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_ 1�=28-1999 2 Q Q O O O 11� DEED OF TRUST Page 3
<br /> Loan No 1065770 (Continued)
<br /> company interests, as the case may be,of Trustor. However, this option shall not be exercised by Lender if such exercise is prohibited by federal
<br /> law or by Nebraska iaw.
<br /> TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are a part of this Deed of Trust.
<br /> , Payment. Trustor shall pay when due(and in sll events prior to delinquency)all taxes,special ta�ces,assessments,charges (indudiny water
<br /> and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for
<br /> services rendered or material furnished to the Property. Trustor shall maintain the Property free of ail Ifens having priority over or equal to the
<br /> interest of Lender under this Deed of Trust,except for the lien of taxes and assessments not due and except as otherwise provided in this Deed
<br /> of Trust.
<br /> Rlyht To Contest. Trustor may withhold payment of any tax,assessment,or claim in connection with a good faith dispute over the obligaUon
<br /> to pay,so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,Trustor shall within
<br /> flfteen(15)days after the lien arises or,if a lien is filed,within fifteen(15)days after Trustor has notice of the filing,secure the discharqe of the
<br /> lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satlsfactory to Lender in an
<br /> amount sufficient to discharge the lien plus any costs and attorneys'fees or other charges that could accrue as a result of a foreclosure or sale
<br /> under the lien. In any contest,Trustor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the
<br /> Property. Trustor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.
<br /> Evidence ot Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the texes or assessmenls and shall
<br /> authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
<br /> Property.
<br /> Notice of ConstruCtlon. Trustor shall notiy Lender at leest fifteen(15)days befwe any work is commenced,any services are furnlshed,or any
<br /> materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on axount of the work,
<br /> services,or meterials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Trustor can and wili
<br /> pay the cost of such improvements.
<br /> PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br /> MNnten�utce of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a
<br /> replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficfent to avoid application of any
<br /> coinsurance clause,and with a standard mortgagee clause in favor of Lender. Trustor shall also procure and maintaln comprehensive general
<br /> liability insurance in such coverage amounts as Lender may request with trustee and Lender being named as additional insureds in such liability
<br /> insurance policies. Additionally, Trustor shall maintain such other insurance, including but not limited to hazard, business interrupHon, and
<br /> boiler insurance,as Lender may reasonably require. Policies shall be written in form,amounts,coverages and basis reasonably acceptable to
<br /> Lender and issued by a company or companies reasonabty acceptable to Lender. Trustor, upon request of Lender,will deliver to Lender from
<br /> time to time the policies or certiflcates of insurance in form safisfactory to Lender,including stipulations that coverages wiA not be cancelled or
<br /> diminished without at least ten(10)days'prior written notice to Lender. Each insurance policy also shall include an endorsement providing that
<br /> coverage in favor of Lender will not be impaired in any way by any act, omission or default of Trustor or any other person. Should the Real
<br /> Property at any time become located in an area designated by the Director of the Federal Emergency Manag�ment Ag�ncy as a special flood
<br /> hazard area,Trustor agrees to obtain and maintain Federal Flood Insurance for the full unpaid principal balance ot the loan and any prior liens
<br /> on the propery securing the loan,up to the meximum policy limits set under the National Flood Insurance Program,or as otherwise required by
<br /> Lender,and to maintain such insurance for the term of the loan.
<br /> AppflCatlon of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss ff Trustor
<br /> fails to do so within flReen(15)days of the casualty. Whether or not Lender's security is impaired,Lender may,at its election,receive and retain
<br /> the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness,payment of any lien affecting the Property, or the
<br /> restoration and repair of the Prope�ty. If Lender elects to apply the proceeds to restoration and repair, Trustor shall repair or replace the
<br /> damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, pay or
<br /> retmburse Trustw Nom the proceeds for the reasonable cost of repair or restoration if Trustor is not in default under this Deed of Trust. Any
<br /> proceeds whlch have not been disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoratlon of
<br /> the Property shall be used first to pay any amount owing to Lender under this Deed of Trust,then to pay accrued interest,and the remainder,if
<br /> any,shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness,such
<br /> proceeds shall be paid to Trustor as Trustor's interests may appear.
