|
201400262
<br /> DEED OF TRUST
<br /> Loan No: 10008363 (Continued) Page 2
<br /> against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under
<br /> any such laws; and (2) agrees to indemnify, defend, and hold harmless Lendar against any and al1 claims, losses,
<br /> liabilities,damages, penalties,and expenses which Lender may directly or indirectly sustain or suffer resulting from
<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 threetened release occurring prior to Trustor's ownership or interest in the Property,whether or
<br /> not the same was or should have been known to Trustor. Tha provisions of this section of tha Deed of Trust,
<br /> including the obligetion to indamnify and defend, shall survive the peyment of the Indebtedness and the satisfaction
<br /> and reconveyance of 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 /> Nuisance, Waste. Trustor shall not cause, conduct or parmit any nuisance nor 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 will not remove, or grant to any other party the right to remove, any timber, minerals (including
<br /> oil and gas),coal, clay,scoria,soil,gravel or rock products without Lender's prior written consent.
<br /> Removal of Improvemarns. Trustor shall nat demolish or remove eny Improvements from the Rea!P�operty without
<br /> Lender's prior written consent. As a cor�dition to the remaval 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 /> valus.
<br /> Lende�'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 the Real Property for purposes of Trustor's
<br /> compliance with the terms and conditions of this Deed of Trust.
<br /> Compliance with Governmentaf Requirements. Trustor shall promptly comply with all Iews, ordinances, and
<br /> regulations, now or hereafter in effect, of ap govemmenta! authorities applicable to the use or occupancy of the
<br /> Property. Trustor mey contest in good faith any such law,ordinance,or regulation and withhold complianee during
<br /> any proceeding, including appropriate appeals, so long as Trustor has notified Lender in writing prio�to doing so
<br /> end so long as, in Lendar's sole opinion, Lender's interests in the Property are not jeoperdized. Lender may require
<br /> Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender,to protect Lender's interest.
<br /> Duty to Protect. Trustor agrees neither to abandon or leave 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 protect and preserve the Property.
<br /> DUE ON SALE-CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable afl sums
<br /> secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of ell or any part of the
<br /> Real Property, or any interest in the Real Property. A "sale or transfer" means the conveyence of Real Property or any
<br /> right, title or interest in tha Real Property; whether legal, beneficial or equitable; whether voluntary or involuntary;
<br /> whether by outright safe, deed, installment sale contract, lend contract, contract for desd, leasehold interest with a
<br /> term greater than three (31 years, lease-option contraot, or by sale, assignment, or transfer of any benaficial 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. Tha fopowing provisions �elating to the taxes and liens on the Property ere part of this Deed of
<br /> Trust:
<br /> Payment. Trustor shell pay when due (and in a!1 events prior to delinquency) all taxes,special taxes, assessments,
<br /> cherges (including water and sewerl, 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 materia! furnished to the Property. Trustor
<br /> shell meintain 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, except for the Existing Indebtedness referred to
<br /> below,and except as otharvvise provided in this Deed of Trust.
<br /> Right to Contest. Trustor mey withhold payment of any tex, essessment,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 aftef the lien arises or, if a lien is filsd,
<br /> within fifteen (151 days efter 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 tien plus any costs and attorneys' fees, or other charges that could accrue as a
<br /> result of a foreclosure or sale under ihe lien. In any contest,T�usior shall defend itself and Lender and shall satisfy
<br /> any adverse judgment before enforcement against the Property. Trustor shall name Lender as en additional obligee
<br /> under any surety bond furnished in the contest proceedEngs.
<br /> Evidenae of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes
<br /> or assessments and shaU authorize tha appropriate governmental official to deliver to Lender at any time a written
<br /> statement of the taxes and assessments ageinst the Property.
<br /> Notice of Construction. Trustor shall notify Lender at least fifteen (15) days before eny work is commenced, any
<br /> services are furnished, or any materials are supplfad 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 /> furn9sh to Lender advance assurances satisfactory to Lender that Trustor can end 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 ell 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,tagether with such other hazard and liability insurance as Lender may reasonably require.
<br /> Policies shall be written in form, amounts, coverages and besis reasonably acceptable to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender
<br /> from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that
<br /> coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each
<br /> insurance policy also shall include an endorsement praviding that coverage in favor of Lender will not be impaired
<br /> in any way by any act, omission or default of Trustor or any other person. Should the Real Property be located in
<br /> an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br /> Trustor agrees to obtain and maintein Federal Flood Insurance, if available, for the full unpaid principal balance of
<br /> the loan and any prior liens on ihe property securing the loan, up to the maximum policy timits set under the
<br /> National Flood Insurance Program, or as otherwise req�ired by Lender, and to maintain such insurance for the term
<br /> of the loan.
<br /> Appfication of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of loss (f Trustor fails to do so within fifteen (151 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 Propeny, or the restoration
<br />
|