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201205594
<br />� � � " ° DEED OF TRUST
<br />Loan No: 101253625 IContinued)
<br />Page 3
<br />Real Property, or any interest in the Real Property. A"sale or transfer" means the conveyence 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 sele, deed, installment sale contract, land contract, contrect for deed, leasehold interest with a
<br />term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in
<br />or to any lend 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 relatfng to the texes and liens on the Property ere pert of this Deed of
<br />Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, speciel taxes, assessments,
<br />charges (including water and sewer), fines and impositions levied against or on account of the Property, and shall
<br />pey when due all claims for work done on or for services rendered or material furnished to the Property. Trustor
<br />shall maintain the Property free of all liens heving 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 and except as otherwise provided in this Deed of
<br />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 Property is not jeopardized. If a lien erises or
<br />is filed.as a result of nonpayment, Trustor shall within fifteen (76) days.after xhe lien arises or, if a lien 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 satisfectory to Lender ln en
<br />amount sufficient to discharge the lien plus any costs end attorneys' tees, or other charges that could accrue as e
<br />result of a foreclosure or sele under the Ifen. In any contest, Trustor shall defend itself and Lender and shell setisfy
<br />any adverse judgment before enforcement against the Property. Trustor shall name Lender es an additional obBgee
<br />under any surety bond furnished in the contest proceedings.
<br />Evidance of Payment. Trustor shall upon demend furnish to Lender satisfactory evidence of payment of the texes
<br />or assessments and shall euthorize the eppropriete governmentel officiel to deliver to Lender at eny time e written
<br />stetement of the taxes and essessments against the Property.
<br />Notice of Constructlon. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, eny
<br />services are furnished, or eny materiels are supplied to the Property, if any mechanic's lien, materielmen's lien, or
<br />other lien could be asserted on account of the work, services, or materiels. Trustor will upon request of Lender
<br />furnish to Lender advance essurances satisfactory to Lender that Trustor can and will pay the cost of such
<br />improvements.
<br />PROPERTY DAMAQE INSURANCE. The following provisions relating to insuring the Property are a part of 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 fair value basis for the full insurable velue covering all Improvements on the Real
<br />Property in an emount suff(cient to avoid applicetion of any coinsurance clause, end with e standerd mortgsgee
<br />clause in favor of Lender, together with such other hazard and liability insurance as Lender may reasonebly require.
<br />Policies shatl be written in torm, emounts, coverages and basis reasonably acceptable to Lender and issued by e
<br />company or compenies reasonably acceptable 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, including stipulations that
<br />coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Eech
<br />insurance policy elso 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 fn
<br />an area designated by the Director of the Federal Emergency Manegement Agency es a speciel flood hezard erea,
<br />Trustor agrees to obtai� and maintein Federal Flood Inaurance, if available, for the full unpaid_ principal belance of
<br />the loan and any prior liens on the property securing the loan, up to the maximum poflcy limits set under the
<br />National Flood Insurence Program, or as othervvise required by Lender, and to maintein such insurance for the term
<br />of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damege to the Property. Lender may
<br />make proof of loss if Trustor fails to do so within fifteen (15) deys 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 elects to epply the proceeds to restoration and repeir, Trustor ahell repair or
<br />replace the damaged or destroyed Improvements in a manner satisfactory 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 restoretfon 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 any amount owing to Lender under this Deed of Trust, then to pay 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.
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