|
DEED OF TRUST
<br />Loan No: 7781263 (Continued) ���� Il O�� r� Page 2
<br />�J �11 A
<br />Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or
<br />to any other person. The representetions and warranties contained herein are based on Trustor's due diligence in
<br />investigating the Property for Hazardous Substances. Trustor hereby (1) releases end waives eny future claims
<br />against Lender for indemnity or contribution, in the event Trustor becomes liable for cleanup or other costs under
<br />any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and ell claims, losses,
<br />liabilities, damages, penalties, and expenses which Lende� may directly or indirectly sustain or suffer resulting from
<br />a breach of this section of the Deed of Trust or as e consequence of any use, generetion, manufacture, storage,
<br />disposel, release or threatened release accurring priar to Trustor's ownership or interest in the, Properry, whether or
<br />not the same was or should have been known to Trustor. The provisions of this section of the Deed of Trust,
<br />including the obligation to indemnify and defend, shall survive the payment of the Indebtedness and the satisfaction
<br />and reconveyance af the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest
<br />in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any
<br />stripping of or waste on or to the Property or any portion of the Property. �thout limiting the generelity of the
<br />foregoing, Trustor will not remove, or grant to any other party the right to remove, any timber, minerels (including
<br />oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from tha Real Property without
<br />Lender's prior arritten consent. As a condition to the removal of any Irnprovements, Lender mey require Trustor to
<br />make arrangements satisfactory to Lerider to replace such Improvements with Improvements of at least equal
<br />value. '
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all
<br />reasonable times to ettend to Lender's interests and to inspect the Real Property for purposes of Trustor's
<br />compliance with the terms and conditions of this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustar shall promptly comply with all laws, ordinances, and
<br />regulations, now or hereafter in effect, of all governmental authorities applicable to the use or occupancy of the
<br />Property. Trustor may contest in good faith any such law, ordinance, or regulatian and withhold complience during
<br />any proceeding, including appropriate appeals, so long es Trustor has notified Lender in writing prior to doing so
<br />and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may requlre
<br />Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shell do all other
<br />acts, in addition to those acts set forth ebove in this section, which from the cheracter and use of the Property are
<br />reasonably necessary to protect and preserve the Property.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and peyable alf'sums
<br />secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the
<br />Real Property, or any interest in the Real Property. A"sale or transfer" means the conveyance of Real Property or any
<br />right, title or interest in the Real Property; whether legal, beneficial or equitable; whether voluntery or irivoluntary;
<br />whether by outright sale, deed, installment sale contrect, land contrect, contract for deed, leasehold interest 'with a
<br />term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in
<br />or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real
<br />Property. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by
<br />Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of
<br />Trust:
<br />Payment. Trustnr shail pay wher-due (and in a(Levents �ri�r te delinquencyi all.taxes, special taxes, assessments,
<br />charges (including water and sewer►, fines and impositions levied against or on account of the Property, and shall
<br />pay when due all claims for work done on or for services rendered or material furnished to the Property. Trustor
<br />shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of
<br />Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of
<br />Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith
<br />dispute over the obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or
<br />is filed as a result of nonpayment, Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed,
<br />within fifteen (15) days after Trustor has notice of the filing, secure the discharge of the lien, or if r,�9uQSYed by
<br />Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br />amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges that could accrue as a
<br />result of a foreclosure or sale under the lien. In any contest, Trustor shall defenii itself and Lender and shall setisfy
<br />any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additionaP o6ligee
<br />under any surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes
<br />or assessments and shall authorize the appropriate governmental official to deliverto Lender at any tfine a written
<br />statement of the taxes and assessments egainst the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days before eny work is commenced, any
<br />services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or
<br />other lien could be asserted on eccount of the work, services, or materials. Trustor will upon request of Lender
<br />furnish to Lender advance assurances satisfactory to Lender that Trustor can and will pey the cost of such
<br />improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of
<br />Trust.
<br />Maintenance of Insurence. Trustor shall procure and maintain policies of fire insurance with standard extended
<br />coverage endorsements on a replacement basis for the full insureble value covering ell Improvementa on the Real
<br />Property in aii amount sufficient tr, avoid application of any coinsurence clause, and with a standard mortgegee
<br />clause in favor of Lender, together with such otHer hazard and liability insurance as Lender mey reasonably require.
<br />Policies shall be written in form, amounts, coverages and basis reasonebly acceptable to Lender end issued by a
<br />company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender
<br />from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that
<br />coverages will not be cancelled or diminished without at least ten (10► days prior written notice to Lender. Each
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired
<br />in any way by any act, omission or default of Trustor or eny other person. Should the Real Property be located in
<br />an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br />Trustor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of
<br />the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the
<br />National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurence for the term
<br />of the loan. ,
<br />
|