|
99 110890 :
<br /> 9
<br /> 2. Taxes. Trustor shall pay each installment o( all taxes and special assessments of every kind, now or herea(tei
<br /> levied apainst the Trust Estate or any part thereof, before deli�quency, without notice or demand. :
<br /> 3. /nsu�ance and Repalis. Trustor shall maintain fire and extended coverage insurance insuring the Improvements
<br /> constituting part of the Trust Estate (or 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 insu�ance requirements of the first deed of trust or
<br /> mortpage shall be suf(icient to satisty the requirements ot this paragraph 3 relatinp to insurance.
<br /> Trustor shall promptly repair and replace the Trust Estate or any part thereoi so that, except for ordinary wear and tear,
<br /> the Trust Estate shall not deterio�ate. In no event shall the Trustor commit waste on or to the Trust Estate, or cammit, suffer or
<br /> permit any act to be done in or upon the Trust Estate in violation ot any law, ordinance or reeulation. Trustar shall pay and promptly
<br /> discha�ge at Trustor's cost and expense all lie�s, encumbrances and charges levied, imposed or assessed against the Trust Estate
<br /> or any part thereof.
<br /> 4. Act/ons A/fecting Tiast Estate. Trusto�shall appear in and contest any action or proceeding purporting to affect
<br /> the securiry hereo( or the rights or powers of Beneticiary or Trustee, and shall pay all costs and expenses, including cost of evidence
<br /> o( tide 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 and/or Trustee, each in
<br /> their own discretion, without obligation so to do and without notice to or demand upon Trustor and without releasinp Trustor from
<br /> any oblic�ation, 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 demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in
<br /> connection with the exercise by Beneficiary of the foregoing �ights, including without limitation costs of evidence of title, court
<br /> costs, appraisals, surveys and attorneys' fees.
<br /> 5. Em/nent Domain. If the Trust Estate, or any part thereof or interest therein, be taken or damaged by reaso� of
<br /> any public improvement or condemnation proceeding, or in any other manner inctuding deed in lieu thereof ("Condemnation"), or
<br /> if Trustor receives any notice or other information regarding such proceeding, Trustor shall give prompt written notice thereof to
<br /> Bene(iciary. Trustor shall be entitled to all compensatian, awards and other payments or relief thereof and shall be entitled at its
<br /> option to commence, appear in and prosecute i� 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. Appoint�nent of Successo� TiustBe. Beneticiary may, from time to time, by a written instrument executed and
<br /> acknowledged by Beneficiary, mailed to Trustor and recorded in the County in which the T�ust Estate is located and by otherwise
<br /> complying with the provisions of the applicable law of the State of Nebraska suhstitute a successor or successors to the Trustee
<br /> �amed herein or acting hereu�der.
<br /> 7. Successo�s andAsslgns. 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 owner and
<br /> holder of any promissory note given to beneficiary, �whether or not named as Beneficiary herein).
<br /> 8. Mergei Conso/Idatlon, 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 payahle, 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 obliflations set forth in the First Oeed of Trust. The covenants contained herein shall run with the
<br /> Property and shall remain in full•force and effeci until the Indebtedness is paid in full.
<br /> 9. Events of Defau/t. Any of the following events shall be deemed an event of default hereunder:
<br /> (a1 default shall be made in the payment of the Indebtedness or any other sum secured hereby when due; :
<br /> or
<br /> (b) Trustor shatl perform any act in bankruptcy; o�
<br /> (c) a court of competent jurisdiction shall enter an order,judgment or decree approving a petition filed aflainst :
<br /> Trustor seekin4 any reorpanization, dissolution or similar relie( under any present or future federal, state or other statute, :
<br /> law or regulation relating to bankruptcy, insolvency o� other relief for debtors, and such order, judgment ar decree shall
<br /> remain unvacated and unstayed for an aggrepate of sixty(601 days (whether or not consecutive) trom the first date of entry
<br /> thereof; or any trustee, �eceiver or liquidator or T�ustor or of all or any part of the Trust Estate, or of any or aIl ol the
<br /> royalties, revenues, rents, issues or pro(its thereof, shall be appointed withaut the consent or acquiescence of Trustor and :
<br /> such appaintment shatl remain unvacated and unstayed (or an apprepate ot sixty (60) days (whether or not consecutivel; :
<br /> or
<br /> f
<br />� � �_
<br />
|