<br /> Unexpired Insurance at Sale. Any unexpired insurance shall inure to the benefit of,and pass to,the purchaser of the Property covered by this
<br /> Deed of Trust at any trustee's sale or other sale held under the provislons of this Deed of Trust,or at any foreclosure sale of such Property.
<br /> Trustor's Repo�t on Insurance. Upon request of Lender,however not more than once a year,Trustor shall furnish to Lender a report on each
<br /> existing policy of insurance showing: (a)the name of the insurer; (b)the risks insured; (c)the amount of the policy; (d)the property insured,
<br /> the then current replacement value of such property, and the manner of determining that value; and (e) ths expiration date of the policy.
<br /> Trustor shall, upon request of Lender, have an independent appraiser saHsfactory to Lender determine the cash value replacement cost of the
<br /> Property.
<br /> DCPENDITURES BY LENDER. If Trustor fails to comply with any provision of this Desd of Trust, or if any acNon or proceeding is commenced that
<br /> would materially affect lender's interests in the Property, Lender on Trustor's behalf may, but shall not be required to,take any action that Lender
<br /> deems appropriate. Any amount that Lender expends in so doing will bear interest at the rate provided for in the Note from the date incurced or paid
<br /> by Lender to the date of repayment by Trustor. All such expenses,at Lenders option,will (a)be payable on demand, (b)be added to the balance
<br /> of the Note and be apportioned among and be payable with any installment payments to become due during either (i)the term of any applicable
<br /> insurance policy or (ii)the remaining term of the Note,or (c)be treated as a balloon payment which wlll be due and payable at the Note's meturity.
<br /> This Deed of Trust also will secure payment of these amounts. The rights provided for in this paragraph shall be in addihon to any other righls or any
<br /> remedies to which Lender may be entitled on account of the default. Any such acHon by Lender shall not be construed as curing the default so as to
<br /> bar Lender from any remedy that it otherwise would have had.
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust.
<br /> Title. Trustor warrants that: (a)Trustor holds good and marketable title of record to the Property in fee simple,f�ee and clear of all liens and
<br /> encumbrances other than those set forth in the Real Property description or in any title insurance policy,title report,or final title opinion issued in
<br /> favor of,and acxepted by,Lender in connection with this Deed of Trust,and (b)Trustor has the full right,power,and authority to execute and
<br /> deliver this Deed of Trust to Lender.
<br /> Defense of Title. Subject to the exception in the paragraph above,Trustor warrants and will forever defend the tltle to the Property ageinst the
<br /> lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the interest of Trustee or
<br /> Lender under this Deed of Trust,Trustor shall defend the action at Trustor's expense. Trustor may be the nominal party in such proceedin�,but
<br /> Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own chdce,and
<br /> Trustor will deliver,or cause to be delivered,to L�nder such instruments as Lender may request from time to time to permit such pariicipatlon.
<br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all e�tisting applicable laws,
<br /> ordinances,and regulations of governmental authorities. _
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust.
<br /> Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain procesdings or by any proceeding or
<br /> purchase in lieu of condemnation,Lender may at its election require that all or any portion of the net proceeds of the award be applied to the
<br /> Indebtedness or the repair or restoration of the Property. The net procseds of the award shall mean the award after payment of ali reasonable
<br /> cosis,e�enses,and attorneys'fees incurred by Trustee or Lender in connection with the condemnation.
<br /> ProCEedinys. If any proceeding in condemnation is filed,Trustor shall promptly notiy Lender in writing,and Trustor shall promptly take such
<br /> steps as may be necessary to defend the acfion and obtain the award. Trustor may be the nominal party in such proceeding,but Lender shaA
<br /> be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice,and Trustor will deliver or
<br /> cause to be delivered to Lender such instruments as may be requested by it from time to time to permit such participation.
<br /> IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relatinq to qovernmental tixos,
<br /> fees and charges are a part of this Deed of Trust:
<br /> Current Taxes,Fees and Charges. Upon request by Lender,Trustor shall execute such documents in addition to thfs Deed of Trust and take
<br /> whatever other aotion is requested by Le�tq perfect and continue Lenders lien on the Real Property. Trustor shaA reimburse Lender for all
<br />� taxes, as described below, together with all expenses incurred in recording, perfecting w continuinq this Deed of Trust, including without
<br /> limitation all te�ces,fees,documentary stamps,and other charges for recwding or registering this Deed o}Trust.
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