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DEED OF TRUST � 9 9 10 9 2 7 4 Page 3
<br /> (Continued)
<br /> whether fee titie 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 o(these estates in the landlwd, Grantor, or a third paRy who pur�hases or
<br /> otherwise acquires the estates. Grantor further agrees that if Grantor acquires all w a portion of the fee simple title, or any other leasehdd or
<br /> subleesehdd title to the Property, that title will, at Lenders option, immediately become subject to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver end record all documents necessary or appropriate to assure that such title is secured by this Deed of Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Grantor shall fulfill ell oi Grantor's obligations under any home rehabilitation,improvement,repair,or other
<br /> loan apreement which Grantor may enter into with Lender. Lender,at Lender's option, may require Granior to execute and deliver to Lender,in a form
<br /> accepfable to Lender,an assignment of any rights,claims or defenses which Grantor may have against parties who supply labor, materials or services
<br /> in connection with improvemenis 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 alf
<br /> sums secured by this Deed ot Trust upon the sale or transfer,without the Lender's 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 written consent of Lender,then,prior to eCCelereHon Lender shall
<br /> give notice to Grantor. The notice shall provide a period ot not less than ten (10)days hom the date of the notice within which Grantor mey pay the
<br /> sums declared due. If Grantor fails to pay those sums prior to the expiration of such penod,Lender may,without further notice or demand on Grantor,
<br /> invoke any remedies permitted in this Deed of Trust. A"sale or transfer" 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 sa�e, deed,instellment sale contract,land conhact,contract for deed,
<br /> leasehdd interest with a term greater than three(3)years,lease-option contr8ct,or by sale,assignment,or transfer of any beneficial interest in w to any
<br /> land trust holding title to the Real Property,or by any other method of conveyance of Real Property interest. However,this opHon shall not be exercised
<br /> by Lender if such exerCise is prohibited by federal Isw or by Nebraska law.
<br /> 8. TRANSFER OF PROPERTY. The following provisions relering to the transfer of the Real Property are a part of this Deed of Trust:
<br /> Notice of Tronsfer. Grantor shall give notice to Lender,as provided in this Deed of Trust,prior to any sale or transfer of all or paR 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 /> Adve�ces 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 /> advanoed by Lender more than five (5) days affer notice to Lender, as provided in this Deed of Trust, that such transfer or sale has occuRed.
<br /> Even if Grantor transfers the Real Property,Grantor will continue to be obligated under the Credit Agreement end this Deed of Trust unless Lender
<br /> releases Grantor in writing. A5 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 edvances under the Credit Agreement.
<br /> 9. TAXES AND LIENS. The fotlowing provisions relating to the taxes and liens on the Property are a part of this Deed of Trust.
<br /> Payment. Grantor sh�ll 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 Properfy free of all liens having priority over or equal to the interest of
<br /> Lender under this Deed ot 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 wfthhold payment of any 18x,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 fifteen
<br /> (15)days after the lien arises 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,deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in en amount sufficient
<br /> fo 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 Iien. In
<br /> any contest,Grantor shall defend itse�f 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 of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments end 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 ConstruCtion. Grantor shall notiy Lender at least fifteen (15)days before any work is commenced,any services are furnished,or any
<br /> materials are supplied to the PropeAy,H any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work,services,
<br /> or materials and the Cost exceeds 310,000.00. Grantor will upon request of Lentler 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 insuring the Property are a part of this Deed of Trust.
<br /> MiUntenanCe of Insurance. Grantor 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 avad 8pplica6on of any
<br /> cansurance clause,and with a stendard mortgagee clause in favor ot 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 /> speciel flood hazard erea, Grantor agrees to obtain Federal Flood Insurance to the extent such insurance is required and is availebte. Pd�s
<br /> shall be written in form, amounts, coverages 8nd basis reasonably acceptable to Lender and issued by a company or comparwes 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,inctuding stipulations that coverages will not be cancelled or diminished without at least ten(10)days'prior written notice to
<br /> Lender.
<br /> Application ot Proceeds. Grantor shatl promptly notify Lender of any loss or damage to the Property if the estimated cost of repair or
<br /> replacement exceeds 310,000.00. Lender may make proof oi loss if Grantor fails to do so within fitteen (15) days of the casuglfy. If,in Lender's
<br /> judgment, the restoration or repair is economicelly feasible and Lender's security is not lessened, insurance proceeds shall be applied to
<br /> restoretion 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 exoess paid to Grantor. If
<br /> GrBntor 8bandons the Property,or does not answer within thirty(30) days a notice from Lender that the insurance camer has oHered tp settle 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 Deed of Trust,whether Or not then due. If Lender holds any proCeeds affer payment in full of the Indebtedness,such proceeds shall be paid
<br /> to Grantor as Grantor's interests may appear.
<br /> Unexpired Insurence at 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 sele a other sale held under the provisions of this Dced of Trust,or at any foreclosure sale of such Property.
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