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201804180 <br />DEED OF TRUST <br />''(Continued) Page 2 <br />whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a <br />term greater than three (3) years, lease- option contract, or by sale, assignment, or transfer of any beneficial interest in <br />or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real <br />Property. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by <br />Nebraska law. <br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of <br />Trust: <br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, <br />charges (including water and sewer), fines and impositions levied against or on account of the Property, and shall <br />pay when due all claims for work done on or for services rendered or material furnished to the Property. Trustor <br />shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of <br />Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of <br />Trust. <br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of <br />Trust. <br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended <br />coverage endorsements on a fair value basis for the full insurable value covering all Improvements on the Real <br />Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee <br />clause in favor of Lender, together with such other hazard and liability insurance as Lender may reasonably require. <br />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 <br />from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that <br />coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each <br />insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired <br />in any way by any act, omission or default of Trustor or any other person. Should the Real Property be located in <br />an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard <br />area, Trustor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal <br />balance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under <br />the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the <br />term of the loan. <br />TAX AND INSURANCE RESERVES. Subject to any limitations and consistent with any requirements set by applicable <br />law, Lender may require Trustor to maintain with Lender reserves for payment of annual taxes, assessments, and <br />insurance premiums, which reserves shall be created by an initial deposit and subsequent monthly payments, or <br />payments at such other interval as payments under the Note may be due, of a sum estimated by Lender to be sufficient <br />to pay the total annual taxes, assessments, and insurance premiums Lender reasonably anticipates to be paid from <br />these reserves. The reserve funds shall be held by Lender as a general deposit from Trustor, which Lender may satisfy <br />by payment of the taxes, assessments, and insurance premiums required to be paid by Trustor as they become due. <br />Lender shall have the right to draw upon the reserve funds to pay such items, and Lender shall not be required to <br />determine the validity or accuracy of any item before paying it. Nothing in the Deed of Trust shall be construed as <br />requiring Lender to advance other monies for such purposes, and Lender shall not incur any liability for anything it may <br />do or omit to do with respect to the reserve account. Subject to any limitations set by applicable law, if the reserve <br />funds disclose a shortage or deficiency, Trustor shall pay such shortage or deficiency as required by Lender. If Lender <br />discovers that the payments into the reserve account have produced a surplus beyond the annual amounts due to be <br />paid from the reserve funds by more than the cushion permitted by applicable law, but a payment on the Note has not <br />been received within 30 days of the payment due date, Lender may retain the excess funds. All amounts in the reserve <br />account are hereby pledged to further secure the Indebtedness, and Lender is hereby authorized to withdraw and apply <br />such amounts on the Indebtedness upon the occurrence of an Event of Default. Lender shall not be required to pay any <br />interest or earnings on the reserve funds unless required by law or agreed to by Lender in writing. Lender does not hold <br />the reserve funds in trust for Trustor, and Lender is not Trustor's agent for payment of the taxes and assessments <br />required to be paid by Trustor. <br />LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes, liens, security interests, <br />encumbrances, and other claims, (B) to provide any required insurance on the Property, or (C) to make repairs to the <br />Property then Lender may do so. If any action or proceeding is commenced that would materially affect Lender's <br />interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender <br />believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will <br />then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment <br />by Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on <br />demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment <br />payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of <br />the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. <br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed <br />of Trust: <br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, <br />free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any <br />title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection <br />with this Deed of Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of <br />Trust to Lender. <br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the <br />title to the Property against the lawful claims of all persons. <br />EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following <br />happen: <br />Payment Default. Trustor fails to make any payment when due under the Indebtedness. <br />Break Other Promises. Trustor breaks any promise made to Lender or fails to perform promptly at the time and <br />strictly in the manner provided in this Deed of Trust or in any agreement related to this Deed of Trust. <br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this <br />Deed of Trust, the Note or in any of the Related Documents. <br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment <br />for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien. <br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any part of <br />Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the <br />commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor. <br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the <br />Indebtedness or any Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability <br />