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201601967
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Last modified
4/4/2016 11:50:28 AM
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4/4/2016 11:50:27 AM
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DEEDS
Inst Number
201601967
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20160190 <br />4. Damage to Property - In case of any damage to, or destruction of, <br />the buildings, improvements or personal property constituting part of the <br />Property, whether such loss is covered by insurance or otherwise, Trustor, at <br />Trustor's sole cost and expense, will promptly restore, repair, replace and <br />rebuild the same as nearly as practicable to its condition immediately prior <br />to such damage or destruction or with such changes and alterations as Trustor <br />may deem appropriate, provided such changes and alterations do not materially <br />lessen the value and utility of such buildings, improvements and personalty <br />from that existing immediately prior to such damage or destruction. <br />5. Insurance - Trustor, at Trustor's sole expense, will maintain with <br />insurers approved by Beneficiary, insurance on the improvements and personal <br />property, if any, constituting part of the Property against loss by fire, <br />lightning, tornado, and other perils covered by standard extended coverage <br />endorsement, in an amount equal to at least one hundred percent of the full <br />replacement value thereof; and insurance against such other hazards and in <br />such amounts as Beneficiary may require for its protection. Trustor will <br />comply with such other requirements as Beneficiary may from time to time <br />request for the protection by insurance of the interest of the respective <br />parties hereto. All insurance policies maintained pursuant to this Deed of <br />Trust shall name Trustee and Beneficiary as insureds, as their respective <br />interests may appear, and provide that there shall be no cancellation or <br />modification without fifteen days prior written notification to Trustee and <br />Beneficiary. In the event any policy hereunder is not renewed on or before <br />fifteen days prior to its expiration date, Beneficiary may procure such <br />insurance and the cost thereof shall be added to the note secured by this Deed <br />of Trust and shall bear interest at the greater of the interest rate specified <br />therein or the highest rate then authorized by the laws of the State of <br />Nebraska. Trustor shall deliver to Beneficiary the original policy(ies) of <br />insurance and renewals thereof or memo copies of such policies and renewals <br />thereof. Failure to furnish insurance by Trustor, or renewals as required <br />hereunder, shall, at the option of Beneficiary, constitute a default. All <br />unearned premiums are hereby assigned to Trustee as additional security and a <br />sale and conveyance of the Property by the Trustee shall operate to convey to <br />the purchaser the Trustor's interest in and to all policies of insurance upon <br />the Property. If Beneficiary shall so request, Trustor agrees that there <br />shall be added to each periodic payment required to be made under the note an <br />amount estimated by Beneficiary to be sufficient to enable Beneficiary to pay, <br />at least 30 days before delinquency, the premium(s) for each and all of the <br />insurance policies maintained pursuant to this Deed of Trust, and no interest <br />shall be payable to Trustor in respect thereof. Upon demand by Beneficiary, <br />Trustor shall deliver to Beneficiary such additional sums of money as are <br />necessary to make up any deficiency in the amounts necessary to enable <br />Beneficiary to pay any such insurance premiums. <br />6. Taxes and Assessments - Trustor shall pay all taxes and special <br />assessments levied or assessed against or due upon the Property before <br />delinquency, and will deliver to Beneficiary copies of receipts showing <br />payment of such taxes and special assessments. If Beneficiary shall so <br />request, Trustor agrees that there shall be added to each periodic payment <br />required to be made under the note an amount estimated by Beneficiary to be <br />sufficient to enable Beneficiary to pay, at least 30 days before delinquency, <br />all taxes, assessments or other public charges against the Property, the note <br />secured by this Deed of Trust, or upon account of the debt or the lien of this <br />Deed of Trust, and no interest shall be payable to Trustor in respect thereof. <br />Upon demand by Beneficiary, Trustor shall deliver to Beneficiary such <br />additional sums of money as are necessary to make up any deficiency in the <br />Page 3 of 9 Pages <br />
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