|
��14���9�
<br /> DEED��F TRUST
<br /> Loan No: 35�4��997 �C�ntinued� Page 2
<br /> Prvper�y shall be gv�erned by the following pro�isions:
<br /> Possessian and Use. Until the occurrence of an E�ent �f Default, Trustvr may �1� remain in possession and
<br /> control of the Property; ��y use, operate or manage the Property; and �3y col�ect the Rents from the Property.
<br /> Duty to Maintain. Trustar shall maintain the Property in tenantabfe condition and promptiy perform all repairs,
<br /> replacements, and maintenance necessary to preser�e its �alue.
<br /> CompEian�e With En�ironmental Laws. Trustor represents and warrants to Lend�r that: �1 y During the period of .
<br /> Trustor's vwnership vf the Property, there has been no use, generation, manu�ac�ure, storage, treatment, d'isposal,
<br /> refease or threatened release ❑f any Hazardous Substance by any person on, under, about or from the Property;
<br /> 42y Trustor has no knowledg� of, or reason to belie�e that there has been, except as pre�i�usly disclosed to and
<br /> acknowl�dged by Lender in writing, taf any hreach or �iolation of any En�ironmental Laws, �b� any use,
<br /> g�n�ration, manufacture, storage, treatment, disposal, release or threatened reiease of any Hazardous Substance
<br /> on, under, about or frvm the Praperty by any prior owners or vccupants vf the Property, or �cy any actual or
<br /> threat�ned litigation or claims vf any kind by any person relating tv such matters; and �3y- Except as pre�iously
<br /> dFsc�osed ta and acknowiedged by Lender in w�iting, �af neither Trustor nor any tenant, contractor, agent or other
<br /> authorized user vf th� Property shal! use, generate, manufacture, stvre, treat, dispose �f�r re�ease any Hazardous
<br /> 5ubstance on, under, ahout or from the Property; and �b� any such acti�ity shall be conducted in compliance with
<br /> a�� applicable federai, state, and laca! laws, regulations and vrdinances, in�luding without limitation all
<br /> En�iranmental Laws. Trusto� auth�rizes Lender and Fts ag�nts to enter upon the Pr�perty to make such
<br /> inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine cvmpliance of the
<br /> Property with this section of the Deed of Trust. Any inspections or tests made by Lender shafl be for Lender's
<br /> purposes only and shall not be construed to create any responsibility or lia�+lity on the part of Lender tv Trustor or
<br /> to any other person. The representations and warranties contained herein are based vn Trustor's due diligence in
<br /> in�estigatin� the Prop�rty for Hazardous 5ubstances. Trustor hereby �1 y reieases and wai�es any future claims
<br /> against Lender fvr indemnity ar contributi�n in �he e�ent Trusto� becomes liabfe for cleanup ar other costs under
<br /> any such laws; and �2y agrees to indemnify, defend, and hoid harmless Lender against any and all c�aims, lasses,
<br /> liabilities, damages, penal�ies, and expenses which Lender may dire�tly vr indirectly sustain or suffer resulting from
<br /> a breach vf this sectian of the Deed of Trust or as a consequence of any use, generation, manufacture, storage,
<br /> dispasal, release or threatened release occurring prior to Trustor's ownership ar interest in the Property, whether or
<br /> not the same was or should ha�e been known to Trustor. The pro�isions of this section �f the Deed of Trust,
<br /> including the obligatian to indemnify and defend, shalf sur�i�e the payment of the Indebtedness and the satisfaction
<br /> and recon�eyance af the lien of th�s ❑eed of Trust and shall not he affected by Lender's acquisition af any interest
<br /> in the Property, wheth�r by fore�losure or atherwise.
<br /> Nuisance. INas#e. T�ustvr shafl nat cause, conduct or permit any nuisance nor commit, permit, or suffer any �
<br /> stripping of vr waste on or ta the Property ar any portion of the Property. Without limiting the generality o� the
<br /> foregving, Trustor wi�� not remo�e, or grant to any vther party the right to remo�e, any timher, minerals tincluding .
<br /> nil and gasf, cval, cRay, scaria, soi�, gra�el or rock products without Lender's prior written cvnsen�.
