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99- i�;�a��ss
<br /> DEED OF TRUST Page 3
<br /> (Continued)
<br /> whether fee title to the leasehold premises,the Ieasehoid estafe,or any subleasehold estate,wiil merge without Lender's express written consent;rather
<br /> these estetes will remain separate and distinct, even if there is a union of these estates in the landlord, Grantor, or a third party who purchases or
<br /> oiherwise acquires the estates. Grantor further agrees that if Grantor acquires all or a portion of the fee simple title, or any other leasehold or
<br /> subleesehdd tiHe to the Property, that title will, at Lender's option, immediat�y become subject to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver and record all documents necessary or appropriate to assure that such title is secured by this Deed of Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Grantor shatl fulfill all of Carantor's obligations under any home rehabilitation,improvement,repair,or other
<br /> loan apreement which Grantor may enter into with Lender. lender,at Lender's option,may require Grantor to execute and deliver to Lender,in a form
<br /> ea;eptable to Lender,an assignment of any nghts,claims or defenses which Grantor may have against parties who supply labor,materials or services
<br /> in connection with improvements made to the Property.
<br /> 7. DUE ON SALE—CONSENT BY�ENDER. Lender may,at its option, have the righf to accelerate,that is, declare immediately due and payabfe all
<br /> sums secured by this Deed of Trust upon the sale or transfer,without the Lender's prior written consent,of all or any part of the Reel Prope�iy,or any
<br /> inferest in the Real Property. If Grantor sells or transfers the Real Property without the written consent of Lender,then,prior to ecceleretion Lender shall
<br /> give notice to Grantor. The notice shall provide a period of not less than ten(10)days hom the date of the notice within which Grantor may pay the
<br /> sums declared due. If Grantor fails to pay those sums prior to the expiration of such period,Lender may,without turther notice or demand on Grantor,
<br /> invoke any remedies permitted in this Deed of Trust. A"sale or transfe�'means the conveyance of Real Property or any right,title or interest therein;
<br /> whether legal or equitable;whether voluntary or involuntary;whether by oufight sale, deed,installment sale contract,land contract,contract for deed,
<br /> leasehdd interest with a ferm greater than three(3)years,lease-option contract,or by 5ale,assignment,or transfer of any beneficial interest in or to any
<br /> land hust holding title to the Real Property,or by any other method of conveyance of Real Property interest. However,this option shall not be exercised
<br /> by Lender ff such exercise is prohibited by federal law or by Nebraska law.
<br /> 8. TRANSFER OF PROPERTY. The following provisions relatlng to the hansfer of the Real Property are a paR of this Deed of Trust:
<br /> Notice of Transfer. Grantor shafl give notice to Lender,as provided in this Deed of Trust,prior to any sale or transfer of all or part of the Property
<br /> or any rights in the Real Property. Any person to whom all or part oi the Real Property is sold or transferred also shall be obligated to give notice
<br /> to Lender,as provided in this Deed of Trust,promptly after such transfer.
<br /> AdvanCes After Tronsfer. All amounts advanced under the LOANLINER� Home Equity Plan Credit Agreement, up to the Gedit Limit, are
<br /> seCUred by this Deed of Trust, whether advanced before or after sale or transfer of the Real Property, except any amounis which may be
<br /> advanced by Lender more than five(5) days after notice to Lender,as provided in this Deed of Trust, that such transfer or sale hes occurred.
<br /> Even if Grantor trensfers the Real Property,Grantor wilt continue to be obligated under the Credit Agreement and this Deed of Trust unless Lender
<br /> releases Grantor in writing. As a condition to Lender's consent to any proposed transfer or as a condition to the release of Grantor,Lender may
<br /> require that the person to whom the Real Property is transferred sign an assumption agreemeni satisfactory to Lender and Lender may impose an
<br /> assumpdon fee. The assumption agreement will not entitle the person signing it to receive advances under the Credit Agreement.
<br /> 9. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are a part of this Deed of Trust.
