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DEED OF TRUST 9 9 10 9 2 3 5 Page 3
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<br /> whether fee tiGe 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 ihe estates. Grantor fu�ther agrees that if Grantor acquires all or a pation of the fee simple title, a any other leasehold or
<br /> subleasehdd title to the Property, that title will, at Le�cter'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 that such title is 5ecured by this Deed of Trust.
<br />� 6. REFIA8ILITATION LOAN AGREEMEHT. Grantor shall fulfill all of Grantor's obligations under any home rehabilitation,improvement,repeir,or other
<br /> loan aqreement 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,an assignment of any nghts,claims or defenses which Grantor may have against parties who supply labor, meteriats or services
<br /> in connection with impravements 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 transter,without the Lenders prior 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 wntten consent of Lender,then,prior to acceleration Lender shall
<br /> give notice to Grantor. The notice shall provide a penod of not less than ten (10) days from the date of the notice within which Grantor may pay the
<br /> sums decfared due. If Grantor fails to pay those sums pnor 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, 6tfe or interest therein;
<br /> whether legal or equitable;whether voluntary or involuntary;whether by ouhight sale, deed,installment sale contract,Iand contract,contraCt for deed.
<br /> leasehdd interest with a ferm grealer 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 titie to the Real Property,or by any other method af conveyance of Reai 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 /> a. 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 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,promptty after such transfer.
<br />� Advances 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 amounts which may be
<br /> advanced by Lender more than five (5) days atter notice to Lender, as provided in this Deed of Trust, that such transfer or sale 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 /> j releases Grantor in writing. As a condition to Lender's consent to any proposed transfer or as a condition to the release of Grantu,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 following provisions relating to the taxes and liens on the Property are a part of this Deed of Trust.
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<br />'I 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 />'i rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having prioriiy 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 /> ezcept as otherwise provided in this Dced of Trust.
<br /> Rlpht 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 tien 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 after Grantor has notice of the filing,secure the di5charge 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 discherge 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 /> n8me Lender as an additional 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 shall
<br /> authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
<br /> Property.
<br /> Notice ot Constructlon. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any sarvices 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 worlc,services,
<br /> i 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. PROPEATY INSURANCE The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br /> Malntenance of Insuronce. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsement5 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 ctause, and with a standard mortgagee clause in favor of Lender, together with such other ha2ard 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. Pdicies
<br /> Shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably
<br /> axeptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance in form
<br /> 58tisfactory 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 /> Appllcatton of Prceeeds. Grantor shall promptly notify Lender of any loss or damage to the Property if the estimated cost of repair or
<br /> replacement exceeds 510,000.00. Lender may make proof of loss if Grantor fails to do so within fitteen (15) days of the casualty- If,in Lender's
<br /> judgment, the restoration or repair is economically feasible and lenders 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 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 from Lender that the insurance carrier has ofFered to setde a
<br /> claim,then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by
<br /> this Dsed of Trust,whether or not then due. If Lender holds any proceeds after payment in full of the Indebtedness,such proceeds shall be paid
<br /> to Grantor as Grantors interests may appear.
<br /> Unexplred Insuronce at Sale. Any unexpired insurance shall inure to the benefit of, and pass to. the purchaser of the ProDerty covered by thls
<br /> Deed of Trust at any trustee's sale o�other sale held under the prov�sions of th�s Deea of Trust. or at arn foreclosure aie of such prooerty.
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