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06- 30.2000
<br />Loan No 25569
<br />DEED OF TRUST Page 3
<br />(Continued)
<br />or involuntary; whether by outright safe, deed, installment sale contract, land contract, contract for deed, leasehold interest with a term greater than
<br />three (3) years, Wass-option contract, or by sale, assignment, or transfer of any beneficial Interest In or to any land trust holding title to the Real
<br />Property, or by any other method of conveyance of Real Property interest. If any Trustor Is a corporation, partnership or limited liability company,
<br />transfer also includes any change in ownership' of more than twenty- five,percent (2S%) of the voting stock, partnership interests or limited liability
<br />company interests, as the can may be, of Trustor. However, this option shag not be exercised by Lender if such exercise IS prohibited by federal
<br />law :or.by Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and Yens on the Property are a part of this Dead 91'Trust. '
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water
<br />and sewer), fines and Impositions levied against or on account of the Property, and shall pay when due all claims for work dorm on or for
<br />services rendered or material furnished to the Properly. Trustor shall maintain the Property free of all Nana having priority over or equal to the
<br />interest of Lender under this Deed of Trust, except for the Ilan of taxes and assessments not due and except as otherwise provided in this Deed
<br />Of Trust.
<br />Right To Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation
<br />to pay, so long as Lender's interest in the Property Is not jeopardized. If alien arises or Is filed as a result of nonpayment, Trustor shall within
<br />fifteen (15) days after the Ilan arises or, If a Non is filed, within fifteen (18) days after Trustor has notice of the Ming, secure the discharge of the
<br />lion, or If requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or otiar securrtty satisfactory to Lender in an
<br />amount sufficient to discharge the Nan plus army coats or other charges that could aoo us as a result of a fenclosure or sale under the Non. In
<br />any contest, Trustor shah defend itself and Lender and shah satisfy any adverse judgment before enlompment against the Property. Trustor
<br />shall name Lender as an additional obligee under any surety bond furnished In the contest proceedings.
<br />00 she
<br />authorize the appropriate governmental official to deliver to Lender at any time a written statement of the tam and assessments against the
<br />Property.
<br />Notlw of Construction. Truster shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or any
<br />materials are supplied to the Property, 0 any mechanic's Non, materialmen's Nan, or other lien could be asserted on account of the work,
<br />services, or materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Trustor can and will
<br />pay the cost of such Improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to Insuring the Property are a part of this Deed of Trust.
<br />Maintenanw of Insurance. Trustor shall procure and maintain policies of fire Insurance with standard extended coverage endorsements on a
<br />replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any
<br />coinsurance clause, and with a standard mortgagee clause In favor of Lender, together with such other hazard and liability Insurance as Lender
<br />may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a
<br />company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies
<br />or certificates of Insurance In form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at
<br />least ten (10) days' prior written notice to Lender. Each Insurance policy also stag Include an endorsement providing that coverage in favor of
<br />Lender will not be impaired In any way by any act, omission or default of Trustor or any other person. Should the Real Property at any time
<br />become located In an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Trustor
<br />agrees to obtain and maintain Federal Flood Insurance for the full unpaid principal balance of the loan, up to the maximum policy limits set
<br />under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such Insurance for the term of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if Trustor
<br />falls to do so within Steen (15) days of the casualty. Whether or not Lender's security Is impaired, Lender may, at Its election, receive and retain
<br />the proceeds of any Insurance and apply the proceeds to the reduction of the Indebtedness, payment of any Non affecting the Property, or the
<br />restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shall repair or replace the
<br />damaged or destroyed Improvements in a manner satisfactory to Lender. LLeennddeerr shag, upon satisfactoy proof of such expenditure, pay or
<br />reimburse Trustor from the proceeds for the reasonable cost of repair or restoration 9 Trustor Is not in default under this Deed of Trust. Any
<br />proceeds which have not been disbursed within 180 days after their receipt and which Lender has not committed to the; repair or restoration of
<br />.� F sir i3e [red fss# to pay cf-Th
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<br />any, shag be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment In full of the Indebtedness, such
<br />proceeds shag be paid to Trustor as Trustoes interests may appear.
