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�01107595
<br />DEED OF TRUST
<br />(Continuedy Page 5
<br />Defective CoUateral'�zation. This Deed of Trust or any of the Related Documents ceases to be in full force and
<br />effect (inctuding failure of any coltateral documerrt to create a valid and perfected security interest or lien) at any
<br />time and for any reason.
<br />Death or Insolvency. The disso{ution of Trustor's {regardless af whethsr election io continue is made), any
<br />member wi�draws from the limited liabitity company, or arry other termination of Trustor's existence as a going
<br />bus3ness or the dsath af any member, the insalvency of Trustar, the appointment of a receiver for any part of
<br />Trustor's property, ar�y assignment for the benefit of creditors, any type of creditor workout, o� the
<br />commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br />Cred'rtor or Forfeiture Proceedings. {:ommencement of foreclosure ar farfeiture proceedings, whether by judicial
<br />proceeding, self-help, repossessfon ar any other method, by any creditor of Trustor or 6y any governmenta! agency
<br />against any property securing the Indebtedness. This includes a gamishment of any af Trustor's accounts,
<br />inctuding de�osii accounts, v+rith Lender. However, this Event of Default shall not apply if there is a good faith
<br />dispute by Trustor as to the vatidtty or reasonableness of the ctaim whieh is the basis of the crecEitor or forfeitu►e
<br />proc�eding and if Trusior gives �ender written notice of the creditor or forfeiture proceeding and deposits with
<br />Lender manfes ar a surety isond far the credRor or forfeiture proceeding, in an amour►t determined by Lender, in iis
<br />sate discretion, as being an adequate reserve or bond for the dispute.
<br />Bresch of Qther Agreemerst. Any breach by Trustor under the terms of any other agreement between 7rustor and
<br />Lender that is not remedied within any grace periad provided therein, inCluding without limitation any agreement
<br />concerning any indebtedness or other obligation of Trustar to LendQ�, whather exis#ing now ar later.
<br />Evercts Atfecting Guararitor. Any of the preceding events occurs with respect to any guarantior, endorser, surety,
<br />ar accommodation party of any of the indebtedness or any guarantor, endorser, surety, or accommodation parly
<br />dies or becomes irscompetent, ar revokes or disputes the validiry of, or liability under, any Guaranty of the
<br />Indebtedness.
<br />Adverse Change. A material adverss change occurs i� Trustor's fin�ncial condition, or Lender believes the
<br />prospect of payment or performance of the Indebtedness is impaired.
<br />Ir�security. Lender in good faith believes itself insecure.
<br />Right to Cure. If a�y default, other than a default in payment is aurabte and if Trustor has not been given a noYice
<br />of a breach of tha same provisian of this Deed of 7RUSt within the preceding twelve {12► monihs, it may be cured if
<br />Trustor, after Lender sends written natice to Trustor demanding cure of such defau{t: 11? cures the default within
<br />twenty �20I days; or i2) if the cure requirss more than twenty (20) days, immediately initiates steps which
<br />lender deems in Lender's sole discretion ia be sufficient to cure the default and thereafter continues and
<br />completes all reasonable and necessary sieps sufficient to produoe campliance as soon as reasonabty practioal.
