|
2� 17� 19�8
<br /> DEED �F TRUST
<br /> Loan No: 'i�7 3�3482 {�ontinued} Page 3
<br /> right, title vr interest in the R�al Proper�y; whether iegal, beneficial ❑r equi�able; whe�her �olun�ary vr En�oluntary;
<br /> whether by outright sale, deed, insta[[men� sale contract, land contract, c�ntract for deed, leasehold interest with a
<br /> �erm greater than three �3� years, lease-op�ivn contrac�, or by sale, assignmen�, or transfer v� any bene�icial interest in
<br /> vr t❑ any iand trust hvld�ng title �o �he Real Property, or by any other method of cvn�eyan�e o�an interest in �he Rea�
<br /> Proper�y. How��er, this aption shall not be exercised by Lender i� such exercise is prohibited by federal law ❑r �y
<br /> Nebraska faw.
<br /> TAXES AND LIENS. The �allowing provisions relating ta the �axes and liens on the Praper�y are par� vf this Deed vf
<br /> Trust:
<br /> Paymen�. Trusfor shal� pay when due �and in all e�ents prior�o de�inquency� a!I�axes, special taxes. assessments,
<br /> charges {inc[uding water and sewer�, fines and imposi�ivns le�ied against ar vn a��vunt v�fihe Praperty� and sha[[
<br /> pay when due all claims for work done ❑n or for ser��ces rendered or maferial furnished to the Property. Trustor
<br /> sha�� maintain fihe Property free of af[ iiens haWing priarity vver or equa� �o the interesfi❑�F Lender under this ❑eed of
<br /> Trust, except �For the lien v� �axes and assessmen�s no� due and excep� as otherwise pra�ided in this ❑eed vf
<br /> Trust.
<br /> Right�o Contes#. Trustor may withhvfd payment of any tax, ass�ssment, or claim in cvnn�ction w�th a good �aith
<br /> dispute o�er the ob[igation�o pay, so long as Lender's interesfi in the Property is nofi jevpardized. [�a lien arises❑r
<br /> is fifed as a resul� of nonpaymen�. Trustvr shall wi�hin fifteen ��5� days after the lien arises vr, if a lien is �iled,
<br /> wifihin fi�Fteen ��5} days a#ter Trustar has notice vf the �filing, secure the discharge o��he lien, ar ifi reques�ed by
<br /> Lender, deposi�wi�h Lender cash vr a sufficient corpvrafie surefiy bond❑r other security satisfactory'to Lend�r in an
<br /> amount sut#icient�o discharge the lien p[us any costs and attorneys' fees, ❑r athe�Gharges that�vuld accrue as a
<br /> resuifi v�a fioreclosure or sale under�he lien. ln any con�est,Trusfior shafl de-Fend itse��and Lender and shaii satisfy
<br /> any ad�erse judgment be�ore enforcemen�againsf the Property. Trustar sha[[ name Lender as an addi�ivnal obligee
<br /> under any surety bond furnished in the cantest prviceedings.
<br /> Evidence vf Payment. Trustvr shall upon demand furnish ta Lender satisfactary eWidence ❑f payment of fihe�axes
<br /> or assessments and shall authorize the appr�priate ga�ernmental afficial to deli�er�o Lender at any time a wri�ten
<br /> statement❑fi the taxes and assessments agains��he Property.
<br /> Notice of Construc�ion. Trustar shall noti�y Lender at least�ifteen ��5} days before any work is cvmmenced, any
<br /> ser�ices are furnished, vr any materials are supp[ied �o fhe Property, if any mechanic's lien� materia�men's lien, or
<br /> other li�n cauld be asserted vn accvunt vf the wark, serWices, ❑r materials. Trustor wilf upvn request vf Lender
<br /> �urnish �❑ Lender ad�ance assurances satisfactary ta Lender that Trustor can and will pay the cos� vf such
<br /> impro�ements.
