|
201210322
<br /> DEED OF �RUST
<br /> Loan No: 872056453 (Continued) Page 2
<br /> disclosed io and acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other
<br /> authorized user of the Property snall use, generate, manufacture, store, treat, dispose of 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 /> ali appl.icable federal, state, and local laws, regulations and ordinances, including 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 expe�nse, 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 fior Lender's
<br /> purposes only and shall not be construed to create any responsibility 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 /> investigating the Property for Hazardous Substances. Trustor hereby (1) releases and waives any fiuture claims
<br /> against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under
<br /> any such laws; and (2) agrees to indemniiy, defend, and hold harmless Lender against any and all claims, losses,
<br /> liabilities,damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from
<br /> a breach of this section of the Deed ofi Trust or as a consequence of any use, generation, manufiacture, storage,
<br /> tlisposal, release or threatened release occurring prior to Trustor's ownership or interesi in the Property,whether or
<br /> not the same was or should have been known to Trustor. The provisions ofi this section of the Deed of Trust;
<br /> including 2he obligation to indemnify and defend, shall survive the payment of the Indebtedness and ihe satisfaction
<br /> and reconveyance of the lien of this Deed of Trust and shall not be a-Ffected by Lender's acquisition of any interest
<br /> in the Property,whether 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 the Property or any portion of the Property. WiYhout limiting the generality of ihe
<br /> fioregoing, Trustor will not remove, or grant to any other party the right to remove, any timber, minerals (7ncluding
<br /> oil and gas), coal, day,scoria,soil,gravel or rock products without Lender's prior written consent.
<br /> Rernoval of Improvements. Trustor shall not demolish or rem:ove any Improvements from the Real Property without
<br /> Lender's prior written consent. As a condition to the 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 for purposes of Trustor's
<br /> compliance with the terms and conditions of this Deed of Trust.
<br /> Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and
<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 appeals, so long as Trustor has notified Lender in wriYing prior to doing so
<br /> and so long as, in Lender's sole opinion, Lender's interests in tne Property are not 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 set forth above in this section, which from the character and use of the Property are
<br /> reasonably necessary Yo 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 Deeci of Trust upon the sale or transfer, without Lender's prior written.consent, of all or any part of the
<br /> Real Property, or any interest in the Real Property. A "sale o�transfer" means the conveyance of Real Property or any
<br /> right, title or interest in the Real Property; whether legal, beneficial or equitable; wheYher voluntary or involuntary;
<br /> whetner by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a
<br /> term greater tnan three (3) years, lease-option contracY, or by sale; assig:nment, o�transfer of any beneficial 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 option shall not be exercised by Lender if such exercise is prohibited by federel law or by
<br /> Nebraska law.
<br /> TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part ofi tnis Deed of
<br /> Trust:
<br /> Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes,special taxes, assessmenis,
<br /> charges (including water and sewer), fines and impositions levied against or on account of the Property, and shaii
<br /> pay when due ap claims for work done on ot'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 and assessments not due and except as otnerwise p�ovided in this Deed of
<br /> Trust.
<br /> Right to Contest. Trustor may withhold payment of any tax, assessment, or daim in connection with a good faith
<br /> dispute over the obligation to pay, so long as Lender's interest in the Property is noY jeopardized�. If a lien arises or
<br /> is filed as a result of no:npayment, 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 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 satisfactory to Lender in an
<br /> amount sufficient to discharge the lien plus any costs and a'ttorneys' 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 itselfi and Lender and shall satisfy
<br /> any adverse judgment befiore enforcement agai.nst the Property. Ttustot shall name Lender as an additional obligee
<br /> under any s�urety bond furnished in the contest prbceedings.
<br /> Evidence of Payment. Trustor shall upon demantl furn:ish to Lender satisfactory evidence of payment of the taxes
<br /> or assessments and shall authorize the appropriate govemmental official to deliver to Lender at any time a written
<br /> statement ofi 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 furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or
<br /> other lien could be asserted on accounY of the work, services, or materials. Trustor wi.11 upon request ofi Lender
<br /> furnish to Lender advance assurances satisfactory to Lender that Trustor can and will pay tne 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 Insurance. Trusiot shall procure and maintain policies of fire insurence with standard e�ctended
<br /> coverage endorsements on a replacement basis fo�r the full insurable value covering all Improvements on Yhe Real
<br /> Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee
<br /> clause in favor of Lender,together with such other hazard and Iiability insurance as Lender may reasonably require.
<br /> Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, wi�ll deliver to Lender
<br /> from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that
<br /> cove�ages will not be cancelled or diminished without at least ten ("I O) days prior written notice to Lender. Each
<br /> insurance policy also shall indude an endorsement providing that coverage in favor ofi Lender will not be impaired
<br />
|