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<br /> DEED OF TRUST ,� 99`�.t��9�� Page 3
<br /> (Continued)
<br /> whethe�fee titia to the leasehold premises,the leasehoid estate,or any subieasehold estate,will merge without Lenders express W�`eho pur�cht�ases or
<br /> these estates will remain separate and distinct, even if there is a u�ion of these estates in the landlord, Grantor, or a third arty
<br /> otherwise acquires the estates• Grantor further agrees that if Grantor acquires alt or a portion ot the fee simple title, or any other leasehoid or
<br /> subleesehdd titte to the Property, that title will, at Lender's option, immediately become subject to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver and record ali documents necessary or appropriate to assure that such titte is secured by this Deed of Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Grantor shall fulfili all of Grantor's obligations under any home rehabilitation,improvement,repair,or other
<br /> loan agreement which Grantor may enter into with Lender. Lender,at Lender's option, may require Grantor to ezecute and deliver to Lender,in a form
<br /> acceptable to Lender, an assignment of any rights,claims or defenses which Grantor may have against parties'+vho supply labor, mateneis or serv�ces
<br /> in connection with improvements made to the Properry•
<br /> 7. DUE ON SALE—CONSENT BY LENDEA. Lender may, at its option, have the right to accelerate, that is, declare immediately due and payable all
<br /> sums secured by this Deed of Trust upon the sale or transfer, without the W8 hout the wntten consen ofiLendier,then,pnor�o eccelera on�L ender sha I
<br /> interest in the Real Property. If Grantor sells or transfers the Real Property
<br /> give notice to Grantor. The notice shall provide a penod of not less than ten (10) days from the date of the notice within which Grantor may pay the
<br /> sums decfared due. If Grantor fails to pay those sums prior to the expiration of such period.Lender may,without further nOtice or demand on Grantor,
<br /> invoke any remedies permitted in thls Deed of Trust. A "sale or transfe�' means the conveyance of Real Prcpert}r or any right, tirie or interest therein;
<br /> whether legal or equitable:whether voluntary or invopi�unsa'ry�,5e.he-0tper�bcontrat tor by sa�ass+gn�me tt o itransfer of alny beneficialtinterestCn for to�Y
<br /> leasehold interest with a term greater than three(3)y
<br /> land trust holding title to the Real �roperty, or bY any othe�method of conveyance of Reai Property interest. Howeve�,this op6on shall not be exercised
<br /> by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br /> 8. TRANSFER OF PROPERTY. The following provisions re�ating to the trsnsfer of the Real Property are a part of this Deed of Trust:
<br /> Notict of Transter. Grantor shali give notice to Lender,as provided in this Deed of Trust, prior to any sale or transfer ot all or part of the Property
<br /> or any rights in the Real Property. Any person to whom all or part of 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 Atter Transfer. Ali amounts advanced under the LOANLINER� Home Equity Ptan Credit Agreement, up to the Credit 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 �ender more than five (5) days after notice to Lender, as provided in this Deed of Trust, that such transfer or saie has oCCUrred.
<br /> Even if Grantor transfers the Real Property,Grantor will continue to be obligated under the Credit Agreement and this Deed of Trust unless L.ender
<br /> releases Grantw 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 wt�om the Real Property is transferred sign an assumption agreement satisfactory to Lender and�ender maY imPose en
<br /> assumption 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 prowsions relating to the taxes and liens on the Property are a part of this Deed of 7rust.
<br /> Payment. Grantor shall pay when due(and in all events prior to delinquency)all taxes,special ta�ces,assessments,charges(including water and
<br /> sewer), fines and impositions lev�ea against or on account of the Property, and shall pay when due all claims for work done on or for services
<br /> rendered or material furni5hed to the Property• Grantor shall maintain the Property free cf 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,2xcept for the existing indebtedness referred to below,and
<br /> except as otherwise provided in this Deed of Trust.
<br /> Riyht To Co�test. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obliga6on to
<br /> pay,so long as Lender's interest In the Property is not jeopardized. If a iien anses or�s filed as a result of nonpayment,Grantor shall within frfteen
<br /> (15)days after the lien arises or,if a lien is filed, within fifteen (t5)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 sufflcient corporate surery bond or other security satisfactory to Lender in an amount sufficient
<br /> to discharge the tien plus any costs and attorneys' fees or other charges that could accrue as a resuit of a foreclosure or sale und Grantor shall
<br /> any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property.
<br /> name Lender as an additionel obligee under any surety bond furnished in the contest proceedings.
<br /> Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
<br /> authorize the appropriate govsrnmenial officiai to deliver to Lender at any tlme a wntten statement of the taxes and assessments against the
<br /> Property.
<br /> Notice of Constructlon. Grantor shall notify Lender at least fifteen (t5j days betore any work is commenced, any services are tumished,or any
<br /> materials are supp�ied to the Property, if any mechanic's lien, materiaimen's lien, or other lien could be asseRed on account of the work,serv�ces.
<br /> or materiats and the cost exceeds E10,000.00. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender
<br /> that Grantor can and will pay the cost of such improvements.
<br /> t0. PROPERTY INSURANCE The totlowing provisions relating to insunng 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 /> reQlaceme�t basis for the full 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 mo�tgagee clause in favor of Lender, together with such other hazard and liability insurance as Lender
<br /> may reasonably require. If fhe Real Property is located in an area Cesignated by the Cirector of the Federal Emergency Management Agency as a
<br /> special flood hazard area. Grantor agrees to obtain Federal Flood Insurance to the ezteni such insurance is required and is available. Policies
<br /> shau be wntten in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably
<br /> acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or ce�tificates on«��n notiCe o
<br /> satisfactory to Lender,including stipulations that coverages will not be cancelled or dim�nished without at least ten(10)days'D
<br /> Lender.
<br /> Appllcatlon of Proceeds. Grantor shall promptly notify lender of any loss or damage to the Prcperty if the estimated cast of repair or
<br /> replacement exceeds 510,000.00_ Lender may make proof of loss if Grantor fails to do so within fiffeen (15) day5 of the casua�ty- If,in Le'n�d��5
<br /> judgment, the restoration or repair is eCOnomically feasible and Lender's seCUnty is not lessened, insuranCe proCeeds sha�� be aPP
<br /> restoration or repair of the damaged Property. If the restoration or repair is not economically feasible or Lender's security would be lessened, the
<br /> insurance proceeds shatl be applied to the sums secured by this Deed of Trust whether or not then due, with any excess paid to Grantor. If
<br /> Grantor abandons the Property, or does not answer within thirty (30) days a notice from Lender that the insurance carrier nes o�9d to SetUe a
<br /> ciaim,then Lender may collect the irtsurance proceeds. Lender may use the proceeds to repa�r or restore the Property or to pay sums secured by
<br /> this Deed ot TruSt,whether w not then due. If Lender holds any prxeeds after payment in full of the Indebtedness,5uch proceeds shall be paid
<br /> to Grantor as Grantors interesfs may apPear.
<br /> t►nexoired Insura�ce nt Sale. Any unexpired �nsurance S�all inure to ?he benefit of, and pass to. the Durchaser of the Property covered by this
<br /> . .. _ . ,T -• -- -. ,.,,.,a.,,,,,.�.,���.o<nic nt ci�rn Prnc�w7v.
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