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201211012
<br /> DEED OF TRUS7'
<br /> Loan No: 87002047 (Contineaed) Page 2
<br /> TFtUSTOR'S WAIVERS. Trustor waives all rightis or defenses arising by reason of any "one action" or "anti-deficiency"
<br /> law, or any other law which may prevent Lender from bringing any action against Trustor, induding a daim for
<br /> deficiency to the extent Lender is othe:rwise entitled to a claim for deficiency, befiore or after Lender's commencement
<br /> or completion of any foredosure action, either judicially or by exercise of e power of sale.
<br /> PAYMEIVT AND PERFORMANCE. Except as otherwise p.rovid:ed in this Deed of Trust, Borrower and Ttustor shall pay to
<br /> Lender all Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall stricTly
<br /> perform all their respective obfigations under the Note,tnis Deed of Trust, and the Related Documents.
<br /> CONSTRfJCT10N MORTGAGE. This Deed ofi Trust is a "construction mortgage" for the purposes of Sections 9-334
<br /> and 2A-309 ofi the Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br /> POSSESSION AND MAINTENAiVCE O�F THE PR�OPERTV. 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 (1) remain in possession and
<br /> control of the Property; (2) use, operate or manage the Property; and (3) coliect the Rents from the Property.
<br /> Duty to MaFntain. Trustor shall maintain the Property in tenantable condition and promptly perfiorm all repairs,
<br /> replacemenYs, and maintenance necessary to preserve its value..
<br /> Compliance Wlth Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period ofi
<br /> Trustor's ownership of the Property, there has been no use,g�eneration, 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 reason 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 Environmentai Laws, (b) any ;�.se,
<br /> generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance
<br /> on, under, about or from the Property by any prior owners or occupants of the �roperty, or (c) any actual or
<br /> threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previ�ously
<br /> disclosed 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, manufacture, store, treat, dispose of or release any Hazardous
<br /> Subsiance on, under, about or from the P�roperty; and (b) any such activity shall be conducted in compliance with
<br /> all applicable federal, state, and lncal laws, regulations and ordinances, induding without limitation all
<br /> Environmental Laws. Trustor autho�izes 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 seciion of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br /> purposes only and shali not be construed to create any responsibility or lia6ility on tne 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 (9) releases and waives any fiuture claims
<br /> against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or otJ'ier costs under
<br /> any such laws; and (2) agrees to indemnify, defend, and hold harmiess Lender against any and all claims, losses,
<br /> liabilities, dam�ages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resuiting firom
<br /> a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage,
<br /> disposal, release or threatened release occurring prior to Trustor's ownersnip or i:nterest in the Property, whether or
<br /> not the same was or should have been known to Trustor. The provisions of this section of the Deed of Trust,
<br /> induding the oblegation to indemnify and defend, shail survive the payment of the Indebtedness and the satisfaction
<br /> and reconveyance ofi 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 otherwise.
<br /> IVuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any
<br /> stripping of or waste on or to tne Property or any portion of the Property. Without limiting ihe generality of the
<br /> foregoing, Trustor wili not remove, or grant to any other party the r'vght to remove, any timber, minerals (including
<br /> , oil artd gas), coal, day,.scoria,soil, gravel or rock products without Lender's prior written consent.
<br /> Removal ofi Improvements_ Trustor sf�all not demolish or remove a�ny lm�provements from the Real �roperty 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 ihe Real Property for purposes of Trustor's
<br /> compliance with the terms and condiYions 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, ot all governmental authorities applicable to the use or occupancy of the
<br /> Property, including without limitation, the Americans With Disabilities Act. Trustor may contest in good faith any
<br /> such law, ordinance, or regulatian and withhold compliance during any proceeding, including appropriate appeals,
<br /> so long as Trustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's
<br /> interests in the Property are not jeopardized. Lender m�ay require Trustor to post adequate security or a surety
<br /> bond; reasonably satisfactory to Lender,to protect Lender`s interest.
<br /> Duty Yo Protect_ Trustor agrees neither to abandon or feave 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 to proteci and preserve the Property..
<br /> Construction�.Loara. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construcY
<br /> or compiete const�uction of any Improvements on the Property, the Improvements shall be completed no later�than
<br /> the maturity date ofi the Note (or sucn earlier date as Lender may reasonably establisl�) and Trustor shall pay in full
<br /> all costs and expenses in connection with the work. Lender will disburse loan proceeds under such terms and
<br /> conditions as Lender may deem reasonably necessary to insure that the interest created by this Deed of Trust shall
<br /> have priority over all possible fiens, including those of material suppliers and workme.n. Lender may require, among
<br /> other things, that disbursement requests be supported by receipted bills, expense affidavi�ts, waivers o�F fi.ens,
<br /> construction progress reports, and such other documentation as Lender may reasonably requesi.
<br /> DUE ON SALE-COIVSENT BY LENDER. Lend.er may, at Lender's option, declare immediate�ly due a�nd payable all surns
<br /> secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of atl or any part ofi the
<br /> Real Property, or any interesi in the Real Property. A "sale or transfer" means the co�nveyance of Real Property or any �
<br /> right, title or interest in the Real Property; whether legal, benefiicial or equitable; whether voluntary or involuntary;
<br /> whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a
<br /> term greater then three (3) years, lease-option contract, or by sale, assignment, or transfier of any benefiieial 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 federal Faw or by
<br /> Nebraska law.
<br /> TAXES AND LIEIVS. 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,
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