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201208016
<br /> DEED OF l"FiUST
<br /> Loan lilo: 10003728 (COntiiltAeC�) Page 2
<br /> liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resuiting from
<br /> a breach of this section of the Deed of Trust or as a consequence of any use, generation, manu#acture, storage,
<br /> disposai; reFease or threatened release occurring prior to�Trustor's ownership or interest in the Property, whether or
<br /> not Yhe same was or should have been known to Trustor. The provisions of this section of the Deed ofi Trust,
<br /> including the obligation to indemnify and defend, shall survive the payment of the I�ntlebtedness and tne satisfiaction
<br /> and reconveyance of the lien ofi this Deed of Trust and shall not be affected by Lender's acquisitio:n of any interest
<br /> i:n the Property, whether by foredosure or otnerwise.
<br /> 6Vuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suFfer any
<br /> stripping of or waste on or to the P�opeRy or any portion of the Property. Without limiting the generality of tne
<br /> fioregoing, Trustor will not remove, or grant to any other party the right to remove, any timber, mi.nerals (i.ncluding
<br /> o��il and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent.
<br /> Removal of Improvernents. Trustor shall not demolish or remove any Improvements from the Real Property without
<br /> Lender's priot written consent. As a condition to the re�movai of any lmprovements, Lender may require Trustor to
<br /> make arrangements satisfactory to Lender io replace such Improvements with Improvements of at teast equai
<br /> value.
<br /> Lender"s Right Eo Enter. Lender and Lender's agents and representatives may enter upon the Real Property at aii
<br /> reasonable times to� attend to Lender's interests and to inspect the Real Property fior pu�.rposes of Trustor's
<br /> compl.iance with the terms and conditions ofi this Deed of Trust..
<br /> Compliance with Govemmental Requirements. Trustor shall promptly comply with all laws, ordinances, and
<br /> regulations, now or hereafter in effect, ofi aFl governmental. authorities 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 notified 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 /> TrusYor to post adequate security or a surety bond, reasonably satis'factory to Lender,to protect Lender's interest.
<br /> Duty to Protect. Trustor agrees neither to abandon or leave unattended the Proper[y. Trustor shall do ail other
<br /> acts, in addition to those acts set forth above in this section, which firom the character and use oi tfie Property are
<br /> reasonably necessary to protect and preserve the Property�.
<br /> DUE ON SALE- CONSENT BY LENDER_ Lender may, at Lender's opiion, declare immediate.fy due and payable al!sums
<br /> secured by this Deed ofi Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the
<br /> Real Property, or any interesi in the Real Property. A "sale or transfer" means the conveyance ofi Real Property oe any
<br /> right, title or interest in the Real Pro�perty; whether legal, beneficial or equitable; wnetner vofuntary or involuntary;
<br /> wheiher by outright sa.le, deed, i�.nstaliment sale contract, land contract, co�ntract for deed, lease�hold interest with a
<br /> te.rm g�eatcr than three (3) years, lease-option contract, or by sale, assignment, or transfer ofi any benefiaial interest in
<br /> or to any land trust holding titie to ihe Real Properiy, or by any other method of conveyance of an interest in the Real
<br /> Pro�perty. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by
<br /> Ne�braska law.
<br /> TAX�ES AND LIENS. The following provisions relating to the taxes and liens on the Property are part o�f this Deed of
<br /> Trust:
<br /> Payment Trustor shall pay when due (and in all events prior to delinquency) afl taxes, speciat taxes, assessments,
<br /> charges (induding water and sewer), fines and impositions levied against or on accounl of�the Pro�perty, and shall
<br /> pay when due all daims for work done on or for services rendered or material furnished to the Property. Trustor
<br /> shall maintain Yhe Property free of all liens having priority over or equai to the interest of Lender under this Deed' oi
<br /> Trust, except for the lien ofi taxes and assessments not rlue, except for the Existi.ng Indebtedness refereed to
<br /> below, and except as otherwise 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 obligati.on to pay,so long as Lender's interest in the Property is not jeopardized. If a lien arises or
<br /> is filed as a result of nonpayment, Trustor shall within fifteen (1�) days after the lien arises or, if a lien is filed,
<br /> within fifteen (1 5) days after Trustor has notice of the filing, secure the disenarge of the lien, or if requested by
<br /> Lender, tleposit with Lender cash or a sufficient corporate surety bond ar other security satisfactory to Lender in an
<br /> amount sufficient to d�ischarge the lien plus a.ny costs and attomeys' fees, or other charg:es that coufd accrue as a
<br /> resWt of a foreclosure or sale under the lien. In any contest,Trustor shail defend itself and Lender and snall satisfy
<br /> any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additionaf�obligee
<br /> under any surety bond furnished in the contesi proceedings.
<br /> Evidence of Faysnent. Trustor shal! upon demand furnish to Lender satisfactory evidence of payment of the taxes
<br /> or assessments and shall authorize the appropriate governmental ofificial 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 fiurnished, or any materials are supplied to the Property, if any mechan�i�ds 4ien, materialmen's lien, or
<br /> otner lien could be asserted o�n account of the work, services, or materials. Trustor will upon request of Lender
<br /> furnish to Lender advance assurances satisfactory to Lender that Trustor can and will pay the cost ofi such
<br /> improvements.
<br /> PROPERTY DAMAGE INSURANCE. The fiollowing 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 o� fire insurance wit[i standard extendec7
<br /> coverage enciorsements on a replacement basis for the full insurable vaiue covering aI€ fmprovements on the Real
<br /> Property in an amount sufficient to avoid applicatio� of any coinsurance ciause, and with a stanc��ard 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 in form, amounts, coverages and basis reasonably acceptable to Lender and iss.ued 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 certificates ofi insurance in form satisfactory to Lender, includ�ing stipulations that
<br /> coverages will no2 be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each
<br /> insurance policy also shall include an endorsement providing that coverage in favo.r of Lender will not be impaired
<br /> in any way by any act, omission or defiault 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 agtees to obtain and maintain Federal Flood Insurance, if avail�ble, for the full unpaid ptincipal balance of
<br /> the ioan and any prior liens o.� the property securing the loan, up to ihe maximum policy limits set under the
<br /> Nationaf Flood Insurance Program, or as otherwise repusred by Lender, antl to maintain such insurance fior the term
<br /> of the loan.
<br /> Application of Proceeds. Trustor shall pramptly notify Lender of any loss or dam��age to the P�roperty. Lender m�ay
<br /> make proof of loss if Trustor fiails to do so within fifiGeen t15J days of the casualty. Whether or not Len�er's
<br /> security is impaired, Lender may, at Lender's election, receive and retain tne proceeds of any insurance and apply
<br /> the proceeds to the reduction of the lndebtedness; payment of any lien affecti�ng the Property, or the restoration
<br /> and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shall repair or
<br /> replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
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