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<br /> DEED OF TRUST ' � 9 9 �0 7`4 :�2 Page 3
<br /> (Continued)
<br /> whether fee title to the leasehold premises,the leasehold 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 oi these estates in the Iandlord, 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 leasehold or
<br /> subleasehdd title to the Property, that title will, at Lender'S option, immedietely beCOme subjeCt to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver and record ell documenis nec�ssery or appropriate to assure that such title is secured by this Deed of Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Grantor shall fulfill all oi Grantor's obligations under any home rehabilitation,improvement,repair,or other
<br /> Ioan agreement 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 /> acoepfable to Lender,an assignment of any rights,claims or defenses which Grantor mey have against parties who supply Iabor, materials 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 right to accelerate,that is, declare immediately due and payable ell
<br /> sums secured by this Deed of Trust upon the sale or transfer,without the Lender's prior written consent, of all or any paA of the Real Properly,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 acc�leretion Lender shall
<br /> give notiCe to Grantor. The notice shall provide a period of not less than ten (10)days from the date oi the notice within which Grantor mey pay the
<br /> sums declared due. If Grantor fails to pay those sums pnor to the expiration of such period,Lender may,without fuRher 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 tegel or equitable;whether voluntary or involuntary;whether by outright sale, deed,instellment sale contrect,land contract,contraCt for deed,
<br /> leasehdd interest with a term greater than three(3)years,lease--option contract,or by sale,assignment,or transfer of any beneficial inte►est in or to any
<br /> land trust hdding title to the Real Property,or by any other method oi conveyance of Real Property interest. However,this opfion shall not be exercised
<br /> by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br /> a. TRANSFER OF PROPERTY. The fotlowing provisions relating to the transfer of the Real Property are a part of this Deed of Trust:
<br /> Notice of Transfer. Grantor shall 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 paR 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 /> AdvenCes After Transfer. 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 aNer notice to Lender,as provided in this Deed of Trust, that such trensfer or sale has occurred.
<br /> Even if Grantor transfers the Real Property,Grantor will continue to be obligated under the Credit Agreement and this Deed oi 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 oi Grantor,Lender may
<br /> require that the person to whom the Real Property is transfeRed sign an assumption agreement satisfaclory 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 parl of this Deed�f Trust.
<br /> Peyment. Grantor shell pay when due(and in all events prior to delinquency)all taxes,special taxes,assessments,charges(indudinp 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 referred to below,and
<br /> exoept as otherwise provided in fhis Deed of Trust.
<br /> Ripht 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 lien anses or is filed as a result of nonpayment,Grantor shell within fifteen
<br /> (15)days aiter the lien anses or,if a Iien 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,deposii with Lender Cash or a sufficient corporate surety bond or other security 58tisfactory to Lender in an amount sufficient
<br /> to discharge the Iien plus any costs and attorneys'fees or other charges that could accrue as a result of a foreclosure or sele 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 /> neme Lender as 8n additionBl obligee under any surety bond furnished in the contest proceedings.
<br /> Evide�ce of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
<br /> authOrize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessmenls against the
<br /> PropeAy.
<br /> Notice ot Constructfon. 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 work,servic�5,
<br /> or meterials and the cost exceeds 510,000.00. Grantor will upon request of Lender furnish to Lender advance assurances satisfBCtory to Lender
<br /> that Grantor can and will pay the cost of such improvements.
<br /> 10. PROPERTY INSURANCE The following provisions relating to insunng the Property are a part of this Deed of Trust.
<br /> MalntenanCe ot Insurance. Granfor shall procure and maintain policies oi fire insurance with standard extended coverape endotsements on a
<br /> replacement basis for the full insurable value covering aIl Improvements on the Real Property in an amount sufficient to avoid epplic8tion of any
<br /> cansurance clause, and with a standard mortgagee clause in favor of Lender, together with such other hazard and liability insurence 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 aveilable. Pdicies
<br /> shall 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 insurance in form
<br /> satisfactory to Lender,including stipulations that coverages will not be cancelled or diminished without at least ten(10)days'pnor written notice to
<br /> - Lender.
<br /> Apptication of ProCeeds. Gran'�or shall promptly.notify Lender of any loss or damage to the Property if the estimeted cost of repair or
<br /> replacement exceeds 510,000.00. Lender may mak�proof of loss if Grantor fails to do so within fifleen (15)days o(the casuBHy. It,in Lenders
<br /> judgment, the restoration or repair is economicelly feasible and Lender's security is not fessened, insurance prooBeds shell be applied to
<br /> restoretion or repair of the damaged Propetty. If the restoration or repair is not economically feasible or Lender's 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 eucess paid to Grantor. If
<br /> Grantor abandons the Property, or does not answer within thirty(30) days a notice trom Lender that the insurance camer has of�er�d to settle a
<br /> claim,then Lender mpy 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. tt Lender holds any proceeds after payment in full of the Indebtedness,such proceeds shall be paid
<br /> to Grantor as Grantor's interests may appear.
<br /> Unexplred InsuronCe at Sale. Any unexpired insurence shall inure to the benefit of, and pass to, the purchaser of the PropeAy cpvered by this
<br /> Deed of Trust at any trustee'S sale or other sale held under the provisions of thls Deed of Trust,or at any foreClosure sele of suCh Property.
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