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��14�1479
<br /> �EED �F TRU�T
<br /> ���nt�nu�d� P�g� �
<br /> Trustor becomes liable for cleanup or other costs under any such Iaws, and ��� agrees to indemnify, def�nd, and
<br /> ho[d harm[�ss Lender agains�k any and all c[aims and I�sses resulting from a breach�f this paragraph of the Deed of
<br /> Trust. This obligati�n to indemnify and de�end shall survi�e the payment o�the fndebtedness and the satis�action
<br /> o��his D�ed ❑f Trus�.
<br /> Cvns�ruction Laan. I�some or all�f the proceeds of�he Ioan creating�h� [ndebtedness ar�t� be used ta construct
<br /> or complete construction of any lmpro�emen�s on the Proper�y, th� improvements shall he completed no later than
<br /> the maturity date of�he Note �or such earlier date as Lender may reasonab�y es�ai�lish} and Trustor shall pay in ful�
<br /> all C05�5 and expenses in connection �rvith the work. Lender will disburse I�an proceeds under such terms and
<br /> canditions as Lender may deem reasanahfy necessary t� insure tha�the int�rest created by this Deed �f Trus�shall
<br /> have priori�y ov�r all possible liens, including those�f materia[supp[iers and vuorkmen. Lender may require, among
<br /> o�her things, tha�t dishursemen� requests be supported by receipted bills, expense affida�i�s, waiWers of liens,
<br /> c�ns�ruction progress reports, and such�ther documentativn as Lender may reasanahly request.
<br /> DUE �N SALE - G�NSENT BY LENDER. Lend�r may, at Lender's op�ian, dec�a�e immediately due and payable all sums
<br /> secured by this Deed of Trus�upon the sale or�ransfer, withau�Lender's pri�r wri�ten �onsent, of all vr any par�t of the
<br /> Real Property, or any in�erest in�he Rea� Property. A "sale or transfer" means the conveyance of �ieal Property�r any
<br /> right, title vr in�erest in th� Real Praperty; whe�her fegal, beneficial or equi�able; whether �olun�ary �r in�olun�ary;
<br /> whether by outright sale, deed, ins�allmen� sale contract, land contract, c�ntract for deed, leasehold in�er�st with a
<br /> term greater than three �3) years, [ease-option contract, or by sale, ass�gnment, �r transfer of any bene�icial interest in
<br /> or�o any land trus� holding t�tle to the Rea1 Property, or by any other method of con�eyance of an interest in the Real
<br /> Pr�perty. Howe�er, �his option sha�� nvt be exercised by Lender i# such exercise is prohibi�ed by federal law or by
<br /> N�hraska law.
<br /> TA�ES AND L�EiVS. The �o(�awing pra�isions relating t� the �raxes and liens an the Pr�perty are part of this Deed of
<br /> Trust:
<br /> Paymen�. Trust�r shall pay when due �and in all e�ents prior to delinquen�y} a�1 taxes, special taxes, assessments,
<br /> charges �including wafier and sewer}, fines and imp�sit�ons le�ied against or on acc�unt o-�the Property, and sha�[
<br /> pay when due all claims for work done on �r f�r se���ces rend�r�d or mate�ial furnished to �he Property. Trus�ar
<br /> shall maintain the Property free of all fiens ha�ing priority��er or equal�to the interest o�Lender under this Deed of
<br /> Trust, except for �he fien o� taxes and assessmen�s no� du� and �xcept as otherwise pro�ided in this Deed fl�
<br /> Trust.
<br /> PR�PERTY DAMAGE INSURANCE. The following provisions rela�ing to insuring the Praper�y are a part of this Deed of
<br /> Trus�.
<br /> 11![aintenance o� 1nsu�ance. Trus�or shalC procure and maintain policies o� fire insurance with standard ex�ended
<br /> coverage endorsemen�s vn a replacement basis for the �rull insurable �alue cover�ng all lmpr�vements on the Real
<br /> P�oper�y in an am�unt sufficien� to aWoid applica#ion of any cQinsurance clause, and wi�h a s�andard m�r�gagee
<br /> clause in fa�or of Lender, tvgether with such other hazard and fiability insurance as Lender may reasanahly require.
<br /> Policies shall b� written in form, amounts, co�erag�s and basis reasonab[y acceptak�le to Lender and issued by a
<br /> c�mpany or companies reasanab[y acceptabl� to Lender. Trustor, up�n request a� Lender, will de���er to Lender
<br /> �rom time ��time the po[icies or cer�ificates o�insuran�e �n form satis�actory ta Lender, including s�ipulati�ns that
<br /> co�erages will not be �ancelled ❑r diminished wi�hout at leas�ten ���� �ays priar written no�ice to Lender. Each
<br /> insurance policy a�so shall include an endorsement providing tha� co�e�age �n fa�or of L�nder w�(� not be impaired
<br /> in any way by any act, om�ssion or de�au�t��Trus�ar or any other pers�n, Should �he Real Pr�perty be ioca��d in
<br /> an area designat�d �y the Directar of the Federal Emergency Management Agen�y as a special flaod hazard area,
<br /> Trustor agrees to obtain and mainta�n Federal Flood [nsurance, if a�aila�le, for the full unpaid principal balance o�
<br /> the loan and any pr�or l`rens an fihe property securing the laan, up t� the maximum policy limi�s set und�r the
<br /> Na�ional F�ood Insurance Program, or as o�herwise required by Lender, and �o maintain such insuran�e for the term
<br /> of�he [�an.
