Laserfiche WebLink
2 013 0 9 3 e201302586 <br /> For the Purpose of Securing: <br /> A. Payment of indebtedness evidenced by the Second Promissory Note of Trustor in the amount of$ 4 000.00 <br /> in favor of Beneficiary(the"Promissory Note");and <br /> B- Payment of all sums advanced by Beneficiary to protect the Trust Estate. <br /> The indebtedness described in paragraphs A and B above is referred to as the"Indebtedness." <br /> This Second Deed of Trust,the Promissory Note of Trustor in favor of Beneficiary and any other instrument given to <br /> evidence or further secure the payment and performance of any obligation secured hereby are referred to collectively as the <br /> "Loan Instruments". <br /> Trustor covenants that(i)Trustor holds title to the Trust Estate and has lawful authority to encumber the Trust Estate, <br /> (ii)the Trust Estate is free and clear of all hens and encumbrances except for easements,restrictions and covenants of record and <br /> the Deed of Trust from Trustor encumbering the Property dated on or about the date hereof(the"First Deed of Trust"), and <br /> (iii)Trustor will defend the Trust Estate against the lawful claims of any person. <br /> To Protect the Security of this Second Deed of Trust: <br /> 1. Payment of Indebtedness. Trustor shal I pay when due the principal of,and the interest on,the indebtedness <br /> and all other sums as provided in the Loan Instruments. <br /> _2. Taxes. Trustor shall pay each installment of all taxes and special assessments of every kind,now or hereafter <br /> levied against the Trust Estate or any part thereof,before delinquency,without notice or demand. <br /> 3. Insurance and Repairs. Trustor shall maintain fire and extended coverage insurance insuring the <br /> Improvements constituting part of the Trust Estate for such amounts and on such terms reasonably satisfactory to Beneficiary So <br /> long as the Property is secured by a first deed of trust or mortgage,compliance with the insurance requirements of the First Deed <br /> of Trust or mortgage shall be sufficient to satisfy the requirements of this paragraph 3 relating to insurance. <br /> Truster shall promptly repair and replace the Trust Estate or any part thereof so that,except for ordinary wear and tear, <br /> the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate,or commit,suffer or <br /> permit any act to be done in or upon the Trust Estate in violation of any law, ordinance or regulation. Trustor shall pay and <br /> promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the <br /> Trust Estate or any part thereof. <br /> 4. Actions Affecting Trust Estate. Truster shall appear in and contest any action or proceeding purporting to <br /> affect the security hereof or the rights or powers of Beneficiary or Trustee,and shall pay all costs and expenses,including cost of <br /> evidence of tide and attorneys' fees, in any such action or proceeding in which Beneficiary or Trustee may appear. If Trustor <br /> fails to make any payment or to do any act as and m the manner provided in any of the Loan Instruments,Beneficiary and/or <br /> Trustee, each in their own discretion, without obligation so to Co and without notice to or demand upon Trustor and without <br /> releasing Trustor from any obligation,may make or do the same in such manner and to such extent as either may deem necessary <br /> to protect the security hereof Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and expenses <br /> incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights,including without limitation costs <br /> of evidence of title,court costs,appraisals,surveys and attorneys fees. <br /> 5. Eminent Domain. If the Trust Estate,or any part thereof or interest therein,he taken or damaged by reason <br /> of any public improvement or condemnation proceeding, or in any other manner including deed in lieu thereof <br /> ("Condemnation"), or if Trustor receives any notice or other information regardmg such proceeding, Trustor shall give prompt <br /> written notice thereof to Beneficiary. Trustor shall be entitled to all compensation,awards and other payments or relief thereof <br /> and shall he entitled at its option to commence,appear in and prosecute in its own name any action or proceedings. Trustor shall <br /> also be entitled to make any compromise or settlement in connection with such taking or damage. <br /> 6. Appointment of Successor Trustee. Beneficiary may, from time to time,by a written instrument executed <br /> and acknowledged by Beneficiary, mailed to Trustor and recorded in the County in which the Trust Estate is located and by <br /> otherwise complying with the provisions of the applicable law of the State of Nebraska substitute a successor or successors to the <br /> Trustee named herein or acting hereunder. <br /> NIFA HEAL Advantage Loan/Form H <br /> (03/2012) <br /> 4526-5279-3571 2 <br />