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201109047
<br /> DEED OF TRUST
<br /> Loan No: 810277 (Continued) Page 5
<br /> any material respect, either now or at the time made or furnished or becomes fafse or misleading at any time
<br /> thereafter.
<br /> Defective Collateralization. This 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 ofi Borrower's or Trustor's existence as a going business,the insolvency
<br /> of Borrower or Trustor, the appointmen[ o# a reeeiver for any part of Borrower's or Trustor's praperty, any
<br /> assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding
<br /> under any bankruptcy or insolvency laws by or against Borrower or�Trustor.
<br /> Gred"ROr or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judi�cial .
<br /> proceeding, self-help, repossession or any other method, by any creditor of Borrower�or Trustor or by any
<br /> governmental agency against any pwperty securing the Inde6tedness. This includes a garnishment of any of
<br /> Borrower's or Trustor's accounts, including deposit accounts,with Lender. However,this Event of Default shali
<br /> not appiy ifi there is a good faith.dispute by Borrower or Trustor as to the validity or reasonableness of the daim .
<br /> which is the basis of the creditor or forfeiture proceeding and if Borrower or Trustor gives Lender written notice of
<br /> the creditor or forfeiture proceeding and deposits uiith Lender monies or a surety bond for the creditor or forfeiiure
<br /> proceeding,in an amount determined 6y Lender,in its sole discretion,as 6eing an adequate reserve or bond for the
<br /> dispute.
<br /> Breach.of Other Agreement. Any 6reach 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,.inciuding without�
<br /> Iimitation any agreement conceming any indebtedness or other obligation 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 Indebtedn0ss or any guarantor,endorser,surety, or accommodation party
<br /> dies or becomes inwmpetent, or revokes or disputes the validity ofi, or liability under, any Guaranty ofi the
<br /> Indebtedness. .
<br /> Adverse Change. A material adverse change occurs in Borrower's or Trustor's financial condition, or Lender
<br /> believes the prospect of payment o�performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes ftself insecure. �
<br /> RIGHTS AND REMEDIES ON�EFAULT. If an Event of Default occurs under 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:Additional Reinedies. If any Event 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 Yheteupon become due and payable withaut any presentment,demand,protest or notice of any
<br /> kind. Thereafter,Lender may:
<br /> (a) Either iri 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 tal<e possession
<br /> of the Propertp,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 value,marketability or rentabillty of the Properry,or part of
<br /> the Property or interest in the Property;increase the income from the Property or protect the security of
<br /> the Property; and, with or without taking possession of the Property, sue for or otherwise eollect the �
<br /> rents,issues and profits of the Peoperty,including those past due and unpaid,and apply the same, less
<br /> costs and expenses of operation and coflection attor�eys'fees,to any indebtedness secured by this Deed
<br /> of Trust, all in such order as Lender may detErmine. The entering upon and taking possession of the
<br /> Property, the collection of such rents, issues and profits, and the application thereof shall not cure or
<br /> waive any defauit or notice ofi 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 tlie collection, receipt and application of rents,issues or profits,Trustee or Lender shall
<br /> be entitled to exercise every right provided for in Yhe Note or the Related Documents or by law upon the
<br /> occurrence of any event of default,induding the right to exercise fhe power of sale�
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage,appoint a receiver or specifically
<br /> enforce any of the covenants 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 soid,which notice Trustee shall cause to be �
<br /> duly filed 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 Pers�onai Property,Lender shall have all the rights and remedies
<br /> of a secured party under the Nebraska Uniform�ommercial Code.
<br /> Foreclosure tiy Power af Sale. ff Lender elects to foreclose by exercise of the Power of Sale herein contained,
<br /> Lender shall noYify Trustee and shall deposit with Trustee this�eed of Trust and�[he Note and such receipts
<br /> - and evide�ce of expenditures made and secured by this Deed of Trust as Trustee may tequire.
<br /> (a} Upon receipt of such notice from Le�der,Trustee shall cause to be rewrded,published and delivered
<br /> to Trustor such Notice of Default and Notice o#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 Default and afi[er Notice of Sale having been giveo as required by law,sell
<br /> the Proper[y at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in
<br /> separate lots or parcels or iYems as Trustee shall deem expedient,and in such order as it may determine,
<br /> at public auction to the highest bidder for cash in lawful money of the United States payable 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,ezpress or implied. The
<br /> . recitals in such deed of any matters or facts shall be condusive proof of the truthfulness thereof. Any
<br /> person,induding without limitation Trustor,Trustee,or Lender,may purchase at sucn sale. �
<br /> (b) As may be permitted by law, aiter deducting all costs, fees and expenses of Trustee and of this
<br /> Trust,induding costs of evidence of title in connection with sale,Trustee shall apply the proceeds of sale
<br /> to payment o# (i)all sums expended under the terms of this Deed of Trust or under the terms of the Note
<br /> � not then repaid, incl.uding but not limited to accrued interest and late charges� (ii) all other sums then
<br /> secured hereby,and (iii)the remeinder,if any,to the person or persons legally 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 ezch of them,. shall be entitled to enforce payment and
<br /> performance of any indebtedness orobligations secured by this Deed of Trust aod to 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 faws now or hereafter in force;notwithstanding,some or all of such indebtedness and obligations secured by
<br /> this Deed of Trust may now or hereai�er be otherwise secured.,whether by mortgage,deed of trust,pledge,lien,
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