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2000�'Q��1�7' t � �� . . .
<br /> C. Sums Advanced. All sums advanced and e�cpenses incurred by Lender under the terms of this Security • :
<br /> Instrument. �
<br /> 4. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due and in
<br /> accordance with the terms of the Secured Debts and this Security Instrument.
<br /> 5. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the estate conveyed by :
<br /> this Security Instrument and has the right to irrevocably grant, convey and setl the Property to Trustee, in trust,
<br /> with power of sale. Grantor also warrants that the Property is unencumbered, except for encumbrances of
<br /> record.
<br /> 6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, securify agreement or other
<br /> lien document that created �,prioc �e�urit� interest or encumbrance on the Property, Grantor agrees:
<br /> A. To make all paymer�ts v�I��ri'��ue and to perform or comply with all covenants. ,
<br /> B. To promptfy deliver to Lender any notices that Grantor receives from the holder.
<br /> C. Not to allow any modification or extension of, nor to request any future advances under any note or
<br /> agreement secured by the lien document without Lender's prior written consent.
<br /> 7. CLAIMS AGAINST TITLE. Grantor will pay all taxes, assessments, liens, encumbrances, lease payments,
<br /> ground rents, utilities, and other charges relating to the Property when due. Lender may require Grantor to
<br /> provide to Lender copies of all notices that such amounts are due and the receipts evidencing Grantor's
<br /> payment. Grantor will defend titte to the Property against any claims that would impair the lien of this Security
<br /> Instrument. Grantor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Grantor
<br /> may have against parties who supply labor or materials to maintain or improve the Property.
<br /> 8. DUE ON SALE. Lender may, at its option, dedare the entire balance of the Secured Debts to be immediately
<br /> due and payable upon the creation of, or contract for the creation of, a transfer or sale of the Property. This
<br /> right is subject to the restrictions imposed by federal law governing the preemption of state due-on-sale laws, as
<br /> applicable.
<br /> 9. TRANSFER OF AN INTEREST IN THE GRANTOR. If Grantor is an entity other than a natural person (such as a
<br /> corporation or other organization), Lender may demand immediate payment if:
<br /> A. A beneficial interest in Grantor is sold or transferred.
<br /> B. There is a change in either the identity or number of inembers of a partnership or similar entity.
<br /> C. There is a change in ownership of more than 25 percent of the voting stock of a corporation or similar
<br /> entity. :
<br /> However, Lender may not demand payment in the above situations if it is prohibited by law as of the date of this
<br /> Security Instrument.
<br /> 10. WARRANTIES AND REPRESENTATIONS. Grantor makes to Lender the following warranties and
<br /> representations which will continue as long as this Security Instrument is in effect:
<br /> A. Power. Grantor is duly organized, and validly existing and in good standing in all jurisdictions in which
<br /> Grantor operates. Grantor has the power and authority to enter into this transaction and to carry on Grantor's
<br /> business or activity as it is now being conducted and, as applicable, is qualified to do so in each jurisdiction in
<br /> which Grantor operates.
<br /> B. Authority. The execution, delivery and performance of this Security Instrument and tkie obliga�ion - _
<br /> evidenced by this Security Instrument are within Grantor's powers, have been duly authorized, have received
<br /> all necessary governmental approval, will not violate any provision of law, or order of court or governmental
<br /> agency, and will not violate any agreement to which Grantor is a party or to which Grantor is or any of
<br /> Grantor's property is subject.
<br /> C. Name and Place of Business. Other than previously disclosed in writing to Lender, Grantor has not
<br /> changed Grantor's name or principal place of business within the last 10 years and has not used any other
<br /> trade or fictitious name. Without Lender's prior written consent, Grantor does not and will not use any other
<br /> name and will preserve Grantor's existing name, trade names and franchises.
<br /> 11. PROPERTY CONDITION, ALTERATtONS AND INSPECTION. Grantor will keep the Property in good condition
<br /> and make all repairs that are reasonably necessary. Grantor will not commit or allow any waste, impairment, or
<br /> deterioration of the Property. Grantor will keep the Property free of noxious weeds and grasses. Grantor agrees :
<br /> that the nature of the occupancy and use will not substantially change without Lender's prior written consent.
<br /> Grantor will not permit any change in any license, restrictive covenant or easement without Lender's prior
<br /> written consent. Grantor will notify Lender of all demands, proceedings, claims, and actions against Grantor,
<br /> and of any loss or damage to the Property.
<br /> No portion of the Property will be removed, demolished or materially altered without Lender's prior written
<br /> consent except that Grantor has the right to remove items of personal property comprising a part of the Property
<br /> that become wom or obsolete, provided that such personal property is replaced with other personal property at
<br /> least equal in value to the replaced personal property, free from any title retention device, security agreement or
<br /> other encumbrance. Such replacement of personal property will be deemed subject to the security interest
<br /> created by this Security Instrument. Grantor will not partition or subdivide the Property without Lender's prior :
<br /> written consent.
<br /> Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of
<br /> inspecting the Property. Lender will give Grantor notice at the time of or before an inspection specifying a :
<br /> reasonable purpose for the inspection. Any inspection of the Property will be entirely for Lender's benefit and
<br /> Grantor will in no way rely on Lender's inspection.
<br /> 12. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this
<br /> Security Instrument, Lender may, without notice, perform or cause them to be performed. Grantor appoints
<br /> Lender as attomey in fact to sign Grantor's name or pay any amount necessary for performance. Lender's right :
<br /> to perform for Grantor wi�f not create an obligation to perform, and Lender's failure to perform will not predude
<br /> Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any
<br /> construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps
<br /> necessary to protect Lender's security interest in the Property, including completion of the construction.
<br /> 13. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably grants, bargains and conveys to Trustee, in
<br /> trust for the benefit of the Lender, as additional security all the right, title and interest in and to any and aIL•
<br /> J AND D COMPANY LLC
<br /> Nebraska D��d Of Trust Initials �-�
<br /> NE/2nsonj05AA000000000000001 A0000001 Bn2 �1996 Bankers Syatems,Inc.,St.Cloud,MN Page 2 �
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