|
�
<br />DEED OF TRUST 2 012 0'7 6�. 7
<br />Loan No: 101255986 � ' (Continued�
<br />Page 3
<br />whether by outright sale, deed, instellment sale contrect, land contract, contract for deed, leasehold interest with a
<br />term greater than three (3) years, lease-option contrect, or by sele, 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 conveyence of an interest in the Real
<br />Property. However, this option shell not be exercised by Lender if such exercise is prohibited by federal law or by
<br />Nebraska lew.
<br />TAXES AND LIENS. The following provlsions relating to the taxes and liens on the Property are part of this Deed of
<br />Trust:
<br />Paymerrt. Trustor shall pay when due (and in all events prior to delinquency) all texes, special taxes, assessments,
<br />charges (including water and sewer), flnes and impositions levied egeinst or on account of the Property, and shall
<br />pay when due all cleims for work done on or for services rendered or material furnished to the Property. Trustor
<br />shall maintain 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 end assessments not due end except es 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 e good faith
<br />dispute over the obUgation to pay, so long as Lender's interest in the Property is not jeopardized. If e lien erises or
<br />is filed es a result of nonpayment, Trustor shall within fifteen (15) days after the Ifen erises or, if a lien is flled,
<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 setisfactory to Lender in an
<br />amount sufficient to discherge the lien plus any costs end attorneys' fees, or other charges that could accrue es a
<br />result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall satisfy
<br />any adverse judgment before enforcement ageinst the Property. Trustor shall name Lender as an edditional obflgee
<br />under any surety bond furnished in the contest proceedings.
<br />Evtdanca of Payment. Trustor shall upon demand furnish to Lender satisfectory evidence of payment of the taxes
<br />or assessments and shall authorize the eppropriete governmental official to deliver to Lender at any time a written
<br />statement of the taxes and essessments against the Property. ';
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, eny
<br />services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or
<br />other lien could be esserted on eccount of the work, services, or materials. Trustor will upon request of Lender
<br />furnish to Lender advance assurences satisfectory to Lender that Trustor can end will pay the cost of such
<br />improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of
<br />Trust.
<br />Maintenance of Insurence. Trustor shell procure and meintein policies of fire insurance with standard extended
<br />coverege endorsements on a fair value besis for the full insurable value covering all Improvements on the Real
<br />Property in en amount sufficient to avoid epplication of eny coinsurance clause, and with e standard mortgagee
<br />clause in favor of Lender, together with such other hazard and liability insurance es Lender mey reasonebly require,
<br />Policies shall be written in form, emounta, 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 satisfectory to Lender, including stipulations thet
<br />coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each
<br />insurance policy also shall include en endorsement providing that coverege in favor of Lender will not be impeired
<br />in eny way by any act, omission or defeult of Trustor or eny other person. Should the Real Property be located in
<br />an area designated by the Director of the Federal Emergency Management Agency es a special flood hazard area,
<br />Trustor egrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal belence of
<br />the loan and eny prior liens on the property securing the loan, up to the maximum policy limits set under the
<br />National Flood Insurance Progrem, or es otherwise required by Lender, and to maintain such insurance for the term
<br />of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of eny loss or damage to the Property. Lender may
<br />make 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, et Lender's election, receive and retain the proceeds of any insurance and apply
<br />the proceeds to the reduct(on of the Indebtedness, payment of any lien effecting the Property, or the restoration
<br />and repair of the Property. If Lende� elects to apply the proceeds to restoration end repair, Trustor shall repeir or
<br />replace the damaged or destroyed Improvements in a menner satisfectory to Lender. Lender shall, upon
<br />satisfactory 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 efter their receipt and which Lender hes not committed to the repair or restoration ot
<br />the Property shall be used first to pay eny amount 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 fult of the Indebtedness, such proceeds shell be paid to Trustor as Trustor's
<br />interests may appear.
<br />LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all texes, liens, security interests,
<br />encumbrences, and other claims, (B) to provide any required insurence on the Property, or (C) to make repairs to the
<br />
|