|
��14�5591
<br /> I�EEC� C]F TRU�T
<br /> ��ant�nued� �a�e �
<br /> secured by thi� Deed a�Trust upon �he saie or transfer, without Lender`5 pf ID�'W�"I��PrI CDCISG-'I'1�, o�a�i or any part o�the
<br /> Real Property, or any inter�st in the Reaf Proper�y, A "sale or tran�fer" means the canueyance o# Real Property or any
<br /> right, tit�e ar tnterest in the Rea1 Property; w�e�her legai, 1�ene�icial or equi�able, vvhe#her �olunta�y or in�o#un�cary;
<br /> whether by �utrigl7t sale, deed, installment sale contract, land �ontract, �antract for deed, leaseho�d interest with a
<br /> term greater �han thr�� 43; years, lease�option c�n�ra�t, ar by�ale, assignment, or trans��r of any benefiCial in#eres� in
<br /> ❑� to any land trust hoiding titie to the Real Prop�r�y, ❑r by any other methvd �f can�eyance ❑f an interest in the R�al
<br /> Property. Howe�er, this option sha11 not b� exercised by Lender i� such pxercise is prahibited by fiederal law or by
<br /> IVebraska iaw,
<br /> � TA�CES AND LIENS. 7he �oll�wing pra�isians r��a�ing t� th� �axes and liens vn �he P�oper�V are par� af this C�eed n�
<br /> Trust:
<br /> Payment. Trus�vr sha�l pay wMen due �and in a��e�ent� privr�n delinquencyy all taxes, special taxes, assessm�nts,
<br /> charges �inciuding water and sewer�, fines and impvsitions le�ied ag�inst or an accaunt a�the Prape�ty, and shall
<br /> pay when due all claims for wark d�ne an or for ser�i��s rend�red ❑r ma�erial turnished to the Prvper�y. Trus�or
<br /> shall maintain#he Praperty�ree o#all liens ha�ing priori�y over ar equal �a�the �n�erest af L�nder under this ❑eed of
<br /> Trust, except for the �ien af taxes and assessmen�s not due and ex�ept as vtherwise pro�ided in this Deed of
<br /> Trust.
<br /> PRC3PERTY C3A�AGE INSURAN�E, The follvwing prv�isions relating �o insuring the Property are a part o�this beed of
<br /> Trust.
<br /> 1511ainten�nGs af Insurance, Trus�or shalr pracure and maintain policies o� fiire insurance with standard extended
<br /> ca�erage endorsement5 an a repla�ement hasis for tihe �full insurab�e �alue c��er�n� all Improvemen�� on the Rea�
<br /> Proper�y in an amaunt sufficien� �� a�oid applEcation of any coinsurance claus�, and with a �tandard mar�ga�ee
<br /> clause in faWflr a� L�nder, ta�ether w�th such other ha�ard and liability insurance as Lender may reasvnably re��ire.
<br /> PoliGies sha11 be �rvritten in fvrm, amoun�s, �o�erages and basis reasonably acce�table tQ Lender and issued by a
<br /> company or companies reasvnably accepta�le tv Lender. Trus�or, upon request o� L�nder, �vitl de�i�er �o Lender
<br /> from time to time �he poficies ar cer���icates o� insurance in farm sa�isfactory to L�nder, �n�luding s�ipulations �hat
<br /> co�erages will not be c�n��lled or dimin�shed with�ut at least ten �10y days prior wri�ten n�t�ce to Lender. Each
<br /> insurance po�icy al�o shall inciude an Pndor��ment pro�iding that ca�erage in fa�ar of [�ender wil� no� �e impaired
<br /> in 7nv W r�y �3y al�y aCt, omission nr default of�"rustor or any vther person. ShQuld tl�e Rea� Praperty be �oca�ed in
<br /> an are� designa�ed by the Adm�nistrator vf the F�de�ai Em��gency Manag�ment A��ncy as a speci�l f�ood haz�rd
<br /> a�ea, Trus�or agrees to nhtain and maintain Federa� F�ood Insur�nce, i� a��i�able, for �he ful� unpaid principaf
<br /> �aalan�e of the loan and �ny prior iiens�n�he praperty se�uring the loan, up t❑the maximum poRicy �imits set unde�
<br /> the N�tional Flood lnsuran�e Program, or as otherwise t�equirPd by L�nder, and to main�ain such insurance far the
<br /> term o�the loan.
