|
2� 17�2�98
<br /> aEEv oF TRusT
<br /> Loan No: 1 D13�4'1�� ��Orltinu�d� Pag� 3
<br /> so long as Trustor has notified Lender in writEng prior to daing sv and so lang as, in Lender's sole vpinion, Lender's
<br /> interests in the Prvper�y are not jeapardizecf. Lender may require Trustvr t❑ post adequate security �r a surety
<br /> bond, reasonably satisfactory ta Lender, to protect Lender's interest.
<br /> Duty tfl Prat�ct. Trustor agrees neither to abandan ❑r lea�e unattended the Propsrty. Trustor shall do all other
<br /> acts, in addition to thvse a�ts set forth abo�e in this section, which fr�m the character and use af the Property ar�
<br /> reasvnably ne�essary ta protect and preser�e the Prvperty.
<br /> DUE �N SALE - ��NSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums
<br /> secur�ed by this Deed of Trust upon the sale or transfer, wi�hQut Lender's pr�or written consent, of all ar any part of the
<br /> Real Praperty, �r any interest in the Real Property. A "sale or transfer" means the cnn�eyance vf Rea� Prvperty or any
<br /> right, titie ar interest �n the Real Prvperty; whether legal, benefi�ial ❑r equitable; whether �o�untary or in�oluntary;
<br /> whether by outright sale, deed, installment sal� c�ntra�t, fand contract, contra�t tar deed, leasehvld interest with a
<br /> term greater than three �3� years, lease-option �antract, ❑r t�y sa1e, assignment, ar transfer of any benefFcia� interest in
<br /> or to any land trust holding titl� to the R�al Property, or by any other methad of con�eyance of an interest in the Real
<br /> Property, Howe�er, this option shall nat be exercised by Lender if SLJCII exercise is prahibited by federal law vr by
<br /> Nebraska law.
<br /> TAXES AND LIENS. The f�llowing prn�isions relating t❑ the taxes and liens ❑n the Property are part ❑f this Deed af
<br /> Trust:
<br /> Payment. Trus�or shall pay wh�n due �and in all events pri�r to delinquency� all tax�s, special taxes, assessments,
<br /> charges �including water and sewery, f�nes and impositions le�ied against vr on acc�unt of th� Prvperty, and sha�l
<br /> pay when due aii ciaims for wvrk dvne on or for ser�ices rendered or materia! furnished to the Property. Trustor
<br /> shall maintain the Property fr�e �f a�l liens ha�ing priority o�er or equal to th� interest of Lend�r under this Deed ❑f
<br /> Trust, except �ar the lien ❑f taxes and assessments nvt due and except as otherwise prv�ided in this Deed o�
<br /> Trust.
<br /> Right#o Contest. Trustor may withhold payment of any tax, assessment, or claim in cvnnectifln with a good faith
<br /> dispute ❑�er the obligatian to pay, so iong as Lender's interest in the Praperty is not jeapardized. If a lien arises ar
<br /> is filed as a result of nonpayment, Trustvr shall within fifteen �15� days after the lien arises vr, if a lien is fifed,
<br /> within fifteen �1 5y days atter Trustar has nvtice of the filing, secure the discharge Qf the lien, or if requested by
<br /> Lender, depasi� with Lender cash a�a sut�i�ient corporate sureiy band Qr❑th�r securi#y satis#act�ry tv Lender in a�
<br /> amount sufficient to discharge the lien plus any costs and attorneys' #ees, ❑r other charges that cauld accrue as a
<br /> result of a foreclasure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall satisfy
<br /> any ad�erse�udgment bef�re enforcement against the Property. Trustor shall name Lender as an additional oblige�
<br /> under any surety hond furnished in the cantest praceedings.
<br /> E�idence of Payment. Trustor shall upon demand furnish ta Lender satisfa�tory e�idencs ❑f payment ❑f the taxes
<br /> or assessm�nts and shall authorize the appropria�e ga�ernm�ntal afficial to deli�er to Lender at any time a written
<br /> statement of the taxes and assessments against the Property.
<br /> Not�ce of Constructivn. Tru�t�r shall notify Lender at I�ast fifteen �15y days befare any wvrk is commenced, any
<br /> ser�ices are furnished, or any mater�als are supplied to the Property, if any me�hanic's iien, matertalmen's lien, ar
<br /> ather lien cauld be asserted on account vf the work, ser�ices, or materia�s. Trustor will upvn request af Lender
<br /> furnish to Lender ad�ance assurances satisfactory to Lender that Trustor can and will pay the cost of such
<br /> impra�ernents.
<br /> PRQPERTY DAMaGE �NSURANCE. The fol�owing pra�isians relating to insuring the Praperty are a part vf this Deec� ❑f
<br /> Trust.
<br /> Maintenance of lnsurance. Trus�or shall pra�ure and maintain policies of fire insurance with �tandard extended
<br /> cfl�erage endorsements on a #air �alue basis for the full insurahle �alue co�ering a�l Impro�ements nn the Reai
<br /> Property in an amount sufficient ta a�oid appli�ation of any ct�insuran�e clause, and wi�h a standard mortgage�
<br /> clause in fa�ar of Lender. Trustor shall alsa pro�ure and maintain comprehensive general liability insurance in such
<br /> co�e�age amvunts as Lender may requ�st with Trustee and Lender being named as additional insureds in such
<br /> liability insurance policiss. Additionally, Trust�r shall maintain su�h ❑ther insuran�e, inc�uding but not I�mited t❑
<br /> ha�ard, business interruption, and boiler insurance, as Lender may reasonably require. Palicies shall be wr�tten in
<br /> form, amounts, ca�erages and bas�s reasvnably a�ceptable ta Lender and issued by a company or campanies
<br /> reasvnably acceptable to Lender. Trustor, upon request vf Lender, will deli�er to Lender fram time ta time the
<br /> p�licies vr certificates ❑f insurance in form satisfa�tory ta Lender, in�luding stipulations that cv�erages wif� not be
<br /> cance�ied or diminished without a�t least ten �1 Q� days priar written nvti�e to Lender. Each insurance pali�y also
<br /> shall inciude an endorsement pro�iding that �o�erage in fa�ar of Lender wil! nvt be impaired in any way by any act,
<br /> omission ar default nf Trustor ar any a�her persan. 5hauld the Real Property he located in an area designated by
<br /> the Administratflr ❑f the Federai Emergen�y Manag�ment Agency as a special flaod hazard ar�a, Trustor agrees to
<br /> ❑btain and mainta�n Federai Flavd Insurance, if a�ailable, far the full unpaid p�inGipaf balance of the loan and any
<br /> prior liens vn the prop�rty securing the loan, up tv the maximum policy limits se� under th� National FFood
<br /> �nsuran�e Program, or as otherwise required by Lender, and t❑ maintain such insurance for the term vf the loan.
<br /> Appli�ation vf Proceeds. Trustvr shall prampt�y notify Lender of any lass ar damage ta the Property. Lender may
<br /> make praof of Inss rf Trustor fails to da s� within fifteen 4�5} days of the �asualty. 1Nhether or not L�nder's
<br /> security is impaired, Lender may, at Lender's election, rec�i�e and retain the proceeds of any insurance and app�y
<br />
|