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' 20000;Q,769
<br /> DEED OF TRUST . ,; Page 3 :
<br /> (Continued) • , :
<br /> whether fee title to the leasehold premises,the leasehold estate,or any subleasehold estate,will merge without Lenders express written co�ent;rather
<br /> these est8tes will remain separate and distinct, even if there is a union of these estates in the landlord, Grantor, or a third party who purchases or
<br /> otherwise BCquires the estates. GrBntor further agrees that if Grantor acquires all or a portion of the fee simple Ntle, or any other leasehold or
<br /> subleasehdd title to the Property, that fitle will, at Lender's option, immediately become subject to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver and record ell documenis necessary or appropnate to assure that such title is secured by this Deed of Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Grantor shall fulfill all of Grantor's obligations under any home rehabilit8tion,improvement,repair,or other
<br /> loan ayreement which Grantor may enter iMo with Lender. Lender,at Lender's option, may require Grantor to execute and deliver to Lender,in a fwm
<br /> acCeptabte to Lender,an assignment of any rights,claims or defenses which Grantor may have against parties who supply labor,materials or services :
<br /> in connection with improvemenls made to the Property. :
<br /> 7. DUE ON SALE-CONSENT BY LENDER. Lende�may,at its option, have the nght to accelerate,that is, declare immediately due and payable all
<br /> sums secured by this Deed of Trust upon the sale or transfer,without the Lender's prior written consent,of all or any part of the Real Property,or any :
<br /> interest in the Real Property. If Grantor sells or transfers the Real Property without the wntten consent of Lender,then,pria to acoeleratlon Lender shaU :
<br /> give notiCe to Grantor. The notice shall provide a period of not less than ten (10)days from the date of the notice within which Grantor may pay the
<br /> sums deClared due. If Grantor fails to pay those sums prior to the expiration of such period,Lender may,without further notice or demend on Grantor,
<br /> invoke any remedies permitted in this Deed of Trust. A"sale or transfe�' means the conveyance of Real Property or any right,title or interest therein;
<br /> whether legal or equitable;whether voluntary or involuntary;whether by oufight sale,deed,instellment sale contract,land contract,contract for deed,
<br /> leasehdd interest with a term greater than three(3)years,lease-option contract,or by sale,assignment,or transfer of any beneficial interest in or to any
<br /> land trust hdding title to the Real Property,or by any other method of conveyance of Real PropeRy interest. However,this option shall not be exercised :
<br /> by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br /> 8. TRANSFER OF PROPERTY. The following provisions relating to the transfer of the Real Property are a part of this Deed of Trust:
<br /> Notice of Transfer. Grantor shall give notice to Lender,as provided in this Deed of Trust,pnor to any sale or transfer of all or part of the Property :
<br /> or any rights in the Real Property. Any person to whom all or part of the Real Property is sold or transferred also shall be obligated to give notice
<br /> to Lender,as provided in this Deed of Trust,promptly after such transfer.
<br /> Advences After Tronsfer. All amounts advanced under the �OANLINERO Home Equity Plan Credit Agreement, up to the Gedit Limit, are
<br /> Secured by this Deed of Trust, whether advanced before or after sale or transfer of the Real Property, except any amounts which may be :
<br /> advanced by Lender more than five(5) days after notice to Lender, as provided in this Deed of Trust, that such transfer or sale has occurred.
<br /> Even if Grantor transfers the Real Property,Grantor will continue to be obligated under the Credit Agreement and this Deed of Trust unless Lender :
<br /> releases Grantor in writing. As a condition to Lender's consent to any proposed transfer or as a condition to the release of Grantor,Lender may :
<br /> require that the person to whom the Reel Property is transferred sign an assumption agreement satisfactory to Lender and Lender may impose an
<br /> assumption fee. The assumption agreement will not entitle the person signing it to receive advances under the Credit Agreement.
<br /> 9. 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. Grantor shall pay when due(and in all events prior to delinquency)all taxes,special taxes,assessments,charges(including water and
<br /> 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 services
<br /> rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having pnority over or equal to the interest of
<br /> Lender under this Deed of Trust,except for the lien of taxes and assessments not due,except for the existing indebtedness referred to below,and
<br /> exCept as otherwise provided in this Deed of Trust.
<br /> Rlyht To Contest. Granior mey withhold payment of any ta�c,assessment,or claim in connection with a good faith dispute over the obligation to
<br /> pay,so long as Lende�'s interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,Grantor shall within fifteen
<br /> (15)d8ys after the lien arises or,if a lien is filed,within filteen(15)days after Grantor has notice of the filing,secure the discharge of the lien,or if
<br /> requested by Lender,deposit with Lender cash or a sufficient corporate surety bond or other secunty satisfactory to Lender in an amount sutficient
<br /> to discharge the lien plus any costs and attomeys'fees or other charges that could accrue as a result of a foreclosure or sale under the lien. In
<br /> any contest,Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall
<br /> name Lender as 8n additional obligee under any surery bond furnished in the contest proceedings.
<br /> EvldenCe of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
<br /> 8uthorize the appropriete govemmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
<br /> Property.
<br /> Notice of Constructlon. Grantor shall notify Lender at least flfteen (15)days before any work is commenced,any servic�s are furnished,or any
<br /> materials are supplied to the Property,if any mechanic's lien, materialmen's lien,or other lien could be asserted on account of the woric,services,
<br /> or materials and the cost exceeds 310,000.00. Grantor will upon request of Lender fumish to Lender advance assurances satisfactory to Lender :
<br /> that Grantor can and will pay the cost of such improvements. s
<br /> 10. PROPERTY INSURANCE The following provisions relating to insunng the Property are a part of this Deed of Trust.
<br /> Malntenance of Insurance. Grantor 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 sufficient to avad application of any
<br /> coinsurance clause,and with a standard mortgagse clause in favor of Lender, together with such other hazard and liability insuranCe as Lender
<br /> may reasonably require. If the Real Property is located in an area designated by the Director of the Federal Emergency Management Agency as a
<br /> special flood hazard area, Grantor agrees to obtain Federal Flood Insurance to the extent such insurance is required and is avaitable. Polic�es
<br /> shall be written in fwm, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably
<br /> eCceptable to Lender. Carantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance in form
<br /> satisfactory to Lender,induding stipulations that coverages will not be cancelled or diminished without at least ten(10)days'prior written notice to
<br /> Lender.
<br /> AppliCatlon of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property if the estimated cost of repair or
<br /> replacement exceeds 310,000.00. Lender may make proof of loss if Grantor fails to do so within fifteen (15)days of the casualty. If,in Lender's
<br /> judgment, the restoration or repair is economically feasible and Lender's security is not lessened, insurance proceeds shalt be applied to
<br /> restoration or repair of the damaged Property. If the restoration or repair is not economically feasible or Lenders security would be 1e55ened,the
<br /> insurance proceeds shall be applied to the sums secured by this Deed of Trust whether o� not then due, with any excess paid to Grantor. If
<br /> Grantor abandons the Property,or does not answer within thirty(30) days a notice from �ender that the insurance cartier has ofFergd to setde a
<br /> daim,then Lender mey collect the insurance proceeds. Lender may use the proceeds to repairor restore the Property or to pay sums secured by
<br /> this Deed of Trust,whether or not then due. If Lender holds any proceeds affer payment in full of the Indebtedness,such proceeds shall be paid
<br /> b Grantor as Grantors interests may appear. :
<br /> Unexplred Insurance et 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 prov�sions of th�s Deed of Trust. or at any foreclosure saie of such Property.
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