|
99 111 ? � �
<br /> 2. Taxes. Trustor shall pay eacf stailment oi all taxes and special assessmer ot every kind, now or hereafter
<br /> levied apainst the Trust Estate ar any part ther,..., before delinquency, without notice or den d.
<br /> 3. /nsurance and Repairs. Trustor shali maintain fire and extended coverage insurance insuring the Improvements
<br /> constituting part of the Trust Estate lor such amounts and on such terms reasonably satisiactory to Beneticiary. So (ong as the
<br /> Pr •ty is secured by a first deed of trust or mortgage, compliance with the insurance requirements of the first deed of trust or
<br /> rn� �pe shai) be suif(cient to satigfy the requirements ot this paragraph 3 relating to insurance.
<br /> Trustor shall promptly repair and replace the Trust Estate or any part thereof so that, e�ccept for ordinary wear and tear,
<br /> the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to tt,e Trust Estate, or commit, sutter or
<br />�ermit any act to be done in or upon the Trust Estate in violadon of any law, ordinance or regulation. Trustor shall pay and promptly '
<br /> iischarge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Trust Estate
<br />�r any part thereof.
<br /> 4. Act/ons A/lecting Tiust Estate. Trustor shall appear in and contest any action or proceeding purporting to affect
<br /> he security hereaf or the rights or powers ot Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence
<br />�f title and attorneys' fees, in any such action or proceeding in which Beneliciary or Trustee may appear. If Trustor fails to make
<br /> iny payment or to do any act as and in the manner provided in any of the Loan Instrurnents, Beneficiary and/or Trustee, each in
<br /> heir own discretion, without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor irom
<br /> iny obligation, may make or do the same in such manner and to such extent as either may deem necessary to protect the security
<br />�ereof. Trustor shall, Immediately upon demand therefor by 8eneliciary, pay all costs and expenses incurred by Beneficiary in
<br />:onnection with the exercise by Beneticiary of the foregoing rights, including without limitation costs of evidence of title, court
<br />:osts, appraisals, surveys and attorneys' (ees.
<br /> 5. Eminent Domain. II the Trust Estate, or any part thereof or interest therein, be taken or damaged by reason of
<br />�ny public improvement or condemnation proceeding, or in any other manner including deed in lieu thereot 1"Condemnation"), or
<br /> f Trustor receives any notice or other inlormation regarding such proceeding, Trustor shalt give prompt written notice thereot to
<br /> leneiiciary. Trustor shall be entitled to all compensation, awards and other payments or relief thereof and shall be entitled at its
<br />�ption to commence, appear in and prosecute in its own name any action or proceedings. 7rustor sl�all also be entitled to make
<br /> iny compromise or settlement in connection with such taking or damage.
<br /> 6. Appolntment o/Successor Trustee. Beneficiary may, trom time to time, by a written instrurnent executed and
<br />�cknowledged by Beneliciary, mailed to Trustor and recorded in the County in which the Trust Estate is located and by otherwise
<br />. 'ying with the provisions oi the applicable law of the State of Nebraska substitute a successor or successors to the Trustee
<br />�a,..�d herein or acting hereunder.
<br /> 7. Successors an�Assigns. This Second Deed of Trust applies to, inures to tlie benefit of and binds all parties hereto,
<br /> heir heirs, legatees, devisees, personal representatives, successors and assigns. The term "Beneficiary" shall mean the owner and
<br />�older of any promissory note given to beneficiary, (whether or not named as Beneficiary hereinl.
<br /> 8. Merger, Consolidation, Sa/es or Leases. Trustor covenants that Trustor will not sell, lease or otherwise dispose
<br /> f any of the Trust Estate. In the event that Trustor sells, leases or otherwise disposes ot any part ot the 7rust Estate, Beneficiary
<br />�ay at its option declare the Indebtedness secured hereby immediately due and payable, whether or not any de(ault'exists.
<br />�eneTiciary shall consent to a transfer of the Trust Estate to a third party to the extent such third party meets the requirements
<br /> ontained in, and assumes the obligations set torth in the First Deed oi Trust. The covenants contained herein shall run with the
<br />'roperty and shall remain in full.torce and effect until the Indebtedness is paid in tull.
<br /> 9. Events oI De/au/t. Any o( the tollowing events shall be deemed an event of default hereunder:
<br /> (a) default shall be made in the payment of the Indebtedness or any other sum secured hereby when due;
<br /> or
<br /> (b! 7rustor shall periarm any act in bankruptcy; or �
<br /> (c) a court of competent jurisdiction shall enter an order,judgment or decree approving a petition filed against
<br /> Trustor seeking any reorganizat'ion, dissolution or similar reliel under any present or future federal, state or other statute,
<br /> law or regulation relating to bankruptcy, insolvency or other reliet for debtors, and such vrder, judgment or decree shall
<br /> remain unvacated and unstayed for an aggregate ot sixty(60)days(whether or not consecutive) trom the first date of entry
<br /> thereof; or any trustee, receiver or liquidator or Trustor or of all or any part ol the Trust Estate, or of any or all oi the
<br /> royalties, revenues, rents, issues or profits thereof, shall be appointed without 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 consecutivel;
<br /> or
<br /> ��
<br /> _ _- — - �– -
<br /> �
<br />
|