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' ' ` ° � �' � � � '�' DEED OF TRUST 2 p 12 0 3 9 � �
<br />Loan No: 101252809 (Continued) Page 3
<br />or to any 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 federal law or by
<br />Nebraska lew.
<br />TAXES AND LIENS. The following provisions releting to the taxes and liens on the Property are pert of this Deed of
<br />Trust:
<br />Paymerrt. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments,
<br />charges (including water and sewerl, fines end impositions levied against or on account of tha 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 />shell maintain the Property free ot all liens heving priority over or equal to the interest of Lender under this Deed of
<br />Trust, except for the lien of texes and assessments not due and except as otherwise provided in this Deed of
<br />Trust.
<br />R18ht to Corrtest. Trustor mey withhold peyment ot any tax, assessment, or claim in connection with a good fsith
<br />dispute over the obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien erises or
<br />is filed as e result of nonpayment, Trustor shall within fifteen (7 5) days after the lien arises or, if a lien is filed,
<br />within fifteen (15) days after 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 charges that could accrue es e
<br />result of a foreclosure or sale under the lien. In eny contest, Trustor shall defend itself and Lender and shell satisfy
<br />any edverse judgment before enforcement egainst the Property. Trustor shall name Lender as an additionel obligee
<br />under any surety bond furnished in the contest proceedings.
<br />Evldence of Paymerrt. Trustor shall upon demand furnish to Lender satisfactory evidence of peyment of the texes
<br />or assessments and shall authorize the appropriate governmentel 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 et least fifteen (15) days before any work is commenced, any
<br />services are furnished, or any materials ere supplied to the Property, if any mechanic's lien, meterialmen'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 assurences setisfactory to Lender that Trustor cen and will pay the cost of such
<br />improvements.
<br />PROPERTY DAMAOE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of
<br />Trust.
<br />Meintenance of Insurance. Trustor shall procure end maintain policies of fire insurance with standerd eMended
<br />coverage endorsements on e fair value besis for the full insurable value covering all Improvements on the Real
<br />Property in an amount sufficient to avoid epplication of any coinsurance clause, and with a standard mortgegee
<br />clause in favor of Lender, together with such other hezard and liability insurance as Lender may reasonably require.
<br />Policies shall be written in form, emounts, coverages and basis reasonably acceptable to Lender and issued by a
<br />company or companies reasonably ecceptable to Lender. Trustor, upon request of Lender, will deliver to Lender
<br />from time to time the policies or certificates of insurance in form satisfactory to Lender, inctuding stipuletions 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 fevor of Lender will not be impeired
<br />in any way by any act, omission or default of Trustor or any other person. Should the Real Property be located in
<br />en area designated by the Director of the Federal Emergency Management Agency as a special flood hazerd erea,
<br />Trustor agrees to obtain and maintein Federal Flood Insurance, if available, for the full unpaid principal belance of
<br />the loen and any prior liens on the property securing the loan, up to the maximum policy limits set under the
<br />Netional Flood Insurence Program, or as otherwise required by Lender, and to meintain such insurence for the term
<br />of the loen.
<br />Applicatlon of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br />mske 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 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 Property. If Lender etects to apply the proceeds to restoration and repair, Trustor shall repeir or
<br />replace the damaged or destroyed Improvements in a manner setisfactory to Lender. Lender shall, upon
<br />setisfactory 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 and which Lender has not committed to the repair or restoration of
<br />the Property shall be used first to pay eny emount owing to Lender under this Deed of Trust, then to pey 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 payment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br />interests may appear.
<br />LEIVDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes, liens, security interests,
<br />encumbrences, 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 materially affect Lender's
<br />interests in the Property, then Lender on Trustor's behalf may, but is not required to, take eny action that Lender
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