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200000194 . � P
<br /> 5. WARRANTY OF TITLE. Grantor wa�rants 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 sell 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, security agreement or other
<br /> lien document that created a prior security interest or encumbrance on the Property, Grantor agrees:
<br /> A. To make all payments when due and to perform or comply with all covenants.
<br /> B. To promptly deliver to Lender any notices that Grantor receives from the holder. �
<br /> C. Not to allow any modification or extension of, nar to request any future advances under any note or
<br /> agreement secured by the lien document without Lender's prior written co�se�t. ' (1 ', .
<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 title 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, declare the entire balance of the Secured Debts to be immediatefy
<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. WARRANTIES AND REPRESENTATIONS. Grantor has the right and authority to enter into this Security
<br /> Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing
<br /> Grantor or to which Grantor is a party.
<br /> 10. PROPERTY CONDITION, ALTERATIONS 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 worn 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 /> 11. 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 attorney in fact to sign Grantor's name or pay any amount necessary for performance. Lender's right
<br /> to perform for Grantor will not create an obligation to perform, and Lender's failure to perform will not preclude
<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 /> 12. 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 all:
<br /> A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br /> the use and occupancy of any portion of the Property, including any extensions, renewals, modifications or
<br /> substitutions of such agreements (all referred to as Leases►.
<br /> B. Rents, issues and profits (all referred to as Rentsl, including but not limited to security deposits, minimum
<br /> rent, percentage rent, additional rent, common area maintenance charges, parking charges, real estate taxes,
<br /> other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation
<br /> premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts,
<br /> contract rights, general intangibles, and all rights and claims which Grantor may have that in any way pertain
<br /> to or are on account of the use or occupancy of the whole or any part of the Property.
<br /> In the event any item listed as Leases or Rents is determined to be personal property, this Security Instrument
<br /> will also be regarded as a security agreement :
<br /> Grantor will promptly provide Lender with true and correct copies of all existing and future Leases. Grantor may
<br /> collect, receive, enjoy and use the Rents so long as Grantor is not in default. Except for one lease period's rent,
<br /> Grantor will not collect in advance any future Rents without Lender's prior written consent.
<br /> Upon default, Grantor will receive Rents in trust for Lender and Grantor will not commingle the Rents with any
<br /> other funds. Amounts collected will be applied at Lender's discretion to payments on the Secured Debts as
<br /> therein provided, to costs of managing, protecting and preserving the Property and to any other necessary
<br /> related expenses including Lender's attorneys' fees and court costs.
<br /> Grantor agrees that this assignment is immediately etfective between the parties to this Security Instrument and
<br /> effective as to third parties on the recording of this Security Instrument. This assignment will remain effective
<br /> until the Secured Debts are satisfied. Grantor agrees that Lender is entitled to notify Grantor or Grantor's
<br /> tenants to make payments of Rents due or to become due directly to Lender after such recording, however,
<br /> Lender agrees not to notify Grantor's tenants until Grantor defaults and Lender notifies Grantor of the default
<br /> JOHN F BELL
<br /> Nebreska Deed Of Trust Initials
<br /> NE/2xxxxx0583000000000000003500000036n8 `�1996 Bankers Systems,fnc.,St.Cloud,MN Page 2
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