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��-�7-1999 DEED OF TRUST 9;� �.� � ��,-�'J Page 3
<br /> Loan No 1043363 (Continued)
<br /> transfer also includes any change in ownership of more than twenty—five percent(25%)of the voting stock, partnership interes� or Iimited liability
<br /> company interests, as the case may be,of Trustor. However, this option shall not be exercised by Lender if such exercise is prohibited by federal
<br /> law or by Nebraska law.
<br /> TAXES AND LIENS. The following provisions relating to the taxes and Ilens on the Property are a pa�t of this Deed of Trust.
<br /> Payment. Trustor shall pay when due(and in all events prior to delinquency)all texes,special taxe�,assessments,charges (including water
<br /> and 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
<br /> services rendered or material furnished to the Property. Trustor shell maintain the Properiy free of eli Ifens having priority over or equal to the
<br /> interest of Lender under this Deed of Trust,except for the lien of texes and assessments not due and except as otherwise provided in this Deed
<br /> of Trust.
<br /> Rlyht To Contest. Trustor may withhold payment of any tax,assessment,or claim in connecHon with a good faith dispute over the obligation
<br /> to pay,so long as Lender's interest in the Property is not jeopardized. If a lien erises or is flled as a result of nonpayment,Trustor shall within
<br /> fifteen(15)days after the lien arises or,if a lien is filed,within flfteen(15)days after Trustor has notice of the flling,secure the discharge of the
<br /> lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond w other security saHsfactory to Lender in an
<br /> amount sufficient to discharge the lien plus any costs and attorneys'fees or other charges that could accrue as a result of a foreciosure or sale
<br /> under the lien. In any contest,Trustor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement agair�st the
<br /> Property. Trustor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.
<br /> Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessmenis and shall
<br /> authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessmenis against the
<br /> Property.
<br /> Notke of ConsWctlon. Trustor shall notity Lender at least fifteen(15)days before any work is commer�ced,any servk�s are furnished,or any
<br /> materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on axount of the work,
<br /> services,or materials. Trustor will upon request of Lender furnish to Lender advance assurarx�s satisfactory to Lender that Trustor can and will
<br /> pay the cost of such improvements.
<br /> PROPERTY DAMAGE INSURANCE. The following provisions relaHng to insuring the Property are a part of this Deed of Trust.
<br /> Matntenance of Insurax�Ce. Trustor shall procure and maintain policies of flre insurance with standard extended coverage endorsements on a
<br /> replacement basis for the full insurable value covering all Improvements on the Resl Property in an amount sufficient to avad appifcation of any
<br /> coinsurance clause,and with a standard mo�tgagee clause in favor of Lender,together with such other hezard and liability lnsurance as Lender
<br /> may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Trustor,upon request of Lender,will deliver to Lender Irom time to dme the policies
<br /> or certificates of insurance in form satisfactory to Lender, including stlpulations that coverages will not be cancelled or diminished without at
<br /> least ten(10)days'prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of
<br /> Lender will not be impaired in any way by any act, omission or defauft of Trustor or any other person. Should the Real Property at any time
<br /> become located in an area designated by the Director of the Federai Emerger►cy Management Agency as a special flood hazard area,Trustor
<br /> agrees to obtain and maintain Federal Flood Insurance for the full unpaid principal balance of the loan and any prior liens on the prope�ty
<br /> securing the loan,up to the ma�dmum policy limits set under the Netional Flood Insurance Program,or as otherwise required by Lender,and to
<br /> maintain such insurance for the term of the loen.
<br /> Applicatlon of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if Trustor
<br /> fails to do so within fiftsen(15)days of the casualty. Whether or not Lende�s security is impaired,Lender may,at its elecHon,receive and retain
<br /> the procesds of any insurance and apply the proceeds to the reduction of the Indebtedness,payment of any lien affecting the Property,w the
<br /> restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shali repair or replace the
<br /> damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satlsfactory proof of such expenditure, pay or
<br /> reimburse Trustor from the proceeds for the reasonable cost of repair or restoraHon if Trustor is not in defauR under this Dsed of Trust. Any
<br /> proceeds which have not been disbursed within 180 days after tFieir receipt and which Lender hes not committed to the repair or restoration of
<br /> the Property shall be used first to pay any amount owing to Lender under this Deed of Trust,then to pay axrued interest,and the remainder,ff
<br /> any,shall be applied to the principal balance of the Indebtedness. If Lender hdds any proceeds after payment in full of the Indebtedness,such
<br /> proceeds shall be paid to Trustor as Trustor's interests may eppear.
