|
��15�3797
<br /> �EE� �F TRU�`f
<br /> ��ar�tinr��d� Pag� � ,
<br /> Hazardous Subs�ances, Trustor represents and warran�s that the Property neWer has �een, and ne�er will be s�
<br /> long as �his ❑eed af Trus� remains a lien on the Pr�p�rty, us�d for th� g�neration, manufacture, storage,
<br /> treatment, disp�sal, r��ease or threatened release o� any Ha�ardous 5ubs�ance in �iala�ion of any En�ironmental
<br /> Laws. Trustor author�zes Lender and i�s ag�nts �o enter upon the Property to make such inspecfii�ns and tests as
<br /> Lender may deem apprapriafie to determine compliance o� the Property with this section of the Deed ❑f Trust.
<br /> Trusfior her�by {�� releases and wai�es any future cfaims against Lender for indemnity or contribution in the event
<br /> Trustor b�comes fiable for c[eanup ❑r❑ther c�sts under any such laws, and ��y agrees to indemnf�y, defend, and
<br /> hold harml�ss Lender against any and a[l claims and ��sses resulting fram a br�ach of this paragraph�f�he Deed a�
<br /> Trus�. This �bligation to indemnify and d�f�nd shall sur���e the payment of the [ndebtedness and the satisfacti�n
<br /> �f this ❑eed of Trust.
<br /> DUE aN S�►LE- GDNSEN�' EY LEIVDER. Lender may, at Lender's option, dec�are immediafiely due and payable all sums
<br /> secur�d i�y�his Deed of Trust upon�he sale or firansfer, wi�hout Lender's prior wrifiten cansen�, of all or any part of the
<br /> Real Praperty, or any interest in�he Rea� Proper�y. A "sa�e or�ransfer" means fihe con�eyance of Real Pr�perty or any
<br /> right, �i�le or interest in -�he Real Property; �vhether fegal, hene�ic�a[ or equitab�e; whether �oluntary or in�afun�ary;
<br /> whether by ou�righ� sale, deed, ins�allment sa�e c�ntract, land cantract, contract for deed, leasehold interest �i�h a
<br /> te�m g�ea�er�han�hr�� �3} years, lease-option cantrac�, or by sale, assignment, or transfer of any beneficial interest in
<br /> or to any land �rust holding ti�le to the Real Property, or by any ❑ther methad o# can�eyance of an interes� �n �he Real
<br /> Praperty. [f any Trustor is a corpora�ian, partnership or lirnited liability c�mpany, transfer also incfudes any change �n
<br /> ownership of mor� than twenty-five percent (�5°/a} of�he��ting stock, partnership interests flr limit�d liability company
<br /> �n�eres�s, as �he case may be, af such Trust�ro H�wever, this ❑ption shall not he exercised by L�nder i�such exerc�se
<br /> is prohibited �y federal law or by Nebraska favv.
<br /> TAXES AND L11EN5. The f�llav�ring proWisions relating to the taxes and liens on the Prape�ty are part a� this Deed ❑�
<br /> Trus�:
<br /> Paym�nfi. Trustor shall pay wh�n due �and in all �Wents prior t� de��nquency} all taxes, special�axes, ass�ssments,
<br /> charg�s �incfuding wa�er and sewe�}, fines and impositions [e�ied against �r on account vf the Praper�y, and sha��
<br /> pay when due all c�a�ms �ar work done an or for ser�ices rendered or ma�erial furnished to �he Praper�fiy. Trus�or
<br /> shall ma�n�ain�he Praperty free af a[[ liens ha��ng priority a�er�r equaf ta the interest of Lender under�his Deed of
<br /> Trus�, excep� i`or the ��en o-� taxes and assessments not due and except as fltherwise pro�ided in this Deed o�
<br /> Trust.
<br /> PRDPE�TY �]AMA�E IIVSURANCE. The f�llowing p�aWisi�ns relating to insuring the Proper�y are a part❑f th�s Deed ❑f
<br /> Trus�.
<br /> Mainfienan�e vf Insuran�e, Trustar sha�� procure and ma�ntain policies �� �ire insurance with standard extended
<br /> �oWerage endorsemen�s on a replacement hasis far the full insurable �a�ue ca�ering al� Impra�ements on �he R�a[
<br /> Pr�perty in an amount suffiGien� to a�oid applica�ion afi any coinsurance clause, and with a �tanda�d mor�gagee
<br /> clause in fa�or of Lendero Trus�or shall also pro�ure and maintain comprehensi�e general liability�nsurance in such
<br /> co��rage amounts as Lender may request with Trus#ee and Lender being named as addi�ional insureds in such
<br /> liability �nsurance po[icies. Add�tiona��y, Trustor shall maintain 5llGrl o�her insurance, including but not limified to
<br /> hazard, business interrup�ian, and bo��er insuran�e, as Lend�r may reasonab[y re�uire. Policies shall be writfien in
<br /> f�rm, amoun�s, �overages and �asis reasonably ac�eptable to Lender and issued by a cornpany ❑r companies
<br /> reasonably accep�able to Lender. Trustor, upon request of Lender, wi�1 deli�er ta Lend�r from �ime �to �im� the
<br /> p�l�cies or certificates of insurance in �orm sa�isfactory to Lender, including stipulatians that co�erages wi�� not be
<br /> �ancelled ar diminished without at least ten �1�y days prior written natice ta Lender. Each insurance policy also
<br /> sha�� inc[ude an endorsement pro�iding tha�cQ�erage �n fa�or o�Lender will not he impaired in any way by any act,
<br /> omission or default of Trustor or any ather pers�n. Shoufd the R�al Praperty he located in an area d�s�gna�ed by
<br /> the Adm�nistrator af the Federal Emergency Management Ag�ncy as a special flo�d hazard area, Trustor agrees ta
<br /> obtain and rna�ntain Federal F�ood Insuranc�, if available, �or the full unpaid principal balance af �he �aan and any
<br /> prior (iens �n �he property securing �he IQan, up to the maximum poficy limi�s s�t und�r the National Fiood
<br /> Insurance Pragram, or as othervtirise required by Lender, and t� maintain such �nsurance�or�he�erm o-�the laan.
