201501412 - Laserfiche WebLink

Browse

whichever is greater. 201501412 5. Taxes and Insurance. Borrower will pay, before delinquency, all taxes and assessments that may become liens against the real property. Borrower further agrees to keep the property insured against loss, damage or fire with extended coverage to the amount of the full insurable value on a replacement cost basis (or less in the discretion of the Lender) with a Nebraska licensed insurance company. The policy shall have such endorsements to provide that loss of such insurance shall be payable to Lender. The Lender may require a policy evidencing this insurance and receipt for the payments of the premiums. The policy shall contain a provision requiring 30 days or more notice to Lender prior to cancellation or modification. Borrower shall give Lender evidence of renewal of the policy with premiums paid, 30 days or more before expiration. Borrower will not permit any condition to exist on the real property which would invalidate any insurance thereon. Lender shall not by the fact of approving, disapproving, accepting, preventing, obtaining or failing to obtain any such insurance, incur any liability for the form or legal sufficiency of insurance contracts, solvency of insurers, or payment of losses and Borrower hereby expressly assumes full responsibility therefore and any liability, if any, hereunder. 6. Maintenance of Property. Borrower shall keep the property in good repair and shall not commit waste or deterioration. No improvements shall be removed or structurally altered and no fixture which shall constitute an accessory to the property shall be removed without Trustee's approval. Borrower shall not permit any lien of any mechanic, materialman or any other statutory lien to attach to the property and shall comply with all laws affecting the property. 7. Hazardous Substances. The terms "hazardous waste ", "hazardous substance ", "disposal ", "release ", and "threatened release ", as used in this Deed of Trust, shall have the same meanings as set forth in the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ( "CERCLA "), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ( "SARA "), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 49 U.S.C. Section 6901, et seq., or other applicable state or Federal laws, rules, or regulations adopted pursuant to any of the foregoing. Borrower represents and warrants to the Lender that: (a) During the period of Borrower's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any hazardous waste or substance by any person on, under, or about the Property. (b) Borrower has no knowledge of, or reason to believe that there has been, except as previously disposed to and acknowledged by Lender in writing (i) any use, generation, manufacture, storage, treatment, disposal, release, or threatened release of any hazardous waste or substance by any prior owners or occupants of the Property or (ii) any actual or threatened litigation or claims of any kind by any person relating to such matters. (c) Except as previously disclosed to and acknowledged by Lender in writing, (i) neither Borrower nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of, or release any hazardous waste or substance on, under or about the property and (ii) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances, including without limitation those laws, regulations, and ordinances described above. Borrower authorizes Lender and its agents to enter upon the Property to make such inspections and tests as Lender may deem appropriate to determine compliance of the Property with this 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 any responsibility or liability on the part of the Lender to Borrower or to any other person. The representations and warranties contained herein are based on Borrower's due diligence in investigating the Property for hazardous waste. Borrower hereby (a) releases and waives any future claims against Lender for indemnity or contribution in the event Borrower becomes liable for cleanup or other costs under any such laws, (b) agrees to indemnify and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and 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 consequence of any use, generation, manufacture, storage, disposal, release or threatened release occurring prior to Borrower's ownership or interest in the Property, whether or not the same was or should have been known to Borrower. The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the 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 interest in the Property, whether by foreclosure or otherwise. 8. Right of Entry. Lender, may at any time without notice to Borrower, enter and inspect or protect the property in person or by its agent, in any manner as may be deemed reasonable and necessary to protect the value of the property. Lender may undertake such repairs or maintenance as it deems necessary and the cost shall immediately become due and payable to Lender and said amount shall be reimbursed in the same manner as provided for insurance and taxes. Lender shall not be deemed to have waived its rights to declare default under this Trust Deed for failure to maintain the property correctly even though the Lender undertakes to perform such repairs and maintenance. 9. Protection of Lender's Security. If Borrower fails to perform the agreements contained in this Trust Deed or if any proceedings are commenced which materially affect Lender's interest in the real property including but not limited to eminent domain, bankruptcy, enforcement of statutory provisions or foreclosure of a prior mortgage or Trust Deed, then the Lender, at it's option, upon such notice to Borrower as may be required by law, may make such appearance, dispose of such sums and take any action necessary to protect Lender's interest, including but not limited to, disbursement of reasonable attorneys fees and entry on to the real property. In the event of any default hereunder and whether or not an action is instituted to enforce this Trust Deed or the Note, Borrower promises to pay to the Lender any reasonable sum for costs incurred in good faith by Lender. The Borrower shall be liable to Lender for repayment of said amounts together with interest at the highest legal rate not to exceed twenty (20) per cent. 10. No Waiver. Acceptance by Lender of any sums from Borrower or any other person after the same is due shall not constitute a waiver of the right to require full payment or to declare default. The acceptance by Lender of any sum in an amount less than the sum due shall be deemed an acceptance on account and shall not constitute a waiver. 11. Assignment of Rents and Possession. As additional security for any or all of the obligations contained in this Agreement, Borrower hereby assigns and gives a security interest to the Lender in any or all present, future, or after arising rents or leases in the described premises. It shall not be necessary for the Lender to take actual or constructive possession or control of the real estate or rents related thereto, to secure the appointment of a receiver or to take any action tantamount to taking of such possession or control. Borrower