<br /> Payment. Grantor shell pay when due(and in all events prior to delinquency)all taxes,special taxes,assessments,charges(including water and
<br /> sewer), fines and impositions levied against w on account of the Property, and shall pay when due all claims for work done on or for services
<br /> rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal to the interest of
<br /> Lender under this Deed of Trust,except for the lien of taxes and assessments not due,except for the existing indebtedness referced to below,and
<br /> except as otherwise provided in this Deed of Trust.
<br /> Rlyht To Contest. Grantor may withhold payment of any tax,assessment,or claim in connection with a good faith dispute over tfie obligation to
<br /> pay,so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,Grantor shatl within fifteen
<br /> (15)deys aHer the lien arises or,if a lien is filed,within fifteen(15)days after Grantor has notice of the filing, seCUre the discharge of the lien,or if
<br /> requested by Lender,deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient
<br /> to discharge the lien plus any costs and attorneys'fees or other charges that could accrue as a result of a foreclosure or sale under the lien. In
<br /> any contest,Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shalt
<br /> neme Lender as an additionsl obligee under any surety bond furnished in the contest proceedings.
<br /> EvWence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessmenis and shall
<br /> authorize the appropriate governmentel official to deliver to Lender at any time a written statement of the taxes and assessments against the
<br /> Property.
<br /> NotlCe of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced,any services are fumished,or any
<br /> materials are supplied to the Property,if any mechaniC's lien, materiatmen's lien,or other lien could be asserted on account of the worlc,services,
<br /> or materials and the cost exceeds 510,000.00. Grantor will upon request of Lender furnish to Lender advance assurances satistactory to Lender
<br /> thst Grantor can 8nd will pey the Cost of such improvements.
<br /> 10. PROPERTY INSURANCE The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br /> Malntenance of Insuronce. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a
<br /> replacement basis for the futl insurable value covering all Improvements on the Real Property in an amount sufficient to avad application of any
<br /> coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such other hazard and liability insurance as Lender
<br /> may reasonably require. If the Real Property is located in an area designated by the Director of the Federal Emergency Manegement Agency as a
<br /> special flood hezard area, Grantor agrees to obtain Federal Flood Insurance to the extent such insurance is required and is availeble. Pdicies
<br /> shall be written in form, amounts, coverages and basis reasonebly acceptable to Lender and issued by a company or companies reasonably
<br /> 8cceptable to Lender. Grantor, upon request of Lender, will deliver to Lender hom time to time 1he poticies or certificates of insurance in form
<br /> Satisfactory to Lender,including stipulations that coverages will not be cancelled or diminished without at least ten(10)days'prior written notice to
<br /> Lender.
<br /> ApplfCation of Proceeds. Grantor shall promptly notify �ender of any loss or damage to the Property if the estimated cost of repair or
<br /> replacement exceeds 510,000.00. Lender may make proof of loss if Grantor fails to do so within fifleen (15)days of the casualty. If,in Lendet's
<br /> judgment, the restoretion or repair is economically feasible and Lenders secunty is not lessened, insurance proc�eds shall be applied to
<br /> restoration or repair of the damaged Property. If the restoration or repair is not economically feasible or Lender's 5ecurity would be lessened,the
<br /> insuranCe proceeds shall be applied to the sums seCUred by this Oeed of Trust whether or not then due, with any excess paid to Grantor. If
<br /> Grantor abandons the Property,or does not answer within thirfy(30) days a notice from Lender that the insurance carrier has oliered to settle a
<br /> claim,then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by
<br /> this Deed of Trust,whether or not then due. If Lender holds any proceeds after payment in full of the Indebtedness,such proceeds shell be paid
<br /> to Grantor as Grantor's interests may appear.
<br /> Unexpired Insurance at Sale. Any unexpired insurance shall inure to the benefit of, and pass to, the purchaser of the Property covered by this
<br /> Deed of Trust at any trustee's sale or other sale held under the prov�s�ons of th�s Deed of Trust,or at any foreclosure sale of such Property.
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