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<br />K. Other Instruments. A default occurs under the terms of any instrument evidencing or pertaining to the
<br />Secured Debts.
<br />L. Insecurity. Anything else happens that causes Lender to reasonably believe that Lender will have
<br />difficulty collecting the amount owed under the terms of the Secured Debts or significantly impairs the value
<br />of the Property.
<br />15. REMEDIES. Lender may use any and all remedies Lender has under state or federal law or in any instrument
<br />evidencing or pertaining to the Secured Debts, including, without limitation, the power to sell the Property. Any
<br />amounts advanced on Grantor's behalf will be immediately due and may be added to the balance owing under
<br />the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be
<br />available on Grantor's default.
<br />Subject to any right to cure, required time schedules or other notice rights Grantor may have under federal and
<br />state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately
<br />due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a default or
<br />anytime thereafter.
<br />All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at
<br />law or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial
<br />payment on the Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are
<br />filed will not constitute a waiver of Lender's right to require complete cure of any existing default. By choosing
<br />any one or more of these remedies Lender does not give up Lender's right to use any other remedy. Lender
<br />does not waive a default if Lender chooses not to use a remedy. By electing not to use any remedy, Lender
<br />does not waive Lender's right to later consider the event a default and to use any remedies if the default
<br />continues or happens again.
<br />16. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law,
<br />Grantor agrees to pay all expenses of collection, enforcement or protection of Lender's rights and remedies
<br />under this Security Instrument. Grantor agrees to pay expenses for Lender to inspect and preserve the Property
<br />and for any recordation costs of releasing the Property from this Security Instrument. Expenses include, but are
<br />not limited to, attorneys' fees, court costs and other legal expenses. These expenses are due and payable
<br />immediately. If not paid immediately, these expenses will bear interest from the date of payment until paid in
<br />full at the highest interest rate in effect as provided for in the terms of the Secured Debts. To the extent
<br />permitted by the United States Bankruptcy Code, Grantor agrees to pay the reasonable attorneys' fees Lender
<br />incurs to collect the Secured Debts as awarded by any court exercising jurisdiction under the Bankruptcy Code.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental
<br />Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act
<br />(CERCLA), all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous
<br />substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant
<br />or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the
<br />public health, safety, welfare or environment. The term includes, without limitation, any substances defined as
<br />"hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or "regulated substance"
<br />under any Environmental Law.
<br />Grantor represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance has been,
<br />is, or will be located, transported, manufactured, treated, refined, or handled by any person on, under or
<br />about the Property, except in the ordinary course of business and in strict compliance with all applicable
<br />Environmental Law.
<br />B. Except as previously disclosed and acknowledged in writing to Lender, Grantor has not and will not cause,
<br />contribute to, or permit the release of any Hazardous Substance on the Property.
<br />C. Grantor will immediately notify Lender if (1) a release or threatened release of Hazardous Substance
<br />occurs on, under or about the Property or migrates or threatens to migrate from nearby property; or (2) there
<br />is a violation of any Environmental Law concerning the Property. In such an event, Grantor will take all
<br />necessary remedial action in accordance with Environmental Law.
<br />D. Except as previously disclosed and acknowledged in writing to Lender, Grantor has no knowledge of or
<br />reason to believe there is any pending or threatened investigation, claim, or proceeding of any kind relating
<br />to (1) any Hazardous Substance located on, under or about the Property; or (2) any violation by Grantor or
<br />any tenant of any Environmental Law. Grantor will immediately notify Lender in writing as soon as Grantor
<br />has reason to believe there is any such pending or threatened investigation, claim, or proceeding. In such an
<br />event, Lender has the right, but not the obligation, to participate in any such proceeding including the right
<br />to receive copies of any documents relating to such proceedings.
<br />E. Except as previously disclosed and acknowledged in writing to Lender, Grantor and every tenant have
<br />been, are and will remain in full compliance with any applicable Environmental Law.
<br />F. Except as previously disclosed and acknowledged in writing to Lender, there are no underground storage
<br />tanks, private dumps or open wells located on or under the Property and no such tank, dump or well will be
<br />added unless Lender first consents in writing.
<br />G. Grantor will regularly inspect the Property, monitor the activities and operations on the Property, and
<br />confirm that all permits, licenses or approvals required by any applicable Environmental Law are obtained and
<br />complied with.
<br />H. Grantor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the
<br />Property and review all records at any reasonable time to determine (1) the existence, location and nature of
<br />any Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and magnitude
<br />of any Hazardous Substance that has been released on, under or about the Property; or (3) whether or not
<br />Grantor and any tenant are in compliance with applicable Environmental Law.
<br />Northcott Company
<br />Nebraska Deed Of Trust Initials
<br />NEI302S01064C000000000000002E0000002Fn2 101996 Bankers Systems, Inc., St. Cloud, MN Page 4
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