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' � ' R°QECORDED�' �1.��:�13'$� .-.
<br /> • • DEED OF TRUST 9 9 10 9 5 2 5 Page 3
<br /> (Continued)
<br /> whether fee title to the leasehold premises,the leasehold estafe,or any subleasehold estete,wili merge without Lenders express written consent;rather
<br /> these estates will remain separate and distinct, even if there is a union of these estates in the landlord, Grantor, or a third party who purchases or
<br /> otherwise acquires the estetes. Grantor further aprees that if Grantor acquires all or a portion of the fee simple title, or any other leasehold or
<br /> subleasehdd title to the Properfy, th&t title will, at Lender's option, immediately become subject to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver and record ell documents necessary or appropriate to assure that such title is secured by this Deed of Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Grantor shall fulfill all ot Grantor's obligations under any home rehabilitation,improvement,repair,or other
<br /> loan agreement which Grantor may enter into with Lender. Lender,at Lender's option, may require Grantor to execute and deliver to Lender,in a form
<br /> acceptable to Lender,an assignment of any rights,claims or defenses which Grantor may have against parties who supply labor, materials or services
<br /> in connection with improvements made to the Property.
<br /> 7. DUE ON SALE-CONSENT BY LENDER. Lender may,at its option, heve the right to accele�ate,that is, declare immediately due and peyable aIl
<br /> sums secured by this Deed of Trust upon the sale or transfer,without the Lender's prior written consent, of all or any part of the Real Property, or any
<br /> interest in the Real Property. If Grantor sells or transfers the Real Property without the written consent of Lender,then,prior fo ecceleretion Lender shall
<br /> give notice to Grantor. The notice shall provide a period of not less than ten (10)days from the date of the notiCe�within whiCh GrBntor mfly pey the
<br /> sums declared due. If Grantor fails to pay those sums prior io the expiration of such period,Lender may,without further notice or dgmand on Grantw,
<br /> invoke any remedies permitted in this Deed of Trust. A"sale or transfe�' means the conveyanCe of Real Properfy or any right,title or interest therein;
<br /> whether legal or equitable;whether voluntary or involuntary;whether by outnght sale, deed,instellment sale contrect,land contrect,contract for deed,
<br /> leasehdd interest with a term greater than three(3)years,lease-option contract,or by sale,assignment,or transfer of any beneficiel interest in or to eny
<br /> land trust holding title to th�Real Property,or by any other method of cor,vsyance oi Real Properfy interest. However,this option shall not be exercised
<br /> by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br /> 8. TRANSFER OF PROPERTY. 'fhe following provisions relating to the transfer of the Real Property are a part of this Deed of Trust:
<br /> Notice of Transfer. Grantor shall give notice to Lender,as provided in this Deed of Trust,pnor to any sale or transfer of all or part of the Property
<br /> or any rights in the Real Property. Any person to whom all or part of the Real Property is sold or transferred also shall be obligated to give notice
<br /> to Lender,as provided in this Deed of Trust,promptly aHer such transfer.
<br /> Advances After Transfer. All amounts advanced under the LOANLINER� Home Equity Plan Credit Agreement, up to the Gedit Limit, are
<br /> secured by this Deed of Trust, whether advanced before or aHer sale or transfer of the Real Property, except any amounts which may be
<br /> advanced by Lender more than five (5) days after notice to Lender, as provided in this Deed of Trust, that such transfer or sale has occurred.
<br /> Even if Grantor transfers the Real Property,Grantor will continue to be obligated under the Credit Agreement and this Deed of Trust unless Lender
<br /> releases Grantor in writing. As a condition to Lender's consent to any proposed transfer or as a condition to the release of Grantor,Lender may
<br /> require that the person to whom the Real Property is transferred sign an assumption agreement satisfactory to Lender and Lender may impose an
<br /> assumption fee. The assumption agreement will not entitle the person signing it to receive advances under the Credit Agreement.
<br /> 9. TAXES,AND LIENS. The following provisions relating to the iaxes and liens on the Property are a part of this Deed of Trust.