<br />RIGFCi'S AIYD RFJIAEDIES ON DEFAUIT. If an Event of Default occurs under this Qeed of Trusi, at any time thereafter,
<br />Trustee or L.ender may exercise any one or more of the folEowing rights and remedies:
<br />Acceleration Upan Defauk; Additional Remedios. If any Event of Defeutt occurs as per the terms of the Note
<br />secured here6y, Lender may declare atl Indebtedness secured by this Deed of Trust to be due and payable and
<br />the same silall thereupon beaome due and payable without any presentment, demand, protest or notiae of a�y
<br />kind. Thereaiter, Lender may:
<br />1a1 Eitfier in person or by age�t, with or without bringing any action or praceeding, or by a receiver
<br />appointed by a oourt arsd without regard to the adequacy of its security, enter upon and take possessipn
<br />of Ute Praperty. or any part thereof, in its own name or in the name of Trustee, and do any acts which h
<br />deems necessary or desirable to preserve the value, marketability or rentabil'rty af the Property, or part of
<br />the Property or irrterest in the Propoety; inerease Lhe income from the Property or proteci the securlty of
<br />the Property; and, with or withouc taking possession of the Propeny, sue for or atherwiise colleci the
<br />rents, issues and profits of the Property, including those past due and unpaid, and apply the same. ]ess
<br />costs and expenses of operation and colfection attomeys' fees, to any indebtedness secured by this Deed
<br />04 Trust, ali in such order as Lender may determine. The eniering upon and taking possession of the
<br />Propercy, the aollection of such rents, fssues and proflts, and the application thereof shail not cure ar
<br />waive any default or notice of defautt under this Deed of Trust or invalidate any act done in response to
<br />such default or pursuani to such notiae of defisuk; and, noiwlthstanding the corrtinuance in possession ofi
<br />the Praperty or the collectia�, receipt and application of rents, issues or profits, Trustee ar Lender shall
<br />be entitied 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 ihe right ta exercise the power of sale;
<br />{b) Commence an action to foreolose this Deed of Trust as a mortgage, appoint a receiver or specifically
<br />enforce any of ihe cavenants hereof; and
<br />(c} Deliver to Trustee a written declaration of default and demand for sale and a written noiice of default
<br />and election to cause Trustor's interest in the Properly to be sold, which notiee Trustee shall cause to be
<br />duly filed for record in the appropriate offices of tfie Caunty in which the Praperty is located; and
<br />id} �th respeet to aU or any part of the Personal Fhraperty, Lender sF+all have all the righcs and remedfes
<br />of a secured party under the Nebraska Uniform Commercial Code.
<br />Foreclosure by Power of Sale. lf Lender elects to foreclose by exercise of the Power of Saie herefn conxafned,
<br />Lender shall notiEy Trusiee and shall deposit with Trustee this Deed af 7rust and the Note and such receipts
<br />and evidence of expenditures made and secured by this Deed of Trust as Trustee may require.
<br />ta} tipon receipY of such notice ftom Lender, Trustee shail cause to be recorded, published and delivered
<br />to 7rustor such Natke of Default and Notice of Sale as then required by law and by this Deed of Trust.
<br />Trustee shall, without demand on Trustor, after such time as may then be required by law and after
<br />recordation of such Notice of Detault and after Notice of Sale having been given as required by law, sell
<br />the Prop�ny at the time anct place of sale fixed by it in such Notice of Sale, e'rthar as a whols, or in
<br />sepa�ate lots or paroels or items as Trusiee sha11 deem expedierit, snd in such order as it may determine,
<br />at public auction to the highest bidder iar cash in lawful money of the United States payaBte at the time
<br />of safe. Trustee sha11 deliver to such purchaser or purchasers it►ereof its good and su�Cient deed or
<br />deeds conveying the property sa sold, but whhout any covenant or warranty, express ar impGed. The
<br />recitals in such tleed of any matters or facts shatl 6e conclusive proaf af the truthfulness thereof. Any
<br />persan, including without limltetion Trustor, Tn�stee, or Lender, may purchase at such sale.
<br />{b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of thls
<br />Trust, including cosis of evidence of title in connection with sa�e, Trustee sha11 apply the proceeds of sale
<br />to payment af {ij all sums e�cpended under the terms of this Deed of Trusi or under the terms of the IVote
<br />not then repaid, inctuding but not limited to accrued interest and late aharges, {iiy atl other sums then
<br />secured hereby, and {iii) the remainder, if any, to the person or persons legally ent'rtled thereto.
<br />tc} Trustee may in the manner provided by law postpone sale of all or any portion of ihe Property.
<br />Reniedies Rtot Exc[usive. Trustee and Lencler, and each of them, shall be enUtled to enforce paymerrt and
<br />performance af any indebtedness or obligations secured by this Deed of Tnist and to sxercise alI rights and, powers
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