|
2� 15�8595
<br /> DEED DF TRUST
<br /> ��ontinued� Pa�e �
<br /> Haxardous Subs#ences. Trustor represents and warrants that the Praperty ne�er has been, and ne�er wifl be so
<br /> iong as this [�eed vf Trust remains a lien on the Praperty, used far the generativn, manufacture, st�rage.
<br /> #reatment, disposal, release or threatened release af any Hazardous 5ubstan�e in �iolation a� any En�ironmental
<br /> Laws. Trustar authorizes Lender and its agents t❑ enter upon the Praperty ta make such inspeGtians and tests as
<br /> Lender may deern appropriate to determine cvmp�iance of the Property with this sectivn of the Deed of T�ust.
<br /> Trustor herehy �1 y re�eases and wai�es any future claims against Lender for indemnity or contribution in the e�ent
<br /> Trust�r becomes liable far cleanup ar other costs under any such laws, and �Zy agrees t❑ indemnify, defend, and
<br /> hald harm�ess Lender against any and all �laims and losses resulting from a breach of#his paragraph❑f the Deed of
<br /> Trust. This ❑bligati�n t❑ indemni�y and defend shall survi�e the payment❑f the lndebtedness and the satisfaction
<br /> ❑f this ❑e�d of Trust.
<br /> DUE DN SALE- C�NSENT BY LENDER. Lender may, at Lender's option, dec�are immediately due and payab�e all sums
<br /> secured by this Deed of Trust upan the saie or transfer, without Lender's prior written cvnsent, of al�or any part af the
<br /> Real Property, or any interest in the Real Property. A "safe or transfer" means the con�eyance of Real Property ar any
<br /> right, t�tle or int�rest in the Real Property; whether legal, heneficial ar equitable; wh��her �oluntary or in�vluntary;
<br /> whether by outright sale, deed, insta�finent sale cvntract, �and cantract, contract fvr deed. leasehold int�rest with a
<br /> term greater than three (3� years, Eease-optian contract, or k�y sale, assignment, or transfer flt any heneticial in#erest in
<br /> or to any land trust hoiding tit�e t❑the Real Prv�erty, or by any �ther method af con�eyance ❑f an interest in the Reai
<br /> Prvperty. If any Trustvr 'rs a c�rporation. partnership or limit�d liability cvmpany, transfer alsa inc�udes any change in
<br /> ownership of more than twenty-fi�e percent �25°/0� af the�oting stock, partnership interests or limited liab+lity company
<br /> inter�sts, as the case may be, of su�h Trustar. Hvwe�er, this option shall not be exercised by Lender if such exercise
<br /> is prohihit�d by federal law vr by Nebraska law.
<br /> TAxES AND LIENS. The fol�owing pro�is�ons relating to the taxes and liens on the Property are part of this ❑e�d of
<br /> Trust:
<br /> Payment. Trustor shal� pay whsn due �and in all e�ents Ar�ar t❑ d�linquencyy all taxes, special taxes, assessrnents,
<br /> charges �including water and sewery, fines and impositians levied agains� or on account of the Property, and shall
<br /> pay when due all claims for work done on or far ser�ices rendered or material furnFshed to the Property. Trustor
<br /> shall maintain the Property free of all liens ha�ing priarity❑��r�r equal td the inter�st of Lender under this Deed of
<br /> Trust, except far the I�en of taxes and assessments not due and except as ❑therwise prv�ided in this ❑eed of
<br /> Trust.
<br /> PR�PERTY DAMAGE INSURANCE. The fallawing pro�is�vns relating to insuring the Pr�perty are a part of this Deed of
<br /> Trust.
<br /> Maintenance vf lnsurance. Trustvr shall procure and rnaintain palicies at fire insurance with standard extended
<br /> co�erage endorsements on a replacem�nt basis for the full insurabfe �alue ca�ering aEl lmpro�ements on the Real
<br /> Prvper�y in an amount su�ficient to a�oid appli�ation ❑t any coinsurance clause, and with a standard mvrtgagee
<br /> clause �n fa�nr�f Lender. Trustor shall als❑ pracure and maintain �omprehens��e general IiabiEity insurance in such
<br /> ca�erage amounts as Lender may request with Trustee and Lender being named as additianal �nsureds in such
<br /> liabifi#y insurance palicies. Additi�nally, Trustor shall maintain such other insurance� including but not limited to
<br /> hazard, business interruption, and boiler insurance, as Lender may reasanably require. Poli�ies shall be writ�en in
<br /> fvrm, amounts, co�erages and hasis r�asanably a��eptahie to Lender and issued hy a cvrnpany or companies
<br /> reasonably acceptable to Lender. Trustor, upan request of Lender, wiEf deii�er to Lender from time to time the
<br /> palicies or certificates of insurance in farm satisfactary to Lender, �n�luding stipulatians that co�erages will not be
<br /> cancelied or diminished wEthout at least ten t 1�f days privr writt�n natice ta Lender. Ea�h insurance pvlicy also
<br /> shall in�lude an endorsement pro�iding that co��rage in fa�or of Lender will nat be impaired in any way by any act,
<br /> omission or default of Trust�r or any other person. Shou�d the R�af Prop�rty be located in an area designated by
<br /> the Administrator of th� Federal Emergency Management Agen�y as a special flood hazard area, Trus�or agrees t❑
<br /> obtain and maintain Federal Flavd Insurance, if a�aifable, for the fulE unpaid principal balance of the Ivan and any
<br /> privr liens on the pr�perty securing the Ioan, up to the maximum poii�y fimits set under the National Flood
<br /> lnsurance Program, or as ❑�herwise required by Lender, and to maintain such insuranc�for the term of the Ivan.
