|
0�-15-1999 DEED OF TRUST Page 2
<br /> Loan No 984419 �y 1 p � �, p 9 (Continued)
<br /> Note. The word °Note^ means the No1e dated Jury 15, �9s9, in the principai amount of �30,000.00 from Trustor to Lender,
<br /> together with all renewals, extensions, modifications, refinancings, and substitutions for the Note. The maturity date of this Deed of Trust is
<br /> January 15,2000.
<br /> Peraonal Property. The words "Personal Property" mean ali equipment, fixtures, and other articl� of personal property now or hereafter
<br /> owned by Trustor, and now or hereafter attached or afflxed to the Real Property; together with all accessfons, parfs, and additions to, all
<br /> replacements of, and all substitutions for, any of such property; and logether with all proceeds (including without limitation all insurance
<br /> proceeds and refunds of premiums)from any sale or other disposition of the Property.
<br /> Property. The word"Property"means collectively the Real Property and the Personal Property.
<br /> Real Property. The words"Real Property"mean the property,interests and rights descri6ed above in the"Conveyance and Grant"section.
<br /> Related Documents. The words "Related Documents" mean and include without limitation alt promissory notes, credit agreements, Ioan
<br /> agreements,environmental agreements,guaranties,securiiy agreements,mortgages,deeds of trust,and all other instruments,agreements and
<br /> documents,whether now or hereafter existing,executed in connection with the Indebtedness.
<br /> Rents. The word"Rents"means all present and future rents, revenues, income, issues,royalties, profits, and other benefits derived from the
<br /> Property.
<br /> Trustee. The word'Trustee"means UNITED NEBRASKA BANK and any substitute or successor trustees.
<br /> Trusior. The word"Trustor"means any and all persons and entities executing this Deed of Trust,including without limitation all Trustors named
<br /> above.
<br /> THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND TFIE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br /> PROPERTY, IS GIVEN TO SECURE (1)PAYMENT OF THE INDEBTEDNESS AND (2)PERFORMANCE OF ANY AND�OBLIGATIONS OF
<br /> TRUSTOR UNDER THE NOTE,THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS EN A�p"1►CCH4��ED
<br /> ON THE FOLLOWING TERMS: � '
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust,Trustor shall pay to Lender all amounis secured by this Deed
<br /> of Trust as they become due,and shall stricfly and in a timely manner perform all of Trustor's obligations under the Note,this Deed of Trust,and the
<br /> Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor'S possession and use of the Property shall be governed by
<br /> the following provisions:
<br /> Possession and Use. Until the occurrence of an Event of Defauli,Trustor may (a)remain in possession and control of the Property, (b) use,
<br /> operate or manage the Property,and (c)collect any Rents from the Property.
<br /> Duty to Malntain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs,replacements,and maintenance
<br /> necessary to preserve its value.
<br /> Hazardoua Substances. The terms"hazardous waste""hazardous substance,""disposal,""release,"and"threatened release,"as used in this
<br /> Deed of Trust, shall have the same meanings as set forth in the Comprehenslve Environmental Response, Compensation, and Liability Act of
<br /> t980, as amended, 42 U.S.C. Section 9601, et seq. ("CEHCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No.
<br /> 99-499("SARA"), the Hazardous Materials Transportation Act,49 U.S.C. Section 1801,et seq.,the Resource Conservation and Recovery Act,
<br /> 42 U.S.C. Section 6901,et seq., or other applicable state or Federal Iaws,rules,or regulatlons adopted pursuant to any of the foregoing. The
<br /> terms"hazardous waste"and"hazardous substance"shall also include,without limitation,petroleum and petroleum by-products or any fraction
<br /> thereof and asbestos. Trustor represents and wanants to Lender that: (a)During the period of Trustor's ownership of the Property,there has
<br /> been no use,generation,manufacture,storage,treatment,disposal,release or threatened release of any hazardous waste or substance by any
<br /> person on, under,about or from the Property; (b)Trustor has no knowledge of,or reason to believe that there has been,except as previously
<br /> disclosed to and acknowledged by Lender in writing, (i)any use,generation,manufacture,storage,treatment,disposal,release,or threatened
<br /> release of any hazardous waste or substance on,under,about or from the Property by any prior owners or occupants of the Property or (ii)any
<br /> actual or threatened litigation or claims of any kind by any person relaHng to such matters; and (c) Except as previously disclosed to and
<br /> acknowledged by Lender in writing, (i) neithe�Trustor nor any tenant, contractor, agent or othe�authorized user of the Property shall use,
<br /> generate,manufacture,store,treat,dispose of,or release any hazardous waste or substance on, under,about or from the Property and (ii)any
<br /> such activity shall be conducted in compliance with all applicable federal,state,and locai laws, regulations and ordinances, including without
<br /> limitation those laws, regulations, and ordinances described above. Trustor authorizes Lender and its agents to enter upon the Property to
<br /> make such inspections and tests, at Trustor's expense, as Lender may deem approprfete to determine compliance of the Property with this
<br /> section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes oniy and shall not be construed to create
<br /> any responsibility or Iiability on the part of Lender to Trustor or to any other person. The representatlons and warranties contained herein are
<br /> based on Trustors due diligence in investigating the Property for hazardous waste and hazardous substances. Trustor hereby (a)releases and
<br /> waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under any
<br /> such laws, and (b) agrees to indemniry and hold harmless Lender against any and all claims, losses, liabilities, damages, penaltles, and
<br /> expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a
<br /> consequence of any use,generation, manufacture,storage, disposal,release or threatened release of a hazardous waste or substance on the
<br /> properties. The provisions of this section of the Deed of Trust, including the obligatlon to indemnify, shall survive the payment of the
<br /> Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by lender's acquisidon of any
<br /> interest in the Property,whether by foreclosure or otherwise.
