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DEED OF TRUST 2 p;� i 0 2 9 8�. <br />(Continued) Page 4 <br />Payment Default. Trustor fails to make any payment when due under the Indebtedness. <br />Break Othar Promisss. Trustor breaks any promise made to Lender or fails to perform promptly at the time end strictly in the manner <br />provided in this Deed of Trust or in any agreement related to this Deed of Trust. <br />Complfance Default. Failure to comply with any other term, obligation, covenant or condition contafned 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 flling of or to effect discharge of any lien. <br />False Statements. Any representation or statement made or furnished to Lender by Trustor or on Trustor's behalf under this Deed of <br />Trust ar the Related Documents is false or misleading in any material respect, either now or at the time made or furnished. <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 vatid and pertected security interest or Ifen) at any time and for any reason. <br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any part of Trustor's property, <br />any assignment, for the beneflt of creditors, �ny type of creditortivorkout, or the commefic�ment of any proceeding under any <br />bankruptcy or insolvency laws by or against Trustor. <br />Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of Trustor's property in <br />which Lender has a lien. This includes taking of, garnishing of or levying on Trustor's accounts with Lender. However, if Trustor <br />disputes in good faith whether the claim on which the taking of the Property is based is valid or reasonable, and if Trustor gives <br />Lender written notice of the claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, then <br />this default provision will not apply. <br />Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement beiween 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 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 />Insecurity. Lender in good faith believes itself i�secure. <br />Exlsting Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is not made within the <br />time required by the promissory note evidencing such indebtedness, or a default occurs under the instrument securing such <br />indebtedness and is not cured during any applicable grace period in such instrument, or any suft or other actlon is commenced to <br />foreclose any existing lien on the Property. <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 Remedles. 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 to be due and payabie 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 of 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, qr part of fhe.�Property, oF int�rest.in th�:Property;,increase,the ir�ceme 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, rece(pt and application of rents, issues or proflts, 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 speciflcally 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 Trustors 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 (s located; and <br />(d) With respect to all or any part of the Personal Property, Lender shatl 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 Deed of Trust and the Note and such receipts and evidence of expenditures made and <br />secured by this Deed of Trust as Trustee may requ(re. <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 flxed by it in such Notice of Sale, <br />efther as a whole, or in separate lots or parcels or items as Trustee shall deem expedfent, 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 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 />conclusi�e proof of the truthfulnesa thereof. Any person, including� oviti9out limitation Trustor, Tru§tee, 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 costs of <br />evidence 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 of Trust or under the terms of the Note not then repaid, including but not limited to accrued interest <br />and late charges, (ii) alt other sums then secured hereby, and (iii) the remainder, if any, to the person or persons legally <br />entitled thereto. <br />(c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property. <br />Remedies Not Excluslve. Trustee and Lender, and each of them, shall be entiUed to enforce payment and performance of any <br />indebtedness or obligations secured by this Deed of Trust and to exercise all rights and powers under this Deed of Trust, under the <br />Note, under any of the Related Documents, or under any other agreement or any laws now or hereafter in force; notwithstanding, <br />some or all of such indebtedness and obligations secured by this Deed of Trust may now or hereafter be otherwise secured, whether <br />by mortgage; deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of thCs Deed of Trust nor its enforcement, <br />whether by court action or pursuant to the power of sale or other powers contained fn this Deed of Trust, shall prejudice or In any <br />manner affect Trustee's or Lender's right to realize upon or enforce any other security now br hereafter held by Trustee or Lender, it <br />being agreed that Trustee and Lender, and each of them, shall be entitled to enforce this Deed of Trust and any other security now or <br />hereafter held by Lender or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No <br />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 <br />