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89- 100567
<br />Deed has been granted for the purpose of securing the indebtedness and obligations
<br />evidenced by the Vote including any additional sums, with interest thereon, as may be
<br />hereafter borrowed from the Lender, by the Borrower, ag evidenced by subsequent
<br />promissory notes, of either or both of the Trustors or the person named in this Trust
<br />Deed whose performance is secured by this Trust peed, all of which will be secured by
<br />this Trust Deed, unless otherwise specified. However, in no event, shall the total
<br />amount secured hereby exceed the sum of $3 50.000 , 00
<br />S.Taxes and Insurance. Borrower will pay, before delinquency, all taxes and
<br />assessments that may become liens against the real property. Borrower further agrees
<br />to keep the Property insured against loss, damage or fire with extended coverage to
<br />the amount of the full insurable value on the replacement cost basis (or less in the
<br />discretion of the Lender) with a Nebraska licensed insurance company. The policy shall
<br />have such endorsements to Provide that loss of such insurance shall be payable to
<br />Lender. The Lender may require a policy evidencing this insurance and receipt for the
<br />payments of the premiums. The Paclicy shall contain a provision requiring 30 days cc
<br />more notice to Lender prior to cancellation or modification. Borrower shall give Lender
<br />evidence of renewal of the policy with Premiums paid, 30 days or more before
<br />expiration. Borrower will not permit any cm-ncition to eximat on the real property which
<br />would invalidate any insurance thereon. Lender shall not by the fact of approving,
<br />disapproving, accepting, Preventing, obtaining or failing to obtain any such insurance,
<br />incur any liability for, the 'form or legal sufficiency of insurance contracts, solvency of
<br />insurers, or payment ct£' Xasses, and Borrower hereby expressly assumes full responsiblity
<br />therefor and any liabOty, if any, hereunder.
<br />6. Maintenance. of Property. Borrower shall keep the property in, good repair and
<br />shall not com mit waste or c%terioratiom No improvements shall be • removed or
<br />structurally altered and no fixture which shall constitute an accessory to the property
<br />shall be removed without Trustee's approval. Borrower shall not permit any lien of any .
<br />mechanic, materlalman car any other ftatUtor i aucauh to the property and Shall
<br />comply with an laws affecting the Property,
<br />7. Right of Entry. Lender, may at any time without notice to Borrower, enter.
<br />and infect a Protect the property in person or by it's agent, in any manner as may be
<br />deemed reasonable and necessary to protect the value of the property. Lender may
<br />undertake such repairs or maintenance as it deems necessary and the cost shall
<br />immediately become due and Payable to Lender and said amount shall be reimbursed in
<br />the•same manner as'provided for insurance 'and taxes. The Lender shall not be deemed
<br />to have -waived its right to declare' default urger this Trust Deed for failure to
<br />maintain the Property correctly even though the Lender undertakes to perform such
<br />repairs and . maintenance.
<br />8. Protection of Lender's Security. If Borrower fails to perform the agreements
<br />contained pet trus Trust Deed or if yapy proceedram are commenced which materially
<br />affect Lender's interest in the real Property including but not limited to eminent
<br />domain, bankruptcy, enforcement of statutory provisions or foreclosure of a prior
<br />mortgage or Trust Deed, then the Lender, at it's option, upon such notice to Borrower
<br />as may be required by law, may make such appearance, dispose of such sums and take
<br />any action necessary to Protect Lender's interest, including but not limited to,
<br />disbursement of reasonable attorneys fees and entry on to the.real..property. In the
<br />event of any default hereunder and whether or not an action is Instituted to enforce
<br />this Trust Deed or the Note, R=Ower promises to gay to -the Lender any reasonabAe
<br />sum for casts incurred in good frith by Lender. The Borrower shall be liable to Lender
<br />for repayment of -said amounts together with interest at the highest legal rate not to
<br />exceed twenty (20) per cent.
<br />9. No waiver. Acceptance by Lender of any sums from Borrower or any other
<br />person after'tme is due shall not constitute a waiver of the right to require ful
<br />payment or bo declare default. The acceptance by Lender of any sum in an amount less
<br />than the sum due shall be deerne' d an acceptance on account and shall not constitute a
<br />waiver.
<br />10.. Assignment Of R4nts and Possession. In the event of default in the
<br />Performance, of this Trust Deed, the Note or any other instruments that relate to this
<br />loan, the Lender shall be entitled to the immediate possession of the Property together
<br />with all the rents.Lnd income derived from the real property. The Lender has
<br />discretion to use the rents and profits for the purpose of paying any accounts
<br />.mOhptdoned under this Trust Deed, if said accounts are not Pair] by Borrower. In the
<br />everst the Lender takes possession, it shall, not be liable for failure to procure tenants
<br />or collect rents. Specifically, if Borrower defaults, Borrower assigns and transfers to
<br />Lender all of the right, title and interest of the Borrower to the rents anc' ')rofits that
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