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03-70-�998 DEED OF TRUST Page 4
<br /> Loan No 673673 (Continued) 98- 1�3091
<br /> � of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this
<br /> Deed of Trust.
<br /> Further Assurances. At any time, and irom time to time, upon request o(Lender,Trustor wili make, execute and deliver, or will cause to be
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
<br /> rerecorded,as the case may be, at such times and in such offices and places as Lender may deem appropriate,eny and all such mo�tgages,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuation statements,instruments of further assurance,certificates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or
<br /> preserve (a)the obligaiions of Trustor under the Note,ihis Deed of Trust,and the Related Documents,and (b)the liens and security interesis
<br /> created by this Deed of Trust as flrst and prior liens on the Property,whether now owned or hereafler acquired by Trustor. Unless prohibited by
<br /> law or agreed to the contrary by Lender in writing,Trustor shall reimburse Lender for ali cosis and expenses incuRed in connectlon with the
<br /> matters refeRed to in this paragraph.
<br /> Attorney-In-Fect. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and fn the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby inevocably appoints Lender as Trustor's attorney-in-fact for the purpose
<br /> of making, executing, delivering, 81ing, recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to
<br /> accomplish the matters referred to in ihe preceding paragraph.
<br /> FULL PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the obligations imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable
<br /> statements of iermination ot any 8nancing statement on file evidencfng Lender's security interest in the Rents and the Personal Property. Any
<br /> reconveyance fee required by law shall be paid by Trustor,if permitted by applicable law.
<br /> DEFAIILT. Each of the following,at the option of Lender,shall constitute an event of default("Event of Default")under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Trustor to make any payment when due on ihe Indebtedness.
<br /> Default on Other Paymenis. Failure of Trustor wiihin ihe time required by this Deed of Trust to make any payment for taxes or insurance, or
<br /> any other payment necessary to prevent filing of or to effect discharge o(any lien.
<br /> Compllance Default. Failure of Trustor to comply with any olher term, obligation, covenant or condition conlained in this Deed of Trust, the
<br /> Note or in any of the Related Documents.
<br /> False Statements. Any warranty,representation or statement made or furnished to Lender by or on behalf of Trustor under this Deed of Trust,
<br /> the Note or the Related Documents is false or misleading in any material respect,either now or at the!ime made or furnished.
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any part of Trustor's property, any
<br /> assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or
<br /> insolvency laws by or against Trustor.
<br /> Foreclosure,Forfeiture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency against any o(the Property. However,this subsection shall not
<br /> apply in the event of a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of the foreclosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender wriflen notice of such claim and furnishes reserves'or a surety bond for the claim
<br /> satisiactory to Lender.
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not remedied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obligation of Trustor
<br /> to Lender,whether existing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes incompetent, or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness. Lender,at its option,
<br /> may, but shall not be required to, permit the Guarantor's estate to assume unconditionally the obligations arising under the guaranty in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event of Default.
<br /> Insecurity. Lender in good faith deems itself insecure.
<br /> Right to Cure. If such a failure is curable and if Trustor has �ot been given a notice of a breach of the same provision of this Deed of Trust
<br /> within ihe preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) if Trustor, affer Lender sends written
<br /> nolice demanding cure of such failure: (a)cures the failure within ten(10)days;or (b)if the cure requires more than ten(10)days,immediately
<br /> initiates steps sufficient to cure the failure and lhereafter coniinues and completes all reasonable and necessary steps sufficient to produce
<br /> compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAIJLT. Upon the occurrence of any Event of Default and at any time thereaHer,Trustee or Lender,at its option,
<br /> may exercise any one or more of fhe following rights and remedies,in addition to any other rights or remedies provided by law:
<br /> Accelerailon upon Default; Additional Remedies. If any event of default occurs as per the terms of the Note secured hereby, Lender may
<br /> declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without
<br /> any preseniment,demand,protest or notice of any kind. Thereafter,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without
<br /> regard to the adequacy of its security,enter upon and take possession of the Property,or any part thereof,in its own name or in the name
<br /> of Trustee,and do any acts which it deems necessary or desirable to preserve the value,marketability or rentability of the Properly,or parf
<br /> of the Property or interest in the Property;increase the income(rom ihe Property or protect the security of the Property;and,with or without
<br /> taking possession of the Prope�ty,sue for or otherwise collect 1he rents, issues and profits of the Property, including those past due and
<br /> unpaid, and apply the same,less costs and expenses of operation and collection,including attorneys'fees, to any indebtedness secured
<br /> by this Deed of Trust,all in such order as Lender may determine. The entering upon and taking possession of the Property,the collection
<br /> ot such rents,issues and profits,and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust
<br /> or invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the continuanCe in
<br /> possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall be entitled to
<br /> exercise every right provided for in the Note or the Related Documents or by law upon the occurrence of any event of default,including the
<br /> right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the covenants
<br /> hereof;and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of defauit and election to cause Trustor's
<br /> interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the appropriate offices of 1he County in
<br /> 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 of a secured party under the
<br /> Nebraska Uniform Commercial Code.
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose by exercise of the Power of Sale herein contained,Lender shall notify Trustee and
<br /> shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured by this Deed of
<br /> Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause to be recorded,published and delivered to Trustor such Notice of Default
<br /> and Notice of Sale as then required by law and by ihis Deed of Trust. Trustee shall, without demand on Trustor, afler such time as may
<br /> then be required by law and aHer recordatipn of such Notice of Default and after Notice of Sale having been given as required by law,sell
<br /> the Property at the time and place of sale fixed by it in such Notice of Sale, eilher as a whole, or in separate lots or parcels or iiems as
<br /> Trustee shall deem expedient,and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of
<br /> fhe United States payable at the time o(sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or
<br /> deeds conveying the prope�ty so sold,but without any covenant or warranty,express or implied. The recitals in such deed of any matters
<br /> or facts shall be conclusive proof of ihe truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br /> purchase at such sale.
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