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201310108
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance
<br />insuring the improvements and buildings constituting part of the Trust Estate for an amount no less than
<br />the amount of the unpaid principal balance of the Note (co- insurance not exceeding 80% permitted).
<br />Such insurance policy shall contain a standard mortgage clause in favor of Beneficiary and shall not be
<br />cancelable, terminable, or modifiable without ten (10) days prior written notice to Beneficiary. Trustor shall
<br />promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary wear
<br />and tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the
<br />Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or
<br />proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and
<br />shall pay all costs and expenses, including cost of evidence of title and attorney's fees, in any such action
<br />or proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to make any payment or to
<br />do any act as and in the manner provided in any of the Loan Instruments, Beneficiary and /or Trustee,
<br />each in its own discretion, without obligation, may make or do the same in such manner and to such
<br />extent as either may deem necessary to protect the security hereof. Trustor shall, immediately upon
<br />demand therefore by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection with
<br />the exercise by Beneficiary of the foregoing rights, including, without limitation, costs of evidence of title,
<br />court costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten
<br />(10) days of written demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken
<br />or damaged by reason of any public improvement or condemnation proceeding, or in any other manner
<br />including deed in lieu of Condemnation ( "Condemnation "), or should Trustor receive any notice or other
<br />information regarding such proceeding, Trustor shall give prompt written notice thereof to Beneficiary.
<br />Beneficiary shall be entitled to all compensation awards and other payments or relief therefore, and shall
<br />be entitled to make any compromise or settlement in connection with such taking or damage. All such
<br />compensation, awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds ") are
<br />hereby assigned to Beneficiary; and Trustor agrees to execute such further assignments of the Proceeds
<br />as Beneficiary or Trustee may require.
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a
<br />written instrument executed and acknowledged by Beneficiary, mailed to Trustor and recorded in the
<br />County in which the Trust Estate is located and by otherwise complying with the provisions of the
<br />applicable law of the State of Nebraska substitute a successor or successors to the Trustee named herein
<br />or acting hereunder.
<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and
<br />binds all parties hereto, their heirs, legatees, devisees, personal representatives, successors and assigns.
<br />The term "Beneficiary" shall mean the owner and holder of the Note, whether or not named as Beneficiary
<br />herein.
<br />8. INSPECTIONS. Beneficiary, or its agents, representatives or workmen, are authorized to
<br />enter at any reasonable time upon or in any part of the Trustee Estate for the purpose of inspecting the
<br />same and for the purpose of performing any of the acts it is authorized to perform under the terms of any
<br />of the Loan Instruments.
<br />9. EVENTS OF DEFAULT. Any of the following events shall be deemed an event of default
<br />hereunder:
<br />(a) Trustor shall have failed to make payment of any installment of interest, principal, or principal
<br />and interest or any other sum secured hereby when due; or,
<br />(b) There has occurred a breach of default under any term, covenant, agreement, condition,
<br />provision, representation, or warranty contained in any of the Loan Instruments.
<br />10. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should an event of default
<br />occur, Beneficiary may declare all indebtedness secured hereby to be due and payable, and the same
<br />shall thereupon become due and payable without any presentment, demand, protest, or notice of any kind.
<br />Thereafter the Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br />appointed by a Court and without regard to the adequacy of its security, enter upon and take possession
<br />of the Trust Estate, or any part thereof, in its own name or in the name of Trustee, and do any acts which
<br />it deems necessary or desirable to preserve the value, marketability or rentability of the Trust Estate, or
<br />part thereof or interest therein, increase the income therefrom or protect the security hereof, and with or
<br />without taking possession of the Trust Estate, sue for or otherwise collect the rents, issues and profits
<br />thereof, including those past due and unpaid, and apply the same, less costs and expenses of
<br />operation and collection, including attorney's fees, upon any indebtedness secured hereby, all in such
<br />order as Beneficiary may determine. The entering upon and taking possession of the Trust Estate, the
<br />collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive
<br />any default or notice of default hereunder or invalidate any act done in response to such default or
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