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201109369
<br /> � DEED OF TRIJST
<br /> Loan No: 10000733 (COntinued} Page 5
<br /> 6cisting Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is
<br /> not made within the time required by the promissory note evidencing such indebtedness,or a default occu�s under
<br /> . the instrument securing such indebtedness and is not cured during any applicable grace period in such instrument,
<br /> or any suit or other action is commenced to foreclose any ezisting lien on the Property.
<br /> Right to Cure. If any default,other than a default in payment is curable and if Trustor has not been given a notice
<br /> of a breach of the same provision of this Deed of Trust within the preceding twelve(12)months,it may be cured if
<br /> Trustor,after Lender sends written notice to Trustor demanding cure of such default: (1) cures the default within
<br /> twenty {ZO) days; or �2) if the cure requires more than twenty (20)�days, immediately initiates steps which
<br /> Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and
<br /> completes all reasonabie and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust,at any tfine thereafter,
<br /> Trustee or Lender may exercise any one or more of the follovaing rights and remedies:
<br /> Acceleretion Upon Default;Additional Remedies. If any Eveni 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 tfiereupon become due and payable without any presentment,demand,protest or notice of any
<br /> kind. Thereafter,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceeding, or by a reeeiver
<br /> �appointed by a court and without rega�d 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 value,marketability or rentability of the Proper[y,or part of
<br /> the Property or inte�est in the Property;increase the income from ihe Property or protect the security of
<br /> the Properiy; and, with or without taking possession of the Property, sue for or otherwise collect the
<br /> rents,issues and profits of the Property,induding those past due and unpaid,and apply the same, less
<br /> costs and expenses of operation�and collection attorneys'fiees,to apy inde6tedness 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, ihe collection of such rents,issues and profr[s, 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 sucl�notice of default;and,notwithstantling the continuance in possession of
<br /> the P�operty or the collection,receipt and application of rents,issues or profits,Trustee or Lender shall
<br /> be entiUed 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 the nght 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
<br /> enforce any of the covenants hereof;and
<br /> (c) Deliver to Trustee a written dedaration 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 Trusiee 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 Personal Property,Lender shall have ali the rights and remedies
<br /> of a secured p�arty under the Nebreska Uniform Commercial Code. � .
<br /> Foreclosure by Power of Sale. If Lender elects to foreclose by 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 sueh receipts
<br /> and evidence of expenditures made and secured by this�eed of Trust as Trustee may require.
<br /> (a] Upon receipt of such notice from Lender,Trustee shall cause to be recorded,published and delivered
<br /> to Trusmr 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, after such time as may then be required by law and after
<br /> reco�rdation of such Notice of Default and after Notice of Sale haviog been given as required by law,sell
<br /> the Properry 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 items as Trustee shall deem expedient,�and in such order as it may determine,
<br /> at public auc8ion 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, bui without any covenant or warranty, express or implied. The
<br /> recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
<br /> person,including without limitation Trustor,Trustee,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 this
<br /> Trust,inclutling cosis of evidence of title in connection with sale,Trustee shall apply the proceeds of sale
<br /> to payment of (i)all sums expended under the terms of this Deed of Trust or under the terms of the Note
<br /> . not then repaid, including but not limited to accrued interest and late charges, (ii) all other sums then
<br /> secured hereby,and (iii)the remainder,if any,to the person or persons legally entitled thereto.
<br /> (c1 Trustee may in the manner provided by la�nr postpone sale o#all.or any portion of the Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> performance of any indebtedness or obligations secured by this Deed of Trust and 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 laws now or hereafter in force;notwithstanding.,some or all of such indebtedness and obligations secured by
<br /> this Deed of Trust may pow or hereafter be otherwise secured,whether 6y mortgage,deed ofi trust,pledge,lien,
<br /> assignmeM or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement, whether by court
<br /> action or pursuant to the power of sale or oYher powers contained in this Deed of�Trust,shall prejudice or in any
<br /> manner affect Trustee's or Lender's right to realize upon or enforce any other security now or hereafter heid by
<br /> Trustee or Lender,it being agreed that Trustee and Lender,and each of them,shall 6e entitled to enforce this Deed
<br /> of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
<br /> either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or
<br /> Lender,is intended to t�e exclusive of any other remedy in this Deed of Trust or by law provided or permitted, but
<br /> each shall be cumulative and shail be in addition m every other remedy given in this Deed of Teust or now or
<br /> hereafter existing at law or in equity or by statute. Every power or remedy given by the Note or any of the RelatOd
<br /> Documents to Trusiee or Lender or to which either of them may be otherwise entitled, may be exercised,
<br /> concurrently or independently,from time io iime and as often.as may be deemetl expedient by Trustee or Lender,
<br /> . and either of them may pursue inconsistent remedies.� Nothing in this Deed of Trust shall be consVUed as
<br /> prohibiting Lender frorto seeking a deficiency judgment against the Trustor to the extent such action is permitted by
<br /> law.
<br /> � Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone� or
<br /> together. If Lender decides to spend money or to perform any of Trustor's obligations under this Deed of Trust,
<br /> after Trustor's faifure to do so,that decision by Lender will not affect Lender's right to declare Trustor in default
<br /> and to exercise Lender`s remedies.
<br /> Request for Notice. Trustor,on behalf of Trustor and Lender,hereby requests that a copy of any Notice of Default
<br /> and a copy of any Notice of Sale under this Deed of Trust be mailed to them at the addresses seY forth in the first
<br /> paragraph of this De2d oi Trust.
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