|
01-13-2000 DEED OF TRUST � � � � � � CJ O O Page 2
<br /> Loan No 1074897 (Continued)
<br /> Lender. The word"Lender"means UNITED NEBRASKA BANK,its successors and assigns.
<br /> Note. The word "Note" means the Note dMed Januauy 13,2000, in the principal amount of $92,000.00 from Trustor to Lender,
<br /> together with all renewals,extensions,modifications,refinancings,and substitutions for the Note.
<br /> Personal Property. The words "Personal Property' mean all equipment, flxtures, and other a�ticles of personal property now or hereafter
<br /> owned by Trustor, and now or hereafter attached or affoced to the Real Property; together with all accessions, parts, and additions to, all
<br /> replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
<br /> proceeds and refunds of premiums)from any sale or other disposition of the Property.
<br /> Property. The word"Property"means collectively the Real Property and the Personal Property.
<br /> Red Property. The words"Real Property"mea�the property,interests and rights described above in the"Conveyance and Grant"section.
<br /> RelatM Documents. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan
<br /> agreements,environmental agreements,guaranties,security agreements,mortgages,deads of trust,and all other instruments,agreements and
<br /> documents,whether now or hereafter existing,executed in connection with the Indebtedness.
<br /> Rents. The word "Rents"means all present and future rents,revenues, income, issues,royalties, profits, and other benefits derived from the
<br /> Property.
<br /> Trustee. The word'Trustee"means UNITED NEBRASKA BANK and any substitute or successor trustees.
<br /> Trustor. The wwd"Trusto�'means any and all persons and entities executing this Deed of Trust,including without limitation all Trustors named
<br /> above.
<br /> THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br /> PROPERTY, IS GIVEN TO SECURE (1) PAYMENT OF THE iNDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF
<br /> TRUSTOR UNDER THE NOTE,THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED
<br /> ON THE FOLLOWING TERMS:
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust,Trustor shall pay to Lender all amounts secured by this Deed
<br /> of Trust as they become due,and shall strictly and in a timely manner perform all of Trustor's obligations under the Note,this Deed of Trust,and the
<br /> Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be governed by
<br /> the following provisions:
<br /> Possession and Use. Until the occurrence of an Event of Default,Trustor may (a)remain in possession and control of the Property, (b) use,
<br /> operate or manage the Property,and (c)collect any Rents from the Property.
<br /> Duty to Malntaln. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs,replacements,and maintenance
<br /> necessary to preserve its value.
<br /> Hazardous Substances. The terms"hazardous waste,""hazardous substance,""disposal,""release,"and"threatened release;as used in this
<br /> Deed of Trust, shall have the same meanings as set fo�th in the Comprehensive Environmental Response, CompenSaHon, and Liability Act o(
<br /> 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No.
<br /> 99-499("SARA"), the Hazardous Materials Transportation Act,49 U.S.C. Section 1801,et seq.,the Resource Conservation and Recovery Act,
<br /> 42 U.S.C. Section 6901,et seq., or other applicable state or Federal laws,rules, or regulations adopted pursuant to any of the foregoing. The
<br /> terms"hazardous waste"and"hazardous substance"shall also include,without limitation,petroleum and petroleum by-products or any fraction
<br /> thereof and asbestos. Trustor represents and warrants to Lender that: (a)During the period of Trustor's ownership of the Property,there has
<br /> been no use,generation, manufacture,storage,treatment,disposal,release or threatened release of any hazardous waste or substance by any
<br /> person on, under,about or from the Property; (b)Trustor has no knowledge of,or reason to believe that there has been,except as previously
<br /> disclosed to and acknowledged by Lender in writing, (i)any use,genera6on, manufacture,storage,treatment,disposal,release, or threatened
<br /> release of any hazardous waste or substance on,under,about or from the Property by any prior owners or occupants of the Property or (ii)any
<br /> actual or threatened litigation or claims of any kind by any person relating to such matters; and (c) Except as previously disclosed to and
<br /> acknowledged by Lender in writing, (i) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property shall use,
<br /> generate,manufacture,store,treat,dispose of,or release any hazardous waste or substance on, under,about or from the Property and (ii)any
<br /> such activity shall be conducted in compliance with all applicable federal,state, and local laws, regulations and ordinances, including without
<br /> limitation those laws, regulations, and ordinances described above. Trustor authorizes Lender and its agents to enter upon the Properiy to
<br /> make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property with this
<br /> section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create
<br /> any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and warcanties contained herein are
<br /> based on Trustor's due diligence in investigating the Property for hazardous waste and hazardous substances. Trustor hereby (a)releases and
<br /> waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under any
<br /> such laws, and (b) agrees to indemnify and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and
<br /> expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a
<br /> consequence of any use,generation, manufacture,storage, disposal,release or threatened release of a hazardous waste or substance on the
<br /> properties. The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the
<br /> Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any
<br /> interest in the Property,whether by foreclosure or otherwise.
