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2� 1 �� 15� 1
<br /> DEED DF TRUST
<br /> tC�ntinued� Pa�� �
<br /> d�ficiency to the extent Lend��is o#herwise entitled to a claim for defiGiency, before or after Lender's commencem�nt
<br /> or�vmpletion�f any foreclvsure actian, either judi�ially ar by exercFse o�a pvw�r of sale.
<br /> PA1fMENT AND PERF�RMANGE. Except�s vtherwis�provided in this De�d of Trust, Borrower artd Trustvr shall pay tv
<br /> �.ender all Indebtedn�ss s�cured by this Deed of Trust as ir becomes due, and Borrower and Trust�r shall stric�ly
<br /> perfvrm all their respecti�e vbligativns under the Note, this Deed vf�rust, and the Related av�uments.
<br /> C�NSTRIJCTI�N IIA�RTGAGE. This ❑eed ❑f Trust is a "�vnstruction mvrtgage" f�r the purposes af Sectivns 9-334
<br /> an� �A-3Q9❑f the Uni#arm Comrnercial Cvde, as those se�tions ha�e been adapted by the 5ta�e of Ne�raska.
<br /> P�5SE551�N ANL� MAINI'ENAN�� QF THE PR�PE�TY. Borrower and Trustor agree that Bvrrvwer's and Trustor's
<br /> passess�vn and use of the Prop�rty shall be go�erned by the follouving pro�isions:
<br /> Passession and Use. Until the �ccurrence of an E�ent of Default, Trustar may �1 f remain in p8ssession and
<br /> �ontrol vf the Property; ��i use, operat�or manage the P�vperty; and �3) collect the �ents from the Property.
<br /> Duty ta Maintain. Trustar shall maintain the �ropert�r in tenant�ble c�ndit�a�n and promptly perfvrm �I1 repairs,
<br /> replac�ments, and maintenan�e necessary to pres�r�e its�alue.
<br /> Cflmpiiance With En�ir�nn�ental Laws. Trustor represents and warrants to Lender that: {1� During the period ❑f
<br /> TrustQr`s own�rshi�a Qf the Rroperty, there has been nv use, generat+vn, manufaGture, starag�, treatment, disposa�,
<br /> rel�ase ❑r threatened release of any Ha�ardous Substance by any persan a�n, und�r, ab�ut ar from the Pr�p�rty�
<br /> [�f Trustor has na knowledge a#, vr reason to belie�e �h�t there has been, except a� pre�iously disclas�d to and
<br /> a�knowledged by Lerrder in writing, ta� any �rea�h or �io�ation of any En�ironmental Laws, {bf any use�
<br /> generat�on, manufacture, storage� #rea#ment, dispQsal, release or threatened release vf any Hazardous Substance
<br /> an, under, about or from the �raperty by any prior ❑wners vr vccupants vf the Property, or tc� �ny actual or
<br /> threatened li#igetion or cleims of any kind by �ny persort relating #o such matters; and t3} Except as pr��iously
<br /> disGl�sed to and acknvwledged by Lender in writing, �af neither Trustar nar any tenant, contr�ctQr, agent ar other
<br /> authvri�ed us�r❑f the Propert�t shall use, generate, manufacture, sta�e, treat, dispase of or rel��se any Hazardous
<br /> Substance on, under, about or from the Property; and �b) any such acti�ity shal� be cvndu�ted in campiiance with
<br /> all ap�plicable federal, stats, �nd Ivcal laws, regufations and ordinances, including without limitation a!I
<br /> Enuironmental Law►s. Trustor aut�vriz�s Lender �nd its agents to ent�r upvn the Rrvperty ta make such
<br /> insp�ections and tests, at Trustar's ea���r�s�, as Lend�r may deern apRrr�p�riate to determine compli�nce Qf th�
<br /> Praperty with this s�c�ion of the ❑eed of Trust. Any inspections vr tests ma�e by Lender shall be for Lender's
<br /> purpases vnly and sha�� nvt be construed tv create any respvns�h��ity or liabil�ty vn the part vf Lender t❑Trustor�r
<br /> t� any oth�r perSvn. The repres�ntations and warranties cvntained herein are based on Trustar's due diligence ir�
<br /> in�estigating the Property fo� Hazardous 5ubstances. Trustor hereby �1} releases and wai��s any future claims
<br /> against Lender f�r indemnity ar cvntributian in th� e�ent Trustor becomes iiable fvr cleanup ar oth�r costs under
<br /> any such laws; and �Zy agree�t� indemnify, def�nd, and hold hafmless L�nd�r against any and a�l claims, Iosses,
<br /> liabilities, damages, penalties, and expenses ►�vhich Lender may directly or indireGtly sustain or suffer resulting#rvm
<br /> a bre�ch af this sec#ion vf the ❑eed of Trust or �s a c�nsequence af any use, generation, manufacture, storage.
<br /> disposa�, r�iease ar threatened release vGcurr�ng privr to Trustvr's awnershi�vr interest in the Prvperty, whether�r
<br /> not the s�me was �r shauld ha�� been known to Trust�r. The prv�isions of this sectiQn t�f the Deed ❑f Trust,
<br /> including the vbligatian tv ind�mnify and defend. �hall su��i�e the p�yment a��the Indebtedness and the satisfactia�n
<br /> and �econ�eyan�e vf the �ien o�this Deed of Trust and shall not be affected by Lender's acqu�s+tivn of any interest
<br /> in th� Praperty, whether by fore�losure ar otherwise.
