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<br /> o2-os-2000 DEED OF TRUST ;�Q O U O 1 O-1 C� Page 3
<br /> Loan No 766296 (Continued) ,
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<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor and Borrower agree that"frustvr's•possess�on and use of the Property shall be
<br /> governed by 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 Maintain. 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. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of Trust
<br /> remains a lien on the Property, used for the generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br /> hazardous waste or substance, as those terms are defined in the Comprehensive Environmental Response, Compensation and Liability Act of
<br /> 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act ("SARA"), applicable
<br /> state or Federal laws, or regulations adopted pursuant to any of the foregoing. Trustor authorizes Lender and its agents to enter upon the
<br /> Property to make such inspections and tests as Lender may deem appropriate to determine compliance of the Property with this section of the
<br /> Deed of Trust. Trustor hereby (a) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br /> becomes liable for cleanup or other costs under any such laws, and (b) agrees to indemnify and hold harmless Lender against any and all
<br /> claims and losses resulting from a breach of this paragraph of the Deed of Trust. This obligation to indemnify shall survive the payment of the
<br /> Indebtedness and the satisfaction of this Deed of Trust.
<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 will 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 /> DUE ON SALE—CONSENT BY LENDER. (_ender 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 part 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, beneficial or equitable;whether voluntary
<br /> or involuntary;whether by outright sale, deed, installment 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 beneficial interest in or to any land trust holding title to the Real
<br /> Property, or by any other method of conveyance of Real Property interest. If any Trustor is a corporation, partnership or limited liability company,
<br /> transfer also includes any change in ownership of more than twenty—five percent (25%) 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 exercise is prohibited by federal
<br /> law or by Nebraska law.
<br /> 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. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water
<br /> and 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
<br /> services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority over or equal to the
<br /> interest of Lender under this Deed of Trust,except for the lien of taxes and assessments not due and except as otherwise provided in this Deed
<br /> of Trust.
<br /> PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br /> Maintenance of Insurance. Trustor 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 avoid application of any
<br /> coinsurance clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also procure and maintain comprehensive general
<br /> liability insurance in such coverage amounts as Lender may request with trustee and Lender being named as additional insureds in such liability
<br /> insurance policies. Additionally, Trustor shall maintain such other insurance, including but not limited to hazard, business interruption, and
<br /> boiler insurance,as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to
<br /> Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of Lender,will deliver to Lender from
<br /> time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or
<br /> diminished without at least ten(10)days'prior written notice to Lender. Each insurance policy also shall include an endorsement providing that
<br /> coverage in favor of Lender will not be impaired in any way by any act, omission or default of Trustor or any other person. Should the Real
<br /> Property at any time become located in an area designated by the Director of the Federal Emergency Management Agency as a special flood
<br /> hazard area,Trustor agrees to obtain and maintain Federal Flood Insurance for the full unpaid principal balance of the loan and any prior liens
<br /> on the property securing the loan,up to the maximum policy limits set under the National Flood Insurance Program,or as otherwise required by
<br /> Lender,and to maintain such insurance for the term of the loan.
<br /> EXPENDITURES BY LENDER. If Trustor fails to comply with any provision of this Deed of Trust, or if any action or proceeding is commenced that
<br /> would materially affect Lender's interests in the Property, Lender on Trustor's behalf may, but shall not be required to,take any action that Lender
<br /> deems appropriate. Any amount that Lender expends in so doing will bear interest at the rate provided for in the Note from the date incurred or paid
<br /> by Lender to the date of repayment by Trustor. All such expenses,at Lender's option,will (a)be payable on demand, (b)be added to the balance
<br /> of the Note and be apportioned among and be payable with any installment payments to become due during either (i)the term of any applicabie
<br /> insurance policy or (ii)the remaining term of the Note,or (c)be treated as a balloon payment which wiil be due and payable at the Note's maturity.
<br /> This Deed of Trust also will secure payment of these amounts. The rights provided for in this paragraph shall be in addition to any other rights or any
<br /> remedies to which Lender may be entitled on account of the default. Any such action by Lender shall not be construed as curing the default so as to
<br /> bar Lender from any remedy that it otherwise would have had.
<br /> WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust.
<br /> Title. Trustor warrants that: (a)Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all liens and
<br /> encumbrances other than those set forth in the Real Property description or in any title insurance policy,title report,or final title opinion issued in
<br /> favor of,and accepted by, Lender in connection with this Deed of Trust,and (b)Trustor has the full right,power,and authority to execute and
<br /> deliver this Deed of Trust to Lender.
<br /> Defense of Title. Subject to the exception in the paragraph above,Trustor warrants and will forever defend the title to the Property against the
<br /> lawful claims of all persons.
<br /> DEFAULT. Each of the following,at the option of Lender,shall constitute an event of default("Event of DefaulY')under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Borrower to make any payment when due on the Indebtedness.
<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance, or
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