Laserfiche WebLink
I+ � � 9 1 <br />DEED OF TRUST <br />Loan No: 101249944 (Continued) <br />��1���13�i <br />Page 3 <br />or to any land trust holding title to the Real Property, or by any other method of conveyence of an interest in the Real <br />Property. However, this option shell 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 texes and liens on the Property are part of this Deed of <br />Trust: <br />Peyment. Trustor shall pay when due (end in all events prior to delinquency) all taxea, special taxes, assessmenta, <br />charges (including water and sewer), fines and impositions levied ageinst or on eccount of the Property, and shall <br />pay when due all claims for work done on or for services rendered or meteriel furnished to the Property. Trustor <br />shall maintein 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 essessments not due and except as othervvise provided in this Deed of <br />Trust. <br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with e good faith <br />dispute over the obligation to pay, so long es Lender's interest in the Property is not jeopardized. If a lien erises or <br />is filed as e result of nonpeyment, Trustor shail within fifteen (1 b) days after the Ilen arises or, if a lien is filed, <br />within fifteen (15) deys after Trustor hes notice of the flling, secure the discharge of the lien, or if requested by <br />Lender, deposit with Lender cesh or e sufficient corporate surety bond or other security satisfactory to Lender in an <br />amount sufficient to discharge the lien plus any costs and ettorneys' fees, or other cherges thet could accrue as a <br />result of a foreclosure or sale under the Ilen. In any contest, Trustor ahell defend itself and Lender and shall satisfy <br />any adverse judgment before enforcement against the Proparty. Trustor shall name Lender as en additional obligee <br />under eny surety bond furnished in the contest proceedings. <br />Evidence of Peyment. 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 deliver to Lender et any time a written <br />statement of the texes and essessments against 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 eny materials are supplied to the Property, if any mechanic's lien, meterielmen's lien, or <br />other lien could be asserted on account of the work, services, or materiels. Trustor will upon request of Lender <br />furnish to Lender advance assurences setisfectory 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 e part of this Deed of <br />Trust. <br />Maintenanca of Insurance. Trustor shall procure and maintain policies of fire insurence with stendard extended <br />coverege endoraements on e fair velue besis for the full insurable velue covering ell Improvements on the Real <br />Property in an amount sufficient to avoid applicetion of eny coinsurance ctause, and with a standard mortgegee <br />clause in favor of Lender. Trustor shall also pracure 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 />liability insurence policies. Additionally, Trustor shall maintain such other lnsurance, including but not limited to <br />hezard, business interruption, and boiler insurance, as Lender may reasonably require. PoOcies shell be written in <br />form, amounts, covereges and basis reasonably accepteble to Lender and issued by a compeny or compenies <br />reasonably ecceptable to Lender. Trustor, upon request of Lender, will dellver to Lender from time to time the <br />policies or certificates of insurance in form satlsfactory to Lender, including stipulations that coverages will not be <br />cancelled or diminished without at least ten (10) days prior written notice to Lender. Eech insurance policy elso <br />shall include an endorsement providing thet coverage in fevor of Lender will not be impeired in eny way by any ect, <br />omission or default of Trustor or any other person. Should the Reel Property be located in an area designated by <br />the Director of the Federal Emergency Manegement Agency as a special flood hazerd area, Trustor egrees to obtain <br />and maintein Federel Flood Insurance, if available, for the full unpeid principel belance of the loan and any prior <br />liens on the property securing the loen, up to the meximum policy limits set under the National Flood Insurence <br />Program, or as othervvise required by Lender, and to maintain such insurance for the term of the loen. <br />Apptication of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Properry. Lender may <br />meke proof of loss if Trustor fails to do so within fifteen (1 b) days of the casualty. Whether or not Lender's <br />security is impaired, Lender may, et Lender's election, receive and retain the proceeds of any insurance and epply <br />the proceeds to the reduction of the Indebtedness, payment of eny Uen affecting the Property, or the restoretion <br />end repair of the Property. If Lender elects to apply the proceeds to restoration end repeir, Trustor shall repeir or <br />replace the damaged or destroyed Improvements in a manner sstisfactory to Lender. Lender shall, upon <br />satisfactory proof of such expenditure, pey or reimburse Trustor from the proceeds for the reasonable cost of <br />repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been <br />dtsbursed within 180 days after their receipt end which Lender has not committed to the repair or restoretion of <br />the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued <br />interest, and the remainder, if eny, shall be applied to the principel balance of the Indebtedness. If Lender holds <br />any proceeds efter payment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's <br />interests may eppear. <br />Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is <br />in effect, compliance with the insurance provisions conteined in the instrument evidencing such Existing <br />