|
2� 1 ���379
<br /> DEED �F TRUST
<br /> Loan �Va: 35a�39�79 �Cont�nued] Page 2
<br /> Pa5SES5[ON ANa MA�NTENANCE OF THE PROPERTY. Trustor agrees that Trustar's passession and use of the
<br /> Prvperty shalf be go�erned by the fallvwing pro�isions:
<br /> Possessian and use. Un�il the accurrence of an E�en� af Defau(t, Trustor may {1} r�main in pvssessivn and
<br /> can�rol af the Proper-ty; �2} use, aperate or mana�e the Property;and �3} co[le�the Rents fram the Property.
<br /> Du#y #o Main�ain. Trustor shal[ maintain �he Prvperty in tenantab[e condition and prampt[y perfarm a!I r�pairs,
<br /> replacements,and maintenance necessary to preserve its�a[ue.
<br /> Compliance With Environmenta[ La�s. Trustor repr�sen#s and warrants to Lend�r that: ��} During the period of
<br /> Trustor's ownership vf the Proper�ty,�here has been na use,generation, manufacture,stvrage,trea#ment,disposal,
<br /> refease or�hreatened re[eas�of any Hazardous Suhstance by any person an, under, abvut vr�rom the Property;
<br /> �2} Trustor has nv knowledge vf, or reason t�be[ie�e that there has been, except as pre�iously disclosed to and
<br /> acknowledg�d by Lender in writing, 4a} any breach ❑r �ialation a� any Enviranmental Laws, �b} any use,
<br /> generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance
<br /> on, under, about vr#r�m the Prop�rty by any prior vwners or o�cupants of the Properiy, or tc} any actua[ or
<br /> thr�atened Iitigation or claims af any kind by any person relating to such matters; and �3} Except as pre�i�usly
<br /> disclosed to and acknowledged by Lender in writing, �a} neither Trustar nor any tenant,contractor,a�ent ar other
<br /> authorized user o�F the Prvper�y shaC( use, generate, manufacture, stvr�,treat, dispose o�or r�lease any Hazardous
<br /> Suhstance an, under, abaut or�ram the Property;and �b} any such acti�ity shal!be conduc�ed in campliance with
<br /> aCf app[icab[e federa[, state, and Iocal [aws, regulati�ns and ordinances, including with�ut [imi�atian all
<br /> En�irflnmenta[ Laws. Trustar authorizes Lender and its agents �o enter upan the Prvperty �o make such
<br /> inspectians and tests, at Trustar's expense, as Lender may deem apprvpriat� to determine comp[iance vf the
<br /> Property with this section vf the Deed of Trust. Any inspec�'rans or tests made by Lender shall b�fvr Lender's
<br /> purposes vnly and shall nat be construed to create any responsibi[i#y or fia�ility an ths part of Lender ta Trustar or
<br /> ta any v�her persvn. The representat�nns and warranties con#ained herein are based an Trustor's due diligence in
<br /> in�estir�a�ing the Prnperty far Hazardous 5ubstances. Trustor hereby ��} releases an� wai�es any future claims
<br /> against Lender for indemnity or cantribution in the e�ent Trustor becames liable far cleanup or ather cos�s under
<br /> any such [aws; and �2} agrees to indemniiy, defend, and hold harmless Lender agains�any an�all c[aims, losses,
<br /> [iabiliti�s, damages,penaCties, and expenses which Lender may directly or indirectly sustain or suffer resulting frflm
<br /> a breach of this sectian of the De�d of Trust or as a cansequence of any use, generatian, manufacture, starage,
<br /> d15p�5�1, reiease ar threatened release occurring prior ta Trustor's awnership vr interest in�he Property,r►vhe�h�r or
<br /> not the same was or shauld ha�e heen known �o Trustc�r. The pro�isions af�his sectian of th� Deed of Trust,
<br /> includin�th�obligation to indemnify and defend,sha11 survi�e the payment af the Inde�t�dness and the satisfaction
<br /> and recvn�eyance af the[ien of this Deed nf Trust and shall not be affected by Lender's acquisitian vf any interes�
<br /> in fihe Property,wheth�r by fareclvsure or vther�wise.
<br /> NuisanGe, Was�e. Trustor shal[ not cause, canduct or permi� any nuisance nor commit, permit, or suffer any
<br /> stripping of or waste on or ta the Property or any part��n o�the Praperty. Withou� limiting the generality a�the
<br /> foregaing,Trustor wi[1 not remo�e, or grant to any vther party the right to remo�e, any�imber, minera[s�inc[uding
<br /> �il and gas},caal,clay,scoria,soi[,gra�el vr rock produc�s v+rithaut Lender's privr written consent.
<br /> Remo�a!o�lmpro�emen�s. Trus�or shall nvt demolish vr r�m��e any Imp�a�ements fram the Real Praper�y withvut
<br /> Lender's priar wri�ten�ansent. As a conditivn t�the remo�al vf any Impro�ements, Lender may require Trustor to
<br /> make arrangements sa�tisfactory ta Lender to replace such lmprv�ements with Impra�emen#s of at [east equal
<br /> �al ue.
