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201007�58 DE�D OF TRUST Loan No: 808314 (Continued) Page 4 Defective Gollataralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure of any coliateral document to create a valid and perfected security interest or lien) at any time and for any reason. Death or Insolvency. The death of Trustor, the insolvency pf Trustor, the appointment of a receiver for any part of Trustor's praperty, any assignment for the benefit of creditqrs, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor. Taking of the Property. Any creditpr pr governmental agency tries to take any of the Property or any other of Trustor's property in which Landar has e lisn. This includes taking of, garnishing of or levying on Trustor's accounts with Lender. However, if Trustor disputes in good faith whether the claim on which the taking of the Praperty is based is valid or reasonable, and if Trustor gives Lender written notice of the ciaim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, then this dafault provision will not apply. 9reach of Other Agreemant. Any breach by Trustor under the terms of any other agreement between 7rustor and Lender that is not remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Trustor to Lender, whether existing now or later. Events Affecting Guarantor. Any of the preceding evants vccurs with respect to any guarantor, endorser, surety, or accommodation party of any of the Indebtedness or eny guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. Insecurity. Lender in good faith believes itself insecure. Right tn Cura. 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 sama provision of this Deed bf Trust within the preceding twelve (12) months, it may be cured if Trustor, after Lender sends written notice to Trustor demanding cure of such defsult: (1) cures the default within twenty (20) days; or (2) if the cure requires more than twenty (20) days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this beed of 7rus#, st any time thereafter, 1'rustea or Lender may exerpise any one pr more of the following rights and remedies: Acceleration Upon Defeult; Additional Remedies. If any Event of Default occurs as per the terms nf the Note secured here6y, Lender may declare all Indebtedness secured by this Deed of �rust to be due and payable and the same shall thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may: (a) Either in person pr by agent, with or without bringing any actian or proceeding, or by a receiver appointed by a court and without regerd to the adequacy of its security, enter upon and take possession of the Praperty, or any part thereof, in its own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of the Property, ar part of the Property or interest in the Property; increase the income from the Property or protect the security of the Property; and, with or without taking possession of the Prvparty, sue for or otherwise collect the rents, issues and profits of the Prnperty, including those past due and unpaid, and apply the same, less costs and expenses of operation and colleotion attorneys' fees, to any indebtedness secured by this Deed of Trust, all in such order as Lender may determine. The entering upon and taking possession of the Property, the collectian of such rents, issues and protits, and the application thereof shall not cure or waive any default or notice of dafault under this Deed of Trust or invalidate eny act dane in response to such default or pursuant to such notice of default; and, notwithstanding the continuance in passession pf the Property or the collection, receipt and spplication of rents, issues or profits, Trustee or Lender shall be entitled to exercise every right pravided for in the Note or the Related Documents vr by law upon the occurrenc� of any event of default, including #he right to exercise the power of sale; (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint e receiver or specifically enforce any af the covenants hereof; and (c) Deliver to Trustee a written declaration of default and demand for sale and a written natice of default and election to cause Trustor's interest in the Property to be sold, which notice Trustee shall causa #0 6e duly filed for record in the appropriate offices of the County in which the Property is located; and (d) With respect to all or any part of the Persnnal Property, Lender shall have all the rights and remedies of a secursd party under the Nebraska Uniform Commercial Code. Foreclosure by Powar qf Sale. If Lender elects to foreclose by exercise of tha Power of Sale herein contained, Lender shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expendituras made and secured by this Deed of Trust as Trustee may require. (a) Upon receipt of such notice from Lender, Trustee shall cause to 6e recorded, published and delivered to Trustor such Notice of Default and Notice of Sale as then required by law and by this ❑eed of Trust. 7rustee shall, without demand on Trustor, after such time as may then be required by law and sfter recordation of such Notice nf Default and after Notice of Sale having been given as required by law, sell the Praperty at the time and place of sale fixed by it in such Notice nf Sale, either as a whole, or in separate lots or parcels ar items as Trustee shall deem expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of sele. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds conveying the property so sold, but without any couenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including without limitation Trustnr, Trustee, or Lender, may purchase at such sale. (b) As may be permitted by law, after deducting all costs, fees and expensas of Trustee and of this Trust, including costs of evidence of title in connection with sele, Trustee shall apply the proceeds of sale to payment of (i) all sums expended under the terms of this Deed of Truxt or under the terms of the Note nat then repaid, including but not limited to accrued interest and late charges, (ii) all other sums then secured hereby, and (iii) the remainder, if any, to the persan or persons legally entitled thereto. (c) Trustee may in tha manner provided by law postpone sale of all or any portion of the Property. Remedies Not �xclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and performance of any indebtedness or obliga#ions secured by this Deed of 7rust and to exercise all rights and powers under this deed of Trust, under the Note, under any of the Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding, some or all of such indebtedness and obligations secured by this Deed of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neithar the acceptanca of this Deed of Trust nor its enforcement, whether by court action or pursuant tv the power of sala pr other powers contained in this Deed of Trust, shall prejudice or in any manner affect Trustee's or Lender's right to realize upon or enforce any other security now or hereafter held by Trustee or Lender, it being agreed that Trustee and Lender, end each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Lender ar Trustee in such order and manner as they vr either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given in this Deed of Trust or now or hereafter existing at law or in equity ar by statute. Every power or remedy given by the Note or any of the Related Documents to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised, concurrently or independently, from time ta time and es often as may be deemed expedient by Trustee or Lender, and either of them may pursue inconsistent remedies. Nothing in this Deed of 7rust shall be construed as prohibiting Lender from seeking a deficiency judgment against the Trustor to the extent such action is permitted by law. Election of Remedles. All of Lender's rights and remedies will be cumulative and may be exercised alone or together. If Lender decides tv spend money or ta perform any of Trustor's obligations under this Deed of Trus#, after Trustor's failure to do so, that decision by Lender will not affect Lender's right to declare Trustor in default and to exercise Lender's remadies. a " ' f � , .. .