<br /> LEN�ER'S EXPEIV�ITURES. If any act�on or proceeding is commenced that would mater�a��y affect Lender's interest in
<br /> �he Property o� if Trustor faifs t� comply wi�h any pr��isi�n of this Deed of Trust or any Related Documents, including
<br /> but nat limi�ed to Trustor's failure to d�scharge or pay when due any amoun�s Trust�r is r�quired to discharge �r pay
<br /> under this Deed ��Trust❑r any Rela�ed Dacuments, Lender on T�ust�r's beha[f may �hu�shall not be o�liga�ed �o} take
<br /> any action �hat Lender deems appropriate on the Property and paying all Gos�s far insuring, maintaining and preser�ing
<br /> th� Proper�y. Alf such expenditures incurred ar paid by Lender �flr such purposes wi�� th�n bear interest at the rate
<br /> charged under the Note from the date incurred ar paid by Lender to the date o� repayment 1�y Trus�ar. AI[ su�h
<br /> expenses will �ecome a par� o�F �he lndebtedness and, at Lender's option, �rv��i {A} be payabie on demand; �B} be
<br /> added �o the ba[ance of�he N�-�e and he appartioned among and be pa�a��e wi�h any installment payments fio be�ome
<br /> due during either �1} �he term �f any app��cab[e insurance policy; or �2} the �emaining term of the Note; or �C� be
<br /> �treated as a ba[toon payrr�en�vvhich vuill be due and payabl� at the Note's maturity.
<br /> I1�ARRANTY; DEFENSE DF T1TLE. The f�ll�wing pro�isians rela�ing�o vwnership❑-�the Properfiy are a par�af�his Deed
<br /> �f Trust:
<br /> T�t�e. Trustor warrants fihat: �a} Trus�or hofds good and marketa��e �i�le of r�c�rd to �he Pr�perty in fee simple,
<br /> free and c[ear of all liens and encumbrances o�her than thase set �orth �n the Rea� Property descripfiion ❑r in any
<br /> title insurance policy, �i�le repor�, or final title opinion issued in fa��r o�, and accepte� i�y, Lender in connec�ian
<br /> with th�s Deed of Trust, and �b� Trus�or has the#u�l right, power, and au�hority ta execute and deli�er this ❑eed of
<br /> Trust�o Lender.
<br /> Defense vf �i�[�. 5ubject to th� exception in �he paragraph abo�e, Trus�or warrants and wiil �are�er defend the
<br /> title�o fihe Pr�pe�ty against the lawful claims o�a�� pers�ns,
<br /> E11ElVT5 �F �EFAULT. Each of the foflowing, at Lend�r�5 option, shall �onsti-�ute an E�ent of De�ault unde� th�s Deed
<br /> of Trust:
<br /> Payrnen#❑efauit. Trustor fails to make any payment when due under�he inde�tedn�ss.
<br /> Dther Default. Trustor-�a��s to compiy w�th any other�erm, obliga�ion, co�enant or condi�ion contained in this Deed
<br /> of Trus�or in any o�F the Reiat�d Docum�nts,
<br /> Camplian�e �efau[t. Failurs �a c�mpfy trvith any o�her term, abfigati�n, cQ�enant �r condi�ion contained in �his
<br /> ❑eed of Trust, the No�e or in any af the Rela�ed ❑acumenfis.
<br /> 1]e�ault on �ther Paym�nts, Fa��ure of Trusto€-within th�time required by�his Deed �f Trust to make any paymen�
<br /> for�axes�r insurance, or any other payment necessary to preW�nt fi[ing ofi or to ef�ect discharge a�any l�en.
<br /> Defautt i� Fa►�or of Third Parties, Should Grantor defaul� under any loan, extensian of credit, secur��y agreement,
<br /> purchase or safes agreement, or any other agreement, in fa�or of any o�her credi�or or person�that may ma�erially
<br /> a�F�ect any �f Grantvr`s proper�y or Grantor's ability t� repay the lndebt�dn�ss or Grant�r's abi[ity t� per�orm
<br /> Grantor's obligatians under this Deed flf Trust ar any refated document.
<br /> Death vr �nsole�enc}�. The dissolution of Trustor's {regardless of whether election ta cantinue is made}, any
<br /> member vv�thdraws �rom th� limited l�ab���ty company, ❑r any o�her termina�ion af Trus�orr5 �xistence as a going
<br />
|