|
201208896
<br /> DEED OF TRUST
<br /> Loan No: 81001445 (Continued) Page 2
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to
<br /> Lender all Indebtedness secured by this Deed of Trust as it becomes due, and Borrowet and Trustor shall strictly
<br /> perform all their respective obligations under ihe Note,this Deed of Trust, and the Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY_ Borrower and Trustor agree that Borrower's and Trustor's
<br /> possession and use of the Property shall be governed by the fiollowing provisions:
<br /> Possession and Use: Until the occurrence of an Event of Default, Trustor may ('I) remain in possession and
<br /> control of the Property; (2) use,operate or manage the Property; and (3) collect the Rents from the Property.
<br /> Duty to Maintain. Trustor shall maintain the P�operty in tenantable condition and promptly perform aIl repairs,
<br /> . replacements, and maintenance necessary to preserve its value.
<br /> Compliance With Environmental Laws�. TruStor represents and warrants to Lender tnat: (1) During the period of
<br /> Trustor's ownershi�p of the Property,there has been no use, generation, manufacture, storage,treatment, disposal,
<br /> release or threatened release of any Hazardous Substance by any person on, under, about or from the Property;
<br /> (2) Trustor has no knowledge of, or teason to believe that there has been, except as previously disclosed to and
<br /> acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any use,
<br /> generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance
<br /> on, under, about or from tne Property by any prior owners or occupants of the Property, or (c) any actual or
<br /> threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously
<br /> disdosed to and acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other
<br /> authorized user of the Property shall use, generate, manufiacture, store, treat, dispose ofi or release any Hazardous
<br /> Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with
<br /> all applicable federel, state, and local laws, regulations and ordinances, induding without limitation all
<br /> Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property to make such
<br /> inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the
<br /> Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br /> purposes only and shall not be construed to create any responsibiliiy or liability on the part of Lender to Trustor or
<br /> to any other person. The representations and warranties contained herein are based on Trustor's due diligence in
<br /> irnestigating the Property for Hazardous Substances. Trustor hereby (1) releases and waives any future daims
<br /> against Lender#or indemnity or contribution in the event Trustor becornes liable for deanup ot other costs under
<br /> any such laws; and (2) agrees to indemnify, defiend, and hold harmless Lender against any and all claims, losses,
<br /> liabilities; damages, penalties,and expenses which Lender may directly or indirectly sustain or sufiFer resulting from
<br /> a breach of this section of tihe Deed of Trust or as a consequence of any use, generation, manufacture, storage,
<br /> disposal, release or threatened release occurring prior to Trustor's ownership or interest in tne Property, whether or
<br /> not tne same was or should have been known to Trustor. The provisions of this 5ection of the Deed of Trust,
<br /> including the obfigation to indemnify and defend, shall survive the payment of the Indebtedness and the satisfaction
<br /> and reconveyance of the lie�of this Deed ofi Trust and shall not be afifected by Lender's acquisition of any interest
<br /> in the Property,whethe�r by foreclosure or otherwise.
<br /> Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any
<br /> stripping. of or waste on or to ihe Property or any portion of the Property. Without limiting the generality of the
<br /> foregoing, Trustor will not remove, or grant to any other party the right to remove, any timber, minerals (induding
<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 without
<br /> Lender's prior written consent. As a condition to ihe removal of any Improvements, Lender may require Trustor to
<br /> make arrangements satisfactory to Lender to replace such Improvements with Improvements of at least equal
<br /> value.
<br /> Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all
<br /> reasonable times to attend to Lender's interests and to inspect the Real Property fior purposes of Trustor's
<br /> compliance with the terms and condiYions of this Deed of Trust.
<br /> Compliance wiYh Governcnental Requirements�. Trustor shall promptly comply with all laws, ordinances, and
<br /> regulations, now or nereafter in effect, of all govemmental authorities applicable to the use or occupa:ncy of the
<br /> Property, including without limitation, the Americans With Disabilities Act. Trustor may contest in good faith any
<br /> such law, ordinance, or regulation and withhold compliance during any proceeding., including appropriate appeals,
<br /> so long as Trustor has notified Lender in writing prior to do.ing so and so long as, in Lender's sole opinion, Lender's
<br /> 'interests in the Property are not jeopardized. Lender may require T�ustor to post adequate security or a sureTy
<br /> bond, reasonably satisfiactory to Lender,to protect Lender's inYerest.
<br /> Duty to Protect. Trustor agrees neither to abandon or leave unattended the Ptoperty. Trustor snall do all other
<br /> acts, in addition to those acts set fiorth above in this secYion,which from the character and use of the Property are
<br /> reasonably necessaty to protect and preserve the Property.
<br /> DUE ON SALE-CONSENT BY LENDER. Lender may, at Lender`s option, declare immediately due and payable all sums
<br /> secured by this Deed of Trust upon tne sale or transfer, without Lender`s prior written consent,of all or any part o#the
<br /> Real Property, or any interest in the Real Property. A "sale or transfer" means ihe conveyance of Real Property or any
<br /> right, title or interest in the Real Property; whether legal, bene-Ficial or equitable; whether voluntary or involuMary; .
<br /> . whether by outrighi sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a
<br /> term greater than thtee (3) years, lease-option contract, or by sale, assignment, or transfer of any benefici�al.interest 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 Real
<br /> Property. However, this opiion shall not be exercised by Lender if such exercise is prohibitetl by federal law or by
<br /> Nebraska Iaw.
<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 /> Payment_ Trustor shall pay when due (and in all events prior to delinquency) all taxes,special taxes, assessments,
<br /> charges (induding water and sewer), fines and impositions levied against or on account of the Property, and shall
<br /> pay when due all claims for work done on or fot seYvices rendered or material furnished to the Property. Trustor
<br /> shall maintain the Property free of aIl liens having 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 obligaiion to pay, so long as Lender's interest in the Prbperty is not jeopardized. If a lien arises or
<br /> is filed as a result of nonpayment, TrusYor shall witnin fifteen (1 5) days after the lien arises o.r, if a lien is filed,
<br /> within fifteen (l5) days after Trustor has notice of tihe filing, secure the discharge ofi the lien, or if requested by
<br /> Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br /> amount suffieient to discharge the lien plus any costs and attomeys' fees, or other charges that could accrue as 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 against the Property. Trustor shall name Lender as an additional obligee
<br /> under any surety bond furnished in the contest proceedings.
<br /> Evidence of PaymenY. Trustor shall upon dernand furnish to Lender satisfactory evidence of payment of the taxes
<br />
|