|
2� 17��321
<br /> DEED �F TRUST
<br /> Loan N�: 'i�'13�'!�$2 ��ont�nu�d} Page 3
<br /> Rea[ Property, or any interes� in�h� Real Prvperty. A "sale or transfer" means the conveyance of Real Proper�y ar any
<br /> right, title or in#erest in the Real Prvper�y; wh�ther legaf, beneficia� or equitahle; wh�ther �aluntary ar involuntary;
<br /> whe�her by outright sale, deed, insta!lmenfi sale cflntract, land contract, contract for deed, leasehvfd infierest wi�h a
<br /> te�m greater�han �hree �3} years. lease-option �vntracfi, ar by sale. assignment, or�ransfier vf any beneficia[ in�erest in
<br /> or ta any land �rust hvlding tit�e to the Reai Property, �r by any other method ofi con�eyance ❑f an interest in the Real
<br /> Praperty. Hawe�er, this aptian shaf� not be exerc�sed by Lender if such exercEs� is prahibi�ed by federal law or by
<br /> Nebraska law.
<br /> TAXES AND LlENS. The fa��owing pro�isions �-elating to the taxes and fiens on the Praperty are par� af this Deed ❑f
<br /> Trus�:
<br /> Payment. Trustor shall �ay when due �and in alf e�ents prior to definquency� all taxes� special�axes, assessments,
<br /> charges �incfuding water and sewer�, fines and impositivns levied against or on a�count of the P�-vperty, and shal!
<br /> pay when due al� cla�ms fvr work done on vr for ser�ices rendered ❑r ma�eriaf �urnished to the P�-aperty. Trustor
<br /> sha[I main�ain�he Property free of all [iens ha�ing priorifiy over o�equal to the in�erest of Lender under this Deed af
<br /> Trust� except far �he lien o� taxes and assessments na� due and except as othe�wise pro�ided in thEs Deed o�
<br /> Trust.
<br /> Right fio Contes�, Trustar may withhald paymen#of any#ax, assessment, ❑r claim in cvnnection with a good fai�h
<br /> , dispu�e nver�he obligatian tn pay, sv [ong as Lender's interest in the Prvperty is not jeopardized. ff a lien arises or-
<br /> is fi�ed as a resu[�t ❑# n�npayment, Trustor shall within fifteen �15� days after �he lien arises ❑r, if a lien is fifed.
<br /> within fifteen {�5} days after Trustor has nvtice ❑f the filing, secure the discharge af the [ien, ar if requested by
<br /> L�ndsr, deposit wi�h Lender cash❑r a su��icient corpvrate surety bond or other securEfiy satisfactory t❑ Lender in an
<br /> amount sufficienfi fi❑ discharge the lien plus any costs and attarneys` fees, vr other charges �hat could accrue as a
<br /> resuft of a�foreclosure or sale under the lien. !n any c�ntest,Trustor sha�l defend itself and Lender and shall satis�y
<br /> any ad�erse judgment befvre enfarcement against the Praperty. Trus�or shall name Lender as an addi�ivnal vbligee
<br /> under any su�-ety bond�urnished in the contest pro�eedings.
<br /> Evidence of Payment. Trustor shall upvn demand furnish t❑ Lender satisfactory e�iden�e o� payment o�the taxes
<br /> or assessments and sha[! authorize the appropriate governmental v��icial t❑ deli�er�o Lender at any time a wri�t�n
<br /> statement vfi�he taxes and assessments against the Prvperty.
<br /> Notice vf Constructian. Trusfiar shall notity Lender at [east fifteen t15} days before any wark is comm�nced, any
<br /> ser�ices are furnish�d, �r any materials �re supplied tv the Property, if any mechani�'s fien, mat�rEaimen's lien, ❑r
<br /> ❑ther �ien �ou[d be asser�ed on accaunt of �he wark, ser�ices, ar materials. Trustor wif[ upon reques� af Lender
<br /> �urnish to Lender ad�ance assurances satisfactory to Lender that Trustor can and wil[ pay the cvst of such
<br /> impro�ements.
