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200107578
<br />F. Except as previously disclosed and acknowledged in writing to Lender, there are no underground storag-a
<br />tanks, private dumps or open wells located on or under the Property and no such tank, dump or well will be
<br />added unless Lender first consents in writing.
<br />G. Grantor will regularly inspect the Property, monitor the activities and operations on the Property, and
<br />confirm that all permits, licenses or approvals required by any applicable Environmental Law are obtained and
<br />complied with.
<br />H. Grantor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the
<br />Property and review all records at any reasonable time to determine (1) the existence, location and nature of
<br />any Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and magnitude
<br />of any Hazardous Substance that has been released on, under or about the Property; or (3) whether or not
<br />Grantor and any tenant are in compliance with applicable Environmental Law.
<br />I. Upon Lender's request and at any time, Grantor agrees, at Grantor's expense, to engage a qualified
<br />environmental ergineer to prepare an environmental audit of the Property and to submit the results of such
<br />audit to Lender. The choice of the environmental engineer who will perform such audit is subject to Lender's
<br />approval.
<br />J. Lender has the right, but not the obligation, to perform any of Grantor's obligations under this section at
<br />Grantor's expense.
<br />K. As a consequence of any breach of any representation, warranty or promise made in this section, (1)
<br />Grantor will indemnify and hold Lender and Lender's successors or assigns harmless from and against all
<br />losses, claims, demands, liabilities, damages, cleanup, response and remediation costs, penalties and
<br />expenses, including without limitation all costs of litigation and attorneys' fees, which Lender and Lender's
<br />successors or assigns may sustain; and (2) at Lender's discretion, Lender may release this Security
<br />Instrument and in return Grantor will provide Lender with collateral of at least equal value to the Property
<br />secured by this SSecurity Instrument without prejudice to any of Lender's rights under this Security
<br />Instrument.
<br />L. Notwithstanding any of the language contained in this Security Instrument to the contrary, the terms of
<br />this section will survive any foreclosure or satisfaction of this Security Instrument regardless of any passage
<br />of title to Lender or any disposition by Lender of any or all of the Property. Any claims and defenses to the
<br />contrary are hereby waived.
<br />16. CONDEMNATION. Grantor will give Lender prompt notice of any pending or threatened action by private or
<br />public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any
<br />other means. Grantor authorizes Lender to intervene in Grantor's name in any of the above described actions or
<br />claims. Grantor assigns to Lender the proceeds of any award or claim for damages connected with a
<br />condemnation or other taking of all or any part of the Property. Such proceeds will be considered payments and
<br />will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of
<br />any prior mortgage, deed of trust, security agreement or other lien document.
<br />17. INSURANCE. Grantor agrees to keep the Property insured against the risks reasonably associated with the
<br />Property. Grantor will maintain this insurance in the amounts Lender requires. This insurance will last until the
<br />Property is released from this Security Instrument. Grantor may choose the insurance company, subject to
<br />Lender's approval, which will not be unreasonably withheld.
<br />All insurance policies and renewals will include a standard "mortgage clause" and, where applicable, "loss payee
<br />clause." If required by Lender, Grantor agrees to maintain comprehensive general liability insurance and rental
<br />loss or business interruption insurance in amounts and under policies acceptable to Lender. The comprehensive
<br />general liability insurance must name Lender as an additional insured. The rental loss or business interruption
<br />insurance must be in an amount equal to at least coverage of one year's debt service, and required escrow
<br />account deposits (if agreed to separately in writing.)
<br />Grantor will give Lender and the insurance company immediate notice of any loss. All insurance proceeds will
<br />be applied to restoration or repair of the Property or to the Secured Debts, at Lender's option. If Lender
<br />acquires the Property in damaged condition, Grantor's rights to any insurance policies and proceeds will pass to
<br />Lender to the extent of the Secured Debts.
<br />Grantor will immediately notify Lender of cancellation or termination of insurance. If Grantor fails to keep the
<br />Property insured Lender may obtain insurance to protect Lender's interest in the Property. This insurance may
<br />include coverages not originally required of Grantor, may be written by a company other than one Grantor
<br />would choose, and may be written at a higher rate than Grantor could obtain if Grantor purchased the
<br />insurance.
<br />18. ESCROW FOR TAXES AND INSURANCE. Grantor will pay to Lender amounts for (a) yearly taxes and
<br />assessments on the Property which under the law may be superior to this Security Instrument, (b) yearly
<br />leasehold payments or ground rents (if any), (c) yearly premiums for hazard or property insurance, (d) yearly
<br />premiums for flood insurance (if any), and (e) yearly premiums for mortgage insurance (if any). Grantor will pay
<br />those amounts to Lender unless Lender tells Grantor, in writing, that Grantor does not have to do so, or unless
<br />the law requires otherwise. 'Grantor will make those payments at the times required by Lender.
<br />Lender will estimate from time to time Grantor's yearly taxes, assessments, leasehold payments or ground rents
<br />and insurance premiums, which will be called the Escrow Items. Lender will use existing assessments and bills
<br />and reasonable estimates of future assessments and bills. The amounts that Grantor pays to Lender for Escrow
<br />Items under this section will be called the Funds. Lender will collect and hold Funds in an amount not to exceed
<br />the maximum amount a lender for a federally related mortgage loan may require for Grantor's escrow account
<br />under the federal Real Estate Settlement Procedures Act of 1974 (as amended), unless another law that applies
<br />to the Funds sets a lesser amount. If so, Lender will collect and hold Funds in the lesser amount.
<br />Lender will keep the Funds in a savings or banking institution which has its deposits or accounts insured or
<br />guaranteed by a federal or state agency. If Lender is such an institution, Lender may hold the Funds. Lender
<br />will use the Funds to pay the Escrow Items. Lender will give Grantor, without charge, an annual accounting of
<br />Michael's Formal Wear Partners
<br />Nebraska Deed Of Trust
<br />NE/ 4sscanlan00505900003326055072301Y 01996 Bankers Systems, Inc., St. Cloud, MN E,�
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