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08-23-1999 DEED OF TRUST �79�1�8s45 page 3
<br /> Loan Nc� 764844 (Continued)
<br /> Property, or by any other method of conveyance of Reai 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 following provisions relating to the taxes 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 delinquency) al� 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 /> services rendered or material furnished to the Property. Trustor shall maintain the Property free of all 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,except for the existing indebtedness referred
<br /> to below,and except as otherwise provided in this Deed of Trust.
<br /> PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br /> Maintenance of Insurance. Trustor 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 avoid application of any
<br /> coinsurance clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also procure and maintain comprehensive general
<br /> liability insurance in such coverage amounts as Lender may request with trustee and Lender being named as additional insureds in such liability
<br /> insurance policies. Additionally, Trustor shall maintain such other insurance, including but not limited to hazard, business interruption, and
<br /> boiler insurance,as Lender may reasonably require. Policies shall be written in form,amounts, coverages and basis reasonably acceptable to
<br /> Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of Lender,will deliver to Lender from
<br /> time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or
<br /> diminished without at least ten (10)days'prior written notice to Lender. Each insurance policy also shall include an endorsement providing that
<br /> coverage in favor of Lendsr will not be impaired in any way by any act, omission or default of Trustor or any other person. Should the Real
<br /> Property at any time become Iocated in an area designated by the Director of the Federal Emergency Management Agency as a special flood
<br /> hazard area,Trustor agrees to obtain and maintain Federal Flood Insurance for the full unpaid principal balance of the loan and any prior liens
<br /> on the property securing the loan,up to the maximum policy limits set under the National Flood Insurance Program,or as otherwise required by
<br /> Lender,and to maintain such insurance for the term of the loan.
<br /> EXPENDITURES BY LENDER. If Trustor fails to comply with any provision of this Deed of Trust, including any obligation to maintain Existing
<br /> Indebtedness in good standing as required below, or if any action or proceeding is commenced that would materially affect Lender's interests in the
<br /> Property, Lender on Trustor's behalf may, but shall not be required to, take any action that Lender deems appropriate. Any amount that Lender
<br /> expends in so doing will bear interest at the rate provided for in the Note from the date incurred or paid by Lender to the date of repayment by
<br /> Trustor. All such expenses,at Lender's option,will (a)be payable on demand, (b)be added to the balance of the Note and be apportioned among
<br /> and be payable with any installment payments to become due during either (i)the term of any applicable insurance policy or (ii)the remaining term
<br /> of the Note, or (c) be treated as a balloon payment which will be due and payable at the Note's maturity. This Deed of Trust also will secure
<br /> payment of these amounts. The rights provided for in this paragraph shall be in addition to any other rights or any remedies to which Lender may be
<br /> entitled on account of the default. Any such action by Lender shall not be construed as curing the default so as to bar Lender from any remedy that
<br /> it otherwise would have had.
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust.
<br /> Title. Trustor warrants that: (a)Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all liens and
<br /> encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in any title insurance
<br /> policy,title report,or final title opinion issued in favor of,and accepted by, Lender in connection with this Deed of Trust,and (b)Trustor has the
<br /> full right,power,and authority to execute and deliver this Deed of Trust to Lender.
<br /> Defense of Title. Subject to the exception in the paragraph above,Trustor warrants and will forever defend the title to the Property against the
<br /> lawful claims of all persons.
<br /> IXISTING INDEBTEDNESS. The following provisions concerning existing indebtedness (the "Existing Indebtedness") are a part of this Deed of
<br /> Trust.
<br /> Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an existing lien. Trustor expressly
<br /> covenants and agrees to pay,or see to the payment of,the Existing Indebtedness and to prevent any default on such indebtedness,any default
<br /> under the instruments evidencing such indebtedness,or any default under any security documents for such indebtedness.
<br /> Default. If the payment of any installment of principal or any interest on the Existing Indebtedness is not made within.the time required by the
<br /> note evidencing such indebtedness, or should a default occur under the instrument securing such indebtedness and not be cured during any
<br /> applicable grace period therein, then, at the option of Lender, the Indebtedness secured by this Deed of Trust shall become immediately due
<br /> and payable,and this Deed of Trust shall be in default.
<br /> DEFAULT. Each of the following,at the option of Lender,shall constitute an event of default("Event of Default")under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness.
<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance, or
<br /> any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Compliance Default. Failure of Trustor to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the
<br /> Note or in any of the Related Documents.
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in tull force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> Death or Insolvency. The death of Trustor or the dissolution or termination of Trustor's existence as a going business, the insolvency of
<br /> Trustor,the appointment of a receiver for any part of Trustor's property,any assignment for the benefit of creditors,any type of creditor workout,
<br /> or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes incompetent,or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br /> performance of the Indebtedness is impaired.
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