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201400196
<br /> DEED OF TRUST
<br /> Loan No: 8'1004480 (Continueci) Page 2
<br /> perform all their respecxive obligations under tf�e fVote,ihis Deed of Trust, and the fielated Documents.
<br /> POSSESSION ANU NlAINTENAt�CE OF THE Pk�OPERTY. Borrower and �rustor agree that Borrower's and Trustor's
<br /> possession and use af the Property shall be governed by the followi�g provisions:
<br /> Possessimn and Use. Cfnti[ the occurrence of an Event of Default, Trustor may {1} remain in possession and
<br /> control of ihe Property; i2? use, operate or manage the Property; and 43] collect the RenYs from the Proparty.
<br /> Duty to Maintain. Trustor shall maintain the Property in tenantahle condition and promptly perform all repairs,
<br /> replacements, and maintenance necessary to preserve its value.
<br /> Compliance With EnuEronmenta! Laws. Trustar represents and warrants To Lender that: i11 During the period of
<br /> Trustor's ownership of Yhe Property, there has been no use, generation, 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 beiie�e that there has been, except as previously disclosed to and
<br /> acknow[edgeci 6y Lender in writing, {aj any breach or violation of any Environmental Laws, {b} any use,
<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 Pro�erty, or ic) any actual or
<br /> threatened litigation or claims of any [cind by any person relating to such matters; and (3) �xcept as psevSously
<br /> disclosed to and acknowledged by Lender in writing, {a] neither Trustor nor any tenant, contracYor, agent or other
<br /> authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or reEease any Hazardous
<br /> Substance on, under, about or from the Property; and [h] any such activity sF�alE be conducted in compliance with
<br /> aEl appGcable federal, state, and local laws, regufations a�d ordinances, including without limitation a[I
<br /> Environm�ntal Laws. Trusior autharizas Lender and its agents to enter upon the Property to make such
<br /> inspec#ions and tests, at Trustor's expense, as Lender may deem appropriate to de#ermine complia�ce of the
<br /> Property with this section of the Deed of 7rust. Any inspections or tests made by Lender shall be for Lender's
<br /> purposes only and shal] not be construed to create any responsibility or]ia6ility on the part of Lender to Trustor ar
<br /> to any other person. The represen#ations and warranties contained herein are based on Trustor's due diligence in
<br /> investigating the Property for Hazardous 5u�stances_ Trustor hereby {1] reEeasas and wai�es any future claims
<br /> against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or ather costs under
<br /> any such ]aws; and i21 agrees to indemnify, defend, and ho[d harmless Lender against any and all daims, losses,
<br /> liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain ar suffer resulting from
<br /> a breach of this section of the Deed of 7rust or as a consequence of any use, generation, manufacture, storage,
<br /> disposal, release or threatened release occurring prior to Trustar's ownership or interest in the Proper#y, whether ar
<br /> not the same was or shou[d have been known to Trustor. The pro�isions af this section of the Deeei of Trust,
<br /> including the obEigation to indemnify and defend, shall survive the payment of the lndebtedness and the satisfaction
<br /> and reconveyance of the I'sen of this Deed of Trust and shal[ not be affecYed by Lender's acquisition of any interest
<br /> in#he Property, whecher by foreclosure or otherwise.
<br /> Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nar commit, permit, or suffer any
<br /> stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the
<br /> foregoing, Trustor wil! not remove, or grant to any other party the right to remove, any timber, minerals (including
<br /> oil and gasl, coal, day,scoria, soil, gravel or rock products without Lender's prior written consent.
<br /> Removai o#Improvements. Trusior shall not demalish or remo�e any Improvements from the Real Aroperty without
<br /> Lender's prior writtert consent. As a condition to the remova] of any Improvements, Lender may require Trustor to
<br /> make assangements satisfaciory to Lender io replace such ]rttprovements with Improvements of at least equa[
<br /> valus.