<br /> LENDER'S EXPENDITURES. If any actian ❑r proceeding is commenced that would materially af�ect Lender's interest in
<br /> the Property or if Trustor fails to camply with any pra�ision a�this Deed of Trust or any Related Dacuments, incfuding
<br /> but not limited ta Trustor's failure to discharge or pay when due any amounts Trustvr is required to discharg� or pay
<br /> under this Deed of Trust ar any Re�ated Do�uments, Lender vn Trustor's behalf may �but shall not be obligated to� take
<br /> any acti�n that Lender deems apprapriate on the Property an� paying all cvsts for insuring, maintaining and preser�ing
<br /> the Property. All such expenditures incurred ❑r paid by Lender for such purposes will then bear interest at the rate
<br /> charged under the Nate frorn th� date incurred vr paid by Lender t❑ the date of repayment by Trustor. All such
<br /> expenses will become a part of the Indebtedness and, at Lender's ❑ption, will �A� be payable on demand; �By be
<br /> add�d to the balance��the Nvte and he appartivned amvng and be payable with any insta�lment payments to became
<br /> due during either f 1� the term �f any applicable insurance policy; or ��f the remaining term of the Note; ❑r {C� be
<br /> treated as a balloon payment which will be due and payable at the Nat�'s maturity.
<br /> WARRANTY; DEFENSE❑F T1TLE. The fallowing pro�isions relating to ownership af the Property are a part of this Deed
<br /> of Trust:
<br /> TEtle. Trustar warrants that: �ay T�ustor holds gaod and marketable title of record ta the Property in fee simple,
<br /> free and clear of all liens and encum�rances ❑ther than those set farth En the Real Property description ar in any
<br /> title insurance policy, #it�s report, or final title apinion issued in fa�or of, and accepted by, Lender in connection
<br /> with this ��ed of Trust, and f by Trustar has the full right, power, and autharity to execute and deli�er this Deed of
<br /> Trust to Lender.
<br /> Defense �f Title. 5ubject t❑ the exceptivn in the paragraph abo�e. Trustvr warrants and wil! �vre�er defend the
<br /> title ta the Property against the lawful claims❑f all persans.
<br /> EVENTS OF DEFAULT. Each af th� foliowing, at Lende�'s option, sha�l constitute an Event ❑f Default under this Deed
<br /> of Trust:
<br /> Paymen#Default. Borrower fails t❑make any payment when due under the lndebtedness.
<br /> Dther Defaul#, Trustor fails ta c�mply with any other term, obiigation, co�enant ar canditian contained in this Deed
<br /> of Trust❑r in any of the Rela�ed Do�uments.
<br /> Complian�e �efault. Failure to comply with any ❑ther term, abligativn, co�enant ❑r condition con�tain�d in this
<br /> Deed o#Trust,the Note❑r in any❑f#he Related �ocuments.
<br /> De�ault on ather Payrnents. Faifure of Trustor within the time required by this Deed of Trust to make any payment
<br /> far taxes ar insurance, ar any other payment necessary ta prevent filing vf or t❑effect discharge of any iien.
<br /> Detauit in Fs�or of Third Parties. Shauld Barrower or any �rantvr default under any Ivan, extension af credit,
<br /> se�urity agreement, purchase or sales agreement, or any other agr�ement, in fa�vr of any❑ther creditar vr pgrson
<br /> that may materiai�y affect any ❑� Borrvwer's or any Grantar's property vr Borrower's ahiiity to repay the
<br /> Indebtedness or Sorrower's or Gran�or's ability t❑ perform their respecti�e ❑bligetions under ihis fleed nf Trust ❑r
<br /> any related document.
<br /> Death ar Insol►►ency. The dissalution of Trustor's {regardless af whether e�ectian to continue is madef, any
<br />
|