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<br />',:�E C o n�t nued)ST 2 0110 3 7 2 0 page 4
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<br />EVENTS OF DEFAULT. At LendePs option, Trustor will be in default under this Deed of Trust if any of the following happen:
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Break Other Promises. Trustor breaks any promise •'made to Lender or fails to perform promptly at the time and strictly in the manner
<br />provided in this Deed of Trust or in any agreement related to this Deed of Trust.
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<br />Complience Defauk. Failure to comply with any qther 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 Paymer�ts. Failure of Trustor ; wdthin the time required by this Deed of Trust to 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 />False Statements. Any representation or statement made or furnished to Lender by Trustor or on Trustor's behalf under this Deed of
<br />Trust or the Related Documents is false or mislea�Iin� in any material respect, either now or at the time made or furnished.
<br />Defective CollateralizaUon. This Deed of Trust or- �ny of the Related Documents ceases to be in full force and effect (including failure
<br />of any collateral document to create a valid and perfscted security interest or lien) 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 "frustor's property,
<br />any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proGeeding under any
<br />bankruptcy or insolvency laws by or agaittist Trustor� . _
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<br />Taking of the Property. �Any creditor or agency tries Yb take any of the Property or�any other, of�Trustor's property in
<br />which Lender has a lien. This includes taking o'f, g�arnishing 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 �.ender 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 Agreemerrt. 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� i�cluding without limitation any agreement concerning any indebtedness or other
<br />obligation of Trustor to Lender, whether existing nov✓ or later. '
<br />Events Affecting Guarantor. Any of the preceding �Lents occurs with respect to any guarantor, endorser, surety, or accommodation
<br />party of any of the Indebtedness or any guaraqrtor, endorser, surety, or accommodation party dies or becomes incompetent, or
<br />revokes or disputes the validity of, or Iiability under; bny Guaranty of the Indebtedness.
<br />Insecurity. Lender in good faith believes itself ins�cure.
<br />RFght to Cure. If any default, other than a default� im,payment is curable and if Trustor has not bee� given a notice of a breach of the
<br />same provision of this Deed of Trust within the �rec'eding twelve �(12) months, it may be cured if Trustor, after Lender sends written
<br />notice to Trustor demanding cure of such defaul�; �-�(.1) cures the default within twenty (20) days; or (2) if the cure requires more
<br />than twenty (20) days, immediately initiates step� v�hich Lender deems in Lender's sole discretion to be sufficient to cure the default
<br />and thereafter continues and completes all reasa�hable and necessary steps sufficient to produce compliance as soon as reasonably
<br />practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event a�iRt�fault 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 Remedies. 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 payable and the same shall thereupon become
<br />due and payable without any presentment, dprr�nd, protest or notice of any kind. Thereafter, Lender may:
<br />(a) Either in person or by agent, with or` i�iYhout bringing any action or proceeding, or by a receiver appointed by a court and
<br />without regard to the adequacy of its � enter upon and take possession of the Property, or any part thereof, in its
<br />own name or in the name of Trustee;, au�d do any acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentability of the Property; or part of #h�_P�rop�_rky o[ i�tefeg�, i�t the PGQpierty; _ i��c�ase_the,in�pme, ��rpm the
<br />Property or protect the security of the Pro'perty; and, with or wit�hout taking possession of the hroperty, sue for or otherwise
<br />collect the rents, issues and profits of tl�e 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 uQdn; and taking possession of the Property, the collection of such rents, issues and
<br />profits, and the application thereof shgll � 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, receipt and application of rents, issues or profits, Trustee or
<br />Lender shall be entitled to exercise ev�ry. 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 tFSis Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the
<br />covenants hereof; and '
<br />(c) Deliver to Trustee a written declar�tio� of 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 shatt cause to be duly filed for record in fhe
<br />appropriate offices of the County in whi�h 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 Nebraska Uniform Commercial Cbde.
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<br />Foreclosure by Power of Sale. If Lender elects'Yo foreclose by exercise of the Power of Sale herein contained, Lender shall notify
<br />Trustee and shall deposit with Trustee this D�Ac of Trust and the Note and such receipts and evidence of expenditures made and
<br />secured by this Deed af Trust as Trustee maq �equire.
<br />(a) Upon receipt of such notice from Le�hder, Trustee shall cause to be recorded, published and delivered to Trustor such
<br />Notice of Default and Notice of Sale asithen 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 I�w, sell the Property at the time and place of sale fixed by it in such Natice of Sale,
<br />either as a whole, or in separate lots �r, or items as Trustee shall deem expedient, and in such order as it may
<br />determine, at public auction to the high�st; 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 ar deeds conveying the property so
<br />� ` sofd, but withtruY any coven�nfi�or warreriti'�+; express`�r �m�3lied. The recitels in "sudh deed'of �ny i�iatfers"or ��cfs s�iall be
<br />conclusive proof of the truthfulness ther$pf. 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 expenses of Trustee and of this Trust, including costs of
<br />evidence of titla in connection with sale;'TV'trstee shall apply the proceeds of sale to payment af (i) all sums expended under
<br />the terms of this Deed of Trust or undeT th� terms of the Note not then repaid, including but not limited to accrued interest
<br />and late charges, i��) all other sums th�n 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 Exclusive. Trustee and Lender, and each of them, shall be entitled to enfarce payment and performance of any
<br />indebtedness or obligations secured by this Deec� 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 urad�r any other agreement or any laws now or hereafter in force; notwithstanding,
<br />some or all of such indebtedness and obligations seGUred by this Deed of Trust may now or hereafter be otherwise secured, whether
<br />by mortgage, deed of trust, pledge, lien, assignm�rlt �or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement,
<br />whether by court action or pursuant to the power of sale or other powers contained in this Deed of Trust, shall prejudice or in any
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