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<br /> DEED OF TRUST 9 '� 10 '7 2 7 3 Page 3
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<br /> whether fee dtle to the leasehold premises,the Ieasehoid estate,or any subleasehold estate,will merge without Lenders express written consent;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 Grantor acquires all or a portion of the fee simple title, or any other leasehdd or
<br /> subleasehdd title to the Prope�ty, that title will, at Lender's option, immediately become subject to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver end record ell documents necessary or appropriate to assure that such title is secured by this Deed ot Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Granlor shall fulfill all of Grantor's obligations under any home rehabilitation,improvement,repair,or other
<br /> i 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 /> axeptable to Lender,an assignmeni of any righis,claims or defenses which Grantor may have against parties who supply Iabor,metenals or services
<br /> in connection with improvements made to the Property.
<br /> 7. DUE ON SALE-CONSENT BY LENDER. Lender may,at its option, have the nght 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 Lender's pnor written consent,of all or any paA 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 accelereHon Lender shall
<br /> give notice to Grantor. The notice shall provide a period of not less than ten(10)days trom the date of the notice within which Grantor mey pay the
<br /> sums declared due. If Grantor fails to pay those sums pnor to the expiratio�of such period,Lender may,without further notice or demand on Grantor,
<br /> invoke any remedies permitted in this Deed of Trust. A"sale or transfer" means the conveyance of Real Property or any right,title or interest therein;
<br /> whether legal or equitable;whether voluntary or involuntary;whether by outright sale,deed,installment sale contract,land contract,contract for deed,
<br /> leasehold interest with a term greater than thrce(3)years,lease-option contract,or by sale,assignment,or transfer of any beneficial interest in w to any
<br /> land trust 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 if such exercise is prohibited by federal law or by Nebraska law.
<br /> E. TRANSFER OF PROPERTY. The following provisions relating to the hansfer of the Real Property are a part of this Dced of Trust:
<br /> Notice ot Transfer. Grantor shall give notice to Lender,as provided in this Deed of Trust,prior to any sale or transfer of all or paA 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 After Transfer. All amounts advanced under the LOANLINER� Home Equity Plan 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 Lender more than five(5) days affer notice fo Lender, as provided in this Deed of Trust, that such transfer or sale hes occurred.
<br /> Even if Grantor transfers the Real Property,Grantor wilt continue to be obligated under the Credit Agreement and this Deed of Trust unless Lender
<br /> rele8ses 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 transfeRed sign an assumption agreemenl setisfactory to Lender and Lender may impose an
<br /> assumption fee. The assumption agreement will not enfitle 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 oi Trust.
<br /> Payment. Grantor shall pay when due(and in all events prior to delinquency)all taxes,special taxes,assessments,charges(induding water and
<br /> sewer), fines and imposltions levied against or on account of the Property, end shalt pay when due all claims for work done on or for services
<br /> rendered w 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 /> Rlpht 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 Properly is not jeopardized. If a Iien arises or is filed as a result of nonpayment,Grantor shell within fiiteen
<br /> (15)days afler the lien arises or,if a lien is filed,within fifteen(t5)days atter Grantor has notice of the filing, secure the discharpe 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 /> eny 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 /> Evfdence oi Payment. Grantor shal� upon demand furnish to Lender satisfaciory evidence of payment of the taxes or assessments and shall
<br /> authorize the appropriate governmental o(flcial to deliver to Lender at any time a written statement oi the taxes and assessments against the
<br /> Property.
<br /> Notice of Construction. Grantor shall notify Lender at least fiHeen (15)days before any work is commenced,any servic�s 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 request 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 pa�t of this Deed of Trust.
<br /> MdntenanCe of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverape 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 of Lender, together with such other hazard and liability i�urance 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 and is evailable. Polides
<br /> shell be written 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 certificates of insurence in form
<br /> satisfactory to Lender,inc�uding stipulations that coverages will not be Cancelled or diminished without at Ieast ten(10)days'prior written notice to
<br /> Lender. -•
<br /> Apptication of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property if the estimated cost of repair w
<br /> replacement exceeds 510,000.00. Lender may make proof of loss if Grantor fails to do so within fifleen (15)days oi the casualty. If,in Lender's
<br /> judgment, the restoration or repair is economica'lly teasible and Lender's security is not lessened, insurar�ce p�ooeeds shall be applied to
<br /> restoration or repair oi the damaged Property. It the restoration or repair is not economically feasible or Lenders seCUrity 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 paid to Grantor. If
<br /> Grantor abandons the Property,or does not answer within thirty(30) days a notice trom Lender that the insurance cartier has offered to settle a
<br /> claim,then Lender may collect the insurance procc�eds. 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 atter payment in full of the Indebtedness,such proceeds shell be paid
<br /> to Grentor as Greniors interests may appear.
<br /> Unexplred 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 provisions of this Deed of Trust, or at any foreclosure sale of such PropeAy.
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