<br /> PR�PERTY DAMAGE INSURANCE. The falfowing pro�Es�nns refating t❑ insuring the Property ar� a part vf this Deed of
<br /> Trust.
<br /> Ntaintenance o� Insurance. Trustvr shall pracure and mainfiain policies afi �ire Ensuran�e wi�h standard extended
<br /> cv�erage endorsements an a �air �alue basis �or the full insurab[e �alue co�ering all Impro�ements on the Rea[
<br /> Property in an amoun� su��icient ta a�oid applica�ion vf any cvinsurance c[ause, and with a standard martgagee
<br /> clause in fa�or ofi Lender. Trustor shall also procure and maintain �omprehensi�e general liabi(ity insurance in su�h
<br /> ca�erage amounts as Lender may request with Trus�ee and Lender being named as additiona� insureds in SUCh
<br /> liability insurance policies. Additianally� Trustor shall maintain such other insuran�e, in�luding hut nv# [imited to
<br /> hazard, business interrup�ion, and boiler insurance. as Lender may reasonab�y require. Policies shall be writ�en in
<br /> form, amoun�s, cv�erages and basis reasonably acceptable fi� Lender and issued by a campany ❑r compan�es
<br /> reasvnably acceptab[e to Lender. Trustor, upon reques� o# Lender, will deli�er to Lender fram time to t�me the
<br /> po[icies or certificates of insurance in fo�rm sat�s�Facfiory t❑ Lender, including stipulations that coverages will not be
<br /> cancefled or diminished without at least ten {��} days prior wr�tfien natice to Lender. Each €nsurance policy alsv
<br /> shaf[ include an endarsement pro�iding thafi cv�erage in ta�ror o-F Lender wilf not be impaired in any way by any act,
<br /> omission or defaul� vf Trus�or or any other person. ShauEd �he Rea[ Prvpe��y be [ocated in an area designafied by
<br /> �he Administrator af th� Federa[ Emergency Management Agency as a special �Iovd haza�-d a�-ea, Trustor agrees to
<br /> ohtain and maintain Federal Flvad �nsurance, if a�ai[ab�e, for the full unpaid principal balance vf �he loan and any
<br /> pria�- [iens on the prope�ty securing the foan, up tv fihe maximum po�icy limits set under the Nativnal Flood
<br /> lnsuran�e Program, vr as otherwise required by Lender, and to ma3nfiain such insurance fivr the term a#the Ivan.
<br /> App[i�ation of Proceeds. Trustor shall prvmptiy n�tify Lende�of any loss or damage t❑the Praperty. Lender may
<br /> make proof �� �a55 ifi Trust�r fails to da so wi�hin fifteen ��5� days vt the casua�ty. Wh�ther or no# Lender's
<br /> se�urity is impaired, L�nder may, a� Lender's e[ectivn, recei�e and re�ain the proceeds of any insurance and apply
<br /> the proceeds tv the redu�tian ❑# the Indeb�edness, payment ot any iien affec�ing the Praper�y, or the res�ora�ion
<br /> and repair ❑�the Prvperty. if Lender elecfis to apply the proceeds ta res�oration and repair, Trustor sha[E repair ar
<br /> rep�ace �he damaged �r destroyed lmp�-a�emen#s in a manner satisfacfiory t❑ Lender. Lender shall, upon
<br /> satEsfactory proof ❑f such expenditure, pay ar reimburse Trus�or fram the proceeds for the reasonabie cast of
<br /> repair ❑r res�ora�ion if Trust�r is nv� in defau[t und�r this Deed of Trust. Any praceeds which ha�e nvt been
<br /> disbursed wi�hin �8� days after their receipt and which L�nder has not commi�ted to the repair or restoratian of
<br /> the Praperty shall be used first t❑ pay any am�unt owing t❑ Lender under this Deed of Trust, then �a pay a�crued
<br /> in�erest, and �he remainder, if any, sha[[ be applied tv the principa! balance vf the Indebtedness. 1� Lender ho[ds
<br /> any proceeds after payment in full of th� fndeb�edness, su�h proceeds sha[I be paid �o Trustvr as Trustor's
<br />
|