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201203930
<br />DEED OF TRUST
<br />(Continued) Page 2
<br />Trustor becomes liable for cleanup or other costs under any such laws, and (2) agrees to indemnify, defend, and
<br />hold hermless Lender ageinst any and all cleims and losses resulting from a breach of this paragraph of the Deed of
<br />Trust. This obligation to indemnify and defend shell survive the peyment of the Indebtedness and the satisfection
<br />of this Deed of Trust.
<br />Construction Loan. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct
<br />or complete construction of any Improvements on the Property, the Improvements shall be completed no leter than
<br />the maturity date of the Note (or such earlier date as Lender may reasonably establish) and Trustor shall pay in full
<br />all costs and expenses in connection with the work. Lender will disburse loan proceeds under such terms and
<br />conditions as Lender may deem reasonably necessary to insure that the interest created by thia Deed of Trust shell
<br />have priority over all possible liens, including those of material suppliers and workmen. Lender may require, among
<br />other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of liens,
<br />constructian progress reports, and such other documentation as Lender may reasonebly request.
<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 pert 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, beneficial or equitable; whether voluntary or involuntary;
<br />whether by outright sale, debd, installment sale contract, land contraCt, contrect for deed, leasehold interest with a
<br />term greater then three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in
<br />or to any land trust holding title to the Real Property, or by eny 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 relating to the taxes and liens on the Property are part of this Deed of
<br />Trust:
<br />Payment. Trustor shall pay when due land in all events prior to delinquency) all taxes, speciel taxes, assessments,
<br />cherges (including water and sewerl, fines end impositions levied against ar 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 meintain 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 otherwisa provided in this Deed of
<br />Trust.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of thia Deed of
<br />Trust.
<br />Maintenance of Insurence. Trustor shall procure and maintein policies of fire insurence with stendard extended
<br />coverage endorsements on a fair value besis for the full insurable value covering ell Improvements on the Real
<br />Properry in an amount sufficient to avoid application of any coinsurance clause, and with a stendard mortgagee
<br />clause in favor of Lender, together with such other hazard and liability insurance as Lender may reasonably require.
<br />Policies shall be written in form, amounts, covereges and basis reasonably acceptable to Lender and issued by a
<br />company or compenies reasonably accepteble to Lender. Trustor, upon request of Lender, will deliver to Lender
<br />from time ta time the policies or certificates of insurance in form setisfactory to Lender, including stipuletiona that
<br />coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Eech
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired
<br />in any way by any act, omission or defeult of Trustor or any other person. Should the Real Property be located in
<br />an area designeted by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br />Trustor egrees to obtain and maintain Federel Flood Insurance, if availeble, for the fult unpeid prfncipal balence of
<br />the loan and any prior liens on the �property securing the loan, up to the mex(mum policy limits set under the
<br />National Flood Insurance Program, or as otherwise required by Lender, and to meintain such insurance for the term
<br />of the loan.
<br />LENDER'S EXPENDITURES. If Trustor fails IA) to keep the Property free of all taxes, liens, security interests,
<br />encumbrances, and other claims, (B) to provide eny required insurance on the Property, or (C) to make repairs to the
<br />Property then Lender may do so. If any action or proceeding is commenced that would meterially affect Lender's
<br />interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any ection that Lender
<br />believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will
<br />then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment
<br />by Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on
<br />demand; (B) be added to the balance of the Note and be epponioned among and be payable with any installment
<br />payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of
<br />the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed
<br />of Trust:
<br />Title. Trustor werrants thet: (a) Trustor holds good and marketable title of record to the Property in fee simple,
<br />free and clear of all Iiens and encumbrances other then those set fortN in the Real Property description or in any
<br />title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection
<br />with this Deed of Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of
<br />Trust to Lender.
<br />Defense of Title. Subject to the exception in the peragraph above, Trustor warrants and will forever defend the
<br />title to the Property against the lawful claims of all persons.
<br />EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following
<br />happen:
<br />Payment Defeult. Trustor fails to make eny peyment when due under the Indebtedness.
<br />Break Other Promises. Trustor breaks any promise mede to Lender or fails to perform promptly at the time and
<br />strictly in the manner provided in this Deed of Trust or in any agreeMent related to this Deed of Trust.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this
<br />Deed of Trust, the Note or in any of the Related Documents.
<br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to meke any payment
<br />for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any part of
<br />Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the
<br />commencement of any proceeding under eny benkruptcy or insolvency laws by or against Trustor.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarentor, endorser, surety,
<br />or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or eccommodation parry
<br />dies or becomes incompetent, � or revokes or disputes the validity of, or liebility under, any Guaranty of the
<br />Indebtedness.
<br />Insecurity. Lender in good faith believes itself insecure.
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