<br /> Nuisance, Weste. Trustor �hall not cause, �ondu�t vr permit any nuisance n�r commit, permit, c�r suffer any
<br /> stripping of ar wastg on vr to the Praperty ar any portian of the Property. Without limiting �he generality of the
<br /> foregoing, Trustor will not rema�e, vr grant ta ar�y other p�rty the right to remo�e, ar�y tim#�er, minerals �including
<br /> vil and gasf, coal, c�ay, scoria, svil, gra�ef vr rack produc#s withaut Lender's prior written consent.
<br /> Remo�al of lmprv►►ement�. Trustor shall nvt demvlish vr remo�e any Imprv�ements frvm the R�al Praperty without
<br /> Lend�r's priar written c�nsent. As a condition to the r�mo�al of�ny lmpro�ements, Lender may require Trustar tv
<br /> mak� arrangemen#s satisfactary to Lender to replace such Impra�ements with �mpro�ements ❑f at I�ast equ�l
<br /> ��lu�.
<br /> Lender's Right to Enter. LQnder and L�nder's agents and repres�ntati�es may enter upan the R�al Property at al�
<br /> �eason�ble times to attend to Lender's interests and t❑ inspect the Real Prop�rty f�r purpases vf Trust�r'�
<br /> compiiance uvith ths terms and canditic�ns❑f this Dsed o�Trust.
<br /> Complience with Ga�ernmen#�I Requir�mants. Tru�tor shai� promptly comply with all laws, ❑rdinances, and
<br /> regulations. naw or hereafter in ef#ect, o� all go�ernmental authvrities applicable to the use or occupancy vf the
<br /> Property, in�luding with�ut limitativn, the Americans Vllith Disabilities A�t, Trustar may cvntest in goad faith any
<br /> such law, ordin�nce, or regulati�n and withha�d cvmp�iance durin� any proce�ding, in�luding appropriate appeals,
<br /> so I�ng as Trustor has no�i�ied L�nder in uvriting privr tv doing sa�nd sa Iong�s, in L�nder's sole opinion, Lender's�
<br /> interests in the �roperty are nat jeopardiz�d. L�nder may require Trustor to post ad�quat� security ar a sure�y
<br /> hvnd, reasanably satisfactory to Lend�r�ta prot�ct L�nder's interest.
<br /> Duty to Prvtect. Trusta� agrees neither to abandon or I�a�e unattended the F�rap�rty. Trustor shal� dv all ❑ther
<br /> acts, in addition to th�se acts set for�h a�bo►►e in this sect�vn, which from th�character and use of the Property �re
<br /> reasanak�ly ne�essary tv pr�tect and preser�e the P�aperty,
<br /> Constructivn Loan, If some or a�l of the proceeds o#the�aan creating the lndebtedness are to be used t�eanstru�t
<br /> ar camplete cvnstruction of any Impra��ments on the Property, th� Imprv�ements shall be�ompleted n� iater#han
<br /> the m�turfty d�te vf the Note �or such earlier dat��s Lender may rea�onably establish� and Trustor shall pay in f�ll
<br /> ali costs and expenses in GonneGtian with the work. Lend�r will disburse lvan pro�eeds under su�h terms �nd
<br /> cond�t�vns as Lender m�y deem ��asonab�y nece�sary�fl insure#hat the int�r�st created hy thi$Deed o#Trust shall
<br /> ha►►e priority v�er all pvssible��ens, including those vf material suppliers and workmen. Lend�r may require. among
<br /> other things, that disbursement requests bs supported by receipted bills, expense aftida�its. wai�ers af liens.
<br /> construction progress reports, and su�h oth�r do�um�ntativn as Lender may re�sanably r�qu�st,
<br /> DUE DN SALE�C�NSENT BY LEWI]ER. L�nder may, at Lender's option, declar� immedi���ly due and payabie all sums
<br /> secured by this deed ofi Trust upon the sale ar transfer, wit�vu� Lend�rrs prior wr�tten c�n�ent, of all or any par#of the
<br /> Ftea� Prop�rty� or any interest in the Rea1 Prap►erty. A �sale vr transfer" means the �an�eyance ❑f Real Property ar any
<br /> right, titl� ar intere�t in the Real Property; whether legal, bsneficial ar equitable; whether �aluntary vr in►ro�untary;
<br /> whether by outright sale, deed, instaflment sale contract, I�nd �ontra�t, cvntract for �eed, leasehold inter�st with a
<br /> term greater ti�an three �3y years, lease-vptiQn cvntr�ct, or by sale, assignment, vr transf�r o�any benefi�ial in�erest in
<br /> or�v any land trust holding title t� the F�eal Prvperty, or by any ather method of�an�eyance v#an interest in th� Aeal
<br /> Praperty. Howe�er, ��is option shall nvt be exercised b� Lender i� such exerci�e is prohibited hy federal law vr by
<br /> Nebraska law.
<br /> TAXE� AND LIENS. the f�llowin� pro►►isiQns reEating t� th� taxes and �iens a�n �he Property are pert of this Dged of
<br /> Trust:
<br /> Payment. Trus�or shall pay when due �and in all e►►ents privr to delinquencyy a�i taxes, special taxes. assessments,
<br /> �harges �including water and sewerj, tin�s and impositians le�+ed against❑r on account of#he Prop�rty, and shall
<br /> pay wh�n due al� c�aims for wvrk dane on vr for ser�ices rendered ❑r material furnished tv� the Property. Trustvr
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