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� - 11�5-1999 DEED OF TRUST g� 1112'�s Page 3 : Loan No 1042340 (Continued) : upon the sale or transfer,without the Lender's prior written consent, of all or any part of the Real Property,or any interest in the Real Property. A "sale or transfer"means the conveyance of Real Property or any right,tide or interest therein;whether legal,beneficial or equitable;whether voluntary or involuntary;whether by ouMght sale,deed,installment sale contract,land contract,contract for deed,leasehold interest with a term greater than three (3) years, leas�option contract, or by sale, assignment, or transfer of any beneflcial interest in or to any land trust holding tiHe to the Real Property, or by any othar method of conveyance of Real Property interest. If any Trustor is a corporaHon,partnership or limited liability company, transfer also includes any change in ownership of more than iwenty-five percent(25%) of the voting stock, partnership interests or limited liability 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 law or by Nebraska law. TAXES AND LIENS. The following provisions relating to the taxes and liens o�the Property are a part of this Deed of Trust. Payment. 7rustor shall pay when due (and in all events prior to delinquency)all texes, special taxes, assessments,charges (including water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due ell claims for work done on or for services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of Trust,except for the lien of taxes and assessments not due,except for the e�dsting indebtedness referred to below,and except as otherwise provided in this Deed of Trust. Riyht To CoMest. Trustor may withhold payment of any tex,assessment,or claim in connecfion with a good faith dispute over the obligation to pay,so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,Trustor shall within fifteen(15)days after the lien arises or,if a lien is filed,within iHteen(15)days after Trustor has notice of the filing,secure the discharge of the Hen, or if rflquested b.y Lender, deposR with Lender cash or a sUtfiCient corporate surety bond or other security satisfactory to Lender in an amount suKcient to discharge the lien�lus a�ny c�sfs arr�,a_tt��..�;5!}?ng QK.:C.HBC C�E.�y�3�ths±ycsfV c:crr;:e:..�a:�:Et o�a fcrr,:.��ure or ssls under the I'�en. In any contast,Trustor shaN defend Itself and Lender and shad satisty any adv�se Judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Evidence of Payment. Trustor shall upon demand furnish to Lender saHsfactory evidence of payment of the taxes or assessments and shall suthorize the appropriate governmental official to deliver to Lender at any time a written statement of the taues and assessments against the Property. Notice of Construction. Trustor shall notity Lender at least fifteen(15)days before any work is commenced,any services are furnished,or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work, services,or materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Trustor can and will pay the cost of such improvements. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a pa�t of this Deed of Trust. Maintenence of InsurenCe. Trustor shall procure and maintain pdicies of fire insurance with standard extended coverage endorsements on a replacement basis for the full insurable value covering all Improvemenis on the Real Properiy in an amount suf�cient to avoid application of any coinsurance clause,and with a standard mortgagee clause in favor of Lender,together with such other hezard and liability insurance as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor,upon request of Lender,wiii deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations thet coverages will not be cancelled or diminished without at least ten (10)days'prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Trustor or any other person. Should the Real Property at any time become located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hezard area,Trustor agrees to obtain and maintain Federal Flood Insurance for the full unpaid principal balance of the loan and any prior liens on the property securing the loan,up to the maximum policy limits set under the National Flood Insurance Program,or as otherwise required by Lender,and to maintain such insurance for the term of the loan. Application of Proceeds. Trustor shall promptly notiy Lender of any loss or damage to the Property. Lender may make proof of loss if Trustor ____ _ fails to do so within fifteen�15)days of the casualt�. Whether or not Lender's security�impaired,Lender may,at Its electlon,reCeive and retain procee s of any insurance ana app y e proceeds to 4he reduction of;he indebtedness,payment of any lien affecting the Property,or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their ret�ipt and which Lender has not committed to the repair or restorafion of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust,then to pay accrued interest,and the remainder,if any,shall be applied to the princlpat balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness,such proceeds shall be paid to Trustor as Trustor's interesis may appear. Unexpired Insurance at Sale. Any unexpired insurance shall inure to the benefit of,and pass to,the purchaser of the Property covered by this Deed of Trust at any Nustee's sale or other sale held under the provisions of this Deed of Trust,or at any foreclosure sale of such Property. CompUance with Existin�Indebtedness. During the period in which any E�dsting Indebtedness described below is in effect,compliance with the insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute compliance with the insurance provisions under this Deed of Trust, to the extent compliance with the terms of this Deed of Trust would constitute a duplication of insurance requirement. If any proceeds from the insurance become payable on loss, the provisions in this Deed of Trust for division of proceeds shall apply only to that portion of the proceeds not payable to the holder of the E�dsting Indebtedness. IXPENDITURES BY LENDER. If Trustor fails to comply with any provision of this Deed of Trust, including any obligaHon to maintain ExisHng indebtedness in good standing as required below,or if any action or proceeding is commenced that would materialty affect Lender's interests in the Property, Lender on Trustor's behalf may, but shall not be required to, take any acHon that Lender deems appropriate. Any amount that Lender expends in so doing will bear interest at the rate provided for in the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such expenses,at Lender's option,will (a)be payabie on demand, (b)be added to the balance of the Note and be apportioned among and be payable with any instaliment payments to become due during either (i)the term of any appiicabie insurance policy or (ii)the remaining term of the Note, or (c) be treated as a balloon payment which will be due and payable at the Note's maturity. 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 righis or any 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 bar Lender from any remedy that it otherwise would have had. WARRANTY;DEFENSE OF TITLE. Tfie`folfowing provisions relating ta ownefship of tiie Properly�re a part of this Dead of Trust. Title. Trustor warcants that: (a)Trustor hdds good and marketeble dtle of record to the.Froperty in fee simple,frse and clear of all liens and encumbrances other than those set forth in the Real Property description ar in the E�dsting Indebtedness section below or in any tiBe insurance policy,title report,or final title opinion issued in favor of,and accepted by,Lender in connection with this Deed of Trust,and (b)Trustor has the full right,power,and suthority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception in the paragraph above,Trustor warrants and will forever defend the title to the Property against the �s lawful claims of all persons. In the event any action or proceediny is commenced that quasHons Trustor's title or the interest of Trustee or Lender under this Deed of Trust,Trustor shall defend the action at Trustor's e�ense. Trustor may be the nominal party in such proceeding,but � Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice,and �: Trustor will deliver,or cause to be delivered,to Lender suCh inshuments as Lender may request irom time to time to permit such participation. � Compllance With Lews. Trustor warranls that the Property and Trustor's use of the Property complies with all e�dsting applicable laws, ordinances,and regulations of governmental authorities. DCISTING IND�TEONESS. The following provisions concerning e�dsting indebtedness (the"F�dsting Indebtedness'�are a part of this Deed of Trust. Existiny Uen. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an e�dsting �ien. Trustor expressly covenants and agrees to pay,or see to the payment of,the F�dsting Indebtedness and to prevent any default on such indebtedness,any default u�der the instruments avidanciny such indebtedness,or any defauK under any secu�ty dxuments for such indebtednass. Default. If the payment of any installment of principal or any interest on the Existinfl Indebtedness is not made within the time required by the note evidencing such indebtedness,or should a default occur under the instrument securing such indebtedness and not be cured during any : applicable grace period therein, then,at the opHon of Lender,the Indebtedness secured by this Deed of Trust shall become immediately due and payable,and this Deed of Trust shall be in default. No Modtflcatlon. Trustor shall not enter into any agreement with the holder of any mortgage,deed of trust,or other security agreement which f� C� � � i �A �.c r� ;