<br /> PRDPERTY DAMAGE INSURANCE. Th� �ollawing praWisians relating ta insurEng the Praperty are a part af this Deed afi
<br /> Trus�.
<br /> Maintenance of lnsurance. Trustar shall procure and maintain palicies ❑f fire insurance with standard extended
<br /> ca�erage endorsemen�s on a fair value basis fo� �he full insurable �alue coWering a!I Imp�o�ements vn the Real
<br /> Property in an amoun� sufficienf to a�oid application ❑� any coinsurance c[ause. and wi�h a s�andard martgagee
<br /> clause in fa�or o�Lender,tvgefiher with su�h o�her hazard and liability insurance as Lender may reasonably require.
<br /> Pvlicies shall be written in farm, amounts, ca�erages and basis reasonably acceptable t❑ Lender and issued by a
<br /> company ar companies reasonab[y accep�able to Lender. Trustvr, upon request o-F Lender, wil[ deli�er �a Lender
<br /> �ram �ime to time the palicies vr certificates vf insurance in form satisfac�ory ta Lender, inc�uding s#ipulafiians that
<br /> coverages wilf n�� be cancelled vr diminished wifihvut at least fien ��D} days prior written notice t❑ Lender. Each
<br /> insurance paficy also sha[[ inciude an endorsement prv�iding that co�erage in faWor❑f Lender will not lae impaired
<br /> in any way by any act, ❑mission or default of Trustor ar any ather person. Should the Real Property be �acated in
<br /> an area designa�ed by�he Administrator o�fihe Federal Eme�gency Management Agency as a special fl�vd hazard
<br /> area, Trus�tvr agrees �o obtain and ma�ntain Federal Flaad insurance, it a�ailab[�, for the full unpaid principai
<br /> balanGe of the loan and any privr[iens on the praperty securing�he foan, up to the maximum policy limi�s set unde�-
<br /> fhe Na�iona[ Flnad Ensurance Prvgram, or as vtherwise required by Lender, and tv maintain such insurance far the
<br /> term vf�he [van.
<br /> Applica�ion o#Proceeds. Trus�tvr sha�E prompt[y na�ify Lender❑�any loss or damage to th� Prvperty. Lender may
<br /> make praaf of lvss if Trustor �ails �v do s❑ wi�hin �ifteen ��5y days ❑� the casualty. VIlhether ar not Lender's
<br /> s�curifiy is impaired, Lender may, at Lender's e�ec�ian. recei�e and retain the praceeds o�any insurance and apply
<br /> the proceeds t❑ the reduction of the �ndebtedness� payment o�F any lien affe�ting fihe Prvperty. or the resfivration
<br /> and repair ❑f�he Property. lf Lender �[ects to apply the proceeds ta restara�ivn and repair, Trustar sha�! repair�r
<br /> replace fihe damaged ❑r destroyed [mprv�ements in a manner satisfactory t❑ Lender. Lender sha11, upon
<br /> satisfactary proof o� such expenditurs, pay or reimburse Trustvr �rvm fihe pro�eeds fvr the reasvnable cosfi of
<br /> repair or res�oration i� Trusfior is nat in default und�r �his ❑eed af Trust. Any proceeds which ha�e not been
<br /> dEsbursed within �80 days after their rece�p� and which Lender has no� committed fio the repair ❑r restorat�vn o�
<br /> the Prvperfiy shall be used first ta pay any amaun�owing �o Lender under�his Deed of Trust, then to pay accrued
<br /> in�erest, and the remainder, if any. shall be applied to the principal bafance v�the Indebtedness. if Lender hoids
<br /> any pra�eeds after payment in �ull o� the IndeE�tedness, su�h prvice�ds shaff be paid �❑ Trustar as Trustv�'s
<br /> in�erests may appear.
<br /> LENDER'S EXPENDITURES. If Trustar fai[s �A} t❑ keep �he Property fre� of all taxes, [iens� securi�y interests.
<br />
|