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<br /> • �2-3"1999 2 0 0 0 0 0171 DEED OF TRUST Page 3
<br /> Loan No 456119 (Cor�tinued)
<br /> law or by Nebraska law.
<br /> TAXES AND LIENS. The following provisions relating to the texes and aens on the Property are a part of this Deed of Trust.
<br /> Payment. Trustor shall pay when due(and in all events prior to delinquency)all taxes, special taxes,assessments,charges (including water
<br /> and sewer), flnes and impositlons levied against or on acxount of the Properiy, 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 atl liens having prioriy over or equal to the
<br /> interest of Lender under this Deed of Trust,e�ccept for the Oen of taxes and assessments not due and except as othervvise provided in this Deed
<br /> of Trust.
<br /> PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br /> Maintenance of Insurance. Trustor shall procure and maintain pdicies of fire insurance with standard extended coverage endorsements on a
<br /> replacement basis for the full insurable value covering all Improwments on the Real Property in an amount sutiticcient to avoid appllcation of any
<br /> coinsurance clause,and with a standard mortgagee dause in favor of Lender,together with such other hazard and Iiability insurance as Lender
<br /> may reasonably require. Policies shall be written in form, amounls, coverages and basis reasonably acxeptable to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Trustor,upon request of Lender,wiii deliver to Lender from time to time the policias
<br /> or certificates of insurance in form sadsfactory to Lender, including sUpulaUons that coverages will not be cancelled or diminished without at
<br /> least ten (10)days'prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of
<br /> Lender will not be impaired in any way by any act, omission or defautt of Trustor or any other person. The Real Property is located in an area
<br /> designated by the Director of the Federal Emergency Management Agency as a special flood hazard area. Trustor agrees to obtain and
<br /> maintain Federal Flood Insurance for the full unpaid principai balance of the loan and any prior liens on the properly securing the loan,up to the
<br /> maximum policy limits set under the NaHonal Flood Insurance Program,or as otherwise required by Lender,and to maintain such insurance for
<br /> the term of the loan.
<br /> DCPENDITURES BY LENDER. If Trustor fails to comply with any provlslon of this Dsed of Trust, or if any actlon or proceeding is commenced that
<br /> would materially affect Lender's interesis 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 e�ends in so doing wiU bear interest at the rate provided for in the Credit Agreement from the date
<br /> incurred or paid by Lender to the date of repayment by Trustor. AII st�ch e�enses, at Lender's opHon,will (a) be payable on demand, (b)be
<br /> added to the balance of the credit line and be apportioned among'and'be payable with any installment payments to become due during either (i)
<br /> the term of any applicable insurance policy or (ii)the remaining term�ofthe Credit Agreement,or (c)be treated as a balloon payment which will be
<br /> due and payable at the Credit AgreemenYs maturity. This Deed of Tn�st also will secure payment of these amounts. The rlghts provided for in this
<br /> paragraph shali be in addition to any other righis or any remedies to which Lender may be entltled on account of the default. Any such action by
<br /> Lender shall not be construed as curing the default so as to bar Lender hom 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�ood and marketeb�e Ufle of record to the Properiy in fee simple,iree and clear of all liens and
<br /> encumbrances other than those set forth M the fieal Property desCaiptlo�or in any tlUe It�syrance policy,tlUe report,or flnal dde opinion issued in
<br /> favor of,and accepted by,Lender in connectlon with this Deed.of�rust,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 t�e paragraph abeve;Trustor warraNs and will forever defend the Utle to the Property against the
<br /> lawful claims of all persons. •
<br /> DEFAULT. Each of the following, at the opdon of,Lender, shall cons,Utute an event of default ("Event of Default'� under this Deed of Trust: (a)
<br /> Trustor commits fraud or makes a material misrepresentatlon at any Ume in connection with the Credit Agreament. This can include,for example,a
<br /> false statement about Trusto�'s income, assets, Ilabilities, or any other aspects of Trustors financial condition. (b) Trustor does not meet the
<br /> repayment terms of the Credit Agreement. (c)Trustor's actlon or ineciion adversely aifQcts the collateral for the Credlt Agreement or Lender's rights
<br /> in the collateral. This can include,for example,faAure to maintain required insurance,waste or destructive use of the dwelling,failure to pay taxes,
<br /> death of all persons liable on the account,transfer o(title or sale ot#�p dyveWng,creatlon of a lien on the dweUing without our permission,foreclosure
<br /> by the holder of another lien,or the use of fuads or tbe dweUing tor pr,qb�ltad purposes. .
<br /> RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of$ny�vent of Defaulf and at any time therea(ter,Trustee or Lender,at its option,
<br /> may exercise any one or more of the followirig rights�and remedies;h►faddidon to arry other righis or remedies pro�ided by law:
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<br /> Acceleration upon Default; Addittond Remedles. If any event of default occurs as per the terms of the Credit Agresment secured hereby,
<br /> Lender may declare all Indebtedness secured by this Deed of Tnffit to be due and payable and the same shall thereupon become due and
<br /> payable without any presentment,demand,protest or noHce of any�Cind. Thereaffer,Lender may: '
<br /> (a) Either in person or by agent,with or without bringing eny acUon or proceeding, or by a receiver appointed by a court and without
<br /> regard to the adequacy of its security,enter upon and take:possesslon of the Property,or any part thereof,in its own name or in the name
<br /> of Trustee,and do any acts which it deems necessary or desirable to preserve the value,marketabAity or rentability of the Property,or part
<br /> of the Property or interest in the Property;increase the incorriq from the PropeRty or protect the security of the Property;and,with or without
<br /> taking possession of the Properly.sue for or otherwise cqllec�ttw renls,issuas end proflts of the Properiy, including those past due and
<br /> unpaid,and apply the same,less costs aad e�cpens�of operation and collection,including attorneys'fees,to any indebtedness secured
<br /> by this Deed of Trust,all in such wder as Lender may de�mine. The enteri�g upon and taking possession of the Property,the collection
<br /> of such rents,issues and proflts,and the$ppllcation thereo#.sfiall not cure or waive any default or noUce of default under this Deed of Trust
<br /> or invalidate any act done in response to such defautt er'pnrsuant to sucfr nolica of default; and, notwithstanding the continuance in
<br /> possession of the Property or the coUecbon, rec�ipt and�epplication of renis, issues or proflts, Trustee or.Lender shall be enritled to
<br /> exercise every right provided for in the Credit Agreement or.the Related Documents or by law upon the occurrenoe of any event of default,
<br /> including the right to exercise the power of sale; . % ;
<br /> (b) Commence an action to fweclose this Deed of Trust as a mortgage,appoint a receiver or speciftcally enforce any of the covenants
<br /> hereof;and , , �,,,.' ;
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<br /> (c) Deliver to Trustee a w�itten declaration of default and demand for sele and a wdtten notice of default and electlon to cause Trustors
<br /> interest in the Properiy to be sold,whlch notice Trustee ShaII pause,to.be dWy flled for record in the appropriate off(ces of the County in
<br /> which the Property is located;and . : �,,: ; .
<br /> (d) With respect to all or any part of the�Personal Properly;�Lender shall have all the rights and remedies of a secured party under the
<br /> Nebraska Uniform Commercial Code. � �
<br /> Foreclosure by Power of Sale. If Lender elecls to forecbse by,exercise of the Power of Sale herein contained,Lender shall notify Trustee and
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