<br /> Unexpired Insurance 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 sale or other sale held under the provisior�s of this Deed of Trust,or at any foreclosure sale of such Property.
<br /> DCPENDITURES BY LENDER. If Trustor fails to comply with any provision of this Deed of Trust,or if any action or proceeding is commenced that
<br /> would materially affect Lender's interests in the Property, Lender on Trustor's behalf may,but shall not be required to,take any action that Lender
<br /> deems appropriate. Any amount that Lender e�ends in so dang will bear interest at the rate provided for in the Note from the date incurred or paid
<br /> by Lender to the date of repayment by Trustor. All such expenses,at Lender's option,will (a)be payable on demand, (b)be added to the balance
<br /> of the Note and be apportioned among and be payable with any installment payments to become due during either (i)the term of any applicable
<br /> insurance policy or (ii)the remaining term of the Note,or (c)be treated as a balloon payment which will be due end peyable at the Note's maturity.
<br /> This Deed of Trust also will secure payment of these amounts. The rights provided for in this paragraph shall be in addition to any other righls w any
<br /> remedies to which Lender may be entitled on account of the default. Any such action by Lender shall not be construed as curing the default so as to
<br /> bar Lender from any remedy that it otherwise would have had.
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Prope�ty are a part of this Desd of Trust.
<br /> Title. Trustor werrants that: (a)Trustor holds good and marketable 6de of record to the Property in fee simple,free and clear of all liens and
<br /> encumbrances other than those set forth in the Real Properiy descripaon or in any title insurance policy,tide report,or final title opinion issued in
<br /> favor of,and acxepted by,Lender in connection with this Deed of Trust,and (b)Trustor has the full right,pow�,and authority to execute and
<br /> deliver this Deed of Trust to Lender.
<br /> Defense of Tltle. Subject to the exception in the paragraph above,Trustor warranls and will forever defend the title to the Property against the
<br /> lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's tiHHe or the interest of Trustee or
<br /> Lender under this Deed of Trust,Trustor shall defend the action at Trustor's expense. Trustor may be the nominal party in such proceeding,but
<br /> Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and
<br /> Trustor will deliver,or cause to be delivered,to Lender such instruments as Lender may request from Hme to time to permit such participation.
<br /> Compltance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all e�dsting applicable lews,
<br /> ordinances,and regulations of governmental authorities.
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust.
<br /> Application of Net Proceeds. If all or any pa�t of the Property is condemned by eminent domain proceedings or by any proceeding or
<br /> purchase in lieu of condemnation,Lender may at iis election requke that all or any pordon of the net proceeds of the award be applied to the
<br /> Indebtedness or the repair or restoration of the Property. The net proc�eds of the award shall m�n the award after payment of all reasonable
<br /> costs,expenses,and attorneys'fees incurred by Trustee or Lender in conneclion with the condemnallon.
<br /> Proceedings. If any proceeding in condemnation is filed,Trustor shall prompdy notify Lender in writing,and Trustor shail prompdy take such �
<br /> steps as may be necessary to defend the action and obtain the award. Trustor may be the nominel party in such proceeding,but Lender shall
<br /> be entiHed to participate in the proceeding and to be represented in the proceeding by counsel of its own choice,and Trustor will deliver or
<br /> cause to be delivered to Lender such instruments as may be requasted by it from Ume to Bme to permit such parHcipadon.
<br /> IMPOSITION OF TAXES,FEE3 AND CHARGES BY GOVERNMENTAL AUTHORITIES. The foHowing provisions relatlng to governmental taxes,
<br /> fees and charges are a part of this Deed of Trust:
<br /> Current Taues,Fees and Char�es. Upon request by Lender,Trustor shall execute such documents in addition to this Deed of Trust and take ;
<br /> whatever other acHon is requested by Lender to perfect and conHnue Lender's lien on the Real Prope�ty. Trustor shall reimburse Lender for all
<br /> taxes, as described below, together with all expenses incurred in recording, perfectlng or confinuing this Deed of Trust, including without
<br /> limitation all taxes,fees,documeMary stamps,and other charges for recordinq or registering this Deed of Trust.
<br /> Taxes. The following shall cons�tute taxes to which this section applies: (a)a specific tax upon this type of Deed of Trust or upon all or any
<br /> part of the Indebtedness secured by this Deed of Trust; (b)a specific tax on Borrower which Borrow�is authorized or required to deduct from
<br /> payments on the I�idebtedness secured by this type of Deed of Trust; (c)a tax on this iype oi Deed of Trust chargeable aqainst the Lender or
<br /> the holder of the Npte;�nd (d)a speciflc tmc on all or any portion of the Indebladness or on payments of principal and interest made by
<br /> Borrower.
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