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201107835
<br /> DEED OF TRUST
<br /> Loan No: 810256 (Con$inued)
<br /> Page 5
<br /> any material respect, either now or at the time made or furnished or becomes faise or misleading at any time
<br /> thereafter.
<br /> �efective Collateralization. Tti�is Deed of Trust or any of the Related Documents ceases to be in full force and
<br /> effect(including failure of any collateral document to create a valid and perfected security interest or lien) at any
<br /> time and for any reason.
<br /> Insolvency. The dissolution or termination of the Trust,the insolvency of Borrower or Trustor,the appointment of
<br /> a receiver for any part of Borrower's or Trustor's property,.any assignment for the benefit of creditors,any type of
<br /> creditor workout,or the commencement of any proceeding under any bankruptcy or insolvency laws by or against
<br /> Borrower or Trustor.
<br /> Creditor or Forfeifure Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br /> proceeding, self-help, repossession or any oYher method, by any creditor of Borrower or Trustor or by any
<br /> governmental agency against any property securing the Indebtedness. This includes a garnishment of any of
<br /> Borrower's or Trustor's accounts, including deposit accounts, with Lender, However, this Event of Default shall
<br /> not apply if there is a good faith dispute by Borrower or Trustor as to the validity or reasonableness of the clafm
<br /> which is the basis of the creditor or forfeiture proceeding and if Borrower or Trusmr gives Le�der written notice of
<br /> the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture
<br /> . proceeding,:in an�amount determined by Lender,in its sole discretion,as being an adequate reserve or bond for the
<br /> dispute.
<br /> Breach of Other Agreement. Any breach by Borrower or Trustor under the terms of any other agreement between
<br /> Borrower or Trustor and Lender that is not remedied within any grace period provided therein, including without
<br /> limitation any ag�eemerit concerning any indebtedness or other obligaCion of Borrower or Trustor to Lender;
<br /> whether existing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor,endorser,surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor,endorSer,surety, or accommodation party
<br /> dies or becomes incompeten�t, or revakes or disputes the validJty of, or lia6ility under, any Guaranty of the
<br /> Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Borrower's or Trustor's financial conditio�n, or Lender
<br /> believes the prospect ot payment or performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> RIGHTS AND REMEDIES ON DEPAULT, If an Event of Default occurs undet this Deed of Trust,at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the following rights and remedies:
<br /> Acceleration Upon Default;AddiYional Remedies. If any EvenY of Default occurs as per the terms of the Note
<br /> secured hereby,Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shall thereupon become due and payable Without any presentment,demand,protest or notice of any
<br /> kind. Thereafter,Lender may:
<br /> Ia) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br /> appoinTed by a court and without regard to the adequacy of its security,enter upon and take possession
<br /> of the Property,or any part thereof,in its own name or in the name of Trustee,and do any acts which.it
<br /> deems necessary or desirable to preserve the va��lue,marketability or rentability of the ProperCy,or part of
<br /> the Property or interest in the Property;increase the income from the Property or proteci ihe security of
<br /> the Property; and, with or withouL taking possession of the Property, sue for or otherwise collect the
<br /> rents,issues and profits of the Property,including those past due and unpaid, and apply the same, less
<br /> costs and expenses of operation and collection attorneys'fees,to any indebtedness secured by this Deed
<br /> of Trust, allin such order as Lendet may determine, The entering upon and talting possession of Yhe
<br /> Property, the collection of such rents, issues and profits, and the application thereof shall not cure or
<br /> waive any default or notice of default under this Deed of Trust or invalidate any act done in response to
<br /> such default or pursuant to such notice of default;and,notwithstanding the continuance in possession of
<br /> the Property or the collection,receipt and application of rents,issues or profits,Trustee or Lender shall
<br /> be entitled to exercise every right provided fior 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 this Deed of Trust as a mortgage,appoint a eeceiver or specifically
<br /> enforce any off fhe covenanYS hereof;and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default
<br /> and election to cause Trustor's interest in the Property to be sold,which notice Trustee shall cause to be
<br /> duly Piled for record in the 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
<br /> of a secured party under the Nebraska Uniform Commercial Code.
<br /> Foreclosure by Power o{Sale. If Lender elects to foredose 6y exercise of the Power of Sale herein contained,
<br /> Lender shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts
<br /> and evidence of expenditures made and secured by.his Deed of Trust as Trustee may require.
<br /> (al Upon receipt of such notice from Lender,Trustee shall cause to be recorded,published and delivered
<br /> Yo Trustor such NoTice of Default and Notice of Sale as then required by law and by this Deed of Trust.
<br /> Trustee shall, without demand on Trustor, aher such time as may then be required by law and after
<br /> recordation of such Notice of Default and after Notice of Sale having been given as required by law,seli
<br /> the Property at the ti�me and place of sale fixed by it in such Notice of Sale, either as a whole, or in
<br /> separate lots or parcels or items as Trustee shall deem expedient,and in such order as ii may determine,
<br /> a�t public auction to the highest bidder for cash in lawful money of the United States payahle at the time
<br /> of sale. Trustee shall deliver to such purchaser or purchaserS thereof its good and sufficient deed or
<br /> deeds conveying the property so sold, but without any covenant or warranty,express or implied. The
<br /> recitals in such deed of any ma'tters or facts shall be conclusive proof of the truthfulness.thereof. Any
<br /> person,inciuding without limitation Trustor,Trustee,or Lender,may purchase at such safe..
<br /> fb) As may 6e permitted by law, after deducting all costs, fees and expenses of Trustee and of this
<br /> Trust,including costs of evidence of tltle in connection with sale,Trustee shali apply the proceeds of sale
<br /> to payment of (i1 all sums expended under the terms of this Deed of Trust or unoer the terms of the Note
<br /> not then repaid, including but not limited to accrued interest a�d late charges, iii) a!I other sums then
<br /> secured hereby,and (iii)the remainder,ifi any,to the person or persons legally entitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of aJl or any portion of the Rroperty.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> performance of any indebtedness or o6ligations secured by this Deed of Trust and Yo exercise all rights and powers
<br /> under this Deed of Trust, under the Note,under any of the Related Documents,or under any other agreement or
<br /> any laws now or hereafter in force;notwithstandmg;some or all of such indebtedness and obligations secured by
<br /> this�eed of Trust may now or hereafter be otherwise secured,whether by mortgage,deed of trust,pledge��,lien,
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