<br /> Nuisance,Waste. Trustor shall not cause,conduct or permit any nuisance nor commit,permit,or suffer any stripping of or waste on or to the
<br /> Property or any portion of the Property. Without limiting the generality of the foregoing,Trustor will not remove,or grant to any other party the
<br /> right to remove,any timber,minerals(including oil and gas),soil,gravel or rock products without the prior written consent of Lender.
<br /> Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without the prior written consent
<br /> of Lender. As a condition to the removal of any Improvements, Lender may require Trustor to make anangements satlsfactory to Lender to
<br /> replace such Improvements with Improvements of at least equal value.
<br /> Lender's Right to Enter. lender and its agents and representatives may enter upon the Real Property at all reasonable times to attend to
<br /> Lender's interests and to inspect the Property for purposes of Trustor's compliance wilh the terms and conditions of this Deed of Trust.
<br /> Compliance with Governmental Requirements. Trustor shall promptly comply with all Iaws, ordinances,and regulations, now or herea(ter in
<br /> effect, of all governmental authorities applicable to the use or occupancy of the Properfy, including without limitation, the Americans With
<br /> Disabilities Act. Trustor may coniest in good faith any such law, ordinance, or �egulation and withhold compliance during any proceeding,
<br /> including appropriate appeals, so long as Trustor has notifled Lender in writi�g prior to doing so and so long as, in Lender's sole opinion,
<br /> Lender's i�terests in the Property are not jeopardized. Lender may require Trustor to post adequate security or a surety bond, reasonably
<br /> satisfactory to Lender,to protect Lender's interest.
<br /> Duty to Protect. Trustor agrees neither to abandon nor leave unattended the Properiy. Trustw shali do all other acts,in addition to those acts
<br /> set forth above in this section,which irom the character and use of the Property are reasonably necessary to protect and preserve the Property.
<br /> DUE ON SALE-CONSENT BY LENDER. Lender may,at its option,declare immediately due and payable all sums secured by this Deed of Trust
<br /> upon the sale or transfer,without the Lendar's prior written consent, of all or any p8rt of the Real Properfy, or any interest in the Real Property. A
<br /> "sale or transfe�'means the conveyance of Real Property or any right,fitle or interest therein;whether legal,bene8cfal or equitable;whether voluntary
<br /> or involuntary;wpather by oUtright sale,deed, installment sale conhact,land contract,contract for deed,leasehold interest with a term greater than
<br /> three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real
<br /> Property, or by any other method of conveyance of Real Property interest. If any Trustor is a corporation,partnership or limited liability company,
<br /> transfer also includes any change in ownership of more than twenty-five percent (25%) of the voting stock, partnership interests or limited liability
<br /> company interests, as the case may be, of Trustor. However, this option shall not be exercised by Lender if such exercise is prohibited by federal
<br /> law or by Nebraska law.
<br /> TAXES AND LIENS. The foilowing provisions reiating to the texes and liens on the Property are a part of this Deed of Trust.
<br /> Payment. Trustor shall pay when due (and in all events prior to detinquency)all taxes,special taxes, assessments, charges(including water
<br /> and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for
<br /> senrices rendered or material furnished to the Property. Trustor shall maintain the Property f�ee of ail liens having priority over or equal to the
<br /> interest of Lender under this Deed of Trust,except for the lien of taxes and assessments not due and except as otherwise provided in this Deed
<br /> of Trust.
<br /> Rfyht To Contest. Trusior may withhold payme�t of any tax,assessment,or claim in connectfon with a good faith dispute over the obligatlon
<br /> � ,
<br />
|