|
204002633
<br />4. ENVIRONMENTAL COMPLIANCE. Trustor shall comply with all federal, state, and
<br />local environmental laws, ordinances, rules, requirements, regulations, and publications as now existing or
<br />hereafter existing, amended, supplemented, or supplanted relating to the preservation of the environment or the
<br />regulation or control of toxic or hazardous substances or materials. Trustor hereby warrants and represents to
<br />Beneficiary that there are no toxic or hazardous substances or materials on or under the Property. Trustor does
<br />hereby indemnify and hold Beneficiary harmless and any successors to Beneficiary's interest from and against
<br />any and all claims, damages, losses, and liabilities arising in connection with the presence, use, disposal, or
<br />transport of any substance which is the subject of any environmental law, regulation, or control of toxic or
<br />hazardous substances or materials on, under, from, or about the Property. This indemnity shall survive
<br />reconveyance of the Property secured by this Trust Deed.
<br />5. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any
<br />action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee,
<br />and shall pay all costs and expenses, including cost of evidence of title and attorney's fees, in any such action
<br />or proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to make any payment or to do
<br />any act as and in the manner provided in any of the Loan Instruments, Beneficiary and/or Trustee, in its own
<br />discretion, without obligation so to do and without notice to or demand upon Trustor and without releasing
<br />Trustor from any obligation, may make or do the same in such manner and to such extent as either may deem
<br />necessary to protect the security hereof. Trustor shall, immediately upon demand therefor by Beneficiary, pay
<br />all costs and expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing
<br />rights, including without limitation costs of evidence of title, court costs, appraisals, surveys and attorney's fees.
<br />Any such costs and expenses not paid within ten (10) days of written demand shall draw interest at the default
<br />rate provided in the Note.
<br />6. EMINENT DOMAIN. Should the "Crust Estate, or any part thereof or interest therein,
<br />be taken or damaged by reason of any public improvement or condemnation proceeding, or in any other manner
<br />including deed in lieu of Condemnation ( "Condemnation "), or should Trustor receive any notice or other
<br />information regarding such proceeding, Trustor shall give prompt written notice thereof to Beneficiary.
<br />Beneficiary shall be entitled to all compensation, awards and other payments or relief therefor, and shall be
<br />entitled at its option to commence, appear in and prosecute in its own name any action or proceedings.
<br />Beneficiary shall also be entitled to make any compromise or settlement in connection with such taking or
<br />damage. All such compensation, awards, damages, rights of action and proceeds awarded to Trustor (the
<br />"Proceeds ") are hereby assigned to Beneficiary and Trustor agrees to execute such further assignments of the
<br />Proceeds as Beneficiary or Trustee may require.
<br />7. FUTURE ADVANCES. Upon request of Trustor, Beneficiary, at Beneficiary's option,
<br />prior to reconveyance of the Property to Trustor may make future advances to Trustor. Such future advances,
<br />with interest thereon, shall be secured by this Deed of Trust when evidenced by promissory notes stating that said
<br />notes are secured hereby.
<br />8. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time,
<br />by a written instrument executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the County
<br />in which the Trust Estate is located and by otherwise complying with the provisions of the applicable law of the
<br />State of Nebraska substitute a successor or successors to the Trustee named herein or acting hereunder.
<br />9. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit
<br />of and binds all parties hereto, their heirs, legatees, divorcees, personal representatives, successors and assigns.
<br />The term "Beneficiary" shall mean the owner and holder of the Note, whether or not named as Beneficiary herein.
<br />10. INSPECTIONS. Beneficiary, or its agents may make reasonable entries upon and
<br />inspections of the Property. Beneficiary shall give Trustor notice at the time of or prior to an inspection
<br />specifying reasonable cause for the inspection.
<br />11. TRUSTOR NOT RELEASED; FORBEARANCE BY BENEFICIARY NOT A
<br />WAIVER. Extension of the time for payment or modification of amortization of the sums secured by this
<br />Security Instrument granted by Beneficiary to any successor in interest of Trustor shall not operate to release the
<br />liability of the original Trustor or Trustor's successors in interest. Beneficiary shall not be required to commence
<br />proceedings against any successor in interest or refuse to extend time for payment or otherwise modify
<br />amortization of the sums secured by this Security Instrument by reason of any demand made by the original
<br />Trustor or Trustor's successors in interest. Any forbearance by Beneficiary in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />12. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN TRUSTOR.
<br />If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Trustor
<br />is sold or transferred and Trustor is not a natural person) without Beneficiary's prior written consent, Beneficiary
<br />may, at its option, require immediate payment in full of all sums secured by this Security Instrument, however,
<br />this option shall not be exercised by Beneficiary if exercise is prohibited by federal law as of the date of this
<br />Security Instrument. If Beneficiary exercises this option, Beneficiary shall give Trustor notice of acceleration.
<br />The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within
<br />which the Trustor must pay all sums secured by this Security Instrument. If Trustor fails to pay these sums prior
<br />2
<br />
|