<br /> Remo�al of Imprv�ements. Trustor shall not demvlish or remv�e any fmpro�ements from the Real Property without
<br /> Lender's prior written cvnsent. As a condition to the remo�al af any �mprv�ements, Lender may require Trustor to
<br /> make arrangements sat�sfactory to Lender t❑ replace su�h Impro�ements with Impro�ements of at least equal
<br /> �a�ue.
<br /> L�nd�r's Right to Enter. Lender and Lender's agents and representati�es may enter upon the Real Property at a�l
<br /> reasonable times to attend to L�nder's interests and to inspect the Real Prvperty far purposes o# Trustvr's
<br /> c�mplian�e with the terms and cvnditions of this Deed of Trust.
<br /> Compiiance with GoWernmental Requirements. Trustor shall promptly cvmply with all laws, vrdinances, and
<br /> regufatians, now or hereafter in effect, of all go�e�nmental authorities applicahle tv the use or occupancy �f the �
<br /> Property, including without limitativn, the Ame�icans.With Disabilities Act. Trustor may contest in good faith any
<br /> such law, ordinanc�, vr regufatian and withhvld compliance during any praceeding, including appropriate appeals,
<br /> so long as Trus�or has nvtified Lender in writing prior tv doing s❑ and so Iong as, in Lend�r's svle opinion, Lender's
<br /> interests in the Property are not jeopardized. Lender may require Trustor to post adequate security or a surety
<br /> bond, reas�nably satisfactory t� Lender, to protect Lender's interest.
<br /> Duty to Protect. Trustor agrees neither to abandon or lea�e unattended the Property. Trustor shal� do all vther
<br /> acts, in additian tv those acts set forth abo�e in this sectian, which �rvm the �haracter and use of the Property are
<br /> reasonably necessary to prvtect and preser�e the Property. �
<br /> Construction Loan. If svme or all of the pro�eeds of the Ioan creating th� Indebtedness are ta he us�d tv�onstruct
<br /> or cvmplete constructian of any Impro�ements vn the Property, the Impro�ements shalE be completed no later than
<br /> the maturity date of the Note tor such earfier date as Lender may reasvnably establish� and Trustvr shall pay in full
<br /> all c�sts and expenses in connection with the work. Lender will disburse loan proceeds�under such terms and
<br /> conditions as Lender may deem reasanably ne�essary to insure that th� interest created by this Deed a#Trust shall
<br /> ha�e priority o�er all possible liens, inciuding those�f material suppliers and workmen. Lender may require, among
<br /> other things, that disbursement requests be suppflrted by re�eipted bills, expense affida�its, wai�ers �f liens,
<br /> constru�tion pr�gress repor�s, and such other documentation as Lender may reasonably request. - ,
<br /> DIJE�N SALE - CDNSENT BY LENUER. Lender may, at Lender's option, declare immediately due and payable all sums
<br /> secured by this Deed o�Trust upon the sale or transfer, withvut Lender's prior written consent, �f alE or any part�f the
<br /> Real Pr�perty, or any interest in the Real Proper�y. A "sale or transfer" means the con�eyanc� of }�eal Property or any
<br /> rRght, title vr interest in the Real Property; whether legal, beneficial or equitab�e; whether ��luntary or in�oluntary;
<br /> whether by outright sale, deed, installment sale contract, land contract, c�ntract far deed, leasehold interest with a
<br /> t�rm greater than three t3f years, lease-option cvntract, or by sale, assignment, or transfer ❑f any beneficial interest in
<br /> or to any land trust ho�ding title to the Reai Pr�perty; or by any other method vf �on�eyance of an interest in the Real
<br /> Proper�y. f# any Trustar is a �orporatian, partnership or limited iiability company, transfer also includes any change in
<br /> ownership of mare than twenty-fi�e per�ent �Z5°/oy af the �oting stock, partnership interests or limfted I�ability company
<br /> inte�ests, as the case may be, �f such Trustor. Howe�er, this option shall not be exercised by Lender i� such exercise
<br /> . is prahibited by federal faw or by Nebraska law.
<br />
|