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DEED OF TRUST 9 9 10 8 a:`��'���t�'� pege 3
<br /> (Continued)
<br /> whether fee title to the leasehold premises,the leasehoid estate,or any subleasehoid estate,will merge without Lenders express written consent;rather
<br /> these est8tes 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 fiUe, or any other leasehdd or
<br /> subleasehdd title to the Properfy, that title will, et Lender's option, immediately become subject to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver and record all documenl5 necessary or appropriate to assure that such title is secured by this Deed of Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Grantor shall fulflll all oi Grantor's obligations under any home rehabilitafion,improvement,repair,or other
<br /> loan 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 /> ecxeptable to Lender,an assignment of any nghts,claims or defenses which Grantor may have against parties who supply labor, matenels 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 all
<br /> sums secured by this Deed of Trust upon the sale or transfer,without the Lender's prior written consent,of all or any part o(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 acceleraHon 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 may pay the
<br /> sums declared due. If Grantor fails to pay those sums prior io the expiration of such period,Lender may,without fu�ther notioe or demand on Grantor,
<br /> invoke any remedies permitted in this Deed of Trust. A"sale or transfe�' means the conveyance of Real Properfy 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 /> leasehdd interest with a term greater than three(3)years,lease-option contract,or by Sale,8ssignment,or transfer oi any beneficiel interest in or to any
<br /> land trust holding title to the Real Properfy,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 lew.
<br /> 8. TRANSFER OF PROPERTY. The following 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 pa�t of the Prope�ty
<br /> or any rights in ihe Real Property. Any person to whom aIl 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 Atter 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 afler sale or transfer of the Real Property, except any amounts which may be
<br /> advanced by Lender more than five (5) days after notice to Lender, as provided in this Deed of Trust, that such transfer 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 of Trust unless Lender
<br /> releases Grantor in writing. Ps a condition to Lender's consent to any proposed transfer or as a condition to the release of Grantor,Lender mey
<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 Deed of Trust.
<br /> Payment. Grantor shall pay when due(and in all events prior to delinquency)all taxes,special taxes,assessments,charges(including water and
<br /> 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 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 /> Rl�ht 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 LendePs interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,Grantor shall within fifteen
<br /> (15)days after the lien arises or,if a lien is filed,within fifteen(15)days affer Grantor has notice.of the filing, secure 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 edditional 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 taxes or assessments and shal�
<br /> authorize the appropriate governmental official to deliver to Lender at any time a written statemenf of the taxes and assessments against the
<br /> Property.
<br /> Notice of COnstructlon. Grantor shall notify Lender at least fifleen (15)days before any work is commenced,any servic�s are furnished,or any
<br /> materials are supplied to the Properfy,N any meChanic's lien, materialmen's lien,or other lien could be asserted on account of the worfc,services,
<br /> or meteriels and the cost exceeds 510,000.00. Grantor wilt 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 insunng 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 coverege endorsements on a
<br /> replecement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avad epplication of any
<br /> cansur8nce clause, and with a standard mortgagee Clause in favor of Lender, together with such other hazard and liability 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 and is available. Poliaes
<br /> shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and �ssued by a company or companies reasonably
<br /> acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender hom time to time the policies or certificates of insurance in form
<br /> satisf8ctory to Lender,including stipulations that coverages will not be Cancelled or dimirnshed without at least ten(10)deys'pnor written notice to
<br /> Lender.
<br /> Application Ot Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property if the estimated cost of repeir or
<br /> replacement exceeds 510,000.00. Lender may make proof o(loss if Grantor fails to do so within fitteen (15) days of the casualty. If,in Lenders
<br /> judgment, the restoration or repair is economiCally feasible and Lender's security is not lessened, insurance proceeds shall be applied to
<br /> restoration or repair of the damaged Property. If the restoration or repair is not economically feasible or Lender's secunty would be lessened,the
<br /> insurance proc�eeds 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 hom Lender that the insurance cerrier hes oHered to settte a
<br /> claim,then Lender may cdlect 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. If Lender holds any proceeds aNer payment in full of the Indebtedness,such proceeds shell be paid
<br /> to Grantor as Grantors interests may appear.
<br /> Unexplred InsuranCe et 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 Property.
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