|
20i2�40��
<br />DEED OF TRUST
<br />Loan No: 11093393 (Co11t111ued) Page 2
<br />to any other person. The representations and warranttes contained heretn are based on Trustor's due diligence in
<br />investigating the Property for Hazardous Substances. Trustor hereby (1) releases and waives any future claims
<br />against Lender for indemnity or contribuUon in the event Trustor becomes liable for cleanup or other costs under
<br />any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all claims, losses,
<br />liabilities, damages, penaRies, and expenses which Lender may directly or indirecUy sustain or suffer resulting from
<br />a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage,
<br />disposal, release or threatened release occurring prior to Trustors ownership or interest in the Property, whether or
<br />not the same was or should have been known to Trustor. The provisions of this section of the Deed of Trust,
<br />including the obligaUon to indemnify and defend, shall survive the payment of the Indebtedness and the saUsfaction
<br />and reconveyance of the Ifen of this Deed of Trust and shall not be affected by LendePs acquisition of any interest
<br />in the Property, whether by foreclosure or othervvise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nufsance nor commit, pertnit, or suffer any
<br />stripping of or waste on or to the Property or any portion of the Property. Without IimiUng the generality of the
<br />foregoing, Trustor wltl not remove, or grant to any other party the right to remove, any Umber, minerals (including
<br />oil and gas), coal, clay, scoria, soil, gravet or rock products without Lender's prlorwritten consent
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without
<br />Lenders prior written consent. As a condition to the removal of any Improvements, Lender may require Trustor to
<br />make arrangements satisfactory to Lender to replace such Improvements with Improvements of at least equal
<br />value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all
<br />reasonable times to attend to Lender's interests and to (nspect the Real Property for purposes of Trustor's
<br />compliance with the terms and conditions of this Deed of Trust.
<br />Compliance with Govemmental Requirements. Trustor shall prompUy comply wlth all laws, ordinances, and
<br />regulaUons, now or hereafter in effect, of all govemmental authoriUes applicable to the use or occupancy of the
<br />Property. Trustor may contest in good faith any such law, ordinance, or regulation and withhold compliance during
<br />any proceeding, including appropriate appeals, so long as Trustor has notffled Lender in writing prior to doing so
<br />and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require
<br />Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest
<br />Duty to Protect. Trustor agrees nefther to abandon or leave unattended the Property. Trustor shall do all other
<br />acts, in addition to those acts set forth above in this section, which from the character and use of the Property are
<br />reasonably necessary to protect and preserve the Property.
<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 LendePs prior written consent, of all or any part 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 ouMght sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a
<br />term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneflcial interest in
<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 optlon shall not be exercised by Lender if such exercise is prohibfted 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 (and in alt events prior to delinquency) all taxes, special taxes, assessments,
<br />charges (including water and sewer), flnes and imposftions 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 fumished to the Property. Trustor
<br />shall maintain the Properly free of all Ilens 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, except for the Existing Indebtedness referred to
<br />below, and except as othervvise provided in this Deed of Trust.
<br />Right to Contest Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith
<br />dispute over the obligation to pay, so long as Lender's interest in the Properly is not jeopardized. If a Ifen arises or
<br />is filed as a result of nonpayment, Trustor shall within fifteen (15) days after the lien arises or, if a Ifen is filed,
<br />within fifteen (15) days after Trustor has notice of the flling, 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 attomeys' fees, or other charges that could accrue as a
<br />result of a foreclosure or sale under the Ilen. In any contest, Trustor shall defend itself and Lender and shall satisfy
<br />any adverse judgment before enforcement against the Property. Trustor shalt name Lender as an additional obligee
<br />under any surety bond fumfshed in the contest proceedings.
<br />Evidence of Payment Trustor shall upon demand fumfsh to Lender satisfactory evidence of payment of the taxes
<br />or assessments and shalt authorize the appropriate govemmental 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 supplied to the Property, if any mechanic's lien, materialmen's Ilen, or
<br />other lien could be asserted on account of the work, services, or materials. Trustor will upon request of Lender
<br />fumish to Lender advance 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 ot 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 replacement basis for the full insurable value covering all Improvements pn the Real
<br />Property in an amount suTficient to avoid application of any coinsurance clause, and wlth a standard 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 (n form, amounts, coverages and basis reasonably acceptable to Lende� and issued by a
<br />company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender
<br />from time to time the policies or certiflcates of insurance in form satisfactory to Lender, including stipulations that
<br />coverages will not be cancelled or diminfshed without at least ten (10) days prior written notice to Lender. Each
<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 default of Trustor or any other person. Should the Real Property be located in
<br />an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br />Trustor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of
<br />the loan and any prior Ifens on the property securing the loan, up to the maximum policy limits set under the
<br />National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term
<br />of the loan.
<br />Application of Proceeds. Trustor shall prompUy notiTy Lender of any loss or damage to the Property. Lender may
<br />make proof of loss ff Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender"s
<br />
|