<br /> LENpER'S E�PEN�IT�F�E�. If Trustar fail� �A3 to keep the Pr�pe�ty free �� al! �axes, li�ns, se�urity interests,
<br /> en�Um�rances, and ❑�her �laims, t8� to prnvide any required insur�nce an�he Proper�y, or tCy �o make repairs to the
<br /> Property then Lender may do sa, !f �ny action or proceeding is commenced �hat would m�terially af#ect Lender's
<br /> int�res�s in the P�operty, �hen LEnder on Trustar"s b�half may, bu� is nvt required ta, �ake any activn tha� Lender
<br /> belie�es ta be apprapriate ta pratect Lender's interests. All expenses incurred ar paid hy Lender far such purpases wil�
<br /> then bear interest at the rate charged under the Note firom the date incurred or paid by Lender to the dat� �f repayment
<br /> by Trustor. All such expenses will become � part vf�he Indebtedness and, a�k Lender's ❑ption, wil� �A) be paya�le an
<br /> dEmand; {B� be added to the ba�ance af th� Note and be apportioned amvng and be pay�bie with �ny instailment
<br /> paymen�s to become due during eith�r �1 y the term af any appli�able insurance policy; ❑r ��� �he �emaining te�m of
<br /> the Nate; Qr �C} be treated as a balloon payment which w�Il be du�and payable at the Note's ma�urity.
<br /> WARRANTY, DEF�NSE�F 71TLE. Th��o�low�ng pr��isions re�ating ta ownership af the property are a�part vf this ❑e�d
<br /> o�Trust:
<br /> Ti�tle. Trustor warr�nts �hato �ay Trustvr holds g�od and marketable titie vf rec�rd tv the Prvpe�ty in #ee simple,
<br /> �
<br /> �ree and c��ar ❑f ai� li�ns and encumbranc�s ather �han thas� set farth in �he R�al Proper#y desc�'iption or in any
<br /> ti�le insurance palicy, t�tl� rep�rt, or fina� �i�le opininn issued in fa�ar vf, and a�Cepted by, Lender in cannection
<br /> with �his Deed a�f Trust, and {by Trustar has the full rfght, paw�r, and authority t❑execute and deliuer�his ❑�ed o�
<br /> Trust�o Lender.
<br /> D��anse a# Ti�le. Subjec� to the excep�ian in the paragrap�t a�o��, Trus�c�r war�ant� and wili fare�er d�fend the
<br /> title to th� Property agains�the law�u!c�aims af all persons.
<br /> EVENTS DF ❑EFAULT. At Lender's op�ion, Trustar will be in defauit under �h�s Deed o� Trust i� any o� �he fo�lowing
<br /> happen:
<br /> Payment f3efaul�. Trustor�ai(s tv make any payment wh�n due under the lndebtednes�.
<br /> �reak �ther Pramises. Trustar breaks any promise made to Lender ❑r faiis to per�orm promptly a� the time and
<br /> strictly in the manner pro�ided in this Deed of Trust�r in any agre�men� r�lated fiv this C]eed of Tru�t,
<br /> �ompliance De�ault. Failure ta comply with any oth�r term, ob(igaiion, cv�enant ar condi�i�n con��ined in this
<br /> Deed of Trust, �he IVvte or in any of�he Rel�ted Documents.
<br /> Default an �ther Payments. Failure of Trust�r within the time required by th�s peed of Trust�o malce any payment
<br /> for taxes ar insurance, Qr any ather payment necessary�o pre�ent f�ling�f or to effect discharge of any�ien.
<br /> Death vr Insol�ency. Th� death ❑f Trustor, the insol�ency vf Trusio�, the appointment vf a recei�er for any par�of
<br /> Trustor's proper�y, any assignmen� for the �ene�i� a� creditars, any type af �redi�or workout, ar the
<br /> commencement o�any praceeding under any banlcrupfiGy ar�nsa��en�y iaws by or aga�nst Trus�or.
<br /> E�en�s Af�ecting �uaran�or, Any v# the prec�d�ng e�enfis �ccurs with resp�ct to any guarantor, endorser, surety,
<br /> or accommoda�ian party ofi any af the lndeb�edness or any guarantor, endorser, sure�y, or a�cQmmodation par�y
<br /> dies or hecomes in�ompet�n�, ❑r revol�es ar disput�s the validity of, o� liahility unde�, any Guaranty nf the
<br /> tnrir�I,t�r�n�a�c
<br />
|