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MAY -03 -2001 THU 0141 PM FAX N0. P. 18/42 200104098 3. Lrxurance and Repairv. Tntstor shall maintain fire and extended coverage insurance insuring the Improvements constituting part of the Trust Estate for such antoun(s and on such terns reasciutbly satisfactory to Beneficiary. So long as the Property is secured by a first deed of trust or mortgage, compliance with the insurance requirements of Elie first deed of ttusl or mortgage shall be sufficient to satisfy the requirements of Ellis paragraph 3 relating to insurunce. Trustor shall promptly repair and replace (lie Tnist Estate or any part thereof so that, except for ordinary wear and tear, tlae Trust Estalc shall not deteriorate. In no event shall the Tntstor connrnit waste on or to the Trust Estato, or coconut, suffer or pernut any act to be done in or upon the Tnist Estate in violation ONny law, ordinance or regulation. Trustor sliall pay surd promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Trust Estate or any part thereof. 4. Action.v el jjecting Tru.st Lvtate. Trustor shall appear in and contest any action or proceeding purporting to afi'ect tile security hereof or the rights or powers of Beneficiary or Trustee, and shall Pay all costs and expenses, including cost of evidence ottitie and attorneys' fees, in any Stich action or proceeding in which Beneficiary or Tntstee may :appe:)r. If Trustor fails to make any payment or to do any act as and in tiro manner provided in any of the Loan Instruments, Beneficiary and/or Trustee, each in their own discretion, without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation, may make or do tine satmc in such manner and to such extent as either may deem necessary to protect the security hercor. Trustor shall!, immediately upon demand drerefor by Beneficiary, pay all costs vnd expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including without li nililtion costs of evidence of title, court ctu -ts, appraisals, surveys and attorneys' lees. 5• Eminent Domain. If the Thist Estate, or any part thereof or interest tlrcrein, be taken or dattaagcd by reason of any public improvement or condemnation proceeding, or in any other mariner including decd in lieu thereof ('`Condemnation "), or if Trustor receives any notice or other information regarding such proceeding, Trustor shall give prompt written notice thereof to Beneficiary. Trustor shall be entitled to all compensation, awards and other payments or rolicf thereof and shall be eulitled at its option to eonunence, appear in and prosecute in its own name any action or proceedings. Tntstor shall also be entitled to make any compromise or settlement in connection wit}t such taking or damage. 6. Appointment ofSuccesvor ?rusree. Beneficiary may, from time to time, by a written instrument executed and acknowledged by Beneficiary, mailed to Tntstor and recorded in (he County in which the Tnist Estate is located and by otherwise complying with the provisions of the applicable law of the Stale of Nebraska substitute a successor or successors to tine Trustee named herein or acting hereunder. 7. Sttccecsory andA.ssign.c. This Second Decd of Trust applies to, inures to the benefit Oland binds all panics hereto, their heirs, legatees, devisees, personal representatives successors and assigns. The tern "Bencficiary" shall mean the owner and holder of any promissory note given to beneficiary, [whether or not named as Beneficiary herein -j 8- Ale vr, Consolidation, isles or !.eases. Ttustor covenants ihat Tntstor will not sell, lease or otherwise dispose of any of the Trust Estate. in the event that Trustor sells, leases or otherwise disposes Of any part Of the Tnast Estate, Beneficiaryy may at its option declare the Indebtedness secured hereby immediately due and payable, whether or not aray default exists. Bencficiary shall consent to a transfer of the Trust Estate to a third pony to the extent such third party meets the requirements contained in, and assumes the obligations set forth in the First Deed of Trust. The covenants contained herein shall run with the Property and shall remain in full force and of ecl until the Indebtedness is paid in full. 9. Events vfDqfaulr. Any of the following events shall be deemed an event of default herclmdcr: (a) default shall be made in the payment of the Indebtedness or any other sum secured hereby when due;