|
200400033
<br />I. Upon Lender's request and at any time, Grantor agrees, at Grantor's expense, to engage a qualified
<br />environmental engineer to prepare an environmental audit of the Property and to subn-ret 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, (11
<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 Security 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 />19. 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 />20. 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. What Lender requires pursuant to the preceding two
<br />sentences can change during the term of the Secured Debts. Grantor may choose the insurance company,
<br />subject to 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 />21. ESCROW FOR TAXES AND INSURANCE. Grantor will not be required to pay to Lender funds for taxes and
<br />insurance in escrow.
<br />22. CO- SIGNERS. If Grantor signs this Security Instrument but does not sign the Secured Debts, Grantor does
<br />so only to convey Grantor's interest in the Property to secure payment of the Secured Debts and Grantor does
<br />not agree to be personally liable on the Secured Debts. If this Security Instrument secures a guaranty between
<br />Lender and Grantor, Grantor agrees to waive any rights that may prevent Lender from bringing any action or
<br />claim against Grantor or any party indebted under the obligation. These rights may include, but are not limited
<br />to, any anti - deficiency or one - action laws.
<br />23. SUCCESSOR TRUSTEE. Lender, at Lender's option, may from time to time remove Trustee and appoint a
<br />successor without any other formality than the designation in writing. The successor trustee, without
<br />conveyance of the Property, will succeed to all the title, power and duties conferred upon Trustee by this
<br />Security Instrument and applicable law.
<br />24. APPLICABLE LAW. This Security Instrument is governed by the laws of Nebraska, except to the extent
<br />otherwise required by the laws of the jurisdiction where the Property is located, and the United States of
<br />America.
<br />25. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Grantor's obligations under this Security
<br />Instrument are independent of the obligations of any other Grantor. Lender may sue each Grantor individually or
<br />together with any other Grantor. Lender may release any part of the Property and Grantor will still be obligated
<br />under this Security Instrument for the remaining Property. The duties and benefits of this Security Instrument
<br />will bind and benefit the successors and assigns of Lender and Grantor.
<br />26. AMENDMENT, INTEGRATION AND SEVERABILITY. This Security Instrument may not be amended or
<br />modified by oral agreement. No amendment or modification of this Security Instrument is effective unless made
<br />in writing and executed by Grantor and Lender. This Security Instrument is the complete and final expression of
<br />the agreement. If any provision of this Security Instrument is unenforceable, then the unenforceable provision
<br />will be severed and the remaining provisions will still be enforceable.
<br />27. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular. The
<br />section headings are for convenience only and are not to be used to interpret or define the terms of this
<br />Security Instrument.
<br />28. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any
<br />notice will be given by delivering it or mailing it by first class mail to the appropriate party's address listed in the
<br />RSI, Inc.
<br />Nebraska Deed Of Trust Initials
<br />NE/ 4XX28333000704400004160019123103Y °1996 Bankers Systems, Inc., St. Cloud, MN Fx Page 5
<br />t
<br />
|