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201208582
<br /> DEED OF TRUST
<br /> Loan No_ '10004'137 (Contillued) Page 2
<br /> any such laws; and (2) agrees to indemnify, defend, and hold harmless Landet against any and a!I claims, losses,
<br /> liabilities, damages, penaities, and expenses wfiich Len6er may directly or indirectly sustain or suffer resulting from
<br /> a breach of tnis section of the iDeed of Trust or as a cons,equence of any use, generaYion, manufacture, sYorage,
<br /> disposal, release or threatened reieaSe occurring prior to Trustor's ownershiF or interest in the Property, whether or
<br /> not the same was or should have 6een known to Trustor. The provisions of this section of the Deed of Trust,
<br /> induding the obligation to indemnify and defend, shall survive the payment of the Indebtedness and the satisfaction
<br /> and reconveyance of the lien of this Deed ofi Trust and shall not be affected by Lender's acquisition of any interest
<br /> in the Property, wfiether by foreclosure or otherwise.
<br /> Nuisance, Waste. Trustor shail not cause, conduct or permit any nuisance nor commit, permit, or suffer any
<br /> stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the
<br /> foregoing, Trustor wili not remove, or grant to any other party the right to remove, any timber, minerals (including
<br /> oil and gas), coal, day, scoria,soil, gravel or rock producxs without Lender's prior written consent.
<br /> Removal of improvements. Trustor shall not demolish or remove any Improvements from the Rea! Property witf�out
<br /> Lender's prior written consent. As a condition to the removal ot any Improvements, Lencier rlay requ�re Trustor io
<br /> make arrangements satisfiactory to Lender to replace such Improvements with Im�provemenis of at feast eaua!
<br /> value.
<br /> Lender's Right to Enter_ Lender and Lender's agents and representatives may enter upon t5e �eat F'roperiy at all
<br /> reasonable times to attend to Lender's interests and to inspect the Real Property fo� purposes ot Trustor's
<br /> compliance with the terms and conditions of this Deed of Trust.
<br /> Compliance wi#h Governmental Raquirements. Trustor shall promptly comply with all laws, ordinances, and
<br /> regulations, now or hereafter in effect, ofi all governmental authorities applicable io the use or occupancy of the
<br /> Property. Trustor may contest in good faith any sueh law, ordinance, or regulation and withhoid compliance during
<br /> any proceeding, including appropriate appeais, so long as Trusmr 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 /> Trustor to post adequate security or a surety bond, reasonably satisfacmry to Lender,to protect Lender's interest.
<br /> Duty to Protect. Trustor agrees neither to a6andon or leave unattended the Property. Trustor shall do aIl other
<br /> acts, in addition to those acts set forth above in this section, which from the character and use ofi the Property are
<br /> reasonabiy necessary to protect and preserve tfie Property.
<br /> DUE ON SALE- CONSENT BY i.E1VDEE2. Lender m:ay, at Lendet°s option, declare immediately due and payable all sums
<br /> secured by this Deed of Trust upon the sale or transfer, w�thout Lender's prior w�itten conser.t, of all or any parT of the
<br /> Real Property, or any interest in the Reai Property. A "sale or transfer" means the conveyance of Reai Property or any
<br /> right, title or interest in the Reai Property; wheYher legal, beneficial or equitable; whether voluntary or involuntary;
<br /> whether by outright sale, deed, installment sale contract, land contract, contract fior deed, leasehold interest with a
<br /> term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial in2erest 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 Reaf
<br /> Property. However, this option shall not be exercised by Lender if such exercise is prohibited by fiederal law or by
<br /> � Ne6raslca 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 /> Paycnent. Trustor sl�all pay whea due ianc7 in all events prior Yo delinquency) all taxes, speciaP�taxes, assessments,
<br /> charges (including water and sewer), fines and impositions ievied against or on account of the Property; and shaif
<br /> pay when due all claims for work done on or for services rendered or material furnlshe@ to the Property. Trustor
<br /> shall mai:ntain t➢�e Property free of all iiens having pri�ority over or equal to the interest of L�nder under this Deed af
<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 Yo Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good fiaith
<br /> dispute over the obligation 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 ofi nonpayment, Trustor shall within fiftee�n 115) days after the lien arises or, if a lien is filed,
<br /> within fiifteen (15) days after Trustor has notice of the filing, secure the discharge of the lien, or if requesYed by
<br /> Lender, deposit with Lender cash or a sufficient corporate surety bond or other security s�atisfactory to Lender in an
<br /> amount sufficient to discharge ihe lien plus any costs and attorneys' fees, or otner charges that could accrue as a
<br /> result of a foreclosure or sale under the lien. In any contesY., Trustor shail defend itself and Lender and shall satisfy
<br /> any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee
<br /> vnder any surety bond furnished in the contest proceedings..
<br /> Evider�.ce of Payment. Trustor shalf upon demand furnish to Lender saiisfactory evidence of payment of the iaxes
<br /> or assessments and shall authorize the appropri�ate 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 sh:all notifiy Lender at least fiifteen (1 5) days before any worl<is commenced, any
<br /> services are furnished, or any materials are suppiied to the Property, if any mechanic's lien, materialmen's lien, or
<br /> other lien could be asserted on accounY of the worl<, services., or materials. Trustor will upon req:uest of Lender
<br /> furnish Yo Lender advance assurances satisfactory to Lender that Trustor can and will pay the cost of such
<br /> improvements.
<br /> PROPERTY DAMAGE WSURANCE. The following provisions relating to insuring the Property are a part of this Deed of
<br /> Trust.
<br /> Maintenance of 9nsurance. Y'rustor s.hal4 Qrocure and m�a3ntain policies of fire insurance with standard extended
<br /> coverage endorsements�on a repfacement basis for the fulp insurabie vaiue covering ali improvements on tiie Reai
<br /> Property in an amourat suificient to avoFd applicatiora of any coinsurance ciause, ana weth a standard mortgagee
<br /> clause in favor of��ender, togethe�r with such oiner hazard and IiabiliYy insurence as Lender rnay reasonably requare.
<br /> Policies shaEl be writYen ira form, amounts, coverages and basi5 reasonably acceptable to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, w�ll deliver to Lender
<br /> from time to time the policies or certifi�cates of insurance in form satisfactory to.Lender, induding stipulations that
<br /> coverages will not be cancelled or diminished withaut at least ten (70) days prior written notice to Lender. Each
<br /> insurance policy also shall include an endorsemeM providing that coverage in favor of Lender will not be impaired
<br /> in any way by any act, omission or default ofi Trustor or any other person. Should the Real Property be locateti in
<br /> an area designated by the DirecYor of the Federal Emergency Management Agency as a special flood hazard area,
<br /> Trustor agrees to obtain and maintain Federai Flood Insurance, if availa�ble, for the full unpaid p�incipal balance of
<br /> the loan and any prior liens on tne 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 ioan.
<br /> Appiecation of Proceeds. Trustor shail promptly notify Lender of any ioss or damage to the Property. Lender may
<br /> rnalce proofi of loss if �rustor fails to do so within fifteen (15) days of the casualty. Wnether or not Lender's
<br /> security is impaired, Lender may, at Lender's election, receive and retain the proceeds ofi any insurance and apply
<br /> the proceeds to the reduction of the Indebtedness, payment of any lien affecYing the Property, or the restoration
<br /> and repair of the Property. If Lender elects to appty the proceeds to restoration and repair, Trustor shall repair or
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