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20�1049�2
<br />(k) Destruction. The Mortgaged Property is so demolished, destroyed or damaged that, in the
<br />reasonable opinion of Bene�iciary, it cannot be restored or rebuilt (1) with available funds, (2) to a profitable
<br />condition, (3) within a reasonable period of time, and (4) in accordance with Beneficiary's requirements for
<br />restoration.
<br />(I) Liquidation, Etc. The liquidation, ternunation, dissolution, merger, consolidation or failure to
<br />maintain good standing in the State of Nebraska (or in the State of its incorporation or organization) of the owner of
<br />the Mortgaged Property or any person obligated to pay any part of the Obligations, except for any merger,
<br />dissolution or consolidaxion of a wholly-owned subsidiary pursuant to which Trustor acquires all of the assets of
<br />such subsidiary.
<br />{m) Enforceability; Priority. Any Credit Document shall for any reason without Beneficiary's
<br />specific written consent cease to be in full force and effect, or shall he declared null and void or unenforceable in
<br />whole or in part, or the validity or enforceability thereof, in whole or in part, shall be challenged or denied by any
<br />party thereto other than Beneficiary; or the liens, mortgages or security interests of Beneficiary in any of the
<br />Mortgaged Property become unenforceable in whole or in part, or cease to be of the priority herein required, or the
<br />validity or enforceability thereof, in whole or in part, shall be challenged or denied by Trustor or any person
<br />obligated to pay any part of the Obligations.
<br />(n) Other Credit Documents. A default or event of default occurs under the Loan Agreement or any
<br />Credit Document other than this Deed of Trust, and the same is not remedied within the applicable period af grace
<br />(if any) provided in such Credit Document.
<br />T`he enumeration of specific events of default shall not impair the demand nature of any of the Obligations
<br />which by its terms or otherwise is payable on demand.
<br />ARTICLE 5 - REMEDIES
<br />Section 5.1 Certain Remedies. If a default shall occur, Beneficiary may (but shall have no obligation
<br />to) exercise any one or more of the following remedies:
<br />(a) Acceleration. With respect to any Obligations other than any Obligation which is payable on
<br />demand, Beneficiary may at any time and from time to time declaze any or all of such Obligations immediately due
<br />and payable and such Obligations shall thereupon be immediately due and payable, with presentment, demand,
<br />protest, notice or protest, notice of acceleration or of intention to accelerate or any other notice or declaration of any
<br />kind, all of which are hereby expressly waived by Trustor. Without limitation of the foregoing, upon the occurrence
<br />of a default described in clauses (i), (iii) or (iv) of paragraph (d)(1) or paragraph (d)(2) of Section 4.1 hereof, all
<br />Obligations shall thereupon be immediately due and payable, without presentment, demand, protest, notice of
<br />protest, declaration or notice of acceleration or intention to accelerate, or any other notice, declaration or act of any
<br />kind, all of which are hereby expressly waived by Trustor.
<br />(b) Enforcement of Assignment of Rents. From the date of default through the expiration of the last
<br />redemption period following the foreclosure of this Deed of Trust, Beneficiary may: (1) terminate the License and
<br />collect and/or sue for the Rents in Beneficiary's own name, give receipts and releases therefor, and after deducting
<br />all expenses of collection, including attorneys' fees and expenses, apply the net proceeds thereof to the Obligations
<br />in such manner and order as Beneficiary may elect and/or to the operation and management of the Mortgaged
<br />Property, including the payment of management, brokerage and attorneys' fees and expenses; and (2) reqnire Trustor
<br />to transfer all security deposits and records thereof to Beneficiary together with original counterparts of the Leases.
<br />(c) Collection. Beneficiary may collect the outstanding Obligations with or without resorting to
<br />judicial process.
<br />(d) Assembly of Collateral. Beneficiary may require Trustor to deliver and make available to
<br />Beneficiary any and all Collateral at a place reasonably convenient to Trustor and Beneficiary.
<br />(e) Possession. Beneficiary may take immediate possession, management and control of the
<br />Mortgaged Property without seeking the appointment of a receiver.
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