|
� 93 110 � 34
<br /> 2. Taxes. Trustor shall pay each installment of all taxes and special assessments of every kind, now or hereatte�
<br /> levied against the Trust Estate or any part thereoi, before delinquency, without notice or demand.
<br /> 3. /nsu�ance and Repal�s. Trustor shall maintain tire and extended coverage insurance insurine the Improvements
<br /> co�stituting part oi the Trust Estate for such amounts and on such terms reasonably satisfactory to Beneficiary. So long as the
<br /> Property is secured by a first deed of trust or mortpage, compliance with the insurance requirements of the first deed o( trust or
<br /> mortgage shall be sufficient to satisfy the requirements of this paragraph 3 �elating to insurance.
<br /> Trustor shall promptly repair and replace the Trust Estate or any part thereof so that, except for ordinary wear and tear,
<br /> the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate, or commit, suffer or
<br /> permit any act to be done in or upon the Trust Estate in violation of any law,ordinance or regulation. Trustor shall pay and promptly
<br /> discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Trust Estate
<br /> or any part thereof.
<br /> 4. Act/ons A//ect/ng Trust Estate. Trustor shall appear in and contesi any action or proceeding purporting to affect
<br /> the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence
<br /> of title and attorneys' fees, in any such action or proceeding in which Beneficiary or Trustee may appear. If Trustor fails to make
<br /> any payment or to do any act as and in the manner provided in any of the Loan Instruments, Beneficiary andlor Trustee, each in
<br /> their own discretion, without obligation so to do and without�otice to or demand �pon Trustor and without releasing Trustor from
<br /> any obligation, may make or do the same in such manne�and to such extent as either may deem necessary to protect the security
<br /> hereof. Trustor shall, immediately upon dema�d therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in
<br /> connection with the exercise by Beneficiary of the foregoing rights, including without limitation costs of evidence of title, court
<br /> costs, appraisals, surveys and attorneys' fees.
<br /> 5. Eminent Domain. If the Trust Estate, or any part thereof or interest therein, be taken or damaged by reason of
<br /> any public improvement or condemnation proceeding, or in any othe� manner including deed in lieu thereof ("Condemnation"), or
<br /> if Trusto� receives any notice or other information regarding such proceeding, Trustor shall give prompt w�itten �otice thereof to
<br /> Beneficiary. Trustor shall be entitled to all compensation, awards and other payments or relief thereof and shall be entitled at its
<br /> option to commence, appear in and prosecute in its own name any action or proceedings. Trustor shall also be entitled to make
<br /> any compromise or settlement in connection with such taking or damage.
<br /> 6. Appointmeni of Successor Trustee. Beneficiary may, from time to time, by a written instrument executed and
<br /> acknowledged by Beneficiary, mailed to T�ustor and �ecorded in the County in which the Trust Estate is located and by othervvise
<br /> complying with the provisions of the applicable law of the State of Nebraska substitute a successor or successors to the Trustee
<br /> named herein or acti�g hereunder.
<br /> 7. Successors andAssigns. This Second Deed of Trust applies to,inures to the benefit of and binds all parties hereto,
<br /> their heirs, legatees, devisees, personal representatives, successors and assigns. The term "Beneficiary" shall mean the ow�er and
<br /> holder of any promissory note given to beneficiary, (whether or not named as Beneficiary herein�.
<br /> 8. Merger, Conso/idadon, Sa/es or Leases. Trustor covenants that Trustor will not sell, lease or otherwise dispose
<br /> of any of the Trust Estate. In the event that Trustor sells, leases or otherwise disposes of any part of the Trust Estate, Beneficiary
<br /> may at its option declare the Indebtedness secured hereby immediately due and payable, whether or not any default exists.
<br /> Beneficiary shall consent to a transfer of the Trust Estate to a third party to the extent such third party meets the requirements
<br /> contained in, and assumes the obligations set forth in the First Deed of T�ust. The covenants contained herein shall run with the
<br /> Property and shall remain in full�force and effect until the Indebtedness is paid in full.
<br /> 9. Events ot Detau/L Any of the following events shall be deemed an event of default hereunder:
<br /> (a) default shalt be made in the payment of the Indebtedness or any other sum secured hereby when due;
<br /> or
<br /> (bl Trustor shall perform any act in bankruptcy; or
<br /> (c) a court of competent jurisdiction shall enter an order,judgment or decree app�oving a petition filed against
<br /> Trustor seeking any reorganization, dissolution or similar relief under any present or future federal, state or other statute,
<br /> law or regulation relating to bankruptcy, insolvency or other relief for debtors, and such order, judgment or decree shall
<br /> remain unvacated and unstayed for an aggregate of sixty(60)days(whether or not consecutive) from the first date of entry
<br /> thereof; or any trustee, receiver or liquidator or Trustor or of all or any part of the Trust Estate, or of any or all of the
<br /> royalties, revenues, rents, issues or profits thereof, shall be appointed witho�t the consent or acquiescence of Trustor and
<br /> such appointment shall remain unvacated and unstayed for an aggregate of sixty (60) days (whether or not consecutive); �
<br /> or
<br /> �
<br /> 2
<br />
|