|
06-09 -2000 2 0, 0 0 0 4 914 DEED OF TRUST Page 2
<br />Loan No 25605 ` (Conftivd)
<br />t ,4
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter
<br />owned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all
<br />replacements 9f,-and all substitutions for, any.of such property; and together with all proceeds (including without limitation all insurance
<br />proceeds and refunds of premiums) from any sele.pt.other disposttign of the Property. .
<br />Property.. The word "Properly" means coUsc#v* the Real Propertyand the Personal Properly:
<br />Real Property: The Words 'Real Property" mean.,90,property,inte is and rights described above in the "Conveyance and Grant" section.
<br />Related Documents. The words. "Related pocurWts�ymean and include without limitation all promissory notes, credit agreements, loan
<br />agreements, environmental agreements; guaranties, sec agreements, mortgages, deeds of trust, and all other Instruments, agreements and
<br />documents, whether now or hereafter existing; executed in.connection with the Indebtedness.
<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the
<br />Property.
<br />Trustee. The word "Trustee" means EXCHANGE BANK and any substitute or successor trustees.
<br />Trustor. The word "Trustee means any and all persons and entities executing this Deed of Trust, Including without limitation all Trustors named
<br />above.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (i) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF
<br />DEED OF TRUST INCLUDING THE
<br />AND ALL OBLIGATIONS OF TRUSTOR THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN TRUSTOR %1ND LEWDER OF
<br />EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED
<br />DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT WIDER THIS DEED OF TRUST. THE NOTE AND THIS
<br />DEED OF TRUST ARE GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Dead of trust, Trustor shall pay to Lender all amounts secured by this Deed
<br />of Trust as they become due, and shall strictly and in a timely manner perform all of Trustoes obligations under the Note, this Deed of Trust, and the
<br />Related Documents. ,�~�
<br />POSSESSION AND MAINTENAlk�O61 Trustor agrees that Trustor's possession and use of the Property shall be governed by
<br />the following provisions:
<br />Possession and Use. Until the occurrencwof an Event of Default, Trustor may (a) remain in possession and control of the Property, (b) use,
<br />operate or manage the Property, and (c) collect any Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property In tenantable condition and promptly perform all repairs, replacements, and maintenance
<br />necessary to preserve Its value.
<br />'Havandous Substarues. The tarns "hazardous waste," "hazardous substance," "disposal," "release," and "threatened release," as used in this
<br />Deed of Trust, shall have the same meanings as set forth in the Comprehensive Environrrental Response, Compensation, and Liability Act of
<br />1980, as amended, 42 U.S.C. Section 9601, at seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No.
<br />99499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, at seq., the Resource Conservation and Recovery Act,
<br />42 U.S.C. Section 6901, st seq., or other applicable state or Federal laws, rules, or regulations adopted pursuant to any of the foregoing. The
<br />terms "hazardous wash" and "hazardous substance" shah also include, without Imitation, petroleum and petroleum by- products or any fraction
<br />thereof and asbestos. Trustor represents and warrants to Lender that (a) During tin period of Trustoes ownership of the Property, there has
<br />been no arse, generation, manufacture, storage, treatment, disposal, release or threatened release of any hazardous waste or substance by any
<br />person on, under, about or from tin Property; (b) Trustor has no knowledge of, or reason to believe that there has been, except as previously
<br />disclosed to and acknowledged by Lender In wilting, m any use, generation, manufacture, storage, treatment, disposal, release, or threatened
<br />release of any hazardous was* or substance on, under, about or from the Property by any prior owners or occupants of the Property or (ti) any
<br />actual fir threellsined Migation or claims of any kind by any person relating to such matters; and (c) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (1) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property shall use,
<br />is — - - qtb nder .bout or from the Propelldy and (e) any
<br />such be- tterrdsrciad ariow wMtr ale applicable federal, tote, an laws, repulat% iCnd adinances� 7rududing withoUt --
