|
2� 1 ��3133
<br /> �3E�❑ �F TRLJST
<br /> Loan No: 'i�'i 2939�9 ���ntinu�d} Page 3
<br /> whether by outright 58IBr deed, insta!lm�n� sa�e can�ra�t, land cvntra�t, Gon�ra�t fvr de�d, le�seho�d in�eres�t with a
<br /> term great�r than three �3} yea�-s, lease-v�tion cvntract, or by sale, assignmen�, vr trans�er of any beneficial interest in
<br /> or tv any land xrust hviding ti�le to the Real Pra��rty� vr by any ather me�hod a� �vn�eyan�e ❑� an in�ere�� in the Real
<br /> Prop�rty. Hawe�er, �his op�ivn shaf[ not be exerc�sed by Lender if suGh e��rcise is �arohib�ted by federal lavir ❑r by
<br /> Nebraska law.
<br /> TAXES AND LIENS. The �vllvwing proWisions relattng �o �he ta�€es and liens on the Praperty are par�t ❑f �his Deed o�
<br /> Trust:
<br /> �aymen�. Trustor sha[I pay when due �and in ali e�ents pri�r#v delinquencyy all taxes, special�axes� assessmen�s,
<br /> �harges �including water and sewer�, ��nes and imposi�ions le�Eed against�r on account o�the Property, and shali
<br /> pay when due all claims �Q� work done on or�vr ser��c�s rendered or material furnished �❑ �he Property. Trustnr
<br /> �hall maintain the Property�ree v�al[ �i�n� ha�ing �rivrity❑Wer�r equal �Q�he interes�v�Lend�r under�his ❑�ed o�
<br /> Trus#, ex�ept for �he fien Qt �axes and �ssessm�n'ts not due, e�ce�� fior �he Exis�ing Indebtedness re�erred �o
<br /> below, and ex��pt as atherwise pro�ided in�his Qeed of Trust.
<br /> Righ�to Con#est. Trus�or may withhald payment❑#any�ax, assessmentr ar �faim in connect�on wi�h a gvod fiafth
<br /> dispu�e o�er the ol�f igativn t� pay, so Ir�ng as Lender's in�erest in�he Praperty is nvt je�pardized. �f a iien ar�ses or
<br /> is �iled as a resul� o� nvnpa�men�, Trustvr shall wi�hin #ifte�n �'�5} days af�er th� �ien ari��s or, if � iien is �iied,
<br /> wi�hin �ifteen {15� days after Trus�or has notice o��the �i�ing, secure the discharge o�the lien, ar i� r�ques�ed by
<br /> Lender, depos��wEth Lender cash❑r a su�icient cQrpora�e sure�}�bon�i or❑�her security satis�actvey to Lend�r in an
<br /> amount su�i�ient�v d�s�harge�he lien pius any cvsts and attorneys' �ees, ar vther charges�hat cvuld accrue as a
<br /> result af a foreclosure or�ale under�he lien. In any Con�eS#,Trustv�shali de�end i#s�I�F and Lender and shai�sa�isfy
<br /> any ad�erse judgment be�vre enfvrcemen� agains��he ProperCy. Trustvr shall name Lender�s an addit�onal�bligee
<br /> und�r any surety bvnd�urnished in the cv��es�pro�eedings.
<br /> Eviden�e af Payment. Trus�or sha[� upan demand furnish �o Lender sa�is�ac�ary eWFd�nce ❑�paym�nt v�the taxes
<br /> or assessments and shal! authv�i�e the apprvpriate �aWernmen�al �fficia! �o delive�-ta Lender at any�ime a written
<br /> st��ement a�F the�a�ces and asse��men�s agains��he proper�y.
<br /> Nvti�e Q� Construc�ion. Trusto�- shall no�i�y Lender a� �ea��t fsf�een t�5} days be�are any wvrk is commenced, any
<br /> se��ices are furnished, ❑r an� mat�rials are supplied i�o the Prapert�. if any mechanic's 13en, mate��a�men's lien� or
<br /> vther lien could be asserted on a�c�unt o�the wark, ser�ices, ❑r mat�rials. Trustor will upon request o# Lender
<br /> turn�sh to Len�lsr �d�ance assuranG�s sa����act�r}� to Lender tha� Trusto�r Gan and wi!! pay the cvst a� su�h
<br /> impro��ments.
