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- ,: '� � DEED OF TRUST 2 01 � 0 2 6 3�
<br />Loan No: 107251513 (Continued) Page 3
<br />or to eny 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 federel 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. Trustor shall pay when due (and in all events prior to delinquency) 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 Praperty. Trustor
<br />shall maintain the Property free of all liens having prfority over or equal to the interest of Lender under this Deed of
<br />Trust, except for the lien of taxes end essessments not due and except as otherwise provided in this Deed of
<br />Trust.
<br />Right to Contest. Trustor may withhold peyment of any tex, essessment, or claim in connection with e good faith
<br />dispute over the obligation to pay, so long as Lender's interest fn the Property is not jeopardized. If a lien arises or
<br />is filed as a result of nonpayment, Trustor shall within fifteen (16) days after the Ilen arises or, if a lien is filed,
<br />within fifteen (15) days after Trustor has notice of the filing, secure the discharge of the flen, or if requested 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 eny coats and attorneys' fees, or other charges that could accrue es a
<br />result of e foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall satisfy
<br />any adverse judgment before enforcement against the Property. Trustor shall neme Lender as an additional obligee
<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 deliver to Lender at any time a written
<br />statement of the taxes and assessments against the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, any
<br />services are furnished, or any materials are supplfed to the Property, if any mechanic's lien, materialmen's lien, or
<br />other lien could be asserted on account of the work, services, or materials. Trustor will upon request of Lender
<br />furnish to Lender edvence 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 insuring 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 fair value basis for the full insurable value covering all Improvements on the Real
<br />Property in an emount sufficient to avoid applicetion of eny coinsurence clause, and with a standard mortgagee
<br />clause in fevor of Lender. Trustor shell also procure and maintain comprehensive general liability insurence in such
<br />coverage amounts as Lender may request with Trustee and Lender being named as additionel insureds in such
<br />liability insurance policies. Additionally, Trustor shall maintain such other insurance, including but not limited to
<br />haaard, business interruption, and boiler insurence, as Lender mey reasonably require. Policies shall be written in
<br />form, amounts, coverages and basis reasonably ecceptable to Lender and issued by a compeny or companies
<br />reasonably acceptable to Lander. 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 that coverages will not be
<br />cencelled or diminished without at least ten (10) deys prior written notice to Lender. Eech insurance policy also
<br />shell 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 designated 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 unpefd principal balence of the loan and any prior
<br />liens on the properry securing the loen, up to the maximum policy limits set under the National Flood Insurance
<br />Program, or as otherwise required by Lender, and to mafntefn such insurence for the term of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of eny loss or damage to the Property. Lender may
<br />make proof of loss if Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's
<br />security is impaired, Lender may, et Lender's election, receive end retein the proceeds of any insurance and apply
<br />the proceeds to the reduction of the Indebtedness, payment of eny lien affecting the Property, or the restoration
<br />and repair of the Property. If Lender elects to apply the proceeds to restoration 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 />repair or restoretion if Trustor is not in default under this Deed of Trust. Any proceeds which have not been
<br />disbursed within 180 days after their receipt end which Lender has not committed to the repair or restoration 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 any, shall be applied to the principal balance of the Indebtedness. If Lender holds
<br />any proceeds after peyment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br />interests may appear.
<br />Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is
<br />in effect, compliance with the insurance provisions contained in the instrument evidencing such Existing
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