<br /> Lender's �tight to �nter. Lender and Lender's agents and representatives may enter upon Yhe 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 /> cornplian�e with the terms and conditions of this Deed of Trust.
<br /> Compliance with Govemmental Requirements. Trustor shall gramptly comply with al] laws, orc[inances, and
<br /> regulations, now or hereafter in effect, of al] governmental authorities app[icable to the use or occupancy of the
<br /> Property, including without limitation, the Americans With Disabilities Act. Trustor may contest in good fai#h any
<br /> such [aw, ordinance, or reg�lation and withhold compliance during any proceeding, including apprapriate appeais,
<br /> so long as irustor has noiified 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 may require Trustor to post adequate security or a surety
<br /> bond, reasonably satisfactory to Lender,to protect Lender's interest.
<br /> Duty xo Protect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shal] do all other
<br /> acts, in addition to those acts set forth above in this section, which from�Che character and use of the Property are
<br /> reasonab[y necessary to proiect and preserve the Property.
<br /> DUE ON SALE-CONSEHT BY LENDER. Lender may, at Lender's option, declare immediately due and payab[e all sums
<br /> secured by tF�is �eed of Trust upon the sale or iransfer, wothout Lender's prior written consent, af al] or any part of the
<br /> Real Property, or arty interest in the Real Property. /a "sale or transfer" means the conveyance of Reaf Property or any
<br /> right, titEe or interest in the Real Property; whecher legal, beneficia[ or equitable; whether voluntary or involuntary;
<br /> whether by outright sa[e, deed, insta[Iment sale contract, [and contract, contract for deed, [easehoEd interest wit[� a
<br /> term greater chan tf�ree {3) years, lease-option contract, or by sale, assignment, or transfer of any beneficixl interest in
<br /> or to any land trust holdi�g tit[e to the Real Properky, or 6y any other method of eonveyance of an interest in the Rea[
<br /> Praperty. [f any Trustor is a corporation, partnership or limited liability company, iransfer also includes any change in
<br /> ownership of more than twenty-fi�e percent [25%} of�he vofsng stock, partnership interests or limited liability company
<br /> incerests, as the case may be, of such Trustor. However, this option shal[ noi be exercised by E,ender �f such exercise
<br /> is prohibited by federal law or by Nebraska]aw.
<br /> 'FAXES AND LIENS. The fo][owing provisions relating to the taxes arsd liens on the Property are part of this Deed of
<br /> Trust:
<br /> Payment. Trustar shalE pay when due {and in all events prior to del9nquency) all taxes, speciaE taxes, assessments,
<br /> charges lincluding water and sewer), fines and impositions levied against or on account of the Property, and shall
<br /> pay when due all claims for wor[c done on or for services rendered or material furnished to the Praperty. Trustor
<br /> shall ma9ntain tha Property free of all liens having priority over or equa]to the interest of Lender under this Deed of
<br /> Tr�[st, except for the lien of taxes and assessments not due, except for the Existing Indebtedness refierred ta
<br /> 6elow, a�d except as otherwise provided in this Deed of Trust.
<br /> Riyht to Contest. Trustor may withho[d 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 nonpaytnent, Trustor shall within fifteen {15] days after the lien arises or, if a lien is filed,
<br /> within fifteen ;151 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 sufficien#corporate surety bond or other security satisfiactory to Lender in an
<br /> amount suf�icient to discharge the lien plus any costs and attorneys' fees, or other charges that could accrue as a
<br /> result af a foreclasure or sale under the lien. In any cantest, 7rustor s[�al[defenc{itself and Lender and shall satisfy
<br /> any adverse judgment before enforcement againsi the Property. Trustor shall name Lender as an additional obligee
<br /> under any surety bond fumished in the contest proceedings.
<br /> E�idence of Payment. Trustor sha[I upon demand furnish to Lender satisfactory e�idence of payment of the taxes
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