|
202100224
<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. WARRANTIES AND REPRESENTATIONS. Grantor has the right and authority to enter into
<br />this Security Instrument. The execution and delivery of this Security Instrument will not violate
<br />any agreement governing Grantor or to which Grantor is a party.
<br />11. 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 />12. 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 />the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps
<br />necessary to protect Lender's security interest in the Property, including completion of the
<br />construction.
<br />13. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably assigns, grants, conveys to
<br />Lender as additional security all the right, title and interest in the following (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal
<br />agreements for the use and occupancy of the Property, including but not limited to any
<br />extensions, renewals, modifications or replacements (Leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents,
<br />percentage rents, additional rents, common area maintenance charges, parking charges, real
<br />estate taxes, other applicable taxes, insurance premium contributions, liquidated damages
<br />following default, cancellation premiums, "loss of rents" insurance, guest receipts, revenues,
<br />royalties, proceeds, bonuses, accounts, contract rights, general intangibles, and all rights
<br />and claims which Grantor may have that in any way pertain to or are on account of the use
<br />or occupancy of the whole or any part of the Property (Rents).
<br />In the event any item listed as Leases or Rents is determined to be personal property, this
<br />Assignment will also be regarded as a security agreement. Grantor will promptly provide Lender
<br />with copies of the Leases and will certify these Leases are true and correct copies. The
<br />existing Leases will be provided on execution of the Assignment, and all future Leases and any
<br />other information with respect to these Leases will be provided immediately after they are
<br />executed. Grantor may collect, receive, enjoy and use the Rents so long as Grantor is not in
<br />default. Grantor will not collect in advance any Rents due in future lease periods, unless
<br />Grantor first obtains Lender's written consent. Upon default, Grantor will receive any Rents in
<br />trust for Lender and Grantor will not commingle the Rents with any other funds. When Lender
<br />so directs, Grantor will endorse and deliver any payments of Rents from the Property to Lender.
<br />Amounts collected will be applied at Lender's discretion to the Secured Debts, the costs of
<br />RODNEY E. PETERSON
<br />Nebraska Deed Of Trust
<br />NE/4XWOOLERY00000000002375023N Wolters Kluwer Financial Services ®1996, 2020 Bankers Page 3
<br />SystemsTM
<br />
|