<br /> LENDER'S EKPENDITURES. !f Trus�or �ails tAy to keep the Property free of al[ �ax�s, liens, security int�rests,
<br /> encumbrances, and other claims, {g� tfl pro�ide any required insurance on fihe Property, or {�} t� make repairs t❑the
<br /> Property then Lender may dv so. lf any action �r proceed�ng is commenced �hat would mater�a�Iy affe�� Lender's
<br /> interests in �he Fr�p�rty, �h�n L�nd�r �n Trustar's behal� may, but is nat required to, �ake any ac�ian �hat Lender
<br /> be�ie�es to be appropriate to prote�t Lender's inter�sts, All expenses incurred ar paid by Lender f�r such purposes wi�(
<br /> then bear in-�erest at the rate �harged under the Nvt� from the da�e incurred or paid by Lender to the date of repaymen-t
<br /> by Trus�or. All such expenses will become a part ofi the Indebtedness and, at Lender's opti�n, will 4A3 be paya�le on
<br /> demand; �B} be added t� the balance o� the N�'�e and be appa��ioned among �nd be payable with any installment
<br /> paym�nts ta hecome du� during �ither �'�} the term of any app[icab[� insuran�e policy; or {�} the remaining te�-m o#
<br /> the Note; or {C} be treated as a ballQon payment which will be due and payable a��he N�te's maturity.
<br /> VVARRANTY; DEFENSE�F TITLE. The f�[[�w�ng pra�isions re�ating to ownership of the Proper�y are a part af this Deed
<br /> of Trust:
<br /> Tifle. Trus�tor warran�s tha�: {a} Trus�ar holds good and marketable �i�le o� record to the Property in fee simple,
<br /> free and �lear of aff [iens and encumhrances oth�r than th�se s�t f�rth in the F�ea� Property descrip�ion ar in any
<br /> �i�l� insurance policy, tit�e report, or fina! title �pinf�n issued in fa��r �f, and accepted �y, Lender in connecti�n
<br /> wi-�h this Deed ❑f Trust, and {h� Trustor has�he�u(( right, power, and au�hori�y ta execu�te and deliWer this ❑eed o#
<br /> Trus��o Lender,
<br /> Defense o� Title. Subj�ct �❑ the ex�eptivn in the paragraph aboWe, Trustor warrants and will f�reWer defend the
<br /> �itle to the Prop�rty against the lawful claims of all persons.
<br /> EVENTS DF DEFAULT. At Lender's opti�n, T�ustor wi[� �e in de�Fault under this �eed �f Trust if any of the -�o�Iowing
<br /> happen:
<br /> Paym�n�Defaul�. Trus�or fai(s to mak� any payment when due under the lndebtedness.
<br /> Break �ther Pr�mi�es. Trust�r breaks any promise rnade to L�nd�r �r fails to perfvrm promptly at the tim� and
<br /> strictly in the manner prov�ded �n this D�ed❑�Trust or in any agreement related to this Deed of Trus�.
<br /> Compiiance Defauit. Failure t� camply with any other term, obliga�ion, co�enan� or condi�ion contained in this
<br /> Deed ��€Trust,the Note or in any of the Related Dvcurnents.
<br /> Defau[t on❑�her Payments. Fai[ure of Trustor within�he time required I�y this aeed of Trus�ta make any payment
<br /> f�r taxes or insurance, or any o�her paymen�necessary to pre�ent�iling of or to effec�discharge of any[ien,
<br /> Qeath or InsolWency. The death o-�Trustvr, the insQl�ency o�Trus-t�r, the appvin�ment o�a recei�er for any par�o�
<br /> Trustar's property, any ass�gnment �or the benefit �f creditors, any �ype of creditar workou�, or the
<br /> commencemen�af any proceedin� under any bankruptcy ar insol�ency laws by or against Trustor,
<br /> Events A��ct�ng Guarant�r. Any vf�h� p�ecedin� e�ents ❑ccurs wi�h respec�t� any guarantor, end�rs�r, surety,
<br /> or accommoda�ion par�y o� any of the lndebtedness ar any guarantor, endvrser, surety, ar accommodatian party
<br /> dies or b�c�m�s incompetent, or re�okes or dispu�es the va[idity o-�, or liability under, any Guaranty of th�
<br /> Indeh�edness.
<br /> lnsecuri�y. Lender in g��d faith believes itseff insecure.
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