|
201208792
<br /> DEED OF T1311ST
<br /> Loan t�[o: 10004387 (Contfnued) Page 2
<br /> against Lender for indemnity or contribution in the event Trustor becomes liable for deanup or other costs under
<br /> any such laws; and {2) agrees to indemnify, defiend, and hold harmless Lender against any and alf claims, losses,
<br /> liabi�lities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from
<br /> a breach ofthis section of the Deed of Trust or as a consequence of any use, genetation, man:ufacture, sto�rage,
<br /> disposal, release or threatened release occurring prior to Trustor's ownership or interest in the PropetYy, whether or
<br /> not the same was or should have been known to Trustor. The provisions of this section ofi the Deed of Trust,
<br /> including the obfigation to inde�mnify and defend, shail survive the payment of the lndebtedness and the satisfaction
<br /> and reconveyance of The lien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest
<br /> in the Property,whether by foreclosure or otnerwise.
<br /> IVuisance, Waste.. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any
<br /> stripping of or waste o:n. or to the Property or any portion of the Property. Witnout limiting the generality of the
<br /> foregoing, Trustor will not remove, or grant to any other party tne right to remove, any timber, minerals (including
<br /> oil and gas), coal,clay, scoria,soil,gravel or rock products without Lender s prior written consent.
<br /> Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property witho�ut
<br /> Lender's prior written consent. As a condition to the removal of any Improvements, Lender may require Trustor to
<br /> make arrangements satisfiactory to Lender to replace such Improvements with lmprovements of at least equal
<br /> value.
<br /> Lender's Right to Enter_ Lender and Lender`s agents and representatives may enter upon the Reai Property at al8
<br /> reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Trustor's
<br /> compliance with the terms and conditions of this Deed ofi Trusi.
<br /> Compliance witn Governmental Requirements_ Trustor shall promptly comply with all laws, ordinances, anci
<br /> regulations, now or hereafter in effect, of all 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 appea:ls; 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 noi jeopardized: Lender may require
<br /> Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender,to protect Lender's interest.
<br /> Duty to Protect.. Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do all other
<br /> acts, in addition to those acts seY forth above in this section, which from the character and use of the Property are
<br /> � reasonably necessary to protect and preserve the Property.
<br /> DUE ON SALE- CONS�EMdT BY LENDER. Lender may, at Lender°s option, dedare immediately due and�payable all sums
<br /> secured by this Deed of Trust upon the saie or transfer, without Lender's prior wriYten consent, of all or any part of the
<br /> Real Property, or any interest in the Rea1 Property. A "sale or transfer" means the conveyance of Real Property or any
<br /> right, titie or interest in the Real Property; whether iegal, beneficial or equitable; whether voluntary or invofuntary;
<br /> whether by out�ight sale, deed, installment sale contract, land contract, cont�act for deed, leasehold i.nterest with a
<br /> term greater than three (3) years;lease-option contract, or by sale, assignment, or transfer ofi any beneficial interest in
<br /> or to any land trust holding title to the Real Property, or by any other method ofi conveyance of an interest i�n the Real
<br /> Property. However, this option shall not be exercised by Lender if such exercise is prohi:bited by fiederal law or by
<br /> Nebraska law.
<br /> TAXES AND LIENS. The follo�wing provisions relating to tne taxes and Iiens on tne Property are part of this Deed of
<br /> Trust:
<br /> Payment. Trustor shall pay when due (and in al! events prior to delinquencyD all taxes, special taxes, assessments,
<br /> charges (including watee and sewer}, fiines and impositions fevied against or on account of the Property, and shall
<br /> pay when due all claims for work done on or for services rendered or material furnished to the Property. Trustor
<br /> shalY maintain the V'roperty free of all li�ens havi�ng priority over or equal to the interest of Lender under this Deed of
<br /> T�ust, except for the Pien of taxes and assessments not due and except as otherwise provided in this Deed of
<br /> Trust.
<br /> Right to Contest Trustor m�ay 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 arises or
<br /> is filed as a result of nonpayment, Trustor shall within fiifteen (15) days after the lien arises or, if a lien is filed,
<br /> within fifteen (15) days after Trustor has notice of the fili.ng, secure the discharge of the fien, or if requested by
<br /> Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender i�n an
<br /> amount sufficient to d�ischarge the lien plus any costs and attorneys' fees, or other charges that could accrue as a
<br /> result of a foreclosure or sale under the li��en. In any contest, Trustor shall defend itself and Lender and shall satisfy
<br /> any adverse judgment before enforcement against the Property. Trustor sha��.11 name Lender as an additional obligee
<br /> unde�r any surety bond furnished in the contest proceedings.
<br /> Evidence of Payment_ Trustor shall uport demand fiurnish to Lender satisfactory evidence ofi payment of the taxes
<br /> or assessments and shali authorize the appropriats governmental official to deliver to Lender at any time a written
<br /> statement of the taxes and assessments against the Property.
<br /> RE�otice of Construction. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, any
<br /> services are fumished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or
<br /> other lien could be asserted on account of the work, services, or materials. Trustor will upon request of Lender
<br /> fumis�h to Le�der advance assurances satisfactory to Lender that Trustor can and will pay the cost ofi 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 Insurance. Trustor shall procure and mainta.in policies of fire insurance with standard extended
<br /> coverage endorsemeMs on a replacement basis for the fiull insurable value covering ail Improvements on the Real
<br /> Property in an amount sufficient to avoid appfication of any coinsurance clause,. and with a standard mortgagee
<br /> clause in favor of Lender,togetF�er with such otf�er hazard and liability i.nsurance as Lender may reasonably require.
<br /> Policies shall be written in form, amounts, cove�rages and basis reasonabfy acceptable to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will delive� to Lender
<br /> from time to time the policies or certifiicates of insurance in fiorm satisfactory to Lender, including stipulations that
<br /> coverages wi:ll not be cancelled or diminished without at least ten (1 O) days prior written notice to Lender. Each
<br /> insurance policy also 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 in
<br /> an area designated by the Dieector of the Federal Emergency Management Agency as a special flood hazard area,
<br /> Trustor agrees to obtain and maintain Federal Flood Insurance, if available, for the fiull unpaid principal balance of
<br /> the loan and any prior liens on the 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 /> ofi the loan.
<br /> Application of Proceeds. Trustor shall promptiy notify Lender of any loss or damage to the Property. Lender may
<br /> rnake proof of ioss if Trustor fails to do so witfiin fif�een (15) days of the casualty. Whether or not Lender°s
<br /> securiYy is impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance and apply
<br /> the proceeds to the reducti.on of the indebtedness, payment of any lien affecting the Property, or the restoration
<br />
|