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�01105505
<br />or substantial impairment of access or utility service to the Improvements or which would cause the Premises to fail
<br />to comply with any Legal Requirement.
<br />(k) Destruction. The Mortgaged Property is so demolished, desiroyed or damaged that, in the
<br />reasonable opinion of Beneficiary, 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 />restorarion.
<br />p) Liquidation, Etc: The liquidation, termination, 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 consolidation of a wholly-owned subsidiary pursuant to which Trustor acquires all of the assets of
<br />such subsidiary.
<br />(m) Enforceability; Priority. Any Loan Document shall for any reason without Beneficiary's specific
<br />written consent cease to be in full force and effect, or shall be declared null and void or unenforceable in whole or in
<br />part, or the validity or enforceability thereof, in whole or in part, shall be challenged or denied by any pariy thereto
<br />other than Beneficiary; or the liens, mortgages or security interests of Beneficiary in any of the Mortgaged Properly
<br />become unenforceable in whole or in part, or cease to be of the priority herein required, or the validity or
<br />enforceability thereof, in whole or in part, shall be challenged or denied by Trustor or any person obligated to pay
<br />any part of the Obligations.
<br />(n) Other Loan Documents. A default or event of default occurs under the Credit Agreement or any
<br />Loan Document other than this Deed of Trust, and the same is not remedied within the applicable period of grace (if
<br />any) provided in such Loan Document.
<br />The enumera,tion 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 tilne and from time to time declare any or all of such Obligations immediately due
<br />and payable and such Obligarions 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, declararion or act of any
<br />kind, all of which are hereby e�ressly 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 na.me, 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) require 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 ta.ke immediate possession, management and control of the
<br />Mortgaged Property without seeking the appointment of a receiver.
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