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2� 1 ��2778
<br /> DEED �F TRUST
<br /> ��ontinued� Page 3
<br /> ❑UE�N SALE - CDNSENT BY LENDER. �ender may, at Lender`s option, declare immediately due and payable a�l sums
<br /> secured by�his Deed af Trus� upon the sa[e or transfer, without Lender's prior written cansen�, of ai� or any part o�the
<br /> Rea� Praperty, vr any int�rest in the Real Praperty. A "sa�e or�ransfer" means the can�eyance of Real Property or any
<br /> righfi, ti'�le ar interest in the Real Property; whe�her le�af, benefi�ia� vr equi�abte; whether �a�untary or involuntary;
<br /> whether by outright sa1e, deed, installment sale contract, land contrac�, con�ract fv� deed, leasehold �nterest with a
<br /> term greater�han three �3� years, lease-option can�ract, vr by sale, ass�gnment, or transf�r ❑f any beneficial int�rest in
<br /> or to any land trus� ha�ding titfe to rhe Rea[ Proper�y, ❑r by any oth�r method of can�eyance of an interest in the Real
<br /> Praperty. if any Trustor is a corpora�ivn, partnership or lirnited iiabilifiy company, trans�er also inc�udes any chanc�e in
<br /> ownership of more than twenty-�i�e �ercent �25°/Q} of the �oting s�ock, partnership interests or�imited liability company
<br /> int�res�s, as the case may be, o�such Trustor. Howe�er, this opti�n shall not t�e exercised hy Lender if such exercise
<br /> is prohibit�d by feds�a� law or by Nebraska �aw.
<br /> TAXES AND L[ENS. The f�l[owing pro�is�ons relating ta the taxes and liens ❑n the Prop�r�y are par� of th�s D�ed of
<br /> Trus�;
<br /> Payment. Trustor shall pay when due �and in al� e�en�s priar ta delinquency� a11 taxes, special taxes, assessments,
<br /> �harges {in�luding water and sewer}, fines and imposi�ions le�ied against or on account o�the Property, and shall
<br /> pay when due all claims for w�rk done on or for ser�i�es rendered ❑r material #urnished to the Prape�ty. Trus�or
<br /> shall main�ain�he Property �ree a�a�l liens ha�ing priority o�er or equal to�he interest of Lender under�his Deed ot
<br /> Trust, except �ar �h� lien of taxes and ass�ssmen�s not due and exc�pt as otherwise pro�ided in this Deed ��
<br /> Trust.
<br /> Right to�vntest. Trustor may withhold payment vf any tax, assessment, or claim in canne��ion with a gvvd faith
<br /> dispute o�er�he obligation to pay, so [ang as Lender's interest in the Pr�perty is not je�pardized, lf a lien arises vr
<br /> �s f��ed as a r�sul� af nonpaym�nt, Trustor sha�l within �ifteen �15} days a�ter the lien arises vr, i� a lien is �iled,
<br /> wzthin fif�een �15� days af�er Trustor has natice of the filing, se�ure the d�scharge o� the lien, or if reques�ed by
<br /> L�nder, dep�sit with Lender�ash❑r a sufficient carporat�surety bond or other security satisfactvey to Lender in an
<br /> amount su�fiicient to discharge the lien plus any �osts and attorneys' fees, or ather cha�ges�hat could accrue as a
<br /> result of a foreclosure ar sal� under�he lien. In any�ont�st, Trustor sha[I defend itse�f and Lend�r and shall satisfy
<br /> any ad�e�se judgment hefor�enfvrcement agains�t th� Property. Trustor shall name Lender as an additional obfigee
<br /> under any surety bond furnish�d in the contest proc�edings.
<br /> E►ridence o�Payment. Trustor shall upon demand fu�n�sh ta Lender satisfac�ory e�idence of payment of the taxes
<br /> or assessments and shall autharize th� appropriate goWernmenta[ offi�ial to d�li�er to Lender at any time a written
<br /> statsment of the taxes and assessments against the Proper�y.
<br /> Notice of Construc��vn. Trus�or sha�� notify Lender at leasfi fift�en �15y days be#ore any work is commenced, any
<br /> ser�i�es are furnished, vr any materials are supp�ied to the Property, �f any mechanic's lien, ma�erialmen's lien, or
<br /> ❑ther lien could be asserted on accvun� o� the work, ser�ices, or materials. Trus'�ar wil� upvn request of Lender
<br /> fiurnish �o Lender ad�ance assurances satisfactory to Lender �hat Trustor can and will pay the cost of such
<br /> impro�emen�s.
<br /> PRC]PERTY DAMAGE 1N5URANCE. The fo�Iowing pr��isians relating to insuring the Property are a pa�t af�his Deed flf
<br /> T�ust.
