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��14�4575
<br /> DEEa �F TRUST
<br /> . ���ntinu�d} � � Page 2
<br /> whether by autright sale, deed, installment sale contract, land contract� cantract for deed, laasehold interest with a
<br /> term greater.than 'three �3� years, Iease-option contract, or by sale, assignment, vr trans�er o# any beneficial interest in
<br /> or to any land trust holding tit�e t� the Real Property, or by any ather method o# cvn�eyance of an interest in the Real
<br /> Property. Howe�er, th;s optivn shall not be exercised by Lender if su�h exer.cise is prohibited by federal �aw or hy
<br /> Nebraska �aw. . . . : •
<br /> TA]CE5 AND LfENS. The following pro��s�ons relating to the taxes and liens �n the Property �re part of this ❑eed of
<br /> Trust:
<br /> Payment. �Trustor shall pay when due {and in ai�e�ents prior to delinquency� al!taxes, special taxes, assessm ents,
<br /> charges tincluding water and sewer}, fines and im pos�tions le�ied against or on account af the Property, arrd shall
<br /> pay when due all claEms for wark done o.n or for ser�ices rendered or material furnished tv the Property. Trustvr
<br /> shall maintain the Property free of af! �iens ha�ing priority v�er or eq�al ta the interest o� Lender"under this �eed of
<br /> Trust. except for the lien of taxes and assessments not due, except far the Existing Indebtedness referred #o
<br /> , belavv,and except as otherwise pro�ided in this �eed of Trust. . �
<br /> . PR�RERTY DAMA�E INSURANCE. The follawing pro�is�ons relating to insuring the Property are a part of th�s aeed of
<br /> Trust. � . ,
<br /> Maintenance of Insurance. Trustor shal[ pr��ure and maintsin poki�ies of fire insur�nce w�th standard�extended
<br /> co�erage eridorsements on a replacement-basis for the fu�i_�nsurahie �alu� co�ering all lmpro�ements on the Real
<br /> Property in an amount sufficient ta a�o�d applicatian of any coinsurance clause, and with a standard m�r�gagae
<br /> cfause in fa�ar of Lender,together w��h such vther haaard and ��ability insurance as Lender may reasonal�ly require.
<br /> P�iic�es shall�ba vuritten in form, amounts, cv�erages and basis reasonably accep°table to Lender and issued by a
<br /> company nr c�mpanies �reason�b�y�acceptable ta Lender. . Trustar, upon request ❑f Lender, will deli�er to Lender
<br /> frvm time to time the policies or certificates of insurance in farm setis#actary to Lender, including stipulativns that
<br /> co�era�es will not be cancell�d ar diminished without at least ten �1�) days prior written notice to Lender. Each
<br /> insurance poticy also shall i�clude an endorsement pro�iding that ca�erage in fa�vr vf Lender wil� not be impaired
<br /> in any way by any act� amis�i�n or �detault o�Trustor or any ather person. Should the Rea� Pro,perty be facated in
<br /> an area d�signated by the,Adr�inistrator ❑f the Federal Emergency Management Agency as a specia� fiovd hazard
<br /> area, Trustor agrees ta obtain and ma�ntain Federal Flood �nsurance, if a�ailable, within 45 days after notice is
<br /> gi�en by Lender that the Pr�perty is located in a special fload hazard area, for the fuli unpa�d p�incipal balance of
<br /> the �oan and any prior liens an the property securing the �oan, up to the maximum poiicy limits set under the
<br /> National Flvod Insurance Prngram,or as ot�erwise required by Lender,and to maintain such insurance for the term
<br /> af the laan.
<br /> LENDER'S EXPENDITURES. If Trust�r faiis 4A}, to keep the Praperty free af all taxes, liens, security interests,
<br /> encumbr�nces, and other claims, {gy to pro�ide any required insurance ❑n the Property, {C) to make repairs ta the
<br /> Prvperty or tv comply with any abligat�on �a maintain Existing Indebtedness in good stand�ng as required below, then
<br /> Lender may do sv. I� any action ar pro��eding is cvmmen�ed that would materially �f�fect Lender's interests in #ha
<br /> Property, then Lender on Trustor's behaEf may, but is nat required tv, take any action that Lender belie�es to be
<br /> apprapriate to pratect Lender's interests. All expenses incurred vr paid by Lender 'For such purposes will then bear
<br /> interest at the rate charged under the Nvte from the da�e incurr�d �r paid by Lender to �he date of repayment by
<br /> Trustor. All such expenses will become a part af the Indebtedness and, at Lender's option, will {A} be payable on
<br /> demend; �B� be added to the balance af the Note and be apportioned among and be payable with any installment
<br /> payments to become due during ei#her �'1� the term of any applicable insurance policy; ❑r �2} the remaining term of
<br /> the Note;or �C) be tr�ated as a ba�laon payment which will be d�e and payable at the Note's maturity. �
<br /> WARRANTY;DEFENSE �F TITLE. The�ol�owing pro�isions relating ta ownership of the Propert�are a part of this ❑ead
<br /> of Trust: � .
