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9 9 1 U 9 3 p 4 DEED OF TRUST Page 3
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<br /> whether fee title to the leasehold premises,the leasehold estate,or any subleasehold estate,will merge without Lender's express written consent;rather
<br /> these estetes will remain separate and distinct, even if there is a union oi these estates in the landlord, Grantor, or a third party who purchases or
<br /> otherwise ecquires the estates. Grantor further agrees that if Grantor acquires all or a portion of the fee simple title, or any other leasehold or
<br /> subleasehdd title to the Property, thet fitle 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 that 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 /> ecceptable to Lender,an assignment of any rights,claims or defenses which Grantor may have against parties who supply Iabor, materials or services
<br /> in connection with improvements made to the Property.
<br /> 7. DUE ON SALE-CONSENT BY LENDER. Lender mey,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 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 acceleration Lender shall
<br /> give notice to Grantor. The notice shall provide a period of not less than ten (10)day5 fi'om the date of the notice within which Grantor mfly pay the
<br /> sums declared due. If Grantor fails to pay those sums prior to the expiration of such period,Lender rr�ay,without fu�ther 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 fw deed,
<br /> leasehdd interest with a term greater than three(3)years,lease-option contract,or by sale,assignment,or transfer of any beneficiel interest in or to any
<br /> land trust holding title to the Re�al Property,or by any other method of com�eynnee sRReef f'Mepsrtp i�e�etf� � ba exerCised
<br /> by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br /> 8. TRANSFER OF PROPERTY. The tollowing provisions releting to the hansfer ot the Real Property are a parf of this Deed of Trust:
<br /> Notice oi 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,promptly aHer such transfer.
<br /> Advances Afler Trensfer. 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 aiter 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. 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 transfeRed 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 w material furnished to the Property. Grantor shall maintain the Properfy free of aII 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 noi jeopardized. If a lien anses or is filed as a result of nonpayment,Grantor shall within frfteen
<br /> (15)days efler the lien 8rise5 or,if a lien 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 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 /> eny contest,Grantor shall defend itself and Lender and shatl 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 statement of the taxes and assessments against the
<br /> Preperty. _ _ . _ -- .T.
<br /> NotlCe of ConstruCtion. Grantor shall notify Lender at least fifteen (15) days before any work is commenced,any services are fumished,or any
<br /> materials are supplied to the Property, ii any mechanic's lien, materialmen's lien,or other lien could be asserted on account of the work,services,
<br /> or meterials and the cost exceeds 510,000.00. Grantor will upon request of l.ender furnish to Lender advance assurances s8tisfactory 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 /> Malntenance 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 covenng all Improvements on the Real Prope�ty in an amount sufficient to avad appfication of any
<br /> cansurance Clause, and with a standard mortgagee clause in fevor 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. Pdipes
<br /> shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably
<br /> acxeptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurence in form
<br /> satisfactory to Lender,including stipulations that coverages will not be Cancelled or diminished without at least ten(10)deys'prior written notice to
<br /> Lender.
<br /> Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property if the es6mated cost of repair or
<br /> replacement exceeds 510,000.00. Lender may make proof oi loss if Grantor failslo do so within fifteen (15) days of the cesu8tty. If,in Lender's
<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 prooeeds shall be applied to the sums secured by this Deed of Trust whether or not then due, with any excess p8id 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 offer�9d to settle a
<br /> Gaim,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 thert due. If Lender holds any proCeeds after payment in fuN of the tndebtedness,such proceeds shell be paid
<br /> to Grentor as Grantor's interests may appear.
<br /> Unexplred Insurance af Sale. Any unexpired insurence shell inure to the benefit of, and pass to, the purchaser oi the Prpperty covered by this
<br /> DeeC of Trust at any trustee's sale or other sale held under the provislons ot this Deed of Trust, or at any foreclosure sale of such Property.
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