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200105719
<br />2. Title. Trustor is the owner of the property and has the right
<br />and authority to execute this Deed of Trust in respect to the property.
<br />3. Taxes and Assessment. To pay, when due, all taxes, special
<br />assessments and all other charges against the property, before the same
<br />become delinquent, and, in the event Beneficiary shall so require, to add
<br />to the payments required under the note secured hereby, such amount as
<br />may be sufficient to enable Beneficiary to pay such taxes, assessments
<br />or other charges as they become due.
<br />4. Insurance. To keep the improvements now or hereafter located
<br />on the real estate described herein insured against damage by fire and
<br />such other hazards as Beneficiary may require, in amounts and companies
<br />acceptable to Beneficiary, and with loss payable to Beneficiary. In case
<br />of loss under such policies, Beneficiary is authorized to adjust, collect
<br />and compromise, in her discretion, all claims thereunder and, at her sole
<br />option, is authorized to either apply the proceeds to the restoration of
<br />the property or upon the indebtedness secured hereby, but payments
<br />required by the note shall continue until the sums secured hereby are
<br />paid in full.
<br />5. Repair, Maintenance, Remodeling and Use. To promptly repair,
<br />restore or rebuild any buildings or improvements now or hereafter on the
<br />property; to keep the property in good condition and repair, without
<br />waste and free from mechanics or other liens not expressly subordinated
<br />to the lien hereof; to not make, suffer or permit any nuisance to exist
<br />nor to diminish or impair the value of the property by any act or
<br />omission of act; and to comply with all requirements of law without
<br />respect to the property. Any remodeling or remodifications to any of the
<br />property by the Trustor must conform to city code and compliance of the
<br />City of Grand Island, Hall County, Nebraska.
<br />6. Condemnation. In the event the property, or any part thereof,
<br />shall be taken by eminent domain, Beneficiary is entitled to collect and
<br />receive all compensation which may be paid for any property taken or for
<br />damages to property not taken, and Beneficiary shall apply such
<br />compensation, at its option, either to a reduction of the indebtedness
<br />secured hereby or to repair and restore the property so taken.
<br />7. Performance by Beneficiary. Beneficiary may, but shall
<br />have no obligation to, do any act which Trustor has agreed but failed to
<br />do, and Beneficiary may also do any act she deems necessary to protect
<br />the lien hereof. Trustor agrees to repay, upon demand, any sums so
<br />expended by Beneficiary for the above purposes, and any sum so expended
<br />by Beneficiary shall be added to the indebtedness secured hereby and
<br />become secured by the lien hereof. Beneficiary shall not incur any
<br />personal liability because of anything it may do or omit to do hereunder.
<br />8. Assignment of Rents. Beneficiary shall have the right, power
<br />and authority during the continuance of this Deed of Trust to collect the
<br />rents, issues and profits of the property and of any personal property
<br />located thereon with or without taking possession of the property
<br />affected hereby, and Trustor hereby absolutely and unconditionally
<br />assigns all such rents, issues and profits to Beneficiary. Beneficiary,
<br />however, hereby consents to Trustor's collection and retention of such
<br />rents, issues and profits as they accrue and become payable, so long as
<br />Trustor is not, at such time, in default with respect to payment of any
<br />indebtedness secured hereby, or in the performance of any agreement
<br />hereunder. If any event of default described hereafter in respect to
<br />this Deed of Trust shall have occurred and be continuing, Beneficiary,
<br />as a matter of right and without notice to Trustor or anyone claiming
<br />under Trustor, and without regard to the value of the trust estate or the
<br />interest of the Trustor therein, shall have the right to apply to any
<br />court having jurisdiction to appoint a receiver of the property.
<br />9. Transfer of Property. If all or any part of the property or any
<br />interest of Trustor therein is sold, transferred or further encumbered
<br />without the express or written consent of Beneficiary, Beneficiary may,
<br />at her sole option, declare all sums secured by this Deed of Trust to be
<br />immediately due and payable and proceed to the remedies available to her
<br />under the default provisions contained therein.
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