<br />Irnitation those laws, regtilatlona, end ordimuhces dastard above. Trustor auMorizes !.ender and its agents to enter upon the Properly to
<br />make such Inspections and Nets, at Trustd'a expense, as Lender may deem appropriate to determine compliance of the Property with this
<br />section of the Deed of Trust. Any inspection or tests made by Lender ahal be for Lender's purposes only and shat not be construed to create
<br />any responaibilty or Ilabitity on the part of Lander to Trustor or to any other person. The repraentatlons and warranties contelned herein are
<br />based on Trustor's due dhtigenoe in investigatirrp.thw Property fax hazardous waste and hazardous substance. Tnstor hereby (a) releases and
<br />waives any future claim against Lender for Indemnity or conlrteulon in the went Trustor becomes liable for cleanup or other costs under any
<br />such laws, and (b) agrees to indemnify and hold harmless Lender against any and all claim, losses, liabilities, damages, penalties, and
<br />expenses which Lender may directly or indirectly sustain or Killer rGIRMI g from a breach of this section of the Deed of Trust or as a
<br />consequence of any use, generation, manufacture, storage, disposal, release or threatened release of a hazardous waste or substance on the
<br />properties. The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any
<br />Interest In the Property, whether by foreclosure or otherwise.
<br />Nuisance, Warts. Trustor shad not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to the
<br />,Prop" or, Arry portion of the Property.. without p[itirp ,the, generality of the foregoing, Trustor will not remove. or grant to any other party the
<br />right to remove, any timber, minerals (including oI .and gas)r sol, gravel or, rock products without the prior written consent of Lender.
<br />Removal of improvements. Trustm shall not demolish or remove any, Improvements from the Real Property without the prior written consent
<br />of Lender. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory to Lender to
<br />replace such Improvements with Improvements of at feast equal value.
<br />Lender's Right to Enter. Lender and its agents and representatives may enter upon the Real Property at all reasonable times to attend to
<br />Lender's Interests and to inspect the Property for purposes of Trustoes compliance with the term and conditions of this Deed of Trust.
<br />Compllanc�e with Governments Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in
<br />elMect, of all governmental authorities applicable to the use or occupancy of the Property, including without Imitation, the Americans With
<br />,bablildes Act. Trustor may contest in good faith any such law, ordinance, or regulation and withhold cbtrnpiterigM f anir proceeding,
<br />including appropriate appeals, so long as Trustor has noUled Lender in writing prior to doing so and so long as, In Lender's sole opinion,
<br />Lender's interests in the Property are not jeopardized. Lender may require Trustor to post adequate security or a surety bond, reasonably
<br />Duty to Protect. Trustor agrees nelther to abandon nor leave unattended the Property. Trustor shall do all other acts, in addition to those acts
<br />set forth above in this section, which from the character and uu of the Property are reasonably necessary to protect and preserve the Property.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Its option, declare immediately due and payable all sum secured by this Deed of Trust
<br />upon the sale or transfer, without the Lender's prior written consent, of all or any part of the Real Property, or any Interest In the Real Property. A
<br />"sale or transfer" means the conveyance of Real Property or any right, title or Interest therein; whether legal, beneficial or equitable; whether voluntary
<br />or involuntary; whether by outright sale, deed, Instalment sale contract, land contract, contract for deed, leasehold interest with a term greater than
<br />three (3) years, lease -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 (25 %) of the voting stock, partnership interests or limited liability
<br />company interests, as the case may be, of Trustor. However, this option shalt 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 liens on the Property are a part of this Deed of Trust.
<br />Payment. Trustor shah 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 claim for work done on or for
<br />services rendered or material furnished to the Property. Trustor shall maintain the Property free of all lens having priority over or equal to the
<br />Interest of Lender under this Deed of Trust, except for Mil oftaxe iCI aments not due and except as 'otherwisei provided In this Deed
<br />�.
<br />Of Trust ,
<br />
|