|
20�200290
<br />DEED OF TRUST
<br />Loan No: 5863616932 (Continued) Page 3
<br />bond, reasonably saUsfactory to Lender, to protect Lender's interest.
<br />Duty to Protect Trustor agrees neither to abandon or leave unattended the Properly. Trustor shall do all other
<br />acts, in�addiUon to those acts set forth above in this secUon, which from the character 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 payable all 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, beneflcial or equitable; whether voluntary or involuntary;
<br />whether by outright sale, deed, installment sate contract, land contract, conVact for deed, leasehold interest with a
<br />term greater than three (3) years, lease-option conVact, or by sale, assignment, or trensfer of any beneflcial interest in
<br />or to any land trust holding UUe to the Real Property, or by any other method of conveyance of an interest in the Real
<br />Property. If any Trustor is a corporaUon, partnership or Iimited ifability company, Vansfer also includes any change in
<br />ownership of more than twenty-flve percent (25%) of the votlng stock, partnership interests or Bmited liability company
<br />interests, as the case may be, of such Trustor. However, this optlon shall not be exercised by Lender it such exercise
<br />is prohibited by federal law or by Nebraska law.
<br />TAXES AND LIENS. The following provisions relatlng to the taxes and liens on the Property are part of this Deed of
<br />Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to detinquency) all taxes, special taxes, assessments,
<br />charges (including water and sewer), fines and impas�ions 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 fumished 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 Ilen of taxes and assessments not due and except as othervvise provided in this Deed of
<br />Trust.
<br />Right to Corrt�t 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 I(en arises or
<br />is flted as a result of nonpayment, Trustar shall within ftfteen (15) days after the lien arises or, if a Ilen is flled,
<br />within flfteen (15) days after Trustor has noUce of the flling, secure the discharge of the lien, or if requested by
<br />Lender, deposft with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br />amount sufficfent to discharge the lien plus any costs and attomeys' fees, or other charges that could accrue as a
<br />result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall saUsfy
<br />any adverse judgment before enforcement against the Property. Trustor shall name Lender as an addidonal obligee
<br />under any surety bond fumished in the contest proceedings.
<br />Evidence of Payment Trustor shall upon demand fumish to Lender satlsfactory evidence of payment of the taxes
<br />or assessments and shall authorize the appropriate govemmental official to deliver to Lender at any time a written
<br />statement of the taxes and assessments against the Property.
<br />NoUce of ConstrucUon. Trustor shall notliy Lender at least flfteen (15) days before any work is commenc�d, any
<br />services are fumished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or
<br />other Ilen could be asserted on account of the work, services, or materfals. Trustor will upon request of Lender
<br />fumish to Lender advance assurances satisfactory to Lender that Trustor can and will pay the cost of such
<br />improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insu�ing the Property are a part of this Deed of
<br />Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended
<br />coverage endorsements on a replacement basis for the full fnsurable value covering all Improvements on the Real
<br />Properly in an amount sufficient to avoid applicatlon of any coinsurance clause, and with a standard mortgagee
<br />clause in favor of Lender. Trustor shall also procure and maintain comprehensive general liability insurance in such
<br />coverage amounts as Lender may request with Trustee and Lender be(ng named as additional insureds in such
<br />Iiability insurance policies. Additlonally, Trustor shall maintain such other insurance, including but not limfted to
<br />hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shatt be written in
<br />form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, witl deliver to Lender from Ume to time the
<br />policies or certificates of insurance in form satlsfactory to Lender, including stlpulations that coverages wfll not be
<br />cancelled or diminished without at least thirly (30) days prior written notice to Lender. Each insurance policy also
<br />shail include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act,
<br />omission or default of Trustor or any other person. Should the Real Property be located in an area desfgnated by
<br />the Director of the Federel Emergency Management Agency as a special flood hazard area, Trustor agrees to obtain
<br />and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of the loan and any prior
<br />Ifens on the property securing the loan, up to the maximum policy Iimits set under the National Flood Insurance
<br />Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan.
<br />Applicatlon of Proceeds. Trustor shall prompUy notify Lender of any loss or damage to the Property. Lender may
<br />make proof of loss if Trustor fails to do so within flfteen (15) days of the casualty. Whether or not Lender's
<br />security is impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance and apply
<br />
|