<br /> Title. Trustor warrants that: �a� Trustor holds good and marketaale title of record to the Property in fee simple,
<br /> free and.clear of all liens and encum brances vther than thase set forth in the Real Property description ar in the
<br /> Existing Indebtedness sectivn belvw or in any title insurance pa[icy, titla report, or final title opinion issued in fa�flr
<br /> �f, and accepted �y, Lender in connect�on with this D.ead of Trust,=and �by Trustor has the �ull right, pawer, and
<br /> authvrity ta exe�ute end deli�er this Deed of Trust ta Lender. � �
<br /> Defens� of Ti#1e. Subject �o the exceptian in the p�ragraph abo�e, Trustvr warran�s and will �ore�er defend the
<br /> title ta the Prvperty against#he �awful claims af all persons,
<br /> EXtSTING INDEBTE�NESS. The foliowing pro�isians concerning Existing lndebtedness are a par't of#his Deed of Trust:
<br /> Existing Lisn. The lien of this ❑eed o��T�ust securing the Indebtedness m�ay be secandary and in�erior to an
<br /> exis��ng lien. Trustar expressly c��enants and agrees to pay., or see ta the payment of,the Existing �ndebtedness
<br /> and t❑ pre�ent any default on such indebtedness, any default undsr the instruments e�idencing such indebtedness,
<br /> or any defauft undar any security documents far such indebtedness.�
<br /> EVENTS �F DEFAULT. At Lender's optian, Trustor wil� be in default under th�s ❑eed of Trust if any �f the fvllowing
<br /> happen: :
<br /> Paymen#Def�ult. Borrawer fails ta make any p�ymant when due under the Indebtedrless.
<br /> � Break �#her Promises. Borrower or Trustor breaks any pramise made to Lender vr feils tv perform promptly at the
<br /> tim e and stri�tly in th a m an n er pra�ided in th is �eed of Trust or in any agreem ent re�ated ta th is Deed af Trust.
<br /> Compliance De�fault. Failure to camply with any ather term, abligation, co�enant ar cond�t�on cvntained in tlli5
<br /> aeed of Trust,the Note or in any o#�he Related Documen�s.
<br /> Default on ather P�yments. Failure of Trustvr within the time required by this �eed of Trust to make any payment
<br /> for taxes or insurance,or any other payment necessary to prevent fiiing of vr to effect discharge of any�ien.
<br /> Death ar�nsal�ency. The death of Borrower or Trustar,the insal►►ency of 6orrawer or Trustor,the appointment af
<br /> a receid�r far sny part of Borrvwer's or Trustor's property, any assignment far#he benefit of creditors,any type �f
<br /> C1'Bdital" WQCICOt1t, or the cpmmencement of any praceeding under a�y bankruptcy or insol�ency laws by or against
<br /> Borr�we� ❑r Trustor.
<br /> Events Affecting �uarantvr. Any of the preceding e�ents occurs ►rvith respect to a�ny guarantor, endorser,surety,
<br /> �r accomm odation party of �ny of tha Indebtedness or any guarantor, endorser, sure#y, ar �ccom modation party
<br /> dies or be�omes incompetent, or re�okes or disputes the �a�id�ty vf, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> Insecurity. Lender in good faith beiie�es itself insecure. •
<br /> Existing lndebtedness, The payment of any�nstallment of principal vr any interest on the Existing Indebtedness is
<br /> not made w�thin the#ime required by the promissory note e�idencing�such indebtedness, vr a default occurs under
<br /> the.instrument secur�ng such indeatedness and is not cur�d during any applicatale grace period in such instrument,
<br /> ar any suit or other action �s commenced to foreclvse any existing lien on the Property.
<br /> Right to Cure. If any default. other�han a default in payment is curable and if Trustor has not heen gi�en a notice
<br /> af a breach of the same prv�isian a�this Deed ofi Trust within the preceding twel�e �12� months. it may be cured if
<br /> Trustor, after Lander sends writ�en notice to Borrower demanding'cura ❑f such daf�ult: t1} �ures the defsult
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