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06-15 -2000 200004996 DEED OF TRUST Page 3
<br />L%-n. No 456102 (Continued)
<br />company interests, as the case may be, of Trustor. However, this option shall 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 shall 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 claims for work done on or for
<br />services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority over or equal to the
<br />interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Deed
<br />of Trust.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a
<br />replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any
<br />coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such other hazard and liability insurance as Lender
<br />may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a
<br />company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies
<br />or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at
<br />least ten (10) days' prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of
<br />Lender will not be impaired in any way by any act, omission or default of Trustor or any other person. The Real Property is located in an area
<br />designated by the Director of the Federal Emergency Management Agency as a special flood hazard area. Trustor agrees to obtain and
<br />maintain Federal Flood Insurance for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the
<br />maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for
<br />the term of the loan.
<br />EXPENDITURES BY LENDER. If Trustor fails to comply with any provision of this Deed of Trust, or if any action or proceeding is commenced that
<br />would materially affect Lender's interests in the Property, Lender on Trustor's behalf may, but shall not be required to, take any action that Lender
<br />deems appropriate. Any amount that Lender expends in so doing will bear interest at the rate provided for in the Credit Agreement from the date
<br />incurred or paid by Lender to the date of repayment by Trustor. All such expenses, at Lender's option, will (a) be payable on demand, (b) be
<br />added to the balance of the credit line and be apportioned among and be payable with any installment payments to become due during either (i)
<br />the term of any applicable insurance policy or (ii) the remaining term of the Credit Agreement, or (c) be treated as a balloon payment which will be
<br />due and payable at the Credit Agreement's maturity. This Deed of Trust also will secure payment of these amounts. The rights provided for in this
<br />paragraph shall be in addition to any other rights or any remedies to which Lender may be entitled on account of the default. Any such action by
<br />Lender shall not be construed as curing the default so as to bar Lender from any remedy that it otherwise would have had.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust.
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all liens and
<br />encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final title opinion issued in
<br />favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full right, power, and authority to execute and
<br />deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property against the
<br />lawful claims of all persons.
<br />DEFAULT. Each of the following, at the option of Lender, shall constitute an event of default ("Event of Default") under this Deed of Trust: (a)
<br />Trustor commits fraud or makes a material misrepresentation at any time in connection with the Credit Agreement. This can include, for example, a
<br />false statement about Trustor's income, assets, liabilities, or any other aspects of Trustor's financial condition. (b) Trustor does not meet the
<br />repayment terms of the Credit Agreement. (c) Trustor's action or inaction adversely affects the collateral for the Credit Agreement or Lender's rights
<br />in the collateral. This can include, for example, failure to maintain required insurance, waste or destructive use of the dwelling, failure to pay taxes,
<br />death of all persons liable on the account, transfer of title or sale of the dwelling, creation of a lien on the dwelling without our permission, foreclosure
<br />by the holder of another lien, or the use of funds or the dwelling for prohibited purposes.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Trustee or Lender, at its option,
<br />may exercise any one or more of the following rights and remedies, in addition to any other rights or remedies provided by law:
<br />Acceleration upon Default; Additional Remedies. If any event of default occurs as per the terms of the Credit Agreement secured hereby,
<br />Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and
<br />payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without
<br />regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its own name or in the name
<br />of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part
<br />of the Property or interest in the Property; increase the income from the Property or protect the security of the Property; and, with or without
<br />taking possession of the Property, sue for or otherwise collect the rents, issues and profits of the Property, including those past due and
<br />unpaid, and apply the same, less costs and expenses of operation and collection, including attorneys' fees, to any indebtedness secured
<br />by this Deed of Trust, all in such order as Lender may determine. The entering upon and taking possession of the Property, the collection
<br />of such rents, issues and profits, and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust
<br />or invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the continuance in
<br />possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall be entitled to
<br />exercise every right provided for in the Credit Agreement or the Related Documents or by law upon the occurrence of any event of default,
<br />including the right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the covenants
<br />hereof; and
<br />(c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause Trustor's
<br />interest in the Property to be sold, which notice Trustee shall cause to be duly filed for record in the appropriate offices of the County in
<br />which the Property is located; and
<br />(d) With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the
<br />Nebraska Uniform Commercial Code.
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