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Loan No: 21615
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<br />2- 0 210 EY74
<br />DEED OF TRUST
<br />(Continued) Page 2
<br />hold harmless Lender against any and all claims and losses resulting from a breach of this paragraph of the Deed of
<br />Trust. This obligation to indemnify and defend shall survive the payment of the Indebtedness and the satisfaction
<br />of this Deed of Trust.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums
<br />secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the
<br />Real Property, or any interest in the Real Property. A "sale or transfer" means the conveyance of Real Property or any
<br />right, title or interest in the Real Property; whether legal, beneficial or equitable; whether voluntary or involuntary;
<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, except for the Existing Indebtedness referred to
<br />below, and except as otherwise provided in this Deed of 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 replacement 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 flood insurance, if available, within 45 days after notice is given by
<br />Lender that the Property is located in a special flood hazard area, for the maximum amount of Trustor's credit line
<br />and the full unpaid principal balance of any prior liens on the property securing the loan, up to the maximum policy
<br />limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such
<br />insurance for the term of the loan. Flood insurance may be purchased under the National Flood Insurance Program,
<br />from private insurers providing "private flood insurance" as defined by applicable federal flood insurance statutes
<br />and regulations, or from another flood insurance provider that is both acceptable to Lender in its sole discretion and
<br />permitted by applicable federal flood insurance statutes and regulations.
<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, (C) to make repairs to the
<br />Property or to comply with any obligation to maintain Existing Indebtedness in good standing as required below, then
<br />Lender may do so. If any action or proceeding is commenced that would materially affect Lender's interests in the
<br />Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender believes to be
<br />appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
<br />interest at the rate charged under the Credit Agreement from the date incurred or paid by Lender to the date of
<br />repayment by Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be
<br />payable on demand; (B) be added to the balance of the Credit Agreement and be apportioned among and be payable
<br />with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the
<br />remaining term of the Credit Agreement; or (C) be treated as a balloon payment which will be due and payable at the
<br />Credit Agreement'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 the
<br />Existing Indebtedness section below or in any title insurance policy, title report, or final title opinion issued in favor
<br />of, and accepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full right, power, and
<br />authority to execute and deliver this Deed of 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 />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an
<br />existing lien. Trustor expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness
<br />and to prevent any default on such indebtedness, any default under the instruments evidencing such indebtedness,
<br />or any default under any security documents for such indebtedness.
<br />EVENTS OF DEFAULT. Trustor will be in default under this Deed of Trust if any of the following happen: (A) Trustor
<br />commits fraud or makes a material misrepresentation at any time in connection with the Credit Agreement. This can
<br />include, for example, a false statement about Trustor's income, assets, liabilities, or any other aspects of Trustor's
<br />financial condition. (B) Trustor does not meet the repayment terms of the Credit Agreement. (C) Trustor's action or
<br />inaction adversely affects the collateral or Lender's rights in the collateral. This can include, for example, failure to
<br />maintain required insurance, waste or destructive use of the dwelling, failure to pay taxes, death of all persons liable on
<br />the account, transfer of title or sale of the dwelling, creation of a senior lien on the dwelling without Lender's
<br />permission, foreclosure by the holder of another lien, or the use of funds or the dwelling for prohibited purposes.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default under any indebtedness, or
<br />should Trustor fail to comply with any of Trustor's obligations under this Deed of Trust, Trustee or Lender may exercise
<br />any one or more of the following rights and remedies:
<br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Credit
<br />Agreement secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and
<br />payable and the same shall thereupon become due and payable without any presentment, demand, protest or
<br />notice of any kind. Thereafter, Lender may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver
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