|
. � � � �� 201202105
<br />DEED OF TRUST
<br />Loan No: 101250646 (Continued)
<br />Page 3
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, et 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 pert of the
<br />Real Property, or any interest in the Real Property. A"sele or transfer" means the conveyence of Reel Property or any
<br />right, title or interest in the Real Property; whether legal, beneficiel or equitable; whether voluntery or involuntary;
<br />whether by outright sele, deed, installment sele contrect, land contract, contrect for deed, leasehold interest with e
<br />term greater then three (3) years, lease-option contract, or by sale, essignment, or transfer of any beneflciel interest in
<br />or to any land t�ust 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 releting to the texes and liens on the Property ere part of this Deed of
<br />Trust:
<br />Payment. Trustor shall pay when due (and in all eventa prior to delinquency) all texes, special taxes, assessments,
<br />charges lincluding water and sewer), fines end impositions levied against or on account of the Property, end 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 Contast. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith
<br />dispute over the obligation to pey, so long as Lender's interest in the Property is not jeopardized. If a Ilen arises or
<br />is filed es a result of nonpayment, Trustor ahell within fifteen (15) days efter the Ilen erises or, if a Ifen is filed,
<br />within fifteen (15) days efter Trustor has notice of the filing, secure the discharga of the lien, or if requested by
<br />Lender, deposit with Lender cash or a sufficient corporate surety bond or other security setisfactory to Lender in en
<br />emount sufficient to dfscharge the lien plus eny costs and attorneys' fees, or other charges that could accrue as e
<br />result of a foreclosure or sale under the Ilen. In any contest, Trustor shall defend itself end Lender and shell satisfy
<br />any edverse judgment before enforcement egainst the Property. Trustor shall neme Lender as en additional obligee
<br />under any surety bond furnished in the conteat proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of peyment of the taxes
<br />or essessments and shall authorize the appropriate governmental officiel to deliver to Lender at any time a written
<br />statement of the texes and essessments egafnst the Property.
<br />Notice of Construction. Trustor shell notify Lender et least fifteen (15) days before any work is commenced, any
<br />services ere furnished, or any materials are supplied to the Property, if eny mechanic's lien, meterielmen's lien, or
<br />other lien could be esserted on eccount of the work, services, or materials. Trustor will upon request of Lender
<br />furnish to Lender edvance essurances satisfactory to Lender that Trustor can and will pay 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 procura and maintein policies of fire insurance with standard extended
<br />coverage endorsements on a feir value basis for the full insurable value covering ell Improvements on the Real
<br />Property in en amount sufficient to avoid application of any coinsurence clause, and with a stendard mortgegee
<br />clause in favor of Lender. Trustor shall also procure end maintain comprehensive general liebility insurance in such
<br />coverage amounts as Lender may request with Trustee and Lender being named es edditional insureds in such
<br />liebility insurence policies. Additionally, Trustor shall maintain such other insurance, including but not limited to
<br />hezerd, business interruption, and boiler insurance, es Lender may reasonebly require. Policies shall be written in
<br />form, amounts, coveragea and basis reasonably ecceptable to Lender end issued by e company or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the
<br />policies or certificates of insurance in form satisfactory to Lender, including stipulations thet coverages will not be
<br />cancelled or diminished without at least ten (10) days prior written notice to Lender. Each insurance policy elso
<br />shall include en endorsement providing thet coverege in favor of Lender will not be impaired in eny wey by eny act,
<br />omission or default of Trustor or any other person. Should the Real Property be located in en area designated by
<br />the Director of the Federal Emergency Management Agency as a special flood hezard area, Trustor agrees to obtain
<br />and maintain Federal Flood Insurance, if availabte, for the full unpeid principal balance of the loen and any prior
<br />liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance
<br />Program, or as otherwise required by Lender, and to maintafn such insurance for the term of the loan.
<br />Applicatlon of Proceeds. Trustor shall promptly notify Lender of eny loss or damage to the Property. Lender mey
<br />make proof of loss if Trustor fails to do so within fifteen (1 b) deys 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 />the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration
<br />and repair of the Properry. If Lender elects to apply the proceeds to restoretion and repair, Trustor shall repair or
<br />replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of
<br />repeir or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been
<br />disbursed wfthin 180 days after their recefpt and which Lender has not committed to the repair or restoration of
<br />the Property shall be used first to pey any amount owing to Lender under this Deed of Trust, then to pay accrued
<br />
|