<br /> PR�PERTY DAlIflAGE iNSURA[�CE. The fv!lowing pro�isivns rela�ing tv �nsuring �he Praper�y are a part❑�this [7eed af
<br /> T�us�.
<br /> Marn�enance o� Insurance. Trustqr shail prncu�-e a�d main�ain pa[iCies of �ire insu�rance wi�h s�and�rd ext�nded
<br /> cav�rage endfl�sements on a �air �alu� basis far �he �ulf insurable �alue ���ering all ImproWemen�� on th� Real
<br /> Property in an amount su���icien� to a�oid appliGa�Cian ❑� any cainsurance clause, and wi�h a s�andard martgagee
<br /> clause in �a�or vf L�nder, �ogether wi�h such ❑ther hazard and�iabi�ity insurance as Lender may reasonaE�Ey require.
<br /> Policies shall k�e wri��en ir� f�rm, amaunts, c���rages and hasis reasonably acceptabfe �v Lender and issued by a
<br /> company o� camp�nies re�sonably �ccep�able t� Lender. T�ustvr, upon r�ques� of Lender, will deli�er t� �.ender
<br /> �rom �im� to �ime the pvlicies �r c���ifica�es o�in�urance in �arm s�tis�actary tv Lender, including s�ipulatit�ns that
<br /> c��erages will n�t be cance�led ar diminished wi�hout at least�en �10y days priflr wri�ten nvtice to Lender. Each
<br /> insurance pvlicy als❑ sha�l in�lude an endorsement prQviding #haf coverage in fa�o� of Lender w�ll nat be impaired
<br /> in any wa� by any a�t, ❑missian ❑r defau�t o�Trustv�-or any ather person. Shauld the Real Prap�rfiy be Ivcated in
<br /> an area designa�ed by th� Administ�attir v��he Federal Emergen�y Managem�nt Agency as a spe�ial ��ovd ha2ard
<br /> area� Trustar agrees tv vbtain and main�ain Federal F�vad lnsu��n�e, if ��ailabfe, �or the fuil unpaid pr�ncipa�
<br /> bafance o�the Ivan and any prior�iens an the p�aper�y securing�he �oan. up to the maximum policy limits se�under
<br /> the NationaE Fivod lnsur�nce Program, or as o�herwise required by Lend�r, and to maintain suGh insurance ��r fihe
<br /> t�rm a�the faan.
<br /> App�icati�r� vf Prc�ceeds. Trustor shall p�-amp�ly na�ify Lender o�any loss Qr damag� to the Proper�y. Lender may
<br /> make pravf flf loss i� Trustar fails �Q do sv within �i�teen �'l5y days at �he casu�lty. 1Nhe�her ❑r nnt Lender's
<br /> �ecurity is impaired, Lender may, a� Lender's elec�ion, recei�e and re�ain the prviceeds vfi any insurance and apply
<br /> the prvice�ds to the reduc�ivn o�the Ind�btedness, paymen� af any lien af�ec�ing the Property. or the restora�ion
<br /> and r�pait� p�f the Praper�y. Ff Lender elec�s to app�y ti�e proceeds �Q restora�ion and repair, Trustor ��alf repair ar
<br /> r�pla�e �he dam�ged vr destro}�ed �mpr�v�emen�s in a manner sa#is�actafy �❑ Lender. Lender shall, upan
<br /> satis�a�tory proQ� afi such expendi�ure, pay vr reimburse Trustor �ram the proceeds for the reasonabie �os� �t
<br /> repair ❑r �estora�ion i� Trusfior is no� in default under this �eed o� Trust. Any proceeds which ha�e not been
<br /> disbursed within �8Q days a��er �h�ir re�eipt and which Lender has nv� Gvmmitted ta the repair �r restoration a�f
<br /> the Prv�er�� shall be used �irst to pay any amoun# vwin� �v Lender under th�s L�eed a�Trus�, �hen to pay a�crued
<br /> interest, �nd the rema�nder. if any. shall be applied tv �he princi�al balanc� a�the �ndeb�edness. If Lender holds
<br /> any prac�eds aft�r payment in �ull flf the Indebtedness. such �rvice�ds shafl be paid �o Trustar as Trustor's
<br /> interests may appear.
<br /> Comp�ian�e with Existing lndebtedness. During th� peri�d En which any Ex�s�ing [ndebtedness described belvw is
<br /> in e�tec�, corr�p�i�nce vuirh the insurance prQ�isions �ontained in the instrument e�idencing such Exis�ing
<br />
|