<br /> Nuisance,Waste. Trustor shall not cause,conduct or permit any nuisance nor commit, permit,or suffer any stripping of or waste on or to the
<br /> Property or any portion of the Property. Without limiting the generality of the foregoing,Trustor witl not remove,or grant to any other party the
<br /> right to remove,any timber,minerals(including oil and gas),soil,gravel or rock products without the prior written consent of Lender.
<br /> Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without the prior written consent
<br /> of Lender. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory to Lender to
<br /> replace such Improvements with Improvements of at least equal value. ,.
<br /> Lender's Rlyht to Enter. Lender and its agents and representatives may enter upon the Real Property at all reasonable times to attend to
<br /> Lender's interests and to inspect the Property for purposes of Trustor's compliance with the terms and conditions of this Deed of Trust.
<br /> Compliance with Govemmental Requirements. Trustor shall promptiy comply with all laws,ordinances,and ragulations, now or hereafter in
<br /> effect, of all governmental suthorities applicable to the use or occupancy of the Property. Trustor may contest in good faith any such law,
<br /> ordinance,or regulation and withhold compliance during any proceeding,including appropriate appeals,so long as Trustor has notified Lender
<br /> in writing prior to doing so and so long as,in Lender's sole opinion,Lender's interests in the Property are not jeopardized. Lender may require
<br /> Trustor to post adequate security or a surety bond,reasonably satisfactory to Lender,to protect Lender's interest.
<br /> Duty to Protect. Trustor agrees neither to abandon nor leave unattended the Property. Trustor shall do all other acts,in addition to those acts
<br /> set forth above in this section,which from the character and use of the Property are reasonably necessary to protect and preserve the Property.
<br /> CONSTRUCTION LOAN. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct or complete construction
<br /> of any Improvements on the Property, the Improvements shall be completed no later than the maturity date of the Note (or such earlier date as
<br /> Lender may reasonably establish) and Trustor shall pay in full all costs and expenses in connection with the work. Lender, at its option, may
<br /> disburse loan proceeds under such terms and conditions as Lender may deem necessary to insure that the interest created by this Deed of Trust
<br /> shall have priority over all possibie liens, including those of material suppliers and workmen. Lender may require, among other things, that
<br /> disbursement requests be supported by receipted bills, expense affidavits, waivers of liens, construction progress reports, and such othe�
<br /> documentation as Lender may reasonably request.
<br /> DUE ON SALE-CONSENT BY LENDER. Lender may,at its option,declare immediately due and payable all sums secured by this Deed of Trust
<br /> upon the sale or transfer, without the Lender's prior written consent, of all or any pa�t of the Real Property, or any interest in the Real Property. A
<br /> "sale or transfer"means the conveyance of Real Property or any right,title or interest therein;whether legal,beneftcial or equitable;whethsr voluntary
<br /> or involuntary; whether by outright sale, deed, instailment sale contract,land contract,contract for deed, leasehold interest with a term greater than
<br /> three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficiel interest in or to any land trust holding title to the Real
<br /> Property, or by any other method of conveyance of Fieal Property interest. If any Trustor is a corporation, partnership or limited liability compeny,
<br /> transfer also includes any change in ownership of more than twenty-five percent (2596)of the voting stock, partnership interests or limited liability
<br /> company interests,as the case may be, of Trustor. However, this option shall not be exercised by Lender if such euercise is prohibited by federal
<br /> law or by Nebraska Iaw.
<br /> TAX�S AND LIENS. The following provisions relating to the taxes and liens on the Properiy are a part of this Deed of Trust.
<br />
|