201501650 - Laserfiche WebLink

Browse

� � ��15�1�5� M • DEED DF TRUST Laan Nv: ��2�4�73 {Continued} Page 3 Real Proper�y, or any in�er�st in the Real Property. A "sale ❑r transfer" means�he con�eyance of Real Praperty or any right, �itle or �nterest in the ReaI Proper�y; whether legal, bene�ficia� ❑r equitahie; whe�her �oluntary or in�olunfiary; whether by ❑utright sale, deed, instaIIment sale con�ract, Iand �ontract, con�ract �ar deed, �easehald interes� wi�h a term greater than�hree {3} years, lease-aptian Gontract, or by sa�e, assignment, or�transfer af any beneficial interes�t in ❑r to any land trusfi holding �ifile �o the Rea� Property, or by any other method of canWeyance ❑f an interest in�khe Rea� Proper�y. HoweWer,'this op�tion sha�I nofi be exercised by Lender if such exercise is prohibited by federal iaw or by Nebraska law. TAXES AND LIENS. The fol�vwing pra�isions reIatFng �❑ �h� �axes and �iens ❑n �he Praperty are par� ❑f�his ❑eed ❑� Trust: Payment. Trustor sha[l pay when due (and in ai� e�ents prior to delinquency} all taxes, spe�ia�taxes, assessmen�ts, �harges �including water and sewer�, �ines and imposi�ivns le�ied aga�ns�ar❑n account a�the Property, and shal! pay when due all c�aims �vr w�rk done on �r�vr ser�ices rendered ❑r mafierial furnished to�he Praperty. Trus�or sha11 main�ain the Praper�y free o-�aII Iiens ha�ing priori�y v�er❑r equal�v�he interest o�Lender under�his Deed p� Trust, except �or fihe �ien a� �axes and assessments no� due, except �for �he Existing �ndebtedness r-eferred to l��low, and except as❑therwise pro�ided in�his ❑eed n�Trust. . Righ�t❑ Cvntest. Trus�or may ws�thhold payment of any tax, assessmen�, ar �lasm in connec�ion wi�h a good faith dispute v�er�he ol�liga�ian to �ay, sa long as Lender's in�erest in�h� Property is not jeopardized. 1�a lien arises or is �iled as a resul� ❑� nonpaymen�, Trust�r shaf[ within �i�teen {�5� days afker the lien arises ar, �� a �ien is filed, wi�hin fifteen {�5� days after Trusfior has no�ice of the filing, se�ure the discharge ofi the lien, ❑r if requested by Lender, deposi�with Lender cash❑r a sufficien�co�porat�surety bond vr athe�-securi�y satis�ac�ory to Lender in an amoun�su�fficien�ta discharge the lien pius any costs and a��orneys' �ees, or other charges�hat could a�cru� as a resu�t of a fareclvsure ar sale under�khe lien. In any cont�st,Trus�or shall defend itse��and Lender and shall sa�is�y any adWerse judgment befare enfvrcemenfi against�he Proper-�ky. Trustar shall name Lender as an addi�ional ok�[igee under any surety bvnd^-�urnished in the contest proceedings. Evidence of Paymen�. Trustor sha�I upon demand furnish�❑ Lender safiisfactory evidence af payment❑f the taxes or assessments and shall au�horize�he appropriafie gvWernmen�al ❑fficial�❑ de�i�e�-�❑ Lende� a� any time a wrEtten statemen�of the�axes and assessmen�s against�he Proper�y. Notice vf Constru��ion. Trus�or shalE notify L�nder at leas�fitteen {�5}.days before any wvrk is commenced, any servic�s are furnished, vr any materiais are supplied to the P�operty, i�f any mechanic's �ien, ma�erialmen's lien, ❑r ❑ther lfen �auld be asserted an account af�he work, ser�;ces, or materials. Trus�or will upon reques� ❑f�Lender furnish �o Lender ad�ance assurances sa�isfac�ary to Lender that