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DEED OF TRUST
<br />Loan No: 16551 (Continued) 2 0 11 0 3� 6i Pa9e 2
<br />to evoid application of any coinsurance clause, and with e standard mortgagee clause in favor of Lender, together with such other
<br />hazard and liability insurance as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. ' Trustor, upon request of
<br />Lender, wili deliver to Lender from time to time the policies or certificates of insurence in form satisfactory to Lender, including
<br />stipuletions thet coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each
<br />insurence policy also shail include en endorsement providing that coverage in favor of Lender will not be impaired In any way by any
<br />ect, omission or detault of Trustor or any other person. Should the Real Property be located in an area designated by the Director of
<br />the Federal Emergency Management Agency as e special flood hazard area, Trustor agrees to obtain and maintain Federal Flood
<br />Insurance, if available, for the futi unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the
<br />maximum policy limits set under the Nationai Flood Insurance Program, or es otherwise required by Lender, end to maintain such
<br />insurance for the term of the loan.
<br />LENDER'S EXPENDITURES. If Trustor fails 1A) to keep the Property free of aff taxes, liens, security interests, encumbrances, and other
<br />claims, (B) to provide any required insurance on the Property, (C) to make repalrs to the Property or to comply with any obligation to
<br />maintain Existing Indebtedness in good standing as required below, then Lender may do so. If any action or proceeding is commenced that
<br />would materially effect Lender's interests in the Property, then Lender on Trustor's behalf may, but is not required ta, teke eny action that
<br />Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
<br />interest at the rate cherged under the Note frortu the date incurred or peid by Lender to the date, of repayment by Trustor. All such
<br />expenses will become a part of the Indabtedness and, at Lender's opfian, wili (A) be payable on demand; 1B) be added to the balence ot
<br />the Note and be apportioned among and be payable with any installment payments to become due during either (11 thg term of any
<br />eppliceble insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payabfe
<br />at the Note's maturity.
<br />WARRANTY; DEFENSE OF T(TLE. The fallowfng provisions relating to ownership of the Property are a pert of this Deed of Trust:
<br />Title. Trustor warrants that: (at Trustor holds good and marketable title of record to the Property in fee simple, free and olear of all
<br />liens end encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in
<br />any title insurence policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Trustor has the full right, power, and authority to execute and deliver thls Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragreph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of ail persons.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a pert of this Deed of Trust:
<br />F�cisting Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an existing lien. Trustor
<br />expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to preveni any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security documents for such
<br />indebtedness.
<br />EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the foflowing happen:
<br />Payment Default. Trustor faiis to make any payment when due under the Indebtedness.
<br />Break Other Promises. Trustor breaks any promise made to Lender or fai(s to perform promptly af the time and strictty in the manner
<br />provided in this Deed of Trust or in any agreement related to this Deed of Trust.
<br />Compliance Defeult. Failure to comply wfth 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 />insurence, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />�
<br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appolntment of a receiver for any pert of Trustor's property,
<br />any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any
<br />bankruptcy or insolvency laws by or against Trustor.
<br />Events AfFecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodetion
<br />perty of eny of the indebtedness or any guarantor, endorser, surety, or accommodetion party dies or becomes incompetent, or
<br />revokes or disputes the validity of, or liability under, eny Guaranty of the Indebtedness.
<br />Insecurtty. Lender in good feith believes itself insecure.
<br />F�cisting 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 applicabie grace period in such instrument, or any suit or other action is commenced to
<br />foreclose any existing lien on the Property.
<br />Right to Cure. If eny default, other than e default in payment is curable end if Trustor has not been given a notice of a breach of the
<br />same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if Trustor, after Lender sends written
<br />notice to Trustor demanding cure of such default: (1) cures the default within fifteen (15) deys; or (2) if the cure requires more than
<br />fifteen (15) deys, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the defauit and
<br />thereafter continues and completes ell reasonable and nacessary steps suffic3ent to produce compliance as soon es reasonably
<br />practicaL
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default under any indebtedness, or should Trustor fail to
<br />comply with any of Trustor's obligations under this Deed of Trust,�Trustee or Lender may exercise any one or more of the foliowing rights
<br />and remedies:
<br />Acceleration Upon Default; Additlonal Remedies, If any Event of Default occurs as per the terms of the Note secured hereby,
<br />Lender mey declare all (ndebtedness secured by this Deed of Trust to be due and payable end the same shell thereupon become
<br />due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
<br />1ai Eitk'ter in person or by agent, with nr withou4 bringing any acYion or pcocesding, or t�y a receiver appoir�ted by a court and
<br />without regerd to the edequacy of its security, enter upon end take possession of the Properry, 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 va(ue,
<br />marketability or rentability of the Property, or part of tha Propeny or interest ln the Property; increase the income from the
<br />Property or protect the secur(ty 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 Properry, including those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and co!lection attorneys' fees, to any indebtedness secured by this Deed of Trust, all in such order es
<br />Lender may determine. The entering upon end teking possession of the Property, the collection of such rents, issues and
<br />profits, and the applicetion thereof shall not cure or waive eny default or notice of default under this Deed of Trust or
<br />invelidate any act done in response to sucb default or pursuant to such notice of default; and, notwithstanding the
<br />continuance in possesaion of the Property or the collection, receipt and application of rents, issues or profits, Trustee or
<br />Lender shall be entitfed to exercise every right provided for in the Note or the Related Documents or by law upon the
<br />occurrence of any event of defeult, including the right to exercisa 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 />covenents hereof; and
<br />(c) Deliver to Trustee a written declaretion of default and demand for sale and a written notice of defau(t and election to
<br />cause Trustor's interest in the Property to be sold, which noYice Trustee shell cause to be duty 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 Nebreska Uniform Commerciel Code.
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