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� " �. � ' � '� >' ' DEED OF TRUST `� O 1,`� O 3 � O �i
<br />Loan No: 701251582 (Continued) Pege 3
<br />Property. However, this option shall not be exercised by Lender if such exercise la prohibited by federal law or by
<br />Nebraske law.
<br />TAXES AND LIENS. The following provisions relating to the taxes end Ilens on the Property ere part of this Deed of
<br />Trust:
<br />PaymeM. Trustor shell pay when due (and in all events prior to delinquency) all taxea, special taxes, essessments,
<br />cherges (including water and sewer), fines end impositions levied egeinst or on account of the Property, and shell
<br />pey when due all claims for work done on or for services rendered or materiat furnished to the Property. Trustor
<br />shall maintain the Property free of ell 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 end except es otherwise provided in thls Deed of
<br />Trust.
<br />Right to Contest. Trustor mey withhold payment of any tax, assessment, or claim fn connection with a good falth
<br />dispute over the obligation to pey, so long as Lender's interest in the Property is not jeoperdized. If a Uen arises or
<br />is filed as e result of nonpeyment, Trustor shall within fffteen (16) days after the flen ariaes or, if a lien ia filed,
<br />within fifteen (15) days efter Trustor has notice of the filing, secure the discharge of the lien, 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 any costs and attorneys' fees, or other cherges that could accrue as a
<br />result of a foreclosure or aele under the lien. In any contest, Trustor shell defend itself and Lender end shall satisfy
<br />any edverse judgment before enforcement egainst the Property. Trustor shall name Lender as en additionel obligee
<br />under any surety bond furnished in the contest proceedings.
<br />Evidenca of Peyment. Trustor shell upon demand furnish to Lender satisfactory evidence of peyment of the taxes
<br />or essessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written
<br />statement of the texes and assessments against the Properry.
<br />Notice of Construction. Trustor shell notify Lender at least flfteen (16) deys before eny work is commenced, any
<br />services are furnished, or eny materials are supplied 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 advance essurances satisfactory to Lender that Trustor cen and will pay the cost of such
<br />improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions releting to (nsuring the Property are a part of this Deed of
<br />Trust.
<br />MeiMena�ce of Insurance. Trustor shall procure end maintain policies of fire insurance with standard extended
<br />coverage endorsements on e fair velue basis for the full insurable value covering ell Improvements on the Real
<br />Property in an emount sufficient to avoid application of any coinsurance cleuae, and with a standard mortgagee
<br />clause in favor of Lender. Trustor shell also procure and maintein comprehensive generel liability insurance in such
<br />coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such
<br />liability insurance policies. Additionally, Trustor shall maintain such other insurance, including but not Iimited to
<br />hazerd, business interruption, and boiler inaurance, as Lender may reasonably require. Policies shell be written in
<br />form, amounts, coverages and basis reasonebly acceptable to Lender and issued by a compeny or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the
<br />policies or certificetes of insurance in form setisfactory to Lender, including stipulet(ons that coverages will not be
<br />cancelled or diminished without et least ten (10) deys prior written notice to Lender. Each insurance poUcy also
<br />shall include an endorsement providing thet coverage in favor of Lender will not be impaired in eny wey by eny act,
<br />omission or defeult of Trustor or any other person. Should the Reel Property be located in en erea designated by
<br />the Director of the Federal Emergency Management Agency es a special flood hezerd erea, Trustor agreea to obtain
<br />and meintain Federal Flood Insurence, if aveilable, for the full unpeid principel balance of the loan and any prior
<br />liens on the property 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 maintain such insurance for the term of the loen.
<br />Appl(cation of Proceeds. Trustor shall promptly notify Lender ot any loss or damage to the Property. Lender may
<br />meke 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, at Lender's election, receive and retain the proceeds of any inaurance and apply
<br />the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoretion
<br />end repair of the Property. If Lender elects to apply the proceeds to restoration end repair, Trustor shell repeir or
<br />replace the damaged or destroyed Improvements in a menner 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 resioretion if Trustor is not in defeult under this Deed of Trust. Any proceeds which have not been
<br />disbursed withfn 180 days after their receipt and which Lender has not committed to the repair or restoration of
<br />the Property shall be used flrst to pay eny emount owing to Lender under this Deed of Trust, then to pay eccrued
<br />interest, and the remeinder, if any, shall be applied to the principal balance of the Indebtedneas. If Lender holds
<br />any proceeds after payment in full of the Indebtedness, such proceeds shell 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 conteined in the instrument evidencing such Existing
<br />Indebtedness shall constitute compliance with the insurance provisions under thia Deed of Trust, to the extent
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