent, or
<br />revpkes or disputes the validity of, or lia6ility 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 />performanca of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.,
<br />Right to Cure. If any default, ather than e 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 af 7rust within the preceding twelve (12) months, it may be cured if Trustor, after Lender sends written
<br />notice ta Trustor demsnding cure of such default: (1) cures the default within twenty (20) days; or (2) if the cure requires more
<br />than twenty (20► days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default
<br />and thereafter continues and completas all raasanable end necessary steps sufficient to produce compliance as soon as reasonably
<br />practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of 17efault occurs under this Deed of Trust,"at any time th�reaft�r, Trustee ar Lander
<br />may exercise any ons 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 �y this Deed nf Trust to be due and payahle and the same shall thereupon 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 tha 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, end spply #he 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 />prafits, and tha application thereof shall not cure or waive any default or notice of default under this peed of Trust or
<br />invalidate any act done in response to such default or pursuant to such natice of defsult; and, notwithstanding the
<br />continuance in possession of the Property or the callaction, receipt and application of rents, issues or profits, Trustee or
<br />Lender shall be entitled to exercise every right provided fnr in the Note or the Related Documents or by law upon the
<br />occurrence of any event of dafault, including the right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Peed of Trust as a mortgage, apppint a receiver or specifically enforce any of the
<br />covenants hereof; and
<br />(cl Deliver to Trustee a written declaration ot 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 Ipcated; and
<br />(d) With respect to all or any part of the Personal Praperty, Lsnder shall have all the rights and remedies of a secured party
<br />under the Nebraska Uniform Commercial Cade.
<br />Foreclosure hy Power of Sale. If Lender elects to foreclose by exercise of the Powec of Sale .F�gfeir� contain�d,.4,ender shall notify
<br />Trustee and shall depasit with Trustee this Deed of Trust and the N�e and such rec�ipts and 'evfdence qf expenditures made and
<br />secured by this Deed of Trust as Trustae may raquire.
<br />(a) Upon receipt ot such notice from Lender, Trustae 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, aiter such time as may then he 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 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 daads canveying the property sa
<br />sold, 6ut without eny covenant or warranty, express or implied. The recitals in such deed nf any mat#ers nr facts shall be
<br />conclusive proot of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br />purchase at such sale.
<br />(b) As may be permitted by law, after deducting all costs, fees and expensas of Trustaa end af this Trust, including costs of
<br />svidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of (i) all sums expended under
<br />the terms of this Deed af Trust or under the terms of the Note not then repaid, including but not limited to accrued interest
<br />and late charges, (ii) all other sums then secured hereby, and (iii) the remainder, if any, to the persan nr persons legally
<br />entitled thereto.
<br />(c) l'rustee may in the manner provided by law postpone sale of all or any portian of the Property.
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