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201300495
<br /> DEED OF TRUST
<br /> Loan No: 81002126 (Continued) Page 3
<br /> Real Property,or any interest in the Real Property. A"sale or transfer"means the conveyance of Real Property or any
<br /> right, title or interest in the Real Property; whether legal, beneficial 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 than three(3)years,lease-option contract,or by sale,assignment,or 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 federal law or by
<br /> Nebraska 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 /> Payment. Trustor shall pay when due(and in all events prior to delinquency)all taxes,special taxes,assessments,
<br /> charges(including 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 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 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 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 fifteen (15) days after the lien arises or, if a lien is filed,
<br /> within fifteen (1 5)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 attorneys'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 Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes
<br /> or assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written
<br /> statement of 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 account of the work,services,or materials. Trustor will upon request of Lender
<br /> furnish to Lender advance assurances satisfactory to Lender that Trustor can and will pay the 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. Trustor shall procure and maintain policies of fire insurance with standard extended
<br /> coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the 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. Trustor shall also procure and maintain comprehensive general liability insurance in such
<br /> coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such
<br /> liability insurance policies. Additionally,Trustor shall maintain such other insurance, including but not limited to
<br /> hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be written in
<br /> form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies
<br /> reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the
<br /> policies or certificates of insurance in form satisfactory to Lender,including stipulations that coverages will not be
<br /> cancelled or diminished without at least ten (10) days prior written notice to Lender. Each insurance policy also
<br /> shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act,
<br /> omission or default of Trustor or any other person. Should the Real Property be located in an area designated by
<br /> the Director of the Federal Emergency Management Agency as a special flood hazard area,Trustor agrees to obtain
<br /> and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of the loan and any prior
<br /> liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance
<br /> Program,or as otherwise required by Lender,and to maintain such insurance for the term of the loan.
<br /> Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of loss if Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's
<br /> security is impaired,Lender may,at Lender's election,receive and retain the proceeds of any insurance and apply
<br /> the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property,or the restoration
<br /> and repair of the Property. If Lender elects to apply the proceeds to restoration and repair,Trustor shall repair or
<br /> replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of
<br /> repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been
<br /> disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of
<br /> the Property shall be used first to pay any amount owing to Lender under this Deed of Trust,then to pay accrued
<br /> interest,and the remainder, if any,shall be applied to the principal balance of the Indebtedness. If Lender holds
<br /> any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Trustor's Report on Insurance. Upon request of Lender,however not more than once a year,Trustor shall furnish
<br /> to Lender a report on each existing policy of insurance showing: (1) the name of the insurer; (2) the risks
<br /> insured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such
<br /> property,and the manner of determining that value;and (5) the expiration date of the policy. Trustor shall,upon
<br /> request of Lender,have an independent appraiser satisfactory to Lender determine the cash value replacement cost
<br /> of the Property.
<br /> LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in
<br /> the Property or if Trustor fails to comply with any provision of this Deed of Trust or any Related Documents,including
<br /> but not limited to Trustor's failure to discharge or pay when due any amounts Trustor is required to discharge or pay
<br /> under this Deed of Trust or any Related Documents,Lender on Trustor's behalf may(but shall not be obligated to)take
<br /> any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security
<br /> interests,encumbrances and other claims,at any time levied or placed on the Property and paying all costs for insuring,
<br /> maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then
<br /> bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by
<br /> Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option,will (A) be payable on
<br /> demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment
<br /> payments to become due during either (1) the term of any applicable insurance policy;or (2) the remaining term of
<br /> the Note;or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of
<br /> Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to
<br /> which Lender may be entitled upon Default.
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed
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