<br />UnenpM Instareace at Sale. Any unexpired insurance shall inure to the benefit of, and pass to, the purchaser of the Property covered by this
<br />Deed of Trust at any.Vustee's sale or other sale held under the provisions of this Deed of Trust, or at any foreclosure sale of such Property.
<br />EXPENDITURES BY LENDER. If Trustor fags to comply with any provision of this Deed of Trust, or if any action or proceeding is commenced that
<br />wound materially affect Lender's interests in the Property, Lender on Trustor's behalf may, but shag not be required to, take any action that Lender
<br />deems appropriate. Any amount that Lender expands In so doing will bear interest at the rate provided for in the Note from the date Incurred or paid
<br />by Lender to the date of repayment by Trustor. AN such expenses, at Lender's option, will (a) be payable on demand, (b) be added to the balance
<br />of the Note and be apportioned among and be payable with any Installment payments to become due during a thher (1) the term of any applicable
<br />insurance policy or (11) the remaining term of the Note, or (c) be treated as a balloon payment which will be due and payable at the Note's maturity.
<br />This Deed of Trust also will secure payment of these amounts. The rights provided for In this paragraph shall be in addition to any other rights or any
<br />remedies to which Lender may be entitled on account of the default. Any such action by Lender shag not be construed as curing the default so as to
<br />bar Lender from any remedy that it otherwise would have had.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust.
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable We of record to the Property In fee simple, free and clear of all lions and
<br />encumbrances other than those set forth in the Real Property description or In any title insurance policy, We report, or final titre opinion Issued in
<br />favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full right, power, and authority to execute and
<br />deliver this Dead of Trust to Lender.
<br />Defense of Title. Subject to the exception In the paragraph above, Trustor warrants and will forever defend the title to the Property against the
<br />lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the Interest of Trustee or
<br />Lander under this Deed of Trust, Trustor shah defend the action at Trustoes expense. Trustor may be the nominal party in such proceeding, but
<br />Lender shag be entitled to participate In the proceeding and to be represented in the proceeding by counsel of Lender's own ohoice, and
<br />Truster will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation.
<br />CmApllance With taws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable laws,
<br />ordinances, and "regulations of liovernrnenTal a-'fu horitfes: _ _ _ _
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust.
<br />Application of Net Proceeds. If all or any part of the Property Is condemned by eminent domain proceedings or by any proceeding or
<br />purchase in Neu of condemnation, Lender may at Its election require that all or any portion of the net proceeds of the award be applied to the
<br />Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable
<br />costs, expenses, and attorneys' tees Incurred by Trustee or Lender in connection with the condemnation.
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly take such
<br />steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party In such proceeding, but Lender shall
<br />be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Its own choice, and Trustor will deliver or
<br />cause to be delivered to Lender such Instruments as may be requested by it from time to time to permit such participation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,
<br />fees and charges are apart of. this Deed of Trust:
<br />Current Taxes, Fese.and Charges. Upon request by Lender, Trustor shall execute such documents In addition to this Deed of Trust and take
<br />whatever other action is requested by Lender to perfect and continue Lender's Hen on the Real Property. Trustor shag reimburse Lender for all
<br />taxes, as described below, together with all expenses Incurred In, recording, perfecting or continuing this Dead of Trust, Including without
<br />limitation all taxes; fees, documentary stamps, and other charges for recording or registering this Deed of Trust.'
<br />Taxes. The following shall consiltute taxes to which this section applies: (a) a specific tax upon this We of Deed of Trust or upon all or any
<br />put of the Indebtedness secured by this Deed cf Trust; (b) a specific tax on Trustor winch Trustor Is authorized or required to deduct from
<br />payments !,01 re Indsb%dr**4A�our*d bythis Woof Deed of Trust; (c) a fax on'tils type tit Dead of Trulol,o�fargsable against the tender or
<br />the fancier oft W No* and td) a specific tax on-all or any portion of the In 0� on peympnlf of prtn and knloset made by
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