|
20/800072
<br />Lender, as requested by Lender, any rights, claims or defenses Grantor may have against
<br />parties who supply labor or materials to maintain or improve the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of
<br />the Secured Debt to be immediately due and payable upon the creation of, or contract for the
<br />creation of, any lien, encumbrance, transfer or sale of all or any part of the Property. This right
<br />is subject to the restrictions imposed by federal law, as applicable.
<br />10. TRANSFER OF AN INTEREST IN THE GRANTOR. If Grantor is an entity other than a natural
<br />person (such as a corporation, partnership, limited liability company or other organization),
<br />Lender may demand immediate payment if:
<br />A. A beneficial interest in Grantor is sold or transferred.
<br />B. There is a change in either the identity or number of members of a partnership or similar
<br />entity.
<br />C. There is a change in ownership of more than 25 percent of the voting stock of a
<br />corporation, partnership, limited liability company or similar entity.
<br />However, Lender may not demand payment in the above situations if it is prohibited by law as
<br />of the date of this Security Instrument.
<br />11. WARRANTIES AND REPRESENTATIONS. Grantor makes to Lender the following
<br />warranties and representations which will continue as long as this Security Instrument is in
<br />effect:
<br />A. Power. Grantor is duly organized, and validly existing and in good standing in all
<br />jurisdictions in which Grantor operates. Grantor has the power and authority to enter into
<br />this transaction and to carry on Grantor's business or activity as it is now being conducted
<br />and, as applicable, is qualified to do so in each jurisdiction in which Grantor operates.
<br />B. Authority. The execution, delivery and performance of this Security Instrument and the
<br />obligation evidenced by this Security Instrument are within Grantor's powers, have been
<br />duly authorized, have received all necessary governmental approval, will not violate any
<br />provision of law, or order of court or governmental agency, and will not violate any
<br />agreement to which Grantor is a party or to which Grantor is or any of Grantor's property is
<br />subject.
<br />C. Name and Place of Business. Other than previously disclosed in writing to Lender,
<br />Grantor has not changed Grantor's name or principal place of business within the last 10
<br />years and has not used any other trade or fictitious name. Without Lender's prior written
<br />consent, Grantor does not and will not use any other name and will preserve Grantor's
<br />existing name, trade names and franchises.
<br />12. PROPERTY CONDITION, ALTERATIONS, INSPECTION, VALUATION AND APPRAISAL.
<br />Grantor will keep the Property in good condition and make all repairs that are reasonably
<br />necessary. Grantor will not commit or allow any waste, impairment, or deterioration of the
<br />Property. Grantor will keep the Property free of noxious weeds and grasses. Grantor agrees
<br />that the nature of the occupancy and use will not substantially change without Lender's prior
<br />written consent. Grantor will not permit any change in any license, restrictive covenant or
<br />easement without Lender's prior written consent. Grantor will notify Lender of all demands,
<br />proceedings, claims, and actions against Grantor, and of any loss or damage to the Property.
<br />No portion of the Property will be removed, demolished or materially altered without Lender's
<br />prior written consent except that Grantor has the right to remove items of personal property
<br />comprising a part of the Property that become worn or obsolete, provided that such personal
<br />property is replaced with other personal property at least equal in value to the replaced personal
<br />property, free from any title retention device, security agreement or other encumbrance. Such
<br />replacement of personal property will be deemed subject to the security interest created by this
<br />Security Instrument. Grantor will not partition or subdivide the Property without Lender's prior
<br />written consent.
<br />Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time
<br />and frequency for the purpose of inspecting, valuating, or appraising the Property. Lender will
<br />give Grantor notice at the time of or before an on -site inspection, valuation, or appraisal for
<br />on -going due diligence or otherwise specifying a reasonable purpose. Any inspection, valuation
<br />or appraisal of the Property will be entirely for Lender's benefit and Grantor will in no way rely
<br />on Lender's inspection, valuation or appraisal for its own purpose, except as otherwise provided
<br />by law.
<br />13. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants
<br />contained in this Security Instrument, Lender may, without notice, perform or cause them to be
<br />performed. Grantor appoints Lender as attorney in fact to sign Grantor's name or pay any
<br />amount necessary for performance. Lender's right to perform for Grantor will not create an
<br />obligation to perform, and Lender's failure to perform will not preclude Lender from exercising
<br />any of Lender's other rights under the law or this Security Instrument. If any construction on
<br />RJ LAND COMPANY, LLC
<br />Nebraska Deed Of Trust
<br />NE /4XHERMANN00000000001544050N
<br />Wolters Kluwer Financial Services 0 1996, 2017 Bankers Page 3
<br />Systeme"'
<br />
|