Trus�or can and will pay �he cost of such impro�emen�s. � PR�PERTY DAMAGE�NSURANCE. The�ollaw�ng pr��isions relafiing to insuring�he Praper�y are a par�vf this I�eed ❑f Trust. . Maintenance o� �nsurance. Trus�or shall pr��ure and maintain policies ofi fiire insurance with s�andard exfiended coWerag� endorsements on a replacemen� �asis for the ful� insurable �alue co�ering a[l ]mpra�ements �n the Real � Praperky in an amaun� suf�icien� fio a�oid application ❑f any �ainsurance clause, and with a standard mor�gagee � clause in fav�r❑�Lender,together with su�h other hazard and liabili�y insurance as Lende�r may reasonahly require. Palic�es shal� be wri��en �n form, amounfis, co�erages and hasis reasanably ac�eptable to Lend�r and issued by a ��mpany v� companies reas�nably ac�eptable tv Lender. Trus�ar, upan request o� Lender, v+ri�l deliWer to Lender from time�o time �he pa[i�ies or certi�ica�es of insurance in form satisfiac�ory�o Lender, Encluding stipu�afiions that I cvverages wi�f not he cance�led ❑r diminished wifihou� afi �eas��en �1�} days prior wri��en n�tice ta Lender. Each � insuran�e policy also shall include an endorsement prowiding thafi cv�erage in fa�or o� Lender will nv� 1�e impaired in any way by any ac�, ❑missian vr de�Fault af Trus�or vr any other person. 5hauld the Real Property be located in an area des�gnated by the Administra�or❑��khe Federal Emergency Managemen�Agency as a spe�ial �iood hazard area, Trus�or agr�es fi❑ ab�kain and main�ain F�deraj Flovd [nsurance, if a�ailable, wi�hin 45 days a-�-ker not�ce is gi�en by Lender that�he Praper�y is loca�ed in a spe�ial �Ivod ha�ard area, for�he ful[ unpaid principa[ laalance o� �he loan and any priar liens ❑n the praperty securing the laan, up to the maximum poli�y limi�s set und�r the Natianal Flaod lnsuran�e Program, or as otherwise required by Lender-, and to main�ain such insurance�or�he�erm ❑�the Ivan. � � Applicaf�vn of Praceeds. T�ustar shall pr�mpt�y notify Lender of any loss ❑r damage tv�he Praperty. Lender may make pr�of of Ivss if Trustor �ails fio d❑ s❑ wi�hin fifteen ��5} days of �he casua�ty,� 1lVhefiher v�- nvt Lender`s security is impaired, Lender may, afi Lender's election, recei�e and retain �khe pro�eeds a� any insuranc� and apply �he proceeds �❑ the reduction af the lndehtedness, paymen� af any [ien affecting the Prvper�y, or the r.estora�ion and repair�f the Property. 1�Lender elec�ks �o apply�he proceeds to res��ra�ion and repair, Trus�to� shall r�pair ❑r � replace �he damaged or destroyed Improvements in a manner satisfiactary �o Lender. Lender shall, upvn satisfac�ary proo� ❑f such expenditure, pay ❑r reimburse Trustor from the proceeds far the reasonable cost af � re air ❑r res�v�atian i� Trus�ar is no� in defaul� under this ❑eed of Trust, Any praceeds which ha�e no� been p disbursed within 18� days a�fter their receipt and �rvhich Lender has na� commifi�ed �o the repair ❑r restoratian af the Property sha�� be used first t❑ pay any amaun�owing t❑ Lender und�r this Deed of Trus�, �hen�o pay accrued interest, and �he remainder, i� any, shall be applied �o the prin�ipa� balance of�he lndeb�edness. lf Lender holds any pr�ceeds after payment in full af �he Indebtedn�ss, such proceeds sha�l be paid to Trus�or as Trusto�-'s interes�s may appear. i � i