<br /> Peyment. Grantor shell pay when due(and in all events prior to deGnquency)all taxes,special taxes,assessments,charges(including water aad
<br /> 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 services
<br /> rendered or meterial furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal to the interest of
<br /> Lender under this Deed of Trust,except for the lien of taxes and assessments not due,except for the existing indebtedness referred to below,and
<br /> except as otherwise provided in this Deed of Trust.
<br /> Rlyht To Contest. Grantor may withhold payment of any tax,assessment,or claim in connection with a good faith dispute over the obligation to
<br /> 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,Grantor shall wHhin fiiteen
<br /> (15)days atter the lien arises or,if a lien is filed,within fitteen(15)days after Grantor has notice.of the filing,secure the discharge of the lien,or if
<br /> requested by Lender,deposit with Lender cash or a sufficient corporate surety bond or other security safisfactory to Lender in an amount sufficient
<br /> to discharge the lien plus any costs and attorneys'fees or other charges that could accrue as a result of a forectosure or sale under the lien. In
<br /> any contest,Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shalt
<br /> name Lender as an additional obligee under any surety bond furnished in the contest proceedings.
<br /> Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
<br /> authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
<br /> Property.
<br /> Notice Ot Construction. Grantor shall notify Lender at least fifleen (15) days before any work is commenced, any services are furnished,or any
<br /> materials are supplied to the Property, ii any mechanic's lien, matenalmen's lien,or other lien could be asseAed on account of the work,services,
<br /> or materials and the cost exceeds 510,000.00. Grantor will upon request of�ender furnish to Lender advance assurances safisfactory to Lender
<br /> that Grantor can and will pay the cost of such improvements.
<br /> 10. PROPERTY INSURANCE The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br /> MalntenanCe oi Insurance. Grantor shatl procure and maintain policies of fire insurance with standard extended coverage endorsements on a
<br /> replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avad applica6on of any
<br /> cansurance clause,and with a standard mortgegee clause in favor ot Lender, together with such other ha7ard and liability insuranCe as Lender
<br /> may reasonably require. If the Real Property is located in an area designated by the Director of the Federal Emergency Management Agency as a
<br /> speci8l flood hazard area, Grantor egrees to obtain Federal Flood Insurance to the extent such insurance is required and is av8ilable. Pdides
<br /> shall be written in form, amounts, coverages and basis reasonably acceplable to Lender and issued by a company or companies reasonably
<br /> acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurence in form
<br /> satisfactory to Lender,including stipulations that coverages will not be cancelled or diminished without at least ten(10)deys'prior w�itten notice to
<br /> Lender.
<br /> Appticetion of Proceeds. Grantor shall prompdy notify Lender of eny loss or damage to the Property if the esfimated cost of repair or
<br /> replaoement exceeds 510,000.00. Lender may make proof of loss if Grantor fails to do so within fitteen (15)days of the casualty. If,in Lenders
<br /> judgment, the restoration.or repair is economically feasible and Lender's security is not lessened, insurance proceeds Shall be applied to
<br /> restoration or repair of the damaged Property. If the restoration or repair is not economically feasible or Lender's security would be lessened,the
<br /> insurance proceeds shell be applied to the sums secured by this Deed of Trust whether or not then due, with any exoess paid to Grantor. If
<br /> Grantor abandons the Property,or does not answer within thirty(30) days a notice from Lender that the insurance camer has oflened to settle a
<br /> claim,then Lender may colleCt the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pey sums seCUred by
<br /> this Deed of Trust,whether cx not then due. Ii Lender holds any proceeds aRer payment in full of the Indebtedness,such proceeds shell be paid
<br /> to Grantor as Grantors interests may appear.
<br /> Unexplred InsuronCe at Sale, Any unexpired insurance shall inure to the beneflt of, and pass to,the purchaser of the Property Cevered by this
<br /> Deed of Trust at any trustee's sale or other sale held under the provisions of this Deed of Trust,or at any foreclosure sale of such Property.
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