|
20�OQ055 �
<br /> 2. Taxas. Trustor shall pay each installment of all taxes and special assessments of every kind, now or herea(t
<br /> levied apainst the T�ust Estate or any part thereof, before delinquency, without notice or demand.
<br /> 3. /nsuranca and Repalis. Trustor shall maintain fire and extended coverage insurance insuring the Improvemern
<br /> constitutinp part of the Trust Estate tor such amounts and on such terms reasonably satisfactory to 8eneficiary. So long as th
<br /> ProPe:rty is secured by a tirst deed of trust or martpage, compliance with the insu�ance requirements of the first deed of trust c
<br /> mortpage shall be sufficlent to satisfy the requirements o( this paragraph 3 relating to insurance.
<br /> Trustor shall promptly repair and replace the Trust Estate or any part thereof so that, except for ordinary wear and tea�
<br /> tfie Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Tn�st Estate, or commit, suffer o
<br /> permit any act to be done in or upon the T�ust Estate in violation o(any law, ordinance or regulation. Trustor shall pay and p�omptl�
<br /> discharee at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Trust Estati
<br /> or any part thereot.
<br /> 4. Act/ons Afleciing Tiust Estate. Trustor shall appear in and contest any action or proceedinfl purporting to atiect
<br /> the security hereo( or the ri9hts or pawers ot Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence
<br /> of title and attorneys' fees, in any such action or proceeding in which Beneficiary or Trustee may appear. If Trustor fails to make
<br /> any payment or to do any act as and in the manner p�ovided in any of the Loan Instruments, Beneficiary and/or Trustee, each in
<br /> ttieir own discretion, witliout obliflation so to do and without notice to or demand upon Trustor and without releasinp Trustor from
<br /> any obli�ation, may make or do the same in such manner and to such extent as either may deem necessary to protect the security
<br /> hereof. Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in
<br /> connection with the exercise by Beneficiary of the foregoing rights, i�cluding without limitation costs of evidence of title, court
<br /> costs, appraisals, surveys and attorneys' fees.
<br /> 5. Eminent Domain. If the Trust Estate, or any part thereof or interest therein, be taken or damaged by reason of
<br /> any public irnprovement or condemnation proceeding, or in any other manner including deed in lieu thereof ('Condemnation"), or
<br /> if 7rustor receives any notice or other infnrmation regarding such proceeding, Trustor shall give prompt written notice thereof to
<br /> Bene(iciary. Trustor shall be entitled to all compensation, awards and other payments or relief thereof and shall be entitled at its
<br /> option to commence, appear in and prosecute in its own name any action or proceedings. Trustor shall also be entitled to make
<br /> any compromise or settlement in connection with such taking or damage.
<br /> 6. Appointinent o!Successor Trustee. Beneficiary may, from time to time, by a w�itten instrument executed and
<br /> acknowledged by Beneficiary, mailed to Trustor and recorded in the County in which the Trust Estate is located and by otherwise
<br /> complying with the provisions of the applicable law of the State of Neb�aska substitute a successor or successors to the Trustee
<br /> named herein or actin4 hereunder.
<br /> 7. Successo�s andAssigns. This Second Deed of Trust applies to,inures to the benefit of and binds all parties hereto,
<br /> their heirs, legatees, devisees, personal representatives, successors and assigns. The term "Beneficiary' shall mean the owner and
<br /> holder of any promissory note given to beneficiary, (whether or not named as Beneficiary herein).
<br /> 8. Marger, Conso/Fdatlon, Sa/es or Leases. Trustor covenants that Trustor will not sell, lease or otherwise dispose
<br /> ot any of ttie Trust Estate. In tfie event tiiat Trustor sells, leases or otherwise disposes of any part of the Trust Estate, Beneficiary
<br /> may at its option declare the Indebtedness secured hereby immediately due and payable, whether or not any default exists.
<br /> Beneficiary shall consent to a transfer of the Trust Estate to a third party to the extent such third party meets the requirements
<br /> contained in, and assumes the obliflations set forth in the First Deed of Trust. The covenants contained herein shall run with the
<br /> Property and shall �emain in full•force and effeci until the Indebtedness is paid in full.
<br /> 9. Events of Defau/t. Any of the following events shall be deemed an eveni of default hereunder:
<br /> (a) default shall be made in the payment of the Indebtedness or any other sum secured hereby when due;
<br /> or
<br /> (b) Trustor shall perform any act in ba�kruptcy; or
<br /> (c) a court of competent jurisdiction shall enter an order,judgment or decree approvinp a petition filed aflainst
<br /> Trustor seekinp any reorpanization, dissolution or similar relie( under any present or (uture federal, state or other statute,
<br /> law or regulation relating to bankruptcy, insolvency or other relief for debtors, and such order, judflment or decree shall �
<br /> remain unvacated and unstayed for an aggregate of sixty(60�days (whether or not consecutive) (rom the tirst date of entry
<br /> thereof; or any trustee, receiver or liquidator or Trustor o� of all or any part of the Trust Estate, or of any or all of the
<br /> royalties, revenues, rents, issues or profits thereoi, shall be appointed without the consent or acquiescence of Trustor and
<br /> sucl� appointment shall remai�unvacated and unstayed for an aggrepate o(sixty (60) days (whether or not consecutive);
<br /> or
<br /> ,J/�'JT � �
<br />
|