<br /> Maintenan�e of [nsuran�e. Trustar shall procure and maintain policies af �ire insurance with s�andard extended
<br /> �o�erage endarsements an a r�plac�men� basis for the full insurat�le �alue co�ering alf lmpro�ements on the Real
<br /> Property in an amount suffici�nt to a�oid applicatian vf any �oinsuranc� ciause, and with a standard mvrtgagee
<br /> c[ause �n �a�or of Lender. Trustar shall also procure and ma�ntain cvmprehensi�e gen�ra[ liabili'�y insurance in such
<br /> co�erage amoun�s as Lender may request with Trustee and Lender be�ng named as additianal insu��ds in such
<br /> liability insurance pa�icies. Additivnally, T�ustor shall maintain such ❑ther insuran�e, including but nvt limited to
<br /> ha�ard, business interruption, and �oil�r �nsurance, as Lender may reasvnably require. Policies sha�l be written in
<br /> form, amoun�s, co�erages and basis reasonably acceptable �o Lender and issued �ay a company or companies
<br /> reasonably acc�ptable to Lender. Trustor, upan reques� of Lender, will deli�er �� Lender from time to time �he
<br /> policies or cert��ica�es o� insurance in form sa�isfactory to Lender, including stipu�ati�ns that co�erages wi�� not be
<br /> cance�led or diminished withou� at least thirty t3�} days privr wr�t�en nati�e tv Lender. Each insurance poficy alsv
<br /> sha�( include an endorsement pr��iding that co�erage in fa�or of Lender will not he impaired in any way hy any act,
<br /> om�ssion ar defiault �f Trus�or or any other person. 5hauld the Real Prop�rty be located in an area designated by
<br /> the Administrator of the Federal Emergency Managemen�t Agency as a specia� flood hazard area, Trust�r agrees to
<br /> obtain and main�ain Federal Fload lnsurance, i� a�ailable, �for �he full unpaid principal ha[ance of the Ivan and any
<br /> prior liens on the proper�y securing the Ioan, up to the maximum policy limi�s set under the Nafiional Flo�d
<br /> lnsurance Program, or as o�herwise required hy Lender, and to maintain such insurance for the�erm of the Ivan.
<br /> Application ❑�F Proceeds. Trustor shall pr�mpt�y notify L�nder vf any loss vr damage to the Prvperty. Lender may
<br /> make proo� af loss if Trustor �ails to dv sa within fifte�n �15� days of the casualty. Whether ar not Lender's
<br /> securi�y is impaired, Lender may, at Lender's e�ection, recei�e and retain the pro�eeds o�any insurance and apply
<br /> the proceeds t❑ �he redu�ti�n a� the �ndeht�dness, payment o# any lien a��ecting �he Property, or th� restora�ion
<br /> and repa�r of�he Proper�y. I� Lender elects to apply the proceeds �o restvra�ion and repair, Trustar shall repair o�
<br /> replace the damaged or d�stroyed Impro�em�nts in a manner satisfactory to �ender. Lend�r shall, upon
<br /> satisfactory proo� �f such expenditur�, pay ar reiml�urse Trustor from the pro���ds far the r�asonabl� cost af
<br /> repair or restoration if Trustor is nat in defaul� under this Deed o� Trus�. Any proc�eds which ha�e not been
<br /> disbursed within 18� days after thsir r�c�ipt and �rvhi�h Lender has not committed ta �he r�pair or restoration of
<br /> the Proper�y shall be used firs�to pay any am�unt owing to Lender under this Deed af Trust, '�hen to pay a�crued
<br /> �nt�rest, and the remainder, if any, shall be app[ied to the principal balance �f the Indebtedness. If Lender holds
<br /> any proceeds a�ter payment in full ❑� the Indebtedness, such proceeds shai[ be paid to Trustor as Trustvr's
<br /> in�er�sts may appear.
<br /> Trustvr's Repvrt an Insuranc�. Upon request of Lender, howe�er not more than on�e a year, Trustor shall furnish
<br /> to Lender a report on each existing poi�cy of insurance showing: �1} the nam� of th� insurer; �2� the risks
<br /> insured; �3� the amaunt a� the policy; �4} �he praperty insur�d, the then current replacement �alue of such
<br /> property, and the manner a�determining that�alue; and t5} �he expiration date of the policy, Trustor sha[�, upon
<br /> requ�st vf Lender, ha�e an independent appraiser satis�actory to Lend��de�ermine the cash�a�ue replacement cost
<br /> of the Property.
<br /> TAX AND INSURANCE RESERVES. Subject to any fimitat�ons and consistent wi�h any requirements set by applicable
<br /> law, Lender may require Trustor t❑ mainta�n with Lend�� reser�es ��r paymen� of annual taxes, assessments, and
<br /> insurance pr�miums, which reser�es shall he �rea�ed by an initial dep�s�t and subsequent month�y payments, or
<br /> payments at such ather interval as payments under the Not� may be due, v�a sum estimated by Lender to be suffici�nt
<br /> fi❑ pay �he tatal annua� taxes, assessments, and insuran�e premiums Lender reasonably anti�ipa�es to be paid from
<br /> these reser��s. The reser�e �unds shall be he[d by Lender as a general depasit fram Trusto�, which Lendsr may satisfy
<br /> by payment of the taxes, assessments, and insurance premiums re�uired to b� paid by Trustor as they becvme due.
<br /> L�nder shall ha�e the right to draw upan the reser�e funds t� pay such i�ems, and Lender shall not be required �o
<br /> de�ermine �he �a�idity ❑r accuracy af any item befar� paying it, Nothing in the Deed of Trust shall b� construed as
<br /> requiring Lender t� ad�ancs oth�r m�nies �or such purposes, and Lend�r shall nat �ncur any liabi�ity for anything it may
<br /> d❑ or amit to do with respect to �h� reser�e a�cvunt. Subjec� to any limitati�ns set hy appli�ah�e law, if the reser�e
<br /> funds d�sclose a shar�age or defi�iency, Trus�or sha�I pay such shortage or de��ciency as required by Lender. All
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