<br /> Lender's Righf to Enter. Lender and Lender's agents and representati�es may enter upon th� Rea� Property at all
<br /> reasonab[e times ta attend to �ender's interests and to inspect th� Real Property fvr purpases af Trust�r's
<br /> comp(iance wi�h the��rms and conditions of this De�d af Trust.
<br /> Cv�npCiance wi#h Go►rernmental Requirements. Trustor shall pramptly comply with al[ laws, ardinances, and
<br /> regu[ations, now ar herea�ter in effect, af all go�ernmental authorities app[icable tv the us� or accupan�y of the
<br /> Property, including without limita�ion,the Americans With Disabilities Act. Trustor may cont�st in good faith any
<br /> such law, vrdinance, or regu[ation and wi�hho[d compliance during any proceeding, including apprvpriate appeaks,
<br /> sa[ong as Trustor has no�ified Lender in writing priar tv doing so and sv long as, in Lender's sole opini�n, Lender's
<br /> inter�sts in the Prvperty are not jeopardized. Lender may require Trustor ta post adequate security or a sure�y
<br /> bond, reasvnably satisfactary ta Lender,to pra�ect Lender's interest.
<br /> Du#y to Protec�. Trus#ar agre�s neither to abandan or lea�e unattended the Property. Trustor shall do all other �
<br /> acts, in addr�ion ta thase acts s�t forth abv��in this ssction,►►vhich frvm the charac�er and use af the Property are
<br /> reasanahly necessary to pra�ect and preser►�e the Prvperty.
<br /> Cuns�ruc�tion Loan. I�some or ai[of the proceeds af the laan creating the Indebtedness are to b�used to construct
<br /> or compCete construct�vn of any Imprav�ments on th� Property,the Impra�ements shall be campleted no later than
<br /> the maturity date of the Note�or such earlier date as Lender may reasflnah[y es�ablish} and Trustor shafl pay[n fu[l
<br /> a[[ casts and expenses in connection wi�h the work. Lender will dishurse [oan praceeds under such t�rms and
<br /> conditians as Len�er may deem reasonably necessary#o insure#hat the interest created by this Deed of Trust shal!
<br /> ha�e priari�ty a��r a!i passibie iiens, including those af ma#erial suppliers and warkmen. Lender may require, amvng
<br /> ather things, that disbursement requests be supported by r�ceipted bil[s, expense aifiida�its, waivers of liens,
<br /> construction progress repo�ts,and such other documentation as Lender may reasona,hiy request.
<br /> �]UE aN SALE w CflNSENT BY LENDER. Lender may, at Lender's option,declare immediately due and payable aIl sums
<br /> secured by�his Deed of Trust upan the sale or transfer, with�ut Lender's prior written consent, vf al[vr any part�f the
<br /> Rea� Praperty, or any interest in the Real Property. A"sale vr transfer" means the con�eyance af Real Prvperty�r any
<br /> right, title or interest in the Real Property; whe�her lega[, benefi�ia[ or �quitable; whe#her �o[un#ary ❑r in�oluntary;
<br /> whether by outrigh� sale, deed, insta[Iment sal� contract, iand cantract, contract for deed, leasehold interest with a
<br /> term greater than three�3}years, I�ase-optivn contract, or by sa1e, assignment, or transfer of any beneficia[ interest in
<br /> ar tv any[and trust halding title ta the Real Property, or by any vther method of can�eyance of an interest in the Real
<br /> Property. 1€any Trustor is a corpora�ion, partnershfp or limited IiabiIity company, trans�er also includes any change in
<br /> ownership of mc�re than twenty-fi�e percent�25°/0}of the�vting s��ck, partnership interes�s or limited[iabiCi�ty company
<br /> int�rests, as the case may be, of such Trustar. Hawe�er,this vption shalf not be exercised by Lender i�F such exercise
<br /> is prahibited by federa.I[aw ar by Nebraska law.
<br /> TA�ES AND L[ENS. The fvl[owing pro�isions rela�ing ta the taxes and liens on the Praperty are part of this Deed af
<br /> Trust:
<br /> Payment. Trustor shali pay when due{and in a[1 e�ents prior to delinquency}aii taxes,specia!taxes,assessments,
<br /> char�es �including wa�er and s�wer}, fines and impositions I��ied against or on accaunt of the Property, and sha[[
<br /> pay wh�n due a[1 claims for work dvne on ar for senric�s rendered or material furnished ta the Properry. Trustor
<br /> sha[I maintain the Pr�perty�ree vf all Iiens ha�ing privrity v�er or equal ta th�in�erest of Lender under this Deed o�
<br /> Trust, except for the [ien of�axes and assessmen�s not due and except as otherwise pro�ided in this Deed of
<br /> Trust.
<br /> Ri�ht to Can#est. Trustor may�ithhald payment of any tax, assessment, or claim in connecti�n with a gvod faith
<br /> dispute aver the vb[igation to pay, so fong as Lend�r's interest in the Pr�perty is r�ot jeopardized. I�r a Cien arises ar
<br /> is fled as a resul#vf nanpayment, Trustar shall wi�thin fi�te�n �15} days after the Iien arises or, i�a lien is filed,
<br />
|