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<br /> DEED OF TRUST 9� Y i�'���''� �y �± Page 3
<br /> (Continued)
<br /> whether fee fitle 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 of these estates in the landlord, Grantor, or a third party who purchases or
<br /> otherwise acquires the estates. Grantor turther agrees that if Grantor acquires all or a portion of the fee simple title, or any other leasehold or
<br /> subleasehdd title to the Properfy, that title will, at Lender's option, immediately become subject to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver and record all documents necessary or appropriate to assure thet such title is secured by this Deed of Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Grantor shall fulfill all of Grantor's obligations under any home rehabilitation,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 /> acceptable to Lender,en assignment of any rights,claims or defenses which Grantor mey have against parties who supply labor, 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 all
<br /> sums secured by this Deed of Trust upon the sale or transfer,without the Lender's ptior written consent,of all or any part of the Real Property, or any
<br /> interest in the Real Property. If Grantor sells or transfers the Real Property without the writlen consent of Lender,then,prior to accelerafion 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 pey those sums prior to the expiration 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 transfe�' 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 three(3)years,lease-option contract,or by sale,assignment,or transfer of any beneficial interest in or 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 /> 8. TRANSFER OF PROPERTY. The following provisions relating to the tr&nsfer 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 iransfer of all or part 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 Atter Transfer. All amounts advanced under the LOANLINER� Home Equity Plan Credit Agreement, up to the Gedit Limit, ere
<br /> secured by this Deed of Trust, whether advanced before or atter 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 �ender, as provided in this Deed of Trust, that such transfer or sflle hes 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. 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 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 foltowing provisions relating to the taxes and liens on the Property are a part of this Deed of Trust.
<br /> Peyment. Grantor shall pay when due(and in all events prior to delinquency)all tanes,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 Properfy. Grantor shall maintain the Property free of sIl 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. Grantw 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 arises or is filed as a result of nonpayment,Grantor shall within fiffeen
<br /> (15)days after the lien anses or,if a lien is filed,within fiHeen (15)days afier 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 Iien plus eny 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,Grantpr 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 /> EvidenCe ot 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 statemenf of the taxes and assessments against the
<br /> Property.
<br /> Notice of ConstruCtion. Grantor shall notify Lender at least fifteen (15) days before any work is commenced,any servic�s are tumished,or any
<br /> materials are supplied to the Property,it any mechanic's lien, materialmen's lien,or other lien coutd be asserted on account of the wor4c,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 oi such improvements.
<br /> 10. PROPERTY INSURANCE The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br /> Maintenance of Insurance. Grantor shall procure and maintain policies ot tire 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 applice6on of eny
<br /> coinsurance 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 egrees to obtain Federal Flood Insurance to the extent such insurance is required and is available. Pdipes
<br /> shall be written in form, amounts, coverages and basis reasonably accepiable to Lender and issued by a company or comparues reasonably
<br /> acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insur8nce in form
<br /> satisfactory to Lender,including stipulations that coverages will not be cancelled or diminished without at least ten(10)days'prior written notice to
<br /> Lender.
<br /> Applicetlon of ProCeeds. Grantor shall promptly notify Lender of any loss or damage to the Property if the esamated cost of repair or
<br /> replacement exceeds 310,000.00. Lender may make proof of toss if Grantor fails to do so within fifteen (15) days of the Casualfy. 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 security would be lessened,the
<br /> insurance prOCeeds sh81I 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 8bandons the Property,or does not answer within fhirty(30) days a notice from Lender that the insurance cartier has offered to settle 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 /> t�is Deed of Trust,whether or not then due. If Lender holds any proceeds 8fler payment in full of the Indebtedness,suCh proceeds shell be paid
<br /> to Grantor as Grantors interests may appear.
<br /> Unexpfred Insuronc:e et Ssle. Any unexpired insurance shell 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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