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. . . <br /> DEED OF TRUST i ������4991 page 3 <br /> (Continued) <br /> whether fe9 tiUe to the teasehold premises,the leasehold estate,or any subleasehold estate,will merge without Lenders express written consenh rather <br /> these estates 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 /> otherwise acquires the estates. Grantor further agrees that if Granlor acquires all or a po�tion of the fee simple title, or any other leasehdd or <br /> subleasehdd tide to the Property, that Htle will, at l.ender'S option, immediately 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 shall fulfill all of Grantors obligations under any home rehabililation,improvement,repair,or other <br /> loan agreement which Grantor may enter into with Lender. Lender,at Lenders option, may rbquire Grantor to execute and deliver to Lender,in a form <br /> acceptable to Lender,an assignment of any nghts,claims o�defenses which Grantor may have against parties who supply Iabo�,matenals or services <br /> in connection with improvements made to the Property. <br /> 7. DUE ON SALE—CONSENT BY LENDEA. L�nder 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 Lenders prior written consent,of all or any part of the Real Property,or any <br /> interest in the Real Property. If Grantor sells or transfers the Real Property without the written consent of Lender,then,prior to e�ation Lender shall <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�rantor fails to pay those sums prior to the expiration of such penod,Lender may,without fu�ther 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,tirie or interes! therein; <br /> whether legal or equitable;whether voluntary or involuntary;whether by outnght sale, deed,installment sale contract,Iand contract,co�tract for deed, <br /> leasehdd interest with a term greater than three(3)years,�eas�oPtion contract,or by sate,assignment,or transfer of any beneficial interest in or to any <br /> land trust holding title to the Real Property,or by any other method of conveyance of Resl Property interest. However,this opHon shall not be exercised <br /> by Lender if such exercise is prohibited by federal law or by Nebraska law. <br /> i. TRANSFER OF PROPERTY. The following provisions relating to the transfer of the Real Property are a part of this Deed of Trusi: <br /> NotlCe of Tronster. Grantor shall give notice to Lender,as provided in this Deed of Trust,pnor to any sale or transfer of all or part of the Properry <br /> or any rights in ihe Real Property. Any person to whom afl 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 aRer such transfer. <br /> Advances After Tronsfer. All amounts advanced under the LOANLINER� Home Equity Ptan Credit Agreement, up to the Gedit Limit, are <br /> secured by this Oeed of Trust, whether advanced before or affer sale or transfer of the Real Property, except any amounts which may be <br /> advanced by Lender more than five (5) days affer notice to Lender, as provided in this Deed of Trust, that such hansfer or sale hes 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 Lender <br /> releases Grantor in writing. As a condition to Lenders 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 agreement satisfactory to Lender and Lender may impose an <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 provisions relating to the taxes and liens on the Property are a part of this Oeed of Trust. <br /> Payment. Grentor shall pay when due(and in all events prior to delinquency)all taxes,special taxes,assessments,charqes(including water and <br /> sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for wortc 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 referred to below,and <br /> except as otherwise provided in this Deed of Trust. <br /> Rlqht To Contest. Grantor may withhold payment of any tax,assessment,or claim in connection with a good faith dispute over the obligation to <br /> pay,so long as Lender's interest in the Property is not jeopardized. If a Iien anses or is filed as a result of nonpayment,Grantor shall within frft2en <br /> (15)days after the lien 8rises or,if a lien is filed,within fifteen(15)days after Grantor has notice of the filing, secu�e 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 shall <br /> name Lender as an additional 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 tanes or assessments and shall <br /> authorize the appropriate governmental official to deliver to Lender at any time a wntten statement of the ta�ces and assessments against the <br /> Property. <br /> Notice of Constructlon. 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, materialmen's lien, or other lien Could be asserted on account of the woric,services, <br /> or materials and the cost exceeds 510.000.00. Grantor will upon requesi of Lender furnish to Lender advance assurances satisfactory to Lender <br /> that Grantor can and will pay 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 Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a <br /> replacement 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 mortgagee clause in favor ot Lender, together with such other hazard and fiability insurance as Lender <br /> may reasonably require. If the Real Property is located in an area designated by the Director of the Federal Emergency Management Agency as a <br /> special flood hazard area, Grantor agrees to obtain Federal Flood Insurance to the extent such insurance is required end is available. Pdicies <br /> shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonebly <br /> acceptable to Lender. Caranfar, upon request of�ender, will deliver to Lender from time to time the policies 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 /> AppllCatlon of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property if the estimeted cost of repa�r o� <br /> replacement exceeds 510,000.00• Lsnder may make proof of loss if Grantor fails to do so within fifteen (15)days of the casua�ty If,in Lenders <br /> judgment, the restoration or repair is economically feasible and Lenders security is not lessened, insurance proceeds shall be apD��ed to <br /> restoration or repair of the damaged Property. lt the restoration or repair is not economically feasible or Lender's secunty would be lessened,the <br /> insurance proceeds shall be applied to the sums secured by this Deed of Trust whether or not then due, with any excess pa�d to Grantor. If <br /> Grantor abandons the Property, or does not answer within thirty(30) days a notice from lender that the insurance cartier has oNered to setUe a <br /> daim,then Lender may collect the insurance prxeeds. 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. It Lender holds any proceeds after payment in full of the Indebtedness,suc�proceeds shall be paid <br /> to Grantor as Grantors interests may appear. <br /> Unexpfred I�surance at Sale. Any unexpired insurance shall inure to the benefit of, and pass to. the purchaser of the Prooerty covered by this <br /> Deed of Trust at any trustee's sa�e or other sale held under the provisions of th�s DeeC of Trust, or at anv foreclosure saie of such Property. <br />