201205089 - Laserfiche WebLink

Browse

20120508� C. Pay all general and special taxes and a11 special assessments of every kind levied or assessed against or due upon said property before delinquency, and to deliver to BENEFICIARY copies of receipts showing payment of such taxes. D. Procure and maintain policies of all-risk insurance on said improvements, in sums and underwritten by companies acceptable to the BENEFICIARY, in an amount of at least One Million Dollars ($1,000,000.00), which policies shall name the BENEFICIARY as additional insured(s), with the loss proceeds payable to the parties as their interests may appear hereunder. TRUSTOR agree to provide BENEFICIARY with copies of such policies or certificates of insurance during the term of this indebtedness, which policies of insurance may not be cancelled by said carrier without fifteen (15) days written notice to BENEFICIARY. E. If TRUSTOR fails to perform the covenants and agreements herein contained, BENEFICIARY may do and pay for whatever is necessary to protect the value of the real ' estate and BENEFICIARY's rights in the property, including: the paying of any sum secured by a lien which has priority over this security instrument; appearing in Court; paying reasonable attorney fees; and, entering the real estate to make repairs, Any TRUSTOR secured by this Deed of Trust, to bear interest from the date of disbursement and said amount, together with the then unpaid principal amount, and shall bear interest at the highest lawful rate until refixnded by TRUSTOR. The lawful rate shall be whatever Nebraslca law allows in such circumstances at the time of default in any covenant or agreement. F. Any exterisions or modifications of the debt herein granteii by BENEFICIARY to any successor in interest of TRUSTOR, shall not operate to release the liability of the original TRU,STOR or TRUSTOR'S successor in interest. Any forbearance by BENEFICIARY in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy; because the BENEFICIARY has the right to declare when a default occurs according to the terms of this Deed of Trust. G. TRUSTOR shall comply with all federal, state and local environmental laws, ordinances, rules; requirements, regulations, and publications as now existing or hereafter existing, amended, supplemented or supplanted relating to the preservation of the environment or the regulation or control of toxic or hazardous substances or materials. TRUSTOR hereby warrants and represents to BENEFICIARY that there are no toxic or hazardous substances - or materials on or under the Properiy. TRUSTOR does hereby indemnify and hold BENEFICIARY harmless, and any successors to BENEFICIARY' S interest, from and against any and all claims, damages, losses and liabilities arising in connection with the presence, use, disposal or transport of any substance the subject of any environmental law, regulation or control of toxic or hazardous substances or materials on, under, from or about the p�operty. This indemnify shall survive Reconveyance of the property secured by this Deed of Trust. ' H. TRUSTOR shall use the Property for lawful purposes only; and shall not substantially change the Property, a11ow the Property to deteriorate, or commit or permit waste. TRUSTOR sha11 comply with all laws and regulations applicable to the use of the Property, and shall maintain the improvements thereon in good repair. I. Trustee's Duties: TRUSTOR acknowledges that: 1) The duties and obligations of Trustee shall be determined solely by the express provisions of this Deed of Trust, and the Trustee shall not be liable except � for the performance of such duties and obligations as are specifically set forth herein, and no implied covenants or obligations shall be imposed upon Trustee; 2) No provision of this Deed of Trust shall require Trustee to expend or risk Trustee's own funds or otherwise incur any financial obligation in the performance , of any of Trustee's duties herein, or in the exercise of any of Trustee's rights or , powers if Trustee shall have grounds for believing that assurance of the repayment of such funds is uncertain; 3) Trustee may consult with counsel of Trustee's own choosing and the advice of such counsel sha11 be full and complete authorization and protection in respect o � any action taken or suffered by Trustee hereunder in good faith and in reliance on such advice; ' 4) Trustee sha11 not be liable for any action taken by Trustee in good faith and reasonably believed by Trustee to be authorized or within the discretion or rights or powers conferred upon Trustee by this Deed of Trust. -2-