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<br />. DEED OF TRUST �� i��� 8 C� � p�ge 4
<br />. � �.. .� , . r ;5 �.
<br />(Continued)
<br />Default an pther Payments. Failure of Trustor within the time required by this Daed af Trust ta 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 Perties. Should Grantor default under any loan, extension of credit, security agrsement, purchase or sales
<br />agreemen[, or any other agreement, in favor of any other creditor or person [hat may materially affect any of Grantor's property or
<br />Grantor's ability to repay the Indebtedness or Grantor's ability to perform Grantor's ob�igations under this �eed of Trust or any of the
<br />Related Documents.
<br />�slse Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on Trustor's behalf under this
<br />Deed of Trust or the Related Documents is talse ar 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. 7he dissolution of Trustar's (regardless of whether election to continue is made►, any member withdraws from
<br />the limited liability company, or any other termination of 7rustor's existence as a going business or the death of any member, the
<br />insolvency of Trustor, the appoin[men[ of a receiver for any part of Trustor's property, any assignment for the benefit of creditors, �ny
<br />type of creditor wprkput, or the commencement of any proceeding under any bankruptcy or insolvency laws 6y or against 7rustor.
<br />Creditor or Forfeiture Proceedings. Commencement of fnreclosure or forfeiture proceedings, whether by judicial proceeding, self-help,
<br />repossession or any other method, by any creditor af 1"rustor or by any governmental agency against any property securing the
<br />Indebtedness. 7his includes a garnishment of any of Trustor's accounts, including deposit accounts, with Lender. However, this
<br />Event of Default shall npt apply if there is a good faith dispute by Trustor as ta the validity or reasonableness of the claim which is the
<br />basis of th� creditor or forfeiture proceeding and if Trustor gives Lender written notice of the creditor or forfei[ure proceeding and
<br />deposits with Lender monies or a surety bond for the creditar or forteiture proceeding, in an amount determined by Lender, in its sole
<br />discretion, as 6eing an adequate reserve or bond for tha 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 cancerning any indebtedness or other
<br />obligation of 7rustor to Lender, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding avents occurs with respect to any Guarantor of any of the Indehtedness or any
<br />Guarantor dies or becbmes incompeteni, or revokes or disputes the validity of, or liabili[y under, any Guaranty of the Indebtedness.
<br />Adverse Chenge. A material adverse change occurs in 7rustor's financial condition, or I�ender believes the prospect of payment or
<br />performance of the Indebtedness 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 beed of Trust within the precading twelve (12) months, it may be cured if Trustar, after Lender sends written
<br />notice to Trustor demanding cure of such default: (1) cures the defauli within twenty (20) days; ar (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 con[inues and completes all reasonakrle and necessary steps sufficient to produce compliance as soon ss reasonably
<br />practical.
<br />RIGHTS ANb R�MEDIES 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 Def�ult; Additional Remadies. If any Event of Default occurs as per the terms of the Note secured hereby,
<br />Lender may declare all Indebtedness secured by this Deed of Trust [o be due and paya6le and the seme shail thereupon become
<br />due and payable without any presentment, demand or protest af 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 cour[ 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 7rustee, and do any acts which it deems necessary or desiraqle to preserve the velue,
<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 possessian of the Property, sue for or otherwise
<br />collect the rents, issues and profits of the Property, including thnse past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection attorneys' fees, ta any indebtedness secured by this Deed of Trust, all in such nrder 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 applicatibn thereof shall not cure or waive any default or na�ice of defautt under this Deed of Trust or
<br />invalidate any act done in response to such default or pursuant [o such notice of default; and, notwithstanding the
<br />continuance in possession of the Praperty or the collection, receipt and application af rents, issues or profits, Trustee or
<br />Lender shall be entitled to exarcise every right provided far in khe Note or the Related Documents or py law upon the
<br />occurrence of any even[ of default, including the righi zo exercise the power of sale;
<br />(b► Commence an action ta foreclose this Deed of Trust as a mor[gage, appoint a receiver or specificaliy enforce any of the
<br />covenants hereof; and
<br />(c) Deliver [o Trustes a written declaration of default and demand for sale and a writtan natice 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 respsct to all or any par[ of the Personal Property, Lender shall have all the rights and remedies of a secured party
<br />under the Nebraska Uniform Commercial Cade.
<br />Foreclosure by power of Sale. If Lender elects to foreclose by exercise nf the Power of Sale herein contained, Lender shall notify
<br />7rustee and shall depasit with Trustee this Desd of 7rust and the Note and such recaipts and evidence of expenditures made and
<br />secured by this Deed of 7rust as Trustee may require.
<br />(a) Upon receipt of such notice from Lender, 7rustee shall cause to be recorded, published and delivered to Trustor such
<br />Notice of Default and Notice af Sale as then required by law and by this �eed of Trust. Trustee shall, withaut demand on
<br />Trustor, after such time as may then be required by law and after recordation of such Notice of �efault and after Notice of
<br />Sale having been given as required by law, sell the Property at the time and place of sale fixed 6y it in such Notice of Sale,
<br />either as a whole, or in separate lots or parcels or items es Trustee shall deem expedienS, 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 />7rustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds cnnveying the property so
<br />sold, but without any covenant or warranty, express nr implied. The recitals in such deed of any matters or facts shall be
<br />conclusive prbof of the iruthfulness thereof. Any person, inciuding 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 expenses of Trustee and of this Trust, including cos[s of
<br />evidence of title in connectian with sale, Trustee shall apply the prpceeds of sale to payment of (i) all sums expended under
<br />the terms of this Deed of 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 perspn qr perspns Iegaliy
<br />entitled thereto.
<br />(c) Trustee may in the manner provided by taw postpone sale of all or any portion of the Property.
<br />Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and performance of any
<br />indebtedness or obligations secured by this Deed of Trust and to exercise alI rights and powers under this Deed of Trust, under the
<br />Note, undar any af the Related Pocumants, or under any other agreament or any laws now or hereafter in force; notwithstanding,
<br />some or all nf such indebtedness and obligations secured �y this Deed of Trust